IST:ECOGR 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	451.4	1,322	2,048	138.98
Depreciation & Amortization	714.56	916.68	526.22	378.11
Provision & Write-off of Bad Debts	15.82	7.6	1.97	1.22
Other Operating Activities	-485.77	1,659	879.24	912.5
Change in Accounts Receivable	-987.12	-211.32	-199.68	-89.97
Change in Inventory	-68.7	79.89	78.43	-129.89
Change in Accounts Payable	731.84	263.85	-459.36	-333.65
Change in Unearned Revenue	497.64	98.17	668.16	-16.03
Change in Other Net Operating Assets	3,129	-592.01	1,764	-2,150
Operating Cash Flow	3,998	3,544	5,307	-1,289
Operating Cash Flow Growth	12.81%	-33.21%	-	-
Capital Expenditures	-205.14	-870.04	-9,217	-1,541
Sale of Property, Plant & Equipment	183.4	34.85	-	-
Sale (Purchase) of Intangibles	-1.9	-4.09	-12.62	-18.77
Sale (Purchase) of Real Estate	13.66	24.87	-36.32	-
Investment in Securities	-	-	-	0.11
Other Investing Activities	232.86	757.55	323.51	86.18
Investing Cash Flow	222.88	-56.86	-8,942	-1,474
Long-Term Debt Issued	3,620	8,563	4,699	4,638
Long-Term Debt Repaid	-4,156	-9,354	-1,375	-1,318
Net Debt Issued (Repaid)	-535.73	-790.57	3,324	3,321
Issuance of Common Stock	110	-	351.13	-
Other Financing Activities	-2,534	-2,373	-737.56	-919.25
Financing Cash Flow	-2,959	-3,163	2,938	2,402
Miscellaneous Cash Flow Adjustments	-101.58	-94.6	247.31	506.23
Net Cash Flow	1,160	229.5	-450.03	145.45
Free Cash Flow	3,793	2,674	-3,910	-2,830
Free Cash Flow Growth	41.84%	-	-	-
Free Cash Flow Margin	60.56%	58.22%	-186.30%	-274.48%
Free Cash Flow Per Share	7.03	6.22	-	-
Cash Interest Paid	2,534	2,373	737.56	919.25
Levered Free Cash Flow	724.97	1,053	-6,256	-
Unlevered Free Cash Flow	749.56	1,061	-6,254	-
Change in Working Capital	3,302	-361.42	1,852	-2,720

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