IST:BNTAS 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	240.39	217.84	246.01	163.29	64.6
Depreciation & Amortization	65.52	3.41	39.75	6.62	4.82
Other Amortization	-	-	-	-	0
Other Operating Activities	-59.79	-183.3	32.76	-26.08	-1.18
Change in Accounts Receivable	147.37	-3.58	-131.22	-144.34	-18.43
Change in Inventory	-56.82	59.69	99.38	-135.64	-27.28
Change in Accounts Payable	1.6	-9.67	2.64	-	-1.28
Change in Other Net Operating Assets	-206.35	161.26	-70.2	43.64	2.24
Operating Cash Flow	131.93	245.65	219.13	-92.51	23.5
Operating Cash Flow Growth	-46.30%	12.11%	-	-	4.88%
Capital Expenditures	-37.23	-276.87	-270.8	-192.44	-26.86
Sale of Property, Plant & Equipment	-	-	-	-	0.08
Other Investing Activities	-0.42	124.55	126.43	0.12	0.01
Investing Cash Flow	-37.65	-152.33	-144.37	-192.31	-26.77
Long-Term Debt Issued	26.92	68.88	0.36	110.22	-
Total Debt Issued	26.92	68.88	0.36	110.22	-
Long-Term Debt Repaid	-2.28	-218.75	-2.86	-	-15.33
Total Debt Repaid	-2.28	-218.75	-2.86	-	-15.33
Net Debt Issued (Repaid)	24.64	-149.87	-2.51	110.22	-15.33
Issuance of Common Stock	1.41	-	-	-	-
Other Financing Activities	-53.96	-155.19	82.7	284.07	3.09
Financing Cash Flow	-27.92	-305.06	80.2	394.28	-12.23
Net Cash Flow	66.36	-211.74	154.96	109.46	-15.5
Free Cash Flow	94.7	-31.22	-51.67	-284.95	-3.36
Free Cash Flow Margin	7.08%	-2.80%	-3.71%	-28.81%	-1.32%
Free Cash Flow Per Share	0.39	-0.26	-0.43	-2.36	-0.03
Levered Free Cash Flow	31.67	-84.26	-122.73	-326.02	-47.96
Unlevered Free Cash Flow	35.37	-57.42	-98.71	-319.23	-46.96
Change in Working Capital	-114.19	207.7	-99.4	-236.34	-44.75

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