AI Terminal
GEN İLAÇ VE SAĞLIK ÜRÜNLERİ SANAYİ VE TİCARET A.Ş.
Quarterly Report • Nov 10, 2025
8790_rns_2025-11-10_4575ee92-64b7-4fa5-b562-66a3cf01e1ac.pdf
Quarterly Report
Open in ViewerOpens in native device viewer
GEN İLAÇ VE SAĞLIK ÜRÜNLERİ SANAYİ TİCARET ANONİM ŞİRKETİ ACTIVITY REPORT FOR THE PERIOD BETWEEN
01.01.2025 – 30.09.2025
1. GENERAL INFORMATION
Activity Period: 01.01.2025 – 30.09.2025
Commercial Title: Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş.
Registration Number: Ankara Trade Registry – 131040
Tax Office: Ankara Corporate Tax Office
Tax Number: 391 031 0236
Mersis Number: 0391031023600021
Place of Incorporation: Gen İlaç ve Sağlık Ürünleri Sanayi Ticaret A.Ş. ("GEN", "Company"
veya "Gen İlac") is established in Ankara, Türkiye.
Head Office: The Company's address and main activity center is Mustafa Kemal Mahallesi
- Sokak No: 3-5 Çankaya / Ankara.
Production Facility: ASO 2. And 3. Organize Sanayi Bolgesi Alci OSB Mah. 2013. Cad. No:
24 Sincan/Ankara.
In addition, the Company has 9 offices in Ankara, İzmir and Istanbul in Türkiye and Germany, Azerbaijan, Kazakhstan, Uzbekistan, Russia and Georgia abroad.
Contact Info: 0312 219 62 19 (Center) / 0312 945 14 36 (Production Facility)
Corporate Web Site: https://www.genilac.com.tr/
Independent Audit Company: Eren Bağımsız Denetim A.Ş.: Member of Grant Thornton.
2. AREA OF OPERATION
The Company's main operation area is production of all kinds of human medicines and health products, trading, import and export of these products. Gen İlaç operates with its medicines especially in the field of treatment of rare diseases and in the elimination of dysfunctions due to these diseases.
3. CAPITAL AND PARTNERSHIP STRUCTURE
The Company accepted authorized capital system according to code numbered 6362 and transmitted to the authorized capital system with the permission of Capital Markets Board of Türkiye dated 08 April 2021 and numbered 19/595. Between 2024-2028 Our Company's authorized capital limit is TL 5.000.000.000 and issued capital is TL 300.000.000. TL 55.000.000 portion of the total capital consist of A group shares and remaining TL 245.000.000 portion consist of B group shares.
In accordance with the Article 7 of our company's Articles of Association A group shareholders have priviledge to promote board member. Also, according to the Article 10 of our company's Articles of Association each A group share has five (5) voting right in general assembly.
Company's capital has been registered and announced on Trade Registry Gazette dated 14 September 2021 and numbered 10408
The partnership structure of the company as of September 30, 2025 is presented below.
| Partner's Name | Capital Amount (TL) |
Ratio (%) |
|---|---|---|
| Abidin Gülmüş | 217.160.000 | 72,39 |
| Semra Gülmüş | 3.750.000 | 1,25 |
| Şükrü Türkmen | 2.656.000 | 0,89 |
| Ömer Dinçer | 2.656.000 | 0,89 |
| Absel Emlak İnşaat Limited Şirketi |
1.250.000 | 0,42 |
| Public | 72.528.000 | 24,16 |
| Total | 300.000.000 | 100,00 |
4. BOARD OF DIRECTORS AND SENIOR MANAGEMENT
| Yönetim Kurulu Üyesi | Ünvanı / Görevi |
|---|---|
| Abidin GÜLMÜŞ | Chairman of the Board of Directors |
| Şükrü TÜRKMEN | Vice Chairman of the Board of Directors |
| Ömer DİNÇER | Vice Chairman of the Board of Directors |
| Tolga KIZILTAN | Board of Directors Member (Independent) |
| Bernay ÖZAVCI | Board of Directors Member (Independent) |
| Üst Yönetim Üyesi | Ünvanı / Görevi |
|---|---|
| Abidin GÜLMÜŞ | Chairman of the Board of Directors / General Manager |
| Şükrü TÜRKMEN | Vice Chairman of the Board of Directors |
| Ömer DİNÇER | Vice Chairman of the Board of Directors |
| Tolga KIZILTAN | Board of Directors Member (Independent) |
| Bernay ÖZAVCI | Board of Directors Member (Independent) |
| Selçuk Deniz KARAGÜLLE | Vice President (Global Sales-Marketing) |
| Yağmur Selin GÜLMÜŞ KOLAY |
Vice President (Strategy & Corporate Development |
| Nadir ULU | Vice President (R&D – Clinical Operations) |
| Eda GÜLMÜŞ DEMİR | Vice President (Foreign Trade) |
5. SUBSIDIARIES AND AFFILIATED COMPANIES
Affliated Companies ("Group")
GEN forms a group together with its affiliated companies, detailed below.
