Anadolu Group Maintained Its Solid Financial Performance in the First Nine Months of the Year

Anadolu Group announced its financial results for the first nine months of 2026. The Group’s consolidated sales revenue increased by 3.4% year-on-year to TRY 695.4 billion, while EBITDA rose by 0.3% to TRY 70.6 billion. Excluding one-off impacts, the Group’s net profit attributable to shareholders of the parent company increased by 16.4% to TRY 5.8 billion. Excluding the effects of IAS 29, EBITDA increased by 30.9%, while consolidated sales revenue rose by 35.8% year-on-year to TRY 659.3 billion.

Among the Group’s core operations, sales revenues in the Soft Drinks and Retail segments increased by 5.4% and 4.1%, respectively, in the first nine months of 2026 compared to the same period of the previous year, while sales revenue in the Beer segment declined by 6.2%. Sales revenue in the Agriculture, Energy and Industry segments increased by 4.4%, whereas the Automotive segment recorded a 2.5% decline.

“We Delivered Solid Financial Results Despite Uncertainties”

Commenting on the Group’s performance in the first nine months of the year, Burak Başarır, CEO of Anadolu Group, said: “Despite the challenging macroeconomic environment, we delivered solid financial and operational results in the first nine months of the year.” Başarır continued: “Ongoing geopolitical tensions in our region significantly altered macroeconomic environment compared with our expectations at the beginning of the year, while the increasing weakness in consumption dynamics in Türkiye was anothe key factor shaping our operating environment in the first nine months of 2026. Our balanced and diversified portfolio continued to support our resilience amid challenging operating conditions. Our operational agility and strong execution capabilities enabled us to respond swiftly and effectively to changing conditions. We maintained our growth momentum, increasing our revenues by 3.4% in the first nine months of the year. During this period, we generated EBITDA of TRY 70.6 billion, slightly higher than the prior year.”

“We Maintained Our Strong Relationships with Customers and Consumers”

Noting that operations in Central Asia had a positive contribution on financial results, Burak Başarır said: “In addition, our soft drinks operations in Pakistan gained significant momentum from the second quarter onwards. While the Retail segment in Türkiye maintained its growth, pressure on purchasing power weighed on demand in the Soft Drinks and Beer segments. During this period, we maintained our strong relationships with customers and consumers by striking a balance between affordability and profitability. Our operational discipline and consumer-centric approach continued to contribute positively to our performance.”

“We Further Strengthened Our Balance Sheet”

Burak Başarır emphasized that prudent balance sheet management, strong free cash flow generation, effective cost control and proactive risk management underpin the Group’s financial approach and enables it to navigate challenging conditions successfully. Başarır stated: “Through this approach, we continued investing in our businesses and long-term growth while further strengthening our balance sheet by lowering our consolidated net debt to EBITDA ratio from 1.1x at the end of the third quarter of 2025 to 1.0x in the third quarter of 2026.”

“International Operations Supported Growth in Soft Drinks”

Burak Başarır noted that international operations remained the primary driver of growth in the Soft Drinks segment. He said: “Strong volume performance in Pakistan and Uzbekistan more than offset the impact of weak demand in Türkiye. Our focus on affordability continued to remain at the center of our commercial strategy. Our profitability performance remained in line with the expectations we communicated throughout the year. We delivered strong consolidated profitability over the first nine months of the year.”

Commenting on the performance of the Beer Group, Başarır said: “Beer operations in Türkiye remained under pressure in terms of both volume and profitability due to weak consumer demand and increasing price sensitivity. In addition, tourism activity came in below last year’s levels, creating a further headwind. On the other hand, our international operations, led by Kazakhstan, delivered a strong performance.”

“Our Omnichannel Structure Supported Revenue Growth in Retail”

Noting that retail operations maintained growth momentum, Burak Başarır continued: “Our omnichannel structure and continued store openings supported revenue growth. On the other hand, the shorter tourism season and shelf price increases that remained below inflation weighed on real growth. While promotional activities, the transfer of distribution center employees to the Migros payroll and pricing investments in the food delivery business put pressure on profitability. These impacts were partially offset by productivity enhancing technology investments and disciplined cost management.”

“SamAuto Made a Positive Contribution to Growth and Profitability in Automotive”

Burak Başarır stated that industry-wide competition, slower export volumes, the depreciation of the local currency lagging behind inflation and changes in tax regulations continued to adversely affect profitability across the automotive sector.

Başarır noted that Anadolu Isuzu’s investment in SamAuto contributed positively to the segment’s financial results, both in terms of inorganic growth and profitability.

“We Will Achieve a More Focused Portfolio Structure and Move to a Net Cash Position”

As part of the Group’s efforts to optimize its portfolio and maximize the efficient utilization of its assets, Burak Başarır announced that an agreement had been signed on November 2, 2026, for the sale of Anadolu Group’s stake in Togg, representing 23% of its share capital, for a consideration of EUR 184 million. Başarır commented: “Upon completion of the transaction, we will achieve a more focused portfolio structure and move to a net cash position at the holding company level. Our ability to proactively manage risks and assess opportunities with discipline forms the foundation of our long-term strategy. With our resilient business model and strong financial structure, we continue to make steady progress towards our Vision 2035 goals and create long-term value for all our stakeholders.”