Verusa Holding A.S. 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	-293.21	583.72	401.69	4.5	192.99
Depreciation & Amortization	129.97	89.34	49.63	22.42	3.78
Loss (Gain) on Sale of Investments	-1,005	-1,011	-593.08	33.23	-365.06
Loss (Gain) on Equity Investments	60.4	-48.81	-43.34	-39.99	-6.54
Asset Writedown	210.78	375.9	125.56	-21.15	-
Change in Accounts Receivable	55.78	-303.53	-72.94	9.34	-22.17
Change in Inventory	-9.04	90.25	-31.13	-48.61	-21.43
Change in Accounts Payable	-29.67	53.74	88	13.34	15.28
Change in Other Net Operating Assets	31.53	-13.13	-30.5	-82.29	-18.11
Other Operating Activities	660.85	60.24	-1.54	199.52	207.98
Operating Cash Flow	-108.1	-123.03	-107.66	90.31	-13
Capital Expenditures	-32.16	-181.28	-353.82	-53.06	-24.2
Sale of Property, Plant & Equipment	-	-	0.04	-	0
Divestitures	-20.03	-198.59	196.75	1.16	247.28
Sale (Purchase) of Intangibles	-1.53	-1.08	-0.04	-	-0.19
Investment in Securities	-49.97	573.6	1,292	49.49	-26.64
Investing Cash Flow	-103.68	192.65	1,135	-2.42	195.92
Long-Term Debt Issued	847.78	224.04	427.06	318.59	-
Long-Term Debt Repaid	-148.3	-364.11	-282.19	-37.62	-19.09
Net Debt Issued (Repaid)	699.48	-140.06	144.87	280.97	-19.09
Repurchase of Common Stock	-11.49	-181.97	-389.1	-157.84	-
Common Dividends Paid	-	-34.08	-6.99	-5.88	-1.4
Other Financing Activities	-403.1	-226.81	-112.1	-161.79	-172.92
Financing Cash Flow	284.89	-582.93	-363.32	-44.54	-193.42
Miscellaneous Cash Flow Adjustments	-59.02	-18.21	-292.37	-29.13	-
Net Cash Flow	14.08	-531.52	371.97	14.23	-10.49
Free Cash Flow	-140.26	-304.31	-461.48	37.25	-37.2
Free Cash Flow Margin	-18.42%	-20.81%	-52.01%	5.32%	-30.46%
Free Cash Flow Per Share	-2.00	-4.35	-6.59	0.53	-0.53
Cash Interest Paid	403.1	220.26	103.01	48.32	25.43
Cash Income Tax Paid	90.19	71.13	148.96	33.94	7.83
Levered Free Cash Flow	-23.47	-467.86	-457.92	-44.09	-119.79
Unlevered Free Cash Flow	228.47	-330.2	-393.53	-13.89	-103.9
Change in Working Capital	48.61	-172.67	-46.57	-108.23	-46.43

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