| Affiliated Companies | Activity Location |
Main Activity |
|---|---|---|
| Genject Sağlık Ürünleri Kimya Sanayi Ticaret A.Ş. | Türkiye | Syringa Production and Sales |
| Elixir İlaç Araştırma Geliştirme A.Ş. | Türkiye | Human Drugs Research and Development |
| Gen Ilac Germany GMBH | Germany | Drug Marketting and Sales |
| Gen Pharma Caucasus Manufacturing Operations MMC | Azerbaijan | Pharmaceutical Production |
Genject Sağlık Ürünleri Kimya Sanayi Ticaret A.Ş. ("Genject") was founded in 2010 and Gen İlaç ve Sağlık Ürünleri A.Ş. has 96,40% shares in Genject. Genject manufactures its own brand Genject disposable hypodermic syringes in Türkiye in accordance with CE standards.
Elixir İlaç Araştırma Geliştirme A.Ş. ("Elixir") was founded in 2014 and Gen İlaç ve Sağlık Ürünleri A.Ş. has 95,00% shares in Elixir. Elixir conducts R&D studies on the development of new and generic medicine products and production processes in accordance with the standards of the «European Medicine Agency (EMA)» and the «United States Food and Drug Administration (USFDA)».
Gen Ilac Germany GMBH ("Gen Germany") was founded in 2021 and deals with sales and marketting activities of drugs produced by GEN in Europe.
Gen Pharma Caucasus Manufacturing Operations MMC ("GEN Caucasus") was established in 2023, and GEN is a 66.00% partner. GEN Caucasus was established with the aim of establishing a pharmaceutical manufacturing facility in Azerbaijan and selling and marketing the products to be produced in this facility. Currently, construction work of the manufacturing facility continues.
| Subsidiaries | Activity Location |
Main Acivity | Share Ratio (%) |
|---|---|---|---|
| Stimusil Inc. | USA | Medical Device Development |
19,30 |
| RS Araştırma Eğitim Danışmanlık İlaç Sanayi ve Ticaret A.Ş. |
Türkiye | Drug Research and Development | 11,70 |
| Galventa AG | Switzerland | Drug and Food Supplement Research and Development |
4,55 |
| Neo Auvra Dijital Sağlık ve Biyonik Teknolojileri ve Hizmetleri Sanayi ve Ticaret A.Ş. |
Türkiye | Biotechnological Medical Device Research and Development |
35,15 |
GEN İLAÇ VE SAĞLIK ÜRÜNLERİ SANAYİ TİCARET ANONİM ŞİRKETİ AND AFFILIATED COMPANIES
ACTIVITY REPORT FOR THE PERIOD BETWEEN JANUARY 1 – SEPTEMBER 30, 2025
| Invios Holding AG | Austria | Precision Cancer Immunotherapies |
0,98 |
|---|---|---|---|
| H2O Bilişim Yazılım Elektronik Sağlık Hizmetleri Sanayi ve Türk Ticaret A.Ş. |
Türkiye | Digital Health Technologies | 10,00 |
| Jaguar Health Inc. | USA | Drug Research and Development | 6,70 |
6. MAIN FINANCIAL INDICATORS
As of 30.09.2025 according to the financial statement prepared compliant with TAS 29 total revenue of the company is TL 14.358.528.399
Distribution of Sales
The distribution of GEN's pharmaceutical sales for the first three quarters of 2024 and 2025 is presented comparatively below.
