IST:SASA 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	-21,986	23,926	26,266	22,754	697.44
Depreciation & Amortization	6,474	2,273	1,668	1,122	242.34
Other Amortization	71.3	82.1	29.3	6.98	1.07
Loss (Gain) From Sale of Assets	139.1	47.94	-4.13	-6.86	-2.74
Provision & Write-off of Bad Debts	-	-	-	7.84	1.4
Other Operating Activities	3,932	-11,249	-7,995	-19,687	625.91
Change in Accounts Receivable	-7,240	9,086	-10,322	-2,418	-1,541
Change in Inventory	2,633	4,245	-2,840	-7,994	-2,565
Change in Accounts Payable	19,297	-4,115	1,641	5,962	2,509
Change in Unearned Revenue	247.36	-4,260	-756.42	396.45	1,160
Change in Other Net Operating Assets	7,256	-5,288	403.12	486.51	-293.12
Operating Cash Flow	10,824	14,748	8,090	629.18	835.49
Operating Cash Flow Growth	-26.61%	82.31%	1185.73%	-24.69%	-27.96%
Capital Expenditures	-14,069	-39,350	-39,813	-18,625	-2,498
Sale of Property, Plant & Equipment	97.09	35.33	11.66	6.86	4.45
Other Investing Activities	174.28	280.97	324.8	38.79	20.57
Investing Cash Flow	-13,798	-39,034	-39,477	-18,579	-2,473
Long-Term Debt Issued	77,195	85,279	101,694	31,772	7,847
Long-Term Debt Repaid	-78,029	-60,726	-60,993	-11,842	-4,116
Net Debt Issued (Repaid)	-834.25	24,553	40,701	19,930	3,731
Repurchase of Common Stock	-289.25	-34.63	-	-682.51	-174.9
Other Financing Activities	2,976	-4,171	-2,915	-2,904	-481.18
Financing Cash Flow	1,853	20,347	37,787	16,344	3,075
Foreign Exchange Rate Adjustments	-	-	-	759.53	305.08
Miscellaneous Cash Flow Adjustments	-678.65	-3,129	-713.79	-3,704	-
Net Cash Flow	-1,800	-7,067	5,686	-4,551	1,742
Free Cash Flow	-3,246	-24,602	-31,724	-17,996	-1,663
Free Cash Flow Margin	-6.11%	-38.69%	-47.44%	-29.10%	-11.35%
Free Cash Flow Per Share	-0.07	-0.56	-0.95	-0.54	-0.04
Cash Interest Paid	8,724	7,196	9,790	2,816	525.03
Cash Income Tax Paid	48.16	197.44	-	78.26	17.18
Levered Free Cash Flow	-819.08	-41,073	-47,364	-18,116	-1,036
Unlevered Free Cash Flow	6,072	-35,735	-40,901	-16,052	-757.33
Change in Working Capital	22,194	-332.35	-11,874	-3,567	-729.93

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