CEO Message

Dear Stakeholders,

As of January 1, 2026, I have the honor of assuming the role of CEO at Brisa. In this first message shared within our Annual Report, I extend my respectful greetings to you all. Brisa, with its deep-rooted expertise in tire manufacturing, has evolved into an integrated mobility solutions company by combining innovation, technology, and sustainability. With this leadership transition, I am fully confident that we will continue to achieve pioneering successes in the sector in the new era.

The year 2025 was marked by fluctuations in global trade balances and volatility in financial markets, alongside transformative shifts impacting our industry and the broader mobility ecosystem. In this context, financial resilience and strategic focus have become more critical than ever.

We have left behind a year in which market and Customer expectations in the tire industry underwent significant transformation, while global and local economic conditions created demand fluctuations. At Brisa, despite the challenging market environment, we maintained our strategic focus and accelerated our technology investments. With our high value-added products and integrated service solutions, we reinforced our market strength.

The automotive industry is undergoing a majör transformation, driven by electrification and the growing preference for SUVs. In parallel, Brisa has sustained its leading position in the evolving tire sector while resolutely advancing future-oriented investments. With new product launches focused on the premium segment—including high-rim tires—we achieved above-market growth in this category, reaching a 21% market share, while maintaining our leadership in the replacement market with a 28% overall share. Our locally developed Lassa Revola, Türkiye’s first tire compatible with electric and hybrid vehicles, was recognized with the Selected Product of the Year award. Through our R&D efforts, we introduced 68 new products to the market as of the year 2025.

We further strengthened our role as a preferred strategic partner for automotive manufacturers by actively contributing to numerous new projects, particularly in hybrid and electric vehicles. At our Aksaray plant, we launched new technologies that opened a new era in premium tire production. Following our İzmit plant, we also implemented advanced compound technologies in Aksaray, elevating our production of high-tech tires compatible with electric and hybrid vehicles. In addition, our Aksaray plant earned the IATF 16949 certification, the highest quality standard in the automotive industry. With İzmit plant having successfully maintained this certification since 2007, both of our production plants are now fully aligned with global automotive manufacturing standards.

On the international front, our Lassa brand continued to deliver strong performance. According to Capital 500 and TİM Golden Exporters’ data, Lassa became the export leader of Türkiye’s tire industry. In line with our long-term growth ambitions in North Africa, we opened our first retail store in Cairo, Egypt.

In the field of integrated mobility solutions, our Arvento brand has surpassed 840,000 active devices. We expect Arvento’s newly launched mobile applications, Rotawatt and Arvento Connect, to deliver measurable contributions in the near future. We also expanded our practical service network to 157 locations across Türkiye, enhancing our services for electric and hybrid vehicles. In line with our goal of being the preferred partner for fleet customers, we manage a fleet pool of 242,000 vehicles through our broad range of services, extending from tire retreading to digital tracking solutions.

Throughout these initiatives, our customer-centric approach, strong operational performance, and disciplined financial management enabled us to navigate 2025 with resilience despite challenging macroeconomic conditions. In the first half of the year, declining demand, disrupted price-cost balances due to macroeconomic imbalances, and high financing expenses led us to record a loss for the first time in many years. However, we regained momentum in the third and fourth quarters, partially offsetting the earlier losses and closing the year near breakeven when excluding one-off effects. Additionally, we strengthened our cash flow. In 2025, our sales revenue reached 41.3 billion TL, with hard currency revenues accounting for 42%. We closed the year with 3.1 billion TL in operating profit and 5.4 billion TL in EBITDA, while maintaining a very low Net Debt/EBITDA ratio of 0.8x thanks to our strong cash generation capacity.

We continued to transform our business processes with a firm commitment to digitalization and sustainability. In digitalization, we became the first industrial company in Türkiye to certify compliance with the national AI trust standard—a significant milestone.

On sustainability, we reinforced our global leadership once again in 2025. We were included in the CDP Global A List for Climate Change and Water Security and published our first Sustainability Report in compliance with the Turkish Sustainability Reporting Standards. In line with our decarbonization roadmap, following the successful implementation at our Aksaray plant, we launched our second heat pump project at the İzmit plant in collaboration with Enerjisa Enerji, with an installed capacity of 4.8 MW.

At Brisa, occupational health and safety is an inseparable part of our business. Guided by our vision of “Excellence in Occupational Health and Safety,” we prioritize creating a safe and healthy working environment for our employees. At the same time, we embrace equal opportunity and inclusivity as fundamental principles. In 2025, we were among the pioneering companies participating in the United Nations Global Compact’s Gender Equality Program.

As we reflect on 2025, I extend my heartfelt gratitude to all our colleagues for their dedicated contributions, and to you, our valued stakeholders, for standing with us on this journey. Looking ahead, with our talented workforce, strong corporate culture, and the support of our business partners, we will continue to advance Brisa with determination toward our sustainable growth objectives.

Respectfully,

Vecih Yılmaz
CEO