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TAV Havalimanlari Holding A.S. (IST:TAVHL)
Turkey flag Turkey · Delayed Price · Currency is TRY
250.00
-4.50 (-1.77%)
Oct 30, 2026, 6:09 PM GMT+3

IST:TAVHL Cash Flow Statement

Millions TRY. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
8,4072,8166,5587,5301,899671.5
Depreciation & Amortization
10,8878,6055,4283,3101,7791,116
Other Amortization
354.48354.48160.3381.5845.8828.99
Loss (Gain) From Sale of Assets
23.6933.390.493.275.317.22
Asset Writedown & Restructuring Costs
--1,804295.52-178.876.13
Loss (Gain) From Sale of Investments
----1,078--
Loss (Gain) on Equity Investments
1,5172,438-2,178-4,488-826.19341.57
Provision & Write-off of Bad Debts
-----79.24
Other Operating Activities
8,2136,6952,5071,6261,738-1,077
Change in Accounts Receivable
-962.55-1,251143.5931.64-375.74-136.99
Change in Inventory
-1,579-757.4-349.53-97.04-424.3411.31
Change in Accounts Payable
1,650135.83637.81-405.65424.265.54
Change in Other Net Operating Assets
-7,610-3,526-3,496-5,168766.122,463
Operating Cash Flow
20,88415,53111,2111,6354,8373,575
Operating Cash Flow Growth
72.78%38.54%585.51%-66.19%35.28%12260.87%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-10,265-8,280-8,959-5,464-2,304-320.17
Sale of Property, Plant & Equipment
506.669.46197.0652.478.0839.67
Cash Acquisitions
---127.12---4,604
Divestitures
---3,205--
Sale (Purchase) of Intangibles
-1,426-1,288-110.69-51.23-37.1-16.55
Investment in Securities
2,6232,904552.92-927.05-7,266750.77
Other Investing Activities
4,0013,0922,5492,412391.58-2,538
Investing Cash Flow
-4,560-3,503-5,898-772.81-9,137-6,689

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Long-Term Debt Issued
-3,62912,32918,7827,9143,843
Long-Term Debt Repaid
--4,449-14,540-9,292-4,517-6,774
Lease Payments
-1,058-912.58-791.46-291.54-197.58-174.6
Net Debt Issued (Repaid)
19,628-820.24-2,2119,4893,398-2,931
Issuance of Common Stock
----132.36-
Common Dividends Paid
-2,450-----
Other Financing Activities
-22,249-5,508-9,360-2,9313,640-1,635
Financing Cash Flow
-5,071-6,328-11,5716,5587,170-4,565

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
3,7355,4752,0105,182870.82-
Miscellaneous Cash Flow Adjustments
-156.81-124.3-342.83-195.39--
Net Cash Flow
14,83111,050-4,59112,4073,740-7,679

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
10,6197,2512,252-3,8282,5333,255
Free Cash Flow Growth
152.16%222.05%---22.18%-
Free Cash Flow Margin
10.72%8.83%3.80%-11.12%13.84%41.53%
Free Cash Flow Per Share
-19.966.20-10.547.019.01
Levered Free Cash Flow
-8,48723,100-1,604-132.712,635-32.01
Unlevered Free Cash Flow
-243.7127,9412,0732,3803,995815.47
Free Cash Flow After Leases
9,5616,3391,460-4,1202,3363,081

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
2,6475,5954,5302,7481,075763.19
Cash Income Tax Paid
873.921,8782,0311,390459.57181.36
Change in Working Capital
-8,501-5,398-3,064-5,639390.252,403