DESA Reports TRY 205 Million Net Profit in First Half of 2026

DESA recorded consolidated sales revenue of TRY 2.35 billion and a net profit of TRY 205 million in the first half of 2026. The company’s net cash position reached TRY 1.86 billion, while e-commerce sales grew 82 per cent year on year. DESA also completed the establishment of Nuera A.Ş., a wholly owned subsidiary that will operate in the field of sustainable biomaterials.

DESA Deri Sanayi ve Ticaret A.Ş. (BIST: DESA), one of the companies distinguished by its vertically integrated production structure in Türkiye’s leather and leather goods sector, has announced its financial results for the first half of 2026.

In a period in which macroeconomic uncertainty in global and domestic markets and the effects of cost inflation continued, the company completed the first six months of the year with a net profit of TRY 205 million. DESA’s net cash position at the end of the period stood at TRY 1.86 billion, approximately USD 40 million.

The company noted that its strong cash position provides financial flexibility for technology, sustainability and international investments.

82 per cent growth in e-commerce
Under DESA’s multi-channel sales strategy, the share of retail and e-commerce channels in total turnover rose to 73 per cent.

Driven by the digital infrastructure and technology investments made in 2025, the e-commerce channel grew 82 per cent in the first half of 2026 compared with the same period last year.

Alongside growth in online sales channels, the company’s physical store network and its integration with international digital marketplaces were also key elements of the multi-channel sales model.

Exports up 28.3 per cent in dollar terms
Despite the contraction in the global luxury consumption market, DESA continued to increase its international sales.

The company’s export volume, which was USD 2.7 million in the second quarter of 2025, rose 28.3 per cent in dollar terms to USD 3.47 million in the same period of 2026.

DESA said the increase in export performance was an indication of its strategy of developing its customer portfolio and competitiveness in international markets.

TRY 2.35 billion in sales, TRY 576 million EBITDA
DESA’s consolidated sales revenue in the first half of 2026 was TRY 2,353 million.

With the contribution of a high value-added product range, brand positioning and pricing capability, the company’s gross profit was TRY 1,353 million and its gross profit margin 57.5 per cent.

Disciplined management of operating expenses produced EBITDA of TRY 576 million, with an EBITDA margin of 24.5 per cent.

The company’s net cash position of TRY 1.86 billion stood out as one of the most important indicators of its balance sheet structure.

Nuera established for sustainable biomaterials
Alongside financial performance, technology and sustainability investments also drew attention in DESA’s first-half 2026 results.

On 11 August 2026 the company completed the establishment of its wholly owned subsidiary “Nuera Sürdürülebilir Biyofabrikasyon Teknolojileri Sanayi ve Ticaret A.Ş.”, set up for the research, development, production and commercialisation of next-generation biomaterials.

Through the Nuera investment, DESA aims to pursue new business and product development opportunities in biomaterials and sustainable biofabrication technologies alongside traditional leather and leather goods production.

The investment is regarded as a new stage in the company’s strategy in sustainable materials technology and innovation.

TRY 115 million in dividends to be distributed
In line with the decision taken at DESA’s General Assembly, a total of TRY 115 million in cash dividends is to be distributed from the net distributable profit for 2025.

Dividend payments are planned in three instalments:

30 September 2026: TRY 35 million net
30 October 2026: TRY 40 million net
30 November 2026: TRY 40 million net

“Innovation and sustainability are at the centre of our growth strategy”
In his assessment of the first-half 2026 results, DESA General Manager Burak Çelet drew attention to the company’s strong cash position and its approach to operational efficiency.

Çelet said that despite challenging macroeconomic conditions the first half of the year had been completed with a solid performance thanks to disciplined financial management and a multi-channel growth strategy.

Noting that they were continuing to develop the customer portfolio through growth in retail and e-commerce channels as well as with the contribution of the production facility in Italy, Çelet said the 28.3 per cent dollar-based increase in export volume in the second quarter demonstrated the company’s competitiveness in global markets.

Çelet also emphasised that the establishment of Nuera A.Ş. was a strategic step for DESA in biomaterials and sustainable biofabrication, and said that with the strength of its balance sheet they would continue to focus on operational efficiency and long-term investment.

DESA’s international production and sales network is expanding
Founded in 1972, DESA operates in the leather and leather goods sector with a vertically integrated production model. The company produces at facilities certified by the Leather Working Group (LWG) and holds a significant share of Türkiye’s exports of leather goods and accessories to Italy.

DESA has production facilities in Tekirdağ/Çorlu, Düzce and Istanbul/Sefaköy in Türkiye. In 2024 the company expanded its international production network by obtaining “Made in Italy” customs approval at its facility in Poppi, Italy.

Alongside its retail stores across Türkiye, DESA sells online through desa.com.tr and 1972desa.com and also reaches global consumers through international platforms such as Zalando, Amazon, About You and Otto.

The company’s luxury-positioned 1972 DESA brand is represented at more than 120 international points of sale.