IST:ORZAX 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
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	1,261	1,053	725.25	966.41
Depreciation & Amortization	238.51	253.31	247.81	278.97
Loss (Gain) From Sale of Assets	3.61	2.79	0.68	284.26
Provision & Write-off of Bad Debts	3.21	2.63	2.17	13.47
Other Operating Activities	1,860	1,578	1,615	405.76
Change in Accounts Receivable	-1,187	-990.45	97.77	-737.95
Change in Inventory	-1,021	-590.55	-561.44	300.6
Change in Unearned Revenue	19.2	44.21	17.38	-86.43
Change in Other Net Operating Assets	-1,611	-2,056	-1,389	319.13
Operating Cash Flow	-139.03	-703.16	755.69	1,744
Operating Cash Flow Growth	-	-	-56.67%	-
Capital Expenditures	-593.87	-499.15	-362.85	-512.5
Sale of Property, Plant & Equipment	14.21	14.24	94.21	119.54
Investing Cash Flow	-579.65	-484.91	-268.64	-392.96
Long-Term Debt Issued	-	1,658	21.15	-
Long-Term Debt Repaid	-	-	-	-504.25
Net Debt Issued (Repaid)	2,800	1,658	21.15	-504.25
Issuance of Common Stock	-	-	-	519.83
Other Financing Activities	-369.88	-364.7	-309.77	-1,356
Financing Cash Flow	1,548	1,293	-288.62	-1,340
Miscellaneous Cash Flow Adjustments	-63.84	-59.72	-48.59	-195.04
Net Cash Flow	765.1	45.62	149.84	-184.11
Free Cash Flow	-732.89	-1,202	392.84	1,232
Free Cash Flow Growth	-	-	-68.11%	-
Free Cash Flow Margin	-9.08%	-16.40%	6.87%	16.17%
Free Cash Flow Per Share	-2.39	-3.92	1.28	17.38
Levered Free Cash Flow	-	-2,204	369.63	-
Unlevered Free Cash Flow	-	-1,622	800.7	-
Cash Interest Paid	1,070	930.76	689.71	397.37
Cash Income Tax Paid	333.83	212.21	579.95	279.06
Change in Working Capital	-3,506	-3,593	-1,835	-204.66