Turkey's Vestel Elektronik slumps after larger-than-feared Q2 loss

Mazhar Zorlu Holding AS

20/08/2025 08:36

** Shares in Vestel Elektronik VESTL.IS drop about 5% after the Turkish household electronics company reported a larger-than-feared Q2 loss

** Vestel Elektronik, a subsidiary of a large Turkish conglomerate Zorlu Holding MZHLD.IS, Q2 net loss widened y/y to 7.26 billion lira  ($177.78 million

** Brokerage Is Yatirim says the loss was worse than its own expectation of 5.06 billion lira and the market's one of 2.77 billion lira

** The brokerage says lower sales volumes are behind the losses, particularly in its TV business, and weak operating margins

** Vestel Elektronik sits among the worst performers on main BIST 100 index .XU100

($1 = 40.8380 liras)

 (Reporting by Arda Dipova)

 ((arda.dipova@thomsonreuters.com))