IST:ULUSE 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
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
Net Income	-989.33	-723.06	-658.2	-92.4	-74.41	7.52
Depreciation & Amortization	67.05	148.38	161.62	110.01	16.22	14.42
Other Amortization	1.32	1.32	1.27	2.39	0.49	-
Loss (Gain) From Sale of Assets	-1.25	-1.25	-	-	-	-7.44
Provision & Write-off of Bad Debts	37.81	10.5	1.83	11.42	30.33	-3.32
Other Operating Activities	670.22	-40.2	-50.96	-233.82	8.87	16.62
Change in Accounts Receivable	-155.73	175.79	184.75	146.52	-185.1	-74.48
Change in Inventory	-132.5	-60.75	57.31	369.58	-247.56	-36.51
Change in Accounts Payable	293.28	543.48	29.58	-408.66	520.06	11.84
Change in Unearned Revenue	574.86	-11.9	5.87	-33.23	-	-1.51
Change in Other Net Operating Assets	-106.2	-292.42	191.19	19.69	-192.78	55.98
Operating Cash Flow	259.53	-250.11	-75.74	-108.5	-123.86	-16.88
Operating Cash Flow Growth	-57.09%	-	-	-	-	-
Capital Expenditures	-84.28	-45.46	-101.53	-50.53	-63.02	-41.12
Sale of Property, Plant & Equipment	52.53	4.97	16.19	10.19	5.18	7.82
Sale (Purchase) of Intangibles	-11.91	-	-	-	-107.24	-0.07
Investing Cash Flow	-53.43	-40.48	-85.33	-40.33	-165.08	-33.38
Short-Term Debt Issued	-	-	-	-	268.8	4.51
Long-Term Debt Issued	-	712.34	874.21	596.81	-	-
Total Debt Issued	38.83	712.34	874.21	596.81	268.8	4.51
Short-Term Debt Repaid	-	-	-	-352.99	-37.5	-4.68
Long-Term Debt Repaid	-	-415.61	-530.65	-14.74	-4.93	-1.96
Total Debt Repaid	563.87	-415.61	-530.65	-367.72	-42.43	-6.63
Net Debt Issued (Repaid)	602.7	296.73	343.56	229.09	226.37	-2.13
Other Financing Activities	-25.13	-194.96	36.71	3.59	3.49	-0.15
Financing Cash Flow	577.58	101.78	380.27	232.68	229.86	-2.28
Foreign Exchange Rate Adjustments	139.78	138.18	85.42	-17.57	-9.6	-
Miscellaneous Cash Flow Adjustments	-850.19	-136.26	-96.44	-	-	-
Net Cash Flow	73.26	-186.89	208.17	66.27	-68.68	-52.54
Free Cash Flow	175.25	-295.57	-177.27	-159.03	-186.88	-58
Free Cash Flow Growth	-64.88%	-	-	-	-	-
Free Cash Flow Margin	3.86%	-5.97%	-2.84%	-3.74%	-19.56%	-8.78%
Free Cash Flow Per Share	2.19	-3.69	-2.22	-1.99	-2.34	-0.72
Cash Interest Paid	57.26	117.47	28.26	2.54	-	0.15
Cash Income Tax Paid	55.57	0.13	-	-	-	3.64
Levered Free Cash Flow	-628.34	-21.92	-60.86	-303.4	-268.1	-18.65
Unlevered Free Cash Flow	-335.43	59.76	87.24	-178.33	-259.45	-18.35
Change in Working Capital	473.7	354.2	468.7	93.89	-105.38	-44.67

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.