IST:ISDMR 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	6,112	14,254	4,602	6,726	6,468
Depreciation & Amortization	5,201	4,000	3,001	1,607	927.66
Loss (Gain) From Sale of Assets	250.06	-34.14	39.68	3.23	2.7
Asset Writedown & Restructuring Costs	-540.47	-214.37	564.08	-	-
Loss (Gain) on Equity Investments	-107.02	-204.67	-92.07	-69.15	5.74
Provision & Write-off of Bad Debts	-	-0.1	-10.07	0.11	-0.08
Other Operating Activities	2,717	-139.88	692.07	-4,330	-185.52
Change in Accounts Receivable	1,347	-1,042	1,199	-74.08	-425.82
Change in Inventory	3,932	3,158	-485.51	-243.94	-5,497
Change in Accounts Payable	18,966	-2,094	5,862	-489.93	-226.09
Change in Other Net Operating Assets	-877.82	-1,122	-1,551	-822.65	-33.32
Operating Cash Flow	36,999	16,560	13,821	2,307	1,037
Operating Cash Flow Growth	123.42%	19.82%	499.15%	122.52%	-74.31%
Capital Expenditures	-5,347	-14,944	-9,719	-3,443	-2,261
Sale of Property, Plant & Equipment	-	118.92	5.09	3.48	0.47
Divestitures	-	-	-	-	17.5
Sale (Purchase) of Intangibles	-24.59	-12.32	-3	-29.33	-5.08
Investment in Securities	-	-	-	-52.67	-
Other Investing Activities	-1,820	-2,181	-2,708	-76.59	-201.46
Investing Cash Flow	-7,192	-17,018	-12,426	-3,598	-2,450
Long-Term Debt Issued	11,818	23,829	17,775	10,006	2,759
Long-Term Debt Repaid	-12,631	-20,117	-13,039	-5,715	-813.42
Total Debt Repaid	-12,631	-20,117	-13,039	-5,715	-813.42
Net Debt Issued (Repaid)	-813.32	3,712	4,736	4,291	1,946
Common Dividends Paid	-724.83	-1,450	-	-8,697	-8,059
Other Financing Activities	-279.7	2,883	-4,036	258.93	7,611
Financing Cash Flow	-1,818	5,146	700.69	-4,147	1,498
Foreign Exchange Rate Adjustments	3,916	2,516	2,978	3,144	8,656
Net Cash Flow	31,904	7,204	5,074	-2,294	8,741
Free Cash Flow	31,652	1,616	4,101	-1,136	-1,224
Free Cash Flow Growth	1858.11%	-60.59%	-	-	-
Free Cash Flow Margin	26.17%	1.46%	4.63%	-1.83%	-3.35%
Free Cash Flow Per Share	10.91	0.56	1.41	-0.39	-0.42
Cash Interest Paid	3,006	2,708	1,877	391.64	33.75
Cash Income Tax Paid	205.3	36.33	82.63	5,704	3,104
Levered Free Cash Flow	20,930	-13,396	-12,786	-5,723	5,845
Unlevered Free Cash Flow	22,341	-11,636	-11,523	-5,187	5,905
Change in Working Capital	23,366	-1,100	5,024	-1,631	-6,182

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