Vestel Earnings Q3 Gross Profit Jumps 52.8%

Vestel earnings for the third quarter of 2026 showed a clear profitability rebound. Vestel Elektronik reported that gross profit rose 52.8% from the prior quarter to TL 5.4 billion, according to its 6 November 2026 KAP disclosure and company press release. EBITDA returned to a positive TL 908 million, for a 3.6% margin, while, in addition, revenue landed at TL 24.9 billion.

Gross profit climbed from TL 3.6 billion in the second quarter to TL 5.4 billion in July–September. In addition, the gross margin reached 21.8%, improving 8 points quarter over quarter and 3.7 points versus the same quarter a year earlier.

Why did Vestel earnings margins rebound?

EBITDA swung from a negative TL 1.4 billion in the previous quarter to TL 908 million. As a result, Vestel ended three consecutive negative EBITDA quarters. However, revenue slipped 3.3% from the prior quarter; despite that softer top line, profitability metrics improved sharply.

CEO Gökhan Sığın said the results show the concrete effects of Vestel’s transformation program, which prioritizes value and profitability over volume. For example, he argued that revenue stayed close to the previous quarter while the 8-point gross-margin gain and the return to positive EBITDA confirm that cost discipline and efficiency work are moving in the right direction.

For the first nine months of the year, net loss narrowed 29% year over year. Meanwhile, the absolute loss figure was not included in the company bulletin used for this report. Official filings can also be checked on the Public Disclosure Platform (KAP).

How does the broader Vestel group look?

Meanwhile, sister company Vestel Beyaz Eşya said last week that third-quarter EBITDA turned positive again at TL 1.6 billion. Therefore the electronics and white-goods updates point to a margin-led recovery across the group rather than a volume surge.

Moreover, Vestel is a major Turkish manufacturer with its Vestel City base in Manisa and trades on Borsa Istanbul under the VESTL ticker. For related SDN coverage, see the ASELSAN nine-month results brief and our earlier Vestel Mobility report.

What are the key Q3 figures?

Metric	Q3 2026	Comparison
Revenue	TL 24.9 billion	Down 3.3% QoQ
Gross profit	TL 5.4 billion	From TL 3.6 billion; up 52.8% QoQ
Gross margin	21.8%	+8 pts QoQ; +3.7 pts YoY
EBITDA	TL 908 million	From negative TL 1.4 billion
EBITDA margin	3.6%	Positive after three negative quarters
9-month net loss	Not quantified in bulletin	Down 29% YoY