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
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	-79.34	102.21	1,260	826.07	215.35	12.6
Depreciation & Amortization	0.9	0.77	0.38	0.21	0.05	0.04
Gain (Loss) on Sale of Assets	0.12	-0.32	-22.8	-54.3	-	-
Gain (Loss) on Sale of Investments	-33.3	-0.71	-7.85	-	-	-
Asset Writedown	70.42	13.55	-1,100	-691.96	-182.87	-7.07
Change in Accounts Receivable	89.68	0.39	76.63	-53.23	-3.46	2.93
Change in Accounts Payable	89.52	0.14	0.17	-0.07	-0.1	-0.44
Change in Other Net Operating Assets	-25.26	-8.3	-11.89	7.48	0.46	-0.13
Other Operating Activities	68.37	-6.76	37.22	49.4	-0.21	-0.01
Operating Cash Flow	-349.63	107.48	255.47	102.66	53	9.37
Operating Cash Flow Growth	-	-57.93%	148.86%	93.70%	465.84%	-51.44%
Acquisition of Real Estate Assets	-4.95	-1.54	-17.53	-95.94	-0.01	-0.01
Sale of Real Estate Assets	-0.15	0.45	70.89	90.6	-	-
Net Sale / Acq. of Real Estate Assets	-5.1	-1.1	53.36	-5.34	-0.01	-0.01
Other Investing Activities	-44.42	287.53	-107.79	-	-	-
Investing Cash Flow	-49.51	286.43	-54.43	-5.34	-0.01	-0.01
Short-Term Debt Repaid	-	-	-	-	-	-1.15
Total Debt Repaid	-	-	-	-	-	-1.15
Net Debt Issued (Repaid)	-	-	-	-	-	-1.15
Repurchase of Common Stock	-5.14	-21.12	-22.86	-	-	-
Common Dividends Paid	-104.16	-104.16	-116.71	-28.4	-4.39	-4.38
Other Financing Activities	-	-	-	-	-0.24	-0.01
Foreign Exchange Rate Adjustments	-37.72	-	-	-55.48	-	-
Miscellaneous Cash Flow Adjustments	-60.7	-60.7	-88.11	-	-	-
Net Cash Flow	-606.87	207.93	-26.65	13.44	48.35	3.82
Cash Interest Paid	-	-	-	-	0.24	0.01
Cash Income Tax Paid	-	7.41	1.28	-0.06	0.18	0.01
Levered Free Cash Flow	-686.14	-178.93	69.23	-157.26	44.21	6.24
Unlevered Free Cash Flow	-686.14	-178.93	69.23	-157.26	44.36	6.25
Change in Working Capital	-376.8	-1.27	88.51	-26.76	20.71	3.81

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