Reysas stock: Nine-month profit falls as tax effect reverses
Published on 11/09/2026 at 01:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSEarnings highlight for Reysas
- Pre-tax profit increased despite lower revenue in the first nine months.
- Operating profit advanced as the prior-year tax benefit turned into a tax expense.
- Third-quarter net profit rose sharply from the comparable period.
Reysa? GYO reported a lower nine-month net profit after a major tax effect from the prior year disappeared. Endeks24 said the company published its consolidated financial report for the period ended September 30, 2026, through KAP on October 28.
Net profit attributable to the parent company fell to 3,824.1 million Turkish lira from 13,554.9 million lira a year earlier. The comparison was distorted by a 10,718.7 million lira deferred-tax benefit in the first nine months of 2025, while the latest period included a 603.2 million lira tax expense.
Operating performance remains resilient
Revenue declined 8.6 percent to 3,155.6 million lira. Pre-tax profit nevertheless rose 56.1 percent to 4,427.3 million lira, while operating profit increased 7.9 percent to 2,735.8 million lira. Endeks24 also reported higher net financing income and a larger net monetary gain during the period.
The July-to-September quarter showed a different earnings trend. Net profit increased to 1,728.4 million lira from 481.6 million lira in the comparable quarter, even though quarterly revenue fell to 993.0 million lira from 1,198.3 million lira. Lower tax expense, higher financing income and a swing in net monetary results supported the quarterly improvement.
Warehouse-focused business model
Reysa? GYO is a Turkey-based real estate investment trust focused on developing, owning and leasing A-class warehouse properties. The company targets long-term rental income and operates a logistics-focused portfolio across Turkey. Compared with diversified Turkish GYO peers such as Torunlar GYO, Yeni Gimat GYO and Panora GYO, Reysa? is more specialized in warehouse and logistics real estate. Its headquarters are in Istanbul.
Reysas GYO at a glance
- Company: Reysa? Gayrimenkul Yat?r?m Ortakl??? A.?.
- Reporting period: January 1 to September 30, 2026
- Revenue: 3,155.6 million Turkish lira
- Operating profit: 2,735.8 million Turkish lira
- Pre-tax profit: 4,427.3 million Turkish lira
- Net profit attributable to parent company: 3,824.1 million Turkish lira
- Headquarters: Istanbul, Turkey
Turkey's BIST 100 provides the broader market context for Turkish-listed real estate companies.
For investors, the key issue is whether Reysa? can sustain its operating performance while revenue remains under pressure and tax effects become less supportive. The latest figures point to stronger underlying operating and pre-tax results, but reported net profit remains highly sensitive to tax and financing items.
