Ihlas Holding A.S.

Ihlas Holding A.S.

BBIST:IHLAS
0.75
TRY
-0.03
(-3.85%)
-1.52EPS
3.63BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.88
0.74
0.36
0.95
0.62
1.11
0.63
1.08
1.59
3.32
5.56
6.89
8.73
10.54
Basic EPS, GAAP
-0.2
-0.08
-0.07
0.06
0.04
-0.03
-0.01
- -
0.12
-0.45
1.13
-0.92
-1.64
-1.77
Free Cash Flow per Basic Share
0.15
-0.1
0.07
0.03
-0.01
-0.04
- -
-0.12
-0.39
-0.25
-0.6
-0.32
-0.29
-0.37
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.5
0.44
0.39
0.44
0.48
0.45
0.4
0.47
0.87
1.47
3.32
3.39
1.59
1.29
Tangible Book Value per Share
0.46
0.42
0.37
0.42
0.46
0.44
0.38
0.45
0.85
1.41
3.24
3.29
1.46
1.19
Basic Weighted Avg Shares
1,144
1,144
1,144
1,144
1,144
1,144
1,144
1,036
1,776
1,966
1,966
1,966
1,966
1,853
Sales/Revenue/Turnover
1,008
842
409
1,082
712
1,274
716
1,114
2,823
6,535
10,925
13,540
17,160
19,527
Operating Margin (%)
-6.82
-9.24
-13.69
11.33
9.14
7.18
7.5
9.73
3.52
-23.21
-19.9
-18.32
-25.18
-25.55
Depreciation Expense
15
17
17
12
12
11
16
21
28
154
352
367
365
344
Net Income, GAAP
-230
-88
-84
63
43
-39
-16
-4
209
-887
2,231
-1,809
-3,232
-3,275
Effective Tax Rate (%)
- -
- -
- -
29.04
- -
- -
85.77
- -
4.76
- -
77.52
- -
- -
- -
Profit Margin (%)
-22.8
-10.49
-20.4
5.83
6
-3.03
-2.17
-0.36
7.4
-13.58
20.42
-13.36
-18.83
-16.77
Working Capital
641
1,029
846
587
597
629
1,063
2,076
2,524
7,859
12,565
14,197
10,239
13,639
LT Debt
140
95
127
91
203
250
210
322
160
194
272
530
520
1,180
Total Equity
821
791
741
788
828
814
1,242
1,895
3,570
9,225
13,563
15,377
12,442
14,784
Return on Invested Capital (%)
- -
- -
- -
19.85
- -
- -
1.8
- -
4.33
- -
-2.28
- -
- -
- -
Return on Capital (%)
- -
- -
- -
13.3
- -
- -
-1.59
- -
1.91
- -
37.61
- -
- -
- -
Return on Common Equity (%)
-33.67
-16.47
-17.52
13.27
8.12
-7.22
-3.19
-0.8
20.04
-42.53
52.07
-30.11
-72.49
-78.03

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,175
2,495
2,259
LT Borrowings
142
495
779
LT Finance Leases
378
424
401
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,789
1,789
3,000
Market Capitalization
3,085
2,607
3,630

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
16,381
17,737
19,996
Cash, Cash Equivalents & STI
1,010
891
1,301
Accounts Receivable, Net
3,143
3,383
4,380
Inventories
10,146
11,155
11,603
Total Current Liabilities
6,142
6,646
6,357
Payables & Accruals
- -
- -
- -
ST Debt
2,175
2,495
2,259
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
40.3%
57.62%
-19.09%
Free Cash Flow
336.87%
104.09%
-8.29%
Net Income, GAAP
-687.27%
-1,268.1%
78.67%
Sales/Revenue/Turnover
62.35%
80.56%
26.73%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,341
2,527
3,057
3,157
13,540
2025
3,548
3,617
3,089
8,038
17,160
2026
4,083
4,317
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.4
-0.16
0.06
-0.28
-0.92
2025
-0.14
-0.43
-0.36
-0.81
-1.64
2026
-0.02
-0.62
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Ahmet Mücahid Ören
Full Time Employees
3,077
Sector
Finance
Industry
Real estate development
Address
Istanbul Turkey
IPO Date
Mar 16, 1994
Business
Ihlas Holding A.S. is a diversified Turkish conglomerate operating across media and publishing, durable consumer goods manufacturing and marketing, construction and real estate development, healthcare, education, and energy sectors. Founded in 1970 and headquartered in Istanbul, Turkey, the group manages a multi-sector portfolio serving domestic markets and exporting manufactured goods to more than 60 countries across Europe, Asia, the Middle East, and the Americas. The company operates through four core business divisions: Manufacturing and Trade, Media and Publishing, Construction and Real Estate, and Services and Energy. Within its Manufacturing and Trade division, managed primarily through subsidiaries Ihlas Ev Aletleri and Ihlas Pazarlama, the company designs, manufactures, and distributes home appliances and consumer goods under the Aura brand; core product offerings include Aura Cleanmax and Aura Roboclean water-filtration cleaning systems; Aura Cebilon reverse-osmosis drinking water purifiers; electric instantaneous and storage water heaters; quartz and infrared room heaters; and bicycles and home electronics distributed through direct sales networks, retail channels, and technical service centers. In the Media and Publishing segment, operated through Ihlas Yayin Holding, Ihlas Gazetecilik, and Ihlas Haber Ajansi (IHA), the company provides multimedia news and entertainment services; its portfolio comprises the national daily Turkiye newspaper; television broadcasting via TGRT Haber and TGRT Belgesel; nationwide radio broadcasting under TGRT FM; international news agency reporting and video feeds; digital publishing; and commercial advertising agency operations. In Construction and Real Estate, the company engages in the contracting, development, and sale of large-scale residential communities under the Bizim Evler, Kristal Sehir, and Marmara Evleri project brands; commercial complexes and educational campuses; and thermal health resorts, including the Armutlu and Kuzuluk holiday thermal village facilities. In Healthcare and Education, the company operates Turkiye Hospital, providing multidisciplinary inpatient and outpatient medical care, and Ihlas Educational Institutions, providing private K-12 education. In recent major company developments, Ihlas Holding completed a 100 percent cash rights issue in September 2026, doubling its issued share capital from TRY 1.50 billion to TRY 3.00 billion to strengthen its balance sheet and fund strategic business expansions. The group has also expanded its energy footprint through its subsidiary Orta Asya Yatirim Holding, pursuing operational restructuring, equity allocations, and regional energy initiatives, including the Kazarman Hydroelectric Power Plant (HEPP) project in Central Asia. Concurrently, Ihlas Holding has accelerated corporate ESG alignment across its subsidiaries, implementing formal greenhouse gas emissions reporting, independent sustainability auditing, and ongoing digital transformation across its direct marketing and media networks.