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betek.com.tr

Founded Year

1988

Stage

Acquired | Acquired

About Betek Boya

Betek Boya develops products in the fields of concrete admixtures, ready-mixed mortars and water insulation materials needed by the construction materials industry.

Betek Boya Headquarter Location

Ural Sk. No:38 Zumrutevler Mahallesi

Istanbul, 34852,

Turkey

0 216 571 10 00

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Betek Boya Patents

Betek Boya has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

7/1/2015

1/12/2016

Saddles, Headgear (horse), Horse harness, Horse protective equipment, Horse tack and equipment

Grant

Application Date

7/1/2015

Grant Date

1/12/2016

Title

Related Topics

Saddles, Headgear (horse), Horse harness, Horse protective equipment, Horse tack and equipment

Status

Grant

Latest Betek Boya News

Nippon Paint : Revision of FY2021 Forecast Conference Call Presentation Summary 834KB

Oct 15, 2021

10/13 10/15/2021 | 04:02am EDT Message : Oct 12, 2021 Good afternoon, everyone. Thank you very much for taking the time today, despite the last-minute notification, to participate in our conference call regarding the revision of our consolidated earnings forecast for FY2021 released on 15:30 today. I would like to begin by explaining the background to the revision of the consolidated earnings forecast we announced today. We upwardly revised the consolidated revenue forecast to 1,010 billion yen from 890 billion yen announced on August 10, 2021. The reasons are that we assumed the strong market conditions to continue in the decorative paints business of NIPSEA China and Betek Boya and robust demand in other regions except in Japan. The upward revision was also attributable to the weak yen against major currencies. For the Japan segment, we assumed that demand would remain weak in Japan due to COVID. 1 As for operating profit, our previous forecast factored in the shortage and increases in raw materials prices worldwide to a certain degree. However, we assumed that the raw material availability issue will reach a peak in 3Q and calm down considerably in 4Q. Based on this assumption, we upwardly revised the operating profit forecast from 87.0 billion yen to 102.0 billion yen in August. A rough breakdown is: an around 6.0 billion yen increase due to higher revenue and cost reduction in our operating regions, a 6.0 billion yen increase due to the reduction of HD expenses, and a 3.0 billion yen increase due to the transfer of subsidiaries. Taking into consideration our recent performance trends, we revised the revenue forecast to 1,000 billion yen, basically assuming that the revenue growth will follow the same trend we anticipated, with some plus or minus, when we made the previous forecast in August. The overall market conditions for decorative paints have remained firm. Actually, decorative paints revenue of NIPSEA China is slightly higher than our August forecast. In our automotive coatings business, on the other hand, customers cut production, in particular in September and October due to the shortage of semiconductor chips and parts availability issue due to COVID. As a result, our sales are falling below the August forecast. All in all, we expect that our consolidated revenue will be roughly on a part with the August forecast. On the profit front, our assumption as of August was wrong that the raw materials price inflation would reach a peak in 3Q. In fact, the crude oil prices have continued to rise as of today. The prices of other raw materials have been on an upward trend as well. Based on the preliminary 3Q figures as of the end of September and the estimated figures for 4Q, we expect that our operating profit for FY2021 will be lower than we forecast in August due to the above factors. We may have been able to provide more information if we had waited until the announcement of our 3Q financial results in November to release the update of the consolidated earnings guidance. However, we made the announcement today thinking that we should break the news to the stock market first from the viewpoint of timely disclosure. Please note that the figures provided are rough numbers. 2 The overview of the revision is as I just explained: the forecast for consolidated revenue was revised downward by 1% and that for operating profit, profit before tax, and net income by 20-plus % compared with the forecast released in August. There is no change to the assumptions for exchange rates. In this sense, this earnings guidance is on a constant exchange rate basis compared with the guidance released in August. 3 This page shows the breakdown of revision to the revenue forecast from August. The biggest factor for the revision was the Japan segment, with a 6.0 billion yen decrease from the August forecast. The automotive coatings business was the biggest contributor, but the decorative coatings and marine coatings businesses were subject to downward revision as well. On the other hand, we increased the revenue forecast for NIPSEA China by 1.0 billion yen. Of this, the forecast for decorative paints revenue was raised slightly while that for industrial coatings revenue was lowered slightly. As a result, the overall revenue forecast was slightly above the August forecast. As for Asia (Excepting NIPSEA China), the biggest factor was Indonesia, where we operate both the decorative paints business and automotive coatings business, followed by Singapore Group that includes Vietnam. In Oceania, we project that revenue will be roughly in line with the forecast, although we see factors that would drive down revenue such as lockdowns and raw materials price inflation. In North America, decorative paints business has remained robust, while the automotive coatings business was the major factor for the downward revision. In the meantime, Betek Boya in Other region has maintained strong revenue. 4 This page shows the breakdown of revision to the operating profit forecast from August. In the Japan segment, the biggest factor for the revision was the automotive coatings business, as with the revenue forecast revision, with a 3.0 billion yen decrease from the August forecast. In terms of operating profit, NIPSEA China was the biggest factor for the forecast revision, with a 16.5 billion yen decrease. The ongoing power shortage in China has had no direct impact on our factory operations. However, it has forced raw materials manufacturers to cut production, which is one of the factors that have driven the prices of raw materials. This revenue forecast revision of 16.5 billion yen includes potential provision for bad debt. Please note that this provisioning is only based on our internal estimation but not agreed with the accounting auditor. In the Americas, the main contributor of revision was the automotive coatings business. Total of other regions is the sum of Asia (Excepting NIPSEA China) and other regions. In total of other regions, no single region was a big contributor. For Betek Boya, for instance, we forecast a revenue growth, but expect a lower operating profit than the August forecast due to the depreciation of Turkish lira considering the company's high dependence on imports for the necessary raw materials. 5 This is an excerpt of the original content. To continue reading it, access the original document here . Attachments

  • When was Betek Boya founded?

    Betek Boya was founded in 1988.

  • Where is Betek Boya's headquarters?

    Betek Boya's headquarters is located at Ural Sk. No:38, Istanbul.

  • What is Betek Boya's latest funding round?

    Betek Boya's latest funding round is Acquired.

  • Who are the investors of Betek Boya?

    Investors of Betek Boya include Nippon Paint Holdings.

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