IST:CRFSA 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	-6,539	-3,732	1,739	1,161	-430.49
Depreciation & Amortization	4,516	4,414	3,031	1,817	384.58
Loss (Gain) From Sale of Assets	7.43	-	-	-33.67	24.42
Asset Writedown & Restructuring Costs	220.5	30.05	434.85	-1.58	0.43
Provision & Write-off of Bad Debts	54.33	31.41	4.34	2.85	2.51
Other Operating Activities	3,175	2,664	-608.61	358.63	468.49
Change in Accounts Receivable	134.46	-236.19	-512.65	-284.54	-72.42
Change in Inventory	746.56	145.22	-765.19	-554.46	-422.86
Change in Accounts Payable	-108.04	-1,533	790.15	1,330	492.76
Change in Other Net Operating Assets	-58.91	341.39	608.35	-452.97	-32.79
Operating Cash Flow	2,149	2,126	4,721	3,342	414.63
Operating Cash Flow Growth	1.06%	-54.96%	41.25%	706.02%	-47.38%
Capital Expenditures	-1,250	-1,090	-1,245	-727.52	-184.76
Sale of Property, Plant & Equipment	214.57	71.74	97.79	391.67	118.8
Divestitures	-	-	-	-	212
Sale (Purchase) of Intangibles	-355.42	-250.2	-258.85	-143.12	-31.92
Investing Cash Flow	-1,391	-1,269	-1,406	-478.97	114.12
Short-Term Debt Issued	46,656	16,350	3,145	2,484	1,092
Total Debt Issued	46,656	16,350	3,145	2,484	1,092
Short-Term Debt Repaid	-36,095	-10,744	-2,926	-2,497	-1,062
Long-Term Debt Repaid	-2,617	-2,295	-1,637	-1,026	-
Total Debt Repaid	-38,711	-13,039	-4,563	-3,522	-1,062
Net Debt Issued (Repaid)	7,945	3,311	-1,418	-1,038	30
Other Financing Activities	-6,315	-3,764	-1,155	-745.86	-599.08
Financing Cash Flow	1,630	-453.03	-2,573	-1,784	-569.08
Foreign Exchange Rate Adjustments	41.05	38.59	-	12.32	0.46
Miscellaneous Cash Flow Adjustments	-631.69	-991.22	-1,115	-1,492	-
Net Cash Flow	1,797	-548.23	-373.38	-400.61	-39.87
Free Cash Flow	898.78	1,036	3,476	2,614	229.87
Free Cash Flow Growth	-13.24%	-70.20%	32.95%	1037.37%	-63.83%
Free Cash Flow Margin	1.07%	1.21%	5.43%	7.21%	2.45%
Free Cash Flow Per Share	7.03	8.11	27.20	20.46	1.80
Cash Interest Paid	6,359	3,821	1,224	727.52	180.75
Levered Free Cash Flow	-5,408	-4,355	-1,438	605.04	-96.72
Unlevered Free Cash Flow	2,706	2,310	1,251	1,968	410.82
Change in Working Capital	714.07	-1,282	120.66	37.63	-35.31

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