EspressoLab Founder Requests Change in Initial Public Offering Criteria

Esat Kocadağ, the third-generation representative of the SÜTİŞ brand and founder of EspressoLab, stated that the company continues to grow despite boycotts and argued that current initial public offering (IPO) criteria should be updated to suit new-generation corporate structures.

Growth and Profits Continue Despite Boycotts

EspressoLab founder Esat Kocadağ shared with the public via social media that the company continues to grow and make a profit despite being boycotted. It was stated that financial performance remained strong despite the boycott period.

Financial Data and EBITDA Targets

Esat Kocadağ announced that in 2024, prior to the boycott, the EBITDA figure was 29 million dollars, and in 2025, despite the boycotts, an EBITDA of 19.9 million dollars was achieved. It was reported that the company aims to close the current year at an EBITDA level of 25 to 26 million dollars.

Asset Size Criterion Barrier

It was stated that the company meets the turnover criteria but struggles with the asset size criterion. It was disclosed that they fell short of the 3.6 billion TL asset size requirement sought for an IPO by approximately 281 million TL.

Capital Markets and New-Generation Companies

Kocadağ emphasized that it should be debated whether current IPO criteria are adequately suited for profitable, low-debt new-generation Turkish companies that increase their revenues from abroad.