IST:MAKIM Income Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	974.47	1,054	1,142	552.66	144.83	82.3
Revenue Growth (YoY)	-32.52%	-7.77%	106.69%	281.59%	75.98%	21.66%
Cost of Revenue	763.88	736.87	678.68	369.26	87.29	49.66
Gross Profit	210.59	316.74	463.63	183.4	57.54	32.64
Selling, General & Admin	192.62	150.12	87.83	43.67	10.58	7.55
Research & Development	5.6	4.68	11.32	6.37	1.04	1.08
Other Operating Expenses	12.71	-3.04	-4.42	-2.09	-0.7	0.14
Operating Expenses	210.94	151.76	94.73	47.95	10.92	8.77
Operating Income	-0.35	164.97	368.9	135.44	46.62	23.87
Interest Expense	-46.61	-40.83	-33.35	-1.89	-0.79	-0.4
Interest & Investment Income	55.21	27.63	9.77	0.81	1.32	1.1
Currency Exchange Gain (Loss)	-48.97	3.66	55.7	8.99	10.8	3.04
Other Non Operating Income (Expenses)	-88.35	-94.61	-177.29	-69.82	-0.47	-0.25
EBT Excluding Unusual Items	-129.06	60.82	223.73	73.53	57.48	27.35
Gain (Loss) on Sale of Investments	-3.04	-0.01	-	-	-0.05	-
Gain (Loss) on Sale of Assets	0.03	0.03	0.04	-	-	-
Legal Settlements	-	-	-	-0.73	-0.59	-
Pretax Income	-132.08	60.84	223.77	72.8	56.84	27.35
Income Tax Expense	-23.71	5.48	30.03	-23.09	-0.3	5.33
Net Income	-108.36	55.36	193.73	95.9	57.14	22.03
Net Income to Common	-108.36	55.36	193.73	95.9	57.14	22.03
Net Income Growth	-	-71.42%	102.02%	67.82%	159.41%	38.58%
Shares Outstanding (Basic)	108	108	112	112	112	24
Shares Outstanding (Diluted)	108	108	112	112	112	24
Shares Change (YoY)	-3.42%	-3.43%	-	-	365.04%	-
EPS (Basic)	-1.00	0.51	1.73	0.86	0.51	0.91
EPS (Diluted)	-1.00	0.51	1.73	0.86	0.51	0.91
EPS Growth	-	-70.41%	102.02%	67.82%	-44.22%	38.58%
Free Cash Flow	-139.86	40.75	-39.5	-8.8	7.52	15.44
Free Cash Flow Per Share	-1.29	0.38	-0.35	-0.08	0.07	0.64
Dividend Per Share	-	-	-	0.083	-	-
Gross Margin	21.61%	30.06%	40.59%	33.18%	39.73%	39.66%
Operating Margin	-0.04%	15.66%	32.29%	24.51%	32.19%	29.00%
Profit Margin	-11.12%	5.25%	16.96%	17.35%	39.45%	26.77%
Free Cash Flow Margin	-14.35%	3.87%	-3.46%	-1.59%	5.19%	18.77%
EBITDA	31.94	185.14	377.72	139.02	47.17	24.32
EBITDA Margin	3.28%	17.57%	33.07%	25.16%	32.57%	29.55%
D&A For EBITDA	32.28	20.17	8.82	3.58	0.55	0.45
EBIT	-0.35	164.97	368.9	135.44	46.62	23.87
EBIT Margin	-0.03%	15.66%	32.29%	24.51%	32.19%	29.00%
Effective Tax Rate	-	9.00%	13.42%	-	-	19.47%
Advertising Expenses	-	-	-	-	0.9	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.