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Our Company’s financial report for the period 01.01.2025 – 30.09.2025 has been published. Click to access the related disclosure.

Click for our interim activity report for the period 01.01.2025 – 30.09.2025.

SERMAYE PİYASASI KURULU’NUN
II-14.1. SAYILI SERMAYE PİYASASINDA FİNANSAL RAPORLAMAYA İLİŞKİN ESASLAR TEBLİĞİ’NİN 9. MADDESİ GEREĞİNCE HAZIRLANAN SORUMLULUK BEYANI

Şirketimiz tarafından, Sermaye Piyasası Kurulu’nun (SPK) II-14.1 sayılı Sermaye Piyasasında Finansal Raporlamaya İlişkin Esaslar Tebliği (Tebliğ) uyarınca Türkiye Muhasebe Standartları/Türkiye Finansal Raporlama Standartları (TMS/TFRS) ve SPK tarafından belirlenen formatlara uyumlu olarak hazırlanan 01 Ocak 2025- 30 Eylül 2025 hesap dönemine ait finansal tabloların ve ara dönem faaliyet raporunun;
• Tarafımızca incelendiğini,
• Şirketimizdeki görev ve sorumluluk alanımızda sahip olduğumuz bilgiler çerçevesinde, önemli konularda gerçeğe aykırı bir açıklamaya ya da açıklamanın yapıldığı tarih itibariyle yanıltıcı olması sonucunu doğurabilecek herhangi bir eksiklik içermediğini,
• Şirketimizdeki görev ve sorumluluk alanımızda sahip olduğumuz bilgiler çerçevesinde, Tebliğ uyarınca hazırlanmış finansal tabloların, işletmenin aktifleri, pasifleri, finansal durumu ve kar ve zararı ile ilgili gerçeği dürüst bir biçimde yansıttığını, Yönetim Kurulu faaliyet raporunun işin gelişimi ve performansını, işletmenin finansal durumunu, karşı karşıya olunan önemli riskler ve belirsizliklerle birlikte dürüstçe yansıttığını,
bilgilerinize sunar, yapılan açıklamadan dolayı sorumlu olduğumuzu beyan ederiz.
Saygılarımızla,

CEO
Bülent Karaman

Denetimden Sorumlu Komite Başkanı
Ünsal Sözbir

Denetimden Sorumlu Komite Üyesi
Selim Erdoğan

In our announcement dated 23.09.2025, our Company reported that it ranked first in the “Erzurum Hınıs Başköy Dam Irrigation Material Procurement Part 1 (HDPE Pipe)” tender of the State Hydraulic Works 8th Regional Directorate.
The Tender Commission has conveyed to us the finalization decision confirming the award of the work and the invitation for contract, and the contract has been signed.
The contract value is TRY 42,264,478.69 excluding VAT.
In our announcement dated 23.09.2025, our Company reported that it ranked first in the “Erzurum Hınıs Başköy Dam Irrigation Material Procurement Part 1 (HDPE Pipe)” tender of the State Hydraulic Works 8th Regional Directorate.
The Tender Commission has conveyed to us the finalization decision confirming the award of the work and the invitation for contract, and the contract has been signed.
The contract value is TRY 42,264,478.69 excluding VAT.
In our announcement dated 02.07.2025, our Company reported that it ranked first in the “Amasya Aydınca Dam Irrigation GRP Pipe Procurement” tender of the State Hydraulic Works 7th Regional Directorate. 
The Tender Commission has conveyed to us the finalization decision confirming the award of the work and the invitation for contract, and the contract has been signed. 
The contract value is TRY 47,840,250.04 excluding VAT. 

A GRP pipe sales contract amounting to TRY 248,960,509.00 (VAT Included) has been signed between our Company and a domestically based firm.
The pipes in question will be used in irrigation projects in Hatay/Reyhanlı and Kahramanmaraş/Kılavuzlu regions. Deliveries are planned to be completed by December 2025.

Our company participated in the tender numbered 2025/1264133, titled “Erzurum Hınıs Başköy Dam Irrigation Material Procurement 1st Section (HDPE Pipe)” conducted by DSI 8th Regional Directorate, and was ranked 1st by submitting the most advantageous price. The tender amount is TRY 42,264,478.69 excluding VAT. The final decision of the tender has been notified to our company by DSI 8th Regional Directorate.

