Tekfen Holding Anonim Sirketi (TKFEN) investor relations material

Executive summary

• 9M 2026 revenue was TRY 41.17bn, down from TRY 50.40bn YoY; net loss narrowed to TRY 445.9m from TRY 4.36bn.

• Gross profit rose to TRY 3.41bn from TRY 1.03bn, while operating loss narrowed to TRY 957.5m from TRY 4.47bn.

Financial highlights

• 9M revenue fell to TRY 41.17bn from TRY 50.40bn; cost of revenue declined to TRY 37.77bn from TRY 49.36bn.

• 9M loss before tax was TRY 404.8m, versus TRY 4.51bn; net monetary position gain was TRY 2.94bn, versus TRY 3.00bn.

• Q3 revenue was TRY 11.25bn versus TRY 14.13bn YoY; gross profit was TRY 44.8m versus TRY 461.1m, and net loss was TRY 844.9m versus TRY 1.01bn.

• Operating cash generated was TRY 2.12bn before interest, employee benefits, provisions and tax; cash and cash equivalents fell to TRY 7.48bn from TRY 10.26bn at year-end.

Outlook and guidance

• Negotiations continue on project claims and cost increases; North Field East cost-saving measures, supplementary agreements and incentive payments improved the estimated project loss.

• Phosphate 3 claims for cost escalation and schedule extensions are updated monthly amid employer delays, procurement disruption and scope changes.