IST:BASGZ 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	3,402	3,114	5,629	382.17	716.66
Depreciation & Amortization	3,157	2,818	1,999	213.66	198.57
Loss (Gain) on Equity Investments	-724.36	-1,142	-2,030	-	-
Change in Accounts Receivable	-443.51	-960.59	245.22	-1,574	-220.6
Change in Inventory	65.15	-83.3	-75.5	1.68	-9.59
Change in Accounts Payable	2,876	4,868	1,527	2,280	544.53
Change in Unearned Revenue	1,312	834.27	1,869	755.97	61.51
Change in Other Net Operating Assets	885.11	700.95	452.3	264.89	105.43
Other Operating Activities	-4,359	-3,106	-4,671	451.61	-226.15
Operating Cash Flow	6,191	7,051	4,965	2,781	1,175
Operating Cash Flow Growth	-12.19%	42.00%	78.57%	136.59%	52.91%
Capital Expenditures	-9.06	-3.76	-5.72	-1.02	-0.87
Sale (Purchase) of Intangibles	-5,798	-7,099	-3,813	-1,079	-473.98
Investment in Securities	-11.11	2,701	-126.97	514.54	-633.72
Other Investing Activities	1,943	1,884	997.27	393.71	322.25
Investing Cash Flow	-3,875	-2,518	-2,948	-171.43	-786.32
Short-Term Debt Issued	0.48	-	-	-	-
Long-Term Debt Issued	1,110	2,528	1,427	67.85	137.48
Total Debt Issued	1,110	2,528	1,427	67.85	137.48
Short-Term Debt Repaid	-	-0.63	-	-	-
Long-Term Debt Repaid	-1,774	-1,357	-1,329	-271.83	-249.16
Total Debt Repaid	-1,774	-1,357	-1,329	-271.83	-249.16
Net Debt Issued (Repaid)	-664.33	1,171	97.18	-203.98	-111.68
Common Dividends Paid	-1,571	-3,066	-2,160	-868	-226.64
Other Financing Activities	-610.57	-61.97	8.95	-0.77	-118.83
Financing Cash Flow	-2,846	-1,957	-2,053	-1,073	-457.15
Miscellaneous Cash Flow Adjustments	-1,402	-1,518	-2,302	-14.33	-6.73
Net Cash Flow	-1,931	1,057	-2,338	1,522	-74.87
Free Cash Flow	6,182	7,047	4,960	2,780	1,174
Free Cash Flow Growth	-12.28%	42.09%	78.42%	136.67%	52.87%
Free Cash Flow Margin	12.95%	14.67%	11.81%	15.80%	17.94%
Free Cash Flow Per Share	8.83	10.07	7.08	3.97	1.68
Cash Interest Paid	610.72	322.63	202.66	56.13	103.87
Cash Income Tax Paid	1,493	1,108	964.02	121.16	-
Levered Free Cash Flow	-1,698	1,957	6,857	1,471	418.5
Unlevered Free Cash Flow	-957.33	2,705	7,043	1,546	498.79
Change in Working Capital	4,695	5,359	4,018	1,729	481.27

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