IST:AEFES Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	8,957	17,169	31,950	15,384	1,068
Depreciation & Amortization	13,153	14,993	10,931	8,612	2,399
Loss (Gain) From Sale of Assets	42.08	171.6	-14.66	-375.67	-254.17
Asset Writedown & Restructuring Costs	103.39	17.71	16.89	825.11	266.68
Loss (Gain) on Equity Investments	-5.29	5.46	207.66	-445.5	542.38
Provision & Write-off of Bad Debts	24.23	1,091	53.3	24.97	-7.02
Other Operating Activities	9,624	6,418	-4,478	-2,610	2,640
Change in Accounts Receivable	-4,220	80.94	-2,469	977.19	-2,424
Change in Inventory	1,259	8,661	1,023	-7,131	-3,054
Change in Accounts Payable	3,046	-87.72	-818.56	-3,708	5,955
Change in Other Net Operating Assets	2,170	-6,093	-1,992	2,997	939.97
Operating Cash Flow	34,153	42,426	34,409	14,550	8,073
Operating Cash Flow Growth	-19.50%	23.30%	136.49%	80.24%	62.35%
Capital Expenditures	-17,473	-23,270	-14,112	-8,350	-2,939
Sale of Property, Plant & Equipment	757.17	1,500	546.64	785.45	391.02
Cash Acquisitions	-28,744	-1,069	200.71	-400.91	-2,978
Sale (Purchase) of Intangibles	-1,524	-1,458	-1,137	-703.3	-175.84
Sale (Purchase) of Real Estate	-113.73	-103.38	-56.65	-54.04	-0.75
Investment in Securities	-	-24.11	-	-1.65	-87
Other Investing Activities	-	-	-1,176	-998.29	-
Investing Cash Flow	-47,098	-24,424	-15,735	-9,723	-5,790
Long-Term Debt Issued	110,411	97,850	40,843	46,266	9,874
Long-Term Debt Repaid	-108,901	-88,623	-41,920	-31,338	-9,356
Net Debt Issued (Repaid)	1,510	9,227	-1,077	14,928	517.88
Common Dividends Paid	-2,665	-3,930	-3,240	-2,974	-2,211
Other Financing Activities	-19,128	-20,514	-4,884	-1,747	-431.67
Financing Cash Flow	-20,284	-15,217	-9,202	10,207	-2,125
Foreign Exchange Rate Adjustments	754.59	-6,833	-2,924	-762.88	1,587
Miscellaneous Cash Flow Adjustments	-1,211	-2,998	-3,736	-2,780	-
Net Cash Flow	-33,684	-7,046	2,813	11,492	1,745
Free Cash Flow	16,680	19,157	20,297	6,200	5,133
Free Cash Flow Growth	-12.93%	-5.62%	227.37%	20.78%	53.47%
Free Cash Flow Margin	6.84%	6.33%	8.79%	4.00%	13.07%
Free Cash Flow Per Share	2.82	3.23	3.43	1.05	0.87
Cash Interest Paid	22,363	19,033	9,530	3,959	1,112
Cash Income Tax Paid	4,211	9,324	7,108	4,323	1,052
Levered Free Cash Flow	-14,642	802.54	13,950	7,542	2,687
Unlevered Free Cash Flow	-2,633	12,590	20,018	10,957	3,369
Change in Working Capital	2,255	2,561	-4,257	-6,865	1,418

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.