IST:MARBL 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	1.19	113.26	129.04	53.59	10.18
Depreciation & Amortization	227.76	148.11	97.66	59.87	28.34
Other Amortization	-	-0	0.13	0.09	1.42
Loss (Gain) From Sale of Assets	1.2	-0.69	-2.85	4.79	-0.73
Asset Writedown & Restructuring Costs	5.84	-71.49	-72.68	-49.58	-4.81
Loss (Gain) From Sale of Investments	-	-10.38	-5.01	-0.69	-
Loss (Gain) on Equity Investments	-5.92	-	-	-	-0.83
Other Operating Activities	210.54	-92.12	12.17	47.19	34.49
Change in Accounts Receivable	-5.55	-6.53	2.02	-33.9	1.01
Change in Inventory	-263.5	-78.01	23.05	-30.37	-37.61
Change in Accounts Payable	-51.67	120.83	-29.91	27.69	25.62
Change in Unearned Revenue	-58.09	20.16	5.11	-5.86	15.75
Change in Other Net Operating Assets	43.47	-51.61	-18.68	61.51	-9.29
Operating Cash Flow	105.28	91.54	140.04	134.34	63.54
Operating Cash Flow Growth	15.02%	-34.64%	4.25%	111.44%	187.06%
Capital Expenditures	-151.92	-214.64	-80.78	-31.56	-14.28
Sale of Property, Plant & Equipment	15	2.14	11.07	0.76	5.67
Other Investing Activities	8.25	29.83	21.07	3.28	2.09
Investing Cash Flow	-128.67	-182.67	-48.64	-27.52	-6.51
Long-Term Debt Issued	140.82	258.14	24.32	123.58	60.61
Long-Term Debt Repaid	-79.98	-374.91	-183.65	-185.75	-104.77
Net Debt Issued (Repaid)	60.83	-116.78	-159.33	-62.17	-44.16
Issuance of Common Stock	-	-	501.75	144	-
Other Financing Activities	-31.55	-73.11	-143.25	-168.73	-15.6
Financing Cash Flow	29.28	-189.88	199.17	-86.9	-59.76
Net Cash Flow	5.89	-281.02	290.57	19.92	-2.73
Free Cash Flow	-46.64	-123.11	59.26	102.78	49.26
Free Cash Flow Growth	-	-	-42.34%	108.67%	235.57%
Free Cash Flow Margin	-1.44%	-5.15%	3.58%	8.84%	9.17%
Free Cash Flow Per Share	-	-0.54	0.32	3.12	13.68
Cash Interest Paid	-	71.15	64.25	30.42	15.6
Cash Income Tax Paid	-	9.66	-	-	-
Levered Free Cash Flow	-357.4	-226.79	-248.27	47.19	-71.99
Unlevered Free Cash Flow	-223.89	-182.32	-208.11	66.21	-62.24
Change in Working Capital	-335.33	4.84	-18.41	19.08	-4.52

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