IST:EMPAE 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
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	101.7	82.71	88.35	305.36
Depreciation & Amortization	32.73	32.43	18.68	11.02
Loss (Gain) From Sale of Assets	0.58	0.58	-0.63	-
Other Operating Activities	-0.72	29.96	11.22	184.51
Change in Accounts Receivable	-248.93	-271.08	132.91	-368.11
Change in Inventory	-33.06	-249.74	0.82	26.42
Change in Accounts Payable	109.38	310.47	-183.09	218.23
Change in Other Net Operating Assets	-69.26	-22.81	-32.22	49.48
Operating Cash Flow	-114.16	-87.49	36.04	426.92
Operating Cash Flow Growth	-	-	-91.56%	-
Capital Expenditures	-38.01	-47.52	-5.49	-1.22
Sale of Property, Plant & Equipment	-	-	0.63	-
Sale (Purchase) of Intangibles	-0.85	-0.85	-0.25	-0.57
Investment in Securities	-269.28	-12.21	-	-
Investing Cash Flow	-308.15	-60.58	-5.1	-1.8
Long-Term Debt Issued	-	129.68	-	109.22
Long-Term Debt Repaid	-	-22.26	-89.75	-4.74
Net Debt Issued (Repaid)	6.86	107.42	-89.75	104.48
Common Dividends Paid	-	-71.35	-98.54	-138.37
Other Financing Activities	28.97	-0.49	-	-0.25
Financing Cash Flow	643.1	35.58	-188.29	-34.14
Foreign Exchange Rate Adjustments	-1.82	-0.09	-	-
Miscellaneous Cash Flow Adjustments	-27.34	-23.32	-79	-39.02
Net Cash Flow	191.64	-135.91	-236.35	351.95
Free Cash Flow	-152.17	-135.01	30.55	425.7
Free Cash Flow Growth	-	-	-92.82%	-
Free Cash Flow Margin	-3.94%	-3.72%	0.87%	8.36%
Free Cash Flow Per Share	-1.03	-0.96	0.22	3.02
Cash Interest Paid	2.69	0.49	-	0.25
Cash Income Tax Paid	116.79	91.12	110.23	170.23
Levered Free Cash Flow	-	-8.18	146.16	-
Unlevered Free Cash Flow	-	10.63	156.24	-
Change in Working Capital	-246.39	-233.16	-81.58	-73.98