17 slides from Teknosa Ic Ve Dis Ticaret As's earnings presentation, Feb 25, 2026
Slide 1: FY2025 Earnings Presentation
FY2025 EARNINGS PRESENTATION 25 FEBRUARY 2026
Slide 2: Disclaimer
Disclaimer With the Capital Markets Board of Turkey’s Bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS 29 inflationary accounting provisions. Ac
Slide 3: Full-Year Highlights
141 Stores • Macroeconomic pressure remained high: High financing costs and the delayed normalization of the policy rate continued to weigh on consumer demand 676m 2 Average Net • Topline reflected market slowdown: The market experienced a year-on- Sales Area year decline, with intense competition c
Slide 4: The panel market declined by 2% y-o-y in 2025
The panel market declined by 2% y-o-y in 2025, following 8% growth in the previous year, while 4Q was supported by the campaign season despite a strong comparison base Market Revenue Growth1 Demand Growth by Categories - YTD1 (Real, Y-o-y%) (Real, Y-o-y%) -1% -1% -2% -3% 8% Panel -8% Market Informat
Slide 5: Revenues and gross profit margin development
While revenues were affected by weakened demand, store closures and intensified competition, disciplined pricing and a focus on high-margin categories supported the expansion of GP margin Revenues (Mn TL) Gross Profit Margin • Revenues continued to face pressure from tightened demand • In the fourth
Slide 6: Online Channel Growth as a Structural Opportunity
Online Channel Growth as a Structural Opportunity Marketplace Scale & Reach 1 Market dynamics While the overall market continues to contract, techonline demand remains resilient and continues to grow, creating a structural growth opportunity. 14 ~1400 256K categories Merchants SKU 2 Our positioning
Slide 7: Operational efficiency initiatives focused on cost mitigation
Forward-looking operational efficiency initiatives focused on cost mitigation are being rolled out, with their financial impact expected to materialize progressively Item Actions Opex Margin Personnel Workforce and other personnel cost optimization achieved in stores +62 bps +40 bps 10.5% 10.7% 11.1
Slide 8: Increased IT and digitalization investments, including AI-driven solutions
Significantly increased IT and digitalization investments, including AI-driven solutions enhancing efficiency, as well as labeling and in-store process improvements Technology Investments & Digital Transformation in 2025 ERP Transformation: The full SAP rollout represents a key milestone in strength
Slide 9: Credit card costs to revenues ratio reduced
Even though credit card commission rates remained untouched, the reduced credit card–to– revenue ratio was achieved by expanding the share of alternative payment methods Initiatives to Decrease Credit Card Commissions- Credit Card Costs To-Revenues Ratio • Collection mix and installment discipline c
Slide 10: Net Working Capital turned positive at year-end
Net Working Capital (NWC) turned positive at year-end which caused a higher borrowing, while average annual NWC days remained flat compared to last year Total Net Financial Expenses *- Net Working Capital to-Revenues Ratio (Mn TL) • Despite benefiting from below-market borrowing costs on Inventories
Slide 11: Net loss bridge from FY24 to FY25
While efficiency and cost initiatives supported the bottomline, the net loss resulted primarily from a decline in monetary gains due to lower inflation along with relatively lower demand -393 Mn TL Mn TL 1,364 325 221 397 -1,858 28** -2,251 FY24 EBITDA Difference Other Net Financial Monetary Tax Dif
Slide 12: Our Focus Areas for 2026
Revenue Growth & Cost Discipline Maintaining Online Expansion & Efficiency Alternative Payment Opportunity Gains Performance Our Focus Areas for 2026 AI-Powered Digital Cash Flow & Transformation Continued Focus on Working Capital Driving Profitability & Sustainable Optimization Operational Value Cr
Slide 13: Q&A
Q&A TEKNOSA Investor Relations e-mail: INVESTOR RELATIONS yatirimciiliskileri@teknosa.com Ümit Kocagil CFO Dilek Aktaş Head of Finance & IR Sibel Turhan IR Manager
Slide 14: Appendix
APPENDIX Teknosa | Genel (Halka Açık) | Public
Slide 15: Key Financials
Key Financials Revenues (Mn TL) EBITDA (Mn TL) Net Loss (Mn TL) -8% 90,886 83,519 +10% 4,208 -21% 3,811 -1,858 FY24 FY25 FY24 FY25 -2,251 FY24 FY25 +0.8 4.2% 5.0% ppts 15
Slide 16: Summary Income Statement
Summary Income Statement 4Q25 4Q24 Change (%) FY25 FY24 Change (%) Net Sales (Mn TL) 23,303 24,924 -6.5% 83,519 90,886 -8.1% Gross Profit (Mn TL) 3,006 3,683 -18% 11,241 11,667 -4% Gross Profit Margin (%) 12.9% 14.8% -1.9% 13.5% 12.8% 0.6% Opex/Sales (%) 10.5% 9.9% 0.6% 11.1% 10.7% 0.4% EBITDA (Mn T
Slide 17: Summary Balance Sheet
Summary Balance Sheet Dec 25 Dec 24 Assets (Mn TL) Current Assets 16,919 19,115 Cash and Cash Equivalents 2,474 3,346 Trade Receivables 1,689 1,581 Inventories 12,508 13,986 Other Current Assets 248 202 Non-current Assets 5,362 4,676 Property, Plant and Equipment 1,192 1,719 Intangible Assets 1,227