A loan agreement totaling USD 7 million, sourced from the International Bank for Reconstruction and Development, has been signed with the Industrial Development Bank of Turkey (TSKB). USD 5 million of the loan will be provided as a 5-year term investment loan, while USD 2 million will be provided as a 2-year term working capital loan.

These loans will be used to finance the EGE-1 thermoplastic pipe production factory investment, which is being established in Balıkesir Organized Industrial Zone, and to meet working capital needs within the scope of our Company’s 2025-2028 strategic plan.

Our Aksaray PPR pipe production facility, which was announced through a Material Event Disclosure on 16.07.2025 within the scope of our Company’s 2025-2028 strategic plan, has been completed and commenced production as of today. With our new production facility, our company’s PPR pipe production capacity has been increased by 60%.

Our company participated in the tender titled “Polyethylene Pipe Supply Part 1” with registration number 2025/1155973, organized by Samsun Metropolitan Municipality Water and Sewerage Administration (SASKI) General Directorate, and ranked first by submitting the most advantageous bid. The tender price is TL 86,593,330.20 excluding VAT. The finalization decision of the tender has been notified to our company by SASKI General Directorate.

Prepared in accordance with Article 29 of the Capital Markets Board’s Stock Disclosure No. VII-128.1; Click here for the report containing assessments of whether the assumptions used in determining the public offering price of our company’s shares have materialized as of June 30, 2025. 

21.08.2025-Announcement of Tender Process
Our Company participated in the tender with registration number 2025/1007139, titled “Elazığ-Uluova Irrigation 2nd Section Material Procurement (GRP Pipe) 2nd Section” conducted by the 9th Regional Elazığ State Hydraulic Works General Directorate of Other Special Budget Organizations on 20.08.2025, and was awarded first place by submitting the most advantageous price. The tender value is TRY 155,768,068.00 excluding VAT.
Developments regarding the tender will be communicated to the public and our investors.

Click here for Participation Finance Principles Information Form

Click here for the Representation Letter 

Click Here for the Activity Report for the Period 1 January – 30 June 2025

Our Company’s financial report dated August 11, 2025 has been published. Please click here to access the relevant notification.

Our company participated in the tender numbered 2025/881788, titled “Erzurum Hınıs Başköy Dam Irrigation Material Procurement 5th Section (GRP Pipe)” conducted by DSI 8th Regional Directorate on 23.07.2025, and was ranked 1st by submitting the most advantageous price. The tender amount is TRY 178,212,206.46 excluding VAT.

In line with our company’s investment targets within the scope of the 2025-2028 strategic plan, purchase agreements for the necessary buildings and machinery-equipment have been signed for the Aksaray-PPR pipe production factory.The facility, with a total investment amount of USD 5,328,000, is planned to be commissioned within 2025. 

Upon completion of this investment, it is anticipated that our company’s existing PPR production capacity will increase by 60%.

In our announcement dated 23.05.2025, our Company reported that we were awarded first place in the tender for “Bolu-Seben Taşlıyayla Dam Irrigation Material Procurement 3rd Section (HDPE Pipe Procurement)” by the State Hydraulic Works 5th Regional Directorate.
The Tender Commission has communicated to us the finalization decision confirming the award and the invitation for contract signing, and the contract has been signed.
The contract value is TRY 47,276,327.66 excluding VAT. This amount is expected to be reflected in the financial statements of the 4th quarter of 2025.
We hereby inform the public.
Our Company participated in the tender with registration number 2025/799910, titled “Amasya Aydınca Dam Irrigation GRP Pipe Procurement” conducted by the 7th Regional Samsun State Hydraulic Works General Directorate of Other Special Budget Organizations on 30.06.2025, and was awarded first place by submitting the most advantageous price. The tender value is TRY 47,840,250.04 excluding VAT.
Developments regarding the tender will be communicated to the public and our investors.
In line with the investment projections envisaged within the framework of our company’s 2025-2028 strategic plan, the machinery and equipment procurement contract has been signed for the EGE-1 thermoplastic pipe production facility. The facility, located in Balıkesir Organized Industrial Zone with an approximate area of 27,000 m2, will be commissioned within 3 months.
 
