Koç Holding (KCHOL) investor relations material

Executive summary

• First quarter 2026 saw strong performance and disciplined execution amid macroeconomic volatility and inflationary pressures, with a diversified portfolio supporting resilience and growth.

• Combined revenue exceeded TL 1.2 trillion, up 7% year-on-year, and consolidated net income reached TL 522 million, reversing last year's net loss.

• All major business segments contributed positively to operating profit, with finance and energy leading, while automotive and consumer durables faced headwinds.

• Maintained robust financial flexibility with net cash position of $969 million and low leverage (Net Financial Debt/EBITDA at 1.5x).

• Distributed $407 million in dividends in March 2026, reflecting ongoing shareholder commitment.

Financial highlights

• Combined profit before tax rose 66% to TL 29.9 billion; consolidated net income improved to TL 522 million from a loss of TL 1.9 billion in Q1 2025.

• Gross profit increased to TL 130.5 billion, operating profit up 33% to TL 30.4 billion.

• Net cash at holding level exceeded $1.0 billion after advance dividend from EYAŞ in April 2026.

• Dividend income of TL 18.8 billion received and TL 18 billion distributed in late March.

• Earnings per share improved to TL 0.206 from negative TL 0.730 in the prior year.

Outlook and guidance

• Ongoing global uncertainties and inflationary pressures expected to persist, with disciplined execution and prudent risk management prioritized.

• Energy and finance segments expected to remain strong, with automotive showing resilience and consumer durables facing challenges.

• Tüpraş expects net refining margin of $6.0–7.0/bbl and capacity utilization of 95–100% for 2026.

• Automotive sector guidance: Tofaş retail sales 350–370k units, TürkTraktör production 140–150k units, Ford Otosan retail domestic volume 390–420k units.

• Arçelik targets high single-digit international revenue growth and 7–8% adjusted EBITDA margin.