IST:KARSN 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	179.09	72.62	556.16	-205.76	98.89
Depreciation & Amortization	272.86	251.02	224.63	124.82	34.83
Other Amortization	495.63	463.28	317.64	288.14	43.33
Loss (Gain) From Sale of Assets	38.78	-72.26	-	-1.23	-1.68
Asset Writedown & Restructuring Costs	-	-	-104.87	97.62	-
Loss (Gain) From Sale of Investments	-	-	-	-	13.67
Provision & Write-off of Bad Debts	-30.01	-117.19	31.21	59.73	44.41
Other Operating Activities	3,489	1,590	1,091	-703.62	575.94
Change in Accounts Receivable	-575.98	-3,483	-687.51	250.29	-327.19
Change in Inventory	-1,070	496.26	361.54	-529.14	-138.34
Change in Accounts Payable	332.56	683.4	961.72	285.26	171.58
Change in Unearned Revenue	-416.66	-	-	-	-
Change in Other Net Operating Assets	-1,028	831.33	309.46	-596.68	-401.42
Operating Cash Flow	1,687	715.24	3,061	-930.57	114.03
Operating Cash Flow Growth	135.86%	-76.63%	-	-	-73.75%
Capital Expenditures	-245	-307.4	-54.62	-431.67	-143.9
Sale of Property, Plant & Equipment	10.79	103.26	90.24	2.06	1.79
Divestitures	-	97.2	-	-	-
Sale (Purchase) of Intangibles	-777.98	-954.62	-235.51	-20.56	-12.99
Other Investing Activities	-13.46	264.35	49.04	164.43	200.49
Investing Cash Flow	-1,026	-797.21	-150.86	-285.74	45.39
Long-Term Debt Issued	10,161	14,468	9,710	8,801	1,474
Long-Term Debt Repaid	-8,339	-12,677	-9,393	-7,276	-1,409
Net Debt Issued (Repaid)	1,822	1,791	316.74	1,525	65.43
Other Financing Activities	-2,235	-1,554	-1,544	-545.13	-193.58
Financing Cash Flow	-413.89	237.59	-1,227	979.99	-128.14
Foreign Exchange Rate Adjustments	100.89	42.16	87.24	19.98	1.94
Miscellaneous Cash Flow Adjustments	-363.96	-596.62	-394.13	11.1	-
Net Cash Flow	-15.67	-398.84	1,376	-205.25	33.22
Free Cash Flow	1,442	407.85	3,007	-1,362	-29.86
Free Cash Flow Growth	253.55%	-86.44%	-	-	-
Free Cash Flow Margin	8.69%	2.87%	28.05%	-25.41%	-1.42%
Free Cash Flow Per Share	1.60	0.45	3.34	-1.51	-0.03
Cash Interest Paid	2,235	1,554	1,308	571.25	194.72
Cash Income Tax Paid	14.1	11.85	1.02	4.52	7.85
Levered Free Cash Flow	-1,455	-2,592	895.79	-2,660	-41.75
Unlevered Free Cash Flow	-574.99	-1,875	1,505	-2,360	59.11
Change in Working Capital	-2,758	-1,472	945.21	-590.28	-695.36

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