The contract value for the machinery and equipment with a capacity of 45,000 tons/year within the scope of this investment is USD 5,258,000. The investment is expected to contribute 30% to our existing thermoplastic pipe production capacity. Further developments regarding this investment will continue to be shared with the public in accordance with the relevant legislation.

Our Company participated in the tender with registration number 2025/659085, titled “Kars Dam Irrigation 1st Section GRP Pipe Material Procurement 2nd Section” conducted by the State Hydraulic Works 24th Regional Directorate on 20.06.2025, and was awarded first place by submitting the most advantageous bid. This project, which is our company’s first tender in the GRP product group, has a value of TRY 199,833,785.60 excluding VAT.

Within the scope of our Disclosure Policy, the analyst meeting presentation containing information regarding our Company’s 2024 year-end and 2025 first quarter financial results and 3-year strategic plan has been published on our corporate website (https://kuzeyboruyatirimciiliskileri.com/yatirimci-sunumlari/).

Article 6 of our Articles of Association titled “Capital” has been amended and please click here for the current Articles of Association containing the said amendment.

For information on the update of dividend payment amounts and rates, please click here. (https://www.kap.org.tr/en/Bildirim/1446214 )

The share issuance regarding the increase of our company’s capital by 500,000,000 TL to 600,000,000 TL, with an increase of 500%, provided entirely from internal resources, and the amendment regarding the amendment of Article 6 titled “Capital” of the Articles of Association were registered by the Aksaray Trade Registry Directorate on 05.06.2025 and published in the Turkish Trade Registry Gazette dated 05.06.2025 and numbered 11346.

The capital increase of our Company, which involves a 500% increase amounting to TL 500,000,000 to reach TL 600,000,000, entirely from internal resources, and the amendment of Article 6 titled “Capital” of the Articles of Association have been approved by the Capital Markets Board (CMB). The announcement regarding the CMB’s approval of the share issuance has been published in the CMB bulletin dated May 30, 2025, numbered 2025/32. The approved Issuance Certificate and the Amendment Text of the Articles of Association are attached.
The starting date for the exercise of bonus share rights is June 4, 2025.
The capital increase of our Company, which involves a 500% increase amounting to TL 500,000,000 to reach TL 600,000,000, entirely from internal resources, and the amendment of Article 6 titled “Capital” of the Articles of Association have been approved by the Capital Markets Board (CMB). The announcement regarding the CMB’s approval of the share issuance has been published in the CMB bulletin dated May 30, 2025, numbered 2025/32. We hereby inform the public and our investors.
Click here for notification.
In our disclosure made on the Public Disclosure Platform (KAP) on April 28, 2025, we announced that our company participated in the tender titled “Kastamonu Gökırmak Obrucak Irrigation Materials Procurement Part 12 (PE Pipe Procurement)” with tender registration number 2025/390605, conducted by the 23rd Regional Kastamonu Other Special Budget Institutions State Hydraulic Works General Directorate, and ranked first in the tender by offering the most advantageous price.
The Tender Commission has communicated to our company the finalization decision that the work has been awarded to us and extended an invitation for contract signing. The contract has been signed between the parties as of today. The base value of the work is 84,909,119.64 TL excluding VAT, and the contract value is expected to be reflected in the company’s financial data as of the 4th quarter of 2025.

 In accordance with Article 33 of the Capital Markets Board’s Stock Certificate Disclosure No. VII-128.1, click here for the report on the use of funds obtained from the public offering dated May 27, 2025.

As stated in the Prospectus regarding the public offering approved by the Capital Markets Board on 01.12.2023, the entire net income of TL 698,153,200 obtained from the public offering was determined by the Audit Committee’s report dated 27.05.2025 to have been used as committed by the Company’s management.

Our company participated in the tender titled “Procurement of Materials for Bolu-Seben Taşlıyayla Dam Irrigation Part 3 (HDPE Pipe Procurement)” with tender registration number 2025/401632, conducted by the 5th Regional Directorate of State Hydraulic Works (DSİ) in Ankara, Other Special Budget Institutions, on May 23, 2025 (today). By offering the most advantageous price, our company ranked first in the tender.The tender value is 47,276,327.66 TL, excluding VAT.

Developments regarding the tender will be communicated to the public and our investors.

