IST:KUVVA 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	194.69	22.23	139.79	3.44	0.61	2.04
Depreciation & Amortization	553.18	421.1	18.95	5.52	0.05	0.04
Loss (Gain) From Sale of Investments	-	-	-	-	2.9	-
Loss (Gain) on Equity Investments	-	-	-	-	-1.48	-
Provision & Write-off of Bad Debts	-0.75	-0.27	-1.27	-1.35	3.42	2.98
Other Operating Activities	102.64	-29.98	121.31	31.37	-1.47	-2.37
Change in Accounts Receivable	-901.89	-468.78	-40.9	-14.09	-1.28	0.04
Change in Inventory	-288.12	-236.5	7.06	-7.8	-	-
Change in Accounts Payable	119.35	244.61	8.16	9.59	-0.03	-0.3
Change in Unearned Revenue	9.31	79.16	-0.01	1.03	0.08	-
Change in Other Net Operating Assets	1,424	2,080	-447.4	-124.09	5.97	-3.03
Operating Cash Flow	1,213	2,112	-194.3	-96.37	8.77	-0.59
Operating Cash Flow Growth	121.98%	-	-	-	-	-
Capital Expenditures	-686.58	-1,376	-176.26	-27.15	-	-
Sale of Property, Plant & Equipment	42.42	-	0.31	-	-	-
Cash Acquisitions	-799.88	-799.88	-	-	-	-
Sale (Purchase) of Intangibles	-0.61	-	-	-	-0.01	-0.01
Investment in Securities	-	-	-	31.13	-	-
Investing Cash Flow	-1,445	-2,176	-175.95	3.98	-0.01	-0.01
Long-Term Debt Issued	-	103.35	-	79.68	-	0.62
Total Debt Issued	331.94	103.35	-	79.68	-	0.62
Long-Term Debt Repaid	-	-16.52	-81.7	-	-3.98	-
Total Debt Repaid	-43.65	-16.52	-81.7	-	-3.98	-
Net Debt Issued (Repaid)	288.29	86.82	-81.7	79.68	-3.98	0.62
Issuance of Common Stock	-	-	440.69	24.02	-	-
Other Financing Activities	-47.21	-	0.21	-10.69	-	-
Financing Cash Flow	241.07	86.82	359.2	93.01	-3.98	0.62
Miscellaneous Cash Flow Adjustments	3.15	-0	-	-5.09	-	-
Net Cash Flow	12.08	22.32	-11.05	-4.47	4.78	0.01
Free Cash Flow	525.93	735.38	-370.57	-123.52	8.77	-0.59
Free Cash Flow Margin	98.76%	379.75%	-350.06%	-238.10%	243.53%	-339.47%
Free Cash Flow Per Share	16.94	23.69	-11.94	-4.92	0.65	-0.05
Cash Interest Paid	48.29	-	-	12.23	-	-
Cash Income Tax Paid	0.18	-	-	-	-	-
Levered Free Cash Flow	-178.33	-256.24	-174.23	-46.8	4.69	0.56
Unlevered Free Cash Flow	-141.06	-232.65	-155.94	-39.16	4.69	0.56
Change in Working Capital	362.75	1,699	-473.09	-135.35	4.74	-3.28

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