Turkish Airlines is recommended as a buy with a target price of TL 8.30. The company is poised to benefit from promising growth in the aviation market. It has demonstrated rising profitability and further improvement is expected. The investment summary cites Turkish Airlines' aggressive growth, high profit yield potential, and compelling valuation as reasons for the buy recommendation.
This document provides an overview of Turkish Airlines, including its history, SWOT analysis, competitors, financial figures, and risks. It summarizes that Turkish Airlines was founded in 1933 and has won several awards. It also outlines Turkish Airlines' strengths like its strategic location, weaknesses like high turnover, opportunities in emerging markets, and threats like political risks. The document reviews Turkish Airlines' financial performance and risks related to currency, interest rates, and liquidity. It provides details on Turkish Airlines' approach to managing these financial risks.
This document analyzes the success of Turkish Airlines (THY). It provides an overview of THY's history and operations, serving over 48 million passengers annually to 247 destinations with 228 planes. The document demonstrates THY's success through its strong financial performance, growing passenger numbers and fleet size. It attributes THY's success to factors like commercials, sponsorships, and high quality onboard services, as recognized through international awards for best in-flight entertainment and business class catering. The document concludes that THY is one of the world's best airlines due to these financial, operational and customer service metrics.
The document summarizes information about the Airbus A380 airliner. It was first flown in 2005 and is primarily used by Emirates and Singapore Airlines. Key details include:
- It has two decks and seats 555 passengers in a typical three-class configuration.
- It has a maximum speed of 1,050 km/h and maximum altitude of 43,000 feet.
- The A380 provides 50% more floor space than other airliners and uses four Rolls Royce Trent 900 engines.
- It offers passengers more comfort with wider seats and legroom compared to other aircraft types.
This is a product analysis of the A380 by AIRBUS. This presentation in prepared looking at the points of parity and points of difference of the A380 and its competitor the BOEING 787 DREAMLINER.
This document provides an overview and analysis of IndiGo Airlines. It begins with an agenda and background on the aviation industry and IndiGo Airlines. It then performs a PEST, Porter's 5 Forces, SWOT, and TOWS analysis of IndiGo. It discusses IndiGo's market leadership strategies, branding, product mix, and promotional strategies. It concludes with recommendations for IndiGo's future growth.
This document provides a history of the commercial aircraft industry from its beginnings with the Wright Brothers to the current duopoly between Boeing and Airbus. It discusses key events like World War I and II and the emergence of jet aircraft that shaped industry development. It also analyzes factors that can affect demand for new aircraft like economic crises, government policies supporting Airbus, rising fuel costs, and terrorism concerns. Both Boeing and Airbus strategize around these factors through new plane models and technologies to remain competitive.
This document provides an overview of Turkish Airlines, including its history since 1933, expansion of international routes, and membership in Star Alliance since 2006. It also analyzes the airline's strengths, weaknesses, opportunities, threats, competitors, and strategies through tools like PEST, SWOT, Porter's generic strategies, and strategic partnerships. In conclusion, Turkish Airlines serves 74 countries and 120 airports as the 4th largest member of Star Alliance.
This document summarizes information about the European airline industry. It discusses the differences between full service carriers (FSCs) and low cost carriers (LCCs), provides financial statistics for major European airlines and LCCs, and analyzes factors like industry competition and strategic groups. Porter's five forces model is applied to the industry, showing high levels of competition. The document also includes frameworks for analyzing airline strategy and competitive advantage. Case studies are presented on British Airways' performance and recovery program.
This document provides an overview of Turkish Airlines, including its history, SWOT analysis, competitors, financial figures, and risks. It summarizes that Turkish Airlines was founded in 1933 and has won several awards. It also outlines Turkish Airlines' strengths like its strategic location, weaknesses like high turnover, opportunities in emerging markets, and threats like political risks. The document reviews Turkish Airlines' financial performance and risks related to currency, interest rates, and liquidity. It provides details on Turkish Airlines' approach to managing these financial risks.
This document analyzes the success of Turkish Airlines (THY). It provides an overview of THY's history and operations, serving over 48 million passengers annually to 247 destinations with 228 planes. The document demonstrates THY's success through its strong financial performance, growing passenger numbers and fleet size. It attributes THY's success to factors like commercials, sponsorships, and high quality onboard services, as recognized through international awards for best in-flight entertainment and business class catering. The document concludes that THY is one of the world's best airlines due to these financial, operational and customer service metrics.
The document summarizes information about the Airbus A380 airliner. It was first flown in 2005 and is primarily used by Emirates and Singapore Airlines. Key details include:
- It has two decks and seats 555 passengers in a typical three-class configuration.
- It has a maximum speed of 1,050 km/h and maximum altitude of 43,000 feet.
- The A380 provides 50% more floor space than other airliners and uses four Rolls Royce Trent 900 engines.
- It offers passengers more comfort with wider seats and legroom compared to other aircraft types.
This is a product analysis of the A380 by AIRBUS. This presentation in prepared looking at the points of parity and points of difference of the A380 and its competitor the BOEING 787 DREAMLINER.
This document provides an overview and analysis of IndiGo Airlines. It begins with an agenda and background on the aviation industry and IndiGo Airlines. It then performs a PEST, Porter's 5 Forces, SWOT, and TOWS analysis of IndiGo. It discusses IndiGo's market leadership strategies, branding, product mix, and promotional strategies. It concludes with recommendations for IndiGo's future growth.
