According to data shared on KAP, Kardemir posted a net loss of TL 1.679 billion for the period from January 1 to December 31, 2025. This figure represents a significant annual decrease compared to the TL 3.967 billion loss recorded in 2024. In the fourth quarter, the company reported a net loss of TL 682.8 million.
Sales revenues fell 10% year-on-year. However, operating profit turned positive, reaching TL 1.22 billion, and EBITDA increased to TL 6.83 billion from TL 5.48 billion in the previous year.
On the balance sheet side, total assets increased to TL 127.04 billion, while equity rose to TL 84.65 billion. Total debt saw a limited increase, amounting to TL 42.39 billion. The company’s market capitalization stood at TL 36.60 billion, with a price-to-book ratio of 0.43.
According to a survey by Matriks Haber, the average profit expectation of seven brokerage firms for Kardemir in Q4 2025 was TL 211.7 million, with a median forecast of TL 218 million. The announced net loss of TL 682.8 million decreased short of market expectations and did not meet analyst forecasts.
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