Ihlas Holding A.S. Balance Sheet

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	417.82	464.1	483.96	1,058	630.04	488.6
Short-Term Investments	334.69	293.12	180.71	191.21	70.2	-
Cash & Short-Term Investments	752.51	757.21	664.66	1,249	700.24	488.6
Cash Growth	18.01%	13.92%	-46.77%	78.34%	43.32%	968.00%
Accounts Receivable	3,140	2,542	2,615	2,846	1,345	1,027
Other Receivables	383.35	119.51	116.48	231.8	57.65	11.18
Receivables	3,523	2,662	2,731	3,078	1,402	1,038
Inventory	13,378	8,828	11,046	4,175	1,512	929.7
Prepaid Expenses	125.4	115.37	139.74	99.03	54.69	25.92
Other Current Assets	1,577	1,307	1,336	1,080	487.71	242.86
Total Current Assets	19,356	13,669	15,918	9,681	4,157	2,725
Property, Plant & Equipment	5,881	4,822	4,484	2,908	692.28	345.38
Long-Term Investments	358.77	270.78	116.66	6.52	1.03	-
Other Intangible Assets	215.96	145.5	157.96	95.11	22.51	20.24
Long-Term Accounts Receivable	378.93	232.58	130.13	79.1	53.11	26.14
Long-Term Deferred Tax Assets	1,375	1,052	607.55	327.64	113.08	89.23
Other Long-Term Assets	3,949	3,164	3,023	2,522	559.18	600.82
Total Assets	31,515	23,356	24,437	15,620	5,598	3,807
Accounts Payable	1,654	1,523	2,259	804.43	646.59	211.25
Accrued Expenses	533.1	281.54	400.39	298.05	337.5	38.09
Short-Term Debt	1,572	339.59	0.15	3.4	6.63	42.33
Current Portion of Long-Term Debt	208.41	77.99	50.95	92.25	83	115.23
Current Portion of Leases	76.7	58.86	54.01	30.29	14.95	9.76
Current Income Taxes Payable	42.05	2.36	60.68	26.4	5.99	8.91
Current Unearned Revenue	670.49	421.15	419.03	476.35	495.44	198.13
Other Current Liabilities	35.81	119.11	108.51	90.96	42.67	25.77
Total Current Liabilities	4,793	2,823	3,353	1,822	1,633	649.47
Long-Term Debt	133.12	154.4	15.22	77.53	111.56	267.96
Long-Term Leases	232.76	250.83	257.05	116	48.88	53.93
Long-Term Unearned Revenue	9,025	5,162	4,760	3,487	32.21	815.24
Pension & Post-Retirement Benefits	234.55	167.34	161.3	154.97	94.78	66.82
Long-Term Deferred Tax Liabilities	2,811	2,218	1,463	705.21	99.94	51.37
Other Long-Term Liabilities	1,572	832.91	864.4	32.51	7.86	7.36
Total Liabilities	18,801	11,609	10,875	6,395	2,028	1,912
Common Stock	1,500	1,500	1,500	1,500	1,500	790.4
Additional Paid-In Capital	52.21	1,169	1,129	808.61	19.01	7.95
Retained Earnings	1,647	-19,895	-18,497	-14,267	-181.88	-418.62
Treasury Stock	-	-	-	-93.16	-98.23	-
Comprehensive Income & Other	1,127	21,863	21,814	14,675	311.29	152.86
Total Common Equity	4,326	4,637	5,946	2,623	1,550	532.59
Minority Interest	8,387	7,111	7,617	6,602	2,020	1,362
Shareholders' Equity	12,714	11,748	13,563	9,225	3,570	1,895
Total Liabilities & Equity	31,515	23,356	24,437	15,620	5,598	3,807
Total Debt	2,223	881.67	377.38	319.47	265.02	489.21
Net Cash (Debt)	-1,471	-124.45	287.28	929.32	435.22	-0.61
Net Cash Growth	-	-	-69.09%	113.53%	-	-
Net Cash Per Share	-0.98	-0.08	0.19	0.62	0.32	-0.00
Filing Date Shares Outstanding	1,500	1,500	1,500	1,500	1,415	790.4
Total Common Shares Outstanding	1,500	1,500	1,500	1,500	1,415	790.4
Working Capital	14,564	10,846	12,565	7,859	2,524	2,076
Book Value Per Share	2.88	3.09	3.96	1.75	1.10	0.67
Tangible Book Value	4,110	4,491	5,788	2,528	1,528	512.35
Tangible Book Value Per Share	2.74	2.99	3.86	1.69	1.08	0.65
Land	5,167	4,119	3,606	2,363	614.01	264.63
Machinery	2,982	2,302	2,176	1,381	189.47	148.68
Construction In Progress	-	-	-	-	1.39	1.39

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.