IST:OZSUB Cash Flow Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	294.01	-113.39	-10.84	52.93	8.4
Depreciation & Amortization	92.38	56.25	46.56	22.72	3.27
Other Amortization	-	0.4	0.35	-	0.04
Loss (Gain) From Sale of Assets	0.56	-1.24	-1.14	-3.56	-
Asset Writedown & Restructuring Costs	-	41.85	-5.69	-38.82	10.23
Loss (Gain) on Equity Investments	-76.35	-106.03	-43.29	1.7	-
Provision & Write-off of Bad Debts	-0.09	-	-0.03	1.32	0.13
Other Operating Activities	217.44	47.66	6.88	70.74	22.35
Change in Accounts Receivable	-30.59	167.09	-229.56	-	-11.56
Change in Inventory	-12.34	9.12	-7.06	-3.22	-2.64
Change in Accounts Payable	-59.01	-681.19	520.4	37.68	112.92
Change in Unearned Revenue	0.05	-0.11	-0.09	-0.85	-
Change in Income Taxes	8.07	-9.73	-0.34	3.18	0.06
Change in Other Net Operating Assets	401.47	284.49	-344.16	5.32	-113.27
Operating Cash Flow	835.6	-304.83	-68.02	149.12	29.91
Operating Cash Flow Growth	-	-	-	398.54%	-
Capital Expenditures	-252	-51.71	-81.84	-49.22	-5.27
Sale (Purchase) of Intangibles	-0.32	-50.37	-1.47	-0.25	-0.11
Investment in Securities	189.23	39.25	39.58	-71.98	-
Other Investing Activities	-	-0.61	-	-	-0.09
Investing Cash Flow	-63.1	-63.44	-43.73	-121.46	-5.46
Short-Term Debt Issued	-	-	-	-	11.86
Long-Term Debt Issued	379.18	540.58	120.52	-	-
Total Debt Issued	379.18	540.58	120.52	-	11.86
Long-Term Debt Repaid	-2.33	-0.36	-0.32	-119.87	-20.17
Net Debt Issued (Repaid)	376.85	540.22	120.21	-119.87	-8.31
Issuance of Common Stock	-	-	-	266.69	-
Common Dividends Paid	-	-1.79	-	-	-
Other Financing Activities	-400.51	-154.8	-136.78	-57.39	-14.34
Financing Cash Flow	-23.66	383.62	-16.58	89.42	-22.65
Miscellaneous Cash Flow Adjustments	-76.08	-3.93	-23.31	-22.65	-
Net Cash Flow	672.76	11.43	-151.64	94.44	1.8
Free Cash Flow	583.6	-356.54	-149.86	99.9	24.65
Free Cash Flow Growth	-	-	-	305.34%	-
Free Cash Flow Margin	19.69%	-13.85%	-6.85%	6.72%	5.63%
Free Cash Flow Per Share	-	-2.97	-1.25	1.11	0.62
Cash Interest Paid	-	156.67	104.78	60.8	14.34
Cash Income Tax Paid	-	-	28.88	-0.74	-
Levered Free Cash Flow	-185.46	-315.9	-190.27	-237.62	-
Unlevered Free Cash Flow	199.14	-217.94	-124.74	-199.54	-
Change in Working Capital	307.65	-230.33	-60.82	42.11	-14.5

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.