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Haci Ömer Sabanci Holding (SAHOL) investor relations material
Haci Ömer Sabanci Holding Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved a strong turnaround in Q3 2025 with TL 679 million net income, reversing a TL 3.8 billion net loss in Q3 2024, driven by improved margins in energy and financial services, higher banking net interest margin, and fee income.
Strategic milestones included U.S. solar farm acquisitions, expansion in cloud services in the U.K. and Uzbekistan, and commissioning of a cement plant in Houston.
Non-bank EBITDA margin improved by 35bps year-over-year in Q3 and by 134bps for the nine-month period, supported by cost control and efficiency initiatives.
Maintained a healthy balance sheet and strong operating cash flow, enabling ongoing investments aligned with strategic targets.
Non-bank net income reached TL 1.3 billion in Q3 2025, up from TL 22 million in Q3 2024, with consolidated ROE improving to -1.5% from -5.1% at end-2024.
Financial highlights
Combined revenue was TL 394 billion in Q3 2025, down 3% year-over-year, mainly due to a 4% decline in non-bank revenues, while combined EBITDA increased.
EBITDA margin increased by 134bps year-over-year in 9M'25 and by 35bps in Q3'25.
Consolidated net income swung to TL 0.7bn in Q3'25 from a TL 3.8bn loss in Q3'24; non-bank net income at TL 0.4bn for 9M'25 vs. TL 4.5bn loss in 9M'24.
Operational cash flow remained strong at TL 53bn for 9M'25.
Net asset value stands at $9.4 billion, slightly above the lowest point in 2025.
Outlook and guidance
Strategic flexibility in capital allocation maintained, with continued focus on cash flow discipline and prudent financial management amid global and domestic volatility.
U.S. renewable energy portfolio expanded to 790 MW, with total capital commitment to U.S. business reaching USD 395 million by end-2025.
Enerjisa Üretim targets at least 6,250 MW generation capacity by end-2028, with new power plants planned for commissioning by year-end.
Capex/sales ratio at 12%, on track with mid-term guidance.
IPO for Enerjisa Üretim will be timed to capitalize on optimal market conditions, with no definitive deadline.
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Record H1 revenue and profit before tax (adj.) with strong North America and Hibbett growth. - MCOV
Q3 revenue up 19.8% with record cash flow, but profit hit by €16.4m impairment charge. - MTM
Earnings up 27% to ZAR 4.4bn, record sales, and ZAR 1bn buyback boost returns. - ENTRA
Profit before tax rebounded to NOK 156 million as leverage and market outlook improved. - 777
Revenue fell 10.3% YoY, but EBITDA rose 12.9% and new games and education strategy drive outlook. - SAAB
Record order intake, 18% sales growth, and SEK 190bn backlog drive robust outlook. - COOR
Flat Q3 growth, margin actions, and strong contract pipeline amid staff reductions. - DORO
Q3 sales dropped 20.2% but gross margin rose to 50.3%, with new launches and strong cash. - SIKA
Refurbishment, sustainability, and innovation drive growth with strong financial and climate targets. - NPAPER
Q3 net sales hit SEK 1,100m with stable EBITDA, but Q4 demand is expected to weaken.
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