IST:MRSHL 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	4,375	5,317	4,496	3,145	751.61
Revenue Growth (YoY)	-17.72%	18.25%	42.98%	318.37%	48.48%
Cost of Revenue	2,525	3,685	3,102	2,262	601.39
Gross Profit	1,849	1,631	1,394	882.65	150.22
Selling, General & Admin	1,376	1,211	949.85	628.94	170.7
Research & Development	41.03	29.71	23.53	15.68	2.8
Other Operating Expenses	47.01	-13.98	50.07	-6.34	-3.88
Operating Expenses	1,464	1,227	1,023	638.27	169.63
Operating Income	385.4	404.89	370.9	244.37	-19.41
Interest Expense	-519.81	-595.96	-613.75	-356.08	-57.79
Interest & Investment Income	94.21	215.35	222.58	33.21	5.87
Currency Exchange Gain (Loss)	-277.32	-304.56	-220.73	-80.48	-36.43
Other Non Operating Income (Expenses)	96.15	-7.34	-79.17	135.06	6.64
EBT Excluding Unusual Items	-221.37	-287.62	-320.17	-23.92	-101.12
Gain (Loss) on Sale of Investments	-4.43	-4.43	-3.39	-2.34	-0.26
Legal Settlements	-	-	-1.04	-1.57	-
Pretax Income	-225.81	-292.05	-324.59	-27.83	-101.38
Income Tax Expense	65.69	26.62	-114.34	8.07	-5.08
Net Income	-291.49	-318.67	-210.25	-35.9	-96.3
Net Income to Common	-291.49	-318.67	-210.25	-35.9	-96.3
Shares Outstanding (Basic)	11	11	11	10	10
Shares Outstanding (Diluted)	11	11	11	10	10
Shares Change (YoY)	-	0.82%	9.04%	-	-
EPS (Basic)	-26.51	-28.99	-19.28	-3.59	-9.63
EPS (Diluted)	-26.51	-28.99	-19.28	-3.59	-9.63
Free Cash Flow	150.79	25.8	619.28	329.93	-170.57
Free Cash Flow Per Share	13.71	2.35	56.79	32.99	-17.06
Gross Margin	42.28%	30.69%	31.01%	28.07%	19.99%
Operating Margin	8.81%	7.61%	8.25%	7.77%	-2.58%
Profit Margin	-6.66%	-5.99%	-4.68%	-1.14%	-12.81%
Free Cash Flow Margin	3.45%	0.48%	13.77%	10.49%	-22.69%
EBITDA	591.23	614.42	525	346.81	1.83
EBITDA Margin	13.51%	11.56%	11.68%	11.03%	0.24%
D&A For EBITDA	205.83	209.53	154.1	102.43	21.24
EBIT	385.4	404.89	370.9	244.37	-19.41
EBIT Margin	8.81%	7.61%	8.25%	7.77%	-2.58%
Advertising Expenses	18.31	85.19	81.24	43.52	17.37

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