Turkey · Delayed Price · Currency is TRY Migros Ticaret A.S. Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw 2.7% sales growth and strong online expansion, but gross margin declined due to heavy promotions and inflationary pressures. Guidance for sales and EBITDA margins is maintained, with expectations for improved performance in H2 driven by seasonality and operational efficiencies.
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Delivered strong real and nominal sales growth, maintained market share, and expanded online and fintech operations. Despite cost pressures from labor transitions and inflation, profitability and cash flow improved, with guidance and expansion targets reaffirmed.
Fiscal Year 2025
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Q3 2025 saw strong sales, margin, and market share growth despite economic headwinds, with robust online and meal delivery expansion, improved operational efficiency, and a healthy balance sheet. Full-year real growth guidance was revised down due to higher inflation, but profitability outlook improved.