IST:EMKEL 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	-56.67	-14.78	-31.86	-39.92	12.27
Depreciation & Amortization	33.66	24.01	18.99	15.3	2.46
Loss (Gain) From Sale of Investments	-	-	1.31	0.02	-
Loss (Gain) on Equity Investments	-	6.02	-3.05	-	-0.23
Other Operating Activities	34.56	5.77	53.78	-38.76	21.32
Change in Accounts Receivable	-139.77	37.4	23.23	54.03	-33.58
Change in Inventory	-19.77	-219.86	-53.45	84.97	-20.54
Change in Accounts Payable	-77.09	-64.33	-10.02	-104.26	22.47
Change in Unearned Revenue	150.6	7.43	0.26	4.21	0.7
Change in Other Net Operating Assets	-4.91	115.88	-15.38	97.74	-32.99
Operating Cash Flow	-79.38	-102.46	-16.18	73.33	-28.12
Capital Expenditures	-407.15	-5.57	-6.48	-0.58	-15.37
Sale of Property, Plant & Equipment	332.54	12.58	6.66	-	-
Sale (Purchase) of Intangibles	-	-	-	-19.74	-
Investing Cash Flow	-74.61	7.01	0.18	-20.32	-15.37
Long-Term Debt Issued	215.58	34.07	31.96	-	1.69
Long-Term Debt Repaid	-	-	-33.4	-55.6	-5.35
Net Debt Issued (Repaid)	215.58	34.07	-1.45	-55.6	-3.66
Issuance of Common Stock	-	3.95	108.1	-	51.03
Common Dividends Paid	-	-	-	-1.34	-
Financing Cash Flow	215.58	38.03	106.65	-56.95	47.36
Foreign Exchange Rate Adjustments	0.47	-	-	-11.36	-0.05
Miscellaneous Cash Flow Adjustments	-2.59	-32.37	-22.8	-	-
Net Cash Flow	59.47	-89.8	67.85	-15.3	3.83
Free Cash Flow	-486.54	-108.04	-22.65	72.75	-43.49
Free Cash Flow Margin	-55.53%	-10.62%	-3.71%	14.90%	-18.36%
Free Cash Flow Per Share	-3.24	-0.72	-0.30	0.97	-0.58
Levered Free Cash Flow	-481.34	-153.73	-130.74	-49.72	-22
Unlevered Free Cash Flow	-427.95	-111.15	-116.5	-39.72	-16.67
Change in Working Capital	-90.94	-123.49	-55.35	136.69	-63.94

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