IST:MERIT Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	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	2015 - 2019
Net Income	357.47	121.66	15.55	3.9	2.44	Upgrade
Depreciation & Amortization	-	-	-	0	0	Upgrade
Loss (Gain) From Sale of Investments	-19.59	-	-	-	-	Upgrade
Other Operating Activities	-279.49	-60.04	17.53	-0.68	-0.22	Upgrade
Change in Accounts Receivable	13.23	-47.73	-13.71	-6.55	11.64	Upgrade
Change in Accounts Payable	-0.14	-1.71	2.23	0.07	-0.27	Upgrade
Change in Other Net Operating Assets	-17.68	47.04	-10.91	16.29	-13.6	Upgrade
Operating Cash Flow	53.8	59.2	10.7	13.03	0.01	Upgrade
Operating Cash Flow Growth	-9.13%	453.43%	-17.89%	240374.38%	-78.29%	Upgrade
Cash Acquisitions	-	-	-3.38	-	-	Upgrade
Investment in Securities	-23	-	-	-233	-	Upgrade
Investing Cash Flow	-23	-	-3.38	-233	-	Upgrade
Issuance of Common Stock	-	-	-	219.98	-	Upgrade
Common Dividends Paid	-31.45	-57.9	-5.1	-	-	Upgrade
Financing Cash Flow	-31.45	-57.9	-5.1	219.98	-	Upgrade
Foreign Exchange Rate Adjustments	-0.66	1.31	-	-	-	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-0.08	-	-	Upgrade
Net Cash Flow	-1.31	2.61	2.15	0.01	0.01	Upgrade
Cash Income Tax Paid	11.92	8.29	5.56	0.48	0.42	Upgrade
Levered Free Cash Flow	40.26	41.69	7.88	12.82	-0.61	Upgrade
Unlevered Free Cash Flow	40.26	41.69	7.88	12.82	-0.58	Upgrade
Change in Net Working Capital	6.33	5.57	21.38	-9.56	2.77	Upgrade

Updated Mar 11, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.