IST:CATES 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	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-3,496	-3,429	2,197	2,537	-169.72	-333.36
Depreciation & Amortization	580.89	902.46	1,056	638.32	87.14	46.48
Loss (Gain) on Sale of Assets	0.55	0.49	2.31	-	-	-
Asset Writedown	4,525	4,525	842.57	-	-	-
Change in Accounts Receivable	-483.1	360.73	251.08	-701.25	-16.84	3.94
Change in Inventory	143.83	61.46	12.77	-93.58	-20.76	8.4
Change in Accounts Payable	51.27	-430.87	177.8	66.39	15.12	27.82
Change in Other Net Operating Assets	126.09	-358.84	675.66	-226.56	-13.79	26.77
Other Operating Activities	-1,024	-1,349	-2,691	-1,518	134.9	351.36
Operating Cash Flow	431.19	281.57	2,524	702.08	16.05	131.41
Operating Cash Flow Growth	-76.90%	-88.85%	259.57%	4274.20%	-87.79%	-
Capital Expenditures	-29.67	-64.16	-513.08	-246.89	-18.72	-14.99
Sale (Purchase) of Intangibles	0.02	-0.35	-1.07	-1.12	-0.22	-0.4
Investment in Securities	-	-	-	-	0.1	-
Investing Cash Flow	-29.65	-64.51	-514.15	-248.01	-18.84	-15.38
Long-Term Debt Repaid	-	-757	-1,400	-452.34	-53.76	-19.17
Net Debt Issued (Repaid)	237.47	-757	-1,400	-452.34	-53.76	-19.17
Issuance of Common Stock	2.13	-	1,733	71.19	-	-
Repurchase of Common Stock	-234.47	-5.97	-	-	-	-
Other Financing Activities	511.12	-198.98	-728.01	-36.31	-21.17	-19.27
Financing Cash Flow	516.25	-961.95	-394.76	-417.46	-74.93	-38.43
Foreign Exchange Rate Adjustments	-507.62	-507.62	-23.24	-7.41	-	-
Net Cash Flow	845.9	-1,252	1,592	29.2	-77.72	77.59
Free Cash Flow	401.52	217.42	2,011	455.19	-2.67	116.42
Free Cash Flow Growth	-74.41%	-89.19%	341.89%	-	-	-
Free Cash Flow Margin	8.31%	4.03%	26.31%	7.10%	-0.42%	25.21%
Free Cash Flow Per Share	2.44	1.32	14.51	5.73	-0.06	2.42
Cash Interest Paid	-	542.55	733.43	37.68	22.94	19.75
Cash Income Tax Paid	96.95	107.74	220.56	-	-	-
Levered Free Cash Flow	216.52	134.97	1,187	-8	-61.44	-
Unlevered Free Cash Flow	227.93	203.78	1,562	362.52	-0.3	-
Change in Working Capital	-161.9	-367.52	1,117	-955	-36.27	66.93

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