This document provides a history of the commercial aircraft industry from its beginnings with the Wright Brothers to the current duopoly between Boeing and Airbus. It discusses key events like World War I and II and the emergence of jet aircraft that shaped industry development. It also analyzes factors that can affect demand for new aircraft like economic crises, government policies supporting Airbus, rising fuel costs, and terrorism concerns. Both Boeing and Airbus strategize around these factors through new plane models and technologies to remain competitive.
This document provides an overview of Turkish Airlines, including its history since 1933, expansion of international routes, and membership in Star Alliance since 2006. It also analyzes the airline's strengths, weaknesses, opportunities, threats, competitors, and strategies through tools like PEST, SWOT, Porter's generic strategies, and strategic partnerships. In conclusion, Turkish Airlines serves 74 countries and 120 airports as the 4th largest member of Star Alliance.
This document summarizes information about the European airline industry. It discusses the differences between full service carriers (FSCs) and low cost carriers (LCCs), provides financial statistics for major European airlines and LCCs, and analyzes factors like industry competition and strategic groups. Porter's five forces model is applied to the industry, showing high levels of competition. The document also includes frameworks for analyzing airline strategy and competitive advantage. Case studies are presented on British Airways' performance and recovery program.
The Civil Aviation Industry in India has decided to introduce easy entry and exit rules for regional airlines to encourage greater participation. Airlines operating on regional routes will be allowed to cease operations if they deem operations unprofitable after a set period. This is expected to lead to a surge in the number of new airlines with small fleets and aircraft. The goal is to enhance ease of doing business while respecting market forces with minimal government interference.
CASE STUDY ON THE SUCCESSFUL JOURNEY OF INDIGO AIRLINES VARUN KESAVAN
India is the 9th largest aviation market in the world with a size of around US$ 16 billion and is poised to be the 3rd biggest by 2020. India aviation industry promises huge growth potential due to large and growing middle class population, rapid economic growth, higher disposable incomes, rising aspirations of the middle class and overall low penetration levels.
Ryanair was founded in 1985 and is headquartered in Dublin, Ireland. It operates flights to small airports across Europe and is known for its low fares and additional fees. Ryanair's slogan is "Low Fares Made Simple" and they compete directly with EasyJet, another major European budget airline. In 2014, Ryanair reported an operating profit of over 5 billion euros and carried over 80 million passengers that year, demonstrating the company's significant growth.
Jet Airways was founded in 1974 and began flying in 1993, becoming the dominant airline in India. In 2005, Jet Airways had a successful IPO, raising Rs. 1899 crore. Jet Airways positioned itself as an airline for business travelers through strategies like early check-in, in-flight meals and entertainment, and outsourcing functions. While competitors like Indian Airlines, Air Sahara, and Air Deccan focused on other market segments, by 2005 Jet Airways had grown to have a 46% market share and was expanding its international routes.
The document summarizes the evolution of India's airline industry from 1953 to 2008. It notes that before 1953 there were 9 airlines, which were then nationalized. In 1994, private airlines were allowed to operate scheduled services. The first low-cost carrier, Air Deccan, launched in 2003. Several other carriers like Kingfisher and SpiceJet launched around 2005. The industry saw consolidation in 2007 as the market share of low-cost carriers grew significantly during this period due to factors like rising incomes and a growing economy.
Jet Airways is an Indian airline based in Mumbai. It was established in 1993 and operates domestic and international flights. Naresh Goyal is the founder and former chairman. Jet Airways' main competitors in India are IndiGo, Air India, SpiceJet and others. Jet Airways has a loyalty program called JetPrivilege which allows members to earn miles on flights. The airline is working to expand its international routes and services while focusing on improving customer service to better compete internationally.
Description of the strategy (business model) of Low Cost Carrier Ryanair. Focussing on the value proposition, value architecture, revenue model and corporate culture and values.
Presentation Business and Financial Analysis Of Emirates Airline over 3 yearsGul Khan
This document analyzes the business and finances of Emirates airline over a three-year period. It finds that while Emirates has experienced impressive revenue growth through expansion, its profits have been negatively impacted by rising fuel costs. In comparison, Air Arabia has been better able to maintain its margins through the use of fuel hedging. Overall, the analysis concludes that Emirates has been successful in gaining market share but needs to regain control over its rising costs to protect its profit margins going forward.
What make airlines gain profits while the others fall in losses !!!
How LCC creates profits in a recession time ….
Is Airline Industry a profitable Industry !!!
What are various strategies in such cases…
And how to survive in this miss !!!!!!!
The document provides a history and overview of Emirates airline from its founding in 1985 to present day operations. It discusses the airline's founding, key events and expansions over the decades. It outlines Emirates' current fleet size, destinations served, and goals for the future. The document also reviews Emirates' mission, vision, strategies, products and services offered across various classes. It provides financial reports on revenue, passengers and market share from 2008-2015. Finally, it performs outside analyses including PESTEL, Porter's Five Forces and McKinsey 7S framework to evaluate the external and internal environment.
