Mavi Giyim stock reports weaker profit as buyback begins

Published on 09/30/2026 at 06:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mavi Giyim stock reports a TRY 980.26 million first-half profit as the company launches a TRY 1.0 billion buyback. EBITDA rose 4.00 percent in Q2 2026.

Mavi Giyim, TREMAVI00037, Illustration mit AI erstellt.

Mavi Giyim stock is anchored by a TRY 1.0 billion share buyback after the company reported TRY 980.26 million in first-half 2026 net income. The latest figures show a sharp earnings split: revenue held near prior-year levels, while profitability improved in the second quarter.

Buyback sets the immediate catalyst

CNBCE reported on September 16, 2026, that Mavi Giyim approved a buyback program with a maximum fund allocation of TRY 1.0 billion. The plan covers up to 39.7256 million B-group shares, equal to 5.00 percent of issued capital, and can remain valid for one year.

The capital action follows a weaker first-half earnings comparison. Net income fell 33.00 percent from TRY 1,463.32 million in the prior-year period to TRY 980.26 million for the six months ended July 31, 2026, while revenue declined 1.00 percent year over year.

Margins offset softer revenue

Investing.com reported on September 17, 2026, that second-quarter EBITDA increased 4.00 percent to TRY 2,065.00 million and the EBITDA margin expanded to 16.40 percent. Profit before tax rose 117.00 percent year over year to TRY 505.00 million, showing that cost control and margin protection outweighed the limited top-line growth.

For the first half, EBITDA totaled TRY 4,679.00 million at an 18.10 percent margin, compared with TRY 4,767.00 million and an 18.20 percent margin in the prior-year period. Management also revised its full-year 2026 revenue outlook to a low single-digit decline to flat growth, while keeping EBITDA margin guidance at 18.00 percent plus or minus 0.50 percentage points.

Market value remains below yearly high

Mavi Giyim had a market capitalization of TRY 29.4 billion as of September 29, 2026. Its 52-week range was TRY 29.92 to TRY 50.75, placing the lower end close to the latest quoted market level and leaving a wide gap to the yearly high.

MarketScreener identifies Mavi Giyim under ISIN TREMAVI00037 and ticker MAVI on Borsa Istanbul. The same report gives second-quarter sales of TRY 12,553.05 million, down from TRY 12,599.01 million a year earlier, alongside net income of TRY 263.01 million versus TRY 304.44 million.

Buyback meets an earnings split

The investment case now turns on whether margin gains can compensate for slower revenue growth. The buyback provides a concrete capital-allocation signal, while the 33.00 percent first-half net-income decline and revised revenue outlook highlight the pressure facing domestic consumer demand.