Ihlas Gazetecilik A.S. 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	231.31	149.67	-1,058	-152.19	117.22
Depreciation & Amortization	78.94	88.69	59.87	33.47	6.54
Other Amortization	-	-	-	-	0.18
Loss (Gain) From Sale of Assets	11.46	1.73	-0.56	-1.08	-0.46
Asset Writedown & Restructuring Costs	160.93	-519.76	538.05	-733.22	-113.12
Loss (Gain) From Sale of Investments	-	-	-	-0.53	-
Loss (Gain) on Equity Investments	14.08	14.52	44.73	20.17	-1.72
Provision & Write-off of Bad Debts	22.49	34.54	20.14	20.72	14.76
Other Operating Activities	-102.72	-30.02	-80.63	-8.01	-19.63
Change in Accounts Receivable	8.44	-65.06	-117.43	-7.04	-65.52
Change in Inventory	29.2	63.6	142.98	-84.1	-28.95
Change in Accounts Payable	-18.93	-7	11.41	-13.28	5.98
Change in Unearned Revenue	-319.82	311.19	10.04	0.96	0.17
Change in Other Net Operating Assets	-108.87	-44.26	338.78	523.65	-343.79
Operating Cash Flow	6.53	-2.15	-90.77	-400.49	-428.33
Capital Expenditures	-53.14	-81.22	-70.24	-57.61	-28.3
Sale of Property, Plant & Equipment	13.28	3.18	13.73	1.13	0.45
Sale (Purchase) of Intangibles	-5.49	-4.13	-3.06	-4.81	-0.81
Sale (Purchase) of Real Estate	8.32	6.49	-1.2	-	-0.67
Other Investing Activities	22.55	93.01	36.49	8.67	-28
Investing Cash Flow	-14.47	17.34	-24.28	-52.62	-57.32
Long-Term Debt Issued	-	-	-	22.1	-
Long-Term Debt Repaid	-41.7	-52.09	-45.31	-15.25	-10.06
Net Debt Issued (Repaid)	-41.7	-52.09	-45.31	6.85	-10.06
Issuance of Common Stock	2.7	-	-	-	620
Repurchase of Common Stock	-	-2.7	-	-	-
Other Financing Activities	58.84	38.11	51.91	71.16	44.34
Financing Cash Flow	19.84	-16.69	6.6	78.01	654.28
Net Cash Flow	11.91	-1.5	-108.45	-375.1	168.63
Free Cash Flow	-46.61	-83.37	-161	-458.09	-456.63
Free Cash Flow Margin	-1.88%	-3.57%	-9.28%	-51.57%	-231.00%
Free Cash Flow Per Share	-0.06	-0.10	-0.20	-0.57	-0.57
Cash Interest Paid	125.32	70.75	21.2	7.98	2.47
Cash Income Tax Paid	0.73	0.27	-6.43	-0.16	-
Levered Free Cash Flow	-672.52	-30.66	-90.04	-535.55	-306.59
Unlevered Free Cash Flow	-570.89	28.87	-65.82	-525	-299.13
Change in Working Capital	-409.97	258.47	385.77	420.18	-432.1

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