Koç Holding AS said its normalized net income for the fourth quarter was 15 kurus per share, compared with the S&P Capital IQ consensus estimate of 24 kurus per share.
EPS fell 51.9% year over year from 31 kurus.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 383.5 million lira, a decline of 51.9% from 797.1 million lira in the prior-year period.
The normalized profit margin declined to 1.8% from 4.4% in the year-earlier period.
Total revenue increased 16.2% year over year to 21.17 billion lira from 18.22 billion lira, and total operating expenses rose 17.1% from the prior-year period to 19.26 billion lira from 16.45 billion lira.
Reported net income declined 22.7% from the prior-year period to 1.05 billion lira, or 41 kurus per share, from 1.35 billion lira, or 53 kurus per share.
For the year, the company's normalized net income totaled 63 kurus per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.28 lira.
EPS rose from 48 kurus in the prior year.
Normalized net income was 1.59 billion lira, a rise from 1.23 billion lira in the prior year.
Full-year total revenue grew year over year to 70.93 billion lira from 69.49 billion lira, and total operating expenses increased on an annual basis to 65.95 billion lira from 64.18 billion lira.
The company said reported net income fell year over year to 3.46 billion lira, or 1.36 lira per share, in the full year, from 3.57 billion lira, or 1.41 lira per share.
As of Feb. 17, US$1 was equivalent to 3.63 Turkish lira.
