IST:DOFER 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	17.1	-104.09	205.38	35.17
Depreciation & Amortization	83.42	34.91	83.26	37.76
Loss (Gain) From Sale of Assets	-5	-	-	-
Provision & Write-off of Bad Debts	-0.02	-0.56	-	-
Other Operating Activities	-14.2	13.6	-10.15	-154.08
Change in Accounts Receivable	-393.08	-54.34	-66.18	107.91
Change in Inventory	34.9	146.62	-33.18	-1.4
Change in Accounts Payable	73.46	102.45	-232.71	112.65
Change in Unearned Revenue	86.05	-	-	-
Change in Other Net Operating Assets	-143.49	12.82	187.12	-83.13
Operating Cash Flow	-260.86	151.42	133.53	54.87
Operating Cash Flow Growth	-	13.40%	143.37%	-
Capital Expenditures	-118.97	-	-	-0
Sale of Property, Plant & Equipment	7.68	-	-	-
Sale (Purchase) of Real Estate	-9.72	-	-	-
Investment in Securities	-114.2	72.15	-	-
Other Investing Activities	-	-	0.81	-0
Investing Cash Flow	-235.21	72.15	0.81	-0
Long-Term Debt Issued	479.62	580.57	581.7	226.02
Long-Term Debt Repaid	-	-661.86	-529.36	-166.66
Net Debt Issued (Repaid)	479.62	-81.28	52.34	59.36
Common Dividends Paid	-	-45.74	-	-
Other Financing Activities	-106.32	-87.8	-	-59.17
Financing Cash Flow	373.3	-214.83	52.34	0.19
Foreign Exchange Rate Adjustments	-	-	-	-4.75
Miscellaneous Cash Flow Adjustments	-72.02	-131.54	-193.43	42.45
Net Cash Flow	-194.78	-122.8	-6.75	92.76
Free Cash Flow	-379.82	151.42	133.53	54.87
Free Cash Flow Growth	-	13.40%	143.37%	-
Free Cash Flow Margin	-5.51%	3.26%	3.89%	1.91%
Free Cash Flow Per Share	-6.81	2.72	2.40	1.31
Cash Interest Paid	106.32	87.8	71.75	23.11
Levered Free Cash Flow	-339.37	79.76	-165.28	-
Unlevered Free Cash Flow	-271.19	150.77	-109.71	-
Change in Working Capital	-342.15	207.55	-144.96	136.03

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