MLP Saglik Hizmetleri (MPARK) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached TL 34.1 bn, up 6% year-over-year, with Q2 2026 revenue at TL 16.7 bn, and net profit for H1 2026 at TL 3.2 bn.

• EBITDA rose 25% year-over-year in H1 2026 to TL 10.0 bn, driven by efficiency initiatives and favorable revenue mix.

• Net profit for Q2 2026 was TL 1.3 bn, down 1% due to a non-recurring investment expense.

• Total assets stood at TL 95.3 bn as of June 30, 2026, with equity attributable to owners at TL 43.8 bn.

• The group operates 18 subsidiaries in healthcare, employing 14,635 people as of June 30, 2026.

Financial highlights

• Q2 2026 revenue: TL 16.7 bn (up 7% year-over-year); H1 2026 revenue: TL 34.1 bn (up 6%).

• Q2 2026 EBITDA: TL 4.8 bn (up 26%); H1 2026 EBITDA: TL 10.0 bn (up 25%).

• Q2 2026 net profit: TL 1.3 bn (down 1%); H1 2026 net profit: TL 3.2 bn (up 4%).

• Gross profit for H1 2026 was TL 8.93 bn, up from TL 8.56 bn year-over-year.

• Free cash flow turned positive in H1 2026 at TL 1.7 bn, compared to negative TL 1.3 bn in H1 2025.

Outlook and guidance

• Expansion plans include new hospital openings in Bursa and Çanakkale by Q4 2026–Q1 2027, and further projects in Istanbul and Ankara by Q4 2027–Q1 2028.

• Consolidated licensed bed capacity expected to rise from 5,642 in 2026E to 6,027 in 2027E.

• The group continues to invest in property, plant, and equipment, maintaining a strong capital base.