IST:ZOREN 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	5,921	1,542	2,792	3,799	1,171	728.31
Accounts Receivable	11,471	9,267	11,146	13,520	3,541	1,774
Other Receivables	1,323	199.58	397.5	585.44	146.4	120.92
Inventory	569.04	467.77	767.18	1,174	239.03	131.17
Prepaid Expenses	229.75	155.9	120.46	87.01	19.94	32.53
Loans Receivable Current	1,187	1,016	1,625	2,040	907.08	931.38
Other Current Assets	8.51	762.63	11,778	1,385	447.13	329.69
Total Current Assets	20,708	13,410	28,626	22,591	6,471	4,048
Property, Plant & Equipment	66,310	55,872	59,240	57,591	18,950	10,647
Goodwill	-	-	-	-	402.24	402.24
Other Intangible Assets	12,630	10,488	11,061	8,819	1,048	1,050
Long-Term Investments	3,448	5,752	6,948	3,418	1,181	681.61
Long-Term Loans Receivable	17,367	12,393	15,974	10,964	2,583	957.77
Long-Term Deferred Tax Assets	11,006	10,577	6,856	1,701	671.75	488.84
Long-Term Deferred Charges	-	-	-	-	51.32	54.74
Long-Term Accounts Receivable	13,192	10,249	11,639	11,315	3,403	2,657
Other Long-Term Assets	17.86	44.82	1,885	1,346	664.94	415.96
Total Assets	144,678	118,785	142,229	117,745	35,426	21,403
Accounts Payable	6,239	5,077	5,602	9,488	2,190	1,815
Accrued Expenses	1,047	610.73	760.8	406.74	194.97	142.45
Short-Term Debt	980.1	1,479	2,393	4,484	1,271	1,595
Current Portion of Long-Term Debt	10,839	9,637	21,832	14,637	4,394	2,875
Current Unearned Revenue	605.34	948.35	2,717	2,112	144.22	91.55
Current Portion of Leases	116.92	79.76	180.45	183.77	50.89	19.92
Current Income Taxes Payable	465.55	15.18	153.3	221.26	5.76	56.49
Other Current Liabilities	2,840	2,291	11,926	6,008	1,252	1,433
Total Current Liabilities	23,134	20,138	45,565	37,540	9,502	8,028
Long-Term Debt	44,696	34,268	36,519	37,000	18,181	10,018
Long-Term Leases	369.98	265.17	428.34	328.29	155.84	35.16
Long-Term Unearned Revenue	-	742.61	-	-	-	-
Pension & Post-Retirement Benefits	651.18	444.14	413.53	288.7	68.3	44
Long-Term Deferred Tax Liabilities	5,110	4,263	3,742	8,053	1,331	736.94
Other Long-Term Liabilities	20.08	15.83	16.12	13.24	6.37	243.45
Total Liabilities	73,981	60,137	86,684	83,224	29,245	19,105
Common Stock	5,000	5,000	5,000	2,500	2,500	2,000
Additional Paid-In Capital	58.93	46.98	46.98	9.96	1.45	0.92
Retained Earnings	58,238	50,020	51,698	24,291	-1,094	-888.11
Comprehensive Income & Other	7,400	3,580	-1,301	7,793	4,903	1,332
Total Common Equity	70,697	58,647	55,444	34,595	6,310	2,445
Minority Interest	0.23	0.46	101.58	-74.29	-128.57	-147.93
Shareholders' Equity	70,697	58,648	55,546	34,521	6,182	2,297
Total Liabilities & Equity	144,678	118,785	142,229	117,745	35,426	21,403
Total Debt	57,003	45,729	61,353	56,633	24,052	14,543
Net Cash (Debt)	-51,082	-44,187	-58,561	-52,834	-22,881	-13,815
Net Cash Per Share	-10.26	-8.84	-11.71	-18.98	-10.59	-6.92
Filing Date Shares Outstanding	4,977	5,000	5,000	2,500	2,500	2,000
Total Common Shares Outstanding	4,977	5,000	5,000	2,500	2,500	2,000
Working Capital	-2,425	-6,728	-16,938	-14,950	-3,030	-3,980
Book Value Per Share	14.21	11.73	11.09	13.84	2.52	1.22
Tangible Book Value	58,067	48,160	44,383	25,775	4,861	993.01
Tangible Book Value Per Share	11.67	9.63	8.88	10.31	1.94	0.50
Land	-	1,387	1,335	1,058	350.91	179.22
Buildings	-	877.23	924.59	609.76	154.68	79.4
Machinery	-	48,524	52,242	51,635	19,993	11,867
Construction In Progress	-	3,119	2,678	2,351	871.45	525.48

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