Teknosa Iç ve Dis Ticaret Anonim Sirketi (TKNSA) investor relations material

Executive summary

• Navigated persistent macroeconomic challenges, including high interest rates, inflation, and geopolitical tensions, while outperforming the panel and tech online markets in the first half of 2026.

• Leveraged omni-channel capabilities, marketplace expansion, and digital initiatives to maintain competitive positioning and drive operational improvements.

• Strategic transformation and cost management initiatives remain on track for long-term value creation.

• Operated 137 stores and an e-commerce platform, with a workforce of 2,436 as of June 2026.

Financial highlights

• Revenues remained flat year-over-year at TL 46,402,485 in 1H 2026, outperforming the declining panel market.

• Like-for-like sales increased by 6% year-over-year, reflecting store network strength.

• Gross margin declined to 11.7% in 1H 2026 from 13.5% in 1H 2025, with sequential improvement to 11.9% in Q2.

• EBITDA margin was 3.1% in 1H 2026, down from 4.0% in 1H 2025, but improved to 3.4% in Q2.

• Net loss for 1H 2026 was TL 1,496,095, up from TL 1,295,410 in 1H 2025, mainly due to high financial costs.

Outlook and guidance

• Major AI-driven and digital initiatives expected to be deployed in Q3, with financial benefits anticipated from Q4 onward.

• Focus remains on restoring a negative net working capital position, reducing net debt, and disciplined inventory and liquidity management.

• No capital increase planned for 2026; management aims to manage debt with internal resources.

• Recovery in net profitability expected as operational improvements combine with eventual normalization of interest rates.

• Commitment to reducing Scope 1 and 2 emissions by 42% by 2030 and achieving Net Zero by 2050.