Finance income and costs

12 Months Ended

Dec. 31, 2025

Information

Finance income and costs

9.Finance income and costs

Recognized in the statement of profit or loss:

	31 December	31 December	31 December
	2025	2024	2023
Interest income	8,711,978	9,869,230	5,892,931
Income from money market fund	3,008,831	—	—
Income from financial assets carried at fair value	202,147	2,233,632	8,702,488
Cash flow hedges – reclassified to profit or loss (*)	—	—	6,212,859
Net fair value gains on derivative financial instruments and interest	—	—	2,162,706
Interest income from financial assets	4,918,494	1,481,711	960,936
Finance income	16,841,450	13,584,573	23,931,920
Net foreign exchange losses	(7,366,352)	(4,912,921)	(26,488,339)
Net interest expenses for financial assets and liabilities measured at amortized cost	(14,123,157)	(14,996,147)	(11,031,337)
Net fair value losses on derivative financial instruments and interest	(774,771)	(1,503,427)	—
Cash flow hedges – reclassified to profit or loss (*)	412,285	(803,095)	—
Other	(212,028)	(69,994)	(147,242)
Finance costs	(22,064,023)	(22,285,584)	(37,666,918)
Monetary gain (loss)	1,598,366	7,657,905	7,213,152
Net finance costs	(3,624,207)	(1,043,106)	(6,521,846)

(*) Reclassification adjustments relating to cash flow hedge are TL 412,285, TL 186,626 and TL 6,960,313 and reclassification adjustments relating to cost of hedging reserve are TL (0), TL (989,721) and TL (747,454) for the years ended 31 December 2025, 2024, 2023 respectively.

Net foreign exchange losses mainly include foreign exchange losses on borrowings, bonds issued and foreign exchange gains on cash and cash equivalents.

Interest income and expense on financial assets and liabilities measured at amortized cost are shown as netted on consolidated statement of profit or loss. The Group has gross interest income on financial assets measured at amortized cost and interest expense on financial liabilities measured at amortized cost amounting to TL 1,946,505, TL (16,069,661), TL 2,176,235, TL (17,172,380), and TL 1,463,282, TL (12,494,618) for the years ended 31 December 2025, 2024 and 2023, respectively.

Foreign exchange gains and losses are shown as netted on consolidated statement of profit or loss. The company has gross foreign exchange gains and losses amounting to TL 28,819,000, TL (36,185,351), TL 14,908,457 TL (19,821,377) and TL 39,850,830, TL (66,339,170) for the years ended 31 December 2025, 2024 and 2023, respectively.