IST:KOTON 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 2019
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 '19 Dec 31, 2019
Net Income	-1,747	-396.68	2,605	1,748	808	-171
Depreciation & Amortization	2,969	2,647	2,947	1,874	1,762	454.46
Loss (Gain) From Sale of Assets	-5.5	5.45	9.83	23.33	22.41	-0.25
Provision & Write-off of Bad Debts	15.83	24.82	22.8	10.42	-0.3	7.01
Other Operating Activities	-381.52	195.18	-1,833	-375.32	-764.73	304.51
Change in Accounts Receivable	542.96	-658.56	-963.94	-457.96	-384.05	-1.66
Change in Inventory	1,251	-615.76	-185.42	-1,214	500.3	-110.3
Change in Accounts Payable	1,555	-44.5	89.4	1,495	1,067	74.04
Change in Unearned Revenue	-81.8	36.09	-60.66	88.14	3.71	-12.3
Change in Other Net Operating Assets	-1,799	-993.9	-206.43	-193.13	-110.93	214.58
Operating Cash Flow	2,318	198.91	2,425	2,999	2,904	759.1
Operating Cash Flow Growth	79.71%	-91.80%	-19.13%	3.26%	282.55%	117.52%
Capital Expenditures	-692.96	-686.98	-660	-331.43	-171.6	-71.61
Sale of Property, Plant & Equipment	69.7	27.38	36.03	7.08	125.18	0.51
Sale (Purchase) of Intangibles	-163.69	-149.41	-91.22	-43.65	-72.75	-10.55
Investment in Securities	-1.15	-1.15	-0.61	-3.95	-	-
Investing Cash Flow	-788.09	-810.17	-715.8	-371.96	-119.17	-81.65
Long-Term Debt Issued	-	3,692	2,497	1,088	1,770	664.8
Long-Term Debt Repaid	-	-3,516	-4,194	-2,584	-3,603	-1,268
Net Debt Issued (Repaid)	-140.54	176.11	-1,697	-1,497	-1,833	-603.12
Issuance of Common Stock	-	1,188	-	-	-	250.07
Other Financing Activities	-1,053	-529.07	-258.08	-231.56	-577.37	-336.03
Financing Cash Flow	-1,395	834.56	-1,955	-1,728	-2,410	-689.09
Foreign Exchange Rate Adjustments	-136.48	-159.36	-494.81	-704.92	-109.72	-
Miscellaneous Cash Flow Adjustments	-	-	141.55	-33.46	-64.58	-
Net Cash Flow	-1.02	63.94	-598.73	159.88	200.09	-11.64
Free Cash Flow	1,626	-488.07	1,765	2,667	2,732	687.48
Free Cash Flow Growth	244.83%	-	-33.83%	-2.38%	297.44%	245.04%
Free Cash Flow Margin	6.73%	-1.95%	7.11%	16.65%	19.00%	17.62%
Free Cash Flow Per Share	1.99	-0.60	2.22	3.35	3.44	5.25
Cash Interest Paid	983.49	579.37	320.35	256.93	613.95	336.03
Cash Income Tax Paid	-	78.49	352.27	33.76	-	9.76
Levered Free Cash Flow	-333.63	-220.24	-362.43	1,439	-	364.85
Unlevered Free Cash Flow	1,658	1,733	1,075	2,351	-	635.5
Change in Working Capital	1,468	-2,277	-1,327	-282.02	1,076	164.35

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