IST:FRIGO 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	-296.51	140.59	-76	-24.68	7.18
Depreciation & Amortization	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	-0.94	-6.2	-	-	-
Other Operating Activities	393.5	487.42	194.44	79.8	-2.9
Change in Accounts Receivable	-78.72	-7.03	13.04	-68.35	-4.09
Change in Inventory	-70.58	-268.86	-144.77	-130.53	-72.48
Change in Accounts Payable	54.17	-76.98	18.12	52.59	30.17
Change in Unearned Revenue	25.41	74.67	-25.34	-5.82	41.23
Change in Other Net Operating Assets	-43.94	-174.22	-137.33	26.14	-29.46
Operating Cash Flow	262.38	-42.88	-120.86	-41.39	-26.42
Capital Expenditures	-140.6	-154.94	-5.51	-48.82	-20.73
Sale of Property, Plant & Equipment	13.71	6.94	25.97	-	0.27
Sale (Purchase) of Intangibles	-0.65	-	-41.88	-0.89	-
Investing Cash Flow	-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)	-40.8	-67.52	131.79	-2.18	2.89
Issuance of Common Stock	-	254.82	-	-	94.86
Other Financing Activities	-18.41	52.65	-27.46	-44.74	0.86
Financing Cash Flow	-59.21	239.96	104.34	-46.92	98.61
Foreign Exchange Rate Adjustments	-	-	-	-55.71	-
Miscellaneous Cash Flow Adjustments	-16.34	-8.94	-36.35	-	-
Net Cash Flow	59.29	40.15	-74.28	-193.73	51.72
Free Cash Flow	121.78	-197.81	-126.37	-90.21	-47.16
Free Cash Flow Margin	9.93%	-17.96%	-11.59%	-11.78%	-29.39%
Free Cash Flow Per Share	0.83	-1.34	-1.03	-0.74	-0.39
Cash Interest Paid	18.56	31.66	31.19	48.65	0.28
Cash Income Tax Paid	-	47.08	-	-	-1.74
Levered Free Cash Flow	-17.7	-144.47	-142.75	-127.27	-20.42
Unlevered Free Cash Flow	33	-122.05	-110.54	-124.02	-19.91
Change in Working Capital	75.9	-724.95	-276.28	-125.96	-34.63

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