IST:BIZIM 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	-792.55	-2,200	100.98	689.89	82.27
Depreciation & Amortization	1,691	1,665	1,112	596.91	95.13
Loss (Gain) From Sale of Assets	21.71	22.41	25.44	3.71	10.6
Provision & Write-off of Bad Debts	29.78	23.59	21.63	6.35	3.31
Other Operating Activities	-1,372	-1,315	-2,484	981.83	117.86
Change in Accounts Receivable	-232.81	-313.67	-677.85	-220.96	-105
Change in Inventory	813.84	-9.5	1,683	-831.97	-322.4
Change in Accounts Payable	919.44	4,011	2,321	728.5	501.13
Change in Other Net Operating Assets	274.08	518.58	-127.22	-195	-17.79
Operating Cash Flow	1,353	2,403	1,975	1,759	365.12
Operating Cash Flow Growth	-43.69%	21.64%	12.28%	381.83%	41.03%
Capital Expenditures	-205.15	-795.42	-929.14	-610.82	-154.96
Sale of Property, Plant & Equipment	125.97	259.11	30.31	-	-
Other Investing Activities	123.33	453.76	441.68	193.44	58.84
Investing Cash Flow	44.15	-82.56	-457.14	-417.38	-96.12
Long-Term Debt Issued	9.24	-	216.52	-	-
Total Debt Issued	9.24	-	216.52	-	-
Long-Term Debt Repaid	-880.97	-915.51	-646.2	-478.08	-88.89
Total Debt Repaid	-880.97	-915.51	-646.2	-478.08	-88.89
Net Debt Issued (Repaid)	-871.73	-915.51	-429.68	-478.08	-88.89
Issuance of Common Stock	-	-	29.56	-	-
Common Dividends Paid	-	-	-50	-	-19.24
Other Financing Activities	-1,174	-1,451	-765.47	-378.5	-76.27
Financing Cash Flow	-2,046	-2,367	-1,216	-856.58	-184.4
Miscellaneous Cash Flow Adjustments	-268.57	-525.77	-650.53	-1,128	-
Net Cash Flow	-917.4	-572.57	-348.05	-642.68	84.6
Free Cash Flow	1,148	1,607	1,046	1,148	210.16
Free Cash Flow Growth	-28.59%	53.64%	-8.91%	446.45%	7.40%
Free Cash Flow Margin	2.91%	3.21%	2.25%	3.60%	2.93%
Free Cash Flow Per Share	14.26	19.97	13.00	14.27	3.50
Cash Interest Paid	1,174	1,451	765.47	378.5	76.27
Cash Income Tax Paid	3.72	-	-	-85.18	10.77
Levered Free Cash Flow	-1,476	-809.92	-1,278	-403.91	71.83
Unlevered Free Cash Flow	1,159	2,624	474.51	369.98	268.66
Change in Working Capital	1,775	4,206	3,199	-519.44	55.95

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