Balance Sheet Oba Makarnacilik Sanayi ve Ticaret

Equities

OBAMS

TREOBAM00011

Food Processing

Market Closed - Borsa Istanbul Other stock markets 08:39:54 12/03/2026 pm IST			5-day change	1st Jan Change
7.480 ^TRY	-3.11%		-3.11%	-6.03%

10:33am	Oba Makarnacilik FY net result turns to loss of 2.05 bln lira yoy	RE
09/11	Oba Makarnacilik Sanayi ve Ticaret A.S. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2025	CI

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Published financial data: OBA MAKARNACILIK SANAYI VE TICARET

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	309.95Cr	521.58Cr	1.11TCr	2.34TCr	1.73TCr
Total Revenues	309.95Cr	521.58Cr	1.11TCr	2.34TCr	1.73TCr
Cost of Goods Sold, Total	263.84Cr	407.78Cr	973.34Cr	2.14TCr	1.45TCr
Gross Profit	46Cr	113.8Cr	133.57Cr	200.37Cr	283.93Cr
Selling General & Admin Expenses, Total	27Cr	73Cr	121.22Cr	146.39Cr	174.89Cr
Other Operating Expenses	-55.34L	-71.97L	-3Cr	-43Cr	-12Cr
Other Operating Expenses, Total	26Cr	73Cr	118.22Cr	103.7Cr	163.2Cr
Operating Income	20Cr	41Cr	15Cr	97Cr	120.74Cr
Interest Expense, Total	-1.94Cr	-1.82Cr	-14Cr	-144.82Cr	-11Cr
Interest And Investment Income	13.34L	47.45L	15.32L	50Cr	16Cr
Net Interest Expenses	-1.81Cr	-1.35Cr	-14Cr	-94Cr	4.77Cr
Currency Exchange Gains (Loss)	-2.27Cr	-26Cr	9.35Cr	84Cr	45Cr
Other Non Operating Income (Expenses)	-8L	-50.75L	-2.5Cr	77Cr	-153.31Cr
EBT, Excl. Unusual Items	16Cr	13Cr	8.04Cr	163.86Cr	17Cr
Gain (Loss) On Sale Of Investments	-	-	-	-	-34Cr
Insurance Settlements	5L	-	7L	7L	3.33Cr
Legal Settlements	4L	-13.98L	-29.42L	93.82L	3.62Cr
EBT, Incl. Unusual Items	16Cr	13Cr	7.82Cr	164.87Cr	-9.92Cr
Income Tax Expense	23.34L	61.45L	-3.14Cr	37Cr	-41Cr
Earnings From Continuing Operations	16Cr	13Cr	11Cr	127.89Cr	31Cr
Net Income to Company	16Cr	13Cr	11Cr	127.89Cr	31Cr
Net Income - (IS)	16Cr	13Cr	11Cr	127.89Cr	31Cr
Net Income to Common Incl Extra Items	16Cr	13Cr	11Cr	127.89Cr	31Cr
Net Income to Common Excl. Extra Items	16Cr	13Cr	11Cr	127.89Cr	31Cr
Per Share Items
Net EPS - Basic	-	-	0.04	0.52	0.11
Basic EPS - Continuing Operations	-	-	0.04	0.52	0.11
Basic Weighted Average Shares Outstanding	-	-	244.3Cr	244.3Cr	287.65Cr
Net EPS - Diluted	-	-	0.04	0.52	0.11
Diluted EPS - Continuing Operations	-	-	0.04	0.52	0.11
Diluted Weighted Average Shares Outstanding	-	-	244.3Cr	244.3Cr	287.65Cr
Normalized Basic EPS	-	-	0.02	0.42	0.04
Normalized Diluted EPS	-	-	0.02	0.42	0.04
Dividend Per Share	-	-	-	0.11	0.01
Payout Ratio	2.9	-	77.77	-	99.86
Supplemental Items
EBITDA	22Cr	44Cr	19Cr	119.1Cr	156.93Cr
EBITA	20Cr	41Cr	15Cr	97Cr	120.75Cr
EBIT	20Cr	41Cr	15Cr	97Cr	120.74Cr
Effective Tax Rate - (Ratio)	1.48	4.63	-40.16	22.43	409.3
Total Current Taxes	2L	3L	3L	13Cr	6.28Cr
Total Deferred Taxes	20.98L	58.01L	-3.17Cr	24Cr	-47Cr
