IST:EGEGY 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	811.88	-352.2	-42.16	148.25	30.33
Depreciation & Amortization	8.26	4.08	3.11	3.12	1.41
Asset Writedown & Restructuring Costs	0.24	-153.89	-298.4	-103.25	-
Loss (Gain) From Sale of Investments	-58.78	-98.23	-76.26	-2.69	-0.17
Provision & Write-off of Bad Debts	-0.5	3.54	3.44	4.47	5.16
Other Operating Activities	93.22	271.67	-42.36	115.1	59.45
Change in Accounts Receivable	363.21	22.86	-33.76	-134.23	-15.6
Change in Inventory	-1,153	-1,632	-1,283	-7.63	-168.29
Change in Accounts Payable	565.4	8.06	143.16	24.82	2.01
Change in Unearned Revenue	-992.96	1,629	1,452	879.93	183.89
Change in Other Net Operating Assets	-413.79	-128.01	133.79	-495.77	-115.27
Operating Cash Flow	-776.84	-425.62	-40.32	432.12	-17.07
Capital Expenditures	-11.4	-0.92	-0.69	-	-1.92
Cash Acquisitions	-	-	-101.33	-	-
Sale (Purchase) of Real Estate	45	-43.79	-76.8	-24.85	-
Other Investing Activities	186.76	-13.6	-63.72	-13.73	0.17
Investing Cash Flow	220.35	-58.31	-242.54	-38.58	-1.75
Long-Term Debt Issued	100.63	332.24	276.94	2.39	30.02
Long-Term Debt Repaid	-226.76	-58.67	-55.59	-65.65	-58.89
Net Debt Issued (Repaid)	-126.13	273.57	221.36	-63.26	-28.87
Issuance of Common Stock	734.44	401.8	167.3	171.53	-
Other Financing Activities	-19.96	-197.36	-67.76	-140.72	26.35
Financing Cash Flow	588.35	478.01	320.9	-32.45	-2.52
Miscellaneous Cash Flow Adjustments	-47.32	-84.94	-125.75	-190.86	-122.05
Net Cash Flow	-15.46	-90.86	-87.71	170.23	-143.4
Free Cash Flow	-788.24	-426.54	-41.01	432.12	-18.99
Free Cash Flow Margin	-32.66%	-343.16%	-12.61%	38.32%	-3.48%
Free Cash Flow Per Share	-3.97	-2.77	-0.28	10.23	-2.21
Cash Interest Paid	136.82	203.61	17.37	18.25	38.5
Cash Income Tax Paid	32.2	5.74	15.38	-0.02	-1.28
Levered Free Cash Flow	-479.85	1,362	95.39	-217	-
Unlevered Free Cash Flow	-412.75	1,526	156.94	-198.33	-
Change in Working Capital	-1,631	-100.59	412.31	267.11	-113.25

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