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Doğan Holding (DOHOL) 3Q26 Financial Results

Tacirler Investment

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Doğan Holding reported revenue of TL30.0bn, EBITDA of TL6.0bn and net profit of TL2.0bn in 3Q26. Net profit rose from TL165mn a year earlier, supported by stronger operations and investment income. Financing costs and tax expenses limited the improvement. We view the results positively, as the clear improvement in operating margins points to a strong quarter. Following the results, we maintain our 12-month target price of TL34.40 and BUY recommendation. Our target price offers 96% upside from yesterday’s close.

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