IST:PAMEL 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	-289.53	-459.97	269.84	142.42	3.04
Depreciation & Amortization	38.97	47.11	33.42	15.6	2.97
Asset Writedown	209.09	363.05	112.52	2.07	-
Change in Accounts Receivable	-1.56	-0.59	-2.02	1.09	-0.33
Change in Accounts Payable	-0.26	-1.56	3.73	1.05	0.63
Change in Other Net Operating Assets	-26.93	-17.54	-123.61	-6.98	-1.29
Other Operating Activities	94.34	80.94	-194.24	-121.45	-1.71
Operating Cash Flow	24.12	11.43	99.64	33.79	3.3
Operating Cash Flow Growth	110.92%	-88.53%	194.90%	922.99%	-59.39%
Capital Expenditures	-0.08	-126.49	-72.95	-30.62	-8.78
Cash Acquisitions	-	-	-	-1.55	-
Investing Cash Flow	-0.08	-126.49	-72.95	-32.17	-8.78
Long-Term Debt Repaid	-6.62	-32.66	-13.53	-37.62	-17.66
Total Debt Repaid	-6.62	-32.66	-13.53	-37.62	-17.66
Net Debt Issued (Repaid)	-6.62	-32.66	-13.53	-37.62	-17.66
Other Financing Activities	-15.65	49.65	90.26	52	23.4
Financing Cash Flow	-22.27	16.99	76.72	14.38	5.73
Foreign Exchange Rate Adjustments	-	-	-	-5.64	-
Miscellaneous Cash Flow Adjustments	-0.67	-13.83	-34.49	-	-
Net Cash Flow	1.11	-111.9	68.93	10.37	0.26
Free Cash Flow	24.04	-115.05	26.7	3.17	-5.47
Free Cash Flow Growth	-	-	741.26%	-	-
Free Cash Flow Margin	30.25%	-131.89%	34.03%	6.35%	-59.39%
Free Cash Flow Per Share	0.77	-3.70	0.86	0.10	-0.20
Cash Interest Paid	26.39	0.78	1.68	0.71	1.49
Cash Income Tax Paid	0.5	7.37	2.39	-	-
Levered Free Cash Flow	-55.94	-166.32	-159.92	130.36	0.1
Unlevered Free Cash Flow	94.05	-31.54	-65.01	139.61	2.76
Change in Working Capital	-28.75	-19.69	-121.9	-4.85	-0.99

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