The Shyft Group 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	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	Dec '20 Dec 31, 2020
Cash & Equivalents	2,989	3,816	7,140	1,496	1,422	1,283
Trading Asset Securities	7,914	9,883	1,157	-	-	-
Cash & Short-Term Investments	10,903	13,699	8,296	1,496	1,422	1,283
Cash Growth	35.90%	65.12%	454.44%	5.26%	10.76%	17.48%
Accounts Receivable	36,054	32,112	33,723	23,045	7,612	5,376
Other Receivables	662.56	660.17	450.68	189.81	98.72	62.95
Receivables	36,716	32,772	34,174	23,234	7,711	5,439
Inventory	13,151	12,540	11,593	8,543	2,328	2,184
Prepaid Expenses	263.71	60.6	53.68	45.19	7.87	6.28
Other Current Assets	1,034	832.67	912.28	514.52	207.49	145.47
Total Current Assets	62,068	59,904	55,030	33,834	11,676	9,058
Property, Plant & Equipment	7,865	7,161	7,080	4,878	865.48	786.05
Goodwill	716.55	651.04	651.04	450.92	31.19	31.19
Other Intangible Assets	55.12	57.32	3.23	3.57	1.43	1.48
Long-Term Deferred Tax Assets	1,407	1,262	1,446	690.27	95.55	70.5
Other Long-Term Assets	400.12	361.85	442.48	312.5	38.64	39.72
Total Assets	72,512	69,396	64,654	40,169	12,708	9,987
Accounts Payable	40,283	35,538	37,008	22,940	7,776	5,991
Accrued Expenses	935.76	951.38	968.8	274.02	212.05	159.15
Short-Term Debt	3,285	7,371	1,776	406.62	86.39	55.52
Current Portion of Long-Term Debt	-	549.01	1,060	-	-	-
Current Portion of Leases	48.77	51.02	33.8	43.22	9.93	9.32
Current Income Taxes Payable	811.89	412.81	433.69	274.54	61.16	32.72
Current Unearned Revenue	57.26	54.89	38.1	25.07	8.47	15.34
Other Current Liabilities	236.98	103.16	141.36	507.27	24.7	24.86
Total Current Liabilities	45,659	45,031	41,460	24,471	8,179	6,288
Long-Term Debt	-	-	573.62	-	-	-
Long-Term Leases	52.84	61.38	44.58	29.08	11.83	22.37
Long-Term Deferred Tax Liabilities	655.03	530.64	589.08	187.91	69.93	52.67
Total Liabilities	46,682	45,901	42,907	24,970	8,341	6,419
Common Stock	621	621	621	621	621	621
Retained Earnings	12,713	11,548	9,679	6,702	3,828	3,011
Comprehensive Income & Other	12,496	11,326	11,447	7,876	-82.31	-64.21
Total Common Equity	25,829	23,495	21,746	15,199	4,367	3,568
Minority Interest	0.07	0.06	0.05	0.03	0.02	0.01
Shareholders' Equity	25,829	23,495	21,746	15,199	4,367	3,568
Total Liabilities & Equity	72,512	69,396	64,654	40,169	12,708	9,987
Total Debt	3,387	8,032	3,488	478.93	108.15	87.2
Net Cash (Debt)	7,516	5,667	4,809	1,017	1,313	1,196
Net Cash Growth	107.36%	17.85%	372.62%	-22.54%	9.79%	48.47%
Net Cash Per Share	12.10	9.13	7.74	1.64	2.12	1.93
Filing Date Shares Outstanding	621	621	621	621	621	621
Total Common Shares Outstanding	621	621	621	621	621	621
Working Capital	16,409	14,873	13,570	9,363	3,497	2,770
Book Value Per Share	41.59	37.83	35.02	24.48	7.03	5.74
Tangible Book Value	25,058	22,787	21,092	14,745	4,334	3,535
Tangible Book Value Per Share	40.35	36.69	33.96	23.74	6.98	5.69
Land	1,816	1,592	1,592	1,103	157.58	115.09
Buildings	5,786	5,254	4,881	3,371	543.05	501.63
Machinery	4,873	4,410	4,054	2,624	440.96	366.52
Construction In Progress	10.55	7.22	314.54	95.34	0.4	7.57
Leasehold Improvements	325.81	294.13	278.79	198.22	37.72	33.34

Updated Feb 28, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.