Important Target Report for Çimsa from Global Menkul Değerler!

Forecasts for Çimsa's Development

Since its establishment in 1990, Global Menkul Değerler (#GLBMD) has played a critical role in the development of Turkey's financial markets. This time, it has evaluated Çimsa (#CIMSA) through a comprehensive research study. The target price set for Çimsa over a 12-month period is 72.80 TL, indicating a 71% return potential based on the current share price of 42.60 TL.

Çimsa's Strong Performance Factors

The report highlights Çimsa’s strong balance sheet, high value-added product portfolio, foreign currency revenue structure, and geographical diversity, emphasizing it as a company with high long-term value creation potential. Çimsa supports its growth outlook with its expertise in high-margin products such as white cement and calcium aluminate cement (CAC), alongside its increasing international presence.

Financial Expectations and Growth Projections

Global Menkul Değerler also shared its financial expectations for Çimsa for the years 2025 and 2026. According to the projections, sales revenues are expected to reach 45.47 billion TL in 2025 and 58.26 billion TL in 2026. Furthermore, the EBITDA value is anticipated to be 8.17 billion TL for 2025 and 11.21 billion TL for 2026. Net profit is projected to rise to 3.43 billion TL in 2025 and 5.56 billion TL in 2026.

Financial Indicators and Valuation

Çimsa’s Net Debt/EBITDA ratio is expected to be 2.38x at the end of 2024, 2.64x at the end of 2025, and 2.48x in 2026. According to 2026 estimates, Çimsa’s EV/EBITDA and P/E multiples will trade at discounts of 33% and 46%, respectively, compared to its global peers, at 5.5x and 7.2x.

Evaluation of Risks and Catalysts

The report listed the current risk factors for Çimsa as follows: potential increases in petcoke costs, weaker-than-expected demand, and high competition in the sector. However, among the highlighted factors, the increase in domestic and international cement demand, low petcoke prices, and product price increases due to rising consumption are evaluated as significant catalysts for Çimsa shares.