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SUWEN TEKSTİL SANAYİ PAZARLAMA A.Ş.
Interim / Quarterly Report • Aug 14, 2025
9026_rns_2025-08-14_f80b560a-72ce-42b6-b6e5-d0c8f3c99bd0.pdf
Interim / Quarterly Report
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INTERIM ACTIVITY REPORT FOR THE INTERIM PERIOD JANUARY 1 − JUNE 30, 2025
1
SUWEN INTERIM REPORTING PERIOD: 1 JANUARY - 30 JUNE, 2025
SUWEN FILENIN SULTANLARINA BAŞARILAR DILER
#içimizdegüçvar
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vodafone
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'chafone
A MİLLİ KADIN VOLEYBOL TAKIMI RESMI SPONSORU
TABLE OF CONTENTS
| General Information | |
|---|---|
| Company Profile | |
| About Suwen | |
| Milestones | |
| Vision & Mission | |
| Capital and Shareholding Structure | |
| Preferred Shares | |
| Subsidiaries | |
| Board of Directors and Senior Management | |
| Investor Relations Department | |
| General Assembly Meetings | |
| Amendments to the Articles of Association | |
| Operational Developments | |
| Information on Investments | |
| Related Party Transactions | |
| Retail Footprint - Türkiye & Global | |
| Product Portfolio | |
| Financial Highlights | |
| Suwen at a Glance | |
| H1 2025 Financial Highlights | |
| Consolidated Interim Financial Statements |
CONVENIENCE TRANSLATION INTO ENGLISH OF THE AUDITOR'S REVIEW REPORT ON THE BOARD OF DIRECTORS' INTERIM ACTIVITY REPORT ORIGINALLY ISSUED IN TURKISH
REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL INFORMATION
To the General Assembly of Suwen Tekstil Sanayi Pazarlama Anonim Şirketi
Introduction
We have appointed by Suwen Tekstil Sanayi Pazarlama Anonim Sirketi ("Suwen Teksil") and its subsidiary (the "Group") for the review of the financial information included in the interim consolidated financial statements as at and for the interim period ended 30 June 2025. to determine whether such financial information. is consistent with the interim consolidated financial statements that have been subject to a review. The management of the Group is responsible for the preparation of these interim consolidated financial information. Our responsibility is to express whether the interim consolidated financial information included in the interim activity report is consistent with the interim consolidated financial statements and explanatory notes that have been subject to a review and are the subject of the auditor's review report on 14 August 2025.
Scope of Review
We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of interim financial information performed by the independent auditor of the entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures included in the interim activity report. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and the objective of which is to express an opinion on the interim consolidated financial statements. Consequently, a review on the interim financial consolidated information does not provide assurance that the audit firm will be aware of all significant matters which would have been identified in an audit. Accordingly, we do not express an. audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim consolidated financial information included in the interim activity report for the year 2025 does not present fairly, in all material respects, the financial position of the Group and its financial performance and its cash flows.
GÜRELİ YEMİNLİ MALİ MÜŞAVİRLİK VE BAĞIMSIZ DENETİM HİZMETLERİ A.Ş. An Independent Member of BAKER TILLY INTERNATIONAL
www.gureli.com.tr
| Merkez Ofici | Ankara Ofisi | Antalya Ofisi |
|---|---|---|
| Spirite Tower Mastak Man. Saat Sok. | ASO Kule Mattin Bulvari | Feger Mah. 1964 Sox. No: 36 |
| No: 5 Kat: 25-26-28 | No: 193 Kat: 9 | Kemai Erdoğan Apt. Kat: I D. 4 |
| Samer 34485 - Branboll | Kavakiden 06680 - Arlora | Muratpaşa 07230 - Antalya |
| T : 444 9 475 (212) 285 01 50 | 1 +90 (312) 466 84 20 | T +90 (242) 324 30 14. |
| E : +90 (212) 285 03 40 43 | F : +90 (312) 466 84 21 | F : 190 (242) 324 30 15 |
| gymaggirek.com.tr - | [email protected] | [email protected] |
Güreli Yeminli Mali Müşavirlik ve Bağımsız Denetim Hizmetleri A.Ş. "Baker Tilly" isim kullanım hakkına sahiptir.
