IST:SELEC 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	-379.8	2,695	322.27	635.7	922.71
Depreciation & Amortization	891.21	816.3	602.8	456.88	81.57
Loss (Gain) From Sale of Assets	-87.09	-101	-62.52	-50.95	-5.53
Asset Writedown & Restructuring Costs	-3,505	-1,975	-	-	-
Provision & Write-off of Bad Debts	185.37	91.18	87.72	17.51	12.26
Other Operating Activities	647.14	-1,329	-1,412	-317.4	-206.66
Change in Accounts Receivable	-2,552	-73.23	-15,217	-7,804	-2,404
Change in Inventory	-270.02	-1,315	763.88	-1,134	-140.67
Change in Accounts Payable	2,932	747.08	18,805	7,334	1,926
Change in Unearned Revenue	-12.86	21.98	1.9	2.14	-6.87
Change in Other Net Operating Assets	9,249	-11,063	-1,628	-179.27	8.27
Operating Cash Flow	7,099	-11,486	2,263	-1,039	186.87
Operating Cash Flow Growth	-	-	-	-	-62.55%
Capital Expenditures	-726.6	-626.68	-561.26	-355.1	-160.99
Sale of Property, Plant & Equipment	111.83	116.41	68.36	57.09	6.96
Sale (Purchase) of Intangibles	-2.55	-109.35	-1.53	-1.37	-0.76
Sale (Purchase) of Real Estate	3.38	-	-	3.85	0.47
Other Investing Activities	1,848	5,358	1,694	314.86	190.18
Investing Cash Flow	1,234	4,739	1,199	19.33	35.86
Short-Term Debt Issued	562.99	2,203	486.32	524.06	86.39
Long-Term Debt Issued	-	8,891	2,888	-	-
Total Debt Issued	562.99	11,094	3,374	524.06	86.39
Short-Term Debt Repaid	-	-	-	-	-55.52
Long-Term Debt Repaid	-9,566	-4,368	-687.25	-303.85	-9.93
Total Debt Repaid	-9,566	-4,368	-687.25	-303.85	-65.44
Net Debt Issued (Repaid)	-9,003	6,726	2,687	220.21	20.95
Common Dividends Paid	-286.82	-247.12	-320.59	-638.09	-105.57
Other Financing Activities	-	-	-	-0.01	-
Financing Cash Flow	-9,290	6,479	2,366	-417.89	-84.62
Foreign Exchange Rate Adjustments	-1,082	-4,082	-849.28	-913.66	-
Net Cash Flow	-2,039	-4,350	4,979	-2,351	138.11
Free Cash Flow	6,372	-12,112	1,702	-1,394	25.88
Free Cash Flow Growth	-	-	-	-	-91.82%
Free Cash Flow Margin	3.70%	-7.20%	1.21%	-1.64%	0.10%
Free Cash Flow Per Share	10.26	-19.50	2.74	-2.25	0.04
Cash Interest Paid	1,120	1,901	602.88	138.21	9.22
Cash Income Tax Paid	1,744	1,631	1,432	998.82	283.83
Levered Free Cash Flow	617.03	-2,052	3,651	-3,172	-60.62
Unlevered Free Cash Flow	1,342	-35.99	4,384	-3,077	-52.03
Change in Working Capital	9,347	-11,682	2,725	-1,781	-617.48

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