IST:BRISA 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	-1,087	1,988	5,754	2,509	1,005
Depreciation & Amortization	2,838	2,815	2,128	1,390	222.17
Other Amortization	332.97	314.89	-	-	-
Loss (Gain) From Sale of Assets	4.15	-5.24	16.09	-1.15	3.64
Asset Writedown & Restructuring Costs	-	-	-	-	-2.82
Provision & Write-off of Bad Debts	0.67	-84.6	69.42	50.03	-1.9
Other Operating Activities	2,910	2,187	-3,058	933.55	-262.67
Change in Accounts Receivable	5,890	1,591	2,201	-1,213	-331.62
Change in Inventory	509.48	-953.61	1,373	-878.15	-384.73
Change in Accounts Payable	-5,006	-4,035	-3,704	-312.98	1,580
Change in Unearned Revenue	130.61	-169	179.63	-3.78	11.75
Change in Other Net Operating Assets	231.14	370.37	53.32	7.6	-67.55
Operating Cash Flow	6,754	4,019	5,012	2,481	1,771
Operating Cash Flow Growth	68.03%	-19.81%	102.05%	40.08%	79.77%
Capital Expenditures	-2,038	-3,611	-1,936	-1,553	-439.73
Sale of Property, Plant & Equipment	16.86	10.99	3.65	2.59	1.42
Cash Acquisitions	-	-	-	-315.95	-
Investment in Securities	813.19	-26.17	1,010	-1,636	-
Other Investing Activities	64.36	464.08	821.42	123.92	-
Investing Cash Flow	-1,144	-3,162	-100.94	-3,378	-438.31
Short-Term Debt Issued	22.67	-	-	-	-
Long-Term Debt Issued	12,189	7,941	13,009	5,352	1,218
Total Debt Issued	12,211	7,941	13,009	5,352	1,218
Short-Term Debt Repaid	-	-74.57	-	-19.19	-2.77
Long-Term Debt Repaid	-12,950	-17,178	-5,978	-5,337	-831.08
Total Debt Repaid	-12,950	-17,252	-5,978	-5,356	-833.85
Net Debt Issued (Repaid)	-738.82	-9,312	7,031	-4.23	384.45
Common Dividends Paid	-967.18	-1,910	-2,520	-1,461	-269.99
Other Financing Activities	-2,663	2,800	3,897	2,842	563.63
Financing Cash Flow	-4,369	-8,422	8,408	1,377	678.09
Foreign Exchange Rate Adjustments	1.17	3.25	11.56	-3,540	0.61
Miscellaneous Cash Flow Adjustments	-2,156	-7,623	-3,399	-	-
Net Cash Flow	-914.43	-15,184	9,932	-3,061	2,011
Free Cash Flow	4,716	408.26	3,076	928.1	1,331
Free Cash Flow Growth	1055.05%	-86.73%	231.46%	-30.28%	79.16%
Free Cash Flow Margin	11.40%	0.90%	8.04%	3.45%	20.06%
Free Cash Flow Per Share	15.46	1.34	10.08	3.04	4.36
Cash Interest Paid	6,026	6,199	2,120	1,048	276.78
Cash Income Tax Paid	103.16	210.14	587.72	31.8	14.92
Levered Free Cash Flow	106.76	-6,536	479.97	-495.95	1,153
Unlevered Free Cash Flow	3,256	-3,422	1,564	297.29	1,344
Change in Working Capital	1,756	-3,196	102.88	-2,400	807.9

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.