Bursa Ofisi Oductuk Mah. Akademi Cart. Zeno Is Merkezi Di Blok Kat: 7 D- 31 Nilufer 16265 - Bursa T +90 (224) 451 27 10 F = + 90 (224) 451 27:79 [email protected]
İzmir Öffel Atatürk Cad. Ekim Apt. No: 174/1 Kat: 5 D: B Alsancak 35220 - Imir. T + + 90 (232) 421 21 34 E | +90 (232) 421 21 87 [email protected]
Trakya Ofisi Yayır Mah. Ferman Sok No: 3/7 Kat: 2 Süleymanpaşa 59100 - Tokindağ T | + 90 (282) 261 25 30 F : +90 (282) 282 83 22 gymtraký[email protected]
INFORMATIONS
COMPANY PROFILE
Period of the Report: 01.01.2025 - 30.06.2025
Company Title: Suwen Tekstil Sanayi Pazarlama Anonim Şirketi
Trade Registry Number: 502674
Tax ID: 330 049 9555
Registered Capital Ceiling: 300,000,000 TL
Paid-in Capital: 560,000,000 TL
Head Office Address: Tatlısu Mahallesi Göksu Cad. No: 41/1 Ümraniye/İstanbul
Email: [email protected]
Website: www.suwencompany.com
Suwen was established in 2003 in Istanbul by an experienced team specialized in manufacturing for globally renowned lingerie brands. After its first sales in department stores in 2005, Suwen opened its first branded store in 2007, marking the start of rapid growth. In 2017, Suwen partnered with Taxim Capital ("Intilux S.àr.l"), a private equity fund investing in medium-sized, growth-oriented companies, significantly advancing its corporate governance structure. Suwen was publicly listed in April 2022 and continues trading on Borsa Istanbul.
Operating in Turkey's women's lingerie, homewear, and swimwear (KIEP) segments, Suwen has been developing collections with its own designers: lingerie since inception, homewear since 2012, swimwear since 2014, and hosiery and accessories since 2016. In 2023, Suwen added cosmetics and perfumery products to its portfolio, primarily collaborating with domestic manufacturers and reaching customers domestically and internationally through its robust retail store network and e-commerce channels. Suwen products are distributed through retail stores, e-commerce, and wholesale channels. Retail stores remain the primary channel, while the second-largest channel comprises the company's website, www. suwen.com.tr, launched in 2019, along with third-party e-commerce platforms, playing a crucial role in Suwen's growth strategy. According to independent consultancy Deloitte's 2021 sector report, Suwen ranked as Turkey's fastest-growing women's lingerie retail brand based on store expansion.
As of June 30, 2025, Suwen operates 184 stores across 51 provinces in Turkey, consistently enhancing its brand accessibility. Since entering international markets rapidly in 2022, Suwen expanded globally, opening 2 stores in Cyprus, 7 in Romania, along with 10 international dealerships, reaching a total of 199 stores during 2025. As of June 30, 2025, the Group employs 1,354 personnel (December 31, 2024: 1,147 personnel).
This Activity Report has been prepared in accordance with the Capital Markets Board (SPK) Communiqué No. II-14.1 and covers the interim reporting period from January 1, 2025, to June 30, 2025. Throughout this report, Suwen Tekstil Sanayi Pazarlama A.Ş. and its subsidiary Suwen Lingerie S.R.L. will be collectively referred to as the "Group," the "Company," or "Suwen."
ABOUT SUWEN
MISSION
To respond to our customers' needs and demands without compromising honesty, transparency, and quality; to meet their expectations; and to remain focused on creating value at all times in our relationships with all our stakeholders. With awareness of being a publicly traded company, to transform our business processes with a focus on sustainability; sharing our development areas in this regard transparently with all our investors is among our top priorities.
To continue offering women comfortable and quality products that can be used in every stage of their lives. To strengthen our position as a company that provides our customers with high-quality products that make them feel good and suit their lifestyles. Within this approach, as Türkiye's fastest-growing KİEP brand, and with our continuously expanding overseas operations, to make Suwen a global brand. To be a brand that represents confident Turkish women and is recognized worldwide in its sector.
VISION
CAPITAL AND SHAREHOLDING STRUCTURE
As of June 30, 2025, the Company's paid-in capital is TL 560,000,000, and the shareholding structure is presented in the table below.
