CEMAS FINANCIAL STATEMENTS

Çemas Döküm Sanayi A.S. — balance sheet, income statement and cash flow trends

CEMASÇemas Döküm Sanayi A.S.

🇹🇷 Turkey · IS · Industrials · Metal Fabrication

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue1.7 B ₺-23.8%

Gross Profit-592.2 M ₺—

Operating Income-720.3 M ₺—

EBITDA-444.5 M ₺—

Net Income-1.4 B ₺—

Peer Comparison· Metal Fabrication

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
CEMAS	-23.8%	-35.9%	-26.9%	-84.9%
TG	35.2%	14.5%	8.2%	3.9%
IIIN	20.9%	13.6%	10.7%	6.2%
MEC	-0.0%	8.3%	4.0%	-2.9%
PRLB	9.4%	44.9%	12.7%	4.7%
WOR	19.7%	27.3%	16.4%	11.3%
Industry median	5.2%	16.6%	12.9%	4.3%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
CEMAS	-23.8%	-35.9%	-26.9%	-84.9%
ERBOS	3.8%	13.1%	15.0%	-1.2%
CELHA	9.5%	8.8%	7.2%	-34.4%
DMSAS	-17.5%	11.0%	9.3%	-5.7%
BURVA	-56.2%	9.9%	-17.2%	-16.9%
TUCLK	-6.3%	37.8%	39.0%	-17.2%
Industry median	5.2%	16.6%	12.9%	4.3%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity3.8 B ₺78%
Current Liabilities578.6 M ₺12%
Long-term Liabilities498.8 M ₺10%

Key Figures

YoY change

Total Assets4.9 B ₺+7.1%

Total Liabilities1.1 B ₺+32.0%

Total Equity3.8 B ₺+1.6%

Cash & ST Investments16 M ₺-71.6%

Total Debt655.8 M ₺+74.6%

Net Debt639.8 M ₺+100.4%

Peer Comparison· Metal Fabrication

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
CEMAS	1.44	17.2%	-1.44	78.0%
TG	1.72	26.3%	0.71	55.4%
IIIN	3.71	0.8%	-0.16	79.2%
MEC	1.64	10.2%	0.98	40.2%
PRLB	3.51	0.4%	-1.92	87.7%
WOR	2.37	34.1%	1.42	55.6%
Industry median	2.35	21.7%	0.84	55.5%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
CEMAS	1.44	17.2%	-1.44	78.0%
ERBOS	3.12	16.5%	0.31	73.3%
CELHA	1.05	8.9%	2.27	74.2%
DMSAS	0.76	60.4%	2.33	47.8%
BURVA	1.46	13.4%	-0.13	42.0%
TUCLK	1.44	77.5%	3.54	48.2%
Industry median	2.35	21.7%	0.84	55.5%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow-1.5 B ₺—

Capital Expenditures858.8 M ₺—

Free Cash Flow-417.3 M ₺—

Dividends Paid0 ₺—

Peer Comparison· Metal Fabrication

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
CEMAS	-89.5%	-25.3%	52.0%	105.3%
TG	5.4%	2.8%	2.6%	137.5%
IIIN	2.3%	1.0%	1.3%	37.3%
MEC	4.9%	2.6%	2.3%	-168.5%
PRLB	13.5%	11.3%	2.6%	286.0%
WOR	16.4%	15.2%	4.9%	144.9%
Industry median	8.7%	6.0%	2.5%	117.7%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
CEMAS	-89.5%	-25.3%	52.0%	105.3%
ERBOS	8.7%	7.9%	0.8%	-705.0%
CELHA	-25.4%	-26.5%	1.1%	73.7%
DMSAS	8.6%	9.5%	0.9%	-150.2%
BURVA	-9.4%	-8.3%	1.1%	55.7%
TUCLK	-69.1%	-43.6%	24.6%	400.8%
Industry median	8.7%	6.0%	2.5%	117.7%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.