Ülker Bisküvi Sanayi A.S. 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	29,570	26,308	16,831	15,249	9,397	7,422
Trading Asset Securities	6.25	5.44	18.9	367.93	24.1	90.83
Cash & Short-Term Investments	29,577	26,314	16,849	15,617	9,421	7,512
Cash Growth	26.75%	56.17%	7.89%	65.77%	25.41%	37.99%
Accounts Receivable	29,618	21,900	17,422	12,174	4,688	3,092
Other Receivables	2,451	2,739	3,311	2,531	746.83	2,199
Receivables	32,069	24,639	20,733	14,704	5,435	5,291
Inventory	23,046	11,831	12,115	8,516	3,218	1,696
Prepaid Expenses	1,520	230.94	142.14	130.87	368.88	-
Other Current Assets	3,872	2,096	3,562	2,804	321.89	201.52
Total Current Assets	90,084	65,110	53,402	41,773	18,765	14,701
Property, Plant & Equipment	28,268	23,257	23,497	14,703	3,641	2,847
Long-Term Investments	5,842	4,906	5,789	4,428	1,878	978.11
Goodwill	2,779	2,206	2,697	1,849	896.54	496.2
Other Intangible Assets	2,027	1,696	2,050	1,480	651.3	363.78
Long-Term Deferred Tax Assets	80.68	154.06	1,168	1,704	327.84	30.47
Other Long-Term Assets	128.52	107.13	319.76	212.4	83.63	75.18
Total Assets	129,209	97,437	88,922	66,149	26,244	19,492
Accounts Payable	9,726	10,268	11,023	6,857	2,270	1,275
Accrued Expenses	1,563	2,086	2,050	1,147	417.23	288.82
Short-Term Debt	14,520	4,204	1,646	1,524	759.91	11.41
Current Portion of Long-Term Debt	32,439	11,069	6,236	17,249	2,079	1,118
Current Portion of Leases	0.06	1.4	1.76	12.98	24.35	19.11
Current Income Taxes Payable	636.71	266.27	725.14	431.63	301.54	85.89
Current Unearned Revenue	76.08	100.95	116.77	135.54	83.75	77.38
Other Current Liabilities	1,874	448.77	503.15	468.46	198.24	354.77
Total Current Liabilities	60,835	28,444	22,303	27,826	6,134	3,231
Long-Term Debt	21,514	32,735	36,241	20,344	15,307	9,028
Long-Term Leases	-	-	2.02	4.41	7	30.72
Pension & Post-Retirement Benefits	2,154	1,677	1,491	1,258	346.83	228.11
Long-Term Deferred Tax Liabilities	2,122	1,105	296.15	1,074	134.9	157.85
Total Liabilities	86,625	63,961	60,333	50,506	21,930	12,675
Common Stock	369.28	369.28	369.28	342	342	342
Additional Paid-In Capital	6,040	4,815	4,815	-	-	-
Retained Earnings	26,383	19,926	31,946	18,626	4,078	4,754
Comprehensive Income & Other	7,360	6,173	-11,183	-6,932	-1,433	940.62
Total Common Equity	40,151	31,283	25,947	12,036	2,987	6,037
Minority Interest	2,432	2,193	2,643	3,607	1,327	779.91
Shareholders' Equity	42,584	33,476	28,590	15,643	4,314	6,817
Total Liabilities & Equity	129,209	97,437	88,922	66,149	26,244	19,492
Total Debt	68,473	48,009	44,127	39,135	18,177	10,207
Net Cash (Debt)	-38,897	-21,696	-27,277	-23,517	-8,756	-2,694
Net Cash Per Share	-105.33	-58.75	-73.87	-63.68	-25.60	-7.88
Filing Date Shares Outstanding	369.28	369.28	369.28	342	342	342
Total Common Shares Outstanding	369.28	369.28	369.28	342	342	342
Working Capital	29,248	36,666	31,099	13,947	12,631	11,470
Book Value Per Share	108.73	84.71	70.26	35.19	8.73	17.65
Tangible Book Value	35,345	27,380	21,200	8,707	1,439	5,177
Tangible Book Value Per Share	95.72	74.15	57.41	25.46	4.21	15.14
Land	10,123	8,072	8,037	4,589	836.11	857.54
Buildings	17,811	14,195	12,363	5,499	1,450	1,228
Machinery	36,890	28,686	28,871	19,427	4,043	2,828
Construction In Progress	770.36	920.67	793.05	371.56	179.15	67.04
Leasehold Improvements	663.55	525.46	508.36	351.3	54.22	54.17

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