IST:BULGS 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
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
Cash & Equivalents	41.19	58.4	46.83	61.57	17.33
Trading Asset Securities	1,103	-	0.07	11.78	11.44
Cash & Short-Term Investments	1,144	58.4	46.9	73.35	28.77
Cash Growth	-	24.53%	-36.06%	154.94%	-
Other Receivables	2.36	0.59	0.09	0.14	-
Receivables	2.36	0.59	0.09	0.14	-
Prepaid Expenses	16.48	0.02	-	0	0.53
Other Current Assets	0.27	2.26	0.82	0.09	0.33
Total Current Assets	1,163	61.27	47.8	73.59	29.63
Property, Plant & Equipment	12.78	18.9	15.07	4.88	6.87
Long-Term Investments	5,332	3,659	2,284	117.41	107.5
Other Intangible Assets	7.85	0.11	0.03	0.02	0.01
Other Long-Term Assets	-	0.04	0.05	0	0.01
Total Assets	6,516	3,739	2,347	195.91	144.02
Accounts Payable	0.18	0.04	0.41	0.04	0.03
Accrued Expenses	0.31	0.26	0.36	0.11	0.09
Short-Term Debt	0.19	0.07	0.08	0.02	-
Current Portion of Leases	6.9	8.06	5.16	1.28	2.35
Current Income Taxes Payable	-	-	0.03	0.01	0
Other Current Liabilities	0.45	0.55	-	-	0.23
Total Current Liabilities	8.03	8.99	6.04	1.46	2.7
Long-Term Leases	1.42	12.01	6.95	2.67	4.97
Pension & Post-Retirement Benefits	0.42	0.18	0.31	0.08	0.02
Total Liabilities	9.87	21.18	13.3	4.22	7.7
Common Stock	268	200	40	30	30
Additional Paid-In Capital	939.22	60.05	314.05	57.04	-
Retained Earnings	4,962	3,237	1,853	34.54	36.25
Comprehensive Income & Other	337.34	220.86	126.75	70.1	70.08
Shareholders' Equity	6,506	3,718	2,334	191.69	136.33
Total Liabilities & Equity	6,516	3,739	2,347	195.91	144.02
Total Debt	8.51	20.14	12.19	3.98	7.32
Net Cash (Debt)	1,136	38.26	34.71	69.37	21.45
Net Cash Growth	-	10.24%	-49.96%	223.44%	-
Net Cash Per Share	4.53	0.19	0.87	2.31	0.71
Filing Date Shares Outstanding	268	268	200	30	30
Total Common Shares Outstanding	268	200	40	30	30
Working Capital	1,155	52.28	41.77	72.13	26.93
Book Value Per Share	24.28	18.59	58.34	6.39	4.54
Tangible Book Value	6,498	3,718	2,334	191.67	136.32
Tangible Book Value Per Share	24.25	18.59	58.34	6.39	4.54
Machinery	5.39	4.06	1.6	0.68	0.39
Leasehold Improvements	2.75	2.19	0.05	0.04	0.04

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