IST:BALSU 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	-796.21	205.63	1,018	59.53	488.54
Depreciation & Amortization	118.64	116.08	91.59	74.15	34.72
Loss (Gain) From Sale of Assets	-2.86	-5.49	-2.2	0.31	-1.51
Other Operating Activities	-345.06	91.01	-3,959	-377.31	518.14
Change in Accounts Receivable	2,570	-21.51	-182.43	398.85	-465.06
Change in Inventory	-1,942	282.66	2,601	-434.62	509.92
Change in Accounts Payable	966.92	-171.33	658.49	-192.2	586.41
Change in Other Net Operating Assets	-1,649	-1,136	132.38	96.83	-556.11
Operating Cash Flow	-1,079	-638.8	358.49	-374.45	1,115
Capital Expenditures	-898.99	-350.02	-399.42	-283.57	-221.76
Sale of Property, Plant & Equipment	-3.24	2.57	3.95	5.49	14.36
Sale (Purchase) of Intangibles	-2.05	-1.71	-29.44	-3.54	-0.43
Investment in Securities	315.04	9.97	40.16	-	-
Investing Cash Flow	-611.23	-339.2	-384.76	-281.61	-207.83
Long-Term Debt Issued	-	1,473	569.21	630.8	-
Long-Term Debt Repaid	-	-	-	-	-32.53
Net Debt Issued (Repaid)	2,126	1,473	569.21	630.8	-32.53
Issuance of Common Stock	-	-	30.75	-	-
Common Dividends Paid	-	-	-104.76	-	-
Other Financing Activities	-	-	-263.42	-	-248.13
Financing Cash Flow	2,126	1,473	231.79	630.8	-280.66
Foreign Exchange Rate Adjustments	-165.17	-119.94	-48.52	-4.48	-24.58
Miscellaneous Cash Flow Adjustments	-374.09	-466.43	-242.49	-	-
Net Cash Flow	-104.23	-91.26	-85.49	-29.74	601.97
Free Cash Flow	-1,978	-988.82	-40.93	-658.02	893.28
Free Cash Flow Margin	-15.15%	-6.74%	-0.32%	-5.98%	6.87%
Free Cash Flow Per Share	-	-10.07	-0.42	-6.70	9.10
Cash Income Tax Paid	-	-	-	67.03	-67.03
Levered Free Cash Flow	-8,219	-1,441	-1,133	-969.51	-
Unlevered Free Cash Flow	-7,374	-683.71	-505.15	-631.84	-
Change in Working Capital	-53.88	-1,046	3,209	-131.14	75.16

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