Mavi Giyim Sanayi ve Ticaret A.S. (MAVI) Earnings Call Transcripts

Mavi Giyim Sanayi ve Ticaret A.S.'s Latest Earnings Call - Q1 FY2027

In Q1 2026, Mavi Giyim reported a 1.9% year-on-year decline in consolidated revenue, reaching TRY 12.701 billion. EBITDA was TRY 2.5 billion, with a margin of 19.7%, while net income stood at TRY 543 million. Despite the revenue decline, management maintained guidance, citing strong brand positioning and operational resilience. The company plans to continue its retail expansion, particularly in Turkiye and the U.S., aiming for sustainable growth.

Reported metrics

Guidance from management

Management maintained full-year guidance despite changing inflation expectations, emphasizing the importance of the upcoming summer season in assessing performance.

What management said

[Operator Instructions] There are no more questions on the platform. We have a question on the chat green. [indiscernible] is asking, could you please comment on the effective tax rate? Is this higher level new normal now?

Unfortunately, yes. This is something what we are calling out for as I did in my comments. Due to the current inflationary reporting for sites that we are following through are sort of end result of how we end up paying tax as a percentage of what we used to pay, is now going to be higher as we continue to perform better. We will also be in a [indiscernible] published by higher effective tax rates, yes. So the answer...

What analysts pressed on

Analysts expressed concern over the significantly higher effective tax rate due to inflation accounting changes. There were also questions about the potential for new share buyback programs, which management could not confirm at this time.

Main topics on the call

• Revenue Decline — Consolidated revenue declined by 1.9% year-on-year, with Turkish sales down 0.8% and international sales flat in constant currency terms. Management attributed this to geopolitical tensions and adverse weather conditions...
• Gross Margin Improvement — Gross margin improved by 210 basis points to 53.3%, driven by agile sourcing and effective pricing strategies. Management emphasized the strength of their product line capabilities.
• Retail Expansion Plans — Mavi plans to open 15 new stores in Turkiye and 6 in the U.S. by year-end, focusing on enhancing customer experience and increasing sales potential.
• Effective Tax Rate Increase — The effective tax rate increased to 57% from 27% due to changes in inflation accounting, which management noted as a significant factor impacting net income.

Read the full Mavi Giyim Sanayi ve Ticaret A.S. transcript (Q1 FY2027) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 20 Mavi Giyim Sanayi ve Ticaret A.S. earnings call transcripts on record, spanning June 10, 2020 to June 10, 2026. Based on this history, Mavi Giyim Sanayi ve Ticaret A.S. reports semi-annually. The most recent call on file is dated June 10, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MAVI

Exchange

IBSE

Country

TR

Sector

Consumer Discretionary

Industry

Textiles, Apparel and Luxury Goods

Calls on record

20

First call

June 10, 2020

Most recent

June 10, 2026

Reporting cadence

semi-annually