Birlesim Muhendislik Isitma Sogutma Havalandirma Sanayi ve Ticaret A.S.

Birlesim Muhendislik Isitma Sogutma Havalandirma Sanayi ve Ticaret A.S.

BBIST:BRLSM
7.94
TRY
-0.41
(-4.91%)
-2.25EPS
4.20BMarket Cap
Birlesim Muhendislik Isitma Sogutma Havalandirma Sanayi ve Ticaret A.S.
BIST:BRLSM
(Istanbul Exchange)

Recent

price

7.94

P/E

ratio

- -

div

yld

- -

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
2025
TTM
TRY
1.6
2.26
2.58
2.77
11.78
25.58
23.48
20.87
27.22
Revenue per Share
-0.04
0.16
0.27
0.14
-0.77
-1.29
2.6
-0.9
-2.15
Basic EPS, GAAP
0.39
0.23
-0.14
-0.27
2.49
-0.73
-3.08
-0.6
-0.54
Free Cash Flow per Basic Share
0.01
- -
- -
- -
0.04
0.23
- -
- -
- -
Dividend per Share
0.24
0.4
0.67
1.53
4.02
4.3
8.26
7.41
7.01
Book Value per Share
0.23
0.39
0.66
1.53
3.82
4.05
7.96
7.15
6.73
Tangible Book Value per Share
224
224
224
224
224
224
224
224
224
Basic Weighted Avg Shares
358
506
578
620
2,639
5,729
5,259
4,675
6,097
Sales/Revenue/Turnover
2.24
9.89
12.92
6.45
4.87
6.59
19.93
8.58
4.83
Operating Margin (%)
3
8
8
5
15
34
48
49
52
Depreciation Expense
-8
36
60
32
-173
-289
583
-201
-481
Net Income, GAAP
- -
26.61
21.74
43.2
- -
- -
17.2
- -
- -
Effective Tax Rate (%)
-2.37
7.11
10.33
5.11
-6.57
-5.04
11.09
-4.29
-7.89
Profit Margin (%)
-6
51
141
289
682
475
1,319
892
860
Working Capital
10
19
1
1
- -
8
102
77
25
LT Debt
56
92
150
342
903
942
1,813
1,598
1,570
Total Equity
- -
28.3
26.07
5.27
- -
- -
50.63
- -
- -
Return on Invested Capital (%)
- -
32.86
30.91
13.02
- -
- -
38.61
- -
- -
Return on Capital (%)
- -
50.28
49.93
12.89
-27.9
-30.99
41.46
-11.44
-30.07
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,156
998
1,152
LT Borrowings
77
68
25
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
224
224
224
Market Capitalization
2,950
3,358
4,202

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,454
5,480
6,503
Cash, Cash Equivalents & STI
307
513
372
Accounts Receivable, Net
2,437
3,117
4,050
Inventories
418
481
626
Total Current Liabilities
3,562
4,588
5,643
Payables & Accruals
- -
- -
- -
ST Debt
1,156
998
1,152
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
75.46%
-11.86%
Free Cash Flow
- -
-164.49%
-80.35%
Net Income, GAAP
- -
-212.73%
-134.43%
Sales/Revenue/Turnover
- -
86.11%
-11.09%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,208
1,298
1,109
1,106
5,259
2025
916
1,118
1,181
1,786
4,675
2026
1,439
1,691
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.07
0.44
0.1
1.5
2.6
2025
0.11
-0.23
-0.01
-0.8
-0.9
2026
-0.38
-0.96
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Birlesim Muhendislik Isitma Sogutma Havalandirma Sanayi ve Ticaret A.S. provides mechanical, electrical, and renewable energy engineering, procurement, and construction (EPC) contracting services for commercial, industrial, residential, and public infrastructure projects. The company operates through four primary business segments: Mechanical Contracting, Electrical Contracting, Renewable Energy EPC, and Operation and Maintenance Services. Its mechanical contracting portfolio comprises heating, ventilation, and air conditioning (HVAC) systems; process piping and industrial piping installations; building management and building automation systems; plumbing and sanitary drainage systems; fire protection, suppression, and smoke evacuation systems; and geothermal, heat pump, and energy recovery systems. Through its electrical contracting subsidiary, Erde Muhendislik A.S., the company provides high-voltage, medium-voltage, and low-voltage electrical installations; transformer substations and power distribution switchgears; emergency power generation and uninterruptible power supply (UPS) systems; indoor, outdoor, and architectural lighting systems; fire detection and voice alarm systems; closed-circuit television (CCTV), perimeter security, and electronic access control systems; and structured data cabling and telecommunications infrastructures. In the renewable energy sector, the company delivers turnkey engineering, procurement, installation, and commissioning services for rooftop and ground-mounted solar photovoltaic (PV) power plants, as well as hybrid energy systems and battery energy storage solutions. Additionally, the company offers post-installation testing, commissioning, periodic technical maintenance, facility management, and energy efficiency modernization services. Birlesim Muhendislik serves a diverse client base across healthcare facilities, international airports, data centers, shopping centers, hotels, industrial manufacturing plants, and educational campuses throughout Turkey, Europe, Central Asia, and the Middle East. Founded in 2002, the company is headquartered in Istanbul, Turkey. In recent developments, the company has substantially expanded its renewable energy operations through its subsidiary Birlesim Yesil Enerji and dedicated solar EPC divisions, securing multiple high-capacity industrial rooftop and land-based solar photovoltaic power plant contracts. The company has also expanded its operational backlog by winning major multi-discipline mechanical and electrical contracting contracts for large-scale integrated healthcare complexes, semiconductor and automotive industrial facilities, and transport infrastructure projects, while actively scaling self-consumption solar plant investments and forming strategic alliances to deliver integrated decarbonization and energy-efficiency solutions.