J P M O R G A N CEEMEA Credit Research 18 August 2026 CEEMEA Corporates Today Vestel News • Vestel Elektronik 2Q26: Cost savings outpaced by collapsing topline; Remain Underweight Prices in this note are as of the time of writing on Aug 18th Emerging Europe Vestel Elektronik 2Q26: Cost savings outpaced by collapsing topline; Remain Underweight Our take and recommendation: While Vestel Elektronik (Vestel) seems to be making some progress in reducing fixed costs (for instance 1H26 marketing expenses was $198m ...