Mavi Giyim stock jumps on H1 2026 margin gains and buyback plans

Published on 09/17/2026 at 20:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mavi Giyim stock rose close to 10 percent on September 17, 2026 after the apparel group reported higher H1 2026 margins and confirmed a new share buyback program. The company also reiterated guidance for an EBITDA margin around 18 percent for 2026.

Mavi Giyim, TREMAVI00037, Illustration mit AI erstellt.

Mavi Giyim Sanayi ve Ticaret A.S. stock (ISIN TREMAVI00037) surged on Borsa Istanbul on September 17, 2026 as investors reacted to stronger profitability in H1 2026 and a fresh share buyback program, with the shares closing at 37.72 Turkish lira after a near 10 percent gain.

H1 2026 results show margin expansion

According to an H1 2026 results overview published on September 17, 2026, Mavi reported consolidated revenue of 25,832,000,000 Turkish lira for the first half of 2026, down 1.1 percent year on year in an inflation-adjusted comparison.Investing.com In the same period, EBITDA reached 4,679,000,000 Turkish lira, resulting in an EBITDA margin of 18.1 percent, compared with a lower margin level a year earlier, highlighting improved operating efficiency.Investing.com Net income for the first half of 2026 came in at 807,000,000 Turkish lira, which the company described as resilient given high inflation and weaker consumer demand in Turkey.Haberturk

As detailed in a brokerage analysis dated September 17, 2026, net sales in Q2 2026 were 12,550,000,000 Turkish lira, down 0.36 percent year on year, while EBITDA for the quarter rose 2.36 percent to 1,960,000,000 Turkish lira, underscoring that profitability is improving even as top-line growth slows.Hibya The same assessment noted that net profit in Q2 2026 declined 13.61 percent year on year, showing that higher effective tax and inflation accounting effects are weighing on the bottom line despite better operating trends.Hibya

Guidance and cash generation support investor confidence

In its H1 2026 communication covering the period from February 1, 2026 to July 31, 2026, Mavi highlighted that gross margin increased by 1.8 percentage points compared with the same period a year earlier, reaching 53.1 percent, thanks to disciplined pricing and inventory management in a challenging retail environment.Haberturk The company closed the first half with a net cash position of 6,664,000,000 Turkish lira, underscoring a strong balance sheet that provides flexibility for investments and shareholder returns.Haberturk Mavi also updated its expectations for full-year 2026, guiding for consolidated revenue to be flat to slightly down in low single digits while maintaining an EBITDA margin target of 18 percent plus or minus 0.5 percentage points and preserving its net cash position.Haberturk

Analyst coverage reflects this focus on profitability: a note from Gedik Yatirim dated September 17, 2026 maintained an Endeks Uzeri Getiri rating on Mavi and kept its 69 Turkish lira price target, implying upside potential of about 83 percent compared with the H1 2026 net cash-backed equity story.Hibya The same report emphasized that while net profit missed expectations by around 18.5 percent because of a 53 percent effective tax rate and inflation accounting impacts, revenue and EBITDA were broadly in line with forecasts, suggesting that the core business remains on track.Hibya

Share buyback and stock reaction on Borsa Istanbul

Investor sentiment on September 17, 2026 was further supported by a share buyback announcement filed with the Turkish Public Disclosure Platform, in which Mavi detailed a program corresponding to 5 percent of its share capital and a total monetary size of 39,725,600 Turkish lira.Yeni Safak Following the H1 2026 presentation and buyback communication on September 17, 2026, Mavi shares rose 8.75 percent intraday to around 37.30 Turkish lira before extending gains into the close, signaling that the market welcomed both the margin trajectory and capital return measures.Investing.com A broader market wrap on the same day noted that Mavi Giyim Sanayi Ve Ticaret AS was the best performer in the BIST 100 index, with the stock climbing 9.97 percent or 3.42 points to close at 37.72 Turkish lira, underlining the strength of the move relative to other Turkish equities.Investing.com

Stock level and trading data

Per Borsa Istanbul price data compiled on September 17, 2026, Mavi Giyim stock traded in a range between 34.70 Turkish lira and 37.20 Turkish lira during the session, before closing at 37.72 Turkish lira, compared with a prior close of 34.30 Turkish lira, amounting to a daily gain of 9.97 percent on the primary exchange.Investing.com The stock’s 52-week range as of September 17, 2026 extends from a low of 33.30 Turkish lira to a high of 50.75 Turkish lira, meaning that the closing price of 37.72 Turkish lira sits about 13.3 percent above the 52-week low and roughly 25.6 percent below the 52-week high, a level that still leaves room for potential re-rating if the earnings and margin story continues to develop positively.Investing.com Market data from a Turkish financial portal on September 17, 2026 showed Mavi trading at 37.14 Turkish lira mid-session, with a daily increase of 8.28 percent and an indicated market capitalization of 23,946,679,840 Turkish lira, illustrating the scale of the apparel group in the BIST 100 universe.Yeni Safak