IST:MHRGY 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
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
Net Income	488.86	117.35	45.1	1,034	328.41	Upgrade
Depreciation & Amortization	9.88	4.6	2.17	0.87	0.27	Upgrade
Gain (Loss) on Sale of Assets	-	-	-	-	0.01	Upgrade
Gain (Loss) on Sale of Investments	-300.34	-308.65	-	-	-	Upgrade
Asset Writedown	-311.95	-304.1	126.94	-457.8	-416.12	Upgrade
Change in Accounts Receivable	-100.28	-26.97	7.09	22.85	-11.92	Upgrade
Change in Accounts Payable	30.98	18.25	-1.09	-10.01	2.74	Upgrade
Change in Other Net Operating Assets	251.24	-1,220	-189.45	-31.86	-20.59	Upgrade
Other Operating Activities	829.43	888.91	-242.83	-540.28	100.77	Upgrade
Operating Cash Flow	239.58	-902.77	-256.72	10.61	-17.63	Upgrade
Acquisition of Real Estate Assets	-6.46	-66.85	-8.58	-35	-0.97	Upgrade
Sale of Real Estate Assets	2.65	-	-	-	0.4	Upgrade
Net Sale / Acq. of Real Estate Assets	-3.81	-66.85	-8.58	-35	-0.57	Upgrade
Other Investing Activities	0.93	9.17	1,265	7.66	571.84	Upgrade
Investing Cash Flow	-4.35	-57.68	1,256	-27.34	571.27	Upgrade
Short-Term Debt Issued	-	0	-	0.02	-	Upgrade
Total Debt Issued	-	0	-	0.02	-	Upgrade
Short-Term Debt Repaid	-	-	-0.03	-	-	Upgrade
Long-Term Debt Repaid	-	-	-	-	-521.61	Upgrade
Total Debt Repaid	-	-	-0.03	-	-521.61	Upgrade
Net Debt Issued (Repaid)	-	0	-0.03	0.02	-521.61	Upgrade
Common Dividends Paid	-44.45	-	-	-	-	Upgrade
Other Financing Activities	-13.28	564.32	145.4	6.22	-16.35	Upgrade
Foreign Exchange Rate Adjustments	-	-	-	35.37	-	Upgrade
Miscellaneous Cash Flow Adjustments	-198.43	-563.84	115.75	-	0	Upgrade
Net Cash Flow	-20.94	-959.96	1,260	24.88	15.67	Upgrade
Levered Free Cash Flow	-891.39	13.96	69.29	65.54	-9.84	Upgrade
Unlevered Free Cash Flow	-891.39	13.96	69.3	65.56	0.38	Upgrade
Change in Working Capital	-476.31	-1,301	-188.1	-26.57	-30.97	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.