Normalized Net Income	9.78Cr	8.38Cr	5.03Cr	102.41Cr	11Cr
Supplemental Operating Expense Items
Advertising Expense	-	-	-	77.98L	3.67Cr
Marketing Expenses	23Cr	67Cr	115.42Cr	136.56Cr	147.27Cr
Selling and Marketing Expenses	23Cr	67Cr	115.42Cr	137.34Cr	150.94Cr
General and Administrative Expenses	3.84Cr	5.81Cr	5.8Cr	9.05Cr	24Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	56.42L	15.28L	3.42Cr	24Cr	261.2Cr
Total Cash And Short Term Investments	56.42L	15.28L	3.42Cr	24Cr	261.2Cr
Accounts Receivable, Total	31Cr	51Cr	128.52Cr	194.36Cr	216.64Cr
Other Receivables	3.83Cr	5.47Cr	6.81Cr	8.1Cr	8.39Cr
Total Receivables	35Cr	56Cr	135.33Cr	202.47Cr	225.03Cr
Inventory	57Cr	71Cr	140.88Cr	241.87Cr	237.45Cr
Prepaid Expenses	10.92L	21.44L	61.53L	2.1Cr	9.17Cr
Other Current Assets, Total	51.63L	37.57L	21Cr	16Cr	22Cr
Total Current Assets	93Cr	128.17Cr	300.84Cr	486.7Cr	754.51Cr
Gross Property Plant And Equipment	50Cr	61Cr	113.42Cr	424Cr	586.47Cr
Accumulated Depreciation	-9.35Cr	-12Cr	-16Cr	-116.86Cr	-192.59Cr
Net Property Plant And Equipment	41Cr	48Cr	97Cr	307.15Cr	393.88Cr
Other Intangibles, Total	51.05T	40.97T	82.46T	3L	3L
Deferred Tax Assets Long-Term	3.16Cr	6.95Cr	19Cr	-	30Cr
Other Long-Term Assets, Total	1.02Cr	7.18Cr	22Cr	10Cr	15Cr
Total Assets	138.41Cr	190.47Cr	438.58Cr	803.97Cr	1.19TCr
Liabilities
Accounts Payable, Total	19Cr	16Cr	75Cr	116.78Cr	52Cr
Accrued Expenses, Total	62.66L	1.24Cr	1.99Cr	3.74Cr	5.59Cr
Short-term Borrowings	24Cr	47Cr	189.58Cr	48Cr	30Cr
Current Portion of Long-Term Debt	2.45Cr	3.7Cr	6.79Cr	14Cr	30.49L
Current Income Taxes Payable	1L	51.72T	-	4.72Cr	71.89L
Unearned Revenue Current, Total	13Cr	27Cr	22Cr	151.37Cr	112.6Cr
Other Current Liabilities	1.46Cr	1.35Cr	6.73Cr	92.22L	29Cr
Total Current Liabilities	61Cr	96Cr	302.54Cr	339.77Cr	230.43Cr
Long-Term Debt	6.59Cr	6.22Cr	7.31Cr	13Cr	-
Pension & Other Post Retirement Benefits	41.66L	65L	1.28Cr	1.79Cr	4.02Cr
Deferred Tax Liability Non Current	-	-	-	12Cr	-
Total Liabilities	68Cr	103.33Cr	311.13Cr	366.74Cr	234.45Cr
Common Stock, Total	21Cr	21Cr	41Cr	41Cr	48Cr
Additional Paid In Capital	-	-	-	-	357.65Cr
Retained Earnings	45Cr	58Cr	36Cr	219.99Cr	317.67Cr
Treasury Stock	-	-	-	-	-36Cr
Comprehensive Income and Other	4.79Cr	8.82Cr	50Cr	176.53Cr	271.39Cr
Total Common Equity	70Cr	87Cr	127.46Cr	437.23Cr	958.99Cr
Total Equity	70Cr	87Cr	127.46Cr	437.23Cr	958.99Cr
Total Liabilities And Equity	138.41Cr	190.47Cr	438.58Cr	803.97Cr	1.19TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	-	244.3Cr	244.3Cr	287.65Cr
ECS Total Common Shares Outstanding	-	-	244.3Cr	244.3Cr	287.65Cr
Book Value / Share	-	-	0.52	1.79	3.33
Tangible Book Value	70Cr	87Cr	127.45Cr	437.21Cr	958.96Cr
Tangible Book Value Per Share	-	-	0.52	1.79	3.33
