IST:KERVN 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	6.02	5.06	6.55	3.34	4.43	4.35
Cash & Short-Term Investments	6.02	5.06	6.55	3.34	4.43	4.35
Cash Growth	18.69%	-22.67%	96.00%	-24.68%	1.93%	-5.43%
Accounts Receivable	78.81	75.79	2.67	4.25	17.96	6.65
Other Receivables	0.48	-	-	-	172.59	188.18
Receivables	81.82	77.4	2.67	4.86	227.78	242.12
Inventory	-	0.01	0.26	0.06	-	6.36
Prepaid Expenses	3.31	11.91	18.33	4.62	4.76	0.29
Other Current Assets	5.93	12.8	8.25	10.11	44.83	28.51
Total Current Assets	97.09	107.19	36.04	22.99	281.8	281.63
Property, Plant & Equipment	1.99	1.39	1.75	1.06	221.46	148.52
Long-Term Investments	972.64	785.94	808.9	360.36	60.58	60.58
Other Intangible Assets	459.63	370.37	378.75	162.63	120.01	0.05
Long-Term Deferred Tax Assets	-	-	22.8	-	-	-
Other Long-Term Assets	8,147	6,522	6,573	2,488	1,134	510.43
Total Assets	9,678	7,787	7,821	3,035	1,818	1,001
Accounts Payable	963.73	627.17	573.94	328.32	182.75	33.17
Accrued Expenses	11.3	50.94	80.09	52.25	46.3	38.76
Short-Term Debt	993.43	778	126.47	-	-	-
Current Portion of Long-Term Debt	4,911	3,710	5,290	2,316	1,694	1,095
Current Income Taxes Payable	0.07	0.07	0.1	0.08	-	-
Current Unearned Revenue	20.28	27.33	142.52	99.04	107.4	92.41
Other Current Liabilities	175.29	172.23	279.8	103.54	55.25	69.86
Total Current Liabilities	7,075	5,365	6,493	2,899	2,085	1,329
Long-Term Debt	121.07	93.08	120.23	53.56	95.6	61.24
Pension & Post-Retirement Benefits	0.69	0.41	0.37	0.75	0.74	0.8
Long-Term Deferred Tax Liabilities	1,129	699.6	655.9	108.99	-	-
Other Long-Term Liabilities	0.62	0.62	0.9	5.06	7.83	0.91
Total Liabilities	8,327	6,159	7,271	3,068	2,190	1,392
Common Stock	588.51	588.51	588.51	588.51	588.51	588.51
Additional Paid-In Capital	185.28	147.72	147.72	62.09	10.92	10.92
Retained Earnings	-8,713	-6,399	-6,794	-2,876	-946.76	-924.61
Comprehensive Income & Other	9,650	7,577	6,858	2,350	76.12	17.09
Total Common Equity	1,711	1,914	800.55	124.9	-271.21	-308.1
Minority Interest	-359.2	-285.9	-249.86	-157.63	-100.61	-82.63
Shareholders' Equity	1,352	1,628	550.69	-32.73	-371.82	-390.72
Total Liabilities & Equity	9,678	7,787	7,821	3,035	1,818	1,001
Total Debt	6,026	4,581	5,537	2,370	1,789	1,156
Net Cash (Debt)	-6,019	-4,576	-5,530	-2,366	-1,785	-1,152
Net Cash Per Share	-10.23	-7.78	-9.40	-4.02	-3.03	-1.96
Filing Date Shares Outstanding	588.51	588.51	588.51	588.51	588.51	588.51
Total Common Shares Outstanding	588.51	588.51	588.51	588.51	588.51	588.51
Working Capital	-6,978	-5,258	-6,457	-2,876	-1,804	-1,047
Book Value Per Share	2.91	3.25	1.36	0.21	-0.46	-0.52
Tangible Book Value	1,252	1,544	421.81	-37.73	-391.22	-308.15
Tangible Book Value Per Share	2.13	2.62	0.72	-0.06	-0.66	-0.52
Land	-	-	-	-	-	40.83
Buildings	-	-	-	-	-	125.03
Machinery	89.59	87.64	123.97	84.29	-	99.32

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