IST:MOGAN Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	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
Net Income	-8,074	-3,791	1,821	-3,831	1,704	342.91
Depreciation & Amortization	8,105	7,467	7,702	6,695	1,294	679.2
Asset Writedown	-	-	81.16	5,248	-	-
Change in Accounts Receivable	1,601	2,819	1,973	-2,737	-	-
Change in Inventory	45.2	74.15	253.34	3.55	-	-
Change in Accounts Payable	225.59	408.19	-1,568	988.94	-	-
Change in Unearned Revenue	-32.83	11.04	0.53	0.04	-	-
Change in Other Net Operating Assets	-1,129	-1,808	-2,253	2,307	-	-
Other Operating Activities	4,725	1,749	-1,045	4,211	-2,928	819.99
Operating Cash Flow	5,467	6,929	6,963	12,885	69.24	1,842
Operating Cash Flow Growth	-51.17%	-0.49%	-45.96%	18511.06%	-96.24%	-
Capital Expenditures	-556.43	-597.02	-118.69	-7,140	-	-
Sale of Property, Plant & Equipment	-1.82	0.19	0.04	6.63	-	-
Cash Acquisitions	0.57	-1.63	-	-	-	-
Sale (Purchase) of Intangibles	-0.38	-	-0.98	-2.78	-	-
Other Investing Activities	519.66	1,316	836.6	207.43	1,337	-1,383
Investing Cash Flow	-38.4	717.62	716.96	-6,929	1,337	-1,383
Long-Term Debt Issued	-	-	487.38	4,672	-	-
Long-Term Debt Repaid	-	-6,109	-6,000	-7,303	-	-
Net Debt Issued (Repaid)	-5,743	-6,109	-5,512	-2,632	-	-
Issuance of Common Stock	-	2,924	-	-	-	-
Other Financing Activities	-1,805	-3,459	-2,907	-3,332	-642.36	-1,035
Financing Cash Flow	-8,262	-6,645	-8,419	-5,964	-642.36	-1,035
Foreign Exchange Rate Adjustments	-1.07	-0.11	-	-	-45.59	401.44
Miscellaneous Cash Flow Adjustments	-762.21	-890.96	-2,356	-	-	-
Net Cash Flow	-3,597	110.66	-3,096	-7.02	718.14	-174.67
Free Cash Flow	4,910	6,332	6,844	5,745	69.24	1,842
Free Cash Flow Growth	-55.58%	-7.49%	19.12%	8198.40%	-96.24%	-
Free Cash Flow Margin	42.77%	49.15%	37.27%	28.23%	2.11%	89.65%
Free Cash Flow Per Share	-	2.60	3.07	2.58	-	-
Cash Interest Paid	126.17	3,467	3,476	3,420	-	-
Cash Income Tax Paid	8.63	39.74	-0.22	-2.52	-	-
Levered Free Cash Flow	-659.57	7,694	5,701	-207.78	1,330	-
Unlevered Free Cash Flow	7,743	9,895	8,017	1,638	1,886	-
Change in Working Capital	710.42	1,504	-1,595	562.84	-	-

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