Haci Ömer Sabanci Holding (SAHOL) investor relations material

Executive summary

• Achieved a significant turnaround with consolidated net income of TL 14.5bn in H1 2026, reversing a prior-year loss, driven by operational discipline, portfolio simplification, and exits from Akçansa and Carrefoursa, which boosted liquidity and financial flexibility.

• Strategic focus on sustainable, profitable returns with increased investments in energy and material technologies, supported by a diversified and flexible portfolio.

• Energy remained the largest contributor to profitability, with material technologies segment benefiting from international cement volumes and favorable product mix.

• Banking profitability recovered year-over-year, aided by improved net interest margins and strong capital adequacy.

Financial highlights

• Consolidated net income reached TL 14.5bn in H1 2026, a sharp recovery from a prior-year loss, with combined EBITDA rising 13% to TL 110.5bn and non-bank EBITDA margin improving to 13.5%.

• Combined revenues declined 9-10% year-over-year, mainly due to lower contributions from both bank and non-bank businesses.

• Akçansa exit generated a one-off gain of TL 8.9bn.

• Holding-only net cash reached a record high of TL 35.3bn after Akçansa exit and dividend income.

• Non-bank net debt/EBITDA at 1.7x, below the 2.0x policy threshold.

Outlook and guidance

• Enerjisa Enerji raised its full-year guidance, expecting operational earnings of TL 80-85bn and underlying net income of TL 13-15bn.

• Investments for Enerjisa Enerji projected at TL 30-35bn, with a regulated asset base of TL 110-120bn.

• Management continues to evaluate capital allocation alternatives, including share buybacks, but prioritizes improving portfolio returns.