IST:VAKKO 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	56.99	1,056	2,807	1,680	222.45
Depreciation & Amortization	1,870	1,677	1,215	721.59	145.26
Loss (Gain) From Sale of Assets	-0.5	-0.25	-0.15	-3.84	-0
Asset Writedown & Restructuring Costs	102.1	66.33	4.77	5.87	-
Loss (Gain) From Sale of Investments	-35.32	-	-	-5.58	-
Provision & Write-off of Bad Debts	-	-	-	-	-0
Other Operating Activities	1,703	1,930	1,455	953.73	149.27
Change in Accounts Receivable	-155.44	130.84	-127.14	51.6	-26.37
Change in Inventory	966.61	-182.28	-1,440	-818.72	-65.21
Change in Accounts Payable	-97.31	-354.02	123.08	224.97	130.57
Change in Unearned Revenue	157.42	-239.68	-196.41	177.42	21.39
Change in Income Taxes	-578.28	-393.79	-507.53	-287.67	-27.53
Change in Other Net Operating Assets	50.29	30.38	-203.44	-53.42	-22.07
Operating Cash Flow	4,040	3,721	3,130	2,646	527.74
Operating Cash Flow Growth	8.58%	18.87%	18.29%	401.39%	2252.19%
Capital Expenditures	-561.83	-287.57	-620.1	-271.36	-61.76
Sale of Property, Plant & Equipment	0.5	0.5	0.39	7.12	1.8
Sale (Purchase) of Intangibles	-39.54	-47.22	-46.56	-18.65	-9.05
Sale (Purchase) of Real Estate	-3.03	-19.45	-	-	-
Investment in Securities	-621.84	120.94	-12.03	-94.65	-
Investing Cash Flow	-1,226	-232.81	-678.31	-377.54	-69
Long-Term Debt Issued	324.18	1,454	536.15	611.42	113.11
Long-Term Debt Repaid	-1,756	-2,118	-1,153	-634.81	-340.75
Net Debt Issued (Repaid)	-1,432	-664.24	-616.93	-23.38	-227.63
Common Dividends Paid	-738.98	-615.97	-908.59	-284.73	-81.42
Other Financing Activities	-1,149	-1,366	-892.43	-767.61	-39.48
Financing Cash Flow	-3,320	-2,646	-2,418	-1,076	-348.54
Miscellaneous Cash Flow Adjustments	-453.06	-469.65	-744.3	-346.01	-
Net Cash Flow	-958.38	372.28	-710.45	846.76	110.2
Free Cash Flow	3,478	3,433	2,510	2,375	465.98
Free Cash Flow Growth	1.31%	36.79%	5.70%	409.61%	-
Free Cash Flow Margin	17.52%	17.66%	17.63%	29.92%	27.52%
Free Cash Flow Per Share	21.74	21.46	15.69	14.84	2.91
Cash Interest Paid	839.84	1,001	202.36	117.66	52.35
Cash Income Tax Paid	578.28	393.79	507.53	287.67	27.53
Levered Free Cash Flow	2,093	199.2	-472.83	-388.33	376.08
Unlevered Free Cash Flow	2,489	728.75	-175.53	-230.54	448.03
Change in Working Capital	343.28	-1,009	-2,351	-705.83	10.77

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