IST:IHLGM Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	3.51	-470.03	-1,677	-1,089	107.6	3.71
Depreciation & Amortization	23.15	18.95	13.89	12.74	1.89	1.73
Loss (Gain) From Sale of Assets	-1.87	-0.1	-0.79	-	0.65	-
Asset Writedown & Restructuring Costs	-45.13	-45.13	8.73	-23.39	-25.15	-2.69
Loss (Gain) From Sale of Investments	0.02	0.02	0.02	54.26	13.72	-
Loss (Gain) on Equity Investments	-	-	-	-	-	0
Provision & Write-off of Bad Debts	-15.03	-55.94	31.92	58.23	32.56	3.51
Other Operating Activities	28.82	3.15	-36.15	-94.83	-23.25	-7.1
Change in Accounts Receivable	178.88	38.29	411.61	742.28	-11.89	34.29
Change in Inventory	-1,400	67.9	-655.31	1,105	185.95	-5.05
Change in Accounts Payable	819.2	41.42	803.56	-71.37	-85.52	-41.47
Change in Unearned Revenue	-2.66	-16.79	-8.55	-1,004	-307.54	22.79
Change in Other Net Operating Assets	399.5	344.5	820.74	141.63	49.6	-104.72
Operating Cash Flow	-11.49	-73.76	-286.93	-169.13	-61.38	-94.99
Capital Expenditures	-8.12	-2.35	-5.97	-2.22	-0.82	-0.49
Sale of Property, Plant & Equipment	1.51	1.57	-	1.09	0.13	-
Sale (Purchase) of Intangibles	0	-0.01	-	-0.05	-	-0.01
Sale (Purchase) of Real Estate	-0.12	0.46	0.88	-	-0.92	-
Investing Cash Flow	-6.73	-0.33	-5.09	-1.18	-1.61	-0.5
Long-Term Debt Repaid	-	-13.25	-77.88	-97.81	-10.03	-11.92
Net Debt Issued (Repaid)	-15.16	-13.25	-77.88	-97.81	-10.03	-11.92
Issuance of Common Stock	-	-	-	-	-	335.51
Other Financing Activities	19.24	35.18	47.62	38.16	21.22	3.24
Financing Cash Flow	4.08	21.93	-30.26	-59.65	11.19	326.83
Net Cash Flow	-14.14	-52.16	-322.28	-229.96	-51.8	231.34
Free Cash Flow	-19.62	-76.11	-292.9	-171.35	-62.19	-95.48
Free Cash Flow Margin	-4.25%	-15.81%	-44.57%	-14.94%	-6.53%	-28.25%
Free Cash Flow Per Share	-0.02	-0.08	-0.29	-0.17	-0.06	-0.14
Cash Interest Paid	5.04	8.41	19.67	33.72	2.75	3.96
Cash Income Tax Paid	-	27.85	33.49	17.23	5.01	1.76
Levered Free Cash Flow	-1,052	397.5	-747.26	-1,010	258.63	-310
Unlevered Free Cash Flow	-952.93	459.59	-691.49	-999.48	263.1	-280.63
Change in Working Capital	-4.96	475.33	1,372	913.13	-169.39	-94.16

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