The GRP pipes produced at our Malatya factory have been included in the approved manufacturer list by DSİ (State Hydraulic Works) after thorough inspections confirming compliance with manufacturing standards. The announcement regarding this development has been officially made by the General Directorate of State Hydraulic Works through manufacturer compliance forms on their official website.

This achievement signifies that our company is now eligible to participate in GRP pipe tenders issued by DSİ.

 

The General Assembly resolution dated May 14, 2025, regarding the selection of  Rehber Bağımsız Denetim ve Yeminli Mali Müşavirlik A. Ş. as the independent audit firm for the financial statements of the accounting period January 1, 2025 – December 31, 2025, was registered on May 16, 2025, and published in the Turkish Trade Registry Gazette.

 

Pursuant to Article 29 of the Capital Markets Board’s Communiqué on Shares No. VII-128.1, click here for the report containing evaluations on whether the assumptions used in determining the public offering price of our company’s shares have been realized as of March 31, 2025.

At the Ordinary General Assembly Meeting of the Company dated 14.05.2025, it was decided to select Rehber Bağımsız Denetim ve Yeminli Mali Müşavirlik A. Ş. to audit the financial statements of the accounting period 01.01.2025- 31.12.2025.

With the approval of the General Assembly, the Cash Dividend Rights Use Date has been finalized as 24.06.2025.

Click here for the minutes of the Ordinary General Assembly Meeting held on 14.05.2025 and the list of attendees. https://www.kap.org.tr/en/Bildirim/1439097 )

In the notification we made on the Public Disclosure Platform (KAP) on 11.03.2025, it was announced that our company participated in the tender titled “Muğla Dalaman Plain Irrigation HDPE Pipe Purchase 4 Sections” with the tender registration number 2025/111389, which was held by the DSİ 21st Regional Directorate-Aydın Other Special Budget Institutions General Directorate of State Hydraulic Works, and came in first in the tender by offering the most advantageous price.
 
The Tender Commission forwarded the finalization decision and the contract invitation to our company that the work remained in our possession. The contract was signed between the parties.
The base price of the work is 38,831,912.80 TL excluding VAT, and the contract price is expected to be reflected in the company’s financial data as of the 4th quarter of 2025.
SERMAYE PİYASASI KURULU’NUN
II-14.1. SAYILI SERMAYE PİYASASINDA FİNANSAL RAPORLAMAYA İLİŞKİN ESASLAR TEBLİĞİ’NİN 9. MADDESİ GEREĞİNCE HAZIRLANAN SORUMLULUK BEYANI
                                                                                                                 
Şirketimiz tarafından, Sermaye Piyasası Kurulu’nun (SPK) II-14.1 sayılı Sermaye Piyasasında Finansal Raporlamaya İlişkin Esaslar Tebliği (Tebliğ) uyarınca Türkiye Muhasebe Standartları/Türkiye Finansal Raporlama Standartları (TMS/TFRS) ve SPK tarafından belirlenen formatlara uyumlu olarak hazırlanan 01 Ocak 2024- 31 Mart 2025 hesap dönemine ait finansal tabloların ve Yönetim Kurulu faaliyet raporunun;
• Tarafımızca incelendiğini,
• Şirketimizdeki görev ve sorumluluk alanımızda sahip olduğumuz bilgiler çerçevesinde, önemli konularda gerçeğe aykırı bir açıklamaya ya da açıklamanın yapıldığı tarih itibariyle yanıltıcı olması sonucunu doğurabilecek herhangi bir eksiklik içermediğini,
• Şirketimizdeki görev ve sorumluluk alanımızda sahip olduğumuz bilgiler çerçevesinde, Tebliğ uyarınca hazırlanmış finansal tabloların, işletmenin aktifleri, pasifleri, finansal durumu ve kar ve zararı ile ilgili gerçeği dürüst bir biçimde yansıttığını, Yönetim Kurulu faaliyet raporunun işin gelişimi ve performansını, işletmenin finansal durumunu, karşı karşıya olunan önemli riskler ve belirsizliklerle birlikte dürüstçe yansıttığını,
bilgilerinize sunar, yapılan açıklamadan dolayı sorumlu olduğumuzu beyan ederiz.
Saygılarımızla,
 
CEO
Bülent Karaman
 
Denetimden Sorumlu Komite Başkanı
Ünsal Sözbir
 
Denetimden Sorumlu Komite Üyesi 
Selim Erdoğan

Click here for the interim activity report for the period 01.01.2025 – 31.03.2025.

