IST:ARENA 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	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	176.72	902.54	1,080	1,195	494.69	226.58
Short-Term Investments	38.83	53.82	127.23	171.3	-	-
Trading Asset Securities	-	0.74	28.4	-	-	-
Cash & Short-Term Investments	215.55	957.1	1,235	1,366	494.69	226.58
Cash Growth	-47.21%	-22.52%	-9.60%	176.22%	118.33%	65.72%
Accounts Receivable	11,157	6,859	5,969	3,704	2,240	948.6
Other Receivables	221.12	0.1	-	0.04	0.1	0.01
Receivables	11,378	6,859	5,969	3,704	2,240	948.62
Inventory	1,665	1,985	3,300	1,460	901.84	400.82
Prepaid Expenses	51.66	56.41	193.37	30.32	16.05	5.33
Other Current Assets	240.83	400.16	245.57	202.48	61.19	35.64
Total Current Assets	13,551	10,257	10,943	6,763	3,714	1,617
Property, Plant & Equipment	127.78	121.06	119.69	61.9	57.56	26.82
Goodwill	-	327.03	226.51	83.68	83.68	-
Other Intangible Assets	128.66	178.35	209.34	76.2	91	3.56
Long-Term Accounts Receivable	13.56	13.56	14.83	10.03	2.01	2.73
Long-Term Deferred Tax Assets	279.66	237.09	-	31.79	4.58	7.03
Other Long-Term Assets	218.94	108.16	54.57	28.77	15.53	9.34
Total Assets	14,320	11,243	11,568	7,055	3,968	1,666
Accounts Payable	7,046	4,612	5,521	3,312	1,817	569.76
Accrued Expenses	399.84	493.16	487.56	287.46	184.24	23.27
Short-Term Debt	3,801	4,134	2,896	1,558	851.85	385.46
Current Portion of Leases	53.6	29.44	22.94	8.82	10.12	2.8
Current Income Taxes Payable	47.45	5.88	12.24	39.93	1.8	13.32
Current Unearned Revenue	264.62	314.59	469.44	597.46	84.84	57.78
Other Current Liabilities	148.8	471.38	484.29	86.68	0.41	6.82
Total Current Liabilities	11,761	10,060	9,893	5,891	2,950	1,059
Long-Term Debt	-	1.3	62.47	117.72	166.83	-
Long-Term Leases	19.38	31.93	52.57	17.18	18.65	17.59
Pension & Post-Retirement Benefits	47.36	14.89	11.46	38.85	11.49	5.92
Long-Term Deferred Tax Liabilities	21.29	0	31.5	6.53	6.28	-
Other Long-Term Liabilities	-	13.68	10.55	-	-	-
Total Liabilities	11,849	10,122	10,062	6,071	3,154	1,083
Common Stock	100	100	100	100	100	32
Additional Paid-In Capital	1.04	1.04	1.04	1.04	0.72	0.41
Retained Earnings	1,261	169.13	459.93	241.4	157.62	174.64
Comprehensive Income & Other	1,109	850.67	945.41	641.71	556.13	376.7
Total Common Equity	2,471	1,121	1,506	984.15	814.47	583.75
Shareholders' Equity	2,471	1,121	1,506	984.15	814.47	583.75
Total Liabilities & Equity	14,320	11,243	11,568	7,055	3,968	1,666
Total Debt	3,874	4,197	3,034	1,702	1,047	405.84
Net Cash (Debt)	-3,658	-3,239	-1,799	-335.59	-552.76	-179.26
Net Cash Per Share	-36.61	-32.39	-17.99	-3.36	-5.53	-1.79
Filing Date Shares Outstanding	100	100	100	100	100	100
Total Common Shares Outstanding	100	100	100	100	100	100
Working Capital	1,790	197.39	1,050	872.04	763.36	557.78
Book Value Per Share	24.71	11.21	15.06	9.84	8.14	5.84
Tangible Book Value	2,342	615.46	1,071	824.26	639.79	580.19
Tangible Book Value Per Share	23.42	6.15	10.71	8.24	6.40	5.80
Machinery	-	167.67	143.36	78.27	54.36	29.07
Leasehold Improvements	-	209.29	171.7	107.71	74.53	41.3

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.