IST:BEGYO 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	-97.54	1,483	199.89	685.3	-112.17
Depreciation & Amortization	1.98	2.8	3.62	1.58	0.27
Loss (Gain) From Sale of Assets	-	-	-	-	0
Asset Writedown & Restructuring Costs	-565.05	-37	184.14	-230.08	-367.56
Provision & Write-off of Bad Debts	-0.07	0.24	-	-	0
Other Operating Activities	548.87	246.8	711.28	790.21	503.12
Change in Accounts Receivable	-10.2	57.7	34.26	-9.95	-11.24
Change in Inventory	79.92	176.62	-162.51	30.98	4.41
Change in Accounts Payable	2.28	-190.1	93.04	36.03	0.11
Change in Unearned Revenue	0.32	-459.89	143.6	143.47	-0.85
Change in Other Net Operating Assets	95.43	-1,154	-562.77	-1,456	381.57
Operating Cash Flow	55.94	126.18	644.54	-8.92	397.68
Operating Cash Flow Growth	-55.66%	-80.42%	-	-	82.19%
Capital Expenditures	-3.33	-3.79	-0.14	-1.37	-0.03
Sale of Property, Plant & Equipment	-	-	-	0.21	-
Sale (Purchase) of Real Estate	-2.86	-	-	-	-
Investing Cash Flow	-6.19	-3.79	-0.14	-1.16	-0.03
Long-Term Debt Issued	-	-	176.14	42.26	552.4
Long-Term Debt Repaid	-	-230.56	-1,222	-174.32	-732.83
Net Debt Issued (Repaid)	-	-230.56	-1,046	-132.06	-180.43
Issuance of Common Stock	-	-	1,263	495	-
Common Dividends Paid	-35	-	-	-	-
Other Financing Activities	-0.19	-104.95	-628.39	-350.01	-214.54
Financing Cash Flow	-35.19	-335.51	-412.07	12.93	-394.97
Miscellaneous Cash Flow Adjustments	-0.61	-95.73	-3.63	-6.05	-
Net Cash Flow	13.95	-308.85	228.69	-3.19	2.69
Free Cash Flow	52.61	122.39	644.4	-10.29	397.65
Free Cash Flow Growth	-57.01%	-81.01%	-	-	82.18%
Free Cash Flow Margin	33.67%	9.63%	404.50%	-6.14%	1117.98%
Free Cash Flow Per Share	0.07	0.15	1.18	-0.04	79.53
Cash Interest Paid	0.19	104.95	628.39	350.01	214.54
Levered Free Cash Flow	254.2	163.36	-1,536	-309.28	170.92
Unlevered Free Cash Flow	254.2	227.22	-1,143	-89.32	318.65
Change in Working Capital	167.75	-1,570	-454.39	-1,256	374.01

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