IST:BESTE Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	113.14	190.26	122	52.91	69.7
Depreciation & Amortization	163.16	155.54	237.25	80.82	55.47
Loss (Gain) on Sale of Assets	-	-	-	-	-0.64
Change in Accounts Receivable	18.25	-17.11	0.94	-12.86	3.77
Change in Accounts Payable	3.47	3.04	11.08	2.18	-8.45
Change in Unearned Revenue	-	-	-	-0.18	-2.82
Change in Other Net Operating Assets	-13.1	-17.34	-7.22	8.46	12.23
Other Operating Activities	-35.5	-28.28	14.87	55.6	15.65
Operating Cash Flow	249.43	286.12	378.93	186.93	144.91
Operating Cash Flow Growth	33.43%	-24.49%	102.71%	28.99%	-
Capital Expenditures	-32.77	-49.2	-157.56	-5.87	-5.97
Investing Cash Flow	-566.14	-49.2	-157.56	-5.87	-5.97
Long-Term Debt Issued	-	125	14.73	-	-
Long-Term Debt Repaid	-	-241.12	-197.47	-144.44	-98.48
Net Debt Issued (Repaid)	-146.14	-116.12	-182.75	-144.44	-98.48
Issuance of Common Stock	544.45	-	-	11.48	-
Other Financing Activities	-40.1	-48.51	-47.44	-35.82	-42.01
Financing Cash Flow	358.21	-164.63	-230.18	-168.79	-140.48
Foreign Exchange Rate Adjustments	-15.02	-14.75	-2.24	-	-
Net Cash Flow	26.48	57.53	-11.06	12.27	-1.54
Free Cash Flow	216.66	236.92	221.36	181.06	138.94
Free Cash Flow Growth	19.67%	7.03%	22.26%	30.31%	-
Free Cash Flow Margin	50.01%	52.80%	64.07%	62.97%	77.64%
Free Cash Flow Per Share	1.40	1.58	2.01	3.19	2.78
Cash Interest Paid	42.29	50.41	52.51	56.32	42.97
Levered Free Cash Flow	-	113.52	81.92	105.53	-
Unlevered Free Cash Flow	-	154.86	114.74	140.73	-
Change in Working Capital	8.63	-31.4	4.8	-2.41	4.73