WOOD Flash – Kalekim: 3Q25 results – resilient operating performance overshadowed by bottom-line miss
Kalekim announced its 3Q25 IAS 29 results yesterday (4 November), after the market closed, reporting net earnings of TRY 246m, -23% yoy. The reported bottom line was in line with our expectations, but 25% lower than the consensus.We saw a resilient operating performance in 3Q25, with higher revenues and improving margins; however, the bottom line was weighed down by lower net financial income, high net monetary losses, and a higher effective tax rate.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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