IST:KUTPO 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	233.21	304.48	54.29	-19.06	33.99
Depreciation & Amortization	302.97	223.96	153.39	100.57	20.7
Other Amortization	34.53	29.02	10.94	6.96	1.4
Loss (Gain) From Sale of Assets	-	-	-	-1.45	-1.1
Provision & Write-off of Bad Debts	19.18	8.6	60.91	6.51	4.5
Other Operating Activities	324.71	458.2	-337.88	131.2	12.94
Change in Accounts Receivable	-51.7	133.78	443.72	-166.76	-95.29
Change in Inventory	-251.13	-127.74	233.54	-122.53	-78.45
Change in Accounts Payable	-310.24	204.83	-250.94	8.1	80.3
Change in Unearned Revenue	-341.13	243.32	-230.28	37.53	77.56
Change in Other Net Operating Assets	243.77	-350.27	172.01	-17.36	-3
Operating Cash Flow	204.17	1,128	309.68	-36.29	53.55
Operating Cash Flow Growth	-81.90%	264.30%	-	-	164.91%
Capital Expenditures	-115.15	-504.75	-156.33	-139.37	-52.87
Sale of Property, Plant & Equipment	0.3	-	0.02	0.36	1.36
Sale (Purchase) of Intangibles	-43.02	-28.15	-19.82	-	-
Sale (Purchase) of Real Estate	30.27	-	-4.1	-	-
Investing Cash Flow	-127.6	-532.9	-180.23	-139.01	-51.51
Short-Term Debt Issued	-	-	-	-	194.14
Long-Term Debt Issued	330	-	-	905.84	-
Total Debt Issued	330	-	-	905.84	194.14
Short-Term Debt Repaid	-	-	-	-	-194.11
Long-Term Debt Repaid	-411.96	-512.18	-65.65	-696.58	-1.15
Total Debt Repaid	-411.96	-512.18	-65.65	-696.58	-195.27
Net Debt Issued (Repaid)	-81.96	-512.18	-65.65	209.26	-1.13
Other Financing Activities	-5.22	-31.47	-	-	-
Financing Cash Flow	-87.18	-543.65	-65.65	209.26	-1.13
Miscellaneous Cash Flow Adjustments	-32.97	-43.81	-20.01	-18.98	-
Net Cash Flow	-43.59	7.81	43.79	14.98	0.91
Free Cash Flow	89.02	623.42	153.35	-175.65	0.68
Free Cash Flow Growth	-85.72%	306.53%	-	-	-
Free Cash Flow Margin	2.11%	14.46%	4.53%	-6.74%	0.11%
Free Cash Flow Per Share	2.23	15.62	3.84	-4.40	0.02
Cash Interest Paid	35.84	45.47	114.35	-	-
Cash Income Tax Paid	-	-	72.75	-2.58	8.21
Levered Free Cash Flow	-247.02	26.19	175.64	-744.02	-25.97
Unlevered Free Cash Flow	-224.62	54.61	247.11	-692.09	-17.25
Change in Working Capital	-710.43	103.91	368.04	-261.02	-18.88

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