Dogus Otomotiv Servis ve Ticaret (DOAS) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue fell 24% YoY to TRY 168.7bn and net profit fell 69% to TRY 2.01bn; passenger-car market share rose 0.8pp to 16.5%.

• Income from associates rose 13% YoY to TRY 1.93bn; FY 2026 plans prioritize profitability, market share, expense discipline and investment in digitalization, mobility, electrification and sustainability.

Financial highlights

• 9M revenue was TRY 168.7bn, down 24% YoY; gross profit fell 34% to TRY 19.5bn and operating profit fell 67% to TRY 4.57bn.

• 9M net profit was TRY 2.01bn, down 69% YoY; profit before tax declined 40% to TRY 5.62bn.

• Net financing costs decreased 32% YoY to TRY 4.83bn; financial income rose 53% to TRY 4.13bn, while financial expenses declined 9% to TRY 8.95bn.

• Tangible and intangible asset investments totaled TRY 2.615bn in 9M 2026, versus TRY 3.720bn in 9M 2025.

Outlook and guidance

• FY 2026 domestic automotive market forecast: ~1.15m units; sales target: 130,000 units, excluding Škoda.

• FY 2026 CapEx expectation is ~TRY 4.0bn, with priorities including renewable energy, digitalization, mobility, electrification, EV charging stations, machinery and test vehicles.

• Forecasts may be reassessed in light of geopolitical risks, exchange-rate levels and changing macroeconomic conditions.