IST:SARAE Income Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	8,643	7,045	14,322	12,991
Revenue Growth	-	-50.81%	10.25%	-
Cost of Revenue	6,254	5,058	10,882	9,914
Gross Profit	2,389	1,987	3,441	3,077
Selling, General & Admin	682.12	549.15	706.73	869.72
Research & Development	45.22	30.28	13.74	5.74
Other Operating Expenses	348.11	-14.65	149.1	438.74
Operating Expenses	1,075	564.78	869.57	1,314
Operating Income	1,313	1,423	2,571	1,762
Interest Expense	-549.23	-618.8	-576.48	-506.65
Interest & Investment Income	1,071	740.82	86.99	58.01
Currency Exchange Gain (Loss)	-1,052	-1,227	-230.08	-2,251
Other Non Operating Income (Expenses)	283.93	434.59	119.78	2,819
EBT Excluding Unusual Items	1,068	751.85	1,971	1,882
Gain (Loss) on Sale of Investments	0.32	-1.95	-6.83	-2.13
Legal Settlements	-3.54	-4.96	-	-38.58
Pretax Income	1,080	760.62	1,969	1,858
Income Tax Expense	373.15	397.51	160.14	-54.61
Net Income	706.97	363.11	1,809	1,912
Net Income to Common	706.97	363.11	1,809	1,912
Net Income Growth	-	-79.92%	-5.42%	-
Shares Outstanding (Basic)	400	400	100	50
Shares Outstanding (Diluted)	400	400	100	50
Shares Change	-	300.00%	100.00%	-
EPS (Basic)	1.77	0.91	18.09	38.25
EPS (Diluted)	1.77	0.91	18.09	38.25
EPS Growth	-	-94.98%	-52.71%	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Free Cash Flow	-1,167	-1,308	1,620	1,595
Free Cash Flow Per Share	-2.92	-3.27	16.20	31.91
Gross Margin	27.64%	28.21%	24.02%	23.68%
Operating Margin	15.20%	20.19%	17.95%	13.57%
Profit Margin	8.18%	5.15%	12.63%	14.72%
Free Cash Flow Margin	-13.51%	-18.57%	11.31%	12.28%
EBITDA	1,749	1,887	2,754	1,955
EBITDA Margin	20.23%	26.78%	19.23%	15.05%
D&A For EBITDA	435.34	464.25	183.25	192.4
EBIT	1,313	1,423	2,571	1,762
EBIT Margin	15.20%	20.19%	17.95%	13.57%
Effective Tax Rate	34.55%	52.26%	8.13%	-
Advertising Expenses	-	2.61	3.32	4.26