Interest-Free Loan Support from Sanifoam to Büyük Ortağa

Cash Management with Interest-Free Loans at Sanifoam

Sanifoam has drawn attention with an interest-free loan of 60 million TL received from its major partner. It is stated that this loan is intended to strengthen the company's working capital. The preference for an interest-free loan indicates that the company is in search of flexibility regarding its short-term liabilities and signals that there is no need for external financing.

Financial Outlook of Oylum Sınai Yatırımlar

Oylum Sınai Yatırımlar reported a 14% decline in its revenue for the first six months of 2025, while its net profit decreased by 81% to 10.9 million TL. On the other hand, gross profit increased by 277% to reach 191.7 million TL, and operating profit rose to 128.8 million TL. However, the contraction in net profit is largely due to financing expenses.

Questions Regarding Dividend Distribution

Oylum Sınai Yatırımlar has never paid dividends in the past, and the 48.7 million TL loss reported for the 2024 financial period decreases the likelihood of dividend distribution. Given the current financial situation and historical losses, it appears that the necessary conditions for making dividend payments are not met. Particularly, despite the capital increases without compensation between 2020-2022, cash dividend payments were not realized. The management is focusing on a strategy to preserve cash structure rather than considering the distribution of current profits.