IST:DERIM 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	93.04	98.97	17.73	-43.77	2.73
Depreciation & Amortization	1.96	5.16	11.79	4.35	0.7
Provision & Write-off of Bad Debts	-	-	3.49	0.52	-0.66
Other Operating Activities	-10.48	1.42	30.03	60.16	14.07
Change in Accounts Receivable	46.01	-510.59	-62.59	116.97	36.03
Change in Inventory	18.71	15.46	11.27	11.88	-22.29
Change in Accounts Payable	152.39	464.24	38.75	-72.93	84.72
Change in Other Net Operating Assets	39.34	1.67	-40.27	127.42	-7.9
Operating Cash Flow	340.97	76.33	10.21	204.6	107.41
Operating Cash Flow Growth	346.73%	647.80%	-95.01%	90.49%	-
Capital Expenditures	-0.32	-0.69	-3.06	-2.42	-
Cash Acquisitions	-82.12	-	-	-	-
Sale (Purchase) of Intangibles	-0.94	-	-	-	-
Investing Cash Flow	-83.38	-0.69	-3.06	-2.42	-
Long-Term Debt Issued	-	43.94	149.74	67.56	23.36
Total Debt Issued	-	43.94	149.74	67.56	23.36
Long-Term Debt Repaid	-32.01	-21.32	-150.15	-142.05	-66
Total Debt Repaid	-32.01	-21.32	-150.15	-142.05	-66
Net Debt Issued (Repaid)	-32.01	22.61	-0.42	-74.49	-42.64
Issuance of Common Stock	-	-	-	27.24	-
Other Financing Activities	55.24	16.73	-14.24	-19.11	-15.74
Financing Cash Flow	23.24	39.35	-14.66	-66.37	-58.39
Foreign Exchange Rate Adjustments	-74.71	-89.45	-98.33	-51.59	-
Net Cash Flow	206.12	25.53	-105.84	84.22	49.02
Free Cash Flow	340.65	75.63	7.15	202.18	107.41
Free Cash Flow Growth	350.40%	957.85%	-96.46%	88.23%	-
Free Cash Flow Margin	7.56%	1.58%	0.19%	10.15%	28.50%
Free Cash Flow Per Share	6.31	1.40	0.13	3.74	3.98
Cash Interest Paid	4.15	18.61	25.38	26.73	16.01
Cash Income Tax Paid	65.02	19.1	36.18	7.13	0.01
Levered Free Cash Flow	183.26	-240.43	-52.87	127.2	76.01
Unlevered Free Cash Flow	513.53	88.88	67.65	181.39	109.17
Change in Working Capital	256.45	-29.23	-52.84	183.34	90.57

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