IST:ARASE Income Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Revenue	32,720	52,222	33,908	29,195	6,125
Revenue Growth (YoY)	-37.34%	54.01%	16.14%	376.62%	-
Selling, General & Admin	4,127	4,420	2,853	1,383	496.83
Other Operating Expenses	21,099	40,266	24,899	25,488	5,096
Total Operating Expenses	25,226	44,686	27,752	26,871	5,593
Operating Income	7,494	7,536	6,155	2,324	532.54
Interest Expense	-1,621	-2,482	-714.38	-266.9	-18.82
Interest Income	822.53	797.75	411.86	116.93	116.39
Net Interest Expense	-798.14	-1,684	-302.52	-149.97	97.57
Currency Exchange Gain (Loss)	-139.28	-80.14	-272.23	-180.54	-75.82
Other Non-Operating Income (Expenses)	-3,323	-3,694	-2,461	-1,475	-74.02
EBT Excluding Unusual Items	3,233	2,078	3,120	518.27	480.27
Legal Settlements	-8.42	-46.28	-17.48	-20.7	-6.12
Pretax Income	3,224	2,032	3,103	497.56	474.15
Income Tax Expense	984.5	1,824	-4,448	246.68	26.27
Net Income	2,240	207.59	7,551	250.88	447.88
Net Income to Common	2,240	207.59	7,551	250.88	447.88
Net Income Growth	979.03%	-97.25%	2909.60%	-43.98%	-
Shares Outstanding (Basic)	250	250	250	250	250
Shares Outstanding (Diluted)	250	250	250	250	250
EPS (Basic)	8.96	0.83	30.20	1.00	1.79
EPS (Diluted)	8.96	0.83	30.20	1.00	1.79
EPS Growth	979.03%	-97.25%	2909.60%	-43.98%	-
Free Cash Flow	5,940	6,516	298.31	-1,268	33.37
Free Cash Flow Per Share	23.76	26.07	1.19	-5.07	0.13
Dividend Per Share	-	2.200	0.914	0.091	-
Dividend Growth	-	140.79%	907.35%	-	-
Profit Margin	6.85%	0.40%	22.27%	0.86%	7.31%
Free Cash Flow Margin	18.15%	12.48%	0.88%	-4.34%	0.55%
EBITDA	7,706	7,741	6,307	2,426	544.74
EBITDA Margin	23.55%	14.82%	18.60%	8.31%	8.89%
D&A For EBITDA	212.15	204.99	151.67	102.27	12.2
EBIT	7,494	7,536	6,155	2,324	532.54
EBIT Margin	22.90%	14.43%	18.15%	7.96%	8.69%
Effective Tax Rate	30.53%	89.78%	-	49.58%	5.54%

Source: S&P Capital IQ. Utility template. Financial Sources.