IST:ETILR 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	11.38	43.85	-38.49	39.43	14.7
Depreciation & Amortization	30.54	22.53	11.73	4.54	0.61
Loss (Gain) From Sale of Assets	-0.37	-	-	-	-0.1
Provision & Write-off of Bad Debts	1.05	2.14	0.47	-0.82	0.05
Other Operating Activities	71.49	91.23	31.28	-2.79	-0.99
Change in Accounts Receivable	-213.21	-194.16	27.8	-109.02	-21.26
Change in Inventory	-115.46	53.58	-59.97	6.38	-4.54
Change in Accounts Payable	92.47	11.96	-23.81	62.64	5.87
Change in Unearned Revenue	-17.53	-8.81	24	37.23	0.67
Change in Other Net Operating Assets	-19.59	-34.74	-29.45	-13.43	-2.5
Operating Cash Flow	-159.23	-12.42	-56.42	24.16	-7.49
Capital Expenditures	-43.79	-31.98	-54.41	-84.75	-
Sale of Property, Plant & Equipment	0.71	0.08	51.43	1.21	0.09
Sale (Purchase) of Real Estate	-	-	-	-	-5.13
Investing Cash Flow	-43.08	-31.9	-2.99	-83.53	-5.04
Long-Term Debt Issued	505.48	316.18	201.87	90.23	0.02
Total Debt Issued	505.48	316.18	201.87	90.23	0.02
Long-Term Debt Repaid	-276.61	-200.85	-108.23	-11.46	-
Total Debt Repaid	-276.61	-200.85	-108.23	-11.46	-
Net Debt Issued (Repaid)	228.86	115.33	93.64	78.77	0.02
Issuance of Common Stock	120	-	-	-	-
Other Financing Activities	-10.63	-74.95	-25.81	-5.03	-0.24
Financing Cash Flow	338.23	40.37	67.84	73.74	-0.23
Miscellaneous Cash Flow Adjustments	-8.05	-16.9	-21.75	-	-
Net Cash Flow	127.88	-20.85	-13.32	14.36	-12.76
Free Cash Flow	-203.01	-44.41	-110.84	-60.59	-7.49
Free Cash Flow Margin	-9.56%	-3.07%	-23.22%	-21.54%	-25.63%
Free Cash Flow Per Share	-0.85	-0.37	-0.92	-0.51	-0.06
Cash Interest Paid	68.49	74.95	25.81	5.03	0.24
Cash Income Tax Paid	-	-0.1	-1.47	5.04	1.6
Levered Free Cash Flow	-139.99	-190.04	-131.1	-158.89	-18.12
Unlevered Free Cash Flow	-97.18	-143.2	-114.23	-155.13	-18.1
Change in Working Capital	-273.32	-172.17	-61.42	-16.2	-21.76

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