Air asia x can the low cost model go long haul Rehan ali
Covers mission vision and all the internal and external evaluation, including IFE EFE SPACE MATRIX BCG MATRIX GRAND MATRIX QSPM
Feel free to contact : rehankango@ymail.com +92337548656
Singapore Airlines is considered a role model for customer service in the airline industry. It focuses heavily on customer satisfaction and innovation in service marketing. Some of SIA's customer service strategies include operating a young fleet of modern aircrafts to improve safety and reduce costs, creating the iconic "Singapore Girl" as a marketing symbol, and providing differentiated inflight services like international cuisine and entertainment systems. SIA also developed high quality ground services like an early computerized reservation system and flexible check-in options to enhance the customer experience.
The Airbus A380 is a double-deck airliner manufactured by Airbus that can carry 555 passengers. It has a maximum speed of Mach 0.88 and a maximum altitude of 43,000 feet. The A380 provides 50% more floor space than other airliners and has a lower operating cost per seat than the Boeing 747.
The Indian aviation industry has experienced rapid growth and transformation over the past two decades, moving from a government-owned sector to one dominated by private airlines. While domestic passenger traffic has grown at over 18% annually, infrastructure constraints and high costs continue to challenge airline profitability in the competitive Indian market. Further reforms and investments are needed to develop infrastructure and support continued growth in the aviation industry.
This document provides an analysis of Ryanair, including:
- An overview of the company's history and operations.
- An external environmental analysis using PESTEL and Porter's Five Forces frameworks to examine political, economic, social, technological, environmental, and legal factors impacting Ryanair as well as competitive rivalry, supplier and customer bargaining power, and barriers to entry.
- Identification of critical issues and a recommendation for Ryanair.
The document provides an analysis of the macroenvironment and industry for Lufthansa, a large German aviation group. It begins with an overview of Lufthansa's business segments and financial information. It then analyzes the political, economic, social, technological, environmental, and legal factors affecting Lufthansa internationally and within the airline industry. These PESTEL factors are assessed to understand opportunities and threats in the external environment.
Ryanair’s objective is to firmly establish itself as Europe’s leading low-fares scheduled passenger airline through continued improvements and expanded offerings of its low-fares service.
Ryanair aims to offer low fares that generate increased passenger traffic while maintaining a continuous focus on cost-containment and operating efficiencies.
Capacity Management in Airline Industry- A Case StudyAyat A. Saleh
The purpose of this case study is to analyse the capacity management in three airline companies, and to identify a set of critical success factors in this area. The companies are: Royal Jordanian Airline, American Airliners and Easy Jet. The first two companies were selected as examples for 'full-service carrier', while the last one was selected as an example for 'low-cost carrier'. This case study was submitted as a part of the 'Logistics and Operations Management' course in the University of Warwick, United Kingdom, 2016. For more details, you can check this blog post: https://ayatsaleh.com/2017/01/10/how-yield-management-is-implemented-in-airline-industry/
This document summarizes the evolution of low-cost carriers in India, focusing on Air Deccan. It discusses that Air Deccan was founded in 2003 and grew rapidly but faced financial issues from overexpansion. Vijay Mallya acquired a controlling stake in 2007 to address these issues. The Indian aviation market was growing rapidly at over 25% annually but faced challenges like lack of airport infrastructure and air traffic controllers. Air Deccan targeted leisure travelers and competed with other low-cost carriers like SpiceJet and IndiGo. By 2007, Air Deccan was facing high employee turnover and technical issues, leading Mallya to consider options like merging it with his airline Kingfisher.
Turkish Airlines is the largest airline in Southern Europe and the third largest in Europe. It was founded in 1933 and currently operates services to 167 airports in Europe, Asia, Africa, and the Americas. In recent years, Turkish Airlines has carried over 25 million passengers annually and had annual revenues of over $4 billion US dollars. The airline is based in Istanbul and focuses on providing high quality food and services to passengers.
The Civil Aviation Industry in India has decided to introduce easy entry and exit rules for regional airlines to encourage greater participation. Airlines operating on regional routes will be allowed to cease operations if they deem operations unprofitable after a set period. This is expected to lead to a surge in the number of new airlines with small fleets and aircraft. The goal is to enhance ease of doing business while respecting market forces with minimal government interference.
CASE STUDY ON THE SUCCESSFUL JOURNEY OF INDIGO AIRLINES VARUN KESAVAN
India is the 9th largest aviation market in the world with a size of around US$ 16 billion and is poised to be the 3rd biggest by 2020. India aviation industry promises huge growth potential due to large and growing middle class population, rapid economic growth, higher disposable incomes, rising aspirations of the middle class and overall low penetration levels.
Ryanair was founded in 1985 and is headquartered in Dublin, Ireland. It operates flights to small airports across Europe and is known for its low fares and additional fees. Ryanair's slogan is "Low Fares Made Simple" and they compete directly with EasyJet, another major European budget airline. In 2014, Ryanair reported an operating profit of over 5 billion euros and carried over 80 million passengers that year, demonstrating the company's significant growth.
Jet Airways was founded in 1974 and began flying in 1993, becoming the dominant airline in India. In 2005, Jet Airways had a successful IPO, raising Rs. 1899 crore. Jet Airways positioned itself as an airline for business travelers through strategies like early check-in, in-flight meals and entertainment, and outsourcing functions. While competitors like Indian Airlines, Air Sahara, and Air Deccan focused on other market segments, by 2005 Jet Airways had grown to have a 46% market share and was expanding its international routes.
