GSD Holding A.S. Balance Sheet

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

Millions TRY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	3,900	3,981	2,610	1,580	1,501	588.21
Short-Term Investments	-	-	-	81.17	88.21	-
Trading Asset Securities	3,550	2,957	3,984	2,027	2,081	416.92
Cash & Short-Term Investments	7,450	6,937	6,594	3,687	3,671	1,005
Cash Growth	51.39%	5.20%	78.83%	0.46%	265.20%	48.37%
Accounts Receivable	3,690	2,817	3,825	2,414	3,339	1,136
Other Receivables	44.97	11.78	89.17	9.16	3.94	0.61
Receivables	3,735	2,829	3,914	2,423	3,343	1,137
Inventory	23.98	43.23	18.87	17.27	13.87	4.51
Prepaid Expenses	229.71	127.19	103.58	66.75	33.54	8.68
Other Current Assets	23.95	42.07	33.43	21.93	38.83	16.12
Total Current Assets	11,462	9,979	10,664	6,216	7,100	2,171
Property, Plant & Equipment	11,005	9,736	8,648	6,833	3,790	1,642
Long-Term Investments	13.69	11.63	11.63	8.88	6.15	12.73
Other Intangible Assets	9.46	8.9	8.03	4.76	3.08	0.86
Long-Term Accounts Receivable	924.09	805.25	235.99	1.11	5.96	338.3
Long-Term Deferred Tax Assets	-	-	10.53	2.82	5.52	3.29
Other Long-Term Assets	0.86	0.62	0.41	0.07	0.07	0.02
Total Assets	23,415	20,541	19,579	13,067	10,911	4,168

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Accounts Payable	128.16	83.79	106.63	52.59	46.04	8.23
Accrued Expenses	43.13	116.78	104.2	46.79	26.43	6.51
Short-Term Debt	2,334	1,574	2,378	1,460	1,453	337.8
Current Portion of Long-Term Debt	640.54	590.25	488.88	194.93	129.03	113.78
Current Portion of Leases	15.28	20.44	19.12	7.39	7.05	1.97
Current Income Taxes Payable	49.12	54.79	142.09	73.67	77.08	69.43
Current Unearned Revenue	70.41	67.19	29.19	43.11	51.37	16.14
Other Current Liabilities	71.69	23.13	69.35	29.8	54.38	19.14
Total Current Liabilities	3,353	2,530	3,337	1,909	1,845	573.01
Long-Term Debt	4,719	4,608	2,826	886.6	783.18	622.05
Long-Term Leases	-	-	0.19	2.23	4.31	1.19
Pension & Post-Retirement Benefits	35.54	25.73	22.61	8.03	21.34	5.78
Long-Term Deferred Tax Liabilities	75.29	32.41	-	45.78	60.04	8.11
Total Liabilities	8,182	7,196	6,185	2,851	2,713	1,210

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Common Stock	1,000	1,000	1,000	1,000	1,000	450
Additional Paid-In Capital	750.79	637.58	637.58	487.11	337.38	84.59
Retained Earnings	-1,521	-1,063	-4,504	-3,959	-954.36	1,391
Treasury Stock	-2,985	-2,482	-2,425	-1,853	-1,283	-39.71
Comprehensive Income & Other	16,931	14,395	17,761	13,761	8,641	870.75
Total Common Equity	14,175	12,487	12,469	9,437	7,741	2,757
Minority Interest	1,057	857.74	924.85	779.43	456.19	201.45
Shareholders' Equity	15,233	13,345	13,394	10,216	8,197	2,958
Total Liabilities & Equity	23,415	20,541	19,579	13,067	10,911	4,168

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Total Debt	7,709	6,792	5,711	2,552	2,377	1,077
Net Cash (Debt)	-258.75	144.8	882.84	1,136	1,294	-71.67
Net Cash Growth	-	-83.60%	-22.28%	-12.21%	-	-
Net Cash Per Share	-	0.16	0.98	1.26	2.84	-0.08
Filing Date Shares Outstanding	-	887.82	900.6	999	455.42	-
Total Common Shares Outstanding	-	887.82	900.6	999	455.42	-
Working Capital	8,110	7,449	7,327	4,308	5,255	1,598
Book Value Per Share	-	14.06	13.85	9.45	17.00	-
Tangible Book Value	14,166	12,478	12,461	9,432	7,738	2,756
Tangible Book Value Per Share	-	14.05	13.84	9.44	16.99	-
Buildings	-	0.07	0.07	0.06	0.04	0
Machinery	-	9,512	9,229	8,626	4,683	1,989
Construction In Progress	-	2,487	1,501	278.48	520.81	161.28
Leasehold Improvements	-	37.07	33.54	-	16.16	2.32