Turkish shipbuilder Özata Shipyard reported a net loss of TRY574.05 million for the first nine months of 2026, widening from TRY70.69 million a year earlier, as revenue fell and non-operating expenses weighed on earnings.
According to its unconsolidated financial statements filed with Türkiye’s Public Disclosure Platform (KAP) on 30 October, revenue declined 14.3% to TRY2.18 billion.
Operating profit fell to TRY113.28 million from TRY322.79 million. Investment-related expenses, finance costs and a deferred tax charge contributed to the overall loss, although the company remained profitable in the third quarter, earning TRY62.74 million.
Operating activities consumed TRY995.04 million in cash during the nine months, while fixed asset disposals generated TRY1.46 billion.
These included the sale of the DOK-6 floating dock for $7.65 million in March. The company said its larger DOK-1 dock could accommodate Panamax vessels, making the smaller facility unnecessary.
Cash and cash equivalents increased to TRY245.62 million at the end of September, while financial borrowings totalled approximately TRY2.01 billion.
Separately, Özata Shipyard completed four overseas ship repair contracts in October, with their combined value rising to $5.605 million following additional work requests.
