IST:KZGYO 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	4.03	310.16	156.87	170.51	-0.37
Depreciation & Amortization	2.55	2.76	1.95	0.35	-
Asset Writedown	-623.98	-388.74	662.72	424.41	-
Change in Accounts Receivable	7.96	-11.23	7.44	-18.39	-0.01
Change in Accounts Payable	22.43	11.46	-117.37	120.12	0.25
Change in Other Net Operating Assets	-1.88	46.73	14.96	-24.91	0.21
Other Operating Activities	805.57	291.74	-532.01	282	-0.08
Operating Cash Flow	231.37	269.41	188.59	945.79	0
Operating Cash Flow Growth	-14.12%	42.86%	-80.06%	54200161.66%	-
Acquisition of Real Estate Assets	-42.02	-	-193.8	-2,663	-
Sale of Real Estate Assets	-	-	0.11	-	-
Net Sale / Acq. of Real Estate Assets	-42.02	-	-193.7	-2,663	-
Cash Acquisition	-	-	-	-0.04	0.01
Other Investing Activities	40.81	183.95	64.77	0.01	-
Investing Cash Flow	-1.22	183.95	-128.93	-2,663	0.01
Short-Term Debt Issued	390.45	-	-	-	-
Long-Term Debt Issued	-	-	801.47	1,648	-
Total Debt Issued	390.45	-	801.47	1,648	-
Long-Term Debt Repaid	-594.44	-	-802.1	-	-
Net Debt Issued (Repaid)	-203.99	-	-0.64	1,648	-
Issuance of Common Stock	-	-	749.33	294.73	0.09
Other Financing Activities	-282.7	-268.14	-278.48	-140.94	-
Miscellaneous Cash Flow Adjustments	-168.3	-356.67	-104.75	-	-
Net Cash Flow	-424.84	-171.45	425.11	84.28	0.1
Cash Interest Paid	282.7	268.14	278.48	140.94	-
Cash Income Tax Paid	-	0.2	6.17	0.13	-
Levered Free Cash Flow	-94.38	-85.33	-298.27	-10.05	-
Unlevered Free Cash Flow	82.31	140.35	-92.58	78.78	-
Change in Working Capital	43.19	53.49	-100.93	68.52	0.45

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