IST:MOGAN 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	-9,169	-4,962	1,821	-3,831	1,704
Depreciation & Amortization	9,733	9,774	7,702	6,695	1,294
Asset Writedown	-	-	81.16	5,248	-
Change in Accounts Receivable	1,017	3,690	1,973	-2,737	-
Change in Inventory	53.53	97.05	253.34	3.55	-
Change in Accounts Payable	-1,669	534.28	-1,568	988.94	-
Change in Unearned Revenue	-11	14.44	0.53	0.04	-
Change in Other Net Operating Assets	2,968	-2,367	-2,253	2,307	-
Other Operating Activities	3,761	2,289	-1,045	4,211	-2,928
Operating Cash Flow	6,684	9,069	6,963	12,885	69.24
Operating Cash Flow Growth	-26.30%	30.25%	-45.96%	18511.06%	-96.24%
Capital Expenditures	-745.26	-781.45	-119.68	-7,140	-
Sale of Property, Plant & Equipment	1.23	0.25	0.04	6.63	-
Cash Acquisitions	-	-2.14	-	-	-
Sale (Purchase) of Intangibles	-0.6	-	-	-2.78	-
Other Investing Activities	615.72	1,723	836.6	207.43	1,337
Investing Cash Flow	-128.91	939.3	716.96	-6,929	1,337
Long-Term Debt Issued	293.17	-	487.38	4,672	-
Long-Term Debt Repaid	-7,747	-7,997	-6,000	-7,303	-
Net Debt Issued (Repaid)	-7,454	-7,997	-5,512	-2,632	-
Issuance of Common Stock	-	3,827	-	-	-
Other Financing Activities	329.16	-4,528	-2,907	-3,332	-642.36
Financing Cash Flow	-7,125	-8,697	-8,419	-5,964	-642.36
Foreign Exchange Rate Adjustments	-0.88	-0.14	-	-	-45.59
Miscellaneous Cash Flow Adjustments	-929.62	-1,166	-2,356	-	-
Net Cash Flow	-1,500	144.84	-3,096	-7.02	718.14
Free Cash Flow	5,939	8,288	6,843	5,745	69.24
Free Cash Flow Growth	-28.34%	21.11%	19.11%	8198.40%	-96.24%
Free Cash Flow Margin	45.32%	49.15%	37.27%	28.23%	2.11%
Free Cash Flow Per Share	2.43	3.40	3.07	2.58	-
Cash Interest Paid	403.46	4,538	3,476	3,420	-
Cash Income Tax Paid	-16.38	52.02	-0.22	-2.52	-
Levered Free Cash Flow	3,990	9,689	5,701	-207.78	1,330
Unlevered Free Cash Flow	5,830	12,570	8,017	1,638	1,886
Change in Working Capital	2,359	1,969	-1,595	562.84	-

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