The document summarizes the evolution of India's airline industry from 1953 to 2008. It notes that before 1953 there were 9 airlines, which were then nationalized. In 1994, private airlines were allowed to operate scheduled services. The first low-cost carrier, Air Deccan, launched in 2003. Several other carriers like Kingfisher and SpiceJet launched around 2005. The industry saw consolidation in 2007 as the market share of low-cost carriers grew significantly during this period due to factors like rising incomes and a growing economy.
Jet Airways is an Indian airline based in Mumbai. It was established in 1993 and operates domestic and international flights. Naresh Goyal is the founder and former chairman. Jet Airways' main competitors in India are IndiGo, Air India, SpiceJet and others. Jet Airways has a loyalty program called JetPrivilege which allows members to earn miles on flights. The airline is working to expand its international routes and services while focusing on improving customer service to better compete internationally.
Description of the strategy (business model) of Low Cost Carrier Ryanair. Focussing on the value proposition, value architecture, revenue model and corporate culture and values.
Presentation Business and Financial Analysis Of Emirates Airline over 3 yearsGul Khan
This document analyzes the business and finances of Emirates airline over a three-year period. It finds that while Emirates has experienced impressive revenue growth through expansion, its profits have been negatively impacted by rising fuel costs. In comparison, Air Arabia has been better able to maintain its margins through the use of fuel hedging. Overall, the analysis concludes that Emirates has been successful in gaining market share but needs to regain control over its rising costs to protect its profit margins going forward.
What make airlines gain profits while the others fall in losses !!!
How LCC creates profits in a recession time ….
Is Airline Industry a profitable Industry !!!
What are various strategies in such cases…
And how to survive in this miss !!!!!!!
The document provides a history and overview of Emirates airline from its founding in 1985 to present day operations. It discusses the airline's founding, key events and expansions over the decades. It outlines Emirates' current fleet size, destinations served, and goals for the future. The document also reviews Emirates' mission, vision, strategies, products and services offered across various classes. It provides financial reports on revenue, passengers and market share from 2008-2015. Finally, it performs outside analyses including PESTEL, Porter's Five Forces and McKinsey 7S framework to evaluate the external and internal environment.
Air asia x can the low cost model go long haul Rehan ali
Covers mission vision and all the internal and external evaluation, including IFE EFE SPACE MATRIX BCG MATRIX GRAND MATRIX QSPM
Feel free to contact : rehankango@ymail.com +92337548656
Singapore Airlines is considered a role model for customer service in the airline industry. It focuses heavily on customer satisfaction and innovation in service marketing. Some of SIA's customer service strategies include operating a young fleet of modern aircrafts to improve safety and reduce costs, creating the iconic "Singapore Girl" as a marketing symbol, and providing differentiated inflight services like international cuisine and entertainment systems. SIA also developed high quality ground services like an early computerized reservation system and flexible check-in options to enhance the customer experience.
The Airbus A380 is a double-deck airliner manufactured by Airbus that can carry 555 passengers. It has a maximum speed of Mach 0.88 and a maximum altitude of 43,000 feet. The A380 provides 50% more floor space than other airliners and has a lower operating cost per seat than the Boeing 747.
The Indian aviation industry has experienced rapid growth and transformation over the past two decades, moving from a government-owned sector to one dominated by private airlines. While domestic passenger traffic has grown at over 18% annually, infrastructure constraints and high costs continue to challenge airline profitability in the competitive Indian market. Further reforms and investments are needed to develop infrastructure and support continued growth in the aviation industry.
This document provides an analysis of Ryanair, including:
- An overview of the company's history and operations.
- An external environmental analysis using PESTEL and Porter's Five Forces frameworks to examine political, economic, social, technological, environmental, and legal factors impacting Ryanair as well as competitive rivalry, supplier and customer bargaining power, and barriers to entry.
- Identification of critical issues and a recommendation for Ryanair.
The document provides an analysis of the macroenvironment and industry for Lufthansa, a large German aviation group. It begins with an overview of Lufthansa's business segments and financial information. It then analyzes the political, economic, social, technological, environmental, and legal factors affecting Lufthansa internationally and within the airline industry. These PESTEL factors are assessed to understand opportunities and threats in the external environment.
Ryanair’s objective is to firmly establish itself as Europe’s leading low-fares scheduled passenger airline through continued improvements and expanded offerings of its low-fares service.
Ryanair aims to offer low fares that generate increased passenger traffic while maintaining a continuous focus on cost-containment and operating efficiencies.
Capacity Management in Airline Industry- A Case StudyAyat A. Saleh
The purpose of this case study is to analyse the capacity management in three airline companies, and to identify a set of critical success factors in this area. The companies are: Royal Jordanian Airline, American Airliners and Easy Jet. The first two companies were selected as examples for 'full-service carrier', while the last one was selected as an example for 'low-cost carrier'. This case study was submitted as a part of the 'Logistics and Operations Management' course in the University of Warwick, United Kingdom, 2016. For more details, you can check this blog post: https://ayatsaleh.com/2017/01/10/how-yield-management-is-implemented-in-airline-industry/
This document summarizes the evolution of low-cost carriers in India, focusing on Air Deccan. It discusses that Air Deccan was founded in 2003 and grew rapidly but faced financial issues from overexpansion. Vijay Mallya acquired a controlling stake in 2007 to address these issues. The Indian aviation market was growing rapidly at over 25% annually but faced challenges like lack of airport infrastructure and air traffic controllers. Air Deccan targeted leisure travelers and competed with other low-cost carriers like SpiceJet and IndiGo. By 2007, Air Deccan was facing high employee turnover and technical issues, leading Mallya to consider options like merging it with his airline Kingfisher.
