IST:TRGYO 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	FY 2020	2015 - 2019
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	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	17,016	8,611	18,248	16,366	5,307	293	Upgrade
Depreciation & Amortization	117.74	97.74	107.58	23.85	16.99	1.97	Upgrade
Gain (Loss) on Sale of Assets	-901.16	3,624	-101.6	-139.42	3.51	-4.37	Upgrade
Asset Writedown	-8,128	-4,801	-11,175	-9,761	-5,448	-693.82	Upgrade
Income (Loss) on Equity Investments	-150.65	-120.27	-909.24	-347.66	-143.78	-42.77	Upgrade
Change in Accounts Receivable	-439.86	496.88	-1,614	-855.92	-125.17	19.38	Upgrade
Change in Accounts Payable	170.38	-11.72	466.23	54.85	17.93	-56.9	Upgrade
Change in Other Net Operating Assets	-3,722	-10,506	-2,932	-74.56	-19.14	78.9	Upgrade
Other Operating Activities	1,213	-797.16	-922.88	-2,429	1,200	1,046	Upgrade
Operating Cash Flow	3,611	-5,597	4,449	3,907	1,131	918.83	Upgrade
Operating Cash Flow Growth	-	-	13.86%	245.53%	23.07%	69.33%	Upgrade
Acquisition of Real Estate Assets	-391.35	-352.46	-309.24	-100.49	-48.95	-186.04	Upgrade
Sale of Real Estate Assets	-3,694	14,523	373.09	258.66	-	7.77	Upgrade
Net Sale / Acq. of Real Estate Assets	-4,085	14,171	63.86	158.17	-48.95	-178.28	Upgrade
Investment in Marketable & Equity Securities	-	-	-	-	-	-29.98	Upgrade
Other Investing Activities	426.46	242.79	181.32	104.18	34.15	34.08	Upgrade
Investing Cash Flow	-3,659	14,414	245.17	262.35	-14.8	-174.18	Upgrade
Long-Term Debt Issued	-	-	3,065	3,793	1,655	1,897	Upgrade
Long-Term Debt Repaid	-	-1,891	-5,320	-6,048	-2,246	-2,613	Upgrade
Net Debt Issued (Repaid)	-453.62	-1,891	-2,255	-2,255	-591.04	-716.44	Upgrade
Common Dividends Paid	-3,414	-3,176	-432.53	-	-	-	Upgrade
Other Financing Activities	4,429	3,598	-277.77	-808.17	-421.91	-618.78	Upgrade
Foreign Exchange Rate Adjustments	-	-	-	-260.59	-	-	Upgrade
Miscellaneous Cash Flow Adjustments	-2,334	-937.61	-861.83	-	-	-	Upgrade
Net Cash Flow	-1,820	6,411	866.44	846.03	103.07	-590.57	Upgrade
Cash Interest Paid	1,049	908.43	1,147	985.34	468.3	660.3	Upgrade
Levered Free Cash Flow	1,480	5,105	986.17	-1,747	619.15	312.98	Upgrade
Unlevered Free Cash Flow	1,924	5,677	1,956	-1,059	969.87	644.86	Upgrade
Change in Working Capital	-5,559	-12,212	-799.33	194.24	197.54	317.57	Upgrade

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