Gedik Yatirim Menkul Degerler A.s. · BIST:GEDIK
Gedik Yatirim Menkul Degerler A.s — Q3 2025 Earnings Presentation
8 slides from Gedik Yatirim Menkul Degerler A.s's earnings presentation, Oct 20, 2025
Slide 1: Gedik Investment 3Q25 Earnings Preview
Gedik Investment 3Q25 Earnings Preview October 20, 2025
Slide 2: 3Q25 Earnings Preview
3Q25 Earnings Preview ➢ Industrials – Some names are signalling a bottoming out. Weaker names: We expect Kordsa to post net loss due to soft demand conditions and the gradual ramp-up of production facilities in Indonesia and Thailand after the flood. Petkim should also report negative operating prof
Slide 3: 3Q 2025 Gedik Investment Estimates: Banks and Non-TAS 29
3Q25 Earnings Preview 3Q 2025 Gedik Investment Estimates (TL mn) 2025/3Q BANKS Net Income QoQ ∆ YoY ∆ Expected Release Date Akbank AKBNK 13.554 22% 50,1% 23.10.2025 Albaraka Türk ALBRK 740 -41% -6,8% - Garanti Bankası GARAN 27.999 -1% 26,7% 30.10.2025 T. Halk Bankası HALKB 7.572 52% 155,8% - İş Bank
Slide 4: 3Q 2025 Estimates: Glass, Automotive, Consumer Durables, REITs
3Q25 Earnings Preview Financials reported according to TAS 29 Sector 3Q 2025 Gedik Investment Estimates (TL mn) Expected Release Date Revenues QoQ real ∆ YoY real ∆ EBITDA QoQ real ∆ YoY real ∆ Net Income QoQ real ∆ YoY real ∆ GLASS Sisecam SISE 53.610 -5,2% -6,2% 7.103 25,1% 55,8% 1.905 -33,2% 56,2
Slide 5: 3Q 2025 Estimates: Steel, Utilities, Telecom, Mining
3Q25 Earnings Preview Financials reported according to TAS 29 Sector 3Q 2025 Gedik Investment Estimates (TL mn) Expected Revenues QoQ real ∆ YoY real ∆ EBITDA QoQ real ∆ YoY real ∆ Net Income QoQ real ∆ YoY real ∆ Release Date STEEL & IRON Kardemir KARDM 15.656 -0,4% -19,3% 1.696 36,7% 66,3% 333 -76
Slide 6: 3Q 2025 Estimates: Food Retail, Food and Beverage, Healthcare
3Q25 Earnings Preview Financials reported according to TAS 29 Sector 3Q 2025 Gedik Investment Estimates (TL mn) Expected Revenues QoQ real ∆ YoY real ∆ EBITDA QoQ real ∆ YoY real ∆ Net Income QoQ real ∆ YoY real ∆ Release Date FOOD RETAIL Bim Mağazaları BIMAS 180.121 9,3% 7,3% 11.524 13,8% 59,1% 4.6
Slide 7: Aggregate 3Q25 Estimates: Banks, Non-TAS 29, Non-Financials
3Q25 Earnings Preview Banks 2025/3Q 2025/2Q 2024/3Q QoQ ∆ YoY ∆ Net Income 91.717 87.799 56.069 4% 64% Non-TAS 29 - Reported in hard currency 2025/3Q 2025/2Q 2024/3Q QoQ ∆ YoY ∆ Revenues 460.352 372.810 363.796 23% 27% EBITDA 122.429 76.784 93.202 59% 31% EBITDA Margin 26,59% 20,60% 25,6% 600 bps 98
Slide 8: Gedik Investment Research Team
Gedik Investment Research Team Ali Kerim Akkoyunlu Research Director Food & Beverage, Catering, Clothing Retail, Defence, Food Retail, Furniture ali.akkoyunlu@gedik.com Serkan Gönençler Chief Economist Macro Economy, Strategy serkan.gonencler@gedik.com Umut Öztürk Manager Auto Parts, Chemicals, Cont
Gedik Yatirim Menkul Degerler A.S. — Q3 2025 Earnings Presentation on 6ix