| Sales (TL)* |
Q1/2024 | Q2/2024 | Q3/2024 | Q1/2025 | Q2/2025 | Q3/2025 |
|---|---|---|---|---|---|---|
| NPP Drugs | 1.292.821.895 | 1.279.719.726 | 2.149.050.223 | 1.411.000.702 | 1.741.822.105 | 3.234.272.092 |
| Imported Registered Drugs |
1.346.670.390 | 1.525.919.496 | 1.257.046.817 | 1.852.395.497 | 2.059.955.550 | 1.499.613.187 |
| Production Registered Drugs |
107.524.944 | 81.710.636 | 117.528.349 | 162.960.118 | 117.322.822 | 210.246.998 |
| Exported Drugs | 208.808.900 | 127.388.711 | 92.363.245 | 290.797.246 | 226.329.450 | 184.230.354 |
| Total Sales | 2.955.826.129 | 3.014.738.569 | 3.615.988.634 | 3.717.153.563 | 4.145.429.927 | 5.128.362.631 |
(*These values are calculated based on the invoice amounts for the products sold by the company, and TAS 29 Financial Reporting Standards in High Inflation Economies has not been applied.)
| Sales (Boxes) |
Q1/2024 | Q2/2024 | Q3/2024 | Q1/2025 | Q2/2025 | Q3/2025 |
|---|---|---|---|---|---|---|
| NPP Drugs | 41.304 | 32.807 | 57.081 | 28.130 | 39.953 | 55.209 |
| Imported Registered Drugs |
131.777 | 174.710 | 160.211 | 182.347 | 163.727 | 220.905 |
| Production Registered Drugs |
424.522 | 124.927 | 221.267 | 306.924 | 313.629 | 483.542 |
| Exported Drugs | 945.231 | 409.874 | 535.132 | 798.421 | 1.026.606 | 634.400 |
| Total Sales |
1.542.834 | 742.318 | 973.691 | 1.315.822 | 1.543.915 | 1.394.056 |
A comparative chart of sales for the first nine-month periods of 2023, 2024, and 2025 is presented below.
(*These values are calculated based on the invoice amounts for the products sold by the company, and TAS 29 Financial Reporting Standards in High Inflation Economies has not been applied.)
Distribution of Sales
The rate distribution of sales by product group as of September 30, 2025 has presented below.
(*These values are calculated based on the invoice amounts for the products sold by the company, and TAS 29 Financial Reporting Standards in High Inflation Economies has not been applied.)
According to the Group's consolidated financial statements, selected financial performance indicators are presented below.
Income Statement*
In accordance with the Group's consolidated financial statements, selected financial performance indicators are presented below.
| Profit & Margins |
30.09.2025 | 30.09.2024 | |
|---|---|---|---|
| Gross Profit | 2.940.397.615 | 2.841.264.253 | |
| Gross Profit Margin | 20,48% | 19,60% | |
| Operating Prtofit | 1.513.926.582 | 1.300.443.188 | |
| Operating Profit Margin | 10,54% | 8,97% | |
| EBITDA | 1.587.345.524 | 1.662.951.471 | |
| EBITDA Margin | 11,06% | 11,47% | |
| Net Profit | 657.465.917 | 135.450.163 | |
| Net Profit Margin | 4,58% | 0,93% |
| Profit & Margins |
Q3/2025 | Q3/2024 |
|---|---|---|
| Gross Profit | 1.035.851.954 | 983.758.188 |
| Gross Profit Margin | 19,36% | 19,54% |
| Operating Prtofit | 531.577.764 | 471.349.173 |
| Operating Profit Margin | 9,93% | 9,36% |
| Net Profit | 213.379.338 | 145.171.463 |
| Net Profit Margin | 3,99% | 2,88% |
*TAS 29 Financial Reporting Standard in Economies with High Inflation has been applied to these values.
Balance Sheet*
| Assets & Liabilities |
31.12.2024 | 30.09.2025 | ||
|---|---|---|---|---|
| Total Current Assets | 7.269.587.770 | 8.566.827.249 | ||
| Total Non-Current Assets | 8.299.806.642 | 8.714.824.266 | ||
| Total Assets | 15.569.394.412 | 17.281.651.515 | ||
| Current Liabilities | 5.260.982.411 | 6.349.026.623 | ||
| Non-Current Liabilities | 1.142.434.039 | 1.173.517.133 | ||
| Total Liabilities | 6.403.416.450 | 7.522.543.756 | ||
| Equity | 9.165.977.962 | 9.759.107.759 | ||
| Current Ratio | 1,38 | 1,35 |
(TAS 29 Financial Reporting Standard in Economies with High Inflation has been applied to these values.)
7. PROMINENT ACTIVITIES
Details about prominent activities of the Company between January 01, 2025 and September 30, 2025 has presented below.
