IST:ARFYE Balance Sheet

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	256.45	542.13	1.46	19.66	33.96	44.79
Short-Term Investments	-	0.32	-	-	0.27	0.04
Accounts Receivable	342.1	160.75	671.67	538.48	214.7	149.89
Other Receivables	11.33	2.23	0.03	2.8	0.06	0
Inventory	49.07	26.34	16.53	22.89	6.19	1.14
Prepaid Expenses	6.48	39.03	4.98	-	-	-
Other Current Assets	112.22	0.14	2.36	1.26	1.5	1.02
Total Current Assets	1,312	770.94	697.03	585.09	256.69	196.89
Property, Plant & Equipment	1,258	1,214	1,024	864.44	401.01	271.14
Other Intangible Assets	0.99	0.95	0.76	0.58	0.18	0.03
Long-Term Accounts Receivable	-	-	-	-	41.13	-
Other Long-Term Assets	109.13	105.69	89.99	53.46	18.52	13.41
Total Assets	2,680	2,092	1,812	1,504	717.54	481.47
Accounts Payable	31.03	26.79	23.87	7.14	10.81	1.32
Accrued Expenses	6.55	0.72	2.07	0.73	2.23	0.91
Short-Term Debt	83.74	118.9	89.19	18.71	13.08	3.85
Current Portion of Long-Term Debt	124.09	123.56	52.13	48.33	32.71	24.58
Current Unearned Revenue	1.01	0.76	1.78	2.08	4.11	1.77
Current Income Taxes Payable	-	-	-	31.05	2.55	6.04
Other Current Liabilities	42.02	135.07	32.95	23.35	13.13	9.64
Total Current Liabilities	289.95	405.79	201.99	131.4	78.62	48.12
Long-Term Debt	114.49	133.16	100.33	114.43	94	87.55
Pension & Post-Retirement Benefits	1.86	3.07	1.78	0.53	0.24	0.04
Long-Term Deferred Tax Liabilities	197.64	168.07	141.15	129.64	59.97	32.89
Other Long-Term Liabilities	9.24	44.35	158.89	139.43	40.08	18.23
Total Liabilities	617.61	754.44	604.14	515.43	272.92	186.82
Common Stock	182.84	147.34	147.34	147.34	105.24	105.24
Additional Paid-In Capital	662.38	32.26	32.26	32.26	72.26	32.26
Retained Earnings	101.11	92.8	214.27	206.3	105.11	100.1
Comprehensive Income & Other	1,116	1,065	813.72	602.24	162.01	57.05
Shareholders' Equity	2,062	1,337	1,208	988.14	444.62	294.65
Total Liabilities & Equity	2,680	2,092	1,812	1,504	717.54	481.47
Total Debt	328.27	375.62	241.65	181.48	139.8	115.98
Net Cash (Debt)	462.32	166.84	-240.19	-161.82	-105.56	-71.15
Net Cash Per Share	2.94	1.13	-1.63	-1.10	-1.00	-1.73
Filing Date Shares Outstanding	182.84	150.5	147.34	147.34	110.5	41.2
Total Common Shares Outstanding	182.84	150.5	147.34	147.34	110.5	41.2
Working Capital	1,022	365.15	495.04	453.69	178.06	148.77
Book Value Per Share	11.28	8.89	8.20	6.71	4.02	7.15
Tangible Book Value	2,061	1,336	1,207	987.56	444.44	294.62
Tangible Book Value Per Share	11.27	8.88	8.19	6.70	4.02	7.15
Land	273.28	-	213.95	161.15	2.04	0.63
Machinery	1,147	-	901.41	747.73	353.63	252.01
Construction In Progress	2.96	-	0.49	0.11	59.01	22.76