Click here for General Explanations on Financial Statements.

Our company participated in the tender held today (28.04.2025) by the 23rd Region Kastamonu Other Special Budget Institutions General Directorate of State Hydraulic Works, with the tender registration number 2025/390605, titled “Kastamonu Gökırmak Obrucak Irrigation Material Procurement Part 12 (PE Pipe Procurement).” We offered the most advantageous price and ranked first in the tender. The tender amount is 84,909,119.64 TL excluding VAT.

Regarding our company’s decision to establish a 12,901.98 kWp capacity Ground-Mounted Solar Power Plant (SPP) in Harran District, Şanlıurfa Province, to contribute to clean energy production and reduce carbon emissions, the Environmental Impact Assessment (EIA) Report by the Ministry of Environment, Urbanization and Climate Change’s General Directorate of Environmental Impact Assessment, Permit and Inspection, has been reviewed and evaluated by the Review and Evaluation Commission. As a result, the project has been given an “ENVIRONMENTAL IMPACT ASSESSMENT POSITIVE DECISION.” The announcement regarding the decision has been published on the website of the Ministry of Environment and Urbanization’s General Directorate of Environmental Impact Assessment, Permit, and Inspection as of 24.04.2025.

Our company’s 2024 Ordinary General Assembly Meeting will be held to discuss and decide on the agenda items on Wednesday, May 14, 2025, at 14:00 at the address Kırımlı Organize Sanayi Bölgesi Mahallesi Mehmetçik Bulvarı No:2 Merkez/Aksaray.

Click here for agenda items and other details.

Under the provisions of the Capital Markets Board’s Communiqué No: II, Series: 14.1, financial statements prepared based on Turkish Financial Reporting Standards (TFRS) show a net period profit of 648,423,565.00 TL, while our financial statements prepared under the Tax Procedure Law show a net period profit of 615,069,934.09 TL. Pursuant to Article 13 of our Company’s Articles of Association;
 
It has been decided to allocate 3,961,585.67 TL from the net period profit as general legal reserves in accordance with the limits and rates specified in Article 519 of the Turkish Commercial Code, and to determine the Net Distributable Period Profit base as 644,461,979.33 TL since no donations were made during the year. Accordingly:
 
a- To distribute as “first dividend to shareholders” a gross amount of 128,892,395.87 TL, corresponding to 20% in accordance with the Turkish Commercial Code and capital market legislation within the framework of the company’s profit distribution policy,
 
b- To pay a cash dividend at a gross rate of 20% per share with a nominal value of 1 TL, and to pay our fully liable real person shareholders and limited liable real and legal person shareholders the net rate after deducting the withholding tax rates specified in the tax laws,
 
c- To allocate 12,389,239.59 TL, which is 10% of the amount obtained after deducting a dividend corresponding to 5% of the capital from the portion decided to be distributed to shareholders, as general legal reserves in accordance with the second paragraph of Article 519 of the Turkish Commercial Code,
 
d- To transfer the undistributed profits amounting to 503,180,343.88 TL prepared based on TFRS to the “Retained Earnings and Losses” account, and to transfer the undistributed profits amounting to 469,826,712.97 TL under tax legislation to the “Retained Earnings and Losses” account,
 
e- To start the payment of the first dividend on 24.06.2025 and to distribute it in cash,
 
f- To authorize the Board of Directors regarding the execution of tasks and transactions related to profit distribution, and to present these matters for the approval of our shareholders at the company’s Ordinary General Assembly Meeting.
 
Click here for the profit distribution table.

Our Board of Directors has decided to select SG Yeminli Mali Müşavirlik ve Bağımsız Denetim A.Ş., registered with Ankara Trade Registry Office under trade registry number 245530, located at Beştepe Mahallesi Nergis Sokak N7/2 İç Kapı N 61 Yenimahalle / Ankara, to conduct assurance audit activities for the sustainability report for the year 2025, prepared in accordance with the Turkish Sustainability Reporting Standards published by the Public Oversight, Accounting and Auditing Standards Authority, as well as for other selected sustainability-related information. This decision will be submitted for approval at the next General Assembly Meeting.

