Ziraat GYO stock reports TRY 2.2 billion in H1 sales

Ziraat GYO stock (ISIN TRAZRGYO91Q0) reported TRY 2.2 billion in sales for the first six months of 2026, a 44 percent increase from the comparable period, according to Hissecim. The result shows stronger top-line growth, but the earnings profile moved in the opposite direction.

Sales rise as profit retreats

Net profit for the 2026/6 reporting period stood at TRY 939.3 million, down 66 percent from TRY 2.8 billion in 2025/6, the same financial summary shows. Operating profit reached TRY 1.3 billion, compared with TRY 1.1 billion a year earlier, while EBITDA increased 11 percent to TRY 1.3 billion.

The contrast matters for Ziraat GYO because higher sales did not translate into higher bottom-line earnings. Revenue growth of 44 percent and net profit decline of 66 percent create a wide gap between operating expansion and reported profitability.

Kartal project adds development pipeline

Ziraat GYO also became part of a mixed-use real estate project in Istanbul's Kartal district with Halk GYO and Vakif GYO. As Yeni Safak reported on September 18, 2026, the partners signed their agreement on that date.

The planned development covers two properties measuring 37,915.84 square meters and 2,929.96 square meters, or 40,845.80 square meters combined. Income, expenses and profit from the project will be shared equally among the three companies, giving Ziraat GYO a defined one-third economic participation.

Profit conversion is the key test

The H1 figures leave investors with two measurable checkpoints: sales growth reached 44 percent, while net profit fell 66 percent. The Kartal project expands the asset pipeline, but its financial contribution will depend on development timing, realized property values and the eventual pace of revenue recognition.

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