MNDRS FINANCIAL STATEMENTS

Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi — balance sheet, income statement and cash flow trends

MNDRSMenderes Tekstil Sanayi ve Ticaret Anonim Sirketi

🇹🇷 Turkey · IS · Consumer Cyclical · Textile Manufacturing

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue9 B ₺-8.8%

Gross Profit502.4 M ₺-33.6%

Operating Income93.5 M ₺-85.5%

EBITDA1.1 B ₺-33.8%

Net Income72.5 M ₺-90.5%

Peer Comparison· Textile Manufacturing

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
MNDRS	-8.8%	5.6%	12.0%	0.8%
CATO	1.8%	33.1%	1.2%	-0.0%
KGF	1.3%	38.1%	10.1%	1.9%
PLCE	-13.1%	26.4%	-3.7%	-9.1%
GAMB	19.2%	86.1%	-12.5%	-27.4%
UHG	-12.3%	17.6%	-1.2%	-4.0%
Industry median	-9.1%	17.7%	13.9%	-2.6%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
MNDRS	-8.8%	5.6%	12.0%	0.8%
ENSRI	-40.5%	13.1%	1.2%	-17.9%
ATEKS	-66.2%	-1.0%	-21.7%	229.6%
ARTMS	-58.1%	38.7%	30.2%	31.2%
LUKSK	-11.6%	24.5%	19.5%	10.5%
SANKO	-32.3%	2.8%	0.6%	-2.0%
Industry median	-9.1%	17.7%	13.9%	-2.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity16.5 B ₺70%
Current Liabilities3.4 B ₺14%
Long-term Liabilities3.8 B ₺16%

Key Figures

YoY change

Total Assets23.7 B ₺+26.2%

Total Liabilities7.2 B ₺+19.7%

Total Equity16.5 B ₺+29.2%

Cash & ST Investments2.3 B ₺+138.4%

Total Debt3.3 B ₺+0.2%

Net Debt1 B ₺-56.5%

Peer Comparison· Textile Manufacturing

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
MNDRS	2.21	20.2%	0.95	69.5%
CATO	1.29	87.0%	7.92	38.0%
KGF	1.21	38.0%	1.44	54.0%
PLCE	0.89	-591.1%	-14.47	-14.7%
GAMB	1.31	112.8%	-5.45	36.9%
UHG	2.10	257.2%	-24.96	20.7%
Industry median	2.05	16.1%	1.23	68.6%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
MNDRS	2.21	20.2%	0.95	69.5%
ENSRI	1.81	28.6%	80.02	61.6%
ATEKS	2.06	4.8%	-1.20	75.6%
ARTMS	3.69	21.1%	1.82	72.5%
LUKSK	2.13	5.0%	0.41	74.3%
SANKO	1.56	0.0%	-2.83	67.6%
Industry median	2.05	16.1%	1.23	68.6%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow1.8 B ₺+255.5%

Capital Expenditures-147.8 M ₺—

Free Cash Flow1.7 B ₺+828.4%

Dividends Paid0 ₺—

Peer Comparison· Textile Manufacturing

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
MNDRS	20.3%	18.9%	1.6%	2,515.5%
CATO	0.4%	-0.2%	0.6%	-1,193.0%
KGF	11.2%	8.1%	3.0%	594.3%
PLCE	-0.3%	-2.1%	1.9%	3.2%
GAMB	2.5%	1.6%	1.0%	-9.2%
UHG	-4.9%	-5.4%	0.5%	121.5%
Industry median	16.5%	3.4%	3.9%	11.2%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
MNDRS	20.3%	18.9%	1.6%	2,515.5%
ENSRI	-20.1%	-16.1%	1.7%	112.2%
ATEKS	7.0%	11.5%	4.5%	3.1%
ARTMS	71.5%	-31.4%	104.3%	228.9%
LUKSK	45.2%	49.9%	4.7%	431.5%
SANKO	-4.3%	-2.6%	0.0%	208.6%
Industry median	16.5%	3.4%	3.9%	11.2%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.