Haci Ömer Sabanci Holding (SAHOL) Q4 2025 earnings summary

Executive summary

• Achieved a return to profitability in 2025, with consolidated net income reaching TL 3.8 billion, driven by strong Q4 momentum and balanced portfolio execution.

• Introduced a portfolio-driven governance model, aligning capital allocation with strategic priorities and enhancing recurring earnings visibility.

• Maintained uninterrupted dividend distributions for 24 consecutive years, with a proposed dividend of TL 2.97 billion (TL 1.41 per share) for 2025.

• Received strong external ESG recognition, including AA ratings from MSCI and inclusion in the S&P Global Sustainability Yearbook.

• Received a binding offer for a 39.72% stake in Akçansa, valuing the company at $1.1 billion.

Financial highlights

• Consolidated net income reached TL 3.8 billion in 2025, a swing of over TL 24 billion year-over-year.

• Combined revenue was TL 1,624 billion in 2025, nearly flat year-over-year.

• Non-bank EBITDA margin rose to 12.4%, up 87 bps year-over-year; combined EBITDA was TL 54 billion with a 13% margin.

• Operational cash flow from non-bank businesses grew to TL 89.3 billion.

• Net debt/EBITDA for non-bank operations at 1.6x, within policy limits.

Outlook and guidance

• Anticipates gradual net interest margin expansion in banking, supported by focused growth and funding adaptability.

• Plans to exceed 6 GW energy generation capacity by 2028, with continued investment in wind and climate technologies.

• Focus remains on portfolio agility, capital efficiency, and strategic transformation to unlock value.

• Elevated geopolitical risks and tight financial conditions expected to persist into 2026.

• Expanding renewable energy capacity and a stronger foreign currency revenue base support future growth.