Ihlas 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	567.62	464.1	483.96	1,058	630.04
Short-Term Investments	448.64	293.12	180.71	191.21	70.2
Cash & Short-Term Investments	1,016	757.21	664.66	1,249	700.24
Cash Growth	34.21%	13.92%	-46.77%	78.34%	43.32%
Accounts Receivable	3,143	2,542	2,615	2,846	1,345
Other Receivables	494.56	119.51	116.48	231.8	57.65
Receivables	3,638	2,662	2,731	3,078	1,402
Inventory	10,146	8,828	11,046	4,175	1,512
Prepaid Expenses	918.82	115.37	139.74	99.03	54.69
Other Current Assets	662.26	1,307	1,336	1,080	487.71
Total Current Assets	16,381	13,669	15,918	9,681	4,157
Property, Plant & Equipment	6,196	4,822	4,484	2,908	692.28
Long-Term Investments	604.58	270.78	116.66	6.52	1.03
Other Intangible Assets	239.12	145.5	157.96	95.11	22.51
Long-Term Accounts Receivable	409.68	232.58	130.13	79.1	53.11
Long-Term Deferred Tax Assets	1,151	1,052	607.55	327.64	113.08
Other Long-Term Assets	3,738	3,164	3,023	2,522	559.18
Total Assets	28,719	23,356	24,437	15,620	5,598
Accounts Payable	2,969	1,523	2,259	804.43	646.59
Accrued Expenses	257.41	281.54	400.39	298.05	337.5
Short-Term Debt	1,787	339.59	0.15	3.4	6.63
Current Portion of Long-Term Debt	387.71	77.99	50.95	92.25	83
Current Portion of Leases	-	58.86	54.01	30.29	14.95
Current Income Taxes Payable	-	2.36	60.68	26.4	5.99
Current Unearned Revenue	297.23	421.15	419.03	476.35	495.44
Other Current Liabilities	443.42	119.11	108.51	90.96	42.67
Total Current Liabilities	6,142	2,823	3,353	1,822	1,633
Long-Term Debt	520.3	154.4	15.22	77.53	111.56
Long-Term Leases	-	250.83	257.05	116	48.88
Long-Term Unearned Revenue	5,572	5,162	4,760	3,487	32.21
Pension & Post-Retirement Benefits	283.12	167.34	161.3	154.97	94.78
Long-Term Deferred Tax Liabilities	2,148	2,218	1,463	705.21	99.94
Other Long-Term Liabilities	1,611	832.91	864.4	32.51	7.86
Total Liabilities	16,277	11,609	10,875	6,395	2,028
Common Stock	1,500	1,500	1,500	1,500	1,500
Additional Paid-In Capital	267.05	1,169	1,129	808.61	19.01
Retained Earnings	-7,124	-19,895	-18,497	-14,267	-181.88
Treasury Stock	-	-	-	-93.16	-98.23
Comprehensive Income & Other	8,203	21,863	21,814	14,675	311.29
Total Common Equity	2,846	4,637	5,946	2,623	1,550
Minority Interest	9,596	7,111	7,617	6,602	2,020
Shareholders' Equity	12,442	11,748	13,563	9,225	3,570
Total Liabilities & Equity	28,719	23,356	24,437	15,620	5,598
Total Debt	2,695	881.67	377.38	319.47	265.02
Net Cash (Debt)	-1,679	-124.45	287.28	929.32	435.22
Net Cash Growth	-	-	-69.09%	113.53%	-
Net Cash Per Share	-	-0.08	0.19	0.62	0.32
Filing Date Shares Outstanding	-	1,500	1,500	1,500	1,415
Total Common Shares Outstanding	-	1,500	1,500	1,500	1,415
Working Capital	10,239	10,846	12,565	7,859	2,524
Book Value Per Share	-	3.09	3.96	1.75	1.10
Tangible Book Value	2,607	4,491	5,788	2,528	1,528
Tangible Book Value Per Share	-	2.99	3.86	1.69	1.08
Land	-	4,119	3,606	2,363	614.01
Machinery	-	2,302	2,176	1,381	189.47
Construction In Progress	-	-	-	-	1.39

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.