IST:CONSE 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	118.62	151.7	302.38	76	33.01
Depreciation & Amortization	397.28	281.61	245	173.14	40.33
Loss (Gain) on Sale of Assets	-21.34	510.13	-18.1	-4.45	-9.99
Loss (Gain) on Sale of Investments	-	-	-	-0.51	-
Change in Accounts Receivable	-63.35	-92.95	-57.53	-38.97	-21.15
Change in Inventory	0.08	54.9	-191.55	-94.33	-27.37
Change in Accounts Payable	-20.64	69.17	70.58	35.32	0.42
Change in Unearned Revenue	6.36	1.41	6.43	-3.27	4.19
Change in Other Net Operating Assets	-564.2	25.07	-70.76	-44.15	7.35
Other Operating Activities	412.94	-724.29	-126.59	119.6	104.19
Operating Cash Flow	265.76	276.05	159.87	218.39	130.99
Operating Cash Flow Growth	-3.73%	72.68%	-26.80%	66.72%	90.56%
Capital Expenditures	-790.78	-519.94	-444.31	-200.73	-28.31
Sale of Property, Plant & Equipment	22.6	75.48	18.35	32.27	6.97
Sale (Purchase) of Intangibles	-0.71	-0.16	-0.29	-4.9	-2.32
Investment in Securities	1,019	-	-	-	-
Investing Cash Flow	250.49	-444.62	-426.25	-173.36	-23.66
Short-Term Debt Issued	-	18.65	-	8.9	5.94
Long-Term Debt Issued	4,151	1,369	1,635	484.37	266.24
Total Debt Issued	4,151	1,388	1,635	493.27	272.19
Short-Term Debt Repaid	-	-	-26.2	-	-
Long-Term Debt Repaid	-1,459	-1,511	-1,148	-496.65	-351.23
Total Debt Repaid	-1,459	-1,511	-1,174	-496.65	-351.23
Net Debt Issued (Repaid)	2,693	-123.36	460.46	-3.38	-79.04
Issuance of Common Stock	-	389.76	-	-	-
Repurchase of Common Stock	-	-	-	-	-3
Other Financing Activities	213.49	-152.28	-209.36	-161.49	18.48
Financing Cash Flow	2,906	114.12	251.09	-164.87	-63.56
Miscellaneous Cash Flow Adjustments	-8.33	-36.13	52.22	81.92	-
Net Cash Flow	3,414	-90.58	36.92	-37.92	43.77
Free Cash Flow	-525.03	-243.9	-284.44	17.66	102.69
Free Cash Flow Growth	-	-	-	-82.80%	584.65%
Free Cash Flow Margin	-31.17%	-17.81%	-16.68%	1.59%	27.61%
Free Cash Flow Per Share	-	-0.32	-0.74	0.05	0.49
Cash Interest Paid	-	378.72	347.03	162.03	44.76
Levered Free Cash Flow	-695.91	-673.07	-338.74	-322.96	-0.01
Unlevered Free Cash Flow	-395.84	-432.83	-133.44	-229.58	27.52
Change in Working Capital	-641.74	57.59	-242.82	-145.4	-36.55

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