S1
"VESTL" Investor Relations
Location
VESTL Investor's Guide
01
Business and restructuring
Vestel Elektronik operates in consumer electronics, household appliances and digital products across Europe. The company reports approximately 16,000 employees across 31 group companies, including 16 companies based abroad.
Vestel applied on June 26, 2026 to restructure existing consolidated loans so their repayment profile would better match consolidated operating cash flow. Fitch lowered the company IDRs to CCC- and the 2029 bond rating to CC on July 1; Vestel appointed Houlihan Lokey on July 9 to engage noteholders and evaluate alternatives for the Eurobonds.
02
Sponsor and ownership
Zorlu Holding A.S. owns 52.77% of Turkish-incorporated Vestel Elektronik Sanayi ve Ticaret A.S. and holds 52.77% of its voting rights.
Ownership and control
03
Capital structure
The 2029 Eurobond was listed in two components: USD450 million in May 2024 and USD50 million in June 2024, under ISINs XS2817919587 and US92548MAA53.
KAP lists multiple Vestel Elektronik bonds and bills for qualified investors on Borsa Istanbul's debt instruments market, with initial listing or trading dates from January to December 2025. It also records a TRY 1.52 billion domestic bond and bill issuance ceiling for qualified-investor sales from July 17, 2025 to July 17, 2026. The current amount outstanding under these domestic instruments is not disclosed.
Debt instruments
| Instrument | Principal | Maturity | Terms | Seniority / status |
|---|---|---|---|---|
| USD 500 million senior unsecured Eurobond due 2029 | USD 500m | 2029 | - | senior unsecured and unsubordinated |
04
Financial performance
FY2025 figures are IAS 29-adjusted and expressed in Turkish lira purchasing power at December 31, 2025; issuer-defined EBITDA excludes other operating income and expense.
Financial performance
| Period | EBITDA | Net loss | Net sales |
|---|---|---|---|
| 2025 | -TRY 293m | -TRY 31,114m | TRY 138,250m |
05
Sources
| Ref. | Source | Date | Location |
|---|---|---|---|
| "VESTL" Investor RelationsVestel International | 12 Jul 2026 | VESTL Investor's Guide | |
| Kap Notices - Vestel InternationalVestel International | 13 Jul 2026 | Regarding the Application for Financial Restructuring 26.06.2026 | |
| Kap Notices - Vestel InternationalVestel International | 13 Jul 2026 | Fitch Ratings Credit Rating Update 01.07.2026 | |
| Kap Notices - Vestel InternationalVestel International | 13 Jul 2026 | Appointment of a Financial Advisor 09.07.2026 | |
| VESTEL ELEKTRONİK SANAYİ VE TİCARET A.Ş. - KAP Company General InformationPublic Disclosure Platform (KAP) | 12 Jul 2026 | Shareholder / Share in Capital / Voting Right Ratio | Zorlu Holding A.Ş., Diğer and Toplam rows | |
| VESTEL ELEKTRONİK SANAYİ VE TİCARET A.Ş. - KAP Company General InformationPublic Disclosure Platform (KAP) | 12 Jul 2026 | REGISTRATION AND TAX OFFICE INFORMATION | |
| VESTEL ELEKTRONİK SANAYİ VE TİCARET A.Ş. - KAP Company General InformationPublic Disclosure Platform (KAP) | 12 Jul 2026 | Type of The Listed/Trading Capital Market Instrument | Rows for domestic Tahvil/Bono instruments and USD 450 million and USD 50 million Eurobond entries | |
| Vestel Elektronik Listing Particulars for USD Senior Notes due 2029Euronext Dublin / Vestel Elektronik | May 2024 | Terms and Conditions of the Notes - Status / Ranking | |
| VESTEL ELEKTRONİK SANAYİ VE TİCARET A.Ş. - KAP Company General InformationPublic Disclosure Platform (KAP) | 12 Jul 2026 | Type of Capital Market Instrument / Issue Ceiling | Tahvil/Bono row | |
| Vestel Elektronik 4Q25 / FY2025 Earnings PresentationVestel Elektronik | 2026 | Page 4 | |
| Vestel Elektronik 4Q25 / FY2025 Earnings PresentationVestel Elektronik | 2026 | Page 4 |
Documents
| Document | Date | Type | Access |
|---|---|---|---|
| "VESTL" Investor RelationsVestel International | 12 Jul 2026 | Company Website | |
| Kap Notices - Vestel InternationalVestel International | 13 Jul 2026 | Company Website | |
| VESTEL ELEKTRONİK SANAYİ VE TİCARET A.Ş. - KAP Company General InformationPublic Disclosure Platform (KAP) | 12 Jul 2026 | Regulatory Filing | |
| Vestel Elektronik Listing Particulars for USD Senior Notes due 2029Euronext Dublin / Vestel Elektronik | May 2024 | Regulatory Filing | |
| Vestel Elektronik 4Q25 / FY2025 Earnings PresentationVestel Elektronik | 2026 | Investor Presentation |