IST:NETCD 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	739.23	582.43	266.6	275.08
Depreciation & Amortization	66.65	55.79	48.7	72.25
Other Amortization	164.64	132.43	149.82	145.64
Loss (Gain) From Sale of Assets	-0.15	-0.05	-0.03	-0.03
Provision & Write-off of Bad Debts	8.47	10.98	1.67	3.48
Other Operating Activities	-11.99	10.96	12.12	-54.45
Change in Accounts Receivable	-77.24	-177.13	-60.17	45.73
Change in Inventory	-0.07	0.32	0.14	0.17
Change in Accounts Payable	2.13	4.63	-1.04	-3.37
Change in Unearned Revenue	-0.64	-4.47	-16.81	20.57
Change in Other Net Operating Assets	-18.35	-13.8	-118.89	-31.94
Operating Cash Flow	872.67	602.07	282.11	473.11
Operating Cash Flow Growth	-	113.42%	-40.37%	-
Capital Expenditures	-391.84	-380.02	-217.66	-284.26
Sale of Property, Plant & Equipment	0.79	0.82	79.96	0.83
Investment in Securities	-227.77	-12.57	-	-
Other Investing Activities	53.57	18.38	7.15	3.15
Investing Cash Flow	-619.82	-373.39	-130.55	-280.28
Long-Term Debt Issued	-	58.26	204.13	693.76
Long-Term Debt Repaid	-	-141.53	-289.2	-596.96
Net Debt Issued (Repaid)	-37.13	-83.27	-85.07	96.8
Common Dividends Paid	-189.97	-16.49	-	-130.7
Other Financing Activities	-1.61	-9.76	-48.31	-52.97
Financing Cash Flow	-228.71	-109.53	-133.38	-86.86
Miscellaneous Cash Flow Adjustments	-24.16	-20.51	-60.13	-7.24
Net Cash Flow	-0.02	98.64	-41.95	98.74
Free Cash Flow	480.83	222.05	64.45	188.86
Free Cash Flow Growth	-	244.54%	-65.87%	-
Free Cash Flow Margin	36.49%	19.73%	7.26%	23.42%
Free Cash Flow Per Share	3.47	2.69	1.29	3.78
Cash Interest Paid	1.39	7.8	50	53.24
Levered Free Cash Flow	-	115.71	188.04	-
Unlevered Free Cash Flow	-	138.73	243.81	-
Change in Working Capital	-94.18	-190.46	-196.77	31.15

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