IST:MACKO Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	255.42	219.95	113.41	85.54
Depreciation & Amortization	40.03	30.6	21.91	5.2
Provision & Write-off of Bad Debts	0.57	0.53	0.38	-0.56
Other Operating Activities	40.79	89.31	79.94	4.46
Change in Accounts Receivable	-15.5	-36.32	-12	-14.49
Change in Accounts Payable	1.57	-4.83	-1.24	1.34
Change in Unearned Revenue	0.31	-0.26	0.39	-0.01
Change in Other Net Operating Assets	-64.78	-60.34	-5.3	62.77
Operating Cash Flow	258.42	238.64	197.48	144.24
Operating Cash Flow Growth	8.29%	20.84%	36.91%	-
Capital Expenditures	-4.43	-9.71	-3.75	-0.27
Cash Acquisitions	-	-	-	-48.99
Sale (Purchase) of Intangibles	-35.57	-26.2	-6.35	-4.01
Investing Cash Flow	-40.01	-35.91	-10.1	-53.27
Long-Term Debt Issued	3.73	12.95	-	-
Long-Term Debt Repaid	-10.71	-17.49	-5.37	-0.42
Net Debt Issued (Repaid)	-6.98	-4.54	-5.37	-0.42
Issuance of Common Stock	-	-	-	0.75
Common Dividends Paid	-239.81	-142.74	-68.65	-101.29
Other Financing Activities	1.93	9.83	0.36	0.34
Financing Cash Flow	-244.86	-137.45	-73.66	-100.62
Foreign Exchange Rate Adjustments	7.15	-13.63	-80.19	9.1
Miscellaneous Cash Flow Adjustments	-44.55	-92.4	-	-
Net Cash Flow	-63.85	-40.76	33.53	-0.54
Free Cash Flow	253.98	228.92	193.74	143.97
Free Cash Flow Growth	10.95%	18.16%	34.56%	-
Free Cash Flow Margin	36.42%	42.14%	56.69%	126.46%
Free Cash Flow Per Share	2.54	2.29	2.12	8.08
Levered Free Cash Flow	77.21	126.94	73.28	-
Unlevered Free Cash Flow	78.26	128.04	74.21	-
Change in Net Working Capital	147.09	21.85	45.99	-

Updated Mar 7, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.