IST:EUREN 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	409.22	835.34	1,399	636.1	557.45	114.69
Depreciation & Amortization	269.98	233.89	195.43	96.47	77.58	14.26
Asset Writedown & Restructuring Costs	-	-	-	-62.89	-	-16.82
Provision & Write-off of Bad Debts	-	-	-	0.05	0.74	0.53
Other Operating Activities	1,473	1,285	2,489	994.56	1,269	11.45
Change in Accounts Receivable	-643.39	-1,468	-249.59	-444.31	-665.37	-58.91
Change in Inventory	-62.77	-412.9	69.67	89.67	-107.41	-186.95
Change in Accounts Payable	-361.77	186.77	-356.68	-321.08	-437.4	133.41
Change in Unearned Revenue	0.32	-12.76	-15.92	-26.65	16.26	-
Change in Income Taxes	-25.28	-10.39	5.78	24.91	-59	-
Change in Other Net Operating Assets	-374.48	-599.75	1,438	-504.02	-1,146	26.16
Operating Cash Flow	684.8	36.84	4,975	482.82	-493.49	37.8
Operating Cash Flow Growth	-79.26%	-99.26%	930.41%	-	-	418.26%
Capital Expenditures	-382.07	-783.94	-2,763	-781.83	-382.5	-39.24
Sale of Property, Plant & Equipment	0.79	23.39	62.21	1.81	2.17	1.92
Sale (Purchase) of Intangibles	-	-	-	-3.9	-2.2	-0.53
Sale (Purchase) of Real Estate	-353.92	-353.92	234.78	1.06	20.21	13.54
Investing Cash Flow	-735.21	-1,114	-2,466	-782.86	-362.32	-24.32
Long-Term Debt Issued	-	1,123	-	382.75	11.81	15
Long-Term Debt Repaid	-	-	-2,088	-	-	-
Net Debt Issued (Repaid)	376.7	1,123	-2,088	382.75	11.81	15
Issuance of Common Stock	-	-	-	-	877.14	25
Other Financing Activities	-381.34	-366.03	152.09	-87.49	-44.4	-12.48
Financing Cash Flow	-4.64	756.68	-1,936	295.27	844.56	27.52
Foreign Exchange Rate Adjustments	-	-	-	-	1.1	-0.87
Miscellaneous Cash Flow Adjustments	46.31	-140.31	-19.48	-17.27	-92.29	-
Net Cash Flow	-8.74	-461.26	553.14	-22.04	-102.44	40.14
Free Cash Flow	302.73	-747.09	2,212	-299.01	-875.98	-1.43
Free Cash Flow Margin	3.81%	-10.23%	32.27%	-5.20%	-19.22%	-0.14%
Free Cash Flow Per Share	0.14	-0.36	1.05	-0.14	-0.42	-0.00
Cash Interest Paid	395.5	371.64	52.06	101.15	43.75	7.25
Cash Income Tax Paid	-	-10.64	18.92	72.01	-25.53	15.42
Levered Free Cash Flow	-946.12	-1,568	-1,831	-644.12	-1,010	-9.54
Unlevered Free Cash Flow	-638.16	-1,296	-1,767	-540.58	-977.93	-2.85
Change in Working Capital	-1,467	-2,317	891.7	-1,181	-2,399	-86.29

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