IST:SNPAM 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	-338.21	114.19	160.88	-93.48	85.67
Depreciation & Amortization	111.04	86.33	49.61	35.56	7.38
Loss (Gain) From Sale of Assets	-0.08	-3.45	-	-3.63	-
Asset Writedown & Restructuring Costs	-	-	-	0.02	-
Loss (Gain) on Equity Investments	-	-	-	-26.84	-19.14
Provision & Write-off of Bad Debts	4.6	-1.92	-1.81	4.65	0.08
Other Operating Activities	644.3	55.95	-66.8	134.61	2.05
Change in Accounts Receivable	-11.42	-85.28	-47.35	36.84	-9
Change in Inventory	-64.81	-4.19	-11.23	-6.71	-9.32
Change in Accounts Payable	39.12	15.02	-23.18	9.75	1.35
Change in Unearned Revenue	-63.09	76.16	4.51	-	-
Change in Other Net Operating Assets	14.61	32.02	142.54	-110.27	-5.5
Operating Cash Flow	336.07	284.84	207.17	-19.49	53.58
Operating Cash Flow Growth	17.99%	37.49%	-	-	455.43%
Capital Expenditures	-102.47	-70.68	-284.39	-7.03	-8.22
Sale of Property, Plant & Equipment	0.08	19.04	-	2.16	0.85
Cash Acquisitions	-299.59	-202.53	-	-	-
Divestitures	-	-	-178.09	-	-
Sale (Purchase) of Intangibles	-	-1.02	-	-	-
Investment in Securities	-	-	-	-18.07	0.64
Other Investing Activities	24.86	19.38	-	3.93	-
Investing Cash Flow	-377.11	-235.81	-462.49	-19.01	-6.73
Long-Term Debt Issued	-	-	-	71.73	8.99
Total Debt Issued	-	-	-	71.73	8.99
Long-Term Debt Repaid	-	-61.33	-104.14	-31.16	-15.29
Total Debt Repaid	-	-61.33	-104.14	-31.16	-15.29
Net Debt Issued (Repaid)	-	-61.33	-104.14	40.57	-6.29
Issuance of Common Stock	-	-	187.69	-	-
Other Financing Activities	-	-15.17	-	-	-26.17
Financing Cash Flow	-	-76.49	83.55	40.57	-32.46
Foreign Exchange Rate Adjustments	-	-	-	40.37	-
Miscellaneous Cash Flow Adjustments	17.95	33.14	83.03	-36.22	-
Net Cash Flow	-23.1	5.67	-88.73	6.22	14.39
Free Cash Flow	233.6	214.15	-77.22	-26.52	45.36
Free Cash Flow Growth	9.08%	-	-	-	532.08%
Free Cash Flow Margin	27.36%	20.81%	-10.18%	-4.06%	27.31%
Free Cash Flow Per Share	0.60	0.82	-0.30	-0.10	0.17
Cash Interest Paid	-	15.17	-	5.66	-
Cash Income Tax Paid	-	-0.66	6.77	17.86	-
Levered Free Cash Flow	-20.04	105.41	-259.42	-100.76	18.26
Unlevered Free Cash Flow	-19.17	117.23	-230.79	-98.78	20.16
Change in Working Capital	-85.58	33.73	65.29	-70.39	-22.47

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