IST:EGSER 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	-1,167	-1,165	-155.75	221.62	262.66
Depreciation & Amortization	253.95	237.48	252.17	170.74	25.71
Loss (Gain) From Sale of Assets	-0.88	-5.86	-10.7	0.07	-2.54
Provision & Write-off of Bad Debts	0.02	-	-0.03	-0	-0
Other Operating Activities	714.03	20.96	124.9	-21.28	80.49
Change in Accounts Receivable	-1,478	-218.33	-258.94	-39.71	-189.57
Change in Inventory	175.91	707.84	-221.16	-328.47	-62.33
Change in Accounts Payable	324.2	662.78	156.6	57.09	141.55
Change in Unearned Revenue	935.81	309.8	27.58	11.91	14.33
Change in Other Net Operating Assets	-62.29	-188.92	-194.22	-162.38	-45.74
Operating Cash Flow	-304.82	360.81	-279.55	-90.42	224.55
Operating Cash Flow Growth	-	-	-	-	65.74%
Capital Expenditures	-244.36	-1,225	-262.63	-236.53	-42.67
Sale of Property, Plant & Equipment	7.15	13.96	0.78	1.57	2.87
Sale (Purchase) of Intangibles	-6.24	20.29	-26.93	-15.47	-4.76
Sale (Purchase) of Real Estate	-	-	-	-	-1.75
Other Investing Activities	-	-	-	133.68	-0
Investing Cash Flow	-243.45	-1,191	-288.78	-116.75	-46.32
Long-Term Debt Issued	1,922	780.77	643.8	254.31	-
Long-Term Debt Repaid	-1,225	-214.08	-810.57	-	-8.45
Net Debt Issued (Repaid)	696.66	566.69	-166.76	254.31	-8.45
Issuance of Common Stock	-	101.03	624.68	-	-
Common Dividends Paid	-	-	-	-196.8	-76.75
Other Financing Activities	0	-	-	-175.41	-0
Financing Cash Flow	696.66	667.71	457.92	-117.91	-85.2
Miscellaneous Cash Flow Adjustments	81.49	-	-	-0	-
Net Cash Flow	229.87	-162.27	-110.42	-325.07	93.03
Free Cash Flow	-549.18	-864.23	-542.18	-326.94	181.88
Free Cash Flow Growth	-	-	-	-	110.03%
Free Cash Flow Margin	-12.16%	-24.53%	-13.71%	-7.66%	17.14%
Free Cash Flow Per Share	-0.76	-1.20	-0.75	-1.15	0.64
Levered Free Cash Flow	-603.58	-788.46	-770.91	-648.84	49.05
Unlevered Free Cash Flow	-144.95	-587.6	-676.43	-588.72	57.83
Change in Working Capital	-104.5	1,273	-490.14	-461.57	-141.76

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