Turkey's Teknosa falls as Q1 loss widens

Teknosa Ic ve Dis Ticaret

30/04/2025 09:16

** Shares in Turkey's Teknosa fall 3.5% after the company engaged in the retail trade of electronics reported a bigger Q1 loss

** Its Q1 net loss widens to 414.0 million lira  ($10.8 million) from a loss of 130.8 million lira a year earlier

** Brokerage ALB Yatirim deems Q1 results weak

** "The loss is driven by non-operational items, notably higher financing costs amid elevated interest rates and technical effects of inflation accounting" ALB Yatirim's Serhat Başkurt says

** "Recovery in core operations remains weak and sustained rebound looks uncertain if demand fails to pick up" Başkurt added

** The stock is down about 40% YTD

($1 = 38.4987 liras)

 (Reporting by Canan Sevgili and Arda Dipova)

 ((canan.sevgili@thomsonreuters.com))