Türk Tuborg Bira ve Malt Sanayii A.S. (IST:TBORG)
Turkey · Delayed Price · Currency is TRY 133.00
-1.40 (-1.04%)
Last updated: Aug 11, 2026, 11:34 AM GMT+3
IST:TBORG Cash Flow Statement
Financials in millions TRY. Fiscal year is January - December.
Millions TRY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 | 2,960 | 3,376 | 5,177 | 1,489 | 1,026 | 1,204 |
Depreciation & Amortization | 4,624 | 4,556 | 4,200 | 3,359 | 1,796 | 356.95 |
Loss (Gain) From Sale of Assets | -67.44 | -67.03 | -141.66 | -64.61 | -22.32 | -8.25 |
Loss (Gain) From Sale of Investments | - | - | - | - | -153.59 | -26.52 |
Provision & Write-off of Bad Debts | 81.31 | 79.62 | 33.31 | 10.55 | -8 | -2.92 |
Other Operating Activities | -503.39 | 27.46 | -472.63 | -1,428 | 256.77 | -384.81 |
Change in Accounts Receivable | -2,395 | -4,807 | -3,856 | -2,339 | -1,876 | -327.13 |
Change in Inventory | 10.92 | -1,835 | 309.46 | 536.31 | -1,010 | -250.51 |
Change in Accounts Payable | -520.04 | 1,531 | 331.72 | 1,449 | 1,409 | 120.55 |
Change in Unearned Revenue | 0.04 | -0.02 | -15.84 | -46.62 | 39.64 | 27.15 |
Change in Other Net Operating Assets | 1,592 | 1,179 | 2,327 | 1,654 | 2,103 | 150.21 |
Operating Cash Flow | 5,782 | 4,040 | 7,892 | 4,620 | 3,562 | 858.95 |
Operating Cash Flow Growth | -8.45% | -48.81% | 70.83% | 29.71% | 314.66% | -6.19% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Capital Expenditures | -3,946 | -4,386 | -4,115 | -4,257 | -2,563 | -540.41 |
Sale of Property, Plant & Equipment | 136.88 | 130.25 | 267.19 | 100.07 | 32.38 | 11.44 |
Cash Acquisitions | -1,578 | -1,578 | - | - | - | - |
Sale (Purchase) of Intangibles | -19.65 | -21.83 | -29.12 | -6.3 | -9.09 | -1.74 |
Sale (Purchase) of Real Estate | - | - | - | - | - | -0.08 |
Investment in Securities | - | - | - | -0.04 | 212.06 | 113.34 |
Other Investing Activities | 1,848 | 2,360 | 3,511 | 550.29 | 324 | 70.85 |
Investing Cash Flow | -3,559 | -3,496 | -366.11 | -3,613 | -2,004 | -346.6 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Short-Term Debt Issued | - | 51,627 | 22,023 | 10,366 | 11,590 | 7,795 |
Total Debt Issued | 49,454 | 51,627 | 22,023 | 10,366 | 11,590 | 7,795 |
Short-Term Debt Repaid | - | -47,744 | -24,297 | -7,722 | -9,659 | -8,165 |
Long-Term Debt Repaid | - | -276.66 | -232.41 | -104.73 | -69.31 | -34.17 |
Total Debt Repaid | -44,670 | -48,021 | -24,529 | -7,827 | -9,728 | -8,199 |
Net Debt Issued (Repaid) | 4,784 | 3,607 | -2,506 | 2,539 | 1,862 | -404.95 |
Common Dividends Paid | -2,775 | -2,775 | -1,576 | - | -1,465 | -103.23 |
Other Financing Activities | -840.47 | -910.43 | -336.19 | -249.76 | -201.22 | -6.19 |
Financing Cash Flow | 1,168 | -79.05 | -4,417 | 2,290 | 195.95 | -514.36 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Foreign Exchange Rate Adjustments | 32.05 | 15.47 | -221.68 | 832.33 | 354.95 | 438.01 |
Miscellaneous Cash Flow Adjustments | -2,058 | -2,236 | -2,922 | -2,030 | -2,506 | - |
Net Cash Flow | 1,365 | -1,755 | -35.3 | 2,099 | -397.55 | 436.01 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Free Cash Flow | 1,836 | -346.43 | 3,777 | 363.21 | 998.56 | 318.54 |
Free Cash Flow Growth | -8.34% | - | 940.01% | -63.63% | 213.48% | -41.46% |
Free Cash Flow Margin | 4.50% | -0.85% | 9.57% | 1.47% | 6.59% | 8.67% |
Free Cash Flow Per Share | 5.69 | -1.07 | 11.71 | 1.13 | 3.10 | 0.99 |
Levered Free Cash Flow | 1,423 | 365.17 | 3,964 | 1,261 | -417.04 | 310.71 |
Unlevered Free Cash Flow | 2,096 | 990.15 | 4,148 | 1,411 | -273.34 | 329.21 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Cash Interest Paid | 840.47 | 910.43 | 336.19 | 249.76 | 201.22 | 6.19 |
Cash Income Tax Paid | 2,853 | 2,783 | 1,726 | 801.96 | 798.6 | 231.13 |
Change in Working Capital | -1,312 | -3,932 | -903.49 | 1,254 | 666.27 | -279.73 |