Pinar Su ve Icecek Sanayi ve Ticaret A.S.

Pinar Su ve Icecek Sanayi ve Ticaret A.S.

BBIST:PINSU
7.25
TRY
-0.08
(-1.09%)
0.02EPS
688.15P/E
3.12BMarket 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
0.77
0.93
1.02
1.02
1.25
0.95
0.91
0.9
1.03
3.9
6.13
9.01
9.45
12.6
Basic EPS, GAAP
-0.06
0.02
-0.06
-0.12
-0.12
-0.09
-0.13
-0.16
-0.2
0.25
1.03
0.16
0.02
0.02
Free Cash Flow per Basic Share
-0.14
-0.05
-0.09
-0.5
-0.14
-0.03
0.01
0.11
0.05
0.05
0.38
0.83
0.87
1.01
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.51
0.41
0.36
0.26
0.26
0.26
0.21
0.34
0.8
3.31
5.69
8.66
8.63
10.9
Tangible Book Value per Share
0.51
0.41
0.36
0.25
0.25
0.25
0.19
0.32
0.78
3.23
5.6
8.49
8.41
10.64
Basic Weighted Avg Shares
142
142
142
159
159
246
246
246
314
284
284
284
284
284
Sales/Revenue/Turnover
110
132
144
162
198
234
225
220
323
1,108
1,743
2,561
2,686
3,581
Operating Margin (%)
-9.51
-3.75
-5.16
-11.25
-1.11
0.95
3.75
-0.48
-2.21
-6.52
4.17
2.72
2.65
2.39
Depreciation Expense
6
7
7
11
14
14
21
27
31
135
194
263
284
265
Net Income, GAAP
-9
2
-9
-19
-20
-22
-33
-40
-64
70
292
45
4
5
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
27
- -
55.34
- -
- -
Profit Margin (%)
-7.86
1.63
-6.23
-11.99
-9.94
-9.43
-14.58
-18.13
-19.74
6.35
16.77
1.76
0.16
0.13
Working Capital
-7
4
-26
-20
-47
-85
-93
-172
-190
-430
-352
-325
-308
-303
LT Debt
12
18
28
66
68
57
88
56
51
41
46
65
237
241
Total Equity
73
59
51
64
64
64
52
84
227
940
1,619
2,463
2,452
3,100
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
-7.24
- -
1.07
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
16.17
- -
6.92
- -
- -
Return on Common Equity (%)
-11.44
3.27
-16.31
-33.89
-30.91
-34.37
-56.38
-58.82
-41.04
12.06
22.86
2.21
0.17
0.17

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
537
539
469
LT Borrowings
25
19
17
LT Finance Leases
212
235
224
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
284
284
284
Market Capitalization
3,175
3,266
3,119

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
654
715
833
Cash, Cash Equivalents & STI
68
58
80
Accounts Receivable, Net
221
278
382
Inventories
121
168
173
Total Current Liabilities
962
1,073
1,136
Payables & Accruals
- -
- -
- -
ST Debt
537
539
469
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
67.62%
121.75%
-0.43%
Free Cash Flow
248.58%
141.27%
4.96%
Net Income, GAAP
18.99%
-1.98%
-90.48%
Sales/Revenue/Turnover
44.54%
79.8%
4.87%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
404
557
835
536
2,561
2025
619
860
808
640
2,686
2026
612
1,521
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.16
0.15
0.36
-0.13
0.16
2025
-0.17
-0.01
0.24
-0.07
0.02
2026
0.04
-0.19
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

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

Company Description

CEO
Koral Kalpaklioglu
Sector
Consumer non-durables
Industry
Beverages: non-alcoholic
Address
Izmir Turkey
IPO Date
Aug 28, 1987
Business
Pinar Su ve Icecek Sanayi ve Ticaret A.S. is a Turkey-based beverage manufacturing and distribution company primarily engaged in the production, bottling, marketing, and sales of packaged natural spring water, natural mineral water, functional wellness drinks, and non-alcoholic fruit-flavored beverages. Founded in 1984 and headquartered in Izmir, Turkey, the company operates as a subsidiary of Yasar Holding A.S. and serves retail, commercial, food service, and direct-to-consumer markets domestically and internationally. The company operates across multiple non-alcoholic beverage categories, offering a comprehensive product portfolio that includes: packaged natural spring water extracted from pristine sources in Uludag (Bursa), Madran (Aydin), Toros (Adana), and Hendek (Sakarya), packaged in single-serve and multi-pack polyethylene terephthalate (PET) bottles ranging from 0.33 to 5.0 liters, premium glass bottles in 0.33 and 0.75-liter formats, 19-liter polycarbonate and disposable PET carboys, and bag-in-box containers; plain and flavored natural mineral waters under the Pinar Denge brand, enriched with essential minerals and offered in fruit flavors such as lemon, apple, and strawberry; functional waters fortified with vitamins and minerals, including formulations with Vitamin C, Vitamin D, zinc, and collagen tailored for immunity, focus, and wellness; carbonated fruit-flavored soft drinks under the Pinar Frii brand, featuring varieties such as tangerine, melon, lime, and red fruits; ready-to-drink iced teas and lemonades; plant-based beverages; and direct-to-consumer home and office water delivery services supported by a proprietary digital ordering mobile platform and an extensive authorized dealership network. Pinar Su ve Icecek manages four high-capacity bottling facilities located in Aydin-Bozdogan, Bursa-Inegol, Sakarya-Hendek, and Adana-Pozanti, supported by modern automated filling lines, accredited quality control laboratories, and nationwide logistics infrastructure. In addition to its domestic distribution across all regions of Turkey, the company exports its products to more than 30 countries across Europe, the Middle East, the Gulf region, North America, and Central Asia, adhering to international standards including ISO 9001, ISO 22000, FSSC 22000, and Halal quality certifications. In recent operational and strategic developments, Pinar Su ve Icecek has accelerated its diversification strategy to transition beyond traditional bottled water into high-growth health and wellness beverage segments. The company has introduced several new product lines, including vitamin-enriched functional hydration drinks, zero-sugar sparkling fruit beverages, and refreshed ready-to-drink tea offerings. To advance its environmental and sustainability goals, the company has completed significant capital investments in renewable energy, commissioning rooftop solar photovoltaic (PV) power systems across its key production facilities in Sakarya and Aydin to generate clean electricity on-site and lower its operating carbon footprint. Furthermore, Pinar Su ve Icecek has expanded its direct-to-consumer e-commerce logistics infrastructure and accelerated sustainable packaging initiatives, incorporating recycled PET (rPET) materials and implementing bottle lightweighting across its high-volume packaging lines.