IST:ELITE Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	175.7	247.06	516.82	185.89	-60.55	38.03
Depreciation & Amortization	91.44	82.78	60.07	29.04	6.34	3.57
Loss (Gain) From Sale of Assets	-5.66	-7.42	-	-	-	-
Provision & Write-off of Bad Debts	2.11	2.13	-	-	-	-
Other Operating Activities	-70.18	-200.34	21.91	-13.55	-56.47	2.57
Change in Accounts Receivable	-108.19	176.72	-107.87	-41.46	357.05	-191.94
Change in Inventory	-23.65	47.27	-67.86	7.46	0.43	-2.7
Change in Accounts Payable	82.41	-130.71	-49.71	9.73	-285.24	97.2
Change in Unearned Revenue	49.26	-0.28	-	-	26.45	-
Change in Other Net Operating Assets	43.31	28.21	36.94	1.74	10.26	31.03
Operating Cash Flow	236.54	245.43	410.3	178.86	-1.74	-22.24
Operating Cash Flow Growth	33.60%	-40.18%	129.41%	-	-	-
Capital Expenditures	-84.18	-101.41	-199.57	-76.46	-31.41	-3.45
Sale of Property, Plant & Equipment	4.38	12.13	10.96	0.25	7.92	-
Sale (Purchase) of Real Estate	-	-	-	-	-10.88	-
Other Investing Activities	-0	-0.01	-	-	-	-0.03
Investing Cash Flow	-79.8	-89.29	-188.61	-76.2	-34.36	-3.49
Long-Term Debt Issued	-	55.51	193.23	129.64	30	83.21
Long-Term Debt Repaid	-	-	-277.28	-62.68	-91.26	-99.91
Net Debt Issued (Repaid)	146.27	55.51	-84.05	66.96	-61.26	-16.71
Issuance of Common Stock	-	-	-	-	-	61.2
Common Dividends Paid	-	-	-	-114.77	-123.94	-
Other Financing Activities	-106.81	-103.19	-62.08	-	-	25.43
Financing Cash Flow	39.46	-47.68	-146.12	-47.81	-185.2	69.92
Miscellaneous Cash Flow Adjustments	-26.66	-27.76	-18.65	-44.07	-	-
Net Cash Flow	169.53	80.71	56.93	10.77	-221.3	44.2
Free Cash Flow	152.36	144.02	210.73	102.4	-33.15	-25.69
Free Cash Flow Growth	16.42%	-31.66%	105.80%	-	-	-
Free Cash Flow Margin	6.23%	6.70%	9.16%	8.29%	-3.16%	-8.42%
Free Cash Flow Per Share	-	1.11	1.63	0.79	-0.26	-0.20
Cash Interest Paid	66.9	66.9	62.08	17.89	-	2.03
Cash Income Tax Paid	-	-	-	-	25.8	10.85
Levered Free Cash Flow	-122.5	311.07	-170.82	-142.99	-178.85	12.73
Unlevered Free Cash Flow	-81.52	352.89	-132.02	-131.81	-174.92	14
Change in Working Capital	43.14	121.22	-188.5	-22.52	108.95	-66.41

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