IST:ARASE Balance Sheet

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	1,645	874.58	1,140	716.41	167.03
Accounts Receivable	6,846	6,278	6,943	4,033	995.04
Other Receivables	83.14	88.63	24.37	0.97	1.66
Inventory	284.99	215.28	234.94	157.92	34.98
Prepaid Expenses	22.26	1.33	51.68	7.52	6.94
Other Current Assets	353.3	332.25	136.81	331.01	373.42
Total Current Assets	9,234	7,790	8,531	5,247	1,579
Property, Plant & Equipment	538.19	508.92	432.73	215.17	17.95
Other Intangible Assets	1,992	1,782	1,930	1,440	182.19
Long-Term Deferred Tax Assets	5,490	4,760	5,422	211.66	59.19
Long-Term Accounts Receivable	9,106	8,058	7,480	4,062	1,086
Other Long-Term Assets	10.04	2.8	0.98	1.42	0.99
Total Assets	26,371	22,902	23,796	11,177	2,926
Accounts Payable	2,488	2,506	1,672	1,981	707.06
Accrued Expenses	200.42	232.33	414.5	205.04	38.82
Short-Term Debt	-	-	-	164.77	-
Current Portion of Long-Term Debt	464.73	593.91	634.02	166.07	32.79
Current Unearned Revenue	14.7	94.66	179.32	62.78	35.28
Current Portion of Leases	114.16	92.41	47.92	34.01	5.31
Current Income Taxes Payable	27.13	12.9	9.11	166.6	1.28
Other Current Liabilities	1,632	1,452	1,493	1,311	391.29
Total Current Liabilities	4,941	4,985	4,450	4,091	1,212
Long-Term Debt	2,169	2,240	3,944	1,857	178.61
Long-Term Leases	139.68	165.1	148.74	118.41	6.29
Long-Term Unearned Revenue	0.28	0.14	0.26	-	-
Pension & Post-Retirement Benefits	29.87	48.08	20.86	28.13	7.18
Long-Term Deferred Tax Liabilities	1,575	1,279	728.99	142.65	5.08
Other Long-Term Liabilities	207.53	204.18	434.15	284.61	118.26
Total Liabilities	9,062	8,921	9,727	6,523	1,527
Common Stock	250	250	250	67	67
Retained Earnings	15,749	12,644	12,733	4,143	1,332
Comprehensive Income & Other	1,310	1,087	1,087	444.87	-
Shareholders' Equity	17,309	13,981	14,070	4,655	1,399
Total Liabilities & Equity	26,371	22,902	23,796	11,177	2,926
Total Debt	2,888	3,091	4,775	2,341	223
Net Cash (Debt)	-1,242	-2,217	-3,634	-1,624	-55.97
Net Cash Per Share	-4.97	-8.87	-14.54	-6.50	-0.22
Filing Date Shares Outstanding	250	250	250	250	250
Total Common Shares Outstanding	250	250	250	250	250
Working Capital	4,294	2,805	4,081	1,155	367.24
Book Value Per Share	69.24	55.92	56.28	18.62	5.59
Tangible Book Value	15,317	12,199	12,140	3,214	1,216
Tangible Book Value Per Share	61.27	48.80	48.56	12.86	4.87
Buildings	28.8	24.68	24.68	17.09	3.94
Machinery	59.9	50.33	39.72	26.17	4.9
Construction In Progress	-	-	5.15	-	-

Source: S&P Global Market Intelligence. Utility template. Financial Sources.