Turkish Airlines is the largest airline in Southern Europe and the third largest in Europe. It was founded in 1933 and currently operates services to 167 airports in Europe, Asia, Africa, and the Americas. In recent years, Turkish Airlines has carried over 25 million passengers annually and had annual revenues of over $4 billion US dollars. The airline is based in Istanbul and focuses on providing high quality food and services to passengers.
This document summarizes the story of an innovative digital brief from Turkish Airlines in 2009. The brief challenged agencies to find social media clues and solve a puzzle to uncover the briefing details. Agencies were evaluated based on how well they understood the brief, demonstrated creativity, spread the word virally, and showed compatibility with the client. Digital McCann was ultimately selected as the winner. The brief set a new standard for digital marketing in Turkey and fueled discussions about integrating digital throughout the creative process.
Wi-Fi allows electronic devices to connect to the internet and each other wirelessly using radio bands. It allows people to stay connected anywhere within range of a wireless access point. Now Wi-Fi is ubiquitous and found in homes, businesses, public spaces and even some entire cities, providing constant internet access on smartphones and other devices. This has transformed how people communicate, get information, do banking, plan trips and more, making modern life nearly unimaginable without wireless internet connectivity.
This document analyzes the financial statements of PepsiCo and Coca-Cola from 2008-2014. It includes income statements, balance sheets, cash flow statements, and key financial ratios for both companies. The document is divided into sections on overview, financial analysis, conclusion, and references. Key financial metrics such as revenues, expenses, assets, liabilities, cash flows, current ratios, debt ratios, and interest coverage are compared between the two companies.
This document summarizes the key financial information of an organization over a 5-year period from 2001-2002 to 2005-2006. It includes highlights of the company's steady revenue and profit growth over time as well as initiatives taken by the finance department such as implementing an e-banking system for payments and a centralized payroll system. Key metrics such as revenues, profits, assets, liabilities, and financial ratios like ROCE and debt-equity are presented for each year. Awards received by manufacturing and service units are also mentioned.
Cyient announces acquisition of GSE-Asia, maintain holdIndiaNotes.com
Cyient Ltd. acquired Global Services Engineering Asia (GSE-Asia) based in Singapore from Pratt & Whitney Pte Ltd. for $6-7 million. GSE-Asia provides repairs, development and validation for aerospace engine components with annual revenue of $10-12 million. This acquisition allows Cyient to expand into the lucrative aftermarket services segment of the aerospace industry and strengthen its partnership with Pratt & Whitney. The deal is expected to be earnings accretive and improve Cyient's return on equity.
The document summarizes capital budgeting analyses for two potential new product lines for New Heritage Doll Company:
1) Match My Doll clothing line extension, which has a positive NPV of $7,150 and IRR above the company's hurdle rate, indicating it should be accepted.
2) Design Your Own Doll, which has a negative NPV without considering terminal value but a positive NPV of $7,298 and IRR of 18.33% when factoring in terminal value, suggesting it may also be worthwhile but is more marginal.
- KSB Pumps reported flat profits for the quarter despite a 5.7% rise in sales, due to weaker margins from an unfavorable product mix and losses in the valve segment.
- While the pump segment grew sales by 5.7%, the valve segment returned to growth after four declining quarters but reported losses.
- Margins declined due to high prior year margins providing a tough comparison and costs rising faster than revenues.
- The analyst maintains a 'Buy' rating, expecting the company to benefit from an industrial recovery and its diverse portfolio.
FAG Bearings reported strong performance in 3QCY2010 with net sales growing 31.5% YoY to Rs. 272.4 crore, in line with estimates. EBITDA margin expanded 381bps YoY to 17.7% due to lower raw material costs. Net profit increased 90.1% YoY to Rs. 31.4 crore on robust sales growth and improved operating performance. The brokerage maintains its estimates and recommends buying the stock with a target price of Rs. 1,035, valuing it at 12x CY2012 EPS.
Skipper remains leading player in the transmission tower businessIndiaNotes.com
Skipper Ltd is an integrated player in the transmission tower and PVC pipes industries. It aims to triple its power transmission business and increase its water pipes capacity ten-fold. The company plans to invest Rs. 350 million in FY16, with Rs. 200 million for PVC pipes and Rs. 150 million for transmission. It has an order backlog of Rs. 24 billion and targets emerging opportunities in power and water infrastructure. At the current market price, Skipper Ltd is trading at 17.5 times its FY15 earnings.
This document provides an overview and analysis of Escorts Ltd, an Indian company that manufactures agricultural and construction equipment, railway products, and automotive components. It includes details on Escorts' financial performance, shareholding, industry analysis, and analysts' recommendations. Key figures mentioned are net sales of Rs. 6292.51 crore for FY14 and reserves of Rs. 1831.38 crore as of March 2014. The document recommends a "BUY/HOLD" position in Escorts Ltd based on its market leadership in tractors, expected growth in the agriculture sector, and strong financial ratios.
