IST:HOROZ 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	627.8	1,027	81.78	44.46	32.88
Cash & Short-Term Investments	627.8	1,027	81.78	44.46	32.88
Cash Growth	-44.96%	1155.30%	83.93%	35.24%	-
Accounts Receivable	2,000	1,268	1,519	718.06	511.87
Other Receivables	309.93	104.94	86.98	152.35	112.97
Receivables	2,310	1,373	1,606	870.41	624.84
Prepaid Expenses	99.17	61.42	48.88	26.12	21.32
Other Current Assets	260.13	141.66	231.23	84.05	72.07
Total Current Assets	3,314	2,603	1,968	1,025	751.11
Property, Plant & Equipment	4,864	4,047	2,952	1,546	1,471
Long-Term Investments	-	-	-	69.51	71.11
Other Intangible Assets	61.18	30.61	23.02	12.24	14.83
Long-Term Deferred Tax Assets	-	-	12.94	56.12	60.8
Other Long-Term Assets	188.3	134.03	171.76	112.7	119.23
Total Assets	8,427	6,814	5,128	2,822	2,488
Accounts Payable	1,376	935.22	1,209	709.79	613.62
Accrued Expenses	179.09	169.03	166.73	101.12	72.43
Short-Term Debt	287.1	81.23	536.55	263.03	333.15
Current Portion of Long-Term Debt	42.66	38.79	22.17	39.89	42.53
Current Portion of Leases	724.55	620.86	378.22	341.17	284.87
Current Income Taxes Payable	-	2.47	8.82	8.53	5.21
Current Unearned Revenue	21.65	23.87	59.36	29.94	17.98
Other Current Liabilities	85.7	71.03	85.25	136.19	153.32
Total Current Liabilities	2,717	1,942	2,466	1,630	1,523
Long-Term Debt	48.61	54.73	46.5	18.26	20.01
Long-Term Leases	1,657	1,642	1,270	418.46	407.22
Long-Term Unearned Revenue	-	-	0.81	25.51	-
Long-Term Deferred Tax Liabilities	219.84	102.29	-	-	-
Other Long-Term Liabilities	5.38	97.68	134.92	80.11	120.94
Total Liabilities	4,766	3,839	3,918	2,172	2,071
Common Stock	90.49	90.49	72.49	100	100
Additional Paid-In Capital	1,323	1,055	-	-	-
Retained Earnings	686.98	546.99	-153.12	-163.43	-468.63
Comprehensive Income & Other	1,560	1,283	1,291	689.28	759.5
Total Common Equity	3,661	2,976	1,210	625.85	390.87
Minority Interest	-	-	0	24.24	25.53
Shareholders' Equity	3,661	2,976	1,210	650.1	416.4
Total Liabilities & Equity	8,427	6,814	5,128	2,822	2,488
Total Debt	2,760	2,437	2,253	1,081	1,088
Net Cash (Debt)	-2,132	-1,411	-2,171	-1,036	-1,055
Net Cash Per Share	-23.57	-15.59	-29.95	-10.36	-10.55
Filing Date Shares Outstanding	90.49	90.49	72.49	100	100
Total Common Shares Outstanding	90.49	90.49	72.49	100	100
Working Capital	596.38	660.58	-497.99	-604.62	-772.02
Book Value Per Share	40.46	32.88	16.69	6.26	3.91
Tangible Book Value	3,600	2,945	1,187	613.62	376.04
Tangible Book Value Per Share	39.78	32.55	16.37	6.14	3.76
Land	181.98	131.52	131.52	91.1	107.08
Buildings	88.71	69.93	69.93	48.43	44.52
Machinery	2,480	1,817	1,545	336.36	289.48
Construction In Progress	25.97	-	-	0.42	-
Leasehold Improvements	329.15	231.83	195.99	-	-

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