Heartland Financial USA Income Statement

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
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,662	1,834	1,646	913.6	442.98
Revenue Growth (YoY)	-8.16%	11.37%	80.21%	106.24%	-
Cost of Revenue	1,248	1,404	958.76	564.41	266.25
Gross Profit	414.09	429.45	687.66	349.19	176.73
Selling, General & Admin	220.79	217.83	199.2	115.41	29.52
Research & Development	14.52	14.98	23.41	16.2	12.09
Other Operating Expenses	-5.11	-12.72	16.25	-2.78	-0.37
Operating Expenses	230.21	220.08	238.86	128.83	41.24
Operating Income	183.88	209.36	448.8	220.36	135.49
Interest Expense	-25.75	-21.27	-1.06	-0.84	-0.78
Interest & Investment Income	87.61	133.56	416.86	58.33	1.97
Earnings From Equity Investments	8.36	4.92	-2.29	-	-
Currency Exchange Gain (Loss)	67.55	58.44	-11.18	7.18	12.95
Other Non Operating Income (Expenses)	-265.34	-413.74	-361.79	-158.37	-2.25
EBT Excluding Unusual Items	56.31	-28.73	489.34	126.65	147.38
Gain (Loss) on Sale of Investments	0.15	-0.85	-0.42	-0.07	-0.98
Pretax Income	56.47	-29.58	488.92	126.58	146.98
Income Tax Expense	-30.93	-39.5	23.47	13.35	32.45
Net Income	87.4	9.92	465.44	113.23	114.53
Net Income to Common	87.4	9.92	465.44	113.23	114.53
Net Income Growth	-77.59%	-97.87%	311.05%	-1.13%	-
Shares Outstanding (Basic)	58	58	57	43	10
Shares Outstanding (Diluted)	58	58	57	43	10
Shares Change (YoY)	0.61%	1.03%	34.58%	326.57%	-
EPS (Basic)	1.51	0.17	8.11	2.65	11.45
EPS (Diluted)	1.51	0.17	8.11	2.65	11.45
EPS Growth	-77.73%	-97.89%	205.44%	-76.82%	-
Free Cash Flow	-84.44	379.54	-146.96	338.91	76.6
Free Cash Flow Per Share	-1.46	6.54	-2.56	7.95	7.66
Dividend Per Share	-	-	-	1.161	-
Gross Margin	24.91%	23.42%	41.77%	38.22%	39.90%
Operating Margin	11.06%	11.42%	27.26%	24.12%	30.59%
Profit Margin	5.26%	0.54%	28.27%	12.39%	25.86%
Free Cash Flow Margin	-5.08%	20.70%	-8.93%	37.10%	17.29%
EBITDA	192.11	226.62	466.02	234.16	138.85
EBITDA Margin	11.56%	12.36%	28.31%	25.63%	31.34%
D&A For EBITDA	8.22	17.25	17.22	13.8	3.36
EBIT	183.88	209.36	448.8	220.36	135.49
EBIT Margin	11.06%	11.42%	27.26%	24.12%	30.59%
Effective Tax Rate	-	-	4.80%	10.54%	22.08%
Advertising Expenses	-	2.8	2.51	1.06	0.45

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