IST:ISGYO Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-420.04	-958.32	1,168	4,521	8,601	1,330
Depreciation & Amortization	28.54	26.51	25.2	10.76	5.79	1.88
Other Amortization	2.31	2.31	2.28	2.66	2.45	0.6
Gain (Loss) on Sale of Assets	62.67	435.04	-101.85	-	-	-
Gain (Loss) on Sale of Investments	-261.59	-183.39	227.55	-78.33	-168.44	-39.99
Asset Writedown	-1,331	-1,331	-4,227	-2,551	-7,229	-1,140
Income (Loss) on Equity Investments	-30.37	-24.16	-10.05	-6.63	-1.28	-1.98
Change in Accounts Receivable	-274.32	54.82	321.49	7.58	66.53	24.94
Change in Accounts Payable	121.46	-62.58	-268.62	304.92	1.82	2.51
Change in Other Net Operating Assets	-1,924	-396.95	166.94	220	-257.6	-61.06
Other Operating Activities	2,990	2,053	4,021	-966.25	-1,596	55
Operating Cash Flow	-854.98	-904.16	1,211	-1,427	-1,852	328.83
Operating Cash Flow Growth	-	-	-	-	-	20.48%
Acquisition of Real Estate Assets	-1,073	-3,571	-1,419	-312.65	-779.71	-184.01
Sale of Real Estate Assets	615.78	8,547	3,792	-	-	0.05
Net Sale / Acq. of Real Estate Assets	-456.88	4,976	2,374	-312.65	-779.71	-183.96
Investment in Marketable & Equity Securities	-65.61	-65.61	-	306.75	-220.71	-2.22
Other Investing Activities	602.01	602.01	-12.06	-666.68	0.82	0.5
Investing Cash Flow	76.68	5,509	2,357	-677.67	-1,004	-186.59
Long-Term Debt Issued	-	2,496	5,409	21,629	6,036	2,291
Long-Term Debt Repaid	-	-5,854	-6,295	-19,383	-1,947	-2,272
Net Debt Issued (Repaid)	-2,846	-3,358	-886.81	2,246	4,089	18.7
Common Dividends Paid	-80	-	-	-	-	-
Other Financing Activities	-830.63	-1,482	-3,444	-1,853	-500.81	-101.15
Foreign Exchange Rate Adjustments	-9.15	1.46	9.89	230.66	79.52	19.3
Miscellaneous Cash Flow Adjustments	-72.99	26.01	65.72	-601.93	853.98	-
Net Cash Flow	-4,617	-207.15	-686.91	-2,083	1,666	79.08
Cash Interest Paid	1,482	1,482	3,444	1,813	571.42	143
Cash Income Tax Paid	192.96	192.96	-	-	-	-
Levered Free Cash Flow	-3,091	-50.8	-1,176	-2,450	-857.84	200.3
Unlevered Free Cash Flow	-2,622	731.13	1,027	-1,143	-461.92	296.84
Change in Working Capital	-1,896	-924.29	106.22	-2,359	-1,467	121.14

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