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	607.47	483.96	1,058	630.04
Short-Term Investments	448.64	383.67	180.71	191.21	70.2
Cash & Short-Term Investments	1,016	991.14	664.66	1,249	700.24
Cash Growth	2.54%	49.12%	-46.77%	78.34%	43.32%
Accounts Receivable	3,143	3,328	2,615	2,846	1,345
Other Receivables	469.36	156.43	116.48	231.8	57.65
Receivables	3,613	3,484	2,731	3,078	1,402
Inventory	10,146	11,555	11,046	4,175	1,512
Prepaid Expenses	141.89	151.16	139.74	99.03	54.69
Other Current Assets	1,464	1,711	1,336	1,080	487.71
Total Current Assets	16,381	17,892	15,918	9,681	4,157
Property, Plant & Equipment	6,196	6,312	4,484	2,908	692.28
Long-Term Investments	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	409.68	304.43	130.13	79.1	53.11
Long-Term Deferred Tax Assets	1,151	1,377	607.55	327.64	113.08
Other Long-Term Assets	3,738	4,142	3,023	2,522	559.18
Total Assets	28,719	30,572	24,437	15,620	5,598
Accounts Payable	2,969	1,993	2,259	804.43	646.59
Accrued Expenses	599.47	467.77	400.39	298.05	337.5
Short-Term Debt	1,752	444.49	0.15	3.4	6.63
Current Portion of Long-Term Debt	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	41.54	3.08	60.68	26.4	5.99
Current Unearned Revenue	297.23	551.25	419.03	476.35	495.44
Other Current Liabilities	59.82	56.66	108.51	90.96	42.67
Total Current Liabilities	6,142	3,696	3,353	1,822	1,633
Long-Term Debt	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	5,572	6,756	4,760	3,487	32.21
Pension & Post-Retirement Benefits	283.12	219.04	161.3	154.97	94.78
Long-Term Deferred Tax Liabilities	2,148	2,904	1,463	705.21	99.94
Other Long-Term Liabilities	1,611	1,090	864.4	32.51	7.86
Total Liabilities	16,277	15,195	10,875	6,395	2,028
Common Stock	1,500	1,500	1,500	1,500	1,500
Additional Paid-In Capital	267.05	1,530	1,129	808.61	19.01
Retained Earnings	-7,124	-26,041	-18,497	-14,267	-181.88
Treasury Stock	-	-	-	-93.16	-98.23
Comprehensive Income & Other	8,203	29,080	21,814	14,675	311.29
Total Common Equity	2,846	6,069	5,946	2,623	1,550
Minority Interest	9,596	9,307	7,617	6,602	2,020
Shareholders' Equity	12,442	15,377	13,563	9,225	3,570
Total Liabilities & Equity	28,719	30,572	24,437	15,620	5,598
Total Debt	2,695	1,154	377.38	319.47	265.02
Net Cash (Debt)	-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	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	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

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