Form Grup keeps its 10% euro-based growth target, how should exporters prepare for H2?
Form Şirketler Grubu, the Turkish group known as Form Grup, says it closed the first half of 2026 in line with its targets and is keeping its year-end goal of 10% growth in euro terms (Perakende Türkiye, 1 September 2026). For the second half, the focus is on raising exports’ share of growth in existing markets, led by Europe, along with automation investment, energy efficiency projects, and better stock and supply chain management.
If you export, or plan to, here is what the news means for you: in a cautious period the target is held rather than raised, and the currency it is measured in is a deliberate choice. Turnover, actual growth and the export share have not been disclosed, so read the news as a roadmap, not a scoreboard. We follow similar company statements on our retail page, where we interpret the Turkish retail agenda for you.
What target is Form Grup keeping for the second half, and where is it focusing?
Form Grup is keeping its 10% euro-based growth target and focusing on five areas. In the first half, its export-oriented business lines, central air conditioning systems and VRF solutions performed well, and high energy efficiency products supported growth. The second-half plan rests on export share, automation, energy efficiency projects, stock management and the supply chain.
What does a euro-based growth target like Form Grup’s mean for an exporter?
It means separating real growth from the currency effect. A business that earns in euros but measures in Turkish lira can look as if it is growing simply because the lira has weakened. Measuring in euros shows whether you are actually selling more. Note that this target is set in euros, not dollars.
Let’s say you make air conditioning parts and sell them to Europe
Let’s say your month-end report is on the desk in front of you. Lira turnover is up and the team is pleased, but when you look at order volumes, the picture has not moved. On paper you are growing, yet the number of boxes leaving the warehouse is flat. A euro-based target is the question that puts this illusion on the table.
How can an exporting manufacturer protect its target in a cautious second half, as Form Grup plans to?
By being selective rather than ambitious. For climate control manufacturers in Türkiye in autumn 2026, Form Grup’s statement holds three lessons: go deeper in existing markets instead of chasing new ones, put high-efficiency products forward, and tighten stock and the supply chain. All three are decisions that protect cash flow.
Who does Form Grup’s second-half plan affect, and how?
The winners are climate control and heat pump makers with energy-efficient products, and suppliers of automation equipment. Under pressure are small manufacturers that sell only at home and whose range relies on older technology. DIY chains, HVAC installers and dealers, and logistics firms feel it indirectly.
What should change on the digital side for exporters like Form Grup in the second half?
Every place where a foreign buyer finds and checks you needs updating. A purchasing manager in Europe looks at your website, technical documents and references before asking for a quote. If euro pricing, lead times and energy class are missing, the buyer moves on to a competitor without asking a single question.
What should an exporting manufacturer do this week after Form Grup’s update?
BU BÖLÜMÜN ÖZETİ
- Recalculate your first half in euros
- Tell existing buyers about your energy-efficient products
- List slow stock and overdue receivables
This week, rewrite your target in euros and read your first half with the same yardstick. Then pick your three best-selling products and your three most loyal buyers, and build the second-half plan around them. The goal is not new business; it is turning existing business into cash.
Recalculate your first half in euros
Put monthly sales into a table with their euro value and compare them by volume. The table shows whether growth came from the exchange rate or from more orders.
Tell existing buyers about your energy-efficient products
Send your three largest buyers the technical data sheet and delivery schedule for your most energy-efficient product. Open the conversation with operating costs, not price.
List slow stock and overdue receivables
List the products that have been sitting in the warehouse for a long time and the receivables that are past due. To plan market selection, documents and buyer communication together, this is work we do in our foreign trade consultancy.
Quick Summary
- Form Şirketler Grubu is keeping its year-end target of 10% growth in euro terms (Perakende Türkiye, 1 September 2026).
- Export-oriented business lines, central air conditioning systems and VRF solutions performed well in the first half (Perakende Türkiye).
- Second-half priorities are export share, automation, energy efficiency, stock and the supply chain.
- Turnover, actual growth and export share have not been disclosed.
- A euro-based target helps an exporter separate real growth from the currency effect.
Short Glossary
- Euro-based growth
- Euro-based growth is the measure used to strip currency effects out of sales growth by tracking revenue in euro terms.
- VRF
- VRF (variable refrigerant flow) is the central climate control system used to serve several indoor units with a variable flow of refrigerant.
- Stock turnover
- Stock turnover is the efficiency measure used to show how many times inventory is sold and replaced in a given period.
Frequently Asked Questions
Next Step
If you want to rebuild your export target in euros and map out your second-half plan together, fill in our consult your expert form.
Sources: Perakende Türkiye, 1 September 2026 · Other versions of the same statement: Ekonomist, Turkchem · Authority: Ministry of Energy and Natural Resources of Türkiye, Energy Efficiency Law No. 5627
Updated: October 2026
Sık Sorulan Sorular
The report names heat pumps, air handling units and chillers as the standout products. Sales of residential air conditioners rose with seasonal demand. So growth came from more than one source, with both these product groups and seasonal consumer sales playing a part.
Tunç Korun, Chair of the Executive Board at Form Şirketler Grubu, says: “We completed the first half with a performance in line with our targets.” The statement also stresses that macroeconomic conditions call for a more selective and cautious approach in the second half.
According to the statement, the target will be backed by strong cash flow, financial discipline and long-term value creation. That trio suggests growth will be protected through collections and cost control rather than sheer sales volume.
If revenue is in euros and most costs are in lira, you get a currency gain and rising costs at the same time. A euro target forces you to track these two effects separately. Calculating gross margin in euros as well grounds your pricing decisions in the real picture.
Existing customers already know you, your documents and your delivery times. A new market asks for trade fairs, certificates and trial orders. In a cautious period, selling a new product to an existing buyer means faster payment for the same effort.
Yes, because it touches the buyer’s operating costs. In Türkiye, the legal framework is Energy Efficiency Law No. 5627, which aims at the efficient use of energy and the prevention of waste. Verify with the official source; this is not legal or financial advice.
Every part sitting in the warehouse is money that has not reached the bank. In a cautious period, turning stock faster and balancing suppliers by risk eases cash flow. We show how stores standardise stock data with devices through MR.DIY’s 200th store in Türkiye.
According to Korun, rising demand for heat pumps will speed up manufacturer investment across the sector (as reported by Turkchem). For component suppliers, that means new orders, but also tighter quality expectations.
Seasonal demand for residential air conditioners means dealers must build stock around the season. Miss the season and the units sit in the warehouse while the till stays quiet. A sales team that can explain energy efficiency makes the difference on the same shelf.
Each product needs a technical data sheet, energy efficiency details and downloadable documents. Pages in English and in your target market’s language help that market’s buyers find you in search. This is the lowest-cost channel in export marketing.
When order, stock and quote data sit in one place, you can give a buyer a delivery time on the same day. For a retail example of AI-assisted customer experience, see our piece on Migros MAYA AI.
If most of your revenue is in euros, yes; measuring in euros shows your real growth. If most of it is in lira, tracking both measures side by side is the better approach.
No. The statement includes no turnover, actual growth rate or export share; it only says the first half was in line with targets.
Scope depends on the type of business and its energy consumption. Read the law from the official source and get expert advice if needed; this is not legal or financial advice.