IST:BRMEN 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	-34.88	-15.09	-5.71	2.76	-3.13	Upgrade
Depreciation & Amortization	1.75	1.33	1.32	0.95	0.17	Upgrade
Other Amortization	-	-	-	-	0	Upgrade
Provision & Write-off of Bad Debts	-	0.92	-	-	-	Upgrade
Other Operating Activities	20.28	4.05	-0.2	0.52	0.19	Upgrade
Change in Accounts Receivable	-1.98	-13.4	0.23	3.63	-0.81	Upgrade
Change in Inventory	-3.13	-18.06	-21.49	-1.75	-0.01	Upgrade
Change in Accounts Payable	20.58	1.94	29.14	-0.08	0.06	Upgrade
Change in Unearned Revenue	-1.11	-0.4	-0.84	-0.9	-	Upgrade
Change in Other Net Operating Assets	-6.62	29.27	13.88	-7.7	3.5	Upgrade
Operating Cash Flow	-5.12	-9.44	16.33	-2.57	-0.04	Upgrade
Capital Expenditures	-1.32	-2.26	-1.89	-2.4	-0.07	Upgrade
Sale of Property, Plant & Equipment	0.13	-	0.53	0.5	-	Upgrade
Investing Cash Flow	-1.19	-2.26	-1.36	-1.89	-0.07	Upgrade
Short-Term Debt Issued	18.47	-	-	-	0.01	Upgrade
Long-Term Debt Issued	1.76	1.04	-	0.83	-	Upgrade
Total Debt Issued	20.23	1.04	-	0.83	0.01	Upgrade
Long-Term Debt Repaid	-1.45	-0.54	-1.34	-0.08	-	Upgrade
Total Debt Repaid	-1.45	-0.54	-1.34	-0.08	-	Upgrade
Net Debt Issued (Repaid)	18.78	0.5	-1.34	0.75	0.01	Upgrade
Other Financing Activities	-25.34	6.67	-4.95	9.08	-	Upgrade
Financing Cash Flow	-6.56	7.17	-6.3	9.82	0.01	Upgrade
Miscellaneous Cash Flow Adjustments	3.73	-	-	-	-	Upgrade
Net Cash Flow	-9.13	-4.53	8.67	5.36	-0.09	Upgrade
Free Cash Flow	-6.44	-11.7	14.44	-4.97	-0.1	Upgrade
Free Cash Flow Margin	-3.22%	-9.07%	30.49%	-138.43%	-3.28%	Upgrade
Free Cash Flow Per Share	-	-0.26	0.32	-0.19	-0.01	Upgrade
Cash Interest Paid	-	7.82	-	-	-	Upgrade
Cash Income Tax Paid	-	5	5.15	-	-	Upgrade
Levered Free Cash Flow	33.01	-8.24	-29.08	-7.71	-1.86	Upgrade
Unlevered Free Cash Flow	50.96	-3.34	-29.08	-6.44	-0.23	Upgrade
Change in Working Capital	7.73	-0.65	20.91	-6.8	2.73	Upgrade

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