IST:KERVN 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	6.18	6.63	6.55	3.34	4.43
Cash & Short-Term Investments	6.18	6.63	6.55	3.34	4.43
Cash Growth	-6.74%	1.22%	96.00%	-24.68%	1.93%
Accounts Receivable	295.72	99.2	2.67	4.25	17.96
Other Receivables	-	-	-	-	172.59
Receivables	297.91	101.31	2.67	4.86	227.78
Inventory	-	0.02	0.26	0.06	-
Prepaid Expenses	4.22	15.59	18.33	4.62	4.76
Other Current Assets	5.97	16.76	8.25	10.11	44.83
Total Current Assets	314.27	140.3	36.04	22.99	281.8
Property, Plant & Equipment	1.98	1.81	1.75	1.06	221.46
Long-Term Investments	1,013	1,029	808.9	360.36	60.58
Other Intangible Assets	489.99	484.78	378.75	162.63	120.01
Long-Term Deferred Tax Assets	-	-	22.8	-	-
Other Long-Term Assets	8,481	8,537	6,573	2,488	1,134
Total Assets	10,300	10,193	7,821	3,035	1,818
Accounts Payable	1,187	820.92	573.94	328.32	182.75
Accrued Expenses	11.01	66.76	80.09	52.25	46.3
Short-Term Debt	1,032	1,018	126.47	-	-
Current Portion of Long-Term Debt	5,093	4,856	5,290	2,316	1,694
Current Income Taxes Payable	-	-	0.1	0.08	-
Current Unearned Revenue	14.04	35.77	142.52	99.04	107.4
Other Current Liabilities	194.24	225.43	279.8	103.54	55.25
Total Current Liabilities	7,532	7,023	6,493	2,899	2,085
Long-Term Debt	125.32	121.83	120.23	53.56	95.6
Pension & Post-Retirement Benefits	0.75	0.54	0.37	0.75	0.74
Long-Term Deferred Tax Liabilities	547.54	915.72	655.9	108.99	-
Other Long-Term Liabilities	0.62	0.82	0.9	5.06	7.83
Total Liabilities	8,206	8,062	7,271	3,068	2,190
Common Stock	588.51	588.51	588.51	588.51	588.51
Additional Paid-In Capital	193.35	193.35	147.72	62.09	10.92
Retained Earnings	-8,420	-8,376	-6,794	-2,876	-946.76
Comprehensive Income & Other	10,095	10,100	6,858	2,350	76.12
Total Common Equity	2,458	2,505	800.55	124.9	-271.21
Minority Interest	-363.03	-374.22	-249.86	-157.63	-100.61
Shareholders' Equity	2,095	2,131	550.69	-32.73	-371.82
Total Liabilities & Equity	10,300	10,193	7,821	3,035	1,818
Total Debt	6,250	5,996	5,537	2,370	1,789
Net Cash (Debt)	-6,244	-5,989	-5,530	-2,366	-1,785
Net Cash Per Share	-10.61	-10.18	-9.40	-4.02	-3.03
Filing Date Shares Outstanding	588.51	588.51	588.51	588.51	588.51
Total Common Shares Outstanding	588.51	588.51	588.51	588.51	588.51
Working Capital	-7,217	-6,883	-6,457	-2,876	-1,804
Book Value Per Share	4.18	4.26	1.36	0.21	-0.46
Tangible Book Value	1,968	2,020	421.81	-37.73	-391.22
Tangible Book Value Per Share	3.34	3.43	0.72	-0.06	-0.66
Machinery	89.88	114.72	123.97	84.29	-

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