IST:KZBGY 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
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	344.62	7,274	-2,736	3,210	139.55
Depreciation & Amortization	11.96	13.13	7.69	11.39	1.56
Asset Writedown	3.92	-5,970	2,788	-2,745	-12.79
Change in Accounts Receivable	-1,261	-603.7	-830.36	-	-
Change in Accounts Payable	-52.48	178.04	275.9	-45.69	-43.37
Change in Other Net Operating Assets	-693.33	-472.91	342.05	-729.41	-81.18
Other Operating Activities	2,618	2,624	261.36	547.85	12.58
Operating Cash Flow	-775.1	-159.66	989.35	543.72	468.12
Operating Cash Flow Growth	-	-	81.96%	16.15%	-
Acquisition of Real Estate Assets	-1,044	-880.78	-1,211	-537.01	-16.56
Net Sale / Acq. of Real Estate Assets	-1,044	-880.78	-1,211	-537.01	-16.56
Investing Cash Flow	-1,044	-880.78	-1,211	-537.11	-16.62
Long-Term Debt Issued	-	1,158	-	658.38	-
Long-Term Debt Repaid	-	-20.84	-1.56	-504.96	-
Total Debt Repaid	-176.08	-20.84	-1.56	-504.96	-0.93
Net Debt Issued (Repaid)	2,691	1,137	-1.56	153.41	-0.93
Other Financing Activities	-834.1	-198.13	-1.67	-65.49	-0.58
Foreign Exchange Rate Adjustments	-12.61	-47.44	-245.83	-577.47	-11.66
Net Cash Flow	25.26	-149.08	-470.67	-482.93	438.34
Cash Interest Paid	-	-	-	-	0.58
Levered Free Cash Flow	-3,149	-516.3	-435.07	-981.29	-
Unlevered Free Cash Flow	-2,624	-403.82	-432.95	-966.64	-
Change in Working Capital	-3,754	-4,100	668.25	-479.83	327.22

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.