The Numbers Behind Metro Holding: 5 Striking Facts You Probably Didn’t Know
When most people in Turkey hear "Metro," they immediately think of the white fleet of buses spanning the country. The brand "Metro Turizm" is well known in the intercity transportation sector. However, those buses are just the tip of the iceberg.
Behind them lies Metro Ticari ve Mali Yatırımlar Holding A.Ş. (Metro Commercial and Financial Investments Holding) — a company that reports hundreds of millions in profit with zero revenue, executes strategic operations on the Georgian stock exchange, and maintains a vast investment network stretching from energy to mining.
In this article, we dive into Metro Holding’s world of numbers through its most recent publicly available financial reports and data. Here are five eye-opening facts about the company’s financial structure, stock performance, and strategic vision — many of which you may not know.
1. Profit Without Revenue: The Surprising Financial Picture of a Holding Company
Typically, we assume a company must generate revenue before it can report a profit. But Metro Holding’s financials turn this assumption on its head. For the first nine months of 2025, the company reported a net profit of 244,066,945 TL, compared to a net loss of 79,583,381 TL during the same period in 2024 — a stunning 406.68% turnaround.
What’s even more surprising is that the income statement for this period shows "Revenue" as zero. So how does a company report such substantial profits without any sales? The answer lies in the nature of its business model.
Metro Holding operates as an "Investment Company" — meaning its core activity is not selling products or services, but managing a portfolio of subsidiaries and profiting from the appreciation of these investments. According to the footnotes in the financial reports, the bulk of the profit comes from a line item under "Other Operating Income", specifically 186.4 million TL from the fair value increase of financial investments — essentially, the revaluation of subsidiaries.
2. A Relentless Climb in 2025: Stock Performance That Stands Out
Traded under the ticker METRO on Borsa Istanbul (BIST), Metro Holding shares delivered impressive returns for investors in 2025. The company’s positive financial trajectory was strongly reflected in its stock price.
During the first nine months of 2025 (January 1 – September 30), the stock rose significantly. After hitting a low of 2.24 TL on March 24, 2025, the share price began a strong upward trend, reaching an intraday high of 4.88 TL on August 26. By September 1, it closed at 4.64 TL, marking a gain of over 100% in less than six months.
As of October 20, 2025, the stock’s annual return stands at 139.81%, further solidifying its remarkable performance.
3. More Than Buses: A Broad Spectrum from Tourism to Mining
Metro Holding is far more than a transportation company. Its strength and resilience come from strategic diversification across multiple sectors, enabling it to mitigate the risks of sector-specific downturns.
As highlighted in the company’s activity report:
"The variety in our subsidiaries’ sectors helps prevent total exposure to possible crises within any single industry."
Here are some of the key sectors and companies in Metro Holding’s portfolio:
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Tourism & Transportation: Metro Turizm Seyahat Organizasyon ve Ticaret A.Ş. is described as Turkey’s largest intercity passenger transport company by number of passengers.
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Energy & Facilities Management: Mepet Metro Petrol ve Tesisleri San. ve Tic. A.Ş. operates in the fuel station and roadside facility sectors.
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Food Production: Vanet Gıda Sanayi İç ve Dış Ticaret A.Ş. specializes in processed meats and delicatessen products.
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Mining & Energy: Subsidiaries such as Metro Maden Pazarlama Dağıtım Hizmetleri A.Ş. and Metro Grup Elektrik Enerjisi Toptan Satış A.Ş. represent the company’s footprint in mining and energy.
4. Cross-Border Moves: Strategic Activity on the Georgian Stock Exchange
Metro Holding’s vision extends beyond Turkey’s borders. One of its key international investments is Metro Euphoria Hotel Batumi JSC, which owns and operates the EUPHORIA HOTEL in Batumi, Georgia.
The shares of this subsidiary were listed on the Georgian Stock Exchange in 2020. However, in a significant move announced via Turkey’s Public Disclosure Platform (KAP) on September 11, 2025, the company’s board approved a share buyback program to delist the subsidiary from the Georgian exchange — signaling a strategic financial repositioning.
5. The People Behind the Power: A Diverse and Experienced Leadership Team
As with any successful enterprise, Metro Holding is steered by an experienced leadership team. Erkut Öztürk serves as the Chairman of the Board. Key shareholders include Fatma Öztürk Gümüşsu (27.778%) and Ayten Öztürk Ünal (11.995%).
The board features individuals from various fields, enhancing the company's leadership depth. Notably, the independent board members include Fevzi Şanverdi, a former Member of Parliament for Hatay, and Fatih Aydoğan, a law professor at Istanbul University — highlighting the board's intellectual and regulatory expertise.
Conclusion
The facts and figures make one thing clear: Metro Holding is far more than the bus company many perceive it to be. Its ability to generate massive profits with zero revenue, its diversified portfolio spanning numerous industries, and its cross-border strategic plays make it a dynamic and complex investment holding.
In light of all this, one question naturally arises:
With such a diverse portfolio and agile strategy, what surprising move might Metro Holding make next?