Turkey · Delayed Price · Currency is TRY Haci Ömer Sabanci Holding A.S. Earnings Call Transcripts
Fiscal Year 2026
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Portfolio simplification and strategic exits drove a turnaround to TRY 14.5 billion net income in H1, with non-bank EBITDA margin and ROE both improving. Strong cash position and disciplined capital allocation support ongoing investments, while market discount to NAV remains high at 58%.
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Q1 2026 saw a strong swing to profitability with TRY 318 million net income and improved ROE, driven by margin expansion and portfolio optimization, including major asset sales. Energy and materials segments showed resilience, while macro risks and higher financing costs persist.
Fiscal Year 2025
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Returned to profitability in 2025 with strong EBITDA growth, improved cash flow, and a resilient balance sheet. Energy, banking, and materials segments drove performance, while disciplined capital allocation and portfolio optimization remain priorities.
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Substantial positive momentum in Q3 2025, with margin expansion in most segments and strong cash flow. Energy and material technologies saw capacity and operational gains, while banking and financial services delivered improved profitability.
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Solid Q2 results with 4% revenue growth, strong non-bank EBITDA margin expansion, and robust cash flow, despite challenging macro and geopolitical conditions. Strategic investments in renewables and capacity expansion continue, with a cautiously optimistic outlook for 2025.
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Leadership transition and strategic restructuring supported resilient performance, with a 4% year-over-year revenue increase and improved margins despite ongoing volatility. Strong banking and energy segments offset challenges in materials and mobility, while prudent financial discipline and a robust balance sheet underpin future growth.
Fiscal Year 2024
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2024 saw 6% revenue growth but a sharp EBITDA decline due to inflation and monetary losses, with non-bank segments showing operational improvement and strategic investments in energy, digital, and sustainability. The Mannok acquisition and U.S. solar projects are set to boost 2025 results.
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Q3 saw a break-even non-bank bottom line and improved EBITDA margin, despite year-over-year declines in EBITDA and net income. Strategic investments and strong cash flow support a positive outlook, with 2025 expected to be better if interest rates ease.
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Revenue grew 8% YoY but EBITDA fell 41%, with net income turning negative due to inflation, high interest rates, and margin contraction. Strategic acquisitions and sustainability progress continued, while energy segment EBITDA is guided above $500M for 2024.
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Q1 saw 6% real revenue growth but a 17% EBITDA decline, with inflation and energy price volatility impacting results. Strategic investments in renewables and digital drove segment growth, while CapEx and cash reserves increased. NAV rose 28% in USD terms.