MLP Saglik Hizmetleri (MPARK) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 grew 7% year-over-year to TL 39,221m, with Q3 revenue up 0.2% to TL 13,064m compared to Q3 2024.

• EBITDA increased 10.7% year-over-year to TL 10,455m for 9M 2025, with Q3 EBITDA up 14.1% to TL 3,986m.

• Net profit attributable to equity holders declined 24.4% year-over-year to TL 4,075m for 9M 2025, and dropped 41.9% in Q3 to TL 1,619m.

• Two new hospitals opened in Istanbul in August and September 2025, including the acquisition of Özel Medistanbul Hospital, adding significant bed and operating theatre capacity.

• Earnings per share for the period was 21.33, down from 28.20 in the prior year.

Financial highlights

• Gross profit rose 9.9% year-over-year to TL 10,946m for 9M 2025.

• EBITDA margin improved to 26.7% in 9M 2025 from 25.7% in 9M 2024.

• Average revenue per visit increased 12% year-over-year, and average revenue per protocol rose 4%.

• Outpatient and inpatient revenues grew, with inpatient up 6.1% and outpatient up 15% year-over-year.

• Operating profit reached TL 7,480m, compared to TL 6,670m in the same period last year.

Outlook and guidance

• Management expects continued growth supported by domestic private medical insurance and efficiency initiatives.

• Expansion investments and new Turkish Financial Reporting Standards are expected to impact future performance.