IST:BTCIM 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	-228.76	28.82	2,648	631.55	-604.41
Depreciation & Amortization	1,308	1,409	993.52	576.69	82.29
Loss (Gain) From Sale of Assets	30.29	0.01	90.92	258.82	0.7
Asset Writedown & Restructuring Costs	-	58.74	-	-	-
Provision & Write-off of Bad Debts	7.49	0.28	3.96	-0.07	-0.01
Other Operating Activities	-89.26	-513.19	-1,083	-655.87	715.11
Change in Accounts Receivable	520.7	-119.53	-1,225	-274.13	-270.82
Change in Inventory	11.82	375.89	329.37	-401.46	-165.65
Change in Accounts Payable	390.29	-668.54	22.13	639.35	309.11
Change in Unearned Revenue	47.02	-206.77	15.89	121.24	-
Change in Other Net Operating Assets	-8.17	-165.64	-138.66	-64.28	8.07
Operating Cash Flow	1,989	199.28	1,657	831.85	74.39
Operating Cash Flow Growth	898.10%	-87.98%	99.23%	1018.24%	-56.59%
Capital Expenditures	-1,074	-475.31	-646.41	-261.78	-37.91
Sale of Property, Plant & Equipment	166.6	20.03	18.93	134.44	0.07
Divestitures	-	1,848	508.42	-	-
Sale (Purchase) of Intangibles	-0.45	-4.67	447.7	-0.03	-0.42
Sale (Purchase) of Real Estate	3.05	1.22	-3.87	-0.42	-0.23
Other Investing Activities	-	-	-	-110.2	2.59
Investing Cash Flow	-904.89	1,389	324.78	-237.99	-35.89
Long-Term Debt Issued	2,199	3,028	2,067	5,733	482.12
Long-Term Debt Repaid	-2,205	-4,023	-2,373	-5,892	-509.47
Net Debt Issued (Repaid)	-6.68	-995.02	-306.25	-158.68	-27.35
Common Dividends Paid	-36.07	-13.35	-	-	-
Other Financing Activities	-1,162	-610.56	-1,413	-210.69	-110.3
Financing Cash Flow	-1,205	-1,619	-1,719	-369.38	-137.65
Foreign Exchange Rate Adjustments	6.14	9.96	4.9	7.45	-
Miscellaneous Cash Flow Adjustments	-100.99	-140.28	-124.89	-55.45	-
Net Cash Flow	-215.76	-160.7	143.12	176.49	-99.16
Free Cash Flow	914.91	-276.03	1,011	570.07	36.48
Free Cash Flow Growth	-	-	77.33%	1462.60%	-77.14%
Free Cash Flow Margin	6.40%	-1.57%	6.09%	5.03%	1.89%
Free Cash Flow Per Share	0.16	-0.05	0.18	0.11	0.01
Cash Interest Paid	1,197	1,067	1,456	378.71	110.3
Cash Income Tax Paid	302.72	445.26	235.2	72.4	7.1
Levered Free Cash Flow	729.48	408.21	-1,424	-649.02	-33.06
Unlevered Free Cash Flow	1,255	1,137	-150.71	45.84	92.38
Change in Working Capital	961.66	-784.6	-996.01	20.72	-119.29

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