IST: MAKIM Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep '24 Sep 30, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019
Net Income	169.32	134.18	95.9	57.14	22.03	15.9
Depreciation & Amortization	14.64	6.66	4.34	0.77	0.45	0.35
Loss (Gain) From Sale of Assets	0.01	-	-	-	-	-0.05
Provision & Write-off of Bad Debts	0.37	-0.08	0.02	0.11	0.23	0.08
Other Operating Activities	-11.65	31.43	6.69	0.62	0.34	-0.1
Change in Accounts Receivable	41.31	-113.13	-49.56	-17.21	-2.58	-2.22
Change in Inventory	9.57	-22.17	-16.86	-5.93	-5.35	-0.18
Change in Accounts Payable	9.48	7.75	13.95	3.55	4.27	2.14
Change in Unearned Revenue	-17.92	9.17	-3.72	2.09	0.08	0.93
Change in Other Net Operating Assets	35.34	-20.75	7.92	-13.79	-2.64	-0.51
Operating Cash Flow	250.47	33.05	58.67	27.34	16.84	16.33
Operating Cash Flow Growth	359.66%	-43.66%	114.55%	62.40%	3.10%	-
Capital Expenditures	-134.05	-60.41	-67.47	-19.82	-1.39	-1.28
Sale of Property, Plant & Equipment	0.02	0.05	-	-	-	0.06
Investment in Securities	1.08	-3.08	-	0.51	0.22	-0.74
Investing Cash Flow	-132.95	-63.45	-67.47	-19.31	-1.17	-1.96
Long-Term Debt Issued	-	182.63	10.58	1	0.2	-
Long-Term Debt Repaid	-	-96.21	-2.56	-	-	-1.25
Net Debt Issued (Repaid)	-79.25	86.42	8.01	1	0.2	-1.25
Common Dividends Paid	-	-	-	-9.12	-4	-1.83
Other Financing Activities	-34.86	-12.33	-0.4	-0.24	0.09	0.05
Financing Cash Flow	-114.11	74.09	7.61	-8.36	-3.71	-3.04
Miscellaneous Cash Flow Adjustments	-8.87	-18.97	-31.77	-	-	-
Net Cash Flow	-5.46	24.73	-32.97	-0.33	11.96	11.33
Free Cash Flow	116.42	-27.36	-8.8	7.52	15.44	15.05
Free Cash Flow Growth	-	-	-	-51.29%	2.63%	-
Free Cash Flow Margin	14.04%	-3.46%	-1.59%	5.19%	18.77%	22.25%
Free Cash Flow Per Share	1.04	-0.24	-0.08	0.07	0.64	0.62
Cash Interest Paid	34.86	12.33	0.4	0.24	0.23	0.02
Cash Income Tax Paid	7.27	-7.09	0.04	1.22	0.01	-0.22
Levered Free Cash Flow	-141.8	-1.25	-134.59	-19.33	9.9	-
Unlevered Free Cash Flow	-116.18	13.19	-133.41	-18.83	10.16	-
Change in Net Working Capital	118.97	92.75	154.93	28.92	3.82	-

Source: S&P Capital IQ. Standard template. Financial Sources.