IST:MARKA 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	84.98	87.41	-16.42	28.64	-5.08	0.43
Depreciation & Amortization	1.43	2.03	1.42	1.17	0.29	0.1
Other Amortization	0.09	0.09	-	-	0	0.01
Asset Writedown & Restructuring Costs	-0.42	-0.42	4.52	-	-	-
Provision & Write-off of Bad Debts	-	-	-	-0.39	0.14	-
Other Operating Activities	-115.02	-10.37	-41.98	-16.31	3.46	1.28
Change in Accounts Receivable	-9.4	49.39	-17.59	-8.64	-6.5	-3.28
Change in Inventory	-7.62	14.75	1.56	-4.02	-2.06	1.9
Change in Accounts Payable	50.61	7.17	8.25	-0.57	0.19	-0.75
Change in Unearned Revenue	-11.28	11.11	-0.65	0.36	0.05	0.01
Change in Other Net Operating Assets	116.58	-153.98	64.16	-4.96	5.68	-5.88
Operating Cash Flow	-8.05	7.19	3.28	-4.72	-3.83	-6.18
Operating Cash Flow Growth	-	119.14%	-	-	-	-
Capital Expenditures	7.18	-7.98	-3.88	-6.82	-2.54	-0.13
Sale of Property, Plant & Equipment	-	-	-	3.99	0.31	-
Investment in Securities	-	-	-	-0.21	-6.7	-0.02
Investing Cash Flow	7.18	-7.98	-3.88	-3.03	-8.92	-0.15
Short-Term Debt Repaid	-	-0.04	-0.21	-0.11	-0.02	-
Long-Term Debt Repaid	-	-	-	-	-	-1.35
Total Debt Repaid	-0.04	-0.04	-0.21	-0.11	-0.02	-1.35
Net Debt Issued (Repaid)	-0.04	-0.04	-0.21	-0.11	-0.02	-1.35
Issuance of Common Stock	-	-	-	-	14.22	8.3
Other Financing Activities	-	-	-	-	-0.25	-
Financing Cash Flow	-0.04	-0.04	-0.21	-0.11	13.95	6.94
Miscellaneous Cash Flow Adjustments	-0.11	0.5	0.9	3.71	-	-
Net Cash Flow	-1.02	-0.33	0.09	-4.15	1.21	0.62
Free Cash Flow	-0.87	-0.79	-0.6	-11.54	-6.36	-6.31
Free Cash Flow Margin	-0.71%	-0.39%	-1.25%	-29.86%	-42.97%	-50.77%
Free Cash Flow Per Share	-0.04	-0.04	-0.03	-0.55	-0.30	-0.30
Cash Income Tax Paid	-	-22.41	4.79	1.38	0.52	-1.57
Levered Free Cash Flow	111.03	-28.19	0.13	-27.99	14.42	10.2
Unlevered Free Cash Flow	111.03	-28.19	0.15	-27.93	14.59	10.2
Change in Working Capital	138.89	-71.55	55.74	-17.83	-2.65	-8

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