Migros Ticaret A.S. announced consolidated earnings results for the first quarter of 2018. For the quarter, sales rose by 26.5% and reached TRY 3,940 million. Furthermore, 35.5% growth of consolidated EBITDA is higher than the consolidated sales growth of the Company. The operational profitability improved over a year ago. The consolidated EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) reached TRY 211 million, with a margin of 5.4% in the first three months of 2018. The company generated TRY 423 million EBITDAR (EBITDA before rent) representing a margin of 10.7%. The company's operational profitability is undermined by mostly non-cash FX losses and one-off charges resulting in a consolidated net loss of TRY 241 million.

After a strong top-line growth of 2017, the consolidated sales growth of the company is expected to be between 15%-18% in 2018. The company aims to reach the consolidated EBITDA margin range of 5.5%-6.0% in 2018.