IST:TSGYO 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	15.62	-29.36	517.37	982.69	124.88
Depreciation & Amortization	2.8	1.99	1.04	0.31	0.09
Other Amortization	0.03	0.03	0.04	0.03	0.01
Asset Writedown	-143.19	-266.78	-485.22	-958.68	-140.12
Income (Loss) on Equity Investments	-33.33	-18.99	-1.41	-6.55	-1.24
Change in Accounts Receivable	-3.3	-2.52	1.33	2.41	-1.83
Change in Accounts Payable	-1.68	24.45	8.87	2.08	0.67
Change in Other Net Operating Assets	-26.33	-149.61	-5.94	8.1	3.44
Other Operating Activities	240.67	437.4	10.6	12.2	27.54
Operating Cash Flow	56.45	-0.8	46.72	42.74	13.88
Operating Cash Flow Growth	-	-	9.30%	208.01%	-54.47%
Acquisition of Real Estate Assets	-31.19	-109.31	-1.43	-0.89	-0.1
Sale of Real Estate Assets	-	0.06	-	-	1.05
Net Sale / Acq. of Real Estate Assets	-31.19	-109.26	-1.43	-0.89	0.94
Investing Cash Flow	-31.24	-109.26	-1.53	-0.91	0.94
Long-Term Debt Issued	-	166.89	-	-	-
Long-Term Debt Repaid	-	-33.92	-	-	-150.58
Net Debt Issued (Repaid)	-	132.96	-	-	-150.58
Issuance of Common Stock	-	-	-	-	150.27
Other Financing Activities	-90.25	-	24.46	-	-14.75
Foreign Exchange Rate Adjustments	0	0.01	0.6	0.07	-0.07
Miscellaneous Cash Flow Adjustments	-5.91	-35.62	-39.43	-19.66	-
Net Cash Flow	-70.95	-12.71	30.82	22.25	-0.3
Cash Interest Paid	90.25	-	-	-	14.75
Levered Free Cash Flow	37.03	-122.5	24.96	26.69	1.27
Unlevered Free Cash Flow	103.08	-89.5	25	26.69	9.31
Change in Working Capital	-31.31	-127.68	4.26	12.6	2.28

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