IST:GUBRF 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	5,276	-390.45	-1,668	228.14	523.13
Depreciation & Amortization	1,554	1,580	1,077	899.66	201.6
Other Amortization	72.9	155.29	61.81	3.22	-
Loss (Gain) From Sale of Assets	-8.4	-9.39	-1.52	-2.54	-6.51
Asset Writedown & Restructuring Costs	-2.38	-185.22	-114.91	-226.09	-51.97
Loss (Gain) on Equity Investments	2.24	-53.57	-277.3	-244.56	-10.85
Provision & Write-off of Bad Debts	3.19	3.31	-7.16	-3.45	5.55
Other Operating Activities	3,875	6,027	6,689	458.35	402.07
Change in Accounts Receivable	-337.42	4,600	206.64	2,588	-1,095
Change in Inventory	-2,266	1,468	10,626	3,208	-3,793
Change in Accounts Payable	907.7	-3,942	-12,578	-4,167	3,272
Change in Unearned Revenue	314.34	-399.03	-24.54	-1,915	722.21
Change in Other Net Operating Assets	-396.86	879.21	-2,143	-1,573	-684.28
Operating Cash Flow	8,375	9,301	1,845	-746.24	-514.24
Operating Cash Flow Growth	-9.96%	404.09%	-	-	-
Capital Expenditures	-1,772	-2,381	-2,653	-3,001	-298.5
Sale of Property, Plant & Equipment	14.21	5.65	4.42	88.39	38.13
Sale (Purchase) of Real Estate	-	161.46	-	-	-
Other Investing Activities	744.24	424.75	-	-309.3	-181.17
Investing Cash Flow	-1,014	-1,789	-2,648	-3,222	-441.54
Long-Term Debt Issued	17,772	12,287	20,944	10,419	3,079
Long-Term Debt Repaid	-20,298	-16,068	-21,428	-8,331	-2,255
Net Debt Issued (Repaid)	-2,526	-3,782	-484.2	2,088	823.96
Repurchase of Common Stock	-654.52	-	-	-	-
Other Financing Activities	931.46	-708.78	-406.2	2.43	-
Financing Cash Flow	-2,249	-4,490	-890.4	2,091	823.96
Foreign Exchange Rate Adjustments	469.9	260.89	3,883	3,641	645.81
Miscellaneous Cash Flow Adjustments	-381.25	-1,993	-1,479	-1,149	-
Net Cash Flow	5,201	1,290	711.04	613.62	513.98
Free Cash Flow	6,603	6,920	-807.44	-3,747	-812.74
Free Cash Flow Growth	-4.59%	-	-	-	-
Free Cash Flow Margin	12.58%	17.29%	-1.59%	-7.76%	-7.55%
Free Cash Flow Per Share	19.77	20.72	-2.42	-11.22	-2.43
Cash Interest Paid	1,459	1,711	1,345	960.75	125.65
Cash Income Tax Paid	681.95	397.99	455.13	159.88	-42.96
Levered Free Cash Flow	178.94	1,868	-1,246	-4,844	-210.88
Unlevered Free Cash Flow	1,091	2,937	-405.21	-4,259	-108.7
Change in Working Capital	-1,778	2,606	-3,913	-1,859	-1,577

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