Foreks News Service 4Q2023 stock  earnings  survey

Foreks  Haber’s (News Service) is the leading wire service coverign economy and financial markets.  It just published its  4th quarter 2023 financial results survey on non-financial sectors. Banks have already begun releasing their results, while most non-financial companies  have been granted an extension by Borsa Istanbul Adminstration until May 20 to re-state their 2023  results according to inflation accounting standards, instituted   only in the final monthls of 2023.  Firms will release inflation-adjusted B/S and I/S data for end–2023, but will not be taxed on those.


According to the survey conducted by Foreks Haber with the participation of 19 brokerage firms, it was estimated that there would be a 4.9 percent decrease in the total non-bank net profit included in the survey in the 4th quarter of 2023 compared to the same period of the previous year.

While a very high annual profit increase of 219.7 percent was expected in the quarrying & non-precious minerals sector included in the survey, an increase of 14.6 percent was predicted for the industrial index and 80.8 percent for the food sector.

While the annual expectation for the chemical sector shares indicates a 21.4 percent profit decrease, a 5.5 percent decrease is expected in the real estate sector, a 22 percent decrease in the communication sector and an 82.9 percent decrease in the electricity sector.


In this survey period, forecasts for companies that are not subject to inflation accounting, as well as expectations for companies that are subject to inflation accounting, are given according to the old format, that is these forecasts are not based on inflatino accounting financial statements, for which PA Turkey could find no source.

According to the earlier  survey on the banking and insurance sectors organized by Foreks Haber on January 26, 2024 with the participation of 16 investment banks and brokerage houses, it is estimated that there will be a 13.5 percent decrease in the total net profit of the banks in the survey in the 4th quarter of 2023 compared to the same period of the previous year. It was expected that there would be a decline of 18.90 percent on a quarterly basis.

While the annual estimate for the net profit of the insurance sector in the survey was 124.50 percent increase, expectations pointed to a 19.20 percent decrease on a quarterly basis.



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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and and has contributed to the financial daily Referans and the liberal daily Radikal.