Total Debt	33Cr	57Cr	203.68Cr	75Cr	30Cr
Net Debt	32Cr	57Cr	200.26Cr	51Cr	-230.9Cr
Account Code - Inventory Valuation	-	-	5	6	6
Inventories - Raw Materials, Total	34Cr	39Cr	36Cr	48Cr	81Cr
Inventories - Finished Goods, Total	20Cr	25Cr	51Cr	57Cr	83Cr
Inventories - Others	1.62Cr	2.68Cr	13Cr	52Cr	8.94Cr
Land - (BS)	5.22Cr	5.22Cr	33Cr	64Cr	92Cr
Buildings, Total	10Cr	13Cr	20Cr	53Cr	74Cr
Machinery, Total	34Cr	43Cr	61Cr	307.43Cr	419.7Cr
Full Time Employees	-	-	1.5T	1.23T	845
Accumulated Allowance for Doubtful Accounts (Supple)	2.79Cr	5.36Cr	6.83Cr	6.15Cr	2.69Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	16Cr	13Cr	11Cr	127.89Cr	31Cr
Depreciation & Amortization - CF	2.07Cr	3.12Cr	4.04Cr	22Cr	36Cr
Amortization of Goodwill and Intangible Assets - (CF)	25.52T	17.22T	18.28T	88.13T	1L
Depreciation & Amortization, Total	2.07Cr	3.12Cr	4.04Cr	22Cr	36Cr
(Gain) Loss From Sale Of Asset	-13.34L	-	-8L	-1.15Cr	-
Asset Writedown & Restructuring Costs	-	-	-	-	34Cr
Provision and Write-off of Bad Debts	1.34Cr	1.66Cr	1.47Cr	-85.3L	-3.46Cr
Other Operating Activities, Total	6.66Cr	34Cr	25Cr	-22Cr	-141.96Cr
Change In Accounts Receivable	-12Cr	-21Cr	-79Cr	18Cr	64Cr
Change In Inventories	-28Cr	-12Cr	-33Cr	8.81Cr	55Cr
Change In Accounts Payable	7.39Cr	-3.38Cr	30Cr	-7.44Cr	-116.53Cr
Change in Unearned Revenues	5.01Cr	14Cr	-5.78Cr	94Cr	-105.95Cr
Change in Other Net Operating Assets	3.4Cr	-4.01Cr	-30Cr	7.7Cr	43Cr
Cash from Operations	1.24Cr	25Cr	-77Cr	247.65Cr	-105.4Cr
Capital Expenditure	-7.67Cr	-16Cr	-34Cr	-53Cr	-20Cr
Sale of Property, Plant, and Equipment	5L	-	8L	3.92Cr	-
Sale (Purchase) of Real Estate properties	-96.25L	-	-	-3.57Cr	-
Sale (Purchase) of Intangible assets	-2.71T	-7.15T	-59.76T	-	-
Other Investing Activities, Total	-	-	-	39Cr	-
Cash from Investing	-8.59Cr	-16Cr	-34Cr	-14Cr	-20Cr
Long-Term Debt Issued, Total	349.36Cr	368.51Cr	952.89Cr	416.25Cr	136.59Cr
Total Debt Issued	349.36Cr	368.51Cr	952.89Cr	416.25Cr	136.59Cr
Long-Term Debt Repaid, Total	-339.98Cr	-375.51Cr	-816.3Cr	-607.75Cr	-126.22Cr
Total Debt Repaid	-339.98Cr	-375.51Cr	-816.3Cr	-607.75Cr	-126.22Cr
Issuance of Common Stock	-	-	-	-	364.87Cr
Repurchase of Common Stock	-	-	-	-	-36Cr
Common Dividends Paid	-45.01L	-	-8.52Cr	-	-31Cr
Common & Preferred Stock Dividends Paid	-45.01L	-	-8.52Cr	-	-31Cr
Other Financing Activities, Total	-1.2Cr	-1.82Cr	-14Cr	-24Cr	1.31Cr
Cash from Financing	7.74Cr	-8.82Cr	113.77Cr	-215.84Cr	310.24Cr
Miscellaneous Cash Flow Adjustments	-	-	-	-	42Cr
Net Change in Cash	39.24L	-41.14L	3.27Cr	18Cr	226.7Cr
Supplemental Items
Cash Interest Paid	1.2Cr	1.82Cr	14Cr	25Cr	11Cr
Cash Income Tax Paid (Refund)	3L	76.07T	-2L	7.85Cr	5.57Cr
Levered Free Cash Flow	-	-13Cr	-138.49Cr	87Cr	58Cr
Unlevered Free Cash Flow	-	-12Cr	-129.55Cr	177.66Cr	66Cr
