IST:AVHOL 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	325.64	106.18	63.69	-45.32	2.54
Depreciation & Amortization	26.16	10.39	45.78	29.84	2.68
Other Amortization	-	-	-	0.81	0.34
Provision & Write-off of Bad Debts	-	-	-	-0.13	-
Other Operating Activities	-716.65	172.2	-28.71	33.18	7.86
Change in Accounts Receivable	332.2	68.77	-155.35	-46.95	6.3
Change in Inventory	14.77	-34.65	36.7	4.74	-7.15
Change in Accounts Payable	-71.37	-93.93	145.76	6.06	7.68
Change in Unearned Revenue	-48.22	38.69	-0.73	-	-
Change in Other Net Operating Assets	418.15	-163.84	-58.35	22.49	-34.42
Operating Cash Flow	280.67	103.82	48.79	4.71	-14.17
Operating Cash Flow Growth	170.34%	112.77%	935.17%	-	-
Capital Expenditures	-48.45	-77.14	-16.05	-19.81	-24.78
Sale of Property, Plant & Equipment	29.65	32.09	19.04	9.64	0.04
Sale (Purchase) of Intangibles	-1.2	-40.14	-	-	-2.71
Investment in Securities	-74.77	-33.83	-2.02	-	0.35
Other Investing Activities	215.68	11.79	76.52	3.56	-
Investing Cash Flow	120.91	-107.23	77.5	-6.61	-27.1
Long-Term Debt Issued	211.6	289.91	-	40.05	1.27
Long-Term Debt Repaid	-329.14	-22.61	-122.21	-	-
Net Debt Issued (Repaid)	-117.54	267.3	-122.21	40.05	1.27
Issuance of Common Stock	-	-	-	-	41.16
Other Financing Activities	-183.29	-254.08	-38.1	-2.4	-0.65
Financing Cash Flow	-300.83	13.22	-160.31	37.65	41.77
Miscellaneous Cash Flow Adjustments	-107.77	-17.68	-7.76	-	-
Net Cash Flow	-7.01	-7.86	-41.79	35.75	0.51
Free Cash Flow	232.22	26.68	32.75	-15.1	-38.95
Free Cash Flow Growth	770.46%	-18.53%	-	-	-
Free Cash Flow Margin	53.97%	3.39%	8.67%	-7.92%	-98.58%
Free Cash Flow Per Share	6.23	0.72	0.88	-0.41	-1.30
Cash Interest Paid	140.9	49.88	17.19	5.15	0.65
Cash Income Tax Paid	-1.42	-0.74	-0.41	0.9	-
Levered Free Cash Flow	-30.14	-132.03	15.03	-58.05	-46.84
Unlevered Free Cash Flow	62.85	-100.2	32.08	-56.95	-45.88
Change in Working Capital	645.53	-184.96	-31.96	-13.66	-27.59

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