IST:VESBE 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	74,360	98,597	88,172	59,583	16,178
Revenue Growth (YoY)	-24.58%	11.82%	47.98%	268.30%	71.94%
Cost of Revenue	69,067	88,247	73,770	53,782	13,613
Gross Profit	5,293	10,351	14,402	5,801	2,565
Selling, General & Admin	5,217	5,530	5,020	4,270	319.21
Research & Development	1,219	1,242	805.48	540.28	114.2
Other Operating Expenses	326.34	211.24	271.7	24.91	39.7
Operating Expenses	6,763	6,983	6,097	4,836	473.11
Operating Income	-1,469	3,368	8,305	965.41	2,092
Interest Expense	-7,547	-5,703	-2,713	-1,325	-336.94
Interest & Investment Income	2,858	1,002	717.45	426.96	73.38
Currency Exchange Gain (Loss)	-1,879	-1,836	-3,516	-1,541	10.83
Other Non Operating Income (Expenses)	2,754	3,343	5,131	1,930	-626.35
EBT Excluding Unusual Items	-5,282	173.54	7,923	456.08	1,213
Merger & Restructuring Charges	-609.14	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	18.34	10.04	4.34
Pretax Income	-5,891	173.54	7,942	466.12	1,217
Income Tax Expense	430.16	-174.41	1,121	254.33	-301.74
Net Income	-6,322	347.95	6,821	211.79	1,519
Net Income to Common	-6,322	347.95	6,821	211.79	1,519
Net Income Growth	-	-94.90%	3120.72%	-86.05%	14.07%
Shares Outstanding (Basic)	1,600	1,600	1,600	1,600	1,600
Shares Outstanding (Diluted)	1,600	1,600	1,600	1,600	1,600
EPS (Basic)	-3.95	0.22	4.26	0.13	0.95
EPS (Diluted)	-3.95	0.22	4.26	0.13	0.95
EPS Growth	-	-94.90%	3120.74%	-86.05%	14.07%
Free Cash Flow	4,678	6,266	455.64	-2,139	926.59
Free Cash Flow Per Share	2.92	3.92	0.28	-1.34	0.58
Dividend Per Share	-	0.044	0.726	0.221	0.436
Dividend Growth	-	-93.95%	229.19%	-49.47%	161.79%
Gross Margin	7.12%	10.50%	16.33%	9.74%	15.85%
Operating Margin	-1.98%	3.42%	9.42%	1.62%	12.93%
Profit Margin	-8.50%	0.35%	7.74%	0.36%	9.39%
Free Cash Flow Margin	6.29%	6.35%	0.52%	-3.59%	5.73%
EBITDA	1,762	6,625	10,809	2,589	2,399
EBITDA Margin	2.37%	6.72%	12.26%	4.35%	14.83%
D&A For EBITDA	3,231	3,257	2,504	1,624	307.22
EBIT	-1,469	3,368	8,305	965.41	2,092
EBIT Margin	-1.98%	3.42%	9.42%	1.62%	12.93%
Effective Tax Rate	-	-	14.11%	54.56%	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.