IST:TOASO 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	8,354	6,834	21,777	9,374	3,281
Depreciation & Amortization	4,825	3,795	2,853	3,232	496.61
Other Amortization	2,656	4,320	2,822	4,061	702.51
Loss (Gain) From Sale of Assets	-1,022	-490.23	-190.59	-138.45	-38.17
Asset Writedown & Restructuring Costs	-16.51	-26.57	18.7	25.9	-0.29
Provision & Write-off of Bad Debts	1.66	4.92	-0.13	0.85	0.03
Other Operating Activities	-5,010	-941.67	-4,263	-4,928	925.7
Change in Accounts Receivable	-12,291	-2,986	-4,645	2,200	513.94
Change in Inventory	3,214	7,144	-5,769	1,027	-850.45
Change in Accounts Payable	23,570	-16,036	6,389	2,268	760.15
Change in Unearned Revenue	388.41	-121.31	205.36	-157.69	53.39
Change in Other Net Operating Assets	-22,468	-11,423	-6,195	2,981	-3,177
Operating Cash Flow	2,655	-9,630	13,071	19,959	2,680
Operating Cash Flow Growth	-	-	-34.51%	644.78%	69.14%
Capital Expenditures	-8,724	-8,973	-3,263	-652.36	-1,122
Sale of Property, Plant & Equipment	1,831	1,377	296.15	186.49	-
Cash Acquisitions	-13,136	-	-	-	-
Sale (Purchase) of Intangibles	-	-	-	-976.91	59.81
Investment in Securities	-65.02	-29.2	-58.89	0.65	0.76
Other Investing Activities	403.12	-1,164	-812.98	-	300.84
Investing Cash Flow	-19,691	-8,789	-3,838	-1,442	-760.78
Long-Term Debt Issued	32,141	34,524	16,478	9,144	2,913
Long-Term Debt Repaid	-18,186	-15,942	-12,514	-12,650	-4,045
Net Debt Issued (Repaid)	13,955	18,582	3,964	-3,506	-1,131
Common Dividends Paid	-7,136	-16,424	-6,488	-7,438	-1,500
Other Financing Activities	9,375	7,778	4,803	1,116	-110.47
Financing Cash Flow	16,194	9,937	2,279	-9,827	-2,742
Foreign Exchange Rate Adjustments	1,912	1,876	6,427	4,897	791.22
Miscellaneous Cash Flow Adjustments	-6,091	-14,415	-11,240	-5,383	-
Net Cash Flow	-5,020	-21,022	6,699	8,204	-31.28
Free Cash Flow	-6,068	-18,603	9,809	19,307	1,558
Free Cash Flow Growth	-	-	-49.20%	1139.46%	24.51%
Free Cash Flow Margin	-1.83%	-10.99%	5.22%	15.11%	5.10%
Free Cash Flow Per Share	-12.14	-37.21	19.62	38.61	3.12
Cash Interest Paid	-	-	146.68	184.02	110.47
Cash Income Tax Paid	3,196	3,835	5,994	634.95	59.05
Levered Free Cash Flow	-11,275	-23,559	4,369	10,348	791.85
Unlevered Free Cash Flow	-9,781	-23,426	7,258	13,783	1,189
Change in Working Capital	-7,587	-23,422	-10,015	8,320	-2,700

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