IST:CRDFA Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	916.25	916.25	119.38	66.11	30.15	13.53
Depreciation & Amortization	11.58	11.58	8.81	3.1	0.55	0.93
Other Operating Activities	295.46	-11.58	-8.81	-3.1	-0.55	-0.93
Change in Accounts Receivable	-876.8	-885.58	-443.48	-233.45	-97.01	-88.67
Change in Other Net Operating Assets	-1,402	-1,172	37.95	215.94	31.71	38.5
Operating Cash Flow	-1,055	-1,141	-286.15	48.6	-35.15	-36.64
Capital Expenditures	-11.28	-27.61	-6.67	-16.43	-0.87	-0.17
Sale of Property, Plant & Equipment	1.55	1.55	0.02	0.01	-	-
Other Investing Activities	-	-	-	-0	-	-
Investing Cash Flow	-9.73	-26.06	-6.65	-16.42	-0.87	-0.17
Short-Term Debt Issued	-	19,652	14,793	8,190	19,229	2,587
Total Debt Issued	19,946	19,652	14,793	8,190	19,229	2,587
Short-Term Debt Repaid	-	-18,426	-14,473	-8,230	-19,224	-2,501
Total Debt Repaid	-18,833	-18,426	-14,473	-8,230	-19,224	-2,501
Net Debt Issued (Repaid)	1,113	1,227	319.31	-40.04	5.27	85.89
Financing Cash Flow	1,113	1,227	319.31	-40.04	5.27	85.89
Net Cash Flow	47.88	59.38	26.51	-7.86	-30.75	49.08
Free Cash Flow	-1,067	-1,169	-292.83	32.17	-36.02	-36.81
Free Cash Flow Margin	-95.96%	-112.93%	-45.93%	10.38%	-22.70%	-38.09%
Free Cash Flow Per Share	-	-3.90	-0.98	0.11	-0.14	-0.12
Cash Interest Paid	579.53	579.53	334.97	150.91	82.95	57.7
Cash Income Tax Paid	96.84	96.84	66.21	19.48	13.04	2.64
Levered Free Cash Flow	-743.23	-726.1	-315	-180.52	-72.51	-76.72
Unlevered Free Cash Flow	-345.47	-363.89	-105.64	-86.19	-20.67	-40.66
Change in Working Capital	-2,279	-2,057	-405.54	-17.51	-65.31	-50.17

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