Although the Company recorded TL 97,376,000 of net profit in its consolidated financial statements prepared as per the Capital Market Law and related Communiqués and TL 94,096,919 of net profit in its statutory financial statements prepared as per the Turkish Commercial Code and Tax Procedure Law, the Board of Directors of Vestel Elektronik decided to propose no dividend payment for the year 2014 due to accumulated losses from previous periods at the Annual General Assembly meeting.
Click here for the Dividend Distribution Table.
The 2014 Ordinary General Assembly Meeting of our Company will be held to discuss the following agenda items at the address of Zorlu Center, 34340 Beşiktaş/ISTANBUL on 27 April 2015 at 10:30 a.m.
Click here for the Agenda
Vestel Elektronik sold Vestel Beyaz Eşya shares with a nominal value of TL 3,139 on Borsa Istanbul at TL15.00 per share on March 25, 2015. Following the transaction, the Company’s share in Vestel Beyaz Eşya remained at 94.62%.
Vestel Elektronik sold Vestel Beyaz Eşya shares with a nominal value of TL 54,000 on Borsa Istanbul within a price range of TL15.00-15.05 per share on March 24, 2015. Following the transaction, the Company’s share in Vestel Beyaz Eşya fell from 94.65% to 94.62%.
Vestel Elektronik sold Vestel Beyaz Eşya shares with a nominal value of TL 6,849 on Borsa İstanbul within a price range of TL 15.25-15.30 per share on March 23, 2015. Following the transaction, the Company’s share in Vestel Beyaz Eşya remained at 94.65%.
Vestel Elektronik sold Vestel Beyaz Eşya shares with a nominal value of TL97,268 on Borsa Istanbul at a price range of TL15.25-15.35 per share on March 20, 2015. Following the transaction, the Company’s share in Vestel Beyaz Eşya fell from 94.71% to 94.65%.
Pursuant to our material event disclosure dated 24.02.2015; the tablet set tender held by the Ministry of National Education has not been concluded in our Company’s favor.
Vestel Elektronik announced total revenues of US$ 3,550mn and net profit of US$ 45mn in FY14.
Click here for FY14 CMB financials.
Today, Vestel Elektronik has participated in the Ministry of National Education’s tender for the award of 700,000 Tablet Sets within the scope of Movement of Enhancing Opportunities and Improving Technology (FATIH) Project. Further developments will be shared with the public.
Mr. Turan Erdoğan, Chairman of the Executive Board of Vestel Elektronik Sanayi ve Ticaret A.Ş., has shared his evaluations regarding Vestel Elektronik’s performance in 2014 at a press meeting held yesterday evening.
Vestel Elektronik’s 2014 consolidated revenues are expected to exceed TL 7.5 billion, showing a more than 20% growth as compared to 2013. While domestic revenues are foreseen to reach more than TL 2 billion, implying an above 30% yoy growth, export revenues are expected to exceed TL 5.5 billion with a nearly 20% growth. R&D expenditures for Vestel Elektronik are expected to be around TL 170 million in 2014.
In its newly launched product, smart phones, Vestel Elektronik targets nearly 1 million units of domestic sales in 2015. In addition, under its license agreement with Sharp in the white goods business, Vestel Elektronik foresees around €150 mn of annual revenues from the sales of Sharp branded products in the medium term.