ECOGR FINANCIAL STATEMENTS

Ecogreen — balance sheet, income statement and cash flow trends

ECOGREcogreen

🇹🇷 Turkey · IS · Utilities · Utilities - Renewable

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

Revenue8.1 B ₺+20.5%

Gross Profit1.9 B ₺+89.4%

Operating Income1.6 B ₺-23.3%

EBITDA2.5 B ₺-28.7%

Net Income497.4 M ₺-85.2%

Peer Comparison· Utilities - Renewable

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ECOGR	1.6%	23.4%	31.6%	6.2%
NRGV	362.0%	21.0%	-40.0%	-53.0%
FLNC	10.9%	11.5%	-0.4%	-1.6%
BLX	10.7%	38.3%	60.5%	-3.6%
SLR	39.9%	77.2%	103.7%	55.9%
STEM	0.7%	36.3%	143.7%	94.2%
Industry median	1.9%	27.1%	36.8%	-1.9%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ECOGR	1.6%	23.4%	31.6%	6.2%
LYDYE	-31.7%	-4.4%	-59.3%	1,999.9%
AYDEM	35.3%	22.7%	40.2%	-20.2%
AKFYE	2.3%	28.7%	75.2%	25.0%
TATEN	5.3%	39.0%	58.2%	7.9%
GWIND	3.2%	45.4%	83.6%	28.5%
Industry median	1.9%	27.1%	36.8%	-1.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity18.4 B ₺50%
Current Liabilities7.1 B ₺19%
Long-term Liabilities11.4 B ₺31%

Key Figures

YoY change

Total Assets36.9 B ₺+13.8%

Total Liabilities18.5 B ₺+12.1%

Total Equity18.4 B ₺+15.5%

Cash & ST Investments1.3 B ₺+175.0%

Total Debt9.5 B ₺-2.6%

Net Debt8.2 B ₺-12.3%

Peer Comparison· Utilities - Renewable

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ECOGR	0.63	51.7%	3.22	49.9%
NRGV	1.44	570.5%	-1.21	10.2%
FLNC	1.43	109.2%	1.01	15.7%
BLX	1.24	310.0%	7.98	19.7%
SLR	0.59	205.8%	4.94	30.0%
STEM	0.84	-123.6%	1.33	-94.5%
Industry median	1.07	51.3%	3.22	50.5%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ECOGR	0.63	51.7%	3.22	49.9%
LYDYE	10.18	0.0%	0.79	76.0%
AYDEM	1.27	57.3%	4.16	54.9%
AKFYE	0.58	20.5%	2.37	76.4%
TATEN	0.52	87.5%	4.20	52.1%
GWIND	2.07	20.8%	0.62	70.5%
Industry median	1.07	51.3%	3.22	50.5%

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 Flow4.2 B ₺-53.1%

Capital Expenditures-104.9 M ₺—

Free Cash Flow4.4 B ₺-75.0%

Dividends Paid0 ₺—

Peer Comparison· Utilities - Renewable

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ECOGR	51.5%	54.9%	1.3%	834.8%
NRGV	-26.1%	-45.2%	19.1%	49.3%
FLNC	-9.2%	-10.5%	1.3%	568.2%
BLX	38.2%	-11.7%	49.9%	-1,071.9%
SLR	—	—	0.0%	—
STEM	-6.5%	-6.4%	4.5%	-6.9%
Industry median	18.8%	-0.4%	10.4%	33.3%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ECOGR	51.5%	54.9%	1.3%	834.8%
LYDYE	-137.2%	-57.2%	79.4%	-6.9%
AYDEM	59.1%	51.4%	2.4%	-292.3%
AKFYE	80.7%	3.0%	78.0%	323.3%
TATEN	63.5%	-0.8%	64.6%	802.9%
GWIND	55.8%	-28.0%	58.6%	196.0%
Industry median	18.8%	-0.4%	10.4%	33.3%

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.