IST:MRSHL 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	2,919	4,062	4,496	3,145	751.61	506.2
Revenue Growth (YoY)	-46.70%	-9.66%	42.98%	318.37%	48.48%	28.62%
Cost of Revenue	1,915	2,816	3,102	2,262	601.39	355.32
Gross Profit	1,004	1,246	1,394	882.65	150.22	150.88
Selling, General & Admin	735.28	925.06	949.85	628.94	170.7	118.5
Research & Development	18.86	22.7	23.53	15.68	2.8	3.64
Other Operating Expenses	55.25	-10.68	50.07	-6.34	-3.88	-1.59
Operating Expenses	809.38	937.08	1,023	638.27	169.63	120.56
Operating Income	194.85	309.33	370.9	244.37	-19.41	30.32
Interest Expense	-261.28	-455.31	-613.75	-356.08	-57.79	-27.96
Interest & Investment Income	46.29	164.52	222.58	33.21	5.87	2.09
Currency Exchange Gain (Loss)	-270.8	-232.68	-220.73	-80.48	-36.43	16.44
Other Non Operating Income (Expenses)	101.84	-5.61	-79.17	135.06	6.64	-
EBT Excluding Unusual Items	-189.1	-219.74	-320.17	-23.92	-101.12	20.89
Gain (Loss) on Sale of Investments	-3.39	-3.39	-3.39	-2.34	-0.26	-0.23
Legal Settlements	-	-	-1.04	-1.57	-	-0.1
Pretax Income	-192.49	-223.13	-324.59	-27.83	-101.38	20.56
Income Tax Expense	75.09	20.34	-114.34	8.07	-5.08	-1.13
Net Income	-267.58	-243.46	-210.25	-35.9	-96.3	21.68
Net Income to Common	-267.58	-243.46	-210.25	-35.9	-96.3	21.68
Net Income Growth	-	-	-	-	-	15.64%
Shares Outstanding (Basic)	11	11	11	10	10	10
Shares Outstanding (Diluted)	11	11	11	10	10	10
Shares Change (YoY)	0.55%	0.82%	9.04%	-	-	-
EPS (Basic)	-24.34	-22.14	-19.28	-3.59	-9.63	2.17
EPS (Diluted)	-24.34	-22.14	-19.28	-3.59	-9.63	2.17
EPS Growth	-	-	-	-	-	15.64%
Free Cash Flow	546.22	19.71	619.28	329.93	-170.57	112.27
Free Cash Flow Per Share	49.68	1.79	56.79	32.99	-17.06	11.23
Gross Margin	34.41%	30.69%	31.01%	28.07%	19.99%	29.81%
Operating Margin	6.68%	7.61%	8.25%	7.77%	-2.58%	5.99%
Profit Margin	-9.17%	-5.99%	-4.68%	-1.14%	-12.81%	4.28%
Free Cash Flow Margin	18.71%	0.48%	13.77%	10.49%	-22.69%	22.18%
EBITDA	376.84	469.41	525	346.81	1.83	45.06
EBITDA Margin	12.91%	11.56%	11.68%	11.03%	0.24%	8.90%
D&A For EBITDA	181.99	160.08	154.1	102.43	21.24	14.75
EBIT	194.85	309.33	370.9	244.37	-19.41	30.32
EBIT Margin	6.68%	7.61%	8.25%	7.77%	-2.58%	5.99%
Advertising Expenses	-	65.08	81.24	43.52	17.37	12.42

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