IST:AYES 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	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-47.63	55.9	117.07	84.28	35.89	15.43
Depreciation & Amortization	36.08	39.87	7	7.1	2.61	2.09
Other Amortization	-	-	-	-	0.03	0.03
Loss (Gain) From Sale of Assets	8.05	-2.31	-1.96	-2.23	-4.37	-
Asset Writedown & Restructuring Costs	-8.73	-8.73	-	-	-	-
Loss (Gain) From Sale of Investments	-319.78	-347.33	-8.14	-	-	-
Provision & Write-off of Bad Debts	56.96	55.67	-5.18	0.12	1.11	-0.05
Other Operating Activities	357.33	274.78	324.88	-31.28	1.95	3.07
Change in Accounts Receivable	-825.87	-455.08	-212.85	28.36	-34.79	7.47
Change in Inventory	-169.61	94.79	10.34	190.14	-92.25	-11.21
Change in Accounts Payable	354.87	368.21	-1.93	68.28	1.8	-13.57
Change in Unearned Revenue	253.45	-274.06	82.26	103.81	43.34	5.64
Change in Other Net Operating Assets	209.59	654.71	-1,388	-148.65	-10.5	-39.97
Operating Cash Flow	-95.32	456.41	-1,076	188.55	-55.19	-30.26
Capital Expenditures	-94.12	-43.8	-136.36	-100.24	-6.77	-8.02
Sale of Property, Plant & Equipment	12.67	12.34	93	7.46	8.11	1.69
Sale (Purchase) of Intangibles	-0.54	-0.54	-0.13	-0.19	-0.17	-
Sale (Purchase) of Real Estate	-	-	-	-	-8.89	-0.08
Investing Cash Flow	-81.99	-31.99	-43.5	-92.97	-7.72	-6.41
Long-Term Debt Issued	-	634.18	1,233	8.16	69.87	47.46
Long-Term Debt Repaid	-	-723.33	-7.41	-154.29	-	-
Net Debt Issued (Repaid)	-77.32	-89.15	1,225	-146.12	69.87	47.46
Common Dividends Paid	-11.17	-11.17	-	-6.87	-2.45	-0.75
Other Financing Activities	-14.19	-	-	0	-	-0.15
Financing Cash Flow	-102.68	-100.32	1,225	-152.99	67.42	46.56
Miscellaneous Cash Flow Adjustments	-61.54	-71.42	-34.34	-	-	-
Net Cash Flow	-341.52	252.68	70.87	-57.41	4.51	9.88
Free Cash Flow	-189.44	412.62	-1,213	88.32	-61.95	-38.28
Free Cash Flow Margin	-2.46%	5.53%	-15.56%	1.64%	-4.62%	-6.35%
Free Cash Flow Per Share	-1.26	2.75	-8.09	0.59	-0.41	-0.26
Cash Income Tax Paid	4.71	4.71	1.49	7.57	-1.47	-1.71
Levered Free Cash Flow	-776.08	196.48	-736.99	-45.42	-43.9	-43.5
Unlevered Free Cash Flow	-523.83	486.03	-614.5	4.04	-37.46	-35.82
Change in Working Capital	-177.58	388.57	-1,510	130.55	-92.41	-50.84

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.