Mazhar Zorlu Holding A.S. (IST:MZHLD)

Mazhar Zorlu Holding A.S. Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	1,529	1,553	2,156	1,483	431.02	268.35
Revenue Growth (YoY)	-23.64%	-27.99%	45.34%	244.17%	60.62%	37.25%
Cost of Revenue	1,308	1,477	1,755	1,283	333.02	188.64
Gross Profit	220.21	75.8	400.91	200.87	97.99	79.72
Selling, General & Admin	318.24	323.58	319.79	180.73	51.16	46.75
Other Operating Expenses	-14.43	-20.61	26.98	20	18.89	2.9
Operating Expenses	303.99	302.97	346.77	200.72	70.05	49.66
Operating Income	-83.78	-227.17	54.14	0.15	27.94	30.06
Interest Expense	-29.66	-20.35	-9.53	-5.9	-2.1	-0.26
Interest & Investment Income	95.56	81.67	54.02	55.57	18.48	20.42
Currency Exchange Gain (Loss)	32.54	12.59	18.89	15.07	1.51	0.52
Other Non Operating Income (Expenses)	-161.44	-169.04	-125.21	-17.64	-15.46	-6.42
EBT Excluding Unusual Items	-146.77	-322.32	-7.69	47.24	30.38	44.31
Gain (Loss) on Sale of Investments	-30.32	-30.57	-24.93	-9.19	-0.08	-0.06
Legal Settlements	-1.19	-1.05	28.91	93.49	-85.23	-0.99
Pretax Income	-178.29	-353.93	-3.71	131.54	-54.93	43.27
Income Tax Expense	95.56	31.3	-68.11	134.49	3.99	10.17
Earnings From Continuing Operations	-273.84	-385.23	64.4	-2.95	-58.91	33.1
Minority Interest in Earnings	238.17	146.36	-71.89	-9.59	31.67	-41.68
Net Income	-35.67	-238.87	-7.49	-12.54	-27.25	-8.58
Net Income to Common	-35.67	-238.87	-7.49	-12.54	-27.25	-8.58
Shares Outstanding (Basic)	109	109	109	109	109	109
Shares Outstanding (Diluted)	109	109	109	109	109	109
EPS (Basic)	-0.33	-2.20	-0.07	-0.12	-0.25	-0.08
EPS (Diluted)	-0.33	-2.20	-0.07	-0.12	-0.25	-0.08
Free Cash Flow	-113.02	15.46	-226.64	-44.19	-183.66	-4.91
Free Cash Flow Per Share	-1.04	0.14	-2.09	-0.41	-1.69	-0.04
Gross Margin	14.41%	4.88%	18.59%	13.54%	22.74%	29.71%
Operating Margin	-5.48%	-14.63%	2.51%	0.01%	6.48%	11.20%
Profit Margin	-2.33%	-15.38%	-0.35%	-0.84%	-6.32%	-3.20%
Free Cash Flow Margin	-7.39%	1.00%	-10.51%	-2.98%	-42.61%	-1.83%
EBITDA	29.69	-142.4	100.14	30.62	33.7	32.24
EBITDA Margin	1.94%	-9.17%	4.64%	2.06%	7.82%	12.01%
D&A For EBITDA	113.46	84.77	46	30.47	5.76	2.18
EBIT	-83.78	-227.17	54.14	0.15	27.94	30.06
EBIT Margin	-5.48%	-14.63%	2.51%	0.01%	6.48%	11.20%
Effective Tax Rate	-	-	-	102.24%	-	23.50%
Advertising Expenses	-	3.4	13.71	15.97	2.51	7.84

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.