Arcelik A S Unsp/Adr (ACKAY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. I'm Konstantinos, your Chorus Call Operator. Welcome and thank you for joining the Archivik conference call and live webcast to present and discuss the Third Quarter 2025 financial results. At this time, I would like to turn the conference over to Mr. Baris Alparslan, Chief Financial Officer, Mr. Minesh Ule Yazgan, Finance and ERM Executive Director, Mr. Delal Alvar, Capital Market Compliance Senior Lead, and Mr. Sezer Erkan, Investor Relations Senior Lead. Mr. Alparslan, you may now proceed. Thank you very much. Good morning and good afternoon, ladies and gentlemen. Welcome to our Third Quarter 2025 Financial Exams webcast. This presentation contains the company's financial information prepared according to TFRS by application of IS-29 inflation accounting provisions. Let's start with the highlights of the first quarter. We generated 124.4 billion TL revenues with a gross margin of 29.1% in the third quarter, inflecting an 11.4% decline in serve year-on-year in real terms. Namely due to weak international demand, the performance in Europe, unfavorable product mix and pricing in the domestic market. In Turkey, modest demand was supported by the sales promotions and discounts and yet we observed a decline in yield terms. International demand remained weak except for a few countries. We delivered a substantial growth margin improvement both year on year and quarterly with the help of Eurodollar parity and easing raw material costs. Our open sales ratio is 26.8% in the third quarter. Lower sales ease the impact of the savings on operating expenses. We achieved a significant recovery on the BTA margin exceeding 2.5.0 on year and over one point quarterly. Improving gross margin and restructuring efforts were the main contri...