Global Investment Holdings Maintains Strong Growth:  Revenue Up 18%, EBITDA Up 21% in USD terms

Global Investment Holdings (GIH), a diversified group operating across multiple business lines in more than 20 countries on four continents, announced its financial results for the first half of 2026. For the six-month period ended 30 June 2026, the Group’s consolidated revenue excluding IAS 29 inflation accounting effects rose 37% to TRY 13.8 billion, while EBITDA increased 39% to TRY 5.9 billion. On an inflation-adjusted basis, consolidated revenue reached TRY 14.8 billion and EBITDA totaled TRY 6.3 billion, while net profit increased 22% to TRY 2.2 billion. In US dollar terms, consolidated revenue rose 18%, EBITDA increased 21% and net profit grew 38%.

Global Investment Holdings Chairman and CEO Mehmet Kutman said the Group delivered strong growth and improved profitability in the first half of 2026, supported by contributions from its core business lines. “Despite global uncertainties, our diversified portfolio, disciplined management approach and resilient business model enabled us to deliver strong financial and operational results. Passenger movements increased in our Ports business while occupancy remained high, and effective cost management supported strong profitability in our Gas business,” Kutman said.

GIH Chief Financial Officer Ferdağ Ildır said: “Excluding IAS 29 inflation accounting effects, our revenue grew 37% and EBITDA increased 39%. In US dollar terms, revenue rose 18%, EBITDA increased 21% and net profit grew 38%. These results demonstrate our operational strength and disciplined approach to financial management.”

Global Investment Holdings (GIH), a diversified group operating across multiple business lines in more than 20 countries on four continents, maintained its strong financial and operational performance in the first half of 2026, supported by contributions from its core businesses. GIH’s consolidated revenue, excluding the impact of IFRIC 12, reached TRY 14.8 billion in the first half, while consolidated EBITDA totaled TRY 6.3 billion. Net profit increased 22% year over year to TRY 2.2 billion. Excluding IAS 29 inflation accounting effects, consolidated revenue rose 37% to TRY 13.8 billion and EBITDA increased 39% to TRY 5.9 billion. In US dollar terms, consolidated revenue increased 18% to USD 318.3 million, EBITDA rose 21% to USD 136 million and consolidated net profit grew 38% to USD 46.5 million. The financial performance was supported by contributions from the Group’s core business lines, particularly Ports and Gas, together with effective cost management.

“We Maintained Strong Growth and Improved Profitability in the First Half”

Commenting on GIH’s first-half 2026 results, Global Investment Holdings Chairman and CEO Mehmet Kutman said: “At Global Investment Holdings, we maintained strong growth and improved profitability in the first half of 2026, supported by contributions from our core business lines. Despite continued macroeconomic and geopolitical uncertainty, our diversified portfolio, disciplined management approach and resilient business model enabled us to deliver strong financial and operational results. Strong momentum in the global cruise industry continued to support our Ports business. At our consolidated ports, cruise calls increased 8% and passenger movements rose 10%, while occupancy remained between 105% and 107% throughout the first half. We secured a 30-year concession for Ferrol Cruise Port, signed an MoU for St. Vincent and the Grenadines Cruise Port, and increased our stake in Ege Port to 99.99%. In our Gas business, effective cost management and operational efficiency supported strong profitability, while our investment in South Africa marked an important step in our international growth strategy.”

The Hotel in Karaköy is Targeted to Open in Q4 2026

Commenting further on the financial performance of the Group’s businesses, Kutman said: “The first-half performance of our Power business was constrained by weather conditions and, particularly in the second quarter, low market electricity prices. Nevertheless, we continue to advance our long-term strategic investments, led by our Bahamas project, which is scheduled to commence operations in the first half of 2027. In the Mining segment, weaker demand in the European market constrained export volumes, while inflation outpacing currency depreciation affected profitability. Our Real Estate business continued to generate stable cash flow and EBITDA. We completed the Rıhtım 51 Hotel project and plan to open the hotel in Q4 2026. For the remainder of the year, we will remain focused on disciplined capital allocation, operational excellence and sustainable growth,” Kutman said.

“We Support Strong Growth with Improved Profitability and Financial Discipline”

GIH Chief Financial Officer Ferdağ Ildır said: “Despite inflationary pressures and volatility in global markets, we delivered strong revenue and profitability growth in the first half of 2026. Excluding IAS 29 inflation accounting effects, consolidated revenue increased 37% to TRY 13.8 billion and EBITDA rose 39% to TRY 5.9 billion. In US dollar terms, consolidated revenue rose 18%, EBITDA increased 21% and consolidated net profit grew 38%. On an inflation-adjusted basis, net profit increased 22% to TRY 2.2 billion. These results reflect our strong operational performance, the resilience of our diversified portfolio and our disciplined approach to financial management. Consolidated gross debt stood at approximately USD 1.5 billion, with 61% of our debt portfolio comprising financing with maturities exceeding 15 years and secured on a non-recourse basis. Our long-term, low-cost financing structure continues to support our financial flexibility and sustainable growth.”

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