Mavi Revises Consolidated Revenue Growth Expectations for 2024 Downward

Foreks - Mavi has downwardly revised its consolidated revenue growth expectation for 2024. In a statement made to the Public Disclosure Platform, it was noted that "due to the impact of the slowdown in the Turkish economy on operations being higher than expected, the expectations for 2024, previously provided excluding inflation accounting, are revised as follows." Accordingly, the previously expected consolidated revenue growth of 70% ± 5% has been redefined as 60% +. The forecast for 15 net new store openings has been revised to 17 net new stores and a growth of 10 store square meters, along with a store square meter growth of 15. The expectations for EBITDA margin, previously set at 20% ± 0.5% (excluding TFRS16) and 23.5% ± 0.5% (including TFRS16), have been updated to 18.5 + (excluding TFRS16) and 22.0 + (including TFRS16), respectively. The net debt/EBITDA expectation has been revised from "increased net cash position" to "unchanged". Investment expenditures have been reduced from 5% of consolidated revenue to 4%.