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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	8,366	7,730	11,272	18,248	16,366	5,307
Depreciation & Amortization	117.78	125.32	127.93	107.58	23.85	16.99
Gain (Loss) on Sale of Assets	-	-	4,744	-101.6	-139.42	3.51
Asset Writedown	-1,959	-1,959	-6,284	-11,175	-9,761	-5,448
Income (Loss) on Equity Investments	-1,113	-1,089	-157.42	-909.24	-347.66	-143.78
Change in Accounts Receivable	136.56	6.2	650.37	-1,614	-855.92	-125.17
Change in Accounts Payable	327.59	23.06	-15.34	466.23	54.85	17.93
Change in Other Net Operating Assets	1,151	-4,732	-13,752	-2,932	-74.56	-19.14
Other Operating Activities	7,006	5,627	-1,031	-922.88	-2,429	1,200
Operating Cash Flow	13,320	5,039	-7,314	4,449	3,907	1,131
Operating Cash Flow Growth	-	-	-	13.86%	245.53%	23.07%
Acquisition of Real Estate Assets	-497.4	-414.36	-461.35	-309.24	-100.49	-48.95
Sale of Real Estate Assets	18.82	18.82	19,010	373.09	258.66	-
Net Sale / Acq. of Real Estate Assets	-478.58	-395.54	18,549	63.86	158.17	-48.95
Cash Acquisition	-17,850	-	-	-	-	-
Investment in Marketable & Equity Securities	103.6	-	-	-	-	-
Other Investing Activities	441.82	441.82	317.8	181.32	104.18	34.15
Investing Cash Flow	-17,783	46.28	18,866	245.17	262.35	-14.8
Long-Term Debt Issued	-	-	-	3,065	3,793	1,655
Long-Term Debt Repaid	-	-1,030	-2,475	-5,320	-6,048	-2,246
Net Debt Issued (Repaid)	10,775	-1,030	-2,475	-2,255	-2,255	-591.04
Common Dividends Paid	-4,420	-4,420	-4,157	-432.53	-	-
Other Financing Activities	4,441	5,789	4,710	-277.77	-808.17	-421.91
Foreign Exchange Rate Adjustments	-	-	-	-	-260.59	-
Miscellaneous Cash Flow Adjustments	-3,626	-2,923	-1,239	-861.83	-	-
Net Cash Flow	2,707	2,501	8,391	866.44	846.03	103.07
Cash Interest Paid	1,100	1,100	1,189	1,147	985.34	468.3
Levered Free Cash Flow	6,830	7,449	4,966	986.17	-1,747	619.15
Unlevered Free Cash Flow	7,264	7,919	5,714	1,956	-1,059	969.87
Change in Working Capital	880.1	-5,426	-15,984	-799.33	194.24	197.54

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