IST:GEREL 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	82.81	31.63	44.13	78.08	98.24	58.36
Cash & Short-Term Investments	82.81	31.63	44.13	78.08	98.24	58.36
Cash Growth	107.08%	-28.33%	-43.47%	-20.53%	68.33%	24.66%
Accounts Receivable	756.2	858.91	590.62	439	273.42	146.71
Other Receivables	24.04	20.09	6.61	0.02	0.22	0.06
Receivables	780.24	879	597.22	439.03	273.64	146.77
Inventory	2,468	1,918	1,158	340.12	316.32	103.53
Prepaid Expenses	322.18	39.88	65.17	32.98	4.06	0.36
Restricted Cash	-	-	-	-	1.56	0.52
Other Current Assets	94.91	323.86	436.22	91.04	68.06	13.03
Total Current Assets	3,748	3,192	2,301	981.24	761.89	322.58
Property, Plant & Equipment	2,108	1,866	1,819	592.13	412.28	105.57
Other Intangible Assets	10.62	10.93	12.45	1.63	1.53	0.2
Long-Term Deferred Tax Assets	-	-	58.87	30.74	13.55	29.13
Other Long-Term Assets	173.64	194.07	11.03	10.6	20.91	12.5
Total Assets	6,040	5,263	4,202	1,616	1,210	469.99
Accounts Payable	522.62	382.04	1,453	352.55	182.75	79.85
Accrued Expenses	63.71	186	62.91	90.03	21.97	9.18
Short-Term Debt	771.39	689.61	158	85.52	78.04	55.23
Current Portion of Long-Term Debt	282.72	269.73	461.06	209.84	125.34	79.81
Current Income Taxes Payable	8.16	3.55	16.98	23.12	10.52	1.89
Current Unearned Revenue	122.26	93.22	58.18	73.26	132.35	16.61
Other Current Liabilities	72.38	10.53	16	17.72	13.58	1.28
Total Current Liabilities	1,843	1,635	2,226	852.05	564.55	243.86
Long-Term Debt	340.43	159.23	225.63	48.54	80.7	64.43
Long-Term Leases	-	32.44	4.94	-	-	-
Pension & Post-Retirement Benefits	-	161.66	143.05	22.37	13.13	2.17
Long-Term Deferred Tax Liabilities	107.9	24.12	-	-	-	-
Other Long-Term Liabilities	145.42	-	447.68	45.43	51.84	27.05
Total Liabilities	2,437	2,012	3,048	968.39	710.23	337.52
Common Stock	372.48	372.48	240	80	80	80
Additional Paid-In Capital	2,237	2,033	259.94	363.86	252.02	47.5
Retained Earnings	413.23	386.03	249.86	-896.67	-505.68	14.58
Comprehensive Income & Other	568.07	459.09	415.83	1,101	674.66	-8.73
Total Common Equity	3,591	3,250	1,166	647.87	501	133.35
Minority Interest	12.43	0.43	-11.25	0.07	-1.07	-0.87
Shareholders' Equity	3,603	3,251	1,154	647.94	499.94	132.47
Total Liabilities & Equity	6,040	5,263	4,202	1,616	1,210	469.99
Total Debt	1,395	1,151	849.63	343.9	284.08	199.48
Net Cash (Debt)	-1,312	-1,119	-805.5	-265.82	-185.84	-141.11
Net Cash Per Share	-	-3.01	-3.36	-1.11	-0.77	-0.59
Filing Date Shares Outstanding	-	372.48	240	240	240	240
Total Common Shares Outstanding	-	372.48	240	240	240	240
Working Capital	1,905	1,557	74.49	129.19	197.33	78.72
Book Value Per Share	-	8.73	4.86	2.70	2.09	0.56
Tangible Book Value	3,580	3,240	1,153	646.24	499.47	133.14
Tangible Book Value Per Share	-	8.70	4.80	2.69	2.08	0.55
Land	-	4.98	5.23	5.76	4.17	12.17
Buildings	-	717.61	707.91	576.83	403.78	79.68
Machinery	-	723.1	682.4	491.99	340.08	63.18
Construction In Progress	-	1,147	1,099	41.54	19.61	4.89
Leasehold Improvements	-	-	-	-	1.34	0.24

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