IST:TEZOL 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	183.15	190.72	37.85	681.43	255.05
Depreciation & Amortization	239.26	222.53	118.52	75.89	12.2
Loss (Gain) From Sale of Assets	3.86	-4.02	-2.81	-6.19	-3.57
Loss (Gain) From Sale of Investments	-	-1.47	-0.04	-	-
Provision & Write-off of Bad Debts	18.01	15.43	13.98	10.67	-
Other Operating Activities	119.5	298.08	258.98	200.56	66.89
Change in Accounts Receivable	152.28	-755.46	53.82	-667.73	-98.81
Change in Inventory	-378.15	626.6	-197.98	-160.79	-33.81
Change in Accounts Payable	593.66	-11.38	392.56	233.25	68.86
Change in Other Net Operating Assets	2.59	-179.83	-36.28	-111	-1.44
Operating Cash Flow	934.15	401.2	638.61	256.09	265.36
Operating Cash Flow Growth	132.84%	-37.18%	149.37%	-3.49%	-
Capital Expenditures	-87.35	-423.63	-385.69	-400.53	-31.58
Sale of Property, Plant & Equipment	46.9	4.02	2.86	11.21	3.87
Investment in Securities	311.48	-396.68	-38.7	-	7.73
Other Investing Activities	282.21	479.85	-73.15	35.51	-25.16
Investing Cash Flow	553.24	-336.45	-494.67	-353.8	-45.14
Long-Term Debt Issued	0.42	530.76	395.59	444.72	307.44
Long-Term Debt Repaid	-533.92	-352.33	-455.92	-610.03	-116.35
Net Debt Issued (Repaid)	-533.5	178.43	-60.34	-165.31	191.1
Common Dividends Paid	-56.86	-53.03	-	-122.59	-
Other Financing Activities	-24.71	-247.76	-43.88	-97.01	-28.21
Financing Cash Flow	-615.07	-122.36	-104.22	-384.91	162.89
Foreign Exchange Rate Adjustments	22.98	3.73	3.34	2.25	-
Miscellaneous Cash Flow Adjustments	-155.31	-71.4	-125.29	-493.27	-
Net Cash Flow	740	-125.28	-82.24	-973.65	383.1
Free Cash Flow	846.8	-22.43	252.92	-144.44	233.78
Free Cash Flow Margin	15.15%	-0.34%	4.80%	-3.40%	26.62%
Free Cash Flow Per Share	1.70	-0.04	0.51	-0.29	0.47
Cash Interest Paid	24.71	247.76	43.88	97.01	14.35
Cash Income Tax Paid	160.21	97.5	306.87	27.5	11.26
Levered Free Cash Flow	898.16	-617.22	63.73	-1,177	-
Unlevered Free Cash Flow	913.6	-464.6	84.89	-1,113	-
Change in Working Capital	370.38	-320.07	212.13	-706.27	-65.21

Source: S&P Global Market Intelligence. Standard template. Financial Sources.