IST:BULGS Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-655.78	1,384	1,803	-1.71	72.49
Depreciation & Amortization	8.35	8.51	4.76	2.28	2.11
Other Operating Activities	81.94	-135.21	81.95	0.14	-79.17
Change in Accounts Receivable	0.01	-0.49	0.07	-	-
Change in Accounts Payable	-0.12	-0.37	0.36	0.42	-0.57
Change in Income Taxes	-3.51	-1.43	-0.64	-	-
Change in Other Net Operating Assets	-313.73	0.47	17.12	-0.14	-0
Operating Cash Flow	-882.84	1,256	1,907	0.99	-5.15
Operating Cash Flow Growth	-	-34.15%	191594.82%	-	-
Capital Expenditures	-2.73	-4.6	-0.62	-0.29	-0.84
Sale (Purchase) of Intangibles	0.02	-0.08	-0.02	-0.01	-0.02
Investment in Securities	533.81	-1,375	-2,115	-10.73	-159.14
Other Investing Activities	-	-	-	-	-14.99
Investing Cash Flow	531.1	-1,379	-2,115	-11.03	-175
Long-Term Debt Issued	-	-	6.44	0.02	-
Total Debt Issued	-	-	6.44	0.02	14.65
Long-Term Debt Repaid	-	-5.23	-	-2.82	-
Net Debt Issued (Repaid)	-5.17	-5.23	6.44	-2.79	14.65
Issuance of Common Stock	766.57	160	181.65	57.04	200.16
Other Financing Activities	-	-	-	0.02	-
Financing Cash Flow	761.39	154.77	188.09	54.27	214.81
Foreign Exchange Rate Adjustments	-19.37	-19.37	-21.63	-	-
Miscellaneous Cash Flow Adjustments	-5.57	-	-	-	-0
Net Cash Flow	384.71	11.57	-42.06	44.24	34.66
Free Cash Flow	-885.57	1,251	1,906	0.7	-5.99
Free Cash Flow Growth	-	-34.37%	270967.87%	-	-
Free Cash Flow Margin	-38.26%	38.13%	297.60%	0.27%	-4.91%
Free Cash Flow Per Share	-4.08	6.25	47.65	0.02	-0.20
Levered Free Cash Flow	892.27	1,403	164.16	11.63	-
Unlevered Free Cash Flow	903.91	1,406	164.72	12.14	-
Change in Net Working Capital	4.04	1.89	0.02	-0.43	-

Updated Mar 3, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.