Research and Development Activities
The R&D expenditures of our company was recorded with a total of TL 131.891.589,48 between the 01.01.2025 and 30.09.2025.
At GEN R&D Center, our studies continued with a specialized team of 29 people (2 technicians and 25 researchers), 70% of whom are pursuing postgraduate education. This competent team plays an active role in the processes of developing innovative and generic drugs, simultaneously collaborating with academia.
According to the 2024 results of the Turkishtime R&D 500 Research, one of Turkey's most comprehensive R&D surveys, our company ranked 74th among Turkey's top 500 companies based on R&D expenditure and 6th in the pharmaceutical sector ranking. Furthermore, it has once again proven our strength in this field by ranking 28th in terms of the number of ongoing projects in our R&D Center.
During the relevant period, studies were carried out with a total of 34 projects, including 30 R&D Center projects and 4 projects under the Technology-Oriented Industry Move Program. Among these projects, analytical method and process validation activities at the manufacturing site were successfully completed for two of them.
In the third quarter of the year, the commission evaluations for marketing authorization processes for 11 of our projects are currently ongoing at the Turkish Medicines and Medical Devices Agency. Preparations for the marketing authorization submissions for two new R&D projects are also underway.
In the same period, the R&D studies were completed to support the registration processes of a total of 10 products intended for international markets — including 5 products for the Americas and CIS regions, and 5 products for the Europe, MENA, and Asia-Pacific regions.
R&D activities for 14 new projects which are planned to be manufactured at our facility in Azerbaijan are ongoing.
SUL-238 Alzheimer's Disease Treatment Project
In line with our company's innovation and global growth strategies, Phase 1 clinical trials, where the first-in-class innovative investigational drug SUL-238 was used in humans for the first time, are continuing. As is known, our company, GEN, holds the rights for the research, development, production, and commercialization of SUL-238 in preclinical and clinical phases for the treatment of Alzheimer's Disease and other neurodegenerative diseases. In the Phase 1 clinical trial conducted on healthy volunteers, the first dosing of SUL-238 was administered on February 19, 2024, and the last dosing of the last volunteer in this trial was administered on June 02, 2025. The formulation and R&D stability studies of the investigational products used in this Phase 1 clinical trial were carried out in our GEN R&D Laboratories, and the clinical trial products were manufactured at our GEN Production Facility. The positive initial results of this Phase 1 clinical trial were presented at the Alzheimer's Association International Conference® 2025, held in Toronto (Canada) on July 28, 2025. The multiple-dose results of the Phase 1 clinical trial will be announced at the 18th Clinical Trials on Alzheimer's Disease (CTAD) 2025 International Meeting, which will be held in San Diego (USA) between December 1-4, 2025. Following the successful completion of this stage, it is expected that SUL-238 will show improvement in motor and cognitive functions by reversing/preventing the progression of impaired mitochondrial functions in the brain cells of individuals with neurodegenerative diseases in Phase 2 and Phase 3 clinical studies.
GN-037 Topical Cream / "Safe and Effective Drug Formulation for the Treatment of Psoriasis"
The formulation of GN-037 topical cream, an innovative investigational drug developed by GEN R&D laboratories for the treatment of mild to moderate plaque psoriasis, has been completed. The semi-solid production line at our GEN Manufacturing Facility, established for the production of this product, has been successfully installed and commissioned. The preparation processes for the production of the product at our GEN Production Facility have also been completed.
The PCT patent application evaluation process, filed under the invention title "Safe and Effective Drug Formulation Used in the Treatment of Psoriasis," is ongoing.
TÜBİTAK & Technology-Oriented Industry Move Program Projects
The R&D activities of our projects, initiated on April 1, 2023, under the Technology-Oriented Industry Move Program, are progressing as planned. The presentations of 2025-1 term have been completed. Technical and financial reports for the relevant period were prepared and submitted to TÜBİTAK. Following the monitor referee visits, the period was successfully finalized for all our projects. Through these projects, approximately 5.9 million TL in government support has been received to date
As a reflection of our strong vision in R&D, our two new projects to be developed, listed below, were entitled to receive support on 11.08.2025 within the scope of the "Technology-Oriented Industry Move Program- Emerging Innovative Technologies Call" conducted by the Turkey Ministry of Industry and Technology:
• Oral Treatment Product Containing Methoxsalen for Use in Psoriasis Treatment:
With the development of an oral treatment containing methoxsalen, it is aimed to contribute to the quality of life of psoriasis patients and to fill an important treatment gap in Turkey.