Change In Net Working Capital	-	25Cr	109.13Cr	-147.53Cr	26Cr
Net Debt Issued / Repaid	9.38Cr	-6.99Cr	136.59Cr	-191.5Cr	10Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-	15.66	3.05	7.4	6.41
Return on Total Capital	-	20.86	4.04	10.42	8.73
Return On Equity %	-	16.07	10.21	34.16	3.86
Return on Common Equity	-	16.07	10.21	34.16	3.86
Margin Analysis
Gross Profit Margin %	14.88	21.82	12.07	8.55	16.38
SG&A Margin	8.67	14.06	10.95	6.25	10.09
EBITDA Margin %	7.06	8.5	1.75	5.08	9.05
EBITA Margin %	6.39	7.9	1.39	4.13	6.97
EBIT Margin %	6.39	7.9	1.39	4.13	6.97
Income From Continuing Operations Margin %	5	2.43	0.99	5.46	1.77
Net Income Margin %	5	2.43	0.99	5.46	1.77
Net Avail. For Common Margin %	5	2.43	0.99	5.46	1.77
Normalized Net Income Margin	3.16	1.61	0.45	4.37	0.61
Levered Free Cash Flow Margin	-	-2.52	-12.51	3.72	3.37
Unlevered Free Cash Flow Margin	-	-2.31	-11.7	7.58	3.78
Asset Turnover
Asset Turnover	-	3.17	3.52	2.87	1.47
Fixed Assets Turnover	-	11.69	15.26	8.36	4.14
Receivables Turnover (Average Receivables)	-	12.69	12.35	11.54	6.97
Inventory Turnover (Average Inventory)	-	6.38	9.18	8.25	4.94
Short Term Liquidity
Current Ratio	1.53	1.33	0.99	1.43	3.27
Quick Ratio	0.59	0.58	0.46	0.67	2.11
Operating Cash Flow to Current Liabilities	0.02	0.26	-0.25	0.73	-0.46
Days Sales Outstanding (Average Receivables)	-	28.75	29.56	31.63	52.5
Days Outstanding Inventory (Average Inventory)	-	57.24	39.76	44.27	74.08
Average Days Payable Outstanding	-	15.37	16	20.88	30.19
Cash Conversion Cycle (Average Days)	-	70.63	53.32	55.02	96.39
Long Term Solvency
Total Debt/Equity	46.22	65.18	159.8	17.19	3.16
Total Debt / Total Capital	31.61	39.46	61.51	14.67	3.06
LT Debt/Equity	9.35	7.13	5.74	2.95	-
Long-Term Debt / Total Capital	6.4	4.32	2.21	2.52	-
Total Liabilities / Total Assets	49.11	54.25	70.94	45.62	19.64
EBIT / Interest Expense	10.21	22.58	1.07	0.67	10.63
EBITDA / Interest Expense	11.28	24.29	1.36	0.82	13.82
(EBITDA - Capex) / Interest Expense	7.32	15.33	-1.02	0.46	12.02
Total Debt / EBITDA	1.49	1.28	10.51	0.63	0.19
Net Debt / EBITDA	1.46	1.28	10.33	0.43	-1.47
Total Debt / (EBITDA - Capex)	2.29	2.03	-13.89	1.13	0.22
Net Debt / (EBITDA - Capex)	2.25	2.02	-13.66	0.77	-1.69
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	68.28	112.22	12.29	-48.77
Gross Profit, 1 Yr. Growth %	-	146.8	17.37	1	-1.85
EBITDA, 1 Yr. Growth %	-	102.66	-56.28	-1.01T	-8.74
EBITA, 1 Yr. Growth %	-	108.08	-62.76	-394.94	-13.5
EBIT, 1 Yr. Growth %	-	108.1	-62.76	-394.87	-13.5
Earnings From Cont. Operations, 1 Yr. Growth %	-	-18.36	-13.44	-160.83	-83.38
Net Income, 1 Yr. Growth %	-	-18.36	-13.44	-160.83	-83.38
Normalized Net Income, 1 Yr. Growth %	-	-14.3	-40.06	-171.46	-92.83
