IST:MAVI Cash Flow Statement

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

Millions TRY. Fiscal year is Feb - Jan.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Net Income	2,294	3,559	2,535	1,906	400.44
Depreciation & Amortization	3,216	2,912	2,217	1,471	345.47
Other Amortization	220.34	155.17	70.57	47.7	12.58
Loss (Gain) From Sale of Assets	44.96	1.92	2.76	-4.25	-0.15
Loss (Gain) From Sale of Investments	-	-	-	-24.88	-
Stock-Based Compensation	27.45	30.51	27.04	1.56	-
Provision & Write-off of Bad Debts	13.77	-0.23	-9.42	8.94	-1.1
Other Operating Activities	3,341	2,453	2,288	-244.74	427.6
Change in Accounts Receivable	-826.48	-985.64	-679.6	-892.44	-177.43
Change in Inventory	-786.52	-2,046	-1,491	-2,655	-218.1
Change in Accounts Payable	-301.36	1,457	905.33	2,608	500.42
Change in Unearned Revenue	282.71	61.12	77.57	140.33	10.98
Change in Other Net Operating Assets	1,345	523.55	573.31	524.56	69.3
Operating Cash Flow	8,871	8,121	6,517	2,887	1,370
Operating Cash Flow Growth	9.23%	24.60%	125.77%	110.70%	251.85%
Capital Expenditures	-2,168	-1,440	-718.29	-428.15	-130.29
Sale of Property, Plant & Equipment	54.26	14.63	16.01	11.98	0.41
Sale (Purchase) of Intangibles	-444.24	-428.29	-128.48	-152.09	-33.54
Other Investing Activities	1,465	2,431	1,360	433.41	56.66
Investing Cash Flow	-1,092	577.97	528.74	-134.86	-106.76
Long-Term Debt Issued	1,547	881.93	1,931	2,121	736.9
Long-Term Debt Repaid	-3,010	-2,851	-3,501	-1,965	-1,156
Net Debt Issued (Repaid)	-1,464	-1,969	-1,570	155.63	-419.21
Repurchase of Common Stock	-459.24	-	-	-	-
Common Dividends Paid	-1,110	-1,364	-931.05	-198.54	-30.35
Other Financing Activities	-2,649	-3,505	-2,238	-1,000	-224.96
Financing Cash Flow	-5,683	-6,838	-4,739	-1,043	-674.52
Miscellaneous Cash Flow Adjustments	-1,941	-2,671	-2,991	-308.76	-
Net Cash Flow	155.1	-810.46	-683.33	1,400	588.73
Free Cash Flow	6,703	6,681	5,799	2,458	1,240
Free Cash Flow Growth	0.33%	15.21%	135.88%	98.31%	299.47%
Free Cash Flow Margin	14.04%	13.28%	15.52%	11.69%	26.84%
Free Cash Flow Per Share	8.44	8.41	7.30	3.09	1.56
Cash Interest Paid	299.2	703.16	840.22	369.72	91.32
Cash Income Tax Paid	1,341	1,457	1,021	668.59	100.34
Levered Free Cash Flow	3,201	2,277	2,579	1,809	710.19
Unlevered Free Cash Flow	4,675	4,240	3,847	2,412	861.93
Change in Working Capital	-286.24	-990.32	-614.06	-274.48	185.17

Updated Jan 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.