IST:A1CAP 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	2020 - 2016
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	2020 - 2016
Net Income	3,824	484.15	-180	652.97	107.85	Upgrade
Depreciation & Amortization, Total	59.17	35.7	18.08	11.31	3.17	Upgrade
Gain (Loss) On Sale of Investments	-3,974	-78.24	16.89	-654.19	-7.05	Upgrade
Change in Accounts Receivable	-2,835	-1,215	-223.51	-965.78	-270.88	Upgrade
Change in Accounts Payable	2,388	1,255	-92.59	330.99	201.8	Upgrade
Change in Other Net Operating Assets	-1,231	-156.23	22.65	-6.05	-12.32	Upgrade
Other Operating Activities	4,960	2,064	775.04	429.07	51.17	Upgrade
Operating Cash Flow	2,732	1,217	301.06	57.98	35.95	Upgrade
Capital Expenditures	-12.01	-146.03	-35.34	-18.62	-26.36	Upgrade
Sale (Purchase) of Intangibles	-3.2	-0.49	-4.94	-6	-	Upgrade
Investing Cash Flow	-15.21	-135.57	-28.66	-24.62	-26.09	Upgrade
Short-Term Debt Issued	-	-	-	1,320	299.31	Upgrade
Long-Term Debt Issued	-	949.47	102.44	128.91	17.74	Upgrade
Total Debt Issued	-	949.47	102.44	1,449	317.05	Upgrade
Short-Term Debt Repaid	-	-	-	-762.1	-159.77	Upgrade
Long-Term Debt Repaid	-343.18	-	-985.23	-12.35	-66	Upgrade
Total Debt Repaid	-343.18	-	-985.23	-774.45	-225.76	Upgrade
Net Debt Issued (Repaid)	-343.18	949.47	-882.79	674.91	91.29	Upgrade
Issuance of Common Stock	-	-	1,703	-	50	Upgrade
Other Financing Activities	-1,788	-1,547	-401.17	-245.13	-29.17	Upgrade
Financing Cash Flow	-2,131	-597.8	419.46	429.78	112.12	Upgrade
Net Cash Flow	245.52	58.27	188.15	226.33	121.98	Upgrade
Free Cash Flow	2,720	1,071	265.72	39.36	9.59	Upgrade
Free Cash Flow Growth	153.98%	303.03%	575.08%	310.51%	-	Upgrade
Free Cash Flow Margin	10.08%	2.04%	0.97%	0.13%	0.15%	Upgrade
Free Cash Flow Per Share	4.03	1.59	0.39	0.08	0.02	Upgrade
Cash Interest Paid	2,081	1,874	533.76	258.12	34.72	Upgrade
Cash Income Tax Paid	737.14	666.64	603.58	48.82	32.33	Upgrade

Source: S&P Capital IQ. Capital Markets template. Financial Sources.