IST:MEGMT 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	1,470	422.61	300.12	81.69	4.29
Depreciation & Amortization	509.38	348.29	224.01	120.32	73.36
Loss (Gain) From Sale of Assets	-53.23	-8.5	-22.26	-2.29	-
Asset Writedown & Restructuring Costs	4.43	19.93	49.31	-127.69	-17.87
Other Operating Activities	241.72	51.28	863.27	694.54	507.6
Change in Accounts Receivable	-880.02	-512.71	-259.25	-66.98	-262.73
Change in Inventory	-1,744	-579.5	-599.45	-31.07	-372.1
Change in Accounts Payable	2,299	-477.24	360.6	40.38	-
Change in Unearned Revenue	108.37	-71.38	184.9	88.73	135.28
Change in Other Net Operating Assets	-765.82	-250.12	92.39	-204.16	299.65
Operating Cash Flow	1,189	-1,057	1,194	593.46	367.49
Operating Cash Flow Growth	-	-	101.13%	61.49%	191.76%
Capital Expenditures	-1,798	-243.53	-354.82	-358.29	-109.69
Sale of Property, Plant & Equipment	176.97	31.68	63.49	43.1	25.35
Sale (Purchase) of Intangibles	-6.32	-	-	-	-0.49
Sale (Purchase) of Real Estate	-	-	-7.69	-16.84	-17.83
Investment in Securities	-	-	-	-	-0.66
Other Investing Activities	-0.88	115.63	-64.07	-111.4	-1.22
Investing Cash Flow	-1,628	-96.22	-363.07	-443.43	-104.53
Long-Term Debt Issued	3,074	1,270	173.6	455.12	157.22
Long-Term Debt Repaid	-	-	-18.12	-	-
Net Debt Issued (Repaid)	3,074	1,270	155.48	455.12	157.22
Issuance of Common Stock	-	-	1,087	10	49.16
Other Financing Activities	-14.59	193.48	-201.81	-413.66	-202.09
Financing Cash Flow	3,060	1,463	1,040	51.45	4.28
Foreign Exchange Rate Adjustments	-2,470	-171.48	-489.2	-189.03	-203.53
Net Cash Flow	151.14	138.45	1,382	12.46	63.71
Free Cash Flow	-608.75	-1,301	838.83	235.17	257.81
Free Cash Flow Growth	-	-	256.69%	-8.78%	-
Free Cash Flow Margin	-2.65%	-7.25%	7.15%	2.66%	6.01%
Free Cash Flow Per Share	-	-4.91	3.73	1.04	1.50
Cash Interest Paid	-	447.57	289.34	431.86	204.59
Levered Free Cash Flow	-1,764	-1,355	-168.56	-367.98	-154.29
Unlevered Free Cash Flow	-1,480	-1,075	38.55	-270.62	-120.41
Change in Working Capital	-982.67	-1,891	-220.8	-173.11	-199.89

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.