News regarding Yıldız Holding combining its short-term loans, many in number and all managed separately, under an umbrella of a long-term syndication loan, were published across media and some internet websites. Work is ongoing under the leadership of a local bank within this respect. Accordingly, Yıldız Holding successfully completed the conversion process of 1 Billion USD worth of these short-term loans in to a long-term loan last week. Bizim Toptan does not have a financial loan within this respect.
Last week, Yıldız Holding management had its usual meeting with banks related to its preliminary 2017 Full-Year results. Yıldız Holding actualized 22% revenue growth compared to the previous year, completing 2017 with 42,3 Billion TL. Accordingly, as a result of the successfully growing business, 19% growth is expected for 2018 as well. Within this respect, Bizim Toptan. is foreseen to close the year 2017 above the market expectations, and targets double-digit growth in 2018.
This disclosure is being made in accordance with Capital Markets Law, Communiqué On Material Events Disclosure, and with respect to the related bourse’s request.
Bizim Toptan Satış Mağazaları A.Ş.