IST:FZLGY Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	360.07	-259.77	355.61	604.62	292.55	-30.85
Depreciation & Amortization	1.06	5.78	8.24	7.01	19.25	24.38
Gain (Loss) on Sale of Assets	1.9	1.9	-133.87	-	-	-
Asset Writedown	-210.86	-7.39	203.66	-646.6	-	-
Change in Accounts Receivable	63.17	729.33	-499.64	1,899	-754.7	20.87
Change in Accounts Payable	253.16	-407.82	-329.88	481.14	24.62	-10.38
Change in Other Net Operating Assets	-193.16	-160.55	-324.69	230.83	-379.52	-187.84
Other Operating Activities	-184.59	-55.36	-219.58	5.61	82.87	31.25
Operating Cash Flow	-658.8	-178.88	-1,069	-1,312	563.78	34.51
Operating Cash Flow Growth	-	-	-	-	1533.50%	-
Acquisition of Real Estate Assets	-285.13	-2.58	-6.18	-126.25	-421.01	-121.58
Sale of Real Estate Assets	-117.52	831.08	88.51	747.62	3.05	4.41
Net Sale / Acq. of Real Estate Assets	-402.64	828.5	82.33	621.37	-417.96	-117.17
Cash Acquisition	-	-	-	278.59	-	-
Other Investing Activities	-	-	-	-	-95.9	-0.12
Investing Cash Flow	-402.64	828.5	82.33	704.56	-419.07	-115.08
Long-Term Debt Issued	-	300	506.23	-	143.21	5.41
Long-Term Debt Repaid	-	-469.1	-294.31	-481.84	-	-
Net Debt Issued (Repaid)	1,056	-169.1	211.92	-481.84	143.21	5.41
Issuance of Common Stock	-	-	975.78	135.73	371.27	125
Common Dividends Paid	-0.07	-173.9	-85.1	-	-	-
Other Financing Activities	-	-	-	-	-360.1	-
Miscellaneous Cash Flow Adjustments	-97.84	-63.21	-23.25	-	-	-
Net Cash Flow	-103.01	243.4	92.32	-953.44	299.08	49.85
Cash Income Tax Paid	182.96	6.8	240.43	15.61	-	-
Levered Free Cash Flow	-4,363	-1,275	-3,002	-2,058	248.94	-
Unlevered Free Cash Flow	-4,238	-1,182	-2,862	-2,005	261.66	-
Change in Working Capital	-626.37	135.96	-1,283	-1,283	169.11	9.73

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.