IST:HOROZ 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	12,026	11,272	7,870	4,089	3,433
Revenue Growth (YoY)	6.69%	43.21%	92.47%	19.10%	-
Cost of Revenue	10,870	9,906	7,205	3,824	3,302
Gross Profit	1,156	1,366	664.99	265.46	131.08
Selling, General & Admin	1,188	1,076	571.81	240.81	210.77
Other Operating Expenses	-204.78	-88.98	107.85	12.46	46.26
Operating Expenses	982.87	987.48	679.65	253.27	257.04
Operating Income	173.08	378.68	-14.66	12.2	-125.96
Interest Expense	-518.53	-663.7	-403.98	-257.83	-209.79
Interest & Investment Income	243.67	396.6	20.05	1.66	51.94
Earnings From Equity Investments	-	-	-	51.84	52.98
Currency Exchange Gain (Loss)	56.44	-10.86	-53.98	0.24	4.22
Other Non Operating Income (Expenses)	105.45	382.08	713.06	536.42	479.61
EBT Excluding Unusual Items	60.11	482.79	260.48	344.53	253
Gain (Loss) on Sale of Investments	-0.72	-10.9	-0.3	-20.87	-
Legal Settlements	-16.26	-6.14	-13.68	-5.66	-8.47
Pretax Income	43.13	465.75	246.51	318	244.53
Income Tax Expense	118.97	215.64	98.69	14.06	-33.7
Earnings From Continuing Operations	-75.84	250.12	147.82	303.94	278.23
Earnings From Discontinued Operations	-	682.74	48.88	-	-
Net Income to Company	-75.84	932.86	196.69	303.94	278.23
Minority Interest in Earnings	7.74	-16.48	0.24	1.27	0.93
Net Income	-68.09	916.38	196.94	305.21	279.17
Net Income to Common	-68.09	916.38	196.94	305.21	279.17
Net Income Growth	-	365.31%	-35.47%	9.33%	-
Shares Outstanding (Basic)	90	90	72	100	100
Shares Outstanding (Diluted)	90	90	72	100	100
Shares Change (YoY)	-	24.83%	-27.51%	-	-
EPS (Basic)	-0.75	10.13	2.72	3.05	2.79
EPS (Diluted)	-0.75	10.13	2.72	3.05	2.79
EPS Growth	-	272.75%	-10.98%	9.33%	-
Free Cash Flow	379.92	1,503	595.12	426.66	344.39
Free Cash Flow Per Share	4.20	16.61	8.21	4.27	3.44
Gross Margin	9.61%	12.12%	8.45%	6.49%	3.82%
Operating Margin	1.44%	3.36%	-0.19%	0.30%	-3.67%
Profit Margin	-0.57%	8.13%	2.50%	7.46%	8.13%
Free Cash Flow Margin	3.16%	13.33%	7.56%	10.43%	10.03%
EBITDA	1,138	1,579	142.56	113.23	-46.24
EBITDA Margin	9.46%	14.01%	1.81%	2.77%	-1.35%
D&A For EBITDA	964.95	1,200	157.22	101.03	79.72
EBIT	173.08	378.68	-14.66	12.2	-125.96
EBIT Margin	1.44%	3.36%	-0.19%	0.30%	-3.67%
Effective Tax Rate	275.82%	46.30%	40.04%	4.42%	-
Advertising Expenses	16.59	21.99	-	-	-

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