Elgi Equipments Ltd is an Indian manufacturer of air compressors with a market share of 29% and revenues of Rs.922 crore. It has expanded globally through organic and inorganic growth. The company maintains healthy profit margins and cash flows despite large investments. Upcoming government initiatives and growth in sectors like automobiles, engineering and construction are expected to drive future demand for Elgi's products. The company is recommended as a buy based on its market leading position, financial strength, and positive long term industry outlook.
This document is a project report submitted by students from the MBA stream at Shree H.N.Shukla Collage of Management & Studies. It contains analysis of various topics related to different subjects like SAPM, SFM, MFS, NEIM, LAB and SM. The report includes E-I-C analysis, leverage analysis, e-commerce and plastic money, entrepreneur qualities, consumer protection act and merger of Vodafone and Hutch. Tables with financial data from 2012-2016 and definitions of concepts like operating leverage, financial leverage and combined leverage are also presented.
This document provides a summary of the budget for a company across multiple departments. It includes projected sales increases of 15% and revenue increases of 27% for 2010. Material costs are expected to rise 24% due to price and volume increases. Operating expenses are projected to grow 6% while total wages will increase 10% to LE117 million, including 348 new employees costing LE10 million. Net income is expected to rise 110% to LE103.8 million, representing 9% of revenues.
- Cyient reported quarterly revenue of $141 million, up 13.4% year-over-year but flat quarter-over-quarter. Operating margin was 12.8%, down 46 basis points quarter-over-quarter despite currency headwinds.
- For the full fiscal year 2018, the company expects double-digit revenue and earnings growth, aided by effective hedging offsetting currency impacts and higher tax rates.
- The analyst maintains a 'Buy' recommendation on Cyient due to its differentiated offerings and faster growth compared to peers, with a target price of Rs. 610 per share.
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/Excel-Model-for-Manufacturing-Firm-120
This is a financial model of Manufacturing firm called Nahar Spinning Mills. I have covered the different perspectives of the valuation in this model.
SKF India's net profit jumps to Rs512.40 mn during Q1CY15; BuyIndiaNotes.com
SKF India reported financial results for Q1 CY15. Net profit increased 4.36% to Rs. 512.40 million. Revenue rose 1.06% to Rs. 5856.30 million. EPS increased 4.36% to Rs. 9.72. EBITDA grew 6% to Rs. 935.60 million. The report recommends buying SKF India based on its financial outlook, with a target price of Rs. 1510 and expectations for sales and profit to grow at a CAGR of 8% and 13% through 2016.
Mahindra Financial result update: 4QFY15 PAT up 7% YoY and 144% QoQIndiaNotes.com
- Mahindra Financial Services reported better than expected 4QFY15 results with net profit growing 7% YoY to INR3.33 billion, beating estimates by 23%.
- Key factors were a 6% beat in net interest income due to higher interest writebacks from improved asset quality, and lower operating expenses due to a reversal of employee provisions.
- Asset quality improved significantly with GNPAs declining 120bps sequentially to 5.9% and NNPA declining 100bps to 2.4%, driven by focus on recoveries and seasonal effects.
Mahindra &Mahindra Q1FY15 profits better than estimates - Hold - SPA SecuritiesIndiaNotes.com
M&M reported Q1FY15 revenue & profit of INR 103 bn & INR 9 bn, which were better than our estimates because of higher realization for both the Automotive & Farm Equipment Segment (FES). Margins declined 47 bps YoY to 12.4% and EBITDA stood at INR 13 bn.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
Prescriptive analytics BA4206 Anna University PPTFreelance
Business analysis - Prescriptive analytics Introduction to Prescriptive analytics
Prescriptive Modeling
Non Linear Optimization
Demonstrating Business Performance Improvement
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
Virtual Leadership and the managing workIruniUshara1
Virtual leadership is a form of leadership in which teams are managed via a remote working environment.
Like traditional leadership roles, virtual leaders focus on motivating employees and helping teams accomplish their goals.
Virtual leadership focuses heavily on improving collaboration through communication, accountability, and transparency
SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN CHART KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART
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4. Market Profile
0
10
20
30
40
50
60
2006 2007 2008 2009 2010 2011 2012 E 2013 E 2014 E 2015 E 2016 E 2017 E
Domestic Market Growth (mn)
30
40
50
60
70
80
90
2006 2007 2008 2009 2010 2011 2012 E 2013 E 2014 E 2015 E 2016 E 2017 E
International Market Growth (mn)
5. Why BUY
WHY BUY ?
