Verusa Holding A.S. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 10, 2019 at 12:07 am IST
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Verusa Holding A.S. Announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced sales was TRY 43.171 million compared to TRY 34.838 million a year ago. Operating income was TRY 28.623 million compared to operating loss of TRY 2.883 million a year ago. Net income was TRY 22.144 million compared to net loss of TRY 12.578 million a year ago. For the half year, sales was TRY 53.328 million compared to TRY 64.054 million a year ago. Operating income was TRY 45.516 million compared to TRY 5.250 million a year ago. Net income was TRY 32.526 million compared to net loss of TRY 2.367 million a year ago.
Verusa Holding AS is a Turkey-based private equity and venture capital investment company. It specializes in recapitalizations, bridge financing, growth capital, restructuring, growth equity, growth stage, and Pre-Initial Public Offering (Pre-IPO) companies. Its investment strategy is to participate in both domestic and foreign small and medium enterprises (SME). Its investment process is divided in the following stages: determination of strategy, identification and screening, strategic and commercial due diligence, performance improvement and value creation, as well as exit. The Company is active in the energy, finance, steel, chemical, technology, logistics and mining industries. Its investments include Verusaturk Venture Capital Investment Trust Inc., Ata Wholesale Electric Power Inc., Aldem Steel Industry and Trade Inc., Innoted Technology Inc., Aciselsan Acipayam Cellulose Industry and Trade Inc., Enda Energy Holding and Profreight Transportation Services Inc., among others.