IST:MARKA 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	62.26	87.41	-16.42	28.64	-5.08
Depreciation & Amortization	3.39	2.03	1.42	1.17	0.29
Other Amortization	-	0.09	-	-	0
Asset Writedown & Restructuring Costs	26.86	-0.42	4.52	-	-
Provision & Write-off of Bad Debts	-	-	-	-0.39	0.14
Other Operating Activities	-260.88	-10.37	-41.98	-16.31	3.46
Change in Accounts Receivable	149	49.39	-17.59	-8.64	-6.5
Change in Inventory	-18.8	14.75	1.56	-4.02	-2.06
Change in Accounts Payable	49.33	7.17	8.25	-0.57	0.19
Change in Unearned Revenue	-11.35	11.11	-0.65	0.36	0.05
Change in Other Net Operating Assets	-1.29	-153.98	64.16	-4.96	5.68
Operating Cash Flow	-1.49	7.19	3.28	-4.72	-3.83
Operating Cash Flow Growth	-	119.14%	-	-	-
Capital Expenditures	-	-7.98	-3.88	-6.82	-2.54
Sale of Property, Plant & Equipment	-	-	-	3.99	0.31
Investment in Securities	-	-	-	-0.21	-6.7
Investing Cash Flow	-	-7.98	-3.88	-3.03	-8.92
Short-Term Debt Repaid	-	-0.04	-0.21	-0.11	-0.02
Total Debt Repaid	-	-0.04	-0.21	-0.11	-0.02
Net Debt Issued (Repaid)	-	-0.04	-0.21	-0.11	-0.02
Issuance of Common Stock	-	-	-	-	14.22
Other Financing Activities	-	-	-	-	-0.25
Financing Cash Flow	-	-0.04	-0.21	-0.11	13.95
Miscellaneous Cash Flow Adjustments	-0.13	0.5	0.9	3.71	-
Net Cash Flow	-1.62	-0.33	0.09	-4.15	1.21
Free Cash Flow	-1.49	-0.79	-0.6	-11.54	-6.36
Free Cash Flow Margin	-1.33%	-0.39%	-1.25%	-29.86%	-42.97%
Free Cash Flow Per Share	-0.07	-0.04	-0.03	-0.55	-0.30
Cash Income Tax Paid	-	-22.41	4.79	1.38	0.52
Levered Free Cash Flow	148.03	-28.19	0.13	-27.99	14.42
Unlevered Free Cash Flow	148.12	-28.19	0.15	-27.93	14.59
Change in Working Capital	166.87	-71.55	55.74	-17.83	-2.65

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