IST:DOFRB 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	244.95	164.51	167.19	17.09
Depreciation & Amortization	25.01	12.66	9.56	6.82
Other Amortization	40.83	19.57	11.03	5.1
Loss (Gain) From Sale of Assets	-	-	10.77	7.83
Provision & Write-off of Bad Debts	-0.07	-0.06	-0.39	-0.14
Other Operating Activities	-83.56	66.49	-7.59	-4.57
Change in Accounts Receivable	-216.82	-289.1	-17.62	-51.2
Change in Inventory	-101.89	-60.3	-104.43	10.95
Change in Accounts Payable	80.39	83.51	-2.04	8.24
Change in Unearned Revenue	81.49	12.73	121.59	3.95
Change in Other Net Operating Assets	-567.08	-58.09	-129.51	8.78
Operating Cash Flow	-496.74	-48.09	58.56	12.85
Operating Cash Flow Growth	-	-	355.76%	-
Capital Expenditures	-282.22	-93.32	-19.68	-43.08
Sale of Property, Plant & Equipment	-	3.65	26	15.58
Sale (Purchase) of Intangibles	-100.7	-	-	-
Sale (Purchase) of Real Estate	-45.59	-	-	-
Investment in Securities	-6.27	-	-	-
Other Investing Activities	-0.17	-	-	-
Investing Cash Flow	-434.95	-89.67	6.32	-27.5
Long-Term Debt Issued	118.28	260.48	51.15	-
Long-Term Debt Repaid	-	-	-	-2.58
Net Debt Issued (Repaid)	118.28	260.48	51.15	-2.58
Issuance of Common Stock	1,350	-	-	22
Repurchase of Common Stock	-	-	-18.41	-
Common Dividends Paid	-	-18.15	-21.68	-
Other Financing Activities	-50.1	-64.15	-32	-8.64
Financing Cash Flow	1,418	178.19	-20.93	10.78
Foreign Exchange Rate Adjustments	141.24	51.05	-21.46	8.49
Miscellaneous Cash Flow Adjustments	-0	-	-	-
Net Cash Flow	627.73	91.48	22.49	4.62
Free Cash Flow	-778.96	-141.41	38.87	-30.23
Free Cash Flow Margin	-76.98%	-22.51%	9.19%	-19.34%
Free Cash Flow Per Share	-5.03	-1.13	0.31	-0.24
Cash Interest Paid	120.42	65.56	20.13	8.81
Cash Income Tax Paid	0.17	-	2.16	0.03
Levered Free Cash Flow	-898.9	-226.35	-20.08	-
Unlevered Free Cash Flow	-823.64	-185.38	-7.46	-
Change in Working Capital	-723.91	-311.26	-132.01	-19.29

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