IST:MERCN 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	326.47	137.37	173.95	176.83	197.81	55.74
Short-Term Investments	57.47	50.78	100.68	162.76	116.94	55.91
Cash & Short-Term Investments	383.94	188.15	274.62	339.59	314.74	111.65
Cash Growth	39.61%	-31.49%	-19.13%	7.89%	181.90%	512.97%
Accounts Receivable	743.07	513.35	629.66	776.25	477.46	169.41
Other Receivables	57.69	17.79	19.61	27	25.43	14.04
Receivables	800.76	531.14	649.26	803.25	502.89	183.45
Inventory	537.75	480.34	351.66	532.6	576.31	211.2
Prepaid Expenses	144.43	7.58	39.32	8.99	3.04	1.18
Other Current Assets	99.01	73.51	7.25	54.68	27.05	9.6
Total Current Assets	1,966	1,281	1,322	1,739	1,424	517.07
Property, Plant & Equipment	1,532	1,429	1,141	865.56	366.31	84.72
Long-Term Investments	69.5	64.23	102.38	89.75	-	-
Other Intangible Assets	124	24.66	37.04	20.2	8.22	1.42
Long-Term Deferred Tax Assets	-	-	-	-	5.46	6.79
Long-Term Deferred Charges	-	70.12	49.64	33.73	16.21	3.3
Other Long-Term Assets	961.98	1,051	899.68	604.59	256.12	55.38
Total Assets	4,653	3,920	3,552	3,353	2,076	668.68
Accounts Payable	13.2	189.54	152.81	185.64	82.04	65.58
Accrued Expenses	43.01	31.69	21.57	18.65	12.58	3.76
Short-Term Debt	1,315	819.99	785.32	771.78	592.52	120.69
Current Portion of Long-Term Debt	10.44	13.38	55.98	76.85	96.4	53.69
Current Portion of Leases	22.34	28.87	111.2	114.83	10.03	4.07
Current Income Taxes Payable	-	6.82	15.77	7.32	5.56	-
Current Unearned Revenue	28.12	7.24	11.81	27.23	39.17	5.74
Other Current Liabilities	120.3	141.06	2.26	154.6	0.98	0.51
Total Current Liabilities	1,552	1,240	1,157	1,361	839.28	279.39
Long-Term Debt	300.6	118.5	2.64	10.83	5.11	22.3
Long-Term Leases	-	3.32	31.32	49.85	7.31	7.14
Pension & Post-Retirement Benefits	6.36	5.97	3.74	2.4	4.5	1.99
Long-Term Deferred Tax Liabilities	144.27	130.69	20.69	37.83	-	-
Total Liabilities	2,003	1,499	1,215	1,462	856.19	310.81
Common Stock	190.37	190.37	190.37	190.37	63.46	63.46
Additional Paid-In Capital	1,040	945.47	898.48	686.43	475.44	137.32
Retained Earnings	531.32	447.28	350.82	343.19	353.76	153.88
Treasury Stock	-74.68	-64.75	-	-	-	-
Comprehensive Income & Other	986.53	920.04	897.55	671.11	327.51	3.21
Total Common Equity	2,674	2,438	2,337	1,891	1,220	357.87
Minority Interest	-23.99	-17.43	-	-	-	-
Shareholders' Equity	2,650	2,421	2,337	1,891	1,220	357.87
Total Liabilities & Equity	4,653	3,920	3,552	3,353	2,076	668.68
Total Debt	1,648	984.06	986.46	1,024	711.37	207.89
Net Cash (Debt)	-1,264	-795.9	-711.84	-684.56	-396.62	-96.24
Net Cash Per Share	-	-4.18	-3.74	-3.60	-2.08	-0.51
Filing Date Shares Outstanding	-	190.37	190.37	190.37	190.37	190.37
Total Common Shares Outstanding	-	190.37	190.37	190.37	190.37	190.37
Working Capital	413.77	40.43	165.39	378.19	584.76	237.69
Book Value Per Share	-	12.81	12.28	9.93	6.41	1.88
Tangible Book Value	2,550	2,414	2,300	1,871	1,212	356.45
Tangible Book Value Per Share	-	12.68	12.08	9.83	6.37	1.87
Land	-	303.18	236.94	168.51	75.92	3.56
Buildings	-	249.59	152.73	149.48	51.09	16.73
Machinery	-	775.97	750.98	591.99	362.04	56.67
Construction In Progress	-	435.01	399.31	241.52	68.18	38.16
Leasehold Improvements	-	49.32	12.35	9.31	6.25	1.19