Teknosa posts TRY 148 million loss

You can hide the loss in the press release but not on official docs

Teknosa, consumer electronics retailer, posted TRY 148 million (~USD 24.2 million) loss for 2019 Q4. The loss for 2018 was TRY 64 million (~USD 10.5 million). The company’s sales reached TRY 4.1 billion (~USD 672 million), up 19% as compared to 2018 Q4.

These are some figures regarding Teknosa’s financial and operational results. But the weird thing was Teknosa never mentioned the loss in the press release. The company focus on the revenue instead. Here are figures from the results that I’ve gained from the annual report, not the release:

-200 stores in Turkey (205 in 2018)

-40% sales increase at teknosa.com

-7% of the full revenue comes from e-commerce

-Teknosa’s market share is 22,3% in technology supermarkets segment

-Teknosa’s headcount is 2270 and 1923 of them are employed at the stores (1950 in 2018)

-Preo, Teknosa’a private label offering gadgets at affordable rates, sold 6 million units

-Teknosa will be celebrating 20th anniversary this year as Turkey’s first consumer electronics retailer

It is obvious that companies don’t like losses but it is not good to hide such losses in the press releases. By the way Teknosa had a loss of TRY 65 million (~USD 11 million) also in 2018 and profit of TRY 20 million (~USD 3.3 million).

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