CELEBI GROUND HANDLING 2025 AR

3 Çelebi Ground Handling 2025 Annual Report Demand for air travel increased by 5.3% in 2025, with the overall load factor reaching 83.6%. According to data published by the International Air Transport Association (IATA), total passenger traffic measured in Revenue Passenger Kilometers (RPK) increased by 5.3% in 2025 compared to the previous year. Total capacity, measured in Available Seat Kilometers (ASK), expanded by 5.2%. As a result of these developments, the overall load factor rose to 83.6%, reaching a new annual record high. International passenger traffic increased by 7.1%, while international capacity grew by 6.8%. In the domestic market, passenger traffic rose by 2.4%, accompanied by a 2.5% increase in capacity. In Türkiye, during the January-December 2025 period, domestic commercial aircraft traffic increased by 5.94% and international commercial aircraft traffic by 7.67% compared to the same period of the previous year. Consequently, total commercial aircraft traffic recorded an annual increase of 6.96%. The strong and steady growth in demand for air transportation observed in 2025 further highlighted two key structural challenges facing the industry: the need for decarbonization and ongoing supply chain constraints. According to IATA, airlines have responded to growing demand by keeping aircraft in operation for longer periods and increasing passenger load factors on flights. While load factors approaching 84% demonstrate the effectiveness of this strategy in the short term, they also underscore the industry’s need for more sustainable and long-term solutions. We maintained a balance sheet structure focused on financial resilience during a period characterized by volatile financial conditions. In 2025, in line with our prudent balance sheet management approach, we pursued a balanced growth strategy that prioritized financial resilience while safeguarding asset quality and efficiently managing our resources. Supported by our strong service infrastructure, we achieved successful results both operationally and financially. As of year-end 2025, our consolidated total assets reached TL 24,454 million, while our shareholders’ equity amounted to TL 9,395 million. During the same period, our consolidated revenue totaled TL 18,228 million, with gross profit of TL 6,278 million, operating profit of TL 4,189 million, and net profit for the period of TL 3,724 million. Within the scope of our operations in Türkiye, the number of flights we served increased by 9.97%, reaching 127,568. In 2025, as we continued to invest in line with our growth strategy, our total consolidated capital expenditures on tangible and intangible assets amounted to TL 2,607 million. On 23 December 2025, our subsidiary Çelebi Cargo GmbH, based in Frankfurt, Germany, acquired 100% of the shares of Transglobal Cargo Centre Ltd. (TCC), a company headquartered in Nairobi, the capital of the Republic of Kenya, which provides ground handling, air cargo, and warehouse services at Jomo Kenyatta International Airport. In the coming periods, we will continue to closely monitor and evaluate new opportunities both in Türkiye and internationally. Developments related to our subsidiaries’ operations in India are being closely monitored. The security clearances required for the continuation of the ground handling and air cargo warehousing activities conducted by our subsidiaries in India were revoked by the Bureau of Civil Aviation Security (BCAS) of India, effective 15 May 2025. Following this development, the operations of the relevant subsidiaries have currently been suspended after the respective airport authorities notified the termination of the related concession agreements due to the cancellation of the security clearances. Following this decision, the legal proceedings initiated by our Company before the relevant authorities and judicial bodies remain ongoing.