🔵🇺🇸 #BORSK | Bor Sugar 2025/12 Earnings Analysis - Inflation Accounting Wiped Out Bor Şeker's Profit

### Key Highlights from the 2025 Financial Reports (English)*   **Revenue and Operational Performance:** The company generated **3,831,327,576 TL** in revenue during the period from April 1 to December 31, 2025, an increase from 3,571,319,345 TL in the same period of the previous year. **Operating profit** was realized at 419,627,830 TL.*   **Net Profit/Loss:** The nine-month period ended with a **net loss of 128,548,594 TL**, primarily influenced by inflation adjustments and net monetary position losses. However, the company's **EBITDA margin** improved from 11.57% to **16.30%**.*   **Capital Increase:** The company's capital was increased by 300% from **240,000,000 TL to 960,000,000 TL**, funded entirely through internal resources (share premiums). This was approved by the CMB on December 4, 2025.*   **Asset Growth:** Total assets reached **9,775,370,306 TL**, up from 8,469,363,104 TL on March 31, 2025. This growth was driven by increases in tangible fixed assets and inventory levels.*   **Strategic Investments:** An agreement was reached to purchase machinery and equipment for an ethyl alcohol production plant for **7.2 million USD + VAT**, with clearance obtained from the Competition Authority. Additionally, a **contract manufacturing agreement** was signed with Amasya Sugar Factory for processing 150,000 tons of sugar beets.*   **Employment:** The number of personnel increased from 408 as of March 31, 2025, to **652** by December 31, 2025.