In accordance with the Board of Directors' resolution dated December 26, 2024, it was decided to increase the Company's issued capital from TRY 224.000.000 to TRY 560.000.000 by raising TRY 336.000.000 (representing a 150% increase), funded entirely from internal resources, thereby exceeding the registered authorized capital ceiling of TRY 300.000.000 on a one-time exceptional basis.
The issuance document prepared for this capital increase was approved by the Capital Markets Board with decision number 21/635 dated April 10, 2025. Consequently, Article 6 of the Company's Articles of Association, reflecting the new issued capital of TRY 560.000.000 was registered on April 25, 2025, and subsequently announced in the Turkish Trade Registry Gazette numbered 11319 on April 25, 2025
https://www.kap.org.tr/tr/Bildirim/1430277
As of June 30, 2025, the Company's issued capital amounts to TRY 560.000.000 while total shareholders' equity stands at TRY 1.515.256.662 The Company's total equity significantly exceeds its issued capital.
PREFERRED SHARES
| 31.12.2024 | SHARE GROUP | # OF SHARES | SHARE AMOUNT (TL) | SHARE PERCENTAGE (%) |
|---|---|---|---|---|
| Birol Sümer | A | 15.000.000 | 15.000.000 | 2,68 |
| Birol Sümer | B | 43.104.160 | 43.104.160 | 7,70 |
| Ali Bolluk | A | 15.000.000 | 15.000.000 | 2,68 |
| Ali Bolluk | B | 43.104.160 | 43.104.160 | 7,70 |
| Özcan Sümer | A | 15.000.000 | 15.000.000 | 2,68 |
| Özcan Sümer | B | 43.104.160 | 43.104.160 | 7,70 |
| Çiğdem Ferda Arslan | A | 5.000.000 | 5.000.000 | 0,89 |
| Çiğdem Ferda Arslan | B | 15.000.020 | 15.000.020 | 2,68 |
| Publicly Traded Shares | B | 365.687.500 | 365.687.500 | 65,30 |
| 560.000.000 | 560.000.000 | 100,00 |
| SHAREHOLDER NAME/SURNAME/TITLE |
SHARE IN CAPITAL (TL) |
PERCENTAGE OF CAPITAL (%) |
|---|---|---|
| Birol Sümer | 58.104.160 | 10,38 |
| Ali Bolluk | 58.104.160 | 10,38 |
| Özcan Sümer | 58.104.160 | 10,38 |
| Çiğdem Ferda Arslan | 20.000.020 | 3,57 |
| Publicly Traded Shares | 365.687.500 | 65,30 |
| TOTAL | 560.000.000 | 100,00 |
The Company's shares are classified into two groups: Group (A) and Group (B). According to the Articles of Association, Group (A) shares, representing 8.93% of the total capital, possess certain privileges.
- Under Article 6 of the Articles of Association, Group (A) shareholders have privileges in nominating candidates to the Board of Directors and voting rights in the General Assembly. •
- Under Article 7, three members of the Board of Directors are elected by the General Assembly from among candidates proposed by Group (A) shareholders. •
- Under Article 9, Group (A) shares carry voting privileges, with each share valued at TRY 1 granting its holder five votes at General Assembly meetings. •
- Furthermore, Article 9 specifies that, in addition to maintaining the quorums required by the Capital Markets Law and Turkish Commercial Code, decisions regarding the following critical matters ("Matters Requiring a Qualified General Assembly Decision Quorum") require affirmative votes representing at least 75% of the capital held by Group (A) shareholders: •
- Amendments to the Articles of Association, except for capital increases made within the authorized capital system. •
- ones. •
- Capital increases (excluding increases within the authorized capital system), liquidation, dissolution, termination, capital reduction, or changes in the Company's legal structure. •
- Filing for bankruptcy, concordat, or financial restructuring under Article 309/m of the Enforcement and Bankruptcy Law No. 2004. •
- Transfer of all or part of the Company's business operations. •
- voting rights, or altering the structure of the Company's Board of Directors. •
Changing the Company's scope of activities, entering new business fields, or exiting existing
Changing the privileges of Group (A) shareholders regarding nomination of Board members,
SUBSIDIARIES
To manage its retail and e-commerce operations directly in Romania, the Company established a subsidiary named Suwen Lingerie S.R.L. ("Subsidiary"), registered on 3 June 2019 at Voluntari City, 1/VI Pipera Blvd. Hyperion Towers Building, Tower 2, Ilfov County, Romania.
