HOROZ Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021
Period Ending	Sep '24 Sep 30, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	730.78	136.4	305.21	279.17
Depreciation & Amortization	783.84	784.06	573.36	417.6
Loss (Gain) From Sale of Assets	-8.66	-6.68	2.24	-4.23
Asset Writedown & Restructuring Costs	-	-	18.63	-46.78
Loss (Gain) on Equity Investments	-33.85	-33.85	-51.84	-52.98
Provision & Write-off of Bad Debts	6.94	8.54	9.5	14.31
Other Operating Activities	-266.17	-152.56	-155.06	-133.6
Change in Accounts Receivable	-416.25	-582.87	-412.52	-138.25
Change in Accounts Payable	13.37	388.47	335.27	188.37
Change in Unearned Revenue	-21.71	8.02	44.51	5.86
Change in Other Net Operating Assets	-177.61	-11.97	-84.47	14.22
Operating Cash Flow	569.62	537.55	584.83	543.69
Operating Cash Flow Growth	-2.60%	-8.08%	7.57%	-
Capital Expenditures	-270.09	-142.84	-158.17	-199.3
Sale of Property, Plant & Equipment	60.55	15.51	12.5	13.01
Investing Cash Flow	339.76	-127.34	-145.67	-186.29
Long-Term Debt Issued	-	205.03	121.19	142.98
Long-Term Debt Repaid	-	-330.26	-292.59	-286.08
Net Debt Issued (Repaid)	-704.7	-125.23	-171.4	-143.1
Other Financing Activities	-270.7	-272.81	-256.17	-208.86
Financing Cash Flow	35.46	-398.04	-427.57	-351.96
Net Cash Flow	957.95	12.18	11.59	5.45
Free Cash Flow	299.54	394.71	426.66	344.39
Free Cash Flow Growth	-29.79%	-7.49%	23.89%	-
Free Cash Flow Margin	5.08%	7.24%	10.43%	10.03%
Free Cash Flow Per Share	3.48	5.45	4.27	3.44
Cash Interest Paid	270.7	272.81	256.17	208.86
Cash Income Tax Paid	39.79	53.9	20.38	2.73
Levered Free Cash Flow	-	230.13	121.72	-
Unlevered Free Cash Flow	-	405.01	282.87	-
Change in Net Working Capital	-	206.19	139.34	-

Source: S&P Capital IQ. Standard template. Financial Sources.