IST:MSGYO 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	2016 - 2020
Period Ending	Jun '25 Jun 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	2016 - 2020
Net Income	9.57	102.21	1,260	826.07	215.35	12.6	Upgrade
Depreciation & Amortization	0.9	0.77	0.38	0.21	0.05	0.04	Upgrade
Gain (Loss) on Sale of Assets	39.32	-0.32	-22.8	-54.3	-	-	Upgrade
Gain (Loss) on Sale of Investments	-24.31	-0.71	-7.85	-	-	-	Upgrade
Asset Writedown	13.55	13.55	-1,100	-691.96	-182.87	-7.07	Upgrade
Change in Accounts Receivable	27.45	0.39	76.63	-53.23	-3.46	2.93	Upgrade
Change in Accounts Payable	43.77	0.14	0.17	-0.07	-0.1	-0.44	Upgrade
Change in Other Net Operating Assets	20.97	-8.3	-11.89	7.48	0.46	-0.13	Upgrade
Other Operating Activities	-0.73	-6.76	37.22	49.4	-0.21	-0.01	Upgrade
Operating Cash Flow	-236.1	107.48	255.47	102.66	53	9.37	Upgrade
Operating Cash Flow Growth	-	-57.93%	148.86%	93.70%	465.84%	-51.44%	Upgrade
Acquisition of Real Estate Assets	43.81	-1.54	-17.53	-95.94	-0.01	-0.01	Upgrade
Sale of Real Estate Assets	-0.16	0.45	70.89	90.6	-	-	Upgrade
Net Sale / Acq. of Real Estate Assets	43.64	-1.1	53.36	-5.34	-0.01	-0.01	Upgrade
Other Investing Activities	83.12	287.53	-107.79	-	-	-	Upgrade
Investing Cash Flow	126.76	286.43	-54.43	-5.34	-0.01	-0.01	Upgrade
Short-Term Debt Repaid	-	-	-	-	-	-1.15	Upgrade
Total Debt Repaid	-	-	-	-	-	-1.15	Upgrade
Net Debt Issued (Repaid)	-	-	-	-	-	-1.15	Upgrade
Repurchase of Common Stock	-25.04	-21.12	-22.86	-	-	-	Upgrade
Common Dividends Paid	-173.35	-104.16	-116.71	-28.4	-4.39	-4.38	Upgrade
Other Financing Activities	-	-	-	-	-0.24	-0.01	Upgrade
Foreign Exchange Rate Adjustments	-54.37	-	-	-55.48	-	-	Upgrade
Miscellaneous Cash Flow Adjustments	-32.25	-60.7	-88.11	-	-	-	Upgrade
Net Cash Flow	-394.35	207.93	-26.65	13.44	48.35	3.82	Upgrade
Cash Interest Paid	-	-	-	-	0.24	0.01	Upgrade
Cash Income Tax Paid	7.41	7.41	1.28	-0.06	0.18	0.01	Upgrade
Levered Free Cash Flow	-365.27	-178.93	69.23	-157.26	44.21	6.24	Upgrade
Unlevered Free Cash Flow	-365.27	-178.93	69.23	-157.26	44.36	6.25	Upgrade
Change in Working Capital	-274.4	-1.27	88.51	-26.76	20.71	3.81	Upgrade

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