IST:MNDRS 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	307.38	-30.79	1,601	1,919	-267.78
Depreciation & Amortization	981.24	968.19	661.68	336.83	110.87
Other Amortization	40.84	29.99	16.98	9.33	1.86
Asset Writedown & Restructuring Costs	-51.13	-1,058	-90.83	530.78	-60.39
Loss (Gain) From Sale of Investments	-0.06	-0.2	-	-	-
Loss (Gain) on Equity Investments	34.73	23.98	-115.38	-170.37	-30.61
Other Operating Activities	-71.12	-257.5	-2,740	4,955	693
Change in Accounts Receivable	-279.63	-610.31	-859.92	-696.47	-88.89
Change in Inventory	330.41	662.41	1,178	-828.47	-181.52
Change in Accounts Payable	376.12	264.94	464.38	-432.31	67.21
Change in Unearned Revenue	-45.36	-42.24	-43.45	27.24	3.73
Change in Other Net Operating Assets	111.56	-26.48	309.79	213.39	-48.9
Operating Cash Flow	1,735	-76.36	381.77	5,858	198.57
Operating Cash Flow Growth	-	-	-93.48%	2849.97%	-
Capital Expenditures	-200.18	-322.88	-952.65	-95.73	-23.44
Sale of Property, Plant & Equipment	14.13	0.76	2.25	55.1	0.82
Sale (Purchase) of Intangibles	-38.33	-0.07	-30.11	-37.88	-0.26
Sale (Purchase) of Real Estate	-1.87	-	-	-	-
Investment in Securities	24.01	-2.68	-4.26	-	-
Other Investing Activities	-	-	1.14	-	-
Investing Cash Flow	-202.24	-324.87	-983.62	-78.51	-22.89
Long-Term Debt Issued	501.66	551.92	2,706	2,391	818.02
Long-Term Debt Repaid	-1,038	-19.97	-2,003	-8,095	-923.1
Net Debt Issued (Repaid)	-536.37	531.95	702.73	-5,703	-105.08
Issuance of Common Stock	-	-	413.68	-	-
Financing Cash Flow	-536.37	531.95	1,116	-5,703	-105.08
Miscellaneous Cash Flow Adjustments	-179.08	-220.43	-162.19	-201.45	-
Net Cash Flow	817.28	-89.72	352.37	-125.68	70.6
Free Cash Flow	1,535	-399.24	-570.87	5,762	175.13
Free Cash Flow Growth	-	-	-	3190.23%	-
Free Cash Flow Margin	17.38%	-3.88%	-6.24%	72.08%	7.86%
Free Cash Flow Per Share	5.54	-1.44	-2.06	23.05	0.70
Cash Interest Paid	-	-	-	2.08	1.41
Cash Income Tax Paid	-	1.61	-0.37	4.08	-0.08
Levered Free Cash Flow	1,253	-1,018	-714.75	-1,401	-13.25
Unlevered Free Cash Flow	1,517	-487.67	-433.84	-1,255	22.3
Change in Working Capital	493.1	248.32	1,048	-1,723	-248.38

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