The subsidiary has a paid-in capital of RON 2.530.000, fully owned (100%) by the Company. Currently, Suwen operates 7 stores in Romania through this subsidiary.
There is no cross-shareholding between the Company and its subsidiary.
BOARD COMMITTEES
BOARD OF DIRECTORS
Audit Committee
The Audit Committee carries out its activities in compliance with Capital Markets regulations and in accordance with the Corporate Governance Principles defined by the Capital Markets Board (CMB). The Committee operates within its defined authority and responsibilities, providing recommendations to the Board of Directors. However, the final decision-making authority rests with the Board of Directors.
The Committee meets at least four times a year, and the meeting outcomes are documented and reported to the Board of Directors.
The Company's Board of Directors consists of 6 members.
| Name - Surname | Position |
|---|---|
| Birol Sümer | Chairman of the Board |
| Ali Bolluk | Vice Chairman of the Board - General Manager |
| Özcan Sümer (*) | Board Member |
| Çiğdem Ferda Arslan | Board Member - Deputy General Manager, R&D and Production |
| Müge Tuna | Independent Board Member |
| Mehmet Tarkan Ander | Independent Board Member |
(*) At the Board of Directors meeting dated 2 December 2024, Özcan Sümer was appointed to fill the Board membership vacancy resulting from Selahattin Zoralioğlu's resignation, subject to approval at the next General Assembly. His appointment was subsequently approved at the Company's 2024 Annual General Assembly meeting held on 10 April 2025.
Early Detection of Risk Committee
The Committee's purpose is to identify, define, prioritize (based on their potential impact and likelihood), monitor, and review strategic, financial, and operational risks and opportunities that may affect the Company's operations. Additionally, the Committee provides recommendations and guidance to the Board of Directors on managing and reporting these risks and opportunities in alignment with the Company's overall risk profile, ensuring they are appropriately considered in decision-making processes.
The Committee meets six times a year, and the meeting outcomes are recorded and reported to the Board of Directors.
EARLY DETECTION OF RISK COMMITTEE
Corporate Governance Committee
The Corporate Governance Committee evaluates the implementation of corporate governance principles within the Company, identifies reasons for any non-compliance, and detects potential conflicts of interest arising from incomplete adherence to these principles. It provides recommendations to the Board of Directors aimed at improving corporate governance practices and oversees the activities of the Investor Relations Department. The Committee also fulfills the responsibilities of the Nomination and Remuneration Committees, as stipulated by Capital Markets Board regulations.
In principle, the Committee meets at least once annually and convenes additional meetings as necessary. Decisions taken during these meetings are documented, signed by Committee members, and archived.
(*) Appointed as a member of the Committee on December 2, 2024
SENIOR EXECUTIVES
INVESTOR RELATIONS DEPARTMENT
The Company's senior executives are presented in the table below.
Information regarding the Company's Investor Relations Department, which is responsible for managing relations with shareholders, is provided below.
Contact: [email protected]
Total benefits and compensation provided to the Group's senior executives for the accounting period from 1 January to 30 June 2025 amounted to TRY 21.206.107 (1 January – 30 June 2024: TRY 19.338.311).
The Investor Relations Department carries out activities related to the exercise of shareholders' rights, the public disclosure of material events, answering shareholders' inquiries about the Company and the exercise of shareholder rights, General Assembly (EGKS), capital increases, dividend distribution, amendments to the articles of association, and the management of the Public Disclosure Platform (KAP) and Central Registry System (MKK), as well as the fulfillment of Corporate Governance Principles. In line with these activities, internal administrative arrangements and practices have been implemented within the Company to ensure compliance with these principles. Shareholders are provided with timely, complete, and accurate information.
(*) Assigned as the Manager of the Investor Relations Department on December 2, 2024.
