Teknosa Iç ve Dis Ticaret Anonim Sirketi (TKNSA) Q1 2026 earnings summary

Executive summary

• Revenue grew 3% year-over-year in Q1 2026 to TL 22.2 billion, driven by strong e-commerce momentum, marketplace expansion, and focus on high-margin products, despite challenging macroeconomic and geopolitical conditions.

• EBITDA increased 12% year-over-year to TL 643 million, with margin improving to 2.9%, while gross margin declined to 11.5% due to seasonality and competition.

• Net loss narrowed to TL 477 million from TL 542 million year-over-year, mainly due to increased financial expenses and lower tax income.

• Store network optimized to 138 locations, with selective expansion of large-format, experience-driven stores and closure of underperforming sites.

• Strategic initiatives included AI-driven inventory optimization, SAP rollout, digital expansion, and alternative payment solutions.

Financial highlights

• Revenues reached TL 22,240 million, up 3% year-over-year; like-for-like sales grew 9.6%.

• EBITDA rose to TL 643 million, a 12% increase, with margin improving to 2.9%.

• Gross profit margin declined to 11.5% from 12.7% year-over-year.

• Net loss improved to TL 477 million from TL 542 million in Q1 2025.

• OPEX-to-sales ratio improved by 1.2 percentage points to 11.6%.

Outlook and guidance

• Full-year impact of efficiency and profitability initiatives expected from the second half of 2026.

• Focus remains on financial discipline, inventory and liquidity management, and cost control.

• Anticipate gradual improvement in net income as interest rates normalize and operational efficiencies increase.

• Commitment to long-term growth, value creation, and sustainability targets, including reducing Scope 1 and 2 emissions by 42% by 2030 and achieving Net Zero by 2050.