Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₺16,500, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 21x in the Renewable Energy industry in Turkey. Total returns to shareholders of 6,842% over the past three years. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₺15,590, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 20x in the Renewable Energy industry in Turkey. Total returns to shareholders of 5,409% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₺14,648, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 20x in the Renewable Energy industry in Turkey. Total returns to shareholders of 5,305% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₺12,890, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 19x in the Renewable Energy industry in Turkey. Total returns to shareholders of 5,576% over the past three years. Reported Earnings • Oct 29
Third quarter 2025 earnings released Third quarter 2025 results: Net loss: ₺125.8m (loss widened 221% from 3Q 2024). Buy Or Sell Opportunity • Oct 28
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 45% to ₺18,200. The fair value is estimated to be ₺14,394, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₺16,478, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 19x in the Food industry in Turkey. Total returns to shareholders of 6,606% over the past three years. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₺14,853, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 19x in the Food industry in Turkey. Total returns to shareholders of 6,406% over the past three years. New Risk • Jun 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Turkish stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Shareholders have been substantially diluted in the past year (69% increase in shares outstanding). Minor Risk Revenue is less than US$5m (₺62m revenue, or US$1.6m). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₺13,993, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 16x in the Food industry in Turkey. Total returns to shareholders of 5,811% over the past three years. Valuation Update With 7 Day Price Move • May 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₺13,010, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 24x in the Food industry in Turkey. Total returns to shareholders of 5,544% over the past three years. New Risk • Apr 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Turkish stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (69% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Revenue is less than US$5m (₺55m revenue, or US$1.4m). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₺14,000, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 24x in the Food industry in Turkey. Total returns to shareholders of 5,390% over the past three years. Announcement • Mar 26
Lydia Yesil Enerji Kaynaklari A.S., Annual General Meeting, Apr 29, 2025 Lydia Yesil Enerji Kaynaklari A.S., Annual General Meeting, Apr 29, 2025. Location: movenpick hotel istanbul bosphorus, barbaros bulvari no.165 besiktas, istanbul Turkey Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: ₺508 (vs ₺41.50 in FY 2023) Full year 2024 results: EPS: ₺508 (up from ₺41.50 in FY 2023). Net income: ₺960.4m (up ₺914.0m from FY 2023). Over the last 3 years on average, earnings per share has increased by 141% per year but the company’s share price has increased by 235% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 04
Third quarter 2024 earnings released Third quarter 2024 results: Net loss: ₺39.2m (loss widened ₺39.1m from 3Q 2023). New Risk • Oct 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 69% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (69% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Revenue is less than US$5m (₺35m revenue, or US$1.0m). Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Net income: ₺76.0m (up ₺72.8m from 2Q 2023). Reported Earnings • Jun 23
First quarter 2024 earnings released: EPS: ₺32.81 (vs ₺7.01 loss in 1Q 2023) First quarter 2024 results: EPS: ₺32.81 (up from ₺7.01 loss in 1Q 2023). Net income: ₺36.7m (up ₺43.8m from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has increased by 255% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: ₺41.50 (vs ₺22.50 loss in FY 2022) Full year 2023 results: EPS: ₺41.50 (up from ₺22.50 loss in FY 2022). Revenue: ₺49.5m (up 4.8% from FY 2022). Net income: ₺46.4m (up ₺71.6m from FY 2022). Profit margin: 94% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 224% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 09
Third quarter 2023 earnings released: ₺0.11 loss per share (vs ₺2.85 loss in 3Q 2022) Third quarter 2023 results: ₺0.11 loss per share (improved from ₺2.85 loss in 3Q 2022). Revenue: ₺5.48m (down 33% from 3Q 2022). Net loss: ₺121.3k (loss narrowed 96% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 86% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: ₺2.81 (vs ₺1.56 loss in 2Q 2022) Second quarter 2023 results: EPS: ₺2.81 (up from ₺1.56 loss in 2Q 2022). Revenue: ₺12.5m (up 82% from 2Q 2022). Net income: ₺3.15m (up ₺4.89m from 2Q 2022). Profit margin: 25% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 122% per year, which means it is well ahead of earnings. New Risk • Aug 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Turkish stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₺14m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 53% per year over the past 5 years. Revenue is less than US$1m (₺27m revenue, or US$988k). Minor Risk Market cap is less than US$100m (₺1.10b market cap, or US$40.7m). New Risk • Jul 18
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: ₺27m (US$992k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₺14m free cash flow). Earnings have declined by 53% per year over the past 5 years. Revenue is less than US$1m (₺27m revenue, or US$992k). Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (₺494.1m market cap, or US$18.3m). New Risk • Jul 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Turkish stocks, typically moving 9.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₺14m free cash flow). Earnings have declined by 53% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Revenue is less than US$5m (₺27m revenue, or US$1.0m). Market cap is less than US$100m (₺397.9m market cap, or US$15.2m). New Risk • Jun 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 99x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₺14m free cash flow). Earnings have declined by 53% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 99x increase in shares outstanding). Minor Risk Revenue is less than US$5m (₺27m revenue, or US$1.1m). Reported Earnings • Mar 16
Full year 2022 earnings released Full year 2022 results: Revenue: ₺25.1m (up 197% from FY 2021). Net loss: ₺9.28m (loss widened 60% from FY 2021). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • May 12
First quarter 2022 earnings released: ₺0.84 loss per share (vs ₺0.25 profit in 1Q 2021) First quarter 2022 results: ₺0.84 loss per share (down from ₺0.25 profit in 1Q 2021). Revenue: ₺2.87m (up 43% from 1Q 2021). Net loss: ₺944.2k (down 479% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 243% per year, which means it is well ahead of earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ₺5.79 loss per share (down from ₺4.67 loss in FY 2020). Revenue: ₺8.46m (up 99% from FY 2020). Net loss: ₺5.79m (loss widened 24% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 260% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2021 earnings released The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: ₺3.41m (up ₺2.95m from 2Q 2020). Net loss: ₺1.07m (loss widened 283% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 272 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 11
First quarter 2021 earnings released: EPS ₺0.25 (vs ₺0.76 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₺2.01m (up 125% from 1Q 2020). Net income: ₺248.9k (up ₺1.01m from 1Q 2020). Profit margin: 12% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 254 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 14
Full year 2020 earnings released The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ₺4.26m (up 29% from FY 2019). Net loss: ₺4.67m (loss widened 291% from FY 2019). Is New 90 Day High Low • Feb 14
New 90-day high: ₺405 The company is up 5.0% from its price of ₺388 on 16 November 2020. The Turkish market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 15
New 90-day low: ₺237 The company is down 47% from its price of ₺444 on 15 September 2020. The Turkish market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 12% over the same period. Is New 90 Day High Low • Sep 22
New 90-day high: ₺531 The company is up 3,080% from its price of ₺16.71 on 24 June 2020. The Turkish market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is down 1.0% over the same period. 
