IST:BMSCH 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	-76.83	-257.88	36.94	-31.54	24.19
Depreciation & Amortization	54.67	43.09	15.86	5.97	1.46
Provision & Write-off of Bad Debts	-	-0	0	0.01	0
Other Operating Activities	-87.51	31.21	34.18	116.27	-0.42
Change in Accounts Receivable	-28.53	33.27	-76.3	-25.02	-6.45
Change in Inventory	-76.52	50.19	0.48	180.49	-68.05
Change in Accounts Payable	16.16	2.7	0.94	-3.03	-1.96
Change in Unearned Revenue	-10.43	-5.1	-19.41	-29.17	13.63
Change in Other Net Operating Assets	100.17	-89.03	77.17	-76.38	5.53
Operating Cash Flow	-108.82	-191.54	69.85	137.64	-32.08
Operating Cash Flow Growth	-	-	-49.25%	-	-
Capital Expenditures	-34.2	-111.16	-146.81	-108.2	-5.67
Sale of Property, Plant & Equipment	1.36	6.5	1.05	1.87	-
Sale (Purchase) of Intangibles	0.1	-0.39	-0.46	-0.24	-0.13
Investment in Securities	-4.01	-	-	-	-
Investing Cash Flow	-36.74	-105.05	-146.22	-106.57	-5.8
Long-Term Debt Issued	760.36	699.98	482.27	189.33	5.89
Long-Term Debt Repaid	-588.01	-358.83	-321.31	-52.03	-24.37
Net Debt Issued (Repaid)	172.35	341.14	160.96	137.3	-18.48
Issuance of Common Stock	-	-	-	-	79.4
Repurchase of Common Stock	-	-	-17.05	-	-
Common Dividends Paid	-	-	-23.34	-14.18	-
Other Financing Activities	-66.1	-44.53	-49.39	-6.59	-1.64
Financing Cash Flow	106.26	296.61	71.17	116.53	59.28
Miscellaneous Cash Flow Adjustments	-35.07	-69.96	-96.77	-65.97	-
Net Cash Flow	-74.37	-69.94	-101.97	81.63	21.4
Free Cash Flow	-143.02	-302.71	-76.96	29.44	-37.76
Free Cash Flow Margin	-5.67%	-9.86%	-2.37%	1.52%	-8.43%
Free Cash Flow Per Share	-1.79	-3.06	-0.78	0.29	-0.47
Cash Interest Paid	89.34	110.05	56.32	10.68	3.29
Cash Income Tax Paid	-	14.74	7.92	6.91	1.64
Levered Free Cash Flow	-2.39	-290.25	-161.89	-152.77	-44.81
Unlevered Free Cash Flow	53.44	-221.47	-126.7	-146.09	-42.75
Change in Working Capital	0.85	-7.97	-17.13	46.94	-57.32

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