IST:GRSEL 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	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,976	1,650	1,565	281.52	68.1
Depreciation & Amortization	799.54	554.92	99.01	3.07	20.18
Loss (Gain) From Sale of Assets	-65.86	-32.18	-48.19	-78.32	-0.61
Asset Writedown & Restructuring Costs	-44.75	-44.75	-487.13	-104.3	-29.89
Provision & Write-off of Bad Debts	1.01	1.32	0.42	-3.38	2.01
Other Operating Activities	60.75	72.77	163.05	88.62	4.25
Change in Accounts Receivable	-1,146	-887.63	-823.28	-282.72	-19.71
Change in Inventory	-0.45	2.15	-1.32	-4.16	-0.28
Change in Accounts Payable	306.24	83.72	262.39	192.47	26.54
Change in Unearned Revenue	541.56	934.65	-	-	17.61
Change in Other Net Operating Assets	-225.1	97.26	-41	-30.74	10.81
Operating Cash Flow	2,203	2,432	688.58	62.06	99.02
Operating Cash Flow Growth	-8.01%	253.25%	1009.61%	-37.33%	-
Capital Expenditures	-1,415	-1,249	-1,060	-89.9	-118.93
Sale of Property, Plant & Equipment	407.08	201.8	416.86	100.59	50.71
Sale (Purchase) of Intangibles	-361.27	-	-	-	-1.26
Investment in Securities	-	-	-	-	4.65
Investing Cash Flow	-1,369	-1,047	-643.22	10.69	-64.83
Long-Term Debt Issued	-	-	397	111.01	-
Long-Term Debt Repaid	-	-530.37	-	-	-
Net Debt Issued (Repaid)	-339.74	-530.37	397	111.01	-
Issuance of Common Stock	-	-	-	226.02	64.55
Repurchase of Common Stock	-	-	-	-15	-
Common Dividends Paid	-147.67	-60.48	-119.27	-18.57	-
Other Financing Activities	-	-	-	-	-75
Financing Cash Flow	-487.41	-590.85	277.73	303.46	-10.45
Foreign Exchange Rate Adjustments	-17.85	-10.65	-	-	1.27
Miscellaneous Cash Flow Adjustments	-199.39	-71.77	-233.49	-71.96	-
Net Cash Flow	129.16	711.75	89.59	304.25	25
Free Cash Flow	788	1,183	-371.51	-27.84	-19.91
Free Cash Flow Margin	9.68%	14.21%	-5.72%	-0.93%	-3.14%
Free Cash Flow Per Share	7.72	11.60	-3.64	-0.27	-0.23
Cash Income Tax Paid	370.54	208.66	91.86	26.48	15.03
Levered Free Cash Flow	-222.69	676.68	-906.32	-161.74	-
Unlevered Free Cash Flow	-52.9	911.54	-701.41	-93.61	-
Change in Working Capital	-523.52	230.16	-603.21	-125.15	34.99

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