IST:SAYAS 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	153.87	25.58	174.04	145.32	66.44
Depreciation & Amortization	47.35	36.13	19.66	13.86	2.89
Other Amortization	0.28	0.37	0.19	0.13	0.02
Loss (Gain) From Sale of Assets	-2.19	2.96	0.04	-0.1	-0.37
Asset Writedown & Restructuring Costs	-34.41	-83.69	-	-	0.25
Provision & Write-off of Bad Debts	-0.02	-2.57	1.08	0.49	0.5
Other Operating Activities	75.01	22.88	68.21	1.27	4.21
Change in Accounts Receivable	-33.45	-183.69	77.69	-17.73	-29.34
Change in Inventory	-236.33	117.82	-21.4	21.05	0.17
Change in Accounts Payable	-0.86	153.36	-70.4	7.11	13.06
Change in Unearned Revenue	-	-	-0.74	13.89	-16.43
Change in Other Net Operating Assets	34.24	32.55	-112.48	-60.02	1.58
Operating Cash Flow	3.5	121.69	135.89	125.26	42.98
Operating Cash Flow Growth	-97.12%	-10.45%	8.49%	191.42%	-
Capital Expenditures	-167.63	-253.79	-92.47	-6.4	-8.94
Sale of Property, Plant & Equipment	4.41	0.37	0.31	0.22	0.51
Sale (Purchase) of Intangibles	-	-	-0.05	-0.06	-0.14
Investment in Securities	217.74	249.6	-	-	-
Other Investing Activities	-	-	-169.32	-	-
Investing Cash Flow	54.52	-3.81	-261.52	-6.25	-8.57
Short-Term Debt Issued	-	-	-	1.14	-
Long-Term Debt Issued	250.52	384.5	235.52	59.38	21.16
Total Debt Issued	250.52	384.5	235.52	60.52	21.16
Short-Term Debt Repaid	-	-	-0.84	-	-0.01
Long-Term Debt Repaid	-287.06	-253.53	-149.32	-70.25	-34.94
Total Debt Repaid	-287.06	-253.53	-150.17	-70.25	-34.96
Net Debt Issued (Repaid)	-36.54	130.97	85.35	-9.73	-13.8
Repurchase of Common Stock	-	-	-15.75	-	-
Other Financing Activities	3.62	-41.3	-30.5	-1.69	-0.76
Financing Cash Flow	-32.92	89.67	39.11	-11.42	-14.56
Foreign Exchange Rate Adjustments	-	-	-	-26.11	-
Miscellaneous Cash Flow Adjustments	-58.26	-17.44	-84.12	-	-
Net Cash Flow	-33.17	190.1	-170.64	81.49	19.85
Free Cash Flow	-164.13	-132.1	43.42	118.86	34.04
Free Cash Flow Growth	-	-	-63.47%	249.19%	-
Free Cash Flow Margin	-8.12%	-6.02%	3.30%	9.81%	9.78%
Free Cash Flow Per Share	-2.13	-1.71	0.56	1.54	0.44
Cash Interest Paid	18.99	80.8	30.5	1.72	0.76
Cash Income Tax Paid	47.51	24.47	101.69	82.19	18.68
Levered Free Cash Flow	-185.21	-141.59	-169.53	71.64	8.72
Unlevered Free Cash Flow	-155.36	-116.35	-148.95	73.54	9.36
Change in Working Capital	-236.4	120.04	-127.32	-35.71	-30.96

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