IST:PAMEL 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	-269.76	-351.41	269.84	142.42	3.04	2.85
Depreciation & Amortization	30.8	36.12	33.42	15.6	2.97	1.96
Asset Writedown	277.36	277.36	112.52	2.07	-	-
Change in Accounts Receivable	-0.96	-0.45	-2.02	1.09	-0.33	-0.05
Change in Accounts Payable	-4.76	-1.19	3.73	1.05	0.63	-0.22
Change in Other Net Operating Assets	22.19	-13.38	-123.61	-6.98	-1.29	-0.18
Other Operating Activities	29.29	61.7	-194.24	-121.45	-1.71	3.77
Operating Cash Flow	84.17	8.75	99.64	33.79	3.3	8.13
Operating Cash Flow Growth	30.18%	-91.21%	194.90%	922.99%	-59.39%	12.71%
Capital Expenditures	25.62	-96.63	-72.95	-30.62	-8.78	-0.14
Cash Acquisitions	-	-	-	-1.55	-	-
Investing Cash Flow	25.62	-96.63	-72.95	-32.17	-8.78	-0.14
Long-Term Debt Issued	-	-	-	-	-	3.79
Long-Term Debt Repaid	-	-24.95	-13.53	-37.62	-17.66	-18.27
Total Debt Repaid	-4.72	-24.95	-13.53	-37.62	-17.66	-18.27
Net Debt Issued (Repaid)	-4.72	-24.95	-13.53	-37.62	-17.66	-14.48
Other Financing Activities	-85.36	37.93	90.26	52	23.4	-0
Financing Cash Flow	-90.08	12.98	76.72	14.38	5.73	-14.48
Foreign Exchange Rate Adjustments	-	-	-	-5.64	-	-
Miscellaneous Cash Flow Adjustments	2.02	-10.56	-34.49	-	-	-
Net Cash Flow	21.72	-85.47	68.93	10.37	0.26	-6.49
Free Cash Flow	109.79	-87.88	26.7	3.17	-5.47	7.99
Free Cash Flow Growth	-	-	741.26%	-	-	11.69%
Free Cash Flow Margin	179.90%	-131.86%	34.03%	6.35%	-59.39%	97.01%
Free Cash Flow Per Share	3.53	-2.83	0.86	0.10	-0.20	0.47
Cash Interest Paid	26.69	0.6	1.68	0.71	1.49	0.01
Cash Income Tax Paid	-	5.63	2.39	-	-	-
Levered Free Cash Flow	-20.15	-128.6	-159.92	130.36	0.1	9.92
Unlevered Free Cash Flow	102.53	-25.63	-65.01	139.61	2.76	10.06
Change in Working Capital	16.47	-15.02	-121.9	-4.85	-0.99	-0.45

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