IST:TUREX 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	608.94	283.84	674.55	22.86	52.34
Depreciation & Amortization	810.52	671.31	265.29	96.01	33.82
Asset Writedown & Restructuring Costs	-128.27	-93.61	-9.63	-4.72	-4.4
Loss (Gain) From Sale of Investments	-	-	-	-2.48	-0.29
Loss (Gain) on Equity Investments	18.05	4.72	-2.62	-	0.04
Provision & Write-off of Bad Debts	-	-	-	-	1.22
Other Operating Activities	576.31	344.18	9.78	-0.51	9.69
Change in Accounts Receivable	-503.92	-455.36	-130.66	-149.24	-26.91
Change in Inventory	-28.74	-74.58	41	-11.63	-2.79
Change in Accounts Payable	165.01	283.97	-12.12	147.48	9.7
Change in Unearned Revenue	53.9	25.5	-41.32	-	-
Change in Other Net Operating Assets	114	-69.54	-34.72	76.24	11.66
Operating Cash Flow	1,686	920.42	759.56	174.02	84.15
Operating Cash Flow Growth	83.16%	21.18%	336.49%	106.79%	20.87%
Capital Expenditures	-1,475	-1,268	-993.4	-239.89	-102.18
Sale of Property, Plant & Equipment	555.88	601.11	154.45	34.28	29.6
Sale (Purchase) of Real Estate	-	-39.99	-	-22.59	-43.35
Investment in Securities	-198.77	-56.24	6.79	-	-0.84
Other Investing Activities	-1.36	-50.29	-14.71	-2.71	-0.65
Investing Cash Flow	-1,119	-813.07	-846.87	-230.91	-117.42
Long-Term Debt Issued	80.86	184.93	242.3	26.02	23.22
Long-Term Debt Repaid	-454.5	-	-3.59	-	-55.73
Net Debt Issued (Repaid)	-373.63	184.93	238.71	26.02	-32.51
Issuance of Common Stock	-	-	-	-	100.16
Repurchase of Common Stock	-	-	-	-	-5
Other Financing Activities	-141.64	-172.42	-70.64	-34.37	2.67
Financing Cash Flow	-515.27	12.51	168.07	-8.36	65.32
Miscellaneous Cash Flow Adjustments	-78	-65.07	-	-	-
Net Cash Flow	-26.22	54.79	80.75	-65.26	32.06
Free Cash Flow	211.3	-347.23	-233.84	-65.87	-18.02
Free Cash Flow Margin	2.67%	-5.00%	-4.89%	-2.71%	-3.05%
Free Cash Flow Per Share	0.21	-0.32	-0.22	-0.06	-0.02
Cash Interest Paid	260.59	268.55	92.81	44.05	11.76
Cash Income Tax Paid	86.41	15.64	-	-	13.22
Levered Free Cash Flow	-181.81	-574.68	-511.77	-24.7	-38.32
Unlevered Free Cash Flow	4.48	-359.33	-438.69	5.08	-30.67
Change in Working Capital	-199.75	-290.01	-177.82	62.85	-8.34

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