6.5 billion TL net loss from Vestel in the third quarter
While sales revenues decreased by 3.3%, gross profit increased by 52.8% and EBITDA turned positive
Quick Look
- Vestel Elektronik achieved sales revenue of 24.9 billion TL in the third quarter of 2026.
- Gross profit increased by 52.8%, reaching 5.4 billion TL, and EBITDA turned positive with 908 million TL.
- Net loss amounted to 6.5 billion TL.
AI-generated summary
Why It Matters
Vestel Elektronik announced its financial results for the third quarter of 2026 on KAP. The company announced a net loss of 6.7 billion TL in the second quarter.
Vestel Elektronik Sanayi ve Ticaret A.Ş. announced its financial results for the third quarter of 2026 on the Public Disclosure Platform (KAP).
The company's sales revenues decreased by 3.3 percent compared to the previous quarter in the July-September period, reaching 24.9 billion TL. Despite the limited decline in sales revenues, a significant improvement was recorded in gross profitability indicators.
The company, which announced a loss of 6.7 billion TL in the second quarter, also announced a net loss of 6.5 billion TL in the third quarter. In the third quarter of last year, a net loss of 6.1 billion TL was announced.
Gross profit, which was 3.6 billion TL in the second quarter, increased by 52.8 percent to 5.4 billion TL in the third quarter.
The company's gross profit margin was 21.8 percent in the third quarter. Thus, gross profit margin increased by 8 points compared to the previous quarter and 3.7 points compared to the same period last year.
EBITDA turned positive after three quarters
Vestel Elektronik's EBITDA, which was minus 1.4 billion TL in the second quarter, increased to 908 million TL in the third quarter.
Thus, the company's EBITDA reached a positive level again after being negative for three quarters. EBITDA margin was recorded as 3.6 percent in the third quarter.
The company's net loss in the first nine months of the year decreased by 29 percent compared to the same period last year.
"We will focus on efficiency and profitable growth"
Vestel CEO Gökhan Sığın made the following statements in his evaluation of the third quarter financial results:
"After Vestel Beyaz Eşya, our third quarter results at Vestel Elektronik are important as they show the concrete effects of our transformation program that focuses on value and profitability rather than volume. While our sales revenues are at a level close to the previous quarter, the 8-point improvement in our gross profit margin and EBITDA turning positive again prove that the steps we have taken are in the right direction. We will continue our efforts focused on cost discipline, efficiency and profitable growth with determination."
In the financial results of Vestel Beyaz Eşya announced last week, it was reported that its third quarter EBITDA increased to a positive level again with 1.6 billion TL.
Open Questions
- What are the main reasons for the increase in net loss?
- Has a clear time frame been given for when EBITDA will remain positive?