Level 3 License No. Corporate Governance Rating Specialist License No. 200087 700099
Investor Relations Department Officer Şeyma Kalafat Accounting Supervisor
Serpil Yaşar (*)
Manager
(*) Fatih Koç, who served as Deputy General Manager responsible for Finance, resigned from his position on 3 February 2025. Mehmet Melih Özkan, previously the Director of Budgeting, Reporting, and Financial Control, was appointed as Deputy General Manager responsible for Finance (CFO) effective from 16 April 2025.
GENERAL ASSEMBLY MEETINGS
ARTICLES OF ASSOCIATION AMENDMENTS
In line with the Board of Directors' resolution dated 26 December 2024, the Company's issued capital was increased from TRY 224.000.000 to TRY 560.000.000 through a fully internalresources-funded increase of TRY 336.000.000 (representing a 150% increase), thereby exceeding the registered authorized capital ceiling of TRY 300.000.000 on a one-time exceptional basis.
The issuance document prepared for this capital increase was approved by the Capital Markets Board with decision number 21/635 dated 10 April 2025. Accordingly, the updated version of Article 6 of the Company's Articles of Association reflecting the new issued capital amount of TRY 560.000.000 was registered on 25 April 2025 and published in the Turkish Trade Registry Gazette numbered 11319 on April 25, 2025.
The current Articles of Association can be accessed at: https://www.kap.org.tr/tr/Bildirim/1430277
The General Assembly convenes in ordinary and extraordinary sessions. Invitations to these meetings comply with provisions of the Turkish Commercial Code (TCC) and Capital Markets Board (CMB) regulations. The operational procedures of the General Assembly meetings are defined in the "Internal Directive on the Working Principles and Procedures of the General Assembly," ensuring compliance with TCC, capital markets legislation, the Company's Articles of Association, and the said directive.
Shareholders may participate in these meetings electronically, in accordance with Article 1527 of the TCC. Pursuant to the relevant provisions of the Articles of Association, shareholders and their representatives are enabled to exercise their rights through the established electronic system.
Announcements regarding General Assembly meetings are made in compliance with the TCC, Capital Markets Law, capital markets legislation, and other relevant regulations. Such announcements are published at least three weeks prior to the meeting date (excluding the announcement and meeting dates) on the Company's website, the Public Disclosure Platform (KAP), locations determined by the CMB, and the Turkish Trade Registry Gazette. Alongside the General Assembly meeting announcements, mandatory disclosures and other important notices stipulated by corporate governance regulations of the CMB are prominently communicated to shareholders through the Company's website.
The Ordinary General Assembly Meeting concerning the Company's fiscal year 2024 was held on 10 April 2025. The meeting minutes can be accessed at the following links: https://www.kap.org.tr/tr/Bildirim/1423377 and https://suwencompany.com/10nisan2025/
DEVELOPMENTS
INFORMATION ON INVESTMENTS
The Company invests in the domestic market with the aim of expanding its business operations and increasing its commercial volume.
The primary component of its capital expenditures is the expansion of retail operations through the opening of new stores.
As of the reporting period, the breakdown of the Company's total capital expenditures is presented in the table below.
Information on the Control System and Internal Audit Activities
Our Company's internal control system operates under established procedures and is reviewed annually.
Lawsuits Filed Against the Company:
There are no lawsuits filed against the Company that could significantly affect its financial position or operations. As of June 30, 2025, the total amount of provisions for compensation claims, severance, notice, and wage claims filed against the Company is TL 1.058.683 (December 31, 2024: TL 677.990)
Explanations Regarding Special Audits and Public Audits
The Company is subject to full certification (tam tasdik) and independent audits. Between January 1, 2025 and June 30, 2025, there was no special audit or public audit concerning the Company's operations.
Administrative Fines and Judicial Sanctions
No administrative or judicial sanctions were imposed on the Company during the activity report period.
Donations and Aid
For 2025, the maximum amount for donations has been set at TRY 4,000,000, as approved by the General Assembly. In the reporting period, the Company made donations and charitable contributions totaling TRY 1,691,904. In comparison, the total for the period 01.01 – 30.06.2024 was TRY 595,103.
Rights and Benefits Provided to Personnel and Workers, Collective Bargaining Practices
All employees of our Company are subject to Labor Law No. 4857, and during the period of January 1, 2025 – June 30, 2025, the Company employed a total of 1.354 staff. As of June 30, 2025, the Company's severance pay liability stands at TL 7.728.750. (31.12.2024: 7.212.476 TL)
No union based contractual agreement is presently in effect.
