11.03.2025
Odine’s EBITDA Increased by 64% Over the Past 12 Months
Odine, a global technology partner specializing in sustainable network transformation, announces a 64% increase in EBITDA over the past 12 months. In 2024, the company continued to prioritize technology and innovation, achieving a 56% year-over-year growth in net sales revenue, reaching TRY 1.2 billion. Odine’s gross profit rose by 62% to TRY 622 million, with a gross profit margin of 51.83%. Meanwhile, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 64%, reaching TRY 493 million. The company’s net profit for the period also grew by 61%, reaching TRY 402 million.
Enhanced Liquidity Performance
Maintaining strong financial indicators in the fourth quarter, Odine further improved its liquidity ratios, increasing its current ratio from 1,6 to 2,51 and its cash ratio from 0,5 to 1,34. With a solid cash position and sustained positive cash flow, the company continues to accelerate its investments in R&D. In addition to its İstanbul and İzmir R&D centers, Odine has established OdineLabs Inc., a wholly-owned subsidiary in the United States, marking a significant milestone in its global expansion strategy. This new structure strengthens Odine’s R&D capabilities while aiming to broaden its collaborations with leading global technology companies.
Commenting on the company’s year-end financial performance, Odine’s CFO, Ali Yöney, stated:
“Our R&D-driven strategy, strong management team, and newly acquired talent continue to drive our growth. The steps we have taken and our strategic partnerships in line with our global expansion objectives will further advance our company. As we remain committed to developing innovative solutions, we continue to shape our investment plans accordingly.”
Further Info: Odine Investor Relations investorrelations@odine.com / info@odine.com
