Global Investment Holdings Maintains Strong Growth: Revenue and EBITDA Up 13% 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 nine months of 2026. For the nine-month period ended 30 September 2026, the Group’s consolidated revenue excluding IAS 29 inflation accounting effects rose 35% to TRY 21.1 billion, while EBITDA increased 35% to TRY 9.2 billion. On an inflation-adjusted basis, consolidated revenue reached TRY 23.2 billion and EBITDA totaled TRY 10.2 billion, while net profit increased 14% to TRY 3.1 billion. In US dollar terms, consolidated revenue rose 13%, EBITDA increased 13% and net profit grew 25%.

Global Investment Holdings Chairman and CEO Mehmet Kutman said the Group maintained growth and improved profitability in the first nine months of 2026, supported by contributions from its core business lines. “Despite global and geopolitical 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 we achieved balanced growth in our Gas business through a strong operational structure and effective cost management During this period, in which inflation-driven cost pressures and market volatility affected our business lines to varying degrees, we continued to translate our operational strength into profitability,” Kutman said.

GIH Chief Financial Officer Ferdağ Ildır said: “Excluding IAS 29 inflation accounting effects, our revenue and EBITDA each grew 35%. In US dollar terms, revenue and EBITDA rose 13%, while net profit grew 25%. 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 nine months of 2026, supported by contributions from its core businesses. GIH’s consolidated revenue, excluding the impact of IFRIC 12, reached TRY 23.2 billion in the nine-month period, while consolidated EBITDA totaled TRY 10.2 billion. Net profit increased 14% year over year to TRY 3.1 billion. Excluding IAS 29 inflation accounting effects, consolidated revenue and EBITDA each rose 35% to TRY 21.1 billion and TRY 9.2 billion, respectively. In US dollar terms, consolidated revenue increased 13% to USD 473 million, EBITDA rose 13% to USD 208 million and consolidated net profit grew 25% to USD 62.8 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 Nine Months of 2026”

Commenting on GIH’s financial results, Global Investment Holdings Chairman and CEO Mehmet Kutman said: “At Global Investment Holdings, we maintained strong growth and improved profitability in the first nine months 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 9% and passenger movements rose 11%, while occupancy remained between 105% and 115% during the January–August period.

Cruise lines’ booking outlook for 2027 and beyond also supports the industry’s growth potential. Increasing our stake in Lisbon to 60%, signing a 30-year concession agreement for St. Vincent and extending the Barcelona concession to 2050, with an option for a further extension to 2053, were important steps towards capturing this potential. In our Gas business, we increased sales volumes by 4% despite weather conditions and customers’ earlier-than-anticipated transitions to pipeline supply. While maintaining our leading position in the domestic market, we remain committed to pursuing our international growth strategy.”

The Hotel in Karaköy is Targeted to Open in Q4 2026

Commenting further on the activities of the Group’s businesses, Kutman said: “In our Power business, seasonal conditions and low market electricity prices, particularly in the first half of the year, constrained production and profitability. During this period, we also focused on completing our investment in the Bahamas. In the Mining segment, weaker demand in the European market constrained export volumes, while inflation outpacing currency depreciation continued to affect 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 at the end of 2026. While taking account of short-term fluctuations in the markets in which we operate, we remain focused on increasing our portfolio’s long-term revenue and cash generation capacity,” Kutman said.

“We Support Operational Growth with Our Long-Term Financing Structure”

GIH Chief Financial Officer Ferdağ Ildır said: “Despite inflationary pressures and volatility in global markets, we delivered consolidated revenue and profitability growth above inflation in the first nine months of 2026. Excluding IAS 29 inflation accounting effects, consolidated revenue increased 35% to TRY 21.1 billion and EBITDA rose 35% to TRY 9.2 billion. In US dollar terms, both consolidated revenue and EBITDA increased 13%, while consolidated net profit grew 25%. On an inflation-adjusted basis, net profit increased 14% to TRY 3.1 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 1.6 billion, with 60% of our debt portfolio comprising long-term project financing and financing obtained without Group guarantees. Our long-term, low-cost financing structure continues to support our financial flexibility and sustainable growth.”

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