IST:FRIGO 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	-253.42	-296.51	140.59	-76	-24.68	7.18
Depreciation & Amortization	90.28	90.43	60.26	36.98	29.5	4.14
Loss (Gain) From Sale of Assets	-	-	-	-	-0.04	-0.21
Provision & Write-off of Bad Debts	1.57	-0.94	-6.2	-	-	-
Other Operating Activities	711.18	393.5	487.42	194.44	79.8	-2.9
Change in Accounts Receivable	-29.64	-78.72	-7.03	13.04	-68.35	-4.09
Change in Inventory	-97.96	-70.58	-268.86	-144.77	-130.53	-72.48
Change in Accounts Payable	-113.98	54.17	-76.98	18.12	52.59	30.17
Change in Unearned Revenue	46.47	25.41	74.67	-25.34	-5.82	41.23
Change in Other Net Operating Assets	-33.17	-43.94	-174.22	-137.33	26.14	-29.46
Operating Cash Flow	510.89	262.38	-42.88	-120.86	-41.39	-26.42
Capital Expenditures	-186.84	-140.6	-154.94	-5.51	-48.82	-20.73
Sale of Property, Plant & Equipment	16.73	13.71	6.94	25.97	-	0.27
Sale (Purchase) of Intangibles	-0.65	-0.65	-	-41.88	-0.89	-
Investing Cash Flow	-170.76	-127.54	-148	-21.41	-49.72	-20.47
Long-Term Debt Issued	-	201.52	-	131.79	1.25	3.91
Long-Term Debt Repaid	-	-242.32	-67.52	-	-3.44	-1.02
Net Debt Issued (Repaid)	-368.27	-40.8	-67.52	131.79	-2.18	2.89
Issuance of Common Stock	147.1	-	254.82	-	-	94.86
Other Financing Activities	-149.16	-18.41	52.65	-27.46	-44.74	0.86
Financing Cash Flow	-370.33	-59.21	239.96	104.34	-46.92	98.61
Foreign Exchange Rate Adjustments	-	-	-	-	-55.71	-
Miscellaneous Cash Flow Adjustments	-26.41	-16.34	-8.94	-36.35	-	-
Net Cash Flow	-56.61	59.29	40.15	-74.28	-193.73	51.72
Free Cash Flow	324.04	121.78	-197.81	-126.37	-90.21	-47.16
Free Cash Flow Margin	27.85%	9.93%	-17.96%	-11.59%	-11.78%	-29.39%
Free Cash Flow Per Share	-	0.29	-0.47	-0.36	-0.26	-0.13
Cash Interest Paid	18.56	18.56	31.66	31.19	48.65	0.28
Cash Income Tax Paid	-	-	47.08	-	-	-1.74
Levered Free Cash Flow	-354.37	-17.7	-144.47	-142.75	-127.27	-20.42
Unlevered Free Cash Flow	-325.62	33	-122.05	-110.54	-124.02	-19.91
Change in Working Capital	-38.72	75.9	-724.95	-276.28	-125.96	-34.63

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