Hat-San Gemi İnşaat reports a net loss of 604.3 million TL for 2026, a stark contrast to last year's profit of 333.6 million TL.
Hat-San Shipbuilding Maintenance Repair Maritime Transportation Industry and Trade Inc., traded under the code HATSN on Borsa İstanbul, completed the first nine months of 2026 with a net loss of 604.3 million TL. The company had reported a net profit of 333.6 million TL in the same period last year.
According to the financial statements submitted to the Public Disclosure Platform (KAP) on October 27, 2026, the company's sales revenues for the period from January 1 to September 30 decreased by 42.4% compared to the same period of the previous year, falling from 4.25 billion TL to 2.45 billion TL.
Sales costs exceeded revenues.
Hat-San Ship's nine-month sales cost was 3.02 billion TL, resulting in a gross loss of 574.9 million TL for the company.
The company's announcement of a loss this year, compared to a gross profit of 385.6 million TL in the same period last year, became one of the most striking indicators of the change in financial results.
The operating result also turned from a profit of 436.3 million TL in the first nine months of 2025 to a loss of 669.2 million TL in the same period of 2026.
The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased from 570.3 million TL in the same period last year to negative 263.3 million TL.
Third quarter loss of 212.8 million TL.
Hat-San Ship reported a net loss of 212.8 million TL for the July-September period alone.
During the nine-month period, financing expenses amounted to 138.6 million TL, while net monetary position gains were recorded at 98.1 million TL.
The company's pre-tax loss reached 684.7 million TL, and after accounting for 80.4 million TL in deferred tax income, the net loss for the period was recorded as 604.3 million TL.
The company's total debts rose to 2.91 billion TL.
As of September 30, 2026, Hat-San Ship's total assets were reported at 9.53 billion TL. This figure is below the level of 9.61 billion TL at the end of 2025.
The company's total liabilities increased from 2.40 billion TL at the end of 2025 to 2.91 billion TL, while its equity decreased from 7.21 billion TL to 6.61 billion TL.
At the end of the period, short-term liabilities amounted to 2.27 billion TL, and long-term liabilities were 640.8 million TL.
The company's cash and cash equivalents were recorded at 433.9 million TL, and total financial borrowings were approximately 809 million TL.
Hat-San Ship's nine-month balance sheet.
Financial indicator.
Sales revenues.
+385.6 million TL.
-574.9 million TL.
Operating profit/loss.
+436.3 million TL.
-669.2 million TL.
+570.3 million TL.
-263.3 million TL.
+333.6 million TL.
-604.3 million TL.
Source: Financial statements dated October 27, 2026. Amounts are rounded.
The financial results announced by Hat-San Ship indicate that the company experienced a significant decline in both sales revenues and operational profitability during the nine-month period.
The company's third-quarter activity report for 2026 was also shared with the public via KAP on October 27.
Source: SeaNews Türkiye
