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Koç Holding (KCHOL) investor relations material
Koç Holding H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated net income surged to TL 22.0 billion in 2025 from TL 1.7 billion in 2024, reflecting an 1187% increase year-over-year.
Combined revenue reached TL 4.6 trillion in 2025, up 4% year-over-year, with strong execution and financial discipline.
Largest industrial and services group in Turkey, with 46% of revenues from international markets and 31% from international sales.
Maintained a net cash position of $815 million at the holding level, with 69% in hard currency.
Portfolio diversification and robust segment contributions supported performance in a volatile macroeconomic environment.
Financial highlights
Gross profit increased 9% year-over-year to TL 469.4 billion.
Operating profit rose to TL 155.5 billion, with segment operating profits led by automotive and energy.
Profit before tax was TL 124.5 billion; total assets reached TL 5.3 trillion, up 4% year-over-year.
Dividend income reached TL 33.4 billion; TRY 17.5 billion distributed in dividends in Q2.
Earnings per share for 2025 was 8.679 Kr, compared to 0.674 Kr in 2024.
Outlook and guidance
Focus on sustaining profitability, reinforcing the balance sheet, and leveraging portfolio resilience as the group approaches its 100th anniversary.
2026 guidance: Tüpraş net refining margin expected at $6.0–7.0/bbl; Tofaş production to rise to ~29,000 units; Arçelik revenue growth to be flattish in Turkey and low single digit internationally.
Yapı Kredi targets TL loan growth of 43% and FC loan growth of 23% in 2026.
Continued appetite for M&A, prioritizing targets with strong cash conversion and EBITDA metrics.
No earmarked plans for the $600 million club loan; funds reserved for potential acquisitions and liquidity needs.
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