IST:GSDDE 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	187.1	-45.24	-440.34	62.42	139.25
Depreciation & Amortization	100.1	119.12	99.74	68.66	21.87
Other Amortization	33.14	38.81	21.94	12.88	4.23
Other Operating Activities	169.72	741.71	-581.36	-198.82	-31.65
Change in Accounts Receivable	-0.99	1.56	-2.65	2.35	3.11
Change in Inventory	-23.57	1.18	-0.13	-0.09	-0.9
Change in Accounts Payable	-28.29	12.15	9.28	5.45	0.62
Change in Unearned Revenue	20.74	-12.45	2.57	-6.68	5.02
Change in Other Net Operating Assets	-68.13	-467.38	1,158	592.21	98.31
Operating Cash Flow	392.02	415.47	576.65	308.8	239.85
Operating Cash Flow Growth	-5.64%	-27.95%	86.74%	28.75%	1404.20%
Capital Expenditures	-263.58	-342.75	-799.03	-66.9	-62.65
Sale of Property, Plant & Equipment	-	2.33	837.71	-	0.62
Sale (Purchase) of Intangibles	-	-	-	-0.05	-
Investment in Securities	-	2.38	15.9	86.85	-
Other Investing Activities	-	-	-	-	0.2
Investing Cash Flow	-263.58	-338.03	54.58	19.9	-61.83
Long-Term Debt Issued	1,689	510.37	752.29	277.29	619.81
Long-Term Debt Repaid	-1,345	-234.83	-907.59	-188.44	-632.44
Net Debt Issued (Repaid)	343.81	275.55	-155.29	88.85	-12.63
Issuance of Common Stock	-	-	-	-	97.61
Repurchase of Common Stock	-20.7	-	-	-	-
Other Financing Activities	-72.62	-62.01	-45.9	-26.22	-9.97
Financing Cash Flow	250.48	213.54	-201.2	62.63	75.02
Foreign Exchange Rate Adjustments	16.43	0.34	6.82	6.54	47.32
Miscellaneous Cash Flow Adjustments	-114.32	-118.68	-914.66	-523.89	-
Net Cash Flow	281.04	172.63	-477.81	-126.02	300.35
Free Cash Flow	128.44	72.72	-222.38	241.9	177.19
Free Cash Flow Growth	76.63%	-	-	36.52%	1016.25%
Free Cash Flow Margin	21.96%	10.10%	-59.37%	47.02%	99.21%
Free Cash Flow Per Share	0.87	0.48	-1.48	1.61	1.99
Cash Interest Paid	72.62	62.01	45.9	26.22	9.97
Cash Income Tax Paid	16.07	16.05	28.4	16.52	4.04
Levered Free Cash Flow	-143.05	-90.65	-699.8	189.51	42.55
Unlevered Free Cash Flow	-91.91	-49.18	-669.1	206.37	46.6
Change in Working Capital	-98.03	-438.93	1,477	363.7	106.15

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