Ekinciler Iron and Steel Inc. has published its financial results for the first six months of 2026 on the Public Disclosure Platform (KAP). The company’s revenue increased from TRY 9.21 billion in the same period last year to TRY 11.80 billion, while net profit for the period stood at TRY 323.4 million.
The company’s cost of sales rose to TRY 11.15 billion, while gross profit increased from TRY 501.2 million to TRY 644.4 million. However, as general administrative expenses increased from TRY 122.8 million to TRY 280.9 million, operating profit declined from TRY 332.4 million to TRY 267.4 million.
Income from investment activities increased from TRY 47.3 million to TRY 102.2 million, while finance income rose from TRY 137.2 million to TRY 213.7 million. Finance expenses, meanwhile, declined from TRY 280.4 million to TRY 235.7 million. As a result, profit before tax increased from TRY 236.4 million to TRY 347.6 million. After recording TRY 24.3 million in tax expenses for the period, net profit declined from TRY 329.6 million to TRY 323.4 million.
Total assets exceed TRY 26 billion
Ekinciler Iron and Steel’s total assets increased from TRY 21.14 billion to TRY 26.04 billion. Current assets rose from TRY 5.04 billion to TRY 8.06 billion, while cash and cash equivalents increased from TRY 391.8 million to TRY 2.31 billion.
Inventories increased from TRY 1.96 billion to TRY 3.83 billion, while trade receivables rose from TRY 548 million to TRY 628.7 million. In contrast, financial investments declined from TRY 1.69 billion to TRY 471.5 million.
Non-current assets increased from TRY 16.10 billion to TRY 17.98 billion, while property, plant and equipment rose from TRY 15.63 billion to TRY 17.69 billion.
Equity rises to TRY 17.03 billion
The company’s total liabilities increased from TRY 7.13 billion to TRY 9.01 billion. Current liabilities rose from TRY 4.90 billion to TRY 6.14 billion, while non-current liabilities increased from TRY 2.23 billion to TRY 2.87 billion.
Short-term borrowings increased from TRY 1.62 billion to TRY 2.42 billion, while long-term borrowings reached TRY 1.43 billion from TRY 823.9 million. Trade payables also increased from TRY 1.95 billion to TRY 2.22 billion.
Total equity rose from TRY 14.01 billion to TRY 17.03 billion. Paid-in capital increased from TRY 280 million to TRY 320 million, while share premium rose from zero to TRY 1.72 billion. During the period, the company carried out a share issuance worth TRY 1.76 billion.
Foreign currency translation differences also increased from TRY 7.87 billion to TRY 8.86 billion.
Operating cash outflow continues
According to the cash flow statement, the company recorded a net cash outflow of TRY 1.22 billion from operating activities, compared with a cash outflow of TRY 1.12 billion in the previous period.
Net cash inflow from investing activities amounted to TRY 410.1 million, compared with a cash outflow of TRY 63.2 million in the previous period. During the period, the company spent TRY 814.3 million on purchases of property, plant and equipment.
Financing activities generated a net cash inflow of TRY 2.70 billion. Within this figure, TRY 1.76 billion was raised through the share issuance and TRY 2.95 billion through new borrowings, while TRY 1.98 billion in loans was repaid and TRY 232.2 million was paid in interest.
Following these developments, Ekinciler Iron and Steel’s cash and cash equivalents at the end of the period increased from TRY 391.8 million to TRY 2.31 billion.
The company’s total comprehensive income, however, declined from TRY 2.27 billion in the previous period to TRY 1.26 billion. The decline was mainly driven by foreign currency translation differences, which fell from TRY 1.95 billion to TRY 990.9 million.
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