IST:GIPTA 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	223.84	237.74	198.7	2.26	15.02
Depreciation & Amortization	44.6	31.05	27.28	2.89	1.22
Loss (Gain) From Sale of Assets	1.47	-2.07	-1.36	-0.28	0.07
Loss (Gain) From Sale of Investments	-175.94	-	-4.73	-0.53	-0.09
Loss (Gain) on Equity Investments	10.65	-	-	-	-
Provision & Write-off of Bad Debts	-0.02	0.94	-0.11	-0.11	-0.01
Other Operating Activities	76.24	3.18	-172.4	186.2	-6.33
Change in Accounts Receivable	54.29	-143.94	-17.96	-118.15	-8.68
Change in Inventory	-12.64	152.35	-29.74	30.56	-7.79
Change in Accounts Payable	44	1.04	-30.72	37.48	10.96
Change in Unearned Revenue	-3.47	6	-278.98	73.04	43.38
Change in Other Net Operating Assets	-51.34	79.78	42.19	56.13	-28.56
Operating Cash Flow	211.68	366.06	-267.84	269.49	19.18
Operating Cash Flow Growth	-42.17%	-	-	1304.79%	-
Capital Expenditures	-37.15	-55.31	-123.61	-13.35	-9.25
Sale of Property, Plant & Equipment	0.17	11.08	3.16	1.55	-
Cash Acquisitions	-16.57	-	-	-	-
Sale (Purchase) of Intangibles	-0.05	-	-0.03	-0.11	-0.04
Investment in Securities	128.96	87.64	-309.98	-58.55	8.56
Other Investing Activities	458.37	442.79	175.03	12	4.75
Investing Cash Flow	533.73	486.21	-255.43	-58.47	4.02
Long-Term Debt Issued	105.36	-	139.1	133.08	39.31
Long-Term Debt Repaid	-	-232.56	-109.32	-	-28.3
Net Debt Issued (Repaid)	105.36	-232.56	29.78	133.08	11.02
Issuance of Common Stock	-	-	1,025	68.61	-
Repurchase of Common Stock	-16.47	-	-	-	-
Common Dividends Paid	-157.06	-45.46	-51.6	-54.38	-
Other Financing Activities	-42.8	-76.17	-99.54	-36.98	-4.64
Financing Cash Flow	-110.97	-354.19	903.26	110.33	6.38
Miscellaneous Cash Flow Adjustments	-275.41	-296.83	-178.82	-146.1	-
Net Cash Flow	359.03	201.24	201.17	175.24	29.58
Free Cash Flow	174.53	310.75	-391.45	256.14	9.94
Free Cash Flow Growth	-43.84%	-	-	2477.23%	-
Free Cash Flow Margin	7.72%	11.39%	-20.89%	20.30%	6.49%
Free Cash Flow Per Share	1.32	2.35	-2.97	2.56	0.17
Cash Interest Paid	42.8	76.17	99.54	36.98	4.64
Cash Income Tax Paid	212.68	101.94	77.24	-	-
Levered Free Cash Flow	364.18	-65.47	-411.82	-54.54	-22.83
Unlevered Free Cash Flow	402.03	-6.07	-298.01	-25.59	-19.84
Change in Working Capital	30.85	95.23	-315.21	79.06	9.31

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