IST:TARKM Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2019
Net Income	-192.37	101.27	-250.01	420.54	27.12	6.62	Upgrade
Depreciation & Amortization	25.3	36.49	33.01	9.58	3.44	2.53	Upgrade
Provision & Write-off of Bad Debts	-	-	-0.14	-	-	-	Upgrade
Other Operating Activities	214.16	-260.54	919.12	116.13	0.48	-0.15	Upgrade
Change in Accounts Receivable	75.1	-93.77	-92.83	-21.93	3.46	-1.9	Upgrade
Change in Inventory	-5.86	285.52	-57.18	-353.44	-197.99	-14.01	Upgrade
Change in Accounts Payable	126.73	77.83	-23.56	25.97	33.33	-6.33	Upgrade
Change in Unearned Revenue	-2.01	-4.66	2.79	-20.35	36.59	5.59	Upgrade
Change in Other Net Operating Assets	390.24	-40.77	-76.68	-98.93	-25.02	-73.17	Upgrade
Operating Cash Flow	631.29	101.36	454.53	77.56	-118.59	-80.8	Upgrade
Operating Cash Flow Growth	114.53%	-77.70%	486.00%	-	-	-	Upgrade
Capital Expenditures	-838.6	-287.84	-162.17	-170.66	-6.21	-2.32	Upgrade
Sale of Property, Plant & Equipment	0.02	-	-	1.17	0.01	-	Upgrade
Sale (Purchase) of Intangibles	-3.45	-1.19	-	-0.98	-0.61	-	Upgrade
Other Investing Activities	-	-	-	-	-	2.25	Upgrade
Investing Cash Flow	-842.02	-289.03	-162.17	-170.47	-6.82	-0.08	Upgrade
Long-Term Debt Issued	-	2.33	-	712.61	171.32	182.96	Upgrade
Long-Term Debt Repaid	-	-36.53	-604.84	-553.99	-29.94	-98.58	Upgrade
Net Debt Issued (Repaid)	182.29	-34.2	-604.84	158.62	141.38	84.38	Upgrade
Issuance of Common Stock	-	-	759.89	-	-	-	Upgrade
Other Financing Activities	-68.78	60.31	-	-	-	-0	Upgrade
Financing Cash Flow	113.51	26.11	155.06	158.62	141.38	84.38	Upgrade
Miscellaneous Cash Flow Adjustments	-38.51	-160.5	-48.41	-33.43	-	0	Upgrade
Net Cash Flow	-135.73	-322.06	399	32.27	15.97	3.5	Upgrade
Free Cash Flow	-207.3	-186.47	292.36	-93.1	-124.8	-83.12	Upgrade
Free Cash Flow Margin	-13.21%	-13.27%	20.35%	-6.68%	-49.54%	-66.94%	Upgrade
Free Cash Flow Per Share	-9.87	-8.88	13.92	-5.82	-7.80	-5.20	Upgrade
Cash Interest Paid	47.08	46.01	3.51	10.14	24.61	6.97	Upgrade
Cash Income Tax Paid	12.58	-3.39	17.88	19.06	1.03	0.01	Upgrade
Levered Free Cash Flow	-526.92	-11.05	-76.66	-591.25	-112.03	-84.16	Upgrade
Unlevered Free Cash Flow	-484.25	30.95	-1.43	-535.82	-96.64	-78.67	Upgrade
Change in Working Capital	584.21	224.14	-247.46	-468.68	-149.64	-89.81	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.