Girisim Elektrik rises as strong margins, backlog outweigh profit hit

Is Girisim Sermayesi Yatirim Ortakligi

20/05/2026 09:07

** Shares in Turkish energy engineering firm Girisim Elektrik GESAN.IS rise more than 6% as strong first-quarter margins and backlog outweigh non-operating hits to profit

** Q1 net profit fell to 181.7 million lira from 540 million lira a year earlier, while revenue increased to 6.8 billion lira from 5.2 billion lira

** EBITDA rose 103% to 2.3 billion lira, with gross margin expanding sharply to 39.6%, supported by a higher share of medium- and high-voltage products, says Global Menkul Degerler

** The brokerage highlights a sharp rise in order advances and deferred revenues, pointing to a strong backlog and sustained business activity in the coming quarters

** It adds the drop in net profit was largely driven by monetary losses, weaker foreign-exchange income and higher deferred tax expenses rather than core operations

* Shares are second best performers on Turkey's main BIST 100 index .XU100. Today's rise brings YTD gains to over 33%​

 (Reporting by Canan Sevgili)

 ((canan.sevgili@thomsonreuters.com))