IST:TNZTP 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	695.68	1,649	1,188	266.13	65.84
Depreciation & Amortization	198.08	254.99	199.95	76.52	11.87
Loss (Gain) From Sale of Assets	-9.42	-0.16	-1.96	-0.82	-1.81
Asset Writedown & Restructuring Costs	-1.3	-2,302	-6.56	-55.46	-2.57
Provision & Write-off of Bad Debts	0	0.13	0.14	0.4	2.9
Other Operating Activities	-223.51	-264.1	-1,090	-33.63	-6.18
Change in Accounts Receivable	-8.1	81.25	-92.03	-25.48	-12.23
Change in Inventory	16.89	59.5	-27.71	-4.38	-14.52
Change in Accounts Payable	-6.17	-136.96	32.92	21.16	32.51
Change in Unearned Revenue	-27.31	-35.54	43.55	8.15	0.23
Change in Other Net Operating Assets	-56.46	-264.5	276.65	56.42	10.62
Operating Cash Flow	578.4	-958.16	522.49	227.45	86.86
Operating Cash Flow Growth	-	-	129.72%	161.86%	-
Capital Expenditures	-273.8	-89.68	-180.87	-223.46	-10.68
Sale of Property, Plant & Equipment	89.26	0.12	4.82	9.82	0.45
Sale (Purchase) of Intangibles	-5.05	-0.29	-1.07	-0.38	-
Sale (Purchase) of Real Estate	-	-4.86	-	-60.44	0.66
Investment in Securities	-	-	3.13	-0.83	-
Other Investing Activities	1,817	2,678	-1,460	-0	8.88
Investing Cash Flow	1,627	2,584	-1,634	-275.29	-0.7
Long-Term Debt Issued	124.89	189.79	1,153	58.38	13.3
Long-Term Debt Repaid	-551.79	-1,373	-134.07	-107.93	-47.08
Net Debt Issued (Repaid)	-426.9	-1,183	1,019	-49.55	-33.78
Issuance of Common Stock	139.21	15.2	964.82	-	-
Repurchase of Common Stock	-	-4.35	-88.91	-	-
Common Dividends Paid	-	-	-62.66	-	-
Other Financing Activities	-580.05	-770.98	-177.68	59.71	-4.82
Financing Cash Flow	-867.74	-1,943	1,655	10.16	-38.59
Miscellaneous Cash Flow Adjustments	-1,022	-163.89	-164.93	-187.35	-
Net Cash Flow	316.08	-481.51	378.05	-225.03	47.56
Free Cash Flow	304.61	-1,048	341.62	3.98	76.17
Free Cash Flow Growth	-	-	8473.06%	-94.77%	-
Free Cash Flow Margin	8.88%	-36.59%	18.02%	0.37%	24.61%
Free Cash Flow Per Share	0.76	-2.62	0.85	0.01	0.24
Cash Interest Paid	326.92	427.62	87.23	26.11	4.91
Cash Income Tax Paid	-	-	-	-80.03	-2.35
Levered Free Cash Flow	321.77	-15.87	176.84	-44.35	-
Unlevered Free Cash Flow	542.03	266.35	241.14	-24.24	-
Change in Working Capital	-81.14	-296.25	233.38	-25.68	16.8

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