IST:ARENA Balance Sheet

Financials in millions TRY. Fiscal year is April - March.

Millions TRY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	1,085	434.31	902.54	1,080	1,195	494.69
Short-Term Investments	0.53	-	53.82	127.23	171.3	-
Trading Asset Securities	-	-	0.74	28.4	-	-
Cash & Short-Term Investments	1,086	434.31	957.1	1,235	1,366	494.69
Cash Growth	13.44%	-54.62%	-22.52%	-9.60%	176.22%	118.33%
Accounts Receivable	8,102	9,651	6,859	5,969	3,704	2,240
Other Receivables	183.36	7.28	0.1	-	0.04	0.1
Receivables	8,286	9,658	6,859	5,969	3,704	2,240
Inventory	1,528	2,519	1,985	3,300	1,460	901.84
Prepaid Expenses	32.36	26.27	56.41	193.37	30.32	16.05
Other Current Assets	338.48	644.73	400.16	245.57	202.48	61.19
Total Current Assets	11,271	13,282	10,257	10,943	6,763	3,714
Property, Plant & Equipment	90.63	141.88	121.06	119.69	61.9	57.56
Goodwill	-	250.25	327.03	226.51	83.68	83.68
Other Intangible Assets	174.83	204.91	178.35	209.34	76.2	91
Long-Term Accounts Receivable	13.56	13.56	13.56	14.83	10.03	2.01
Long-Term Deferred Tax Assets	320.89	25.03	237.09	-	31.79	4.58
Other Long-Term Assets	335.4	113.94	108.16	54.57	28.77	15.53
Total Assets	12,206	14,032	11,243	11,568	7,055	3,968
Accounts Payable	5,383	5,609	4,612	5,521	3,312	1,817
Accrued Expenses	185.14	235.02	493.16	487.56	287.46	184.24
Short-Term Debt	3,827	3,907	4,134	2,896	1,558	851.85
Current Portion of Leases	28.28	52.55	29.44	22.94	8.82	10.12
Current Income Taxes Payable	72.24	218	5.88	12.24	39.93	1.8
Current Unearned Revenue	323.08	106.65	314.59	469.44	597.46	84.84
Other Current Liabilities	99.75	621.77	471.38	484.29	86.68	0.41
Total Current Liabilities	9,918	10,749	10,060	9,893	5,891	2,950
Long-Term Debt	-	0.66	1.3	62.47	117.72	166.83
Long-Term Leases	12.69	31.76	31.93	52.57	17.18	18.65
Pension & Post-Retirement Benefits	32.01	18.66	14.89	11.46	38.85	11.49
Long-Term Deferred Tax Liabilities	-	43.06	0	31.5	6.53	6.28
Other Long-Term Liabilities	-	19.3	13.68	10.55	-	-
Total Liabilities	9,963	10,863	10,122	10,062	6,071	3,154
Common Stock	100	100	100	100	100	100
Additional Paid-In Capital	1.04	1.04	1.04	1.04	1.04	0.72
Retained Earnings	1,048	1,972	169.13	459.93	241.4	157.62
Comprehensive Income & Other	1,094	1,096	850.67	945.41	641.71	556.13
Total Common Equity	2,243	3,169	1,121	1,506	984.15	814.47
Shareholders' Equity	2,243	3,169	1,121	1,506	984.15	814.47
Total Liabilities & Equity	12,206	14,032	11,243	11,568	7,055	3,968
Total Debt	3,868	3,992	4,197	3,034	1,702	1,047
Net Cash (Debt)	-2,783	-3,557	-3,239	-1,799	-335.59	-552.76
Net Cash Per Share	-27.83	-35.57	-32.39	-17.99	-3.36	-5.53
Filing Date Shares Outstanding	100	100	100	100	100	100
Total Common Shares Outstanding	100	100	100	100	100	100
Working Capital	1,352	2,533	197.39	1,050	872.04	763.36
Book Value Per Share	22.43	31.69	11.21	15.06	9.84	8.14
Tangible Book Value	2,068	2,714	615.46	1,071	824.26	639.79
Tangible Book Value Per Share	20.68	27.14	6.15	10.71	8.24	6.40
Machinery	-	183.95	167.67	143.36	78.27	54.36
Leasehold Improvements	-	224.19	209.29	171.7	107.71	74.53

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.