IST:TLMAN 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	58.55	138.11	230.05	212.73	61.64
Depreciation & Amortization	161.42	134.9	71.4	38.63	6.71
Other Amortization	-	-	0.04	0.04	0.07
Loss (Gain) From Sale of Investments	-187.48	-192.05	-	-206.41	-26.55
Provision & Write-off of Bad Debts	7.81	-	1.02	-	-
Other Operating Activities	136.78	-14.04	-104.9	5.91	9.27
Change in Accounts Receivable	-37.84	7.55	-16	-5.43	-6.72
Change in Inventory	0.62	1.43	1.33	-1.19	-0.48
Change in Accounts Payable	-45.89	73.89	-40.33	34.08	-4.12
Change in Other Net Operating Assets	-79.93	517.64	-398.84	-67.11	-32.02
Operating Cash Flow	14.04	667.42	-256.22	11.25	7.79
Operating Cash Flow Growth	-97.90%	-	-	44.37%	-62.59%
Capital Expenditures	-59.77	-612.64	-82.59	-232.94	-10.06
Sale (Purchase) of Intangibles	-	-0.09	-	-0.13	-
Investment in Securities	37.16	0.48	94.97	335.78	22.07
Investing Cash Flow	-22.61	-612.24	12.37	102.72	12
Long-Term Debt Issued	3.38	-	180.97	-	-
Long-Term Debt Repaid	-	-88.83	-	-	-1.65
Total Debt Repaid	-	-88.83	-	-	-1.65
Net Debt Issued (Repaid)	3.38	-88.83	180.97	-	-1.65
Common Dividends Paid	-	-	-	-64.16	-20.51
Other Financing Activities	34	24.94	19.62	5.67	4.75
Financing Cash Flow	37.38	-63.89	200.59	-58.49	-17.4
Miscellaneous Cash Flow Adjustments	-0.34	-1.53	-37.35	-4.2	-
Net Cash Flow	28.47	-10.23	-80.61	51.28	2.4
Free Cash Flow	-45.73	54.79	-338.81	-221.69	-2.27
Free Cash Flow Margin	-5.66%	7.07%	-53.12%	-53.64%	-2.43%
Free Cash Flow Per Share	-2.18	2.61	-16.13	-10.56	-0.11
Cash Interest Paid	11.1	16.14	-	0.21	0.14
Cash Income Tax Paid	16.52	68.64	-	41.97	5.93
Levered Free Cash Flow	9.57	0.03	-324.88	-77.43	39.47
Unlevered Free Cash Flow	19.03	10.12	-321.51	-77.3	39.6
Change in Working Capital	-163.04	600.51	-453.83	-39.64	-43.34

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