IST:TRENJ 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	705.7	-1,295	259	-943	660.51
Depreciation & Amortization	1,165	1,604	1,169	1,357	373.85
Other Amortization	-	187.15	68.04	-	-
Loss (Gain) From Sale of Assets	362.98	-43.81	-1,361	-39.14	-81.3
Asset Writedown & Restructuring Costs	54.38	180.01	-	-	3.31
Loss (Gain) From Sale of Investments	-3,720	-5,212	-8,081	-2,610	-
Provision & Write-off of Bad Debts	0.6	7.12	17.38	29.83	9.64
Other Operating Activities	7,318	2,528	7,529	5,343	1,596
Change in Accounts Receivable	77.39	38.41	-33.38	-27.87	-16.24
Change in Inventory	1,577	-1,676	-203.75	-413.04	-40.93
Change in Accounts Payable	85.2	-324.75	63.72	-300.51	105.98
Change in Unearned Revenue	-40.33	26.91	5.77	-0.15	0.81
Change in Other Net Operating Assets	684.21	5,314	-974.24	-163.89	-190.43
Operating Cash Flow	8,270	1,335	-1,542	2,233	2,421
Operating Cash Flow Growth	519.63%	-	-	-7.80%	80.29%
Capital Expenditures	-7,323	-5,758	-1,829	-1,006	-615.87
Sale of Property, Plant & Equipment	1,358	212.07	386.22	273.13	0.2
Divestitures	-	2,291	-	-	-
Sale (Purchase) of Intangibles	-12.72	-2.9	-19.97	-5.9	-4.61
Sale (Purchase) of Real Estate	-	-1,848	1,560	-0.03	-2.5
Investment in Securities	1,143	4,697	7,758	-17,192	18.98
Other Investing Activities	2,904	1,590	-1,438	496.3	1,156
Investing Cash Flow	-1,932	1,181	6,417	-17,435	551.71
Short-Term Debt Issued	112	26.18	504.11	-	-
Total Debt Issued	112	26.18	504.11	-	-
Short-Term Debt Repaid	-20	-501.76	-	-	-
Long-Term Debt Repaid	-26.08	-13.21	-28.26	-44.66	-
Total Debt Repaid	-46.08	-514.96	-28.26	-44.66	-
Net Debt Issued (Repaid)	65.92	-488.79	475.85	-44.66	-
Common Dividends Paid	-	-	-1,210	-2,659	-
Other Financing Activities	-13.79	-1,727	-3,029	-	-
Financing Cash Flow	52.13	-2,216	-3,763	-2,704	-
Miscellaneous Cash Flow Adjustments	-1,345	-1,020	-812.27	-5,969	-
Net Cash Flow	5,046	-720.85	299.87	-23,875	2,973
Free Cash Flow	946.65	-4,423	-3,371	1,226	1,806
Free Cash Flow Growth	-	-	-	-32.09%	73.45%
Free Cash Flow Margin	5.34%	-36.52%	-27.13%	10.56%	43.44%
Free Cash Flow Per Share	3.65	-17.03	-12.98	4.72	6.95
Cash Interest Paid	13.79	-	-	-	-
Cash Income Tax Paid	570.78	979.9	979.3	2,417	689.09
Levered Free Cash Flow	-639.81	-5,625	-1,507	1,879	1,605
Unlevered Free Cash Flow	-619.58	-5,430	-1,378	2,050	1,612
Change in Working Capital	2,383	3,379	-1,142	-905.46	-140.82

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