Enerjisa Enerji A.S. 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	3,171	-6,352	6,522	20,635	2,282
Depreciation & Amortization	5,878	5,746	4,471	2,795	435.35
Other Amortization	487.22	467.09	334.71	213.33	37.24
Asset Writedown	-184.64	1,018	-779.67	627.06	-310.48
Change in Accounts Receivable	-17,011	-12,124	-17,039	-3,033	-3,363
Change in Inventory	303.03	121.49	-2,982	-2,213	-277.91
Change in Accounts Payable	8,378	4,630	13,647	4,684	2,064
Change in Other Net Operating Assets	7,196	391.19	-575.67	-2,771	463.49
Other Operating Activities	27,922	33,781	1,185	-4,413	2,991
Operating Cash Flow	40,500	32,229	9,341	19,387	5,057
Operating Cash Flow Growth	25.66%	245.01%	-51.81%	283.33%	30.67%
Capital Expenditures	-2,925	-2,667	-3,038	-1,118	-753.88
Sale (Purchase) of Intangibles	-24,236	-21,807	-21,319	-10,682	-2,750
Investment in Securities	-	-	-	-	126.11
Other Investing Activities	2,422	3,469	3,431	477.61	111.55
Investing Cash Flow	-24,739	-21,006	-20,926	-11,323	-3,266
Long-Term Debt Issued	42,600	57,495	52,468	71,622	16,480
Long-Term Debt Repaid	-28,111	-29,214	-30,784	-56,276	-15,757
Net Debt Issued (Repaid)	14,490	28,281	21,684	15,346	722.94
Common Dividends Paid	-4,031	-5,245	-5,743	-3,228	-1,134
Other Financing Activities	-31,529	-27,732	-9,943	-7,066	-1,557
Financing Cash Flow	-21,070	-4,696	5,998	5,053	-1,968
Miscellaneous Cash Flow Adjustments	-2,931	-2,615	-7,828	-438.37	-
Net Cash Flow	-8,240	3,912	-13,415	12,678	-176.58
Free Cash Flow	37,575	29,562	6,303	18,268	4,304
Free Cash Flow Growth	27.11%	368.98%	-65.50%	324.50%	20.88%
Free Cash Flow Margin	16.12%	11.85%	2.59%	11.19%	13.04%
Free Cash Flow Per Share	31.82	25.03	5.34	15.47	3.64
Cash Interest Paid	31,529	27,732	9,943	7,066	1,557
Cash Income Tax Paid	2,938	1,461	4,546	1,183	1,258
Levered Free Cash Flow	-24,873	-9,602	-28,499	6,429	-4,102
Unlevered Free Cash Flow	-6,728	8,971	-18,943	12,016	-3,242
Change in Working Capital	-1,134	-6,982	-6,950	-3,334	-1,114

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.