Aggressive
Growth
High Profit Yield
Potential
Compelling
Valuation
Further Growth
Potential
7. Future Market Potential
0
10
20
30
40
50
60
70
80
90
100
2012 E 2013 E 2014 E 2015 E 2016 E 2017 E
International Market Forecast
0
10
20
30
40
50
60
2012 E 2013 E 2014 E 2015 E 2016 E 2017 E
Domestic Market Forecast
Pax (mn)
Aggressive Growth
Market GrowthHigh Sales Revenue Growth
Pax (mn)
8. Aggressive Growth
0
10
20
30
40
50
60
70
2009 2010 2011 2012 E 2013 E 2014 E 2015 E 2016 E 2017 E
PAX ( mn )
70%
75%
80%
85%
0
40
80
120
160
200
2009 2010 2011 2012 E 2013 E 2014 E 2015 E 2016 E 2017 E
ASK RPK Load Factor
Traffic Data ( mn )
Market GrowthHigh Sales Revenue Growth
THY
Aviation Figures
10. 3.9 4.0 3.9 3.8
4.0 3.9
4.1
3.5
2
4
6
2006 2007 2008 2009 2010 2011 9M'11 9M'12
Personnel/ASK
($ Cent)
Effective Personel Cost Management
High Profit Yield Potential
0
4
8
SAS DL UA AF-KL LH AY IAG LAN SQ* TK
Personel/ASK
($ Cent)
Benefical AffiliatesEffective Cost Hub-to-Point & Youngest Fleet Age
11. ‘’Optimum Supply Chain Management’’
High Profit Yield Potential
Benefical AffiliatesEffective Cost Hub-to-Point & Youngest Fleet Age
12. 6.5
12.7
10
13
9.7
0
4
8
12
16
20
TA LH AF BA KLM
High Profit Yield Potential
Hub-to Point Strategy Youngest Fleet Age
Benefical AffiliatesEffective Cost Hub-to-Point & Youngest Fleet Age
13. Benefical Affiliates High Profit Expectations
Income Statement ( Margin ) 2007 2008 2009 2010 2011 2012 F 2013 F 2014 F 2015 F 2016 F 2017 F
EBITDAR 22.3% 20.2% 22.9% 16.6% 14.0% 16.9% 16.4% 16.6% 17.5% 17.0% 16.9%
EBITDA 17.9% 16.8% 17.5% 11.0% 9.8% 13.7% 13.5% 13.9% 15.0% 14.8% 14.9%
EBIT 10.4% 12.1% 10.9% 5.5% 2.9% 7.8% 7.5% 8.1% 9.2% 8.8% 8.9%
Net Income (NI) 5.5% 18.5% 8.0% 3.4% 0.2% 6.7% 6.8% 6.8% 7.7% 7.3% 7.3%
2%
4%
6%
8%
10%
12%
7%
9%
11%
13%
15%
17%
10
11
12E
13E
14E
15E
16E
17E
EBITDA EBIT
0.0
0.2
0.4
0.6
0.8
1.0
1.2
7
8
9
10
11
12E
13E
14E
15E
16E
17E
High Profit Yield Potential
Hub-to-Point & Youngest Fleet Age
15. Further Growth Potential
3rd Airport
150 mn. Passenger Capacity
First phase in 2016
Merger with LH : All is possible
Second biggest airline company
Impressive hub network
Economy of scale
Increasing bargaining power
Further Growth Potential
17. Weighted Calculation DCF Multiples
Target Price of THYAO
TL 8.30
DCF
( Discounted Cash Flow)
Peer Comparison
(P/E, EV/EBITDA, EV/EBITDAR)
Long Term Drivers Short Term Drivers
65% 35%
Compelling Valuation
TL 8.10 TL 8.67
18. DCF Components
TL 8.10
5- Year Projected
Cash Flows
TL 2.42
Terminal Value of
Cash Flows
TL 5.68
Cost of Equity
WACC 6.5 %
Cost of Equity 9.0 %
Terminal Value
g
2.0 %
(1970-2012*)
High Correlation with GDP growth.
Weighted Calculation DCF Multiples
Compelling Valuation
19. Weighted Calculation DCF Multiples
P/E EV/EBITDA
2012 E 2013 E 2012 E 2013 E
Grand Average of Aviation Market 11.8 (x) 10.3 (x) 7.9 (x) 7.6 (x)
Turkish Airlines 8.1 (x) 6.5 (x) 7.7 (x) 6.8 (x)
Discount Rate -31% -37% -7% -25%
Current Price TL 6.68
Target Price TL 9.73 TL 10.53 TL 7.16 TL 8.33
Compelling Valuation
20. Potential Risks
Fuel Price Volatility
Airport Capacity
Currency Exchange Rate
Increasing Competitiveness
Impact
Probability
High
High
Risks Factors
Swap and Option Based Derivatives
New Airport with 150 Million Passenger
Capacity
Natural Hedging
Cost Advantage by using Group Strategy
Shields for Risk Factors
32. Back up
Multiple Peer Valuation
EV/EBITDA P/E EV/EBITDAR
2012 E 2013 E 2012 E 2013 E 2013 Target
Developed Market Carriers
Air Canada 4,5 4,2 7,2 6,1
Air FRANCE-KLM 8 6,4 - -
Air New Zealand 5,6 5,4 19,4 9,3
Lufthansa 4,5 4,1 - 12,6
Qantas Airways 4,1 3,3 - -
Average 5,3 4,7 13,3 9,3
Emerging Market Carriers
Air China 9,7 8,2 14,8 12,1
Cathay Pacific 10,9 8,3 - -
China Airlines 16,4 11 - 15,2
China Eastern Airlines 7,4 6,6 9,7 8,1
China Southern Airlines 7,9 6,2 15,6 9,9
