IST:AHGAZ Cash Flow Statement

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
Net Income	2,683	1,764	4,478	2,603	130.76
Depreciation & Amortization	2,466	1,949	747.96	407.01	91.34
Other Amortization	162.28	129.34	83.77	125.62	5.43
Loss (Gain) on Sale of Investments	4.26	8.3	-	-1,256	-
Asset Writedown	-	-	-112.8	-	-
Change in Accounts Receivable	813.59	-1,193	2,567	-1,910	-364.72
Change in Inventory	40.85	-127.86	58.04	-62.71	-9.35
Change in Accounts Payable	11.11	1,183	-2,419	1,911	418.71
Change in Unearned Revenue	-960.76	5.48	8.76	281.1	2.11
Change in Other Net Operating Assets	5,990	-2,460	-2,004	-2,188	-87.63
Other Operating Activities	7,559	6,180	4,954	1,619	134.12
Operating Cash Flow	18,799	7,462	8,392	1,546	323.83
Operating Cash Flow Growth	4882.03%	-11.08%	442.71%	377.54%	-
Capital Expenditures	-4,393	-9,838	-2,808	-1,845	-304.86
Sale of Property, Plant & Equipment	130.49	0.54	14.53	4.21	0.39
Cash Acquisitions	-505.03	-505.03	-1,640	-	-
Sale (Purchase) of Intangibles	-564.48	-498.09	-128.19	-257.29	-21.58
Investment in Securities	-	-	-	1,256	-
Other Investing Activities	2,699	1,250	1,155	432.07	178.63
Investing Cash Flow	-2,633	-9,591	-3,407	-409.93	-147.43
Long-Term Debt Issued	-	1,042	491.68	851.36	483.63
Long-Term Debt Repaid	-	-67.35	-15.46	-53.89	-587.17
Net Debt Issued (Repaid)	-119.62	974.93	476.22	797.47	-103.55
Issuance of Common Stock	32.38	-	434.42	4,256	-
Repurchase of Common Stock	-843.86	-541.39	-851.77	-	-
Other Financing Activities	-346.98	2,682	3,211	-438.37	-63.46
Financing Cash Flow	-1,278	3,116	3,270	4,615	-167.01
Foreign Exchange Rate Adjustments	-	-	-	-152.67	-
Miscellaneous Cash Flow Adjustments	-2,352	-3,655	-5,010	-	-
Net Cash Flow	12,537	-2,668	3,245	5,598	9.39
Free Cash Flow	14,406	-2,376	5,584	-298.87	18.97
Free Cash Flow Margin	30.65%	-7.87%	19.30%	-1.27%	0.51%
Free Cash Flow Per Share	5.54	-0.91	3.73	-0.12	0.01
Cash Interest Paid	-	270.97	99.16	396.55	187.12
Cash Income Tax Paid	1,045	1,203	1,345	254.38	26.86
Levered Free Cash Flow	-36,117	-9,379	1,220	2,509	-
Unlevered Free Cash Flow	-35,348	-9,062	1,308	2,708	-
Change in Working Capital	5,895	-2,593	-1,789	-1,968	-40.88

Source: S&P Global Market Intelligence. Utility template. Financial Sources.