• Development of a New Active Ingredient (SUL-238) for the Treatment of Neurodegenerative Diseases:
It is aimed to develop stable dosage forms containing the mitochondria-targeted, innovative SUL-238 molecule for use in progressive neurodegenerative diseases such as Alzheimer's and Parkinson's.
These two new projects not only reinforce our leadership goal in both national and international markets but also demonstrate our commitment to providing innovative solutions to societal health needs.
GEN R&D continues to be the most important force supporting our company's future growth and to create value for all our stakeholders with its competencies and strategic projects.
Registration Activities: During the period between January 1, 2025 and September 30, 2025, a total of 17 drugs were licensed: 14 in Türkiye, 2 in Georgia, and 1 in the United States of America.
07.07.2025- State Supply Office Tender Notification: Salutem Ecza Deposu Medikal Limited Şirketi (Salutem) which authorized by our company to join State Supply Office tenders and our related party at the same time joined State Supply Office 2 and 4 Months Tenders. As a result of the tenders drugs which will supplied by Salutem are provided from our company.
Contribution of the drugs which will be supplied by Salutem as a result of the State Supply Office 2 and 4 Months Tenders to the our Company's total sales will be TL 116.533.052,42. https://www.kap.org.tr/en/Bildirim/1456640
14.07.2025- Notification Regarding Capital Increase – Decrease: In accordance with the decision taken by the Board of Directors of our company, it was unanimously resolved to increase the company's capital from TL 300,000,000 to TL 4,500,000,000 by raising TL 4,200,000,000 entirely from internal resources, within the registered capital ceiling of TL 5,000,000,000.
https://www.kap.org.tr/en/Bildirim/1463676 https://www.kap.org.tr/en/Bildirim/1475900
28.07.2025- Updates on the SUL-238 Project: Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş.(GEN) disclosed on February 19, 2024 (https://www.kap.org.tr/en/Bildirim/1250351) Phase 1 clinical trials was started for SUL-238, our innovative drug research project which developed for the treatment of Alzheimer's and other neurodegenerative diseases. The results of these Phase 1 clinical trials have been presented at the 2025 Alzheimer's Association International Conference (AAIC 2025) in Toronto. Announced results indicates that SUL-238 is safe and well-tolerated in healthy volunteers, and its high ability to cross the blood-brain barrier indicates significant promise for the treatment of neurodegenerative diseases. Detailed Phase 1 clinical trial results are accessible on GEN's corporate website. In Phase 1 clinical trials, drugs are tested for the first time in humans, particularly to assess their safety and pharmacokinetic properties (such as postadministration blood concentrations, half-life, and bioavailability), using 20–80 healthy volunteers. Thanks to the successful completion of our Phase 1 clinical trials, the path has been cleared for the clinical development of SUL-238 in patient populations. https://www.kap.org.tr/en/Bildirim/1467051
01.08.2025 - Gen Pharma Caucasus Manufacturing Operations MMC (GEN Kafkasya) Capital Increase: Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. (GEN) has decided to participate in the capital increase carried out by Gen Pharma Caucasus Manufacturing Operations MMC (GEN Caucasus), a company in which GEN holds a 66% ownership stake. As a result of the capital increase, GEN Caucasus's capital has been raised to 15,300,000 AZN (Fifteen Million Three Hundred Thousand Azerbaijani Manat). GEN's ownership percentage has been maintained at 66%. https://www.kap.org.tr/en/Bildirim/1471389
13.08.2025- Distribution Agreement with Santhera Pharmaceuticals: Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. (GEN) and Santhera Pharmaceuticals, based in Switzerland, have signed an exclusive distribution agreement. Under the agreement, GEN will be the exclusive distributor in Türkiye for AGAMREE® (vamorolone), a product used in the treatment of Duchenne Muscular Dystrophy (DMD) in patients aged four years and older. Supply and sales of the drug are expected to begin in the first half of 2026. Upon the agreement coming into effect, GEN will follow the necessary procedures for the drug to be added to the foreign drug list of the Turkish Ministry of Health, and once the process is complete, the drug will be supplied and sold in Türkiye under the Named Patient Program (NPP). https://www.kap.org.tr/en/Bildirim/1481177
