IST:EFORC Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	281.68	441.13	705.64	165.42	179.14
Depreciation & Amortization	96.04	76.68	50.44	29.61	22.57
Other Amortization	0.1	-	-	0.65	0.44
Loss (Gain) From Sale of Assets	11	9.09	-14.3	-4.32	-32.67
Asset Writedown & Restructuring Costs	-8.66	-6.73	-337.33	-102.05	0.38
Provision & Write-off of Bad Debts	2.93	2.2	10.47	-	-
Other Operating Activities	135.75	-13.24	231.58	118	2.83
Change in Accounts Receivable	-1,232	-145.76	-47.09	-384.93	-287.33
Change in Inventory	-1,217	-1,192	-387.65	-356.5	-108.06
Change in Accounts Payable	3,255	1,835	-820.18	208.55	377.31
Change in Unearned Revenue	-195.46	-156.94	386.23	-114.04	54.69
Change in Other Net Operating Assets	-293.72	-568.37	159.45	-171.96	-12.71
Operating Cash Flow	836.32	281.07	-62.73	-611.56	196.59
Capital Expenditures	-645.77	-880.24	-581.95	-316.3	-25.62
Sale of Property, Plant & Equipment	5.67	14.62	57.58	11.88	63.18
Divestitures	-	-	-	-	-103.77
Sale (Purchase) of Real Estate	-	-	-	-	58.76
Other Investing Activities	-31.92	-	0.26	7.53	9.11
Investing Cash Flow	-638.6	-858.33	-538.55	-320.79	1.66
Long-Term Debt Issued	-	109.06	608.3	703.52	-
Long-Term Debt Repaid	-	-	-	-	-101.61
Net Debt Issued (Repaid)	-996.98	109.06	608.3	703.52	-101.61
Issuance of Common Stock	973.71	973.71	150	196.87	73.19
Other Financing Activities	-125.79	-170.63	-149.93	-80.87	-22.69
Financing Cash Flow	-149.06	912.15	608.37	819.52	-51.11
Net Cash Flow	48.66	334.89	7.09	-112.83	147.14
Free Cash Flow	190.55	-599.17	-644.67	-927.86	170.97
Free Cash Flow Margin	1.98%	-8.90%	-8.61%	-15.44%	6.51%
Free Cash Flow Per Share	0.56	-1.81	-4.24	-8111.83	-
Cash Interest Paid	85.68	249.58	167.93	80.87	22.69
Cash Income Tax Paid	44.86	46.71	43.79	26.86	13.37
Levered Free Cash Flow	44.23	-648.35	-962.22	-876.12	-
Unlevered Free Cash Flow	371.37	-484.91	-851.76	-822.89	-
Change in Working Capital	317.48	-228.05	-709.24	-818.88	23.9

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