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 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	515.8	567.62	607.47	483.96	1,058	630.04
Short-Term Investments	380.03	448.64	383.67	180.71	191.21	70.2
Cash & Short-Term Investments	895.83	1,016	991.14	664.66	1,249	700.24
Cash Growth	12.83%	2.54%	49.12%	-46.77%	78.34%	43.32%
Accounts Receivable	3,383	3,143	3,328	2,615	2,846	1,345
Other Receivables	626.27	469.36	156.43	116.48	231.8	57.65
Receivables	4,009	3,613	3,484	2,731	3,078	1,402
Inventory	11,155	10,146	11,555	11,046	4,175	1,512
Prepaid Expenses	1,032	141.89	151.16	139.74	99.03	54.69
Other Current Assets	645.62	1,464	1,711	1,336	1,080	487.71
Total Current Assets	17,737	16,381	17,892	15,918	9,681	4,157
Property, Plant & Equipment	7,082	6,196	6,312	4,484	2,908	692.28
Long-Term Investments	667.49	604.58	354.43	116.66	6.52	1.03
Other Intangible Assets	-	239.12	190.45	157.96	95.11	22.51
Long-Term Accounts Receivable	439.02	409.68	304.43	130.13	79.1	53.11
Long-Term Deferred Tax Assets	1,207	1,151	1,377	607.55	327.64	113.08
Other Long-Term Assets	4,642	3,738	4,142	3,023	2,522	559.18
Total Assets	31,775	28,719	30,572	24,437	15,620	5,598
Accounts Payable	3,007	2,969	1,993	2,259	804.43	646.59
Accrued Expenses	384	599.47	467.77	400.39	298.05	337.5
Short-Term Debt	2,136	1,752	444.49	0.15	3.4	6.63
Current Portion of Long-Term Debt	359.16	387.71	102.09	50.95	92.25	83
Current Portion of Leases	-	35.55	77.04	54.01	30.29	14.95
Current Income Taxes Payable	14.22	41.54	3.08	60.68	26.4	5.99
Current Unearned Revenue	392.69	297.23	551.25	419.03	476.35	495.44
Other Current Liabilities	353.4	59.82	56.66	108.51	90.96	42.67
Total Current Liabilities	6,646	6,142	3,696	3,353	1,822	1,633
Long-Term Debt	919.06	141.97	202.1	15.22	77.53	111.56
Long-Term Leases	-	378.33	328.32	257.05	116	48.88
Long-Term Unearned Revenue	6,473	5,572	6,756	4,760	3,487	32.21
Pension & Post-Retirement Benefits	318.24	283.12	219.04	161.3	154.97	94.78
Long-Term Deferred Tax Liabilities	2,387	2,148	2,904	1,463	705.21	99.94
Other Long-Term Liabilities	1,613	1,611	1,090	864.4	32.51	7.86
Total Liabilities	18,356	16,277	15,195	10,875	6,395	2,028
Common Stock	1,500	1,500	1,500	1,500	1,500	1,500
Additional Paid-In Capital	293.86	267.05	1,530	1,129	808.61	19.01
Retained Earnings	-7,871	-7,124	-26,041	-18,497	-14,267	-181.88
Treasury Stock	-	-	-	-	-93.16	-98.23
Comprehensive Income & Other	9,177	8,203	29,080	21,814	14,675	311.29
Total Common Equity	3,100	2,846	6,069	5,946	2,623	1,550
Minority Interest	10,319	9,596	9,307	7,617	6,602	2,020
Shareholders' Equity	13,418	12,442	15,377	13,563	9,225	3,570
Total Liabilities & Equity	31,775	28,719	30,572	24,437	15,620	5,598
Total Debt	3,414	2,695	1,154	377.38	319.47	265.02
Net Cash (Debt)	-2,518	-1,679	-162.9	287.28	929.32	435.22
Net Cash Growth	-	-	-	-69.09%	113.53%	-
Net Cash Per Share	-	-1.12	-0.11	0.19	0.62	0.32
Filing Date Shares Outstanding	-	1,500	1,500	1,500	1,500	1,415
Total Common Shares Outstanding	-	1,500	1,500	1,500	1,500	1,415
Working Capital	11,091	10,239	14,197	12,565	7,859	2,524
Book Value Per Share	-	1.90	4.05	3.96	1.75	1.10
Tangible Book Value	3,100	2,607	5,879	5,788	2,528	1,528
Tangible Book Value Per Share	-	1.74	3.92	3.86	1.69	1.08
Land	-	5,325	5,392	3,606	2,363	614.01
Machinery	-	3,209	3,014	2,176	1,381	189.47
Construction In Progress	-	-	-	-	-	1.39

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