GSD Holding A.S. 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	3,981	1,994	1,580	1,501	588.21
Short-Term Investments	-	10.88	81.17	88.21	-
Trading Asset Securities	2,957	3,044	2,027	2,081	416.92
Cash & Short-Term Investments	6,937	5,049	3,687	3,671	1,005
Cash Growth	37.41%	36.91%	0.46%	265.20%	48.37%
Accounts Receivable	2,817	2,922	2,414	3,339	1,136
Other Receivables	29.52	33.08	9.16	3.94	0.61
Receivables	2,847	2,955	2,423	3,343	1,137
Inventory	43.23	14.41	17.27	13.87	4.51
Prepaid Expenses	127.19	79.13	66.75	33.54	8.68
Other Current Assets	24.33	49.7	21.93	38.83	16.12
Total Current Assets	9,979	8,147	6,216	7,100	2,171
Property, Plant & Equipment	9,736	6,607	6,833	3,790	1,642
Long-Term Investments	11.63	8.88	8.88	6.15	12.73
Other Intangible Assets	8.9	6.14	4.76	3.08	0.86
Long-Term Accounts Receivable	805.25	180.3	1.11	5.96	338.3
Long-Term Deferred Tax Assets	-	13.18	2.82	5.52	3.29
Other Long-Term Assets	0.62	0.31	0.07	0.07	0.02
Total Assets	20,541	14,963	13,067	10,911	4,168
Accounts Payable	83.79	81.46	52.59	46.04	8.23
Accrued Expenses	78.34	79.6	46.79	26.43	6.51
Short-Term Debt	1,574	1,816	1,460	1,453	337.8
Current Portion of Long-Term Debt	590.25	373.5	194.93	129.03	113.78
Current Portion of Leases	20.44	14.61	7.39	7.05	1.97
Current Income Taxes Payable	54.79	108.55	73.67	77.08	69.43
Current Unearned Revenue	67.19	22.3	43.11	51.37	16.14
Other Current Liabilities	61.56	52.98	29.8	54.38	19.14
Total Current Liabilities	2,530	2,549	1,909	1,845	573.01
Long-Term Debt	4,608	2,159	886.6	783.18	622.05
Long-Term Leases	-	0.15	2.23	4.31	1.19
Pension & Post-Retirement Benefits	25.73	17.27	8.03	21.34	5.78
Long-Term Deferred Tax Liabilities	32.41	5.13	45.78	60.04	8.11
Total Liabilities	7,196	4,731	2,851	2,713	1,210
Common Stock	1,000	1,000	1,000	1,000	450
Additional Paid-In Capital	637.58	487.11	487.11	337.38	84.59
Retained Earnings	-1,063	-3,441	-3,959	-954.36	1,391
Treasury Stock	-2,482	-1,853	-1,853	-1,283	-39.71
Comprehensive Income & Other	14,395	13,333	13,761	8,641	870.75
Total Common Equity	12,487	9,526	9,437	7,741	2,757
Minority Interest	857.74	706.57	779.43	456.19	201.45
Shareholders' Equity	13,345	10,233	10,216	8,197	2,958
Total Liabilities & Equity	20,541	14,963	13,067	10,911	4,168
Total Debt	6,792	4,363	2,552	2,377	1,077
Net Cash (Debt)	144.8	685.36	1,136	1,294	-71.67
Net Cash Growth	-78.87%	-39.67%	-12.21%	-	-
Net Cash Per Share	-	0.76	1.26	2.84	-0.08
Filing Date Shares Outstanding	-	900	999	455.42	-
Total Common Shares Outstanding	-	900	999	455.42	-
Working Capital	7,449	5,598	4,308	5,255	1,598
Book Value Per Share	-	10.58	9.45	17.00	-
Tangible Book Value	12,478	9,520	9,432	7,738	2,756
Tangible Book Value Per Share	-	10.58	9.44	16.99	-
Buildings	-	0.06	0.06	0.04	0
Machinery	-	7,051	8,626	4,683	1,989
Construction In Progress	-	1,147	278.48	520.81	161.28
Leasehold Improvements	-	-	-	16.16	2.32

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