IST:GESAN Income Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	20,597	15,187	15,089	7,515	1,232
Revenue Growth (YoY)	35.62%	0.65%	100.77%	510.17%	39.92%
Cost of Revenue	15,695	11,019	9,590	5,597	792.25
Gross Profit	4,902	4,169	5,498	1,918	439.4
Selling, General & Admin	1,523	1,041	678.49	315.72	64.25
Research & Development	137.91	121.41	103.29	34.54	6.76
Other Operating Expenses	-450.45	-32.19	6.74	-42.39	1.05
Operating Expenses	1,210	1,164	798.21	307.07	75.9
Operating Income	3,692	3,005	4,700	1,611	363.5
Interest Expense	-944.54	-384.27	-519.72	-212.41	-59.09
Interest & Investment Income	253.56	1,282	1,386	22.51	37.64
Currency Exchange Gain (Loss)	-	-289.59	-707.39	-322.86	-38.78
Other Non Operating Income (Expenses)	-1,463	-1,319	-2,365	37.83	-
EBT Excluding Unusual Items	1,538	2,293	2,494	1,136	303.28
Gain (Loss) on Sale of Investments	-	-6	-142.81	-	-
Gain (Loss) on Sale of Assets	-	5.65	0.87	-	-
Legal Settlements	-	-	0.66	-	-
Other Unusual Items	-	1.18	-1.7	-0.9	-0.04
Pretax Income	1,538	2,294	2,351	1,135	303.23
Income Tax Expense	428.83	772.94	800.34	329.83	49.81
Earnings From Continuing Operations	1,109	1,521	1,550	805.09	253.42
Minority Interest in Earnings	-205.52	-176.28	-558.29	-154.64	-32.93
Net Income	903.41	1,345	992.11	650.45	220.49
Net Income to Common	903.41	1,345	992.11	650.45	220.49
Net Income Growth	-32.82%	35.55%	52.53%	195.00%	8.81%
Shares Outstanding (Basic)	460	460	460	460	460
Shares Outstanding (Diluted)	460	460	460	460	460
Shares Change (YoY)	-	-	-	-	15.00%
EPS (Basic)	1.96	2.92	2.16	1.41	0.48
EPS (Diluted)	1.96	2.92	2.16	1.41	0.48
EPS Growth	-32.82%	35.55%	52.53%	195.00%	-5.38%
Free Cash Flow	-	-1,217	-4,050	-54.56	-177.85
Free Cash Flow Per Share	-	-2.65	-8.80	-0.12	-0.39
Gross Margin	23.80%	27.45%	36.44%	25.52%	35.68%
Operating Margin	17.92%	19.79%	31.15%	21.43%	29.51%
Profit Margin	4.39%	8.86%	6.58%	8.65%	17.90%
Free Cash Flow Margin	-	-8.01%	-26.85%	-0.73%	-14.44%
EBITDA	4,170	3,194	4,883	1,673	371.84
EBITDA Margin	20.25%	21.03%	32.36%	22.26%	30.19%
D&A For EBITDA	478.91	189.04	182.91	61.97	8.35
EBIT	3,692	3,005	4,700	1,611	363.5
EBIT Margin	17.92%	19.79%	31.15%	21.43%	29.51%
Effective Tax Rate	27.89%	33.69%	34.05%	29.06%	16.43%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.