Our Board of Directors has decided to appoint Rehber Bağımsız Denetim ve Yeminli Mali Müşavirlik A.Ş. to audit our company’s financial statements for the fiscal year January 1, 2025 – December 31, 2025, in accordance with the principles set forth by the Turkish Commercial Code No. 6102 and the Capital Markets Law No. 6362, and to carry out activities within the scope of relevant regulations under these laws. This decision will be submitted for the approval of shareholders at the upcoming General Assembly Meeting.

Our Company’s Board of Directors has decided to approve the attached “Donation and Aid Policy,” which has been created based on the need for an update, and to submit it for the approval of shareholders at the next General Assembly Meeting of our Company.

Click here for the donation and aid policy proposal.

Our project titled “Digitalization Systems Focused on Energy Efficiency in Extrusion Pipeline” with project number 3248268, developed by our R&D team, has been deemed worthy of support as a result of evaluations within the scope of TÜBİTAK 1832 – Green Transformation in Industry 2024-2 Call.
The aim of this project is to digitalize production processes, integrate AI-supported decision mechanisms to reduce energy consumption, develop a sustainable production model, implement advanced traceability for products, and establish advanced quality control processes.
In line with our company’s decision to contribute to clean energy production and reduce carbon emissions, the ongoing permit processes for the planned 12,901.98 kWp capacity Ground-Mounted Solar Power Plant (GES) in Harran District, Şanlıurfa Province, were addressed in an update provided by the General Directorate of EIA, Permits, and Inspections of the Ministry of Environment, Urbanization, and Climate Change as of April 9, 2025. It was stated that the Revised Final EIA Report has been approved.
 
Once the project is completed as planned, an investment in a solar power plant of sufficient size to meet 100% of the electricity consumption resulting from our operations will have been realized.

On 28.02.2025, in our announcement made on the Public Disclosure Platform (KAP), it was stated that our company participated in the tender titled “PE Pipe Supply Work for Wastewater Collector Line” with tender registration number 2025/116927, conducted by Samsun Metropolitan Municipality Water and Sewerage Administration General Directorate, and ranked first by submitting the most advantageous bid.

The Tender Commission has conveyed the final decision confirming that the project remains under our responsibility and has invited us to sign the contract. A contract has been signed between the parties.
The base value of the project is 74,654,660.00 TL excluding VAT, and the contract amount is expected to be reflected in the company’s financial data by the 3rd quarter of 2025.

On 28.02.2025, in our announcement made on the Public Disclosure Platform (KAP), it was stated that our company participated in the tender titled “PE Pipe Supply Work for Wastewater Collector Line” with tender registration number 2025/116927, conducted by Samsun Metropolitan Municipality Water and Sewerage Administration General Directorate, and ranked first by submitting the most advantageous bid.

The Tender Commission has conveyed the final decision confirming that the project remains under our responsibility and has invited us to sign the contract. A contract has been signed between the parties.
The base value of the project is 74,654,660.00 TL excluding VAT, and the contract amount is expected to be reflected in the company’s financial data by the 3rd quarter of 2025.

On 28.02.2025, in our announcement made on the Public Disclosure Platform (KAP), it was stated that our company participated in the tender titled “PE Pipe Supply Work for Wastewater Collector Line” with tender registration number 2025/116927, conducted by Samsun Metropolitan Municipality Water and Sewerage Administration General Directorate, and ranked first by submitting the most advantageous bid.

The Tender Commission has conveyed the final decision confirming that the project remains under our responsibility and has invited us to sign the contract. A contract has been signed between the parties.
The base value of the project is 74,654,660.00 TL excluding VAT, and the contract amount is expected to be reflected in the company’s financial data by the 3rd quarter of 2025.

Prepared in accordance with Article 29 of the Capital Markets Board’s Share Communiqué No. VII-128.1; The report containing evaluations on whether the assumptions taken as a basis in determining the public offering price of our company’s shares have been realized as of 31.12.2024 is attached.

