The Balance Sheets of 43 Companies Experiencing Profit Decline in 2025 are Critical!

High Costs Weaken Profits Early in the Year

The third quarter of the year shows a significant weakening in the profit sheets of many companies. **Increasing production costs**, **declining domestic demand**, and **high financing expenses** adversely affect the profitability of businesses, resulting in profit decreases in many financial statements.

Profit Decreases Observed in Large Firms

Particularly, major players in the industry such as **Afyon Cement**, **Akçansa**, **Akfen REIT**, and **Ereğli Iron and Steel** have been at the forefront of this profit shrinkage. Low sales revenues and high expenses have led to double-digit declines in profits for many companies, with reductions reaching up to %90. It is evident that **2025** will be challenging in terms of operational profitability.

Sectoral Solutions and Notable Profit Decreases

Notable profit losses during this period can be listed as follows:

• Afyon Cement (#AFYON): Decreased from 257,698,399 TL in 2024/09 to 71,157,614 TL in 2025/09; net decrease of %72.39.


• Akçansa (#AKCNS): Decreased from 1,654,126,000 TL to 487,432,000 TL; decrease of %70.53.


• Ereğli Iron and Steel (#EREGL): Decreased from 10,787,470,000 TL to 2,384,101,000 TL; drop of %77.9.


• BigChefs (#BIGCH): Decreased from 190,198,601 TL to 20,362,669 TL; decrease of %89.29.


• Vakıf REIT (#VKGYO): Decreased from 3,908,049,480 TL to 626,794,657 TL; drop of %83.96.

Urgent Need for Cost Management

A striking situation is that in many sectors, especially **real estate investment trusts** and **cement companies**, profit losses have occurred at rates exceeding %70. These companies will need to prioritize cost reduction and cash management policies in their 2026 financial statements. Otherwise, achieving sustainable growth may remain a dream.

Conclusion and Expectations

The situation of 43 companies with declining profits serves as a general indicator of the Turkish economy. The decline in the growth rate against cost inflation highlights the necessity for developing new strategies.