IST:EBEBK 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	55.5	151.81	436.17	269.41	-2.56
Depreciation & Amortization	1,136	740.53	598.72	330.02	78.57
Loss (Gain) From Sale of Assets	-19.11	-10.17	-50.83	-11.26	-
Other Operating Activities	-90.38	-581.78	-838.31	-537.97	121.65
Change in Accounts Receivable	-136.4	-39.23	-10.92	-39.83	-
Change in Inventory	480.99	-505.38	-376.8	-790.83	-
Change in Accounts Payable	1,203	2,592	1,480	1,380	-
Change in Other Net Operating Assets	455.79	207.18	-470.05	-123.62	-
Operating Cash Flow	3,085	2,555	767.7	475.5	197.66
Operating Cash Flow Growth	20.72%	232.85%	61.45%	140.56%	511.30%
Capital Expenditures	-947	-934.01	-597.04	-294.35	-79
Sale of Property, Plant & Equipment	27.18	19.7	82.6	25.85	-
Sale (Purchase) of Intangibles	-539.23	-295.54	-113.42	-20.66	-
Investment in Securities	-312.12	77.17	-123.4	-	-
Other Investing Activities	55.31	-33.45	-	-	0.08
Investing Cash Flow	-1,716	-1,166	-751.27	-289.17	-78.92
Short-Term Debt Issued	-	-	1,890	914.56	-
Long-Term Debt Issued	2,836	1,572	-	-	-
Total Debt Issued	2,836	1,572	1,890	914.56	-
Short-Term Debt Repaid	-	-	-1,690	-661.54	-
Long-Term Debt Repaid	-2,333	-1,793	-224.15	-152.32	-
Total Debt Repaid	-2,333	-1,793	-1,914	-813.86	-
Net Debt Issued (Repaid)	503.74	-221.53	-23.68	100.7	-
Issuance of Common Stock	-	-	1,535	-	-
Common Dividends Paid	-161.41	-106.44	-	-	-
Other Financing Activities	-665.28	-502.74	-367.14	-237.24	-105.1
Financing Cash Flow	-322.95	-830.71	1,144	-136.54	-105.1
Foreign Exchange Rate Adjustments	23.65	-25.76	12.68	-0.95	-
Miscellaneous Cash Flow Adjustments	-393.29	-503.11	-50.22	-25.48	-
Net Cash Flow	676.3	29.6	1,123	23.36	13.65
Free Cash Flow	2,138	1,621	170.65	181.14	118.66
Free Cash Flow Growth	31.86%	850.06%	-5.79%	52.65%	-
Free Cash Flow Margin	7.72%	6.76%	1.04%	2.08%	5.75%
Free Cash Flow Per Share	13.36	10.13	1.07	1.13	-
Cash Interest Paid	665.28	502.74	367.14	237.24	-
Cash Income Tax Paid	237.55	94.9	69.55	59.85	-
Levered Free Cash Flow	498.82	68.95	-1,285	-794.83	8.71
Unlevered Free Cash Flow	675.89	199.23	-1,188	-739.23	73.42
Change in Working Capital	2,003	2,255	621.95	425.28	-

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