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

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