IST:ZERGY Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	276.1	57.69	-313.79	134.45
Depreciation & Amortization	1.06	0.84	-	-
Gain (Loss) on Sale of Assets	-0.57	-0.57	-	-
Change in Accounts Receivable	260.93	187.98	-760.31	-
Change in Accounts Payable	406.19	513.2	2.33	0.64
Change in Other Net Operating Assets	558.08	166.98	-247.44	-1,277
Other Operating Activities	-117.46	-25.06	-7.49	63.84
Operating Cash Flow	-1,143	-698.69	-796.58	36.86
Acquisition of Real Estate Assets	-5.37	-6.7	-	-0.03
Net Sale / Acq. of Real Estate Assets	-3.69	-6.7	-	-0.03
Investment in Marketable & Equity Securities	-211.75	-1,025	0.02	-
Other Investing Activities	6.96	5.93	2.44	2.23
Investing Cash Flow	-208.47	-1,026	2.45	2.2
Long-Term Debt Issued	-	2,075	767.37	-
Long-Term Debt Repaid	-	-1,432	-318.19	-342.97
Net Debt Issued (Repaid)	317.33	643.44	449.18	-342.97
Issuance of Common Stock	1,469	1,469	460.48	385.27
Other Financing Activities	-441.9	-379.7	-170.72	-
Miscellaneous Cash Flow Adjustments	-1.6	-0.85	-26.1	-
Net Cash Flow	-9.76	7.5	-81.29	81.35
Cash Interest Paid	441.9	379.7	170.72	-
Cash Income Tax Paid	0.43	0.2	-0.14	0.2
Levered Free Cash Flow	-	-508	-707.91	-
Unlevered Free Cash Flow	-	-507.94	-707.91	-
Change in Working Capital	-1,302	-731.6	-475.3	-161.43