IST:BIENY 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	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	Dec '20 Dec 31, 2020
Net Income	-2,196	-2,102	166.74	539.28	579.78	66.64
Depreciation & Amortization	652.7	516.39	501.99	308.16	61.85	56.87
Loss (Gain) From Sale of Assets	-7.49	-	-0.15	-7.59	-1.33	-0.59
Asset Writedown & Restructuring Costs	-3.42	-9.38	-	-	-	-
Loss (Gain) From Sale of Investments	-51.3	-246.42	-451.19	-5.35	-	-
Provision & Write-off of Bad Debts	-	-	-	-	11.51	4
Other Operating Activities	-867.74	-1,147	-586.98	-353.7	214.03	83.66
Change in Accounts Receivable	-2,145	1,153	1,395	576.69	-833.6	-324.11
Change in Inventory	1,188	1,162	-1,318	-634	-113.42	-80.92
Change in Accounts Payable	1,126	-494.59	-280.71	2.41	215.12	77.59
Change in Other Net Operating Assets	1,798	-29.23	-1,398	-1,365	-89.98	165.35
Operating Cash Flow	-506.27	-1,197	-1,972	-938.91	48.69	49.66
Operating Cash Flow Growth	-	-	-	-	-1.96%	-
Capital Expenditures	-3,034	-1,572	-789.56	-1,160	-59.99	-74.68
Sale of Property, Plant & Equipment	-	-	53.24	1,268	3.03	1.4
Sale (Purchase) of Intangibles	0.14	-51.74	-9.69	-7.73	-0.51	-0.26
Sale (Purchase) of Real Estate	-2.08	-2.08	-212.29	20.79	-91.86	-30.15
Investment in Securities	-5.24	2,452	-2,404	193.63	0.26	-
Investing Cash Flow	-3,197	826.14	-3,362	314.97	-149.07	-103.7
Short-Term Debt Issued	-	-	-	-	236.11	-
Long-Term Debt Issued	-	3,230	4,315	2,854	667.22	870.14
Total Debt Issued	6,159	3,230	4,315	2,854	903.32	870.14
Short-Term Debt Repaid	-	-	-	-	-	-21.23
Long-Term Debt Repaid	-	-3,162	-3,261	-1,407	-777.47	-649.53
Total Debt Repaid	-3,768	-3,162	-3,261	-1,407	-777.47	-670.76
Net Debt Issued (Repaid)	2,391	68.01	1,054	1,447	125.86	199.38
Issuance of Common Stock	-	-	4,304	-	-	-
Other Financing Activities	171.38	-128.18	-234.72	-335.91	-74.69	-93.61
Financing Cash Flow	2,562	-60.17	5,124	1,111	51.17	105.76
Net Cash Flow	-1,099	-431.47	-210.22	486.81	-49.22	51.73
Free Cash Flow	-3,540	-2,770	-2,761	-2,099	-11.31	-25.02
Free Cash Flow Margin	-42.57%	-34.40%	-21.84%	-20.79%	-0.48%	-2.21%
Free Cash Flow Per Share	-9.81	-7.67	-7.65	-7.27	-	-
Cash Interest Paid	155.72	455.28	535.48	335.19	75.38	93.62
Cash Income Tax Paid	-	1.05	178.41	13.44	-5.71	0.04
Levered Free Cash Flow	-2,587	388.75	-2,544	-2,391	-358.98	-
Unlevered Free Cash Flow	-2,040	914.78	-1,857	-2,118	-266.82	-
Change in Working Capital	1,967	1,792	-1,602	-1,420	-821.87	-162.09

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