Our Company participated in the tender titled “Muğla Dalaman Plain Irrigation HDPE Pipe Purchase 4 Parts,” with tender registration number 2025/111389, conducted by DSI 21st Regional Directorate-Aydın Other Special Budget Institutions State Hydraulic Works General Directorate on 10.03.2025 (yesterday). Our Company submitted the most advantageous bid and ranked first in the tender. The tender value is 38,831,912.80 TL, excluding VAT.
Developments regarding the tender will be communicated to the public and our investors.
An application has been made to the Capital Markets Board on 06.03.2025 for the approval of the Issuance Document regarding the increase of our Company’s issued capital from TL 100,000,000 to TL 600,000,000 with an increase of TL 500,000,000 (500% increase), to be fully covered from internal resources, within our registered capital ceiling of TL 1,500,000,000, and for obtaining compliance opinion for the amendment of Article 6 titled “Capital” of our Company’s Articles of Association.
We present it to the public and our investors.

Click here for Participation Finance Principles Information Form.

Click here for the 2024 Sustainability Compliance Report.

Click for 2024 Corporate Governance Information Form.

Click here for the 2024 Corporate Governance Compliance Report.

Şirketimiz tarafından 01 Ocak 2024- 31 Aralık 2024 hesap dönemine ait, Sermaye Piyasası Kurulu’nun (SPK) II-14.1 sayılı Sermaye Piyasasında Finansal Raporlamaya İlişkin Esaslar Tebliği (Tebliğ) uyarınca Türkiye Muhasebe Standartları/Türkiye Finansal Raporlama Standartları (TMS/TFRS) ve SPK tarafından belirlenen formatlara uyumlu olarak hazırlanan finansal tabloların, Türk Ticaret Kanunu ve SPK Tebliğine uyumlu olarak hazırlanan Yönetim Kurulu Faaliyet Raporunun, Kurumsal Yönetim Uyum Raporu (URF), Kurumsal Yönetim Bilgi Formu (KYBF) ve Sürdürülebilirlik İlkeleri Uyum Raporunun SPK düzenlemeleri doğrultusunda,
• Tarafımızca incelendiğini,
• Şirketimizdeki görev ve sorumluluk alanımızda sahip olduğumuz bilgiler çerçevesinde, önemli konularda gerçeğe aykırı bir açıklamaya ya da açıklamanın yapıldığı tarih itibarıyla yanıltıcı olması sonucunu doğurabilecek herhangi bir eksiklik içermediğini,
• Şirketimizdeki görev ve sorumluluk alanımızda sahip olduğumuz bilgiler çerçevesinde, Tebliğ uyarınca hazırlanmış finansal tabloların, işletmenin aktifleri, pasifleri, finansal durumu ve kar ve zararı ile ilgili gerçeği dürüst bir biçimde yansıttığını, Türk Ticaret Kanunu ve SPK Tebliğine uyumlu olarak hazırlanan faaliyet raporunun işin gelişimi ve performansını, işletmenin finansal durumunu, karşı karşıya olunan önemli riskler ve belirsizliklerle birlikte dürüstçe yansıttığını,
bilgilerinize sunar, yapılan açıklamadan dolayı sorumlu olduğumuzu beyan ederiz.
Saygılarımızla,

CEO
Bülent Karaman

Denetimden Sorumlu Komite Başkanı
Ünsal Sözbir

Denetimden Sorumlu Komite Üyesi
Selim Erdoğan

Click here for our activity report for the period 01.01.2024 – 31.12.2024.

Our Company’s financial report dated December 31, 2024 has been published. Please click here to access the relevant notification.

Our Company participated in the tender titled “Supply of PE Pipes for Wastewater Collector Line,” with tender registration number 2025/116927, conducted by Samsun Metropolitan Municipality Water and Sewerage Administration General Directorate on 27.02.2025 (yesterday). Our Company submitted the most advantageous bid and ranked first in the tender. The tender value is 74,654,660.00 TL, excluding VAT.
Developments regarding the tender will be communicated to the public and our investors.

By the resolution of our Company’s Board of Directors, pursuant to Article 11 of the Capital Markets Board’s Corporate Governance Communiqué No. II-17.1, it has been decided to appoint Emine Aytaç as Investor Relations Department Manager to fulfill the obligations arising from Capital Markets Legislation, ensure coordination in Corporate Governance practices, and report to the senior executive officer regarding her activities.

