IST:DESPC 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	-42.7	19.9	-114.73	-84.15	41.67
Depreciation & Amortization	6.76	4.29	5.78	2.68	0.65
Asset Writedown & Restructuring Costs	-0.08	0.25	-0.22	-0.43	-
Provision & Write-off of Bad Debts	-0.12	0.53	1.09	-0.05	0.03
Other Operating Activities	372.29	396.88	265.47	222.72	9.25
Change in Accounts Receivable	1,286	-1,663	-1,089	13.06	-92.54
Change in Inventory	111.07	-170.85	-175.65	-50.84	-20.55
Change in Accounts Payable	-839.63	1,496	1,351	11.42	31.66
Change in Unearned Revenue	-20.85	9.24	1.19	-	-
Change in Other Net Operating Assets	-367.09	157.32	-58.7	170.52	0.12
Operating Cash Flow	505.86	250.4	187.06	284.94	-29.71
Operating Cash Flow Growth	102.03%	33.86%	-34.35%	-	-
Capital Expenditures	-0.93	-5.85	-0.18	-0.16	-0.11
Sale of Property, Plant & Equipment	-	-	-	0.02	-
Sale (Purchase) of Intangibles	-1.16	-0.07	-1.5	-0.03	-
Investing Cash Flow	-2.09	-5.92	-1.68	-0.17	-0.11
Short-Term Debt Issued	-	-	-	300.49	262.56
Long-Term Debt Issued	526.49	289.63	3.34	-	-
Total Debt Issued	526.49	289.63	3.34	300.49	262.56
Short-Term Debt Repaid	-	-	-	-502.4	-227.94
Long-Term Debt Repaid	-536.22	-295.17	-84.69	-1.61	-0.74
Total Debt Repaid	-536.22	-295.17	-84.69	-504	-228.68
Net Debt Issued (Repaid)	-9.74	-5.53	-81.35	-203.51	33.88
Other Financing Activities	-476.67	-239	-99.67	-80.91	-13
Financing Cash Flow	-486.41	-244.53	-181.02	-284.42	20.88
Miscellaneous Cash Flow Adjustments	-2.89	-5.45	-5.95	-	-
Net Cash Flow	14.48	-5.51	-1.58	0.35	-8.95
Free Cash Flow	504.94	244.54	186.88	284.77	-29.82
Free Cash Flow Growth	106.48%	30.85%	-34.37%	-	-
Free Cash Flow Margin	4.62%	2.55%	3.20%	11.07%	-3.85%
Free Cash Flow Per Share	21.95	10.63	8.13	12.38	-1.30
Cash Interest Paid	476.67	239	99.67	80.91	13
Cash Income Tax Paid	37.45	29.16	30.7	46.26	4.22
Levered Free Cash Flow	-293.39	-650.28	-152.33	-61.08	-83.83
Unlevered Free Cash Flow	426.6	96.82	188.61	35.12	-64.46
Change in Working Capital	169.71	-171.45	29.67	144.17	-81.31

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