While Anadolu Group exceeded expectations in the 3rd quarter, it fell behind last year

MEHMET ÖZDEMİR

AG Anadolu Grubu Holding A.Ş. announced its financial results for the third quarter of 2026. The group's revenue increased by 2 percent on an annual basis in the relevant period, reaching 246.8 billion TL.

The revenues of the retail segment, which constitutes 58 percent of the group revenue in the third quarter, increased by 3.3 percent on an annual basis to 143.3 billion TL.

The soft drinks segment's revenues increased by 1 percent on an annual basis, reaching 68.4 billion TL. Coca-Cola İçecek's consolidated sales volume increased by 8.3 percent on an annual basis in the third quarter, reaching 516 million unit cases, led by the strong momentum in international operations.

The revenues of the alcoholic beverage segment decreased by 5.6 percent on an annual basis, reaching 19.3 billion TL, due to the weakness in Türkiye operations.

Revenues of the automotive segment increased by 4 percent compared to 17.4 billion TL recorded in the third quarter of last year.

The revenue of the agriculture, energy and industry segment decreased by 4.6 percent. The share of international sales in holding revenues increased to 22 percent in the first nine months of 2026, from 19 percent in the same period last year.

The holding's consolidated EBITDA decreased by 13 percent on an annual basis in the third quarter, reaching 28.5 billion TL. Volume weakness in the alcoholic beverage segment, rise in energy prices and general cost increases put pressure on profitability.

In the retail segment, Migros' EBITDA was under pressure due to increased promotional activities due to the contraction in purchasing power and the transition of warehouse employees to the Migros payroll. The holding's EBITDA margin decreased by 210 basis points from 13.7 percent in the third quarter of 2025 to 11.6 percent.

Anadolu Group's net profit for the third quarter was 2.4 billion TL and exceeded the market expectation of 2.2 billion TL. The group's net profit decreased by 46 percent on an annual basis due to the contraction in margins. The holding's total net profit in the first nine months of 2026 decreased by 2 percent on an annual basis and reached 5.8 billion TL.

The holding's net debt decreased to 85.6 billion TL from 102.9 billion TL in the previous quarter. Net debt/EBITDA ratio stood at 1x.

In his evaluation of the nine months of the year, Anadolu Group Chief Executive Burak Basarir said, "Despite the difficult macroeconomic environment, we achieved solid financial and operational results in the nine months of the year."

Basarir made the following evaluations: "While the ongoing geopolitical tensions in our region significantly changed the macroeconomic conditions compared to our predictions at the beginning of the year, the apparent weakness in consumption dynamics in Turkey became the most important factors shaping our operating environment in the nine months of 2026. We maintained our growth momentum by increasing our revenues by 3.4 percent in the nine months of the year. During this period, we achieved EBITDA of 70.6 billion TL, with a slight increase compared to the same period of the previous year."