EVA Airways 6,9 4,8 - 10,6
Korean Air 9,5 9,5 - -
Average 9,8 7,8 13,4 11,2
Low Cost Carriers
EasyJet 7,7 9,3 7,5 9,2
Ryanair 9,2 11,1 10,2 12,3
AirAsia 9,1 10,2 8,6 9,3
Average 8,7 10,2 8,8 10,3
Grand Average / Target (EBITDAR) 7,9 7,6 11,8 10,3 6
Turkish Airlines 7,7 6,8 8,1 6,5 5,6
Discount Rate -7% -25% -31% -37% -14%
Current Price 6,68 6,68 6,68 6,68 6,68
Target Price 7,16 8,33 9,73 10,53 7,63
Weighted Target Price 8,68
Source: Team’s Estimates and Company’s Annual Report
33. Back up
2012 F 2013 F 2014 F 2015 F 2016 F 2017 F
Terminal
Value
EBIT 650 821 951 1229 1348 1695
Tax Eff. 0,2 0,2 0,2 0,2 0,2 0,2
NOPAT 520 657 761 983 1078 1356
Depreciation 496 573 661 744 925 1107
CAPEX -1291 -1551 -837 -1082 -1767 -1770
Change in Working
Capital
-224 203 72 192 89 449
Free Cash Flow To Firm -499 -118 657 837 326 1141 16542
Discount Factor 0,94 0,88 0,83 0,78 0,73 0,69
DCF -469 -104 544 651 238 783 11351
Perpetuity Growth Rate 0,02
Market Value of Firm 12995
MV of Debt 7504
Market Value of Equity 5491
No of Shares Outstanding 1200
Target Price ($) 4,58
Currency 1,77
Target Price (TL) 8,10
Discounted Cash Flow (FCFF) Valuation
Source: Team’s Estimates and Company’s Annual Report
34. Back up
Regression Based Forecasts
Sales Forecast
Temporal
Regression
Scenerio
Forecasts
Functional
Regression
20%
16% 16%
15%
19%
20%
10%
20%
12 E 13 E 14 E 15 E 16 E 17 E
Weighted Sales Forecast
Team Estimate The Base
Source: Team’s Estimates and Company’s Annual Report
36. Back up
Scenario Based Forecast
18% 19%
13%
10%
14%
18%
-5%
5%
15%
25%
35%
12 E 13 E 14 E 15 E 16 E 17 E
Scenerio Sales Forecast
Team Estimate The Worst The Base The Best
Lack of hub capacity. First phase of new airport launched.
Source: Team’s Estimates and Company’s Annual Report
37. SWOT ANALYSIS
Strengths Weaknesses
1. Impressive Flight Network 1. Airport Insufficiency
2. Innovative Marketing Strategies 2. High Leasing Expenses
3. Young Fleet 3. Lack of Scale
4. Affiliates and Subsidiaries
5. Government Support
Opportunities Threats
1. Growth of The Economy 1. Volatile Costs
2. International and Domestic Market Expansion 2. Threats of Potential Entrants
3. Increasing Air Transportation Usage 3. Substitution of Products
4. Instruction of New Airports 4. Currency Shifts
5. Government's Effective International Economy Policy 5. Political Risks
Source: Team’s Estimates and Institutions & Research Papers
Back up
42. 87%
8%
4% 1%
Split By Revenue
PAX Cargo Charter Other
60%
14%
13%
8%
5%
International Pax Breakdown
Europe Middle East Far East Africa America
Source: Company’s Data
Revenue and PAX Structure
Back up
44. Annual GDP Growth 2011 to 2031
7.1
6.5
4.6
4.4
4.3
4.1
3.9
3.4
3.2
2.8
2.6
1.9
1.3
0 1 2 3 4 5 6 7 8
South Asia
China
Asia Pacific
Africa
Southeast Asia
Latin America
Middle East
CIS
World
Ocenia
North America
Europe
Norheast Asia
Source: HIS Global Insight
Back up
45. 2009 2010 2011 2012 E 2013 E 2014 E 2015 E 2016 E 2017 E
Pax (m) 25,1 29,1 32,6 39 45,4 51,3 54,7 60,1 67,8
Pax Growth (%) 11% 16% 12% 20% 18% 12% 7% 10% 13%
Load Factor (%) 70,9% 73,7% 72,6% 77,7% 78,6% 78,8% 79,2% 77,6% 77,4%
ASK (bn) 56,6 65,1 81,2 96,1 110,3 127 142,1 166,9 196,6
ASK growth (%) 22% 15% 25% 18% 15% 15% 12% 17% 18%
RPK (bn) 40,1 47,9 58,9 74,6 86,2 102 117,2 141,5 171,2
RPK growth (%) 17% 19% 23% 27% 16% 18% 15% 21% 21%
Source: Team’s Estimates and Company Data
Aviation Factor Estimations
Back up
46. Years Central Bank of Turkey OECD Fitch
2013 E 4,0% 4,2% 3,8%
2014 E 5,0% 5,2% 4,5%
2015 E 5,0% 5,5% 5,0%
2016 E - 5,6% 5,0%
2017 E-2030 E - 4,1% -
GDP Growth Forecasts Between 2013-2017
Back up
47. Back up
Number of Aircrafts Between 2013-2017
Years 2007 2008 2009 2010 2011 2012 E 2013 E 2014 E 2015 E 2016 E 2017 E
Our Expected 100 127 133 158 179 202 220 232 239 256 280
Company's
Expected
100 127 133 158 179 200 214 224 234 240 232