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    Electronics/Appliances
Vestel Beyaz Esya Sanayi ve Ticaret A.S.

Vestel Beyaz Esya Sanayi ve Ticaret A.S.

BBIST:VESBE
3.26
TRY
-0.11
(-3.26%)
10.66BMarket Cap
Nov 04Next Earn
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
1.27
1.46
1.58
1.9
2.41
3.56
4.35
20.93
10.11
37.24
55.11
61.62
46.48
- -
Basic EPS, GAAP
0.03
0.08
0.1
0.2
0.18
0.39
0.36
2.96
0.95
0.13
4.26
0.22
-3.95
- -
Free Cash Flow per Basic Share
0.08
0.14
0.06
0.08
0.18
0.32
0.16
-0.06
0.5
-2.07
-0.13
3.09
2.34
1.18
Dividend per Share
- -
0.02
0.07
0.08
0.11
0.15
0.35
0.29
0.5
0.88
0.49
1.12
0.05
- -
Book Value per Share
0.34
0.41
0.45
0.57
0.63
1.13
1.13
2.1
3.06
8.47
19.48
27.69
22.92
25.81
Tangible Book Value per Share
0.3
0.37
0.39
0.51
0.56
1.04
1.02
1.97
2.89
7.82
18.24
25.71
20.67
23.04
Basic Weighted Avg Shares
1,600
1,600
1,600
1,600
1,600
1,600
1,600
450
1,600
1,600
1,600
1,600
1,600
1,602
Sales/Revenue/Turnover
2,029
2,337
2,524
3,037
3,858
5,694
6,968
9,409
16,178
59,583
88,172
98,597
74,360
- -
Operating Margin (%)
4.13
8.36
10.37
12.03
9.22
12.73
9.2
16.41
12.95
1.68
9.44
3.42
-1.98
- -
Depreciation Expense
74
84
85
91
112
166
257
300
385
1,985
2,823
3,991
3,842
3,789
Net Income, GAAP
53
131
164
325
295
623
568
1,331
1,519
212
6,821
348
-6,322
- -
Effective Tax Rate (%)
1.43
13.79
7.37
2.63
1.78
- -
- -
0.05
- -
54.56
14.11
- -
- -
- -
Profit Margin (%)
2.6
5.61
6.49
10.7
7.65
10.93
8.15
14.15
9.39
0.36
7.74
0.35
-8.5
- -
Working Capital
407
496
553
816
584
316
176
1,158
1,559
-2,018
1,854
-900
-7,572
-9,579
LT Debt
212
58
55
207
180
- -
57
208
399
127
1,942
1,604
4,995
7,131
Total Equity
541
663
714
920
1,012
1,812
1,806
3,362
4,893
13,554
31,171
44,300
36,675
41,292
Return on Invested Capital (%)
14.75
15.89
31.37
38.57
35.01
- -
- -
40.33
- -
-4.36
10.75
- -
- -
- -
Return on Capital (%)
9.02
18.09
23.38
35.74
28.38
- -
- -
38.52
- -
5.88
29.71
- -
- -
- -
Return on Common Equity (%)
10.21
21.8
23.81
39.78
30.56
44.1
31.4
51.52
36.79
2.3
30.5
0.92
-15.61
- -

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
15,415
17,354
19,916
LT Borrowings
4,594
6,811
6,749
LT Finance Leases
401
441
382
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,600
1,600
1,600
Market Capitalization
12,480
11,136
10,656

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
35,008
33,759
34,100
Cash, Cash Equivalents & STI
290
255
855
Accounts Receivable, Net
15,212
9,328
11,512
Inventories
8,426
9,309
9,001
Total Current Liabilities
42,580
40,933
43,680
Payables & Accruals
- -
- -
- -
ST Debt
15,415
17,354
19,916
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
58.11%
75.49%
-17.21%
Free Cash Flow
-617.11%
-1,251.74%
-24.32%
Net Income, GAAP
136.26%
207.4%
-1,916.82%
Sales/Revenue/Turnover
52.78%
75.09%
-24.58%
Total Cash Common Dividend
73.98%
117.05%
-95.59%

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
19,298
22,677
25,673
21,278
98,597
2025
20,796
25,175
- -
16,981
74,360
2026
9,943
13,158
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.53
- -
-0.35
-0.03
0.22
2025
-0.83
-1.48
- -
-1.87
-3.95
2026
-0.85
-0.51
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.05
1.12
2025
- -
- -
- -
- -
0.05
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Ergün Güler
Full Time Employees
6,698
Sector
Consumer durables
Industry
Electronics/Appliances
Address
BUeyUekdere Caddesi No: 199 Istanbul IB Turkey 34394
IPO Date
Apr 21, 2006
Website
vesbe.vestelinvestorrelations.com
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Business
Vestel Beyaz Esya Sanayi ve Ticaret A.S. (VESBE.IS) manufactures and sells a wide range of white goods and home appliances primarily for residential use; its core products include refrigerators (no-frost, double-door, and single-door models), freezers, washing machines and dryers in various capacities, cooking appliances such as ovens with multiple functions, dishwashers, air-conditioners, and water heaters. The company operates production facilities in Manisa, Turkey, and exports its products to key markets in Europe, the Middle East, and North Africa, positioning it as one of the top three white goods producers in Turkey and among the five largest in Europe. Founded in 1997 and headquartered in Istanbul, Turkey, Vestel Beyaz Esya functions as a subsidiary of Vestel Elektronik Sanayi ve Ticaret A.S., with marketing and sales handled through affiliated entities Vestel Dayanikli Tuketim Mallari Pazarlama A.S. and Vestel Dis Ticaret A.S.; it employs approximately 9,600 people and maintains a capacity utilization rate of 71% as reported for 2024. Recent developments include a net debt increase to TRY 15.0 billion by March 2025 from TRY 11.7 billion at year-end 2024 amid weakening domestic and export demand, elevated raw material and labor costs, and competitive pressures that led to a first-quarter 2025 net loss of TRY 1.0 billion, gross profit margin contraction to 7.9%, and EBITDA decline to 4.4%; the company advances sustainability initiatives such as solar panel installations planned for 2024-2025 on its tumble dryer factory roofs in Manisa, while its parent Vestel Group pursues a "Vestel 4.0" globalization strategy emphasizing production, R&D, innovation, and e-mobility expansion.