Management Reports • Aug 8, 2025
Management Reports
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| 2025 Growth Expectation 1 |
2025 Year-End Expectations |
||
|---|---|---|---|
| Gross Profit |
>60% | Return on Equity 3 |
42.5% |
| Other Income, net 2 |
>30% | 3Return on Equity = Net profit for the last 4 quarter / Average equity for the last 5 quarter |
|
| General Administrative Expenses |
<55% | ||
| 1 The development in our Company's revenues is targeted based on the cyclical expansion in capital markets, while inflation expectations for general administrative into account in the calculations. 2 Represents the net amount of other operating income and expenses, including gains/losses on valuation of marketable securities and foreign exchange gains/losses. |
expenses are taken | ||
| Important Disclaimer: The above data does not include the effect of inflation accounting (TAS 29). |
|||
| into account in the calculations. 2 Represents the net amount of other operating income and expenses, including gains/losses on valuation of marketable securities and foreign exchange gains/losses. |
|||
|---|---|---|---|
| The above data does not include the effect of inflation accounting (TAS 29). | |||
| Cash Dividend / Distributable |
Profit Ratios by Operating Year |
||
| 2022 | 2023 | 2024 | 2025 |
| 54.39% | 80.72% | 84.31% | >50% |
| 4 Important Disclaimer: Our Company's dividend distribution proposal for the year 2025 for 2025 in case of a significant change within the framework of CMB legislation, the necessary material event disclosure will be made. Not: Expectations for year-end 2025 |
are finalized, in accordance with the CMB legislation and our Company's Dividend Distribution Policy. The ratio have been revised according to 2025 Q3 results. |
will be resolved by the Board of Directors for the approval of the General Assembly after the year-end shared in the table reflects |
financial statements our expectation for the year 2025, and |

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