Information on Legislative Changes That May Significantly
Affect Company Activities
There is no legislative change that would significantly affect the Company's activities.
Company's Operations
Suwen demonstrates its genuine commitment to gender equality through a 55% female manager ratio and continues to support women's employment with 184 stores across 51 provinces. The official sponsorship we provide to the A National Women's Volleyball Team for the 2023-2026 period reflects our sincere embrace of women's strength and success. Our projects carried out with the Women's Cancer Association and our initiatives focusing on girls' education underscore that we view contributing to society as not merely a responsibility but an indispensable value. This approach fosters a strong sense of trust among our employees, customers, and investors, while also contributing to our sustainable growth objectives.
No such sanctions exist.
At present, we do not have any active projects under our Research and Development efforts.
Explanations on Administrative or Judicial Sanctions Applied to the Company and Members of Its Management Body Due to Noncompliance with Legislative Provisions
Research and Development Activities
RELATED PARTY TRANSACTIONS
| TOTAL | 16.006.920 | 71.429.221 | |
|---|---|---|---|
| Netcad Yazılım A.Ş. | - | 8.655 | |
| Elmas Çamaşır İth. İhr. Tic. A.Ş. | - | 15.196.913 | |
| Aseyya Tekstil Sermin Sümer | 7.221.890 | 8.803.829 | |
| Eko Tekstil San. ve Tic. A.Ş. | 8.785.030 | 47.419.824 | |
| TRADE PAYABLES (TL) | 30.06.2025 | 31.12.2024 | |
| TOTAL | 146.733.192 | 55.746.943 | |
| Eko Tekstil San. ve Tic A.Ş. | 146.733.192 | 55.746.943 | |
| TRADE RECEIVABLES (TL) | 30.06.2025 | 31.12.2024 |
| SALES | Goods (TL) |
Financial Transactions (TL) |
Others (TL) |
Services (TL) |
Total (TL) |
|---|---|---|---|---|---|
| Elmas Çamaşır İth. İhr. Tic. A.Ş. | - | - | 1.282.696 | - | 1.282.696 |
| Eko Tekstil San. ve Tic. A.Ş. | - | - | 224.429 | - | 224.429 |
| TOTAL | - | - | 1.507.125 | - | 1.507.125 |
| PURCHASES | Goods (TL) |
Financial Transactions (TL) |
Others (TL) |
Services (TL) |
Total (TL) |
|---|---|---|---|---|---|
| Eko Tekstil San. ve Tic. A.Ş. | 755.330.443 | 1.982.296 | 11.939 | - | 757.324.678 |
| Elmas Çamaşır İth. İhr. Tic. A.Ş. | 182.158.467 | - | - | - | 182.158.467 |
| Latte Tekstil Sanayi ve Tic. A.Ş. | 2.236.513 | - | - | - | 2.236.513 |
| Moni Tekstil Sanayi Tic. A.Ş. | 126.704.132 | - | - | - | 126.704.132 |
| Aseyya Tekstil Sermin Sümer | 55.102.488 | - | - | - | 55.102.488 |
| Livadi Tekstil İth. İhr. Tic. A.Ş. | 70.501.220 | - | - | - | 70.501.220 |
| Netcad Yazılım A.Ş. | - | - | - | 298.722 | 298.722 |
| TOTAL | 1.192.033.263 | 1.982.296 | 11.939 | 298.722 | 1.194.326.220 |
r
| PURCHASES | Goods (TL) |
Financial Transactions (TL) |
Others (TL) |
Services (TL) |
Total (TL) |
|---|---|---|---|---|---|
| Eko Tekstil San. ve Tic. A.Ş. | 720.653.830 | 2.526.887 | 25.524 | - | 723.206.241 |
| Elmas Çamaşır İth. İhr. Tic. A.Ş. | 116.526.439 | - | - | - | 116.526.439 |
| Aseyya Tekstil Sermin Sümer | 45.070.705 | - | - | - | 45.070.705 |
| Livadi Tekstil İth. İhr. Tic. A.Ş. | 107.311.891 | - | - | - | 107.311.891 |
| Netcad Yazılım A.Ş. | - | - | - | 77.145 | 77.145 |
| TOTAL | 989.562.865 | 2.526.887 | 25.524 | 77.145 | 992.192.421 |
| SALES | Goods (TL) |
Financial Transactions (TL) |
Others (TL) |
Services (TL) |
Total (TL) |
| Eko Tekstil San. ve Tic. A.Ş. | 57.462.810 | - | 676.460 | - | 58.139.270 |
| Elmas Çamaşır İth. İhr. Tic. A.Ş. | 159.543 | - | - | - | 159.543 |
| Livadi Tekstil İth. İhr. Tic. A.Ş. | 289.211 | - | - | - | 289.211 |
| Aseyya Tekstil Sermin Sümer | 668.271 | - | - | - | 668.271 |
01.01. - 30.06.2025
01.01. - 30.06.2024
In the first six months of 2025, five new stores were opened in Türkiye, and operations at one store were discontinued. Within the international franchise network, there was one opening and four closures.
