IST:KOPOL 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	155.12	395.12	342.1	445.14	149.58	9.75
Depreciation & Amortization	141.3	119.52	80.39	51.29	25.12	19.3
Provision & Write-off of Bad Debts	-0.2	3.6	2.86	-0.74	-0.03	-0.05
Other Operating Activities	172.83	169.42	282.81	-51.64	36.43	29.55
Change in Accounts Receivable	-1,522	-584.37	-568.23	-312.91	-283.32	96.16
Change in Inventory	229.5	-101.09	-85.96	-245.11	-85.52	-41.15
Change in Accounts Payable	-304.67	-949.33	1,603	-70.83	77.03	-59.36
Change in Unearned Revenue	-10.95	22.02	-22.8	11.22	38.35	14.69
Change in Other Net Operating Assets	-12.92	1,185	-1,340	-516.32	98.56	86.07
Operating Cash Flow	-1,152	259.58	357.12	-744.56	56.2	154.96
Operating Cash Flow Growth	-	-27.31%	-	-	-63.73%	-
Capital Expenditures	-13.77	-165.1	-144.75	-137.17	-11.84	-9.49
Sale of Property, Plant & Equipment	-	-	-	0.05	0.03	-
Sale (Purchase) of Intangibles	-	-0.13	-0.06	-0.6	-0.04	-0.11
Investing Cash Flow	-13.77	-165.23	-144.81	-137.72	-11.85	-9.6
Long-Term Debt Issued	-	1,012	859.82	972.03	445.61	229.49
Long-Term Debt Repaid	-	-604.02	-1,209	-102.71	-281.86	-316.69
Net Debt Issued (Repaid)	1,378	408.31	-349.48	869.33	163.75	-87.2
Issuance of Common Stock	-	-	554.05	183	-	-
Other Financing Activities	-181.25	-141.47	-103.37	-63.31	-11.22	-12.01
Financing Cash Flow	1,197	266.83	101.19	989.02	152.52	-99.22
Foreign Exchange Rate Adjustments	0.82	-118.39	-351.63	-62.39	-158.04	-65.85
Net Cash Flow	32.15	242.8	-38.12	44.35	38.84	-19.71
Free Cash Flow	-1,165	94.48	212.37	-881.73	44.36	145.46
Free Cash Flow Growth	-	-55.51%	-	-	-69.50%	-
Free Cash Flow Margin	-22.89%	1.94%	5.90%	-30.33%	3.33%	23.61%
Free Cash Flow Per Share	-0.90	0.07	0.16	-1.86	0.74	2.42
Cash Interest Paid	192.87	146.8	111.87	64.18	11.39	12.13
Cash Income Tax Paid	12.12	9.7	8.95	57.78	3.79	0.02
Levered Free Cash Flow	-1,106	-75.61	-165.02	-534.35	-99.61	-
Unlevered Free Cash Flow	-985.62	16.14	-95.1	-494.24	-92.49	-
Change in Working Capital	-1,621	-428.08	-351.05	-1,189	-154.89	96.41

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