20.08.2025- State Supply Office Tender Notification: Salutem Ecza Deposu Medikal Limited Şirketi (Salutem) which authorized by our company to join State Supply Office tenders and our related party at the same time joined State Supply Office 2-Months Pharmaceutical Procurement Tender. As a result of the tender drugs which will supplied by Salutem are provided from our company.Contribution of the drugs which will be supplied by Salutem as a result of the State Supply Office 2-Months Pharmaceutical Procurement Tender of to the our Company's total sales will be TL 261.908.380,50
https://www.kap.org.tr/en/Bildirim/1481177
28.08.2025- Credit Rating Announcement by JCR Eurasia: Gen İlaç ve Sağlık Ürünleri San. ve Tic. A.Ş. has been evaluated by JCR Eurasia. https://www.kap.org.tr/tr/Bildirim/1483545
29.08.2025- Approval of Issue Limit by Capital Market Board of Türkiye: Our Company's application to Capital Markets Board of Türkiye to issue debt securities was approved by Capital Markets Board of Türkiye with the bulletin dated 28.08.2025 and numbered 2025/46 https://www.kap.org.tr/en/Bildirim/1483822
29.08.2025- Approval from the United States Food and Drug Administration (FDA): Our product, Aminocaproic Acid Injection USP, 5 g/20 mL (250 mg/mL), has received approval from the United States Food and Drug Administration (FDA) following successful completion of the related audit and evaluations as part of our marketing authorization application. This approval will enable the commercialization of the product in the United States and is also expected to facilitate and accelerate our regulatory processes in other countries that recognize FDA approvals.
https://www.kap.org.tr/en/Bildirim/1483831
12.09.2025- Update About Solar Power Plant Project: The work on the Solar Power Plant (SPP) project, carried out by Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. (GEN) with the aim of contributing to both sustainability and financial efficiency goals and constructed in multiple phases at three different locations in the Akdağmadeni district of Yozgat Province with a total installed capacity of 7.75 MW, has been completed. The acceptance of the SPPs with the above-mentioned installed capacity has been carried out by the Turkish Electricity Distribution Corporation (TEDAŞ), and the official acceptance letter has been delivered to our company. Together with the existing power plants with an installed capacity of 6.45 MW, GEN's total installed capacity has reached 14.2 MW, making it possible to meet nearly all of the company's electricity consumption from renewable energy sources. Through its solar power plant (SPP) investments, GEN is expected to achieve a significant reduction in its Scope 2 carbon emissions. Moreover, the resulting decrease in electricity costs is also anticipated to lead to an improvement in the EBITDA margin.
https://www.kap.org.tr/en/Bildirim/1489378
30.09.2025- Turkish Sustainability Reporting Standards Compliant Sustainability Report: Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş.'s (GEN) Turkish Sustainability Reporting Standarts (TSRS) and Global Reporting Standarts (GRI) compliant sustainability report published GEN's corporate website. https://www.kap.org.tr/en/Bildirim/1494323
8. EMPLOYEE STATUS
As of 30.09.2025, the number of personnel working within the group is 681. The Group's employee distribution is as follows.
| Company | Number of Employee |
|---|---|
| Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. | 571 |
| Genject Sağlık Ürünleri Kimya Sanayi Ticaret A.Ş. | 87 |
| Elixir İlaç Araştırma Geliştirme A.Ş. | 23 |
| Total | 681 |
Gender Distribution
9. LEGAL EXPLANATIONS
Lawsuits and Sanctions
According to the consolidated financial statements as of September 30, 2025 of the amount of provision allocated about Lawsuits which may affect company's financial situation and activities significantly is TL 15.625.364
10. CHANGE TO THE ARTICLES OF ASSOCIATION MADE DURING THE PERIOD
There is no any changes in the articles of association within the period between January 01, 2025 and September 30, 2025.
11. THE TERM DISTRIBUTED DIVIDEND INFORMATION DURING THE PERIOD
At the Ordinary General Assembly Meeting held on March 27, 2025, it was decided to distribute 74.38% of the net distributable profit for 2024 as cash dividends in 3 installments. The second installment was distributed on August 14, 2025. The table regarding dividend payments is presented below.
