Tekfen Holding Anonim Sirketi (TKFEN) investor relations material

Executive summary

• Revenue for the six months ended 30 June 2026 was TRY 28.34 billion, down from TRY 34.36 billion year-over-year, with a gross profit of TRY 3.18 billion, up from TRY 542 million in the prior year period.

• Net profit attributable to owners was TRY 376.9 million, compared to a net loss of TRY 3.17 billion in the same period last year.

• The company implemented inflation accounting due to hyperinflation in Turkey, restating prior period figures for comparability.

Financial highlights

• Operating profit for the period was TRY 170.3 million, a significant turnaround from an operating loss of TRY 2.83 billion year-over-year.

• EBITDA for the period was supported by improved project margins and cost controls.

• Cash and cash equivalents decreased to TRY 6.50 billion from TRY 9.72 billion at year-end 2025.

• Total assets declined to TRY 77.65 billion from TRY 85.02 billion at year-end 2025.

• Net working capital deficit improved to TRY 8.20 billion from TRY 10.69 billion at year-end 2025.

Outlook and guidance

• Management expects to maintain operational continuity, supported by renewed credit facilities and ongoing negotiations with banks.

• Action plans include cost discipline, optimization of procurement, and improved working capital turnover.