Investco Holding A.S. 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	2019
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	2019
Net Income	-5,349	1,462	66.31	4,007	1,679	146.35	Upgrade
Depreciation & Amortization	7.85	7.83	7.82	1.05	0.06	2.43	Upgrade
Asset Writedown & Restructuring Costs	-1.03	-1.03	3.11	-4,646	-1,626	-235.45	Upgrade
Loss (Gain) From Sale of Investments	4,584	-3,177	-132.97	-	-	-	Upgrade
Loss (Gain) on Equity Investments	-	-	-	-	-	-7.55	Upgrade
Provision & Write-off of Bad Debts	-	-	-	-	-	0.71	Upgrade
Other Operating Activities	584.96	1,621	-294.04	595.32	-55.77	97.2	Upgrade
Change in Accounts Receivable	286.07	-	-	-	0.1	9.64	Upgrade
Change in Inventory	-	-	-	-	-	-3.39	Upgrade
Change in Accounts Payable	-279.68	-59.97	-4.08	113.61	0.24	-7.12	Upgrade
Change in Other Net Operating Assets	-61.68	-107.17	-192.19	-2.14	61	75.53	Upgrade
Operating Cash Flow	-228.43	-254.79	-546.03	68.47	58.22	78.36	Upgrade
Operating Cash Flow Growth	-	-	-	17.61%	-25.70%	108.04%	Upgrade
Capital Expenditures	-0.1	-0.14	-0.03	-14.54	-10.23	-9.68	Upgrade
Sale (Purchase) of Real Estate	-	-	-	-	-5.08	-	Upgrade
Investment in Securities	538.7	-540.35	567.56	-1,070	-35.62	-11.8	Upgrade
Other Investing Activities	-155.06	350.99	317.82	211.32	25.45	0.81	Upgrade
Investing Cash Flow	383.53	-189.5	885.35	-872.95	-25.49	-20.67	Upgrade
Long-Term Debt Repaid	-	-	-	-	-	-36.77	Upgrade
Net Debt Issued (Repaid)	-	-	-	-	-	-36.77	Upgrade
Issuance of Common Stock	113.92	-	-	2,080	-	-	Upgrade
Other Financing Activities	-230.27	-230.27	-95.77	-	-26.38	-1.27	Upgrade
Financing Cash Flow	-116.35	-230.27	-95.77	2,080	-26.38	-38.04	Upgrade
Miscellaneous Cash Flow Adjustments	311.87	-348.51	-463.92	-468.53	-	-	Upgrade
Net Cash Flow	350.62	-1,023	-220.37	807.35	6.36	19.64	Upgrade
Free Cash Flow	-228.53	-254.93	-546.06	53.94	47.99	68.68	Upgrade
Free Cash Flow Growth	-	-	-	12.39%	-30.12%	112.40%	Upgrade
Free Cash Flow Margin	-	-7.99%	-357.10%	1.16%	15.35%	124.94%	Upgrade
Free Cash Flow Per Share	-1.22	-1.36	-2.91	0.30	0.32	0.46	Upgrade
Cash Interest Paid	-	-	-	-	1.62	4.61	Upgrade
Cash Income Tax Paid	63.61	113.72	144.02	99.1	1.24	2.35	Upgrade
Levered Free Cash Flow	-2,827	1,939	32.27	3,009	955.59	73.42	Upgrade
Unlevered Free Cash Flow	-2,807	1,945	32.27	3,009	956.6	76.3	Upgrade
Change in Working Capital	-55.29	-167.13	-196.26	111.47	61.34	74.66	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.