Kardemir Karabük Demir Çelik Sanayi Ve Ticaret (KRDMD) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was TL 66.7 billion, down from TL 74.0 billion in 2024, with a net loss of TL 1.68 billion compared to a net loss of TL 3.97 billion in the prior year.

• Gross profit increased to TL 5.19 billion from TL 3.99 billion year-over-year.

• Total assets rose to TL 127.0 billion as of December 31, 2025, up from TL 107.3 billion at the end of 2024.

• Equity increased to TL 84.65 billion from TL 67.33 billion year-over-year.

Financial highlights

• Operating profit for 2025 was TL 1.22 billion, up from an operating loss of TL 1.39 billion in 2024.

• EBITDA improved, with gross margin rising to 7.8% from 5.4% year-over-year.

• Net financial expenses increased to TL 3.11 billion from TL 3.05 billion year-over-year.

• Net cash provided by operating activities was TL 2.48 billion, compared to a net outflow of TL 1.05 billion in 2024.

• Cash and cash equivalents at year-end were TL 2.66 billion, down from TL 3.66 billion at the end of 2024.

Outlook and guidance

• Financial statements were prepared in accordance with TFRS and adjusted for high inflation under TMS 29.

• Management expects continued volatility due to inflation and currency fluctuations.