IST:HRKET 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	-1,586	-176.04	1,498	191.06	318.71
Depreciation & Amortization	1,079	969.76	413.18	172.51	136.37
Loss (Gain) From Sale of Assets	-110.55	-197.77	-96.06	205.8	32.56
Asset Writedown & Restructuring Costs	1,853	721.73	-	-	-
Provision & Write-off of Bad Debts	10.15	-21.2	17.66	-	-
Other Operating Activities	-192.61	-254.29	-829	499.95	754.7
Change in Accounts Receivable	-636.75	-340	-232.19	32.74	15.15
Change in Inventory	12.18	6.44	25.53	39.03	-84.56
Change in Accounts Payable	214.6	129.64	12.2	-206.81	166.09
Change in Other Net Operating Assets	-326.96	-187.88	-29.38	15.02	-65.13
Operating Cash Flow	316.12	650.41	779.62	949.29	1,274
Operating Cash Flow Growth	-51.40%	-16.57%	-17.87%	-25.48%	-
Capital Expenditures	-3,414	-3,378	-955.76	-642.1	-1,203
Sale of Property, Plant & Equipment	-	724.28	192.54	373.82	67.58
Sale (Purchase) of Intangibles	-	-	-5.88	-1.18	-12
Investment in Securities	1,109	-1,377	119.8	-82.98	-
Other Investing Activities	10.27	286.84	-236.62	12.17	6.37
Investing Cash Flow	-2,294	-3,743	-885.91	-340.26	-1,141
Long-Term Debt Issued	2,776	1,007	155.12	-	15.87
Long-Term Debt Repaid	-	-45.58	-	-788.56	-20.05
Net Debt Issued (Repaid)	2,776	961.75	155.12	-788.56	-4.18
Issuance of Common Stock	-	2,000	0.14	-	-
Repurchase of Common Stock	-125.95	-	-	-	-
Other Financing Activities	-21.69	101.14	-180.2	-23.06	12.18
Financing Cash Flow	2,628	3,063	-24.94	-811.63	8
Foreign Exchange Rate Adjustments	43.38	73.26	113.09	-10.48	-3.83
Miscellaneous Cash Flow Adjustments	-357.29	-20.59	-30.76	-0	-
Net Cash Flow	336.12	22.74	-48.91	-213.07	137
Free Cash Flow	-3,098	-2,727	-176.14	307.19	70.88
Free Cash Flow Growth	-	-	-	333.40%	-
Free Cash Flow Margin	-52.08%	-59.11%	-7.66%	18.39%	4.04%
Free Cash Flow Per Share	-26.89	-27.23	-1.83	-	-
Cash Income Tax Paid	4.25	12.52	9.21	-	-
Levered Free Cash Flow	-2,974	-2,805	-762.28	-435.51	-
Unlevered Free Cash Flow	-2,856	-2,670	-718.21	-417.41	-
Change in Working Capital	-736.93	-391.8	-223.85	-120.02	31.54

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