IST:MAGEN 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	-1,172	-281.88	448.79	-1,243	1,010	77.04
Depreciation & Amortization	354.19	299.32	295.22	269.48	86.14	11.64
Loss (Gain) on Sale of Assets	-	-	-1.8	-6.65	-	-
Loss (Gain) on Sale of Investments	896.01	-243.55	-530.85	-	-360.1	-
Asset Writedown	294.3	1,292	480.41	2,107	-550.38	-353.52
Stock-Based Compensation	-	-	-	-	-317.75	-
Change in Accounts Receivable	100.34	276.36	509.44	-84.33	-291.89	-2.49
Change in Inventory	16.32	14.63	-53.18	-0.57	-1.02	-1.89
Change in Accounts Payable	-82.74	-148.03	-363.37	73.81	110.18	26.55
Change in Unearned Revenue	-8.34	-5.7	28.21	-20.31	2.37	8.95
Change in Other Net Operating Assets	243.58	45.52	-49.14	-170.46	-21.6	-27.75
Other Operating Activities	-136.91	-1,046	-1,202	-820.24	-494.41	43.54
Operating Cash Flow	505.11	202.79	-438.62	104.59	-828.26	-217.93
Capital Expenditures	-17.37	-62.99	-55.46	-158.28	-	-6.63
Sale of Property, Plant & Equipment	39.09	10.65	30.31	29.09	-	0.04
Cash Acquisitions	-320.42	-	-	-	0.05	-
Investment in Securities	-	-	-1,009	-424.84	-	-
Other Investing Activities	-3.89	47.83	210.58	19.33	-112.3	-
Investing Cash Flow	-302.59	-4.5	-823.39	-534.7	-112.25	-6.59
Long-Term Debt Issued	-	1,185	1,519	186.55	920.26	231.14
Long-Term Debt Repaid	-	-881.67	-1,158	-614.54	-	-
Net Debt Issued (Repaid)	19.02	303.05	361.81	-427.99	920.26	231.14
Issuance of Common Stock	-	-	-	-	824.94	21.9
Repurchase of Common Stock	-30.39	-30.39	-41.5	-	-	-
Common Dividends Paid	-	-	-20.65	-143.24	-	-
Other Financing Activities	21.17	-613.56	862.34	-965.96	-0.95	51.91
Financing Cash Flow	9.79	-340.9	1,162	-1,537	1,744	304.94
Foreign Exchange Rate Adjustments	-114.42	-114.42	-209.58	-	-	-
Net Cash Flow	73.29	-257.04	-309.59	-1,967	803.74	80.43
Free Cash Flow	487.74	139.8	-494.08	-53.68	-828.26	-224.56
Free Cash Flow Margin	36.45%	12.32%	-45.11%	-4.33%	-162.78%	-251.81%
Free Cash Flow Per Share	0.16	0.05	-0.17	-0.02	-0.28	-
Cash Interest Paid	521.35	368.68	320.24	146.88	92.53	15.15
Cash Income Tax Paid	2.18	-5.11	3.7	-1.6	1.05	0
Levered Free Cash Flow	276.96	-280.79	1,168	-1,163	-330.41	-
Unlevered Free Cash Flow	607.77	-45.4	1,381	-1,071	-272.58	-
Change in Working Capital	269.17	182.78	71.97	-201.86	-201.96	3.37

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.