TGSAS FINANCIAL STATEMENTS

TGS Dis Ticaret Anonim Sirketi — balance sheet, income statement and cash flow trends

TGSASTGS Dis Ticaret Anonim Sirketi

🇹🇷 Turkey · IS · Industrials · Industrial Distribution

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Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue249.8 M ₺-21.8%

Gross Profit249.8 M ₺-21.8%

Operating Income114.8 M ₺-55.9%

EBITDA118.6 M ₺-54.4%

Net Income64.7 M ₺-52.9%

Peer Comparison· Industrial Distribution

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
TGSAS	-21.8%	100.0%	47.5%	25.9%
DPLM	84.6%	21.5%	25.2%	9.4%
EVI	17.5%	29.9%	5.1%	1.6%
TITN	-11.7%	16.2%	1.5%	-2.3%
BXC	1.4%	15.0%	2.3%	-0.1%
GIC	7.2%	35.5%	7.7%	5.3%
Industry median	5.7%	29.8%	10.4%	5.6%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
TGSAS	-21.8%	100.0%	47.5%	25.9%
BEYAZ	5.5%	3.6%	1.9%	-0.2%
KLMSN	-7.0%	13.9%	5.0%	-5.5%
LRSHO	11.7%	23.5%	7.3%	-11.0%
MAKTK	-9.8%	32.1%	25.1%	-10.0%
IMASM	1.7%	32.2%	15.3%	-21.7%
Industry median	5.7%	29.8%	10.4%	5.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity360.6 M ₺2%
Current Liabilities18.3 B ₺98%
Long-term Liabilities18.9 M ₺0%

Key Figures

YoY change

Total Assets18.7 B ₺-27.0%

Total Liabilities18.3 B ₺-27.7%

Total Equity360.6 M ₺+40.9%

Cash & ST Investments83.7 M ₺-6.5%

Total Debt16.1 M ₺+808.1%

Net Debt-67.7 M ₺—

Peer Comparison· Industrial Distribution

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
TGSAS	1.02	4.5%	-0.57	1.9%
DPLM	2.06	47.7%	0.85	53.4%
EVI	1.60	50.0%	3.10	45.9%
TITN	1.38	151.5%	22.72	35.1%
BXC	3.90	108.4%	5.05	38.5%
GIC	2.28	31.0%	0.35	55.1%
Industry median	2.29	78.1%	1.39	40.4%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
TGSAS	1.02	4.5%	-0.57	1.9%
BEYAZ	1.03	25.9%	-0.87	24.1%
KLMSN	1.11	100.7%	9.90	36.4%
LRSHO	2.20	7.3%	2.40	71.1%
MAKTK	3.29	9.9%	0.69	70.3%
IMASM	1.33	18.3%	1.33	56.9%
Industry median	2.29	78.1%	1.39	40.4%

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-5.9 M ₺-103.9%

Capital Expenditures33.1 M ₺—

Free Cash Flow28.5 M ₺-80.8%

Dividends Paid0 ₺—

Peer Comparison· Industrial Distribution

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
TGSAS	-2.4%	11.4%	13.3%	-9.2%
DPLM	14.1%	13.3%	0.8%	149.9%
EVI	4.0%	2.4%	1.6%	243.2%
TITN	4.6%	3.9%	0.7%	-201.9%
BXC	1.2%	0.4%	0.8%	-901.7%
GIC	5.7%	5.5%	0.3%	107.6%
Industry median	5.8%	5.0%	1.5%	126.8%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
TGSAS	-2.4%	11.4%	13.3%	-9.2%
BEYAZ	4.6%	3.3%	1.6%	-2,398.7%
KLMSN	9.6%	6.3%	3.6%	-174.5%
LRSHO	7.5%	2.9%	1.4%	-68.4%
MAKTK	2.7%	9.3%	5.6%	-26.5%
IMASM	-4.7%	-1.3%	0.1%	21.5%
Industry median	5.8%	5.0%	1.5%	126.8%

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.