https://www.kap.org.tr/en/Bildirim/1475711
| Share Group Info | Payment | Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (TL) |
Cash Dividend To Be Paid For Share With Par Value of 1 TL -Gross (%) |
Withho lding Rate (%) |
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (TL) |
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (%) |
|---|---|---|---|---|---|---|
| A Group, Not Trading, TREGENL00016 |
1. Installment |
0,1333333 | 13,33333 | 15 | 0,1133333 | 11,33333 |
| A Group, Not Trading, TREGENL00016 |
2. Installment |
0,1333333 | 13,33333 | 15 | 0,1133333 | 11,33333 |
| A Group, Not Trading, TREGENL00016 |
3. Installment |
0,1333333 | 13,33333 | 15 | 0,1133333 | 11,33333 |
| A Grubu, İşlem Görmüyor, TREGENL00016 |
TOTAL | 0,3999999 | 39,99999 | 15 | 0,3399999 | 33,99999 |
| B Grubu, GENIL, TREGENL00024 |
1. Installment |
0,1333333 | 13,33333 | 15 | 0,1133333 | 11,33333 |
| B Group, GENIL, TREGENL00024 |
2. Installment |
0,1333333 | 13,33333 | 15 | 0,1133333 | 11,33333 |
|---|---|---|---|---|---|---|
| B Group, GENIL, TREGENL00024 |
3. Installment |
0,1333333 | 13,33333 | 15 | 0,1133333 | 11,33333 |
| B Group, GENIL, TREGENL00024 |
TOTAL | 0,3999999 | 39,99999 | 15 | 0,3399999 | 33,99999 |
12. CORPORATE GOVERNANCE PRACTICES
Committees of the Board of Directors
It has been decided by the Board of Directors of the Company to establish the following committees and to determine the memberships as follows.
| Audit Committee | |||
|---|---|---|---|
| President | Tolga KIZILTAN |
||
| Member | Bernay ÖZAVCI |
| Early Detection of Risk Committee | ||||
|---|---|---|---|---|
| President | Bernay ÖZAVCI |
|||
| Member | Tolga KIZILTAN |
| Corporate Governance Committee | |||
|---|---|---|---|
| President | Bernay ÖZAVCI | ||
| Member | Tolga KIZILTAN |
The Duties and the Working Principles of the Committees are accessible in our company's corporate website https://www.genilac.com.tr/komite-calisma-usul-ve-esaslari-kurumsalyonetim/
13. RISK MANAGEMENT PRACTICES
Risk management is implemented in accordance with the policies approved by the board of Directors and in accordance with intermnational standarts. Due to the fact that the sector in which company company operate it is faced with various risks, especially in the financial, operational and legal fields, risks are managed within the framework of the corporate risk management structure with an integrated, systematic and proactive approach with risk assessments updated with processes and spread throughout the organization. With effective risk following, it is provided that prioritization according to effects and possşbilities of these risks and management of these risks corrcectly.
Financial Risks
Within the scope of financial risks, risks arising from uncertainties and fluctuations in exchange rates, interest rates and commodity prices are defined.
When the exchange rate risk is evaluated, although most of our sales are based on imported products, our company does not face a serious exchange rate risk. The purchases and sales of the NPP business line, which constitutes the majority of our company's sales, are in foreign currency in accordance with the contracts made between our company and the relevant institutions, and our company does not carry any exchange rate risk in this field. In the case of imported registered drugs, which have the second largest share in the sales of our company, most of the exchange rate risk has been protected by the contracts signed with the business partners. As a result, our company, which does not carry exchange rate risk in most of its sales. Also, minimizes the exchange rate risk with effective financial management which may arise from the remaining part of the operation. Interest Rate Risk exerts its influence on interestsensitive assets and liabilities. The negative effects of interest rate risk are eliminated by balancing financial liabilities in short term / long term and fixed interest / variable interest. Uncertainties in commodity prices are minimized with effective stock management.
Liquidity Risk
Liquidity risk is managed by closely monitoring the current cash position and forecasted cash flows, and attention is paid to ensuring maturity matching between assets and liabilities. In order to protect short-term liquidity, net working capital is closely monitored and cash and cashlike assets are held against movements that may occur in the capital markets. In this way, the need for working capital and liquidity risk are minimized. Long-term liabilities are largely held at fixed interest rates and in a flexible structure. Ready-to-use cash and non-cash loan limits are determined with banks.
Risk of Concentration
The majority of the company's revenue comes from the NPP business line. However, with the production facility established in 2017, it is aimed to reduce the NPP concentration. With the registration of the products produced in the production facility and the increase in these products' sales, it is aimed to eliminate the risk of concentration by reducing the share of the NPP business line in total sales.
Due to the company's extensive operation and customer structure, its receivables are distributed across different sectors and geographical areas. Care is taken not to concentrate in a particular area or client. Trade receivables are monitored with regular reporting and evaluations, and attention is paid to the fact that customer credit risk arising from trade receivables remains within the approved limits. Care is taken to carry out transactions with parties with have credit reliability and to reduce existing risks with the collaterals taken.
