IST:ARSAN Balance Sheet

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	1,686	2,644	1,278	157.84	43.01
Short-Term Investments	-	193.35	631.25	95.61	-
Cash & Short-Term Investments	1,686	2,837	1,909	253.45	43.01
Cash Growth	-40.58%	48.64%	653.12%	489.22%	-37.02%
Accounts Receivable	295.62	3.83	64.03	269.08	111.29
Other Receivables	79.15	35.77	15.02	4.15	0.02
Receivables	374.76	39.6	79.05	273.23	111.31
Inventory	77.4	84.13	1.61	292.76	70.09
Prepaid Expenses	5.55	0.92	-	2.58	0.17
Other Current Assets	117.98	54.97	37.49	31.55	7.57
Total Current Assets	2,262	3,017	2,027	853.57	232.15
Property, Plant & Equipment	4,030	2,317	1,704	1,122	299.69
Long-Term Investments	3,376	2,124	1,501	1,035	181.62
Goodwill	36.49	-	-	-	-
Other Intangible Assets	9.02	10.62	8.18	0.47	0.08
Long-Term Deferred Tax Assets	160.01	-	-	249.48	14.53
Long-Term Deferred Charges	-	-	-	8.61	5.29
Other Long-Term Assets	2,993	2,830	2,138	794.69	349.06
Total Assets	12,866	10,298	7,378	4,064	1,082
Accounts Payable	14.95	6.39	31.78	114.16	34.94
Accrued Expenses	36.17	94.62	25.6	27.29	18.98
Short-Term Debt	16.26	59.98	90.42	131.84	0.06
Current Portion of Long-Term Debt	-	2.62	84.72	114.9	32.52
Current Portion of Leases	2.26	0.95	20.6	16.32	10.21
Current Income Taxes Payable	20.86	-	9.99	3.03	1.45
Current Unearned Revenue	12.51	8.93	2.67	14.08	6.75
Other Current Liabilities	2.95	6.57	5.64	22.55	3.12
Total Current Liabilities	105.96	180.05	271.41	444.18	108.04
Long-Term Debt	19.11	1.31	15.97	17.13	18
Long-Term Leases	-	-	0.82	14.96	14.1
Long-Term Unearned Revenue	-	-	-	-	0
Pension & Post-Retirement Benefits	7.2	8.56	7.24	35.24	6.26
Long-Term Deferred Tax Liabilities	1,528	657.59	650.08	-	29.47
Total Liabilities	1,660	847.51	945.52	511.51	175.88
Common Stock	1,762	204.45	204.45	204.45	204.45
Retained Earnings	6,980	6,086	3,840	2,214	474.64
Comprehensive Income & Other	1,879	2,561	1,933	870.79	169.52
Total Common Equity	10,621	8,852	5,978	3,289	848.61
Minority Interest	584.47	598.92	455.07	263.04	57.92
Shareholders' Equity	11,206	9,451	6,433	3,552	906.53
Total Liabilities & Equity	12,866	10,298	7,378	4,064	1,082
Total Debt	37.63	64.86	212.52	295.16	74.9
Net Cash (Debt)	1,648	2,772	1,696	-41.72	-31.89
Net Cash Growth	-40.55%	63.44%	-	-	-
Net Cash Per Share	0.94	1.57	0.96	-0.02	-0.02
Filing Date Shares Outstanding	1,762	1,762	1,762	1,762	1,762
Total Common Shares Outstanding	1,762	1,762	1,762	1,762	1,762
Working Capital	2,156	2,837	1,755	409.4	124.11
Book Value Per Share	6.03	5.02	3.39	1.87	0.48
Tangible Book Value	10,576	8,841	5,969	3,289	848.53
Tangible Book Value Per Share	6.00	5.02	3.39	1.87	0.48
Land	3,085	1,770	1,296	420.9	152.77
Buildings	462.37	8.13	6.21	556.69	126.82
Machinery	758.76	751.68	532.93	3,297	254.01
Construction In Progress	254.16	67.05	39	-	0.03
Leasehold Improvements	-	167.38	126.17	87.33	5.75

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