IST:TNZTP 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
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
Net Income	426.64	1,260	1,188	266.13	65.84
Depreciation & Amortization	146.68	194.81	199.95	76.52	11.87
Loss (Gain) From Sale of Assets	1,338	-0.12	-1.96	-0.82	-1.81
Asset Writedown & Restructuring Costs	-1,759	-1,759	-6.56	-55.46	-2.57
Provision & Write-off of Bad Debts	-1.46	0.1	0.14	0.4	2.9
Other Operating Activities	-820	-201.77	-1,090	-33.63	-6.18
Change in Accounts Receivable	-24.25	62.07	-92.03	-25.48	-12.23
Change in Inventory	32.03	45.46	-27.71	-4.38	-14.52
Change in Accounts Payable	-45.09	-104.64	32.92	21.16	32.51
Change in Unearned Revenue	72.49	-27.15	43.55	8.15	0.23
Change in Other Net Operating Assets	0.4	-202.08	276.65	56.42	10.62
Operating Cash Flow	-550.83	-732.02	522.49	227.45	86.86
Operating Cash Flow Growth	-	-	129.72%	161.86%	-
Capital Expenditures	-244.22	-68.51	-180.87	-223.46	-10.68
Sale of Property, Plant & Equipment	81.33	0.09	4.82	9.82	0.45
Sale (Purchase) of Intangibles	0.06	-0.22	-1.07	-0.38	-
Sale (Purchase) of Real Estate	1.24	-3.71	-	-60.44	0.66
Investment in Securities	-	-	3.13	-0.83	-
Other Investing Activities	2,110	2,046	-1,460	-0	8.88
Investing Cash Flow	1,948	1,974	-1,634	-275.29	-0.7
Long-Term Debt Issued	-	145	1,153	58.38	13.3
Long-Term Debt Repaid	-	-1,049	-134.07	-107.93	-47.08
Net Debt Issued (Repaid)	-1,217	-903.89	1,019	-49.55	-33.78
Issuance of Common Stock	162.23	11.61	964.82	-	-
Repurchase of Common Stock	-	-3.32	-88.91	-	-
Common Dividends Paid	-	-	-62.66	-	-
Other Financing Activities	348.94	-589.01	-177.68	59.71	-4.82
Financing Cash Flow	-706	-1,485	1,655	10.16	-38.59
Miscellaneous Cash Flow Adjustments	-379.08	-125.21	-164.93	-187.35	-
Net Cash Flow	312.57	-367.86	378.05	-225.03	47.56
Free Cash Flow	-795.05	-800.54	341.62	3.98	76.17
Free Cash Flow Growth	-	-	8473.06%	-94.77%	-
Free Cash Flow Margin	-30.61%	-36.59%	18.02%	0.37%	24.61%
Free Cash Flow Per Share	-1.99	-2.00	0.85	0.01	0.24
Cash Interest Paid	83.48	326.7	87.23	26.11	4.91
Cash Income Tax Paid	-	-	-	-80.03	-2.35
Levered Free Cash Flow	267.97	-33.98	176.84	-44.35	-
Unlevered Free Cash Flow	332.52	181.63	241.14	-24.24	-
Change in Working Capital	117.9	-226.33	233.38	-25.68	16.8

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