Capital Risk
In terms of Capital Risk, the company's goal is to prevent harm to the company and its stakeholders in unexpected situations by continuing its activities with the most appropriate capital structure that reduces the cost of capital while providing returns to its partners. The most important indicators taken into account for this purpose are Net Financial Debt/EBITDA, Total Financial Debts/Equity, Current and Liquidity Ratios, Financial Debt Maturity Structure and Net Working Capital. By ensuring that all these indicators remain within the specified limits, it is seen that the Company has the capital structure and debt capacity to continue its activities in a healthy manner. The Board of Directors is informed by the reports prepared by the Company's management and submitted periodically to the Risk Management Committee.
The Company's issued capital of TL 300 million is protected by its shareholders' equity of TL 9.759.107.759 as of September 30, 2025.
Other Risks
Operational, legal and strategic risks are evaluated by the relevant units and the decisions taken by the Senior Management in this field are followed by the Board of Directors through the Risk Management Committee. The Board of Directors also acts proactively with the Early Detection of Risk Committee and Senior management on corporate risk management activities carried out within the scope of strategic planning and management processes.
In order to cover the damages that may arise in the event of operational or other risks including the company and its affliates, insurance is taken out in various issues related to the risks that may occur. All transferrable risks that are transferred to third parties through the insurance process. Operational risks are monitored by the relevant units for the company and periodically reported to the Senior Management.
Changes in the legislation are followed by all relevant units, especially the Legal Counsel's Office, and necessary information, training and compliance activities are carried out to avoid legal risks.
14. SHARE BUYBACK
Within the framework of our Board of Directors' resolution dated March 26, 2025, numbered 2025/03-008, information regarding the share repurchases carried out during the period from January 1, 2025 to September 30, 2025 is presented below.
| Code of Share Subject to Buyback |
Transaction Date |
Nominal Value of Shares Subject to Transaction (TRY) |
Ratio To Capital (%) |
Transaction a Price (TRY/Unit) |
Privileges, If Any, Associated With These Shares |
|---|---|---|---|---|---|
| Group B, GENIL, TREGENL00024 |
16.04.2025 | 10.000 | 0,00333 | 123,05 | - |
| Group B, GENIL, TREGENL00024 |
09.09.2025 | 300.000 | 0,1 | 162,5 | - |
15. STOCK INFORMATION
Ticker ID: GENIL
Bulletin Name: GEN ILAC
Market: BIST STARS
Indices: BIST PARTICIPATION DIVIDEND / BIST 500 / BIST PARTICIPATION 50 /BIST STARS / BIST ANKARA / BIST BUYBACK / BIST DIVIDEND / BIST PARTICIPATION ALL SHARES / BIST W. AND RETAIL TRADE / BIST 100-30 / BIST PARTICIPATION 100 / BIST SERVICES / BIST ALL SHARES / BIST 100
30.09.2024 Price: 89,691
30.09.2025 Price: 184,902
Revenue: 106%
One year comperative prices of GENIL with BIST 100 Index has presented below.
1 The corrected closing price on 30.09.2024
2 The corrected closing price on 30.09.2025
GEN İLAÇ VE SAĞLIK ÜRÜNLERİ SANAYİ TİCARET ANONİM ŞİRKETİ AND AFFILIATED COMPANIES
ACTIVITY REPORT FOR THE PERIOD BETWEEN JANUARY 1 - SEPTEMBER 30, 2025
16. CONTACT INFORMATION
GEN Investor Relations Department – [email protected]
Can Onur DEMİRALP – Investor Relations Specialist
0505 177 10 06
Legal Notice
This Activity Report has been prepared in accordance with the legislation in order to inform the shareholders about the company's activities and accounts for the period January 01, 2025 and September 30, 2025 It is not intended to be the basis for any investment decision.
Forward-looking views and estimated numbers reflect company management's views about future situation, realization of these forecasts can vary depending on assumptions and variables which constitutes forward looking numbers. In accordance with this, GEN or its Board of Director Members, advisors or employees are not responsible for any information or communications made in this Report or direct or indirect losses of anybody based on information given in this report or not.
As of the time of preparation of this Activity Report, it is believed that all information in the report is accurate and GEN is not responsible for any inaccuracies that may occur during the spelling and printing stages.
This report has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this report, the Turkish version shall prevail.