IST:BYDNR 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-100.95	-153.46	200.44	131.68
Depreciation & Amortization	690.28	527.95	491.8	341.18
Loss (Gain) From Sale of Assets	-1.83	-	-	-
Loss (Gain) on Equity Investments	-	-	-1.18	-
Provision & Write-off of Bad Debts	-	-	-	0.36
Other Operating Activities	239.86	-192.91	-86.21	-60.61
Change in Accounts Receivable	-33.49	9.8	-57.96	11.14
Change in Inventory	106.29	-14.2	-28.2	-75.53
Change in Accounts Payable	94.99	241.42	80.54	6.62
Change in Unearned Revenue	-	-	-	-48.19
Change in Other Net Operating Assets	-111.76	-428.5	-46.63	30.83
Operating Cash Flow	883.4	-9.9	552.6	337.47
Operating Cash Flow Growth	-	-	63.75%	-
Capital Expenditures	-1,194	-403.04	-653.28	-84.79
Sale of Property, Plant & Equipment	11.24	5.39	10.84	0.34
Cash Acquisitions	-	-42.54	-	-
Sale (Purchase) of Intangibles	-	-	-	-2.48
Other Investing Activities	174.01	322.01	116.43	-
Investing Cash Flow	-1,009	-118.18	-526.01	-86.93
Long-Term Debt Issued	83.49	595.46	306.1	254.84
Long-Term Debt Repaid	-14.55	-72.76	-175.85	-443.12
Net Debt Issued (Repaid)	68.94	522.7	130.25	-188.28
Issuance of Common Stock	-	-	394.6	-
Common Dividends Paid	-61.78	-	-	-
Other Financing Activities	-177.26	-404.07	-182.37	6.19
Financing Cash Flow	-170.11	118.63	342.48	-182.09
Foreign Exchange Rate Adjustments	0.03	0.04	0.02	-
Miscellaneous Cash Flow Adjustments	-108.58	-87.7	-90.3	-
Net Cash Flow	-403.99	-97.11	278.79	68.45
Free Cash Flow	-310.57	-412.93	-100.68	252.67
Free Cash Flow Margin	-7.84%	-10.01%	-3.59%	16.30%
Free Cash Flow Per Share	-3.70	-5.74	-1.40	3.61
Cash Interest Paid	177.26	404.07	179.64	-
Cash Income Tax Paid	44.19	89.67	41.31	-78.14
Levered Free Cash Flow	-651.54	76.21	-143.19	-
Unlevered Free Cash Flow	-578.49	265.94	-67	-
Change in Working Capital	56.04	-191.48	-52.25	-75.14

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