TÜRKİYE RETAIL FOOTPRINT
GLOBAL RETAIL FOOTPRINT
As of June 30, 2025, the Company's total number of stores in Turkey is 184, with a total sales area of 22,982 m2 (June 30, 2024: 21.200 m2).
As of June 30, 2025, the Company's total number of stores worldwide is 199, with a total sales area of 24,718 m2 (June 30, 2024: 22,259 m2).
UNDERWEAR 47,9% 38,1%
HOMEWEAR
Bra, briefs, undershirt, and corset
Pajama sets, nightgowns, and robes
Bikini, swimsuit, pareo, and beach
HOSIERY
0,7% ACCESSORIES
Pantyhose / socks and tights
0,2% COSMETICS
Body mist, soap, lipoil, cologne
Bra accessories
FINANCIAL HIGHLIGHTS
SUWEN AT A GLANCE H1 2025 FINANCIAL HIGHLIGHTS
INT
Suwen's sales revenue for the first six months of 2025 increased by 8.3% compared to the same period in 2024, reaching TRY 2,407,559,386. Operations were carried out with a gross profit margin of 52.5% and an EBITDA margin of 17.9%. During the reporting period, the Company achieved a net profit of TRY 65,310,499, corresponding to a net profit margin of 2.7%.
H1 2024 H1 2025
H1 2025 FINANCIAL HIGHLIGHTS
TMS 29 Inflation Accounting Applied
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF JUNE 30, 2025 AND DECEMBER 31, 2024
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS FOR THE INTERIM PERIODS JANUARY 1 - JUNE 30, 2025 AND 2024
| TL |
|---|
| Current Assets |
| Non-Current Assets |
| TOTAL ASSETS |
| Current Liabilities Non-Current Liabilities Equity |
| TOTAL LIABILITIES AND EQUITY |
| TL | |
|---|---|
| Revenue | |
| Gross Profit | |
| Operating Profit | |
| Operating Profit Before Financial Expenses | |
| Profit Before Tax from Continuing Operations | |
1.264.162.213 2.407.559.386 167.651.093 171.280.635 129.843.303 1.259.936.424 2.223.862.289 270.801.802 277.113.964 169.001.017 30.06.2025 30.06.2024 65.310.499 126.679.279
NET PROFIT FOR THE PERIOD
30.06.2025
3.316.178.009
3.316.178.009
1.840.984.717 1.475.193.292
1.195.109.582 605.811.765 1.515.256.662
31.12.2024
3.075.058.194
3.075.058.194
1.898.921.842 1.176.136.352
1.183.464.980 424.716.474 1.466.876.740
Events After the Balance Sheet Date
Share Repurchase Program.
At its meeting on July 8, 2025, the Company's Board of Directors resolved—pursuant to the Capital Markets Board of Turkey's principle decisions dated March 19, 2025 (No. 16/531) and March 23, 2025 (No. 18/574), and the Communiqué on Share Buy-Backs No. II-22.1—to initiate a share buy-back program. The decision was taken on the grounds that the prices of the Company's shares on Borsa İstanbul do not reflect the Company's underlying operating performance and with a view to supporting sounder price formation in the market and protecting shareholders' interests. Under the program, up to TRY 300,000,000 will be allocated from the Company's equity; the maximum number of shares to be repurchased has been set at 13,760,000; and the program term will be up to one year from the date of the resolution.
