A company from Sivas is coming to Borsa Istanbul for the first time. Net Global Industrial Investments, which manufactures plastic pipes in Sivas and also produces 1,900 tons of soilless tomatoes annually and exports them to Europe, has allocated 20 to 30 percent of the 2 billion 233 million liras it will obtain from the offering by offering 28 percent to the public for wagon production. The company, which also produces renewable energy, will allocate 25-30 percent of its supply revenue for working capital and 15-25 percent for pipeline production. Berk Kuter, the CEO of the company, stated that only one company in Germany has 88 thousand wagons, whereas the total number of wagons in Türkiye is 18 thousand, and that they have an annual production target of 3 thousand wagons.
REVENUE AND PROFITABILITY DECREASED
In the public offering prospectus of the company, it is seen that it has 1 billion 488 million short-term debt and 205 million lira long-term debt. The company's revenue, which had a revenue of 3 billion 242 billion lira in 2023, decreased to 2 billion 155 million in 2025. In the first 6 months of this year, it grossed 1 billion 29 million lira. The company's main operating profit also decreased from 503 million lira to 504 million lira at the end of 2025. In the first 6 months of the year, it made an operating profit of 187 million lira. Net Global's net profit in the 6 months of the year was 19 million lira. Net profit was 482 million lira annually in 2023.
In the public offering, shares with a nominal value of 62 million 500 thousand TL will be offered to the public, with shares with a nominal value of 62 million 500 thousand TL via capital increase and shares with a nominal value of 25 million TL through joint sale. With the public offering, the company capital will be increased from 250 million TL to 312 million 500 thousand TL.
THE GROWTH ECOSYSTEM WILL DEVELOP
Net Global CEO Berk Kuter evaluated the public offering as not only a step that provides financing but also a strategic move that will strengthen the company's growth ecosystem and said:
"Our journey, which started with the production of high-density plastic pipes in Sivas in 2004, has today turned into a structure that operates in different industrial fields and creates value in the global economy with its innovative solutions and strong brands. In this process that we started with pipe production, we have created a wide ecosystem ranging from clean water infrastructures to soilless agriculture, from green energy to sustainable technologies. While contributing to the infrastructure of healthy cities, we are working for a future where resources are used more efficiently and sustainable production models become widespread. We are using our public offering not only as a means of creating financial resources, but also to reflect Net Global's growth vision." "We see it as a strategic step that will take us further. We aim to further strengthen our corporate structure with the resources obtained from the public offering and accelerate our new investments, especially our wagon production investment, which is one of our strategic investment areas. At the same time, we aim to further carry Net Global's growth potential on a global scale with new collaborations and investment opportunities by achieving a stronger and more transparent structure in the capital markets."
FINANCIAL STRUCTURE WILL BE STRENGTHENED
Providing information about the areas of use of the resources to be obtained from the public offering, Kuter said, "We plan to utilize the fund we will obtain in a way that will strengthen the financial structure of our company while ensuring its growth. We will use 15-25 percent of the income for capacity increase in our current investments and the establishment of a corrugated pipe production line. Another 20-30 percent will be allocated to the completion of the construction of our wagon production factory in Sivas Demirağ OIZ and the financing of machinery and equipment investments. Again, 25-35 percent will be used for operating operations." "In meeting our capital needs, we will use the remaining 20-30 percent to reduce short-term bank loans in order to make our financial structure more balanced and strong. Our main goal is to create a permanent, sustainable and high value-added growth model by combining technology, innovation and our strong human resources."
RAILWAY STRATEGIC SECTOR
Berk Kuter noted that they have recently taken initiatives towards wagon production and that their investments continue in this context, and continued his words as follows:
"On the basis of our focus on this field; the positioning of railway transportation as a strategic sector in Turkey and the expected growth in the sector played an important role. As a matter of fact, within the scope of the Twelfth Development Plan prepared by the Presidency of the Republic of Turkey, Strategy and Budget Directorate and covering the period 2024-2028, railway transportation was determined as one of the priority areas for the country. In addition, with the 'Central Corridor' project, which is planned to extend from China to Europe, starting from Iraq's FAV Port and reaching Anatolia. Railway and intermodal transportation activities are expected to increase with the implementation of international logistics corridors such as the 'Development Road Project'. Additionally, a modern 'Hejaz Railway' project is planned to be built. Within the scope of the project, the first step of which was taken with the memorandum of understanding signed between the Ministries of Transport of Turkey, Syria and Jordan, it is planned to first extend the existing railway network in Türkiye to Aleppo city of Syria and complete the missing 30-kilometer line superstructure on the Syrian side.
With all these developments, Sivas has been a part of Türkiye Rail System Vehicles Industry Inc. since the first years of the Republic. Having a developed ecosystem in the field of railway vehicle production through (TÜRASAŞ) and private sector organizations is among the factors that support this investment decision. Therefore, we see wagon manufacturing as a strategic investment area in order to carry our existing industrial and production competencies to a new and growing market. In this context, we aim to produce various types of freight wagons and sub-components with the 'NETRAİL' brand, in a 50,000 m2 closed area on a 200,000 m2 land, in European Union standards and TSI certified, with 100% domestic design and a very high localization rate. Within the scope of our investment in Sivas Demirağ Organized Industrial Zone, our work on the production of container transport wagons, cistern wagons and bogies continues. The facility we will establish; It will be a high-tech, integrated production center with welding and production robots, robotic sandblasting and painting facilities, quality control laboratory and CNC machines.
Kuter stated that pipe activities have the largest share in the total turnover of the Company, which achieved a turnover of approximately 1.03 billion TL in the first six months of 2026 and 2.3 billion TL in the last twelve months. Emphasizing that the turnover mainly consists of domestic sales, but the share of foreign sales has increased significantly in the recent period, Kuter conveyed his goals for the next period as follows:
“While the share of domestic sales in gross revenues was 98.4 percent and 96.4 percent in 2023 and 2024, respectively, this rate decreased to 83.1 percent in 2025. On the other hand, the share of foreign sales in total revenue increased to 17.07 percent in 2025. The restructuring we carried out in our export activities was effective in this increase. Within the scope of increasing export-oriented activities, we obtained new WRAS and TÜV AUSTRIA certificates. “We aim to further increase the share of exports in our total revenue by reaching new markets, especially in PE100 pipes and fittings, in the coming period.”
EQUITY IS 3.5 TIMES THE NET DEBT LEVEL
Providing information about the financial performance of the company, Berk Kuter said, “To date, we have made our investments mainly with our equity capital. In this context, our total equity is 3.6 billion TL as of the end of June 2026, approximately 3.5 times our net debt level. As of this date, 68% of our total assets are financed with equity. This shows that our company has a strong capital structure. On the profitability side, looking at the last twelve months' data as of June 2026, our Company produced approximately 592 million TL Gross Profit and 579 million TL Profit before Interest, Taxes and Depreciation. Our EBITDA profitability was at 25.3%. "In the coming period, we aim to further strengthen our profitability and financial structure through cost and raw material management, operational efficiency and increasing the share of high value-added products through the use of economies of scale," he said.