Diluted EPS Before Extra, 1 Yr. Growth %	-	-	-	-160.83	-85.88
Accounts Receivable, 1 Yr. Growth %	-	61.76	153.07	-8.22	-22.8
Inventory, 1 Yr. Growth %	-	25.45	97.95	-12.97	-32
Net Property, Plant and Equip., 1 Yr. Growth %	-	17.22	101.27	21.1	-11.18
Total Assets, 1 Yr. Growth %	-	37.61	130.27	-2.92	2.81
Tangible Book Value, 1 Yr. Growth %	-	23.7	46.27	40.36	51.92
Common Equity, 1 Yr. Growth %	-	23.7	46.27	40.36	51.91
Cash From Operations, 1 Yr. Growth %	-	1.89T	-408.97	-323.11	-130.81
Capital Expenditures, 1 Yr. Growth %	-	113.21	108.08	-30.24	-73.13
Levered Free Cash Flow, 1 Yr. Growth %	-	-	951.72	-124.34	-32.42
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	977.14	-154.32	-39.79
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-94.59
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	88.98	111.96	-8.87
Gross Profit, 2 Yr. CAGR %	-	-	70.2	32.69	19.63
EBITDA, 2 Yr. CAGR %	-	-	-5.87	63.9	245.82
EBITA, 2 Yr. CAGR %	-	-	-11.97	53.16	91.92
EBIT, 2 Yr. CAGR %	-	-	-11.97	53.16	91.9
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-15.94	217.84	-61.79
Net Income, 2 Yr. CAGR %	-	-	-15.94	217.84	-61.79
Normalized Net Income, 2 Yr. CAGR %	-	-	-28.33	249.51	-72.8
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-	-	-64.79
Accounts Receivable, 2 Yr. CAGR %	-	-	102.33	95.64	1.14
Inventory, 2 Yr. CAGR %	-	-	57.59	84.35	-7.57
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	53.6	152.52	24.62
Total Assets, 2 Yr. CAGR %	-	-	78.01	105.45	20.04
Tangible Book Value, 2 Yr. CAGR %	-	-	34.51	124	75.46
Common Equity, 2 Yr. CAGR %	-	-	34.51	124	75.46
Cash From Operations, 2 Yr. CAGR %	-	-	684.73	216.2	-2.55
Capital Expenditures, 2 Yr. CAGR %	-	-	110.63	79.51	-47.98
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	157.26	-59.61
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	284.34	-55.25
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	96.27	49.22
Gross Profit, 3 Yr. CAGR %	-	-	-	63.18	35.63
EBITDA, 3 Yr. CAGR %	-	-	-	75.92	52.4
EBITA, 3 Yr. CAGR %	-	-	-	69.63	43.09
EBIT, 3 Yr. CAGR %	-	-	-	69.64	43.09
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	102.04	34.34
Net Income, 3 Yr. CAGR %	-	-	-	102.04	34.34
Normalized Net Income, 3 Yr. CAGR %	-	-	-	118.76	8.16
Accounts Receivable, 3 Yr. CAGR %	-	-	-	83.62	62.18
Inventory, 3 Yr. CAGR %	-	-	-	62.15	49.43
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	95.52	101.47
Total Assets, 3 Yr. CAGR %	-	-	-	79.76	84.36
Tangible Book Value, 3 Yr. CAGR %	-	-	-	83.78	122.44
Common Equity, 3 Yr. CAGR %	-	-	-	83.78	122.44
Cash From Operations, 3 Yr. CAGR %	-	-	-	484.1	62.05
Capital Expenditures, 3 Yr. CAGR %	-	-	-	90.11	7.73
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	64.31
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	75.95