At the Board of Directors meeting held on February 21, 2025;
 
1- It has been decided to accept the resignation of Ms. Emine SELDÜZ from her position as Board Member, who was elected as a Board Member at our Company’s Annual General Meeting held on April 29, 2024,
2- It has been decided to appoint Ms. Pelin AKAN ŞALIKARA, Investment and Budget Director, as a member of the Sustainability Committee to fill the vacancy created by Ms. Emine SELDÜZ’s resignation.
ne of the main reasons for our Company’s public offering decision and in our Malatya CTP Composite Pipe production facility, which started operations in September 2024, a decision has been made to increase production capacity in line with our growth strategies. In this context, a machinery purchase agreement has been signed with the supplier company for an amount of EUR 5,400,000 (Five Million Four Hundred Thousand EURO) to increase the current production capacity of our facility by 70%.
Upon completion of the investment and when the new production lines become operational at full capacity, it is anticipated to provide an additional contribution of approximately USD 40 million (Forty Million US Dollars) to our company’s annual turnover.
Developments regarding the progress of the investment will be shared separately with the public.
By our Board of Directors;
1. To increase the Company’s issued capital of TL 100,000,000, within the registered capital ceiling of TL 1,500,000,000, by TL 500,000,000 (500% increase) to TL 600,000,000, to be fully covered from internal resources,
2. Of the TL 500,000,000 to be increased from internal resources, TL 300,000,000 will be covered from “Share Premium Reserves” and the remaining TL 200,000,000 will be covered from “Capital Adjustment Positive Differences” accounts as recorded in our TAS/TFRS records and Statement of Financial Position (Balance Sheet),
3. The distribution of 500,000,000 shares with a total nominal value of TL 500,000,000, to be issued at TL 1 per share, free of charge and in proportion to the shareholders’ existing shares in the Company’s capital as follows:
a) Group (A) registered shares: 120,000,000 shares with a nominal value of TL 120,000,000
b) Group (B) registered shares: 380,000,000 shares with a nominal value of TL 380,000,000
in accordance with the Capital Markets Legislation’s regulations regarding the dematerialized system,
4. In the capital increase, shares to be issued will be created as “non-traded on exchange” shares in exchange for existing “non-traded on exchange” shares, and as “traded on exchange” shares in exchange for existing “traded on exchange” shares,
5. To approve the amendment draft of Article 6 titled “Registered Capital” of the Company’s Articles of Association attached hereto regarding the bonus capital increase from internal resources, and to obtain necessary approvals from the Capital Markets Board, Borsa Istanbul A.Ş., and Central Securities Depository A.Ş., among other institutions, for the approval of the issuance document for the shares to be issued upon completion of the bonus capital increase from internal resources and the amendment draft of Article 6 titled “Capital” of the articles of association,
6. Following the completion of necessary approvals and procedures, pursuant to Article 18 of the Capital Markets Law, to carry out the required procedures for the registration and announcement in the trade registry of the new version of Article 6 of our articles of association showing our Company’s issued capital as TL 600,000,000,
7. To authorize Company Officials to conduct all necessary applications, registrations, and procedures related to the bonus capital increase before relevant institutions and to grant them authority in these matters, has been unanimously decided by those present.
Our company’s Investor Relations Manager, Ms. Gonca Çelik, has resigned from her position as of today.
The name, surname and contact information of the newly appointed Investor Relations Department Manager will also be announced to the public in accordance with the Capital Markets Board’s II-17.1 numbered Corporate Governance Communiqué for the Investor Relations Manager position.
Our company has signed “GRP, HDPE100 and Corrugated Pipe” sales contracts on 27.01.2025 (today);
Domestic contract worth 104,520,000.00 TL (VAT Included) for “Infrastructure Drinking Water and Sewerage Construction Pipe Procurement”
International contracts worth 2,110,000.00 USD (75,249,985.00 TL – TCMB foreign exchange selling rate has been used) with Italy and England  for “Infrastructure Pipe Procurement”
The total sales amount of the contracts is 179,769,985.00 TL, and its impact on the 2024 sales target is 3.94%.

Within the framework of corporate identity renewal initiatives launched in accordance with our company’s sustainable growth objectives, we are pleased to announce that the logo design process has been completed. Our company will continue its operations with its new logo, , reflecting our vision and corporate values.

Click here for the new logo.

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