IST:ODINE Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	28.37	16.26	402.14	250.27	135.71	55.68
Depreciation & Amortization	60.12	45.3	11.39	7.62	4.16	2.94
Other Amortization	178.49	178.49	114.66	60.26	24.18	16.47
Loss (Gain) From Sale of Assets	-2.8	-1.68	-0	-	-	-
Loss (Gain) From Sale of Investments	-31.54	-32.79	-61.45	-28.89	30.14	-0.56
Provision & Write-off of Bad Debts	0.04	0.04	1.3	4.81	0.34	0.15
Other Operating Activities	185.54	218.42	83.37	199.58	9.24	6.77
Change in Accounts Receivable	-473.53	-226.49	-202.15	-431.28	-149.32	-51.3
Change in Inventory	-52.36	-45.54	4.66	10.62	-7.13	-6.7
Change in Accounts Payable	137.25	208.12	349.82	69.33	17.77	79.67
Change in Unearned Revenue	44.87	18.28	-165.14	-19.31	177.7	53.51
Change in Other Net Operating Assets	184.67	154.81	-281.43	328.47	-301.71	-7.94
Operating Cash Flow	259.13	533.21	257.14	451.47	-58.91	148.69
Operating Cash Flow Growth	-57.12%	107.36%	-43.04%	-	-	-
Capital Expenditures	-465.96	-403.75	-472.79	-191.76	-86.29	-12.74
Sale of Property, Plant & Equipment	8.28	7.07	0.21	0.02	6.67	0.52
Investment in Securities	-241.33	-241.33	-	-	-	-
Investing Cash Flow	-699.01	-638.01	-472.58	-191.74	-79.62	-12.22
Long-Term Debt Repaid	-	-28.58	-7.44	-4.45	-3.68	-1.67
Net Debt Issued (Repaid)	-22.39	-28.58	-7.44	-4.45	-3.68	-1.67
Issuance of Common Stock	-	-	628.3	27.23	-	-
Other Financing Activities	90.16	111.56	75.57	-84.61	0.29	13.3
Financing Cash Flow	67.77	82.98	696.44	-61.83	-3.39	11.63
Foreign Exchange Rate Adjustments	-113.82	-142.48	-45.49	-42.26	10.8	-12.85
Net Cash Flow	-485.93	-164.3	435.51	155.64	-131.12	135.24
Free Cash Flow	-206.83	129.46	-215.64	259.71	-145.2	135.95
Free Cash Flow Margin	-9.01%	6.87%	-17.97%	33.67%	-44.26%	69.67%
Free Cash Flow Per Share	-	1.17	-2.04	3.12	-55.21	51.69
Cash Interest Paid	-	-	1.67	18.82	14.77	1.98
Cash Income Tax Paid	23.88	23.88	28.25	4.85	11.25	6.29
Levered Free Cash Flow	-714.92	-389.18	-200.73	-241.21	36.53	-
Unlevered Free Cash Flow	-700.48	-375.85	-197.01	-227.56	46.46	-
Change in Working Capital	-159.1	109.17	-294.25	-42.17	-262.68	67.24

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