IST:VRGYO 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-392.28	-424.58	831.97	135.23
Depreciation & Amortization	1.31	1.25	1.76	1.38
Gain (Loss) on Sale of Assets	2.5	-2.16	-1.51	-
Asset Writedown	-14.46	-14.46	-158.53	-93.92
Change in Accounts Receivable	-130.96	-1.85	-16.18	-41.64
Change in Accounts Payable	-1.54	-1.54	-41.3	4.2
Change in Other Net Operating Assets	548.32	-435.51	-829.33	10.72
Other Operating Activities	258.91	276.94	-701.49	25.97
Operating Cash Flow	-111.82	-729.38	-866.33	-10.18
Acquisition of Real Estate Assets	-113.25	-0.03	-40.07	-0.08
Sale of Real Estate Assets	-2.52	2.23	1.57	1.34
Net Sale / Acq. of Real Estate Assets	-115.77	2.21	-38.51	1.27
Other Investing Activities	56.38	139.05	53.67	-
Investing Cash Flow	-59.39	141.26	15.16	1.27
Short-Term Debt Issued	-	176.96	-	-
Total Debt Issued	286.14	176.96	-	-
Short-Term Debt Repaid	-	-25.83	-	-
Total Debt Repaid	-233.17	-25.83	-	-
Net Debt Issued (Repaid)	52.97	151.13	-	-
Issuance of Common Stock	3.27	-	1,302	-
Repurchase of Common Stock	-	-12.87	-	-
Other Financing Activities	0.06	-0.8	-0	-
Net Cash Flow	139.45	-450.68	450.38	-8.91
Cash Interest Paid	-	0.8	0	-
Levered Free Cash Flow	-1,670	-3,719	-1,047	-
Unlevered Free Cash Flow	-1,622	-3,716	-1,046	-
Change in Working Capital	32.21	-566.38	-838.54	-78.84

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