IST:OBASE 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
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
Net Income	6.65	-64.36	-40.7	-4.21	17.97
Depreciation & Amortization	13.55	14.86	14.04	8.78	1.45
Other Amortization	153.7	111.11	94.94	45.7	7.5
Loss (Gain) From Sale of Investments	-0.55	-0.35	-0.23	-6.38	-
Provision & Write-off of Bad Debts	3.45	2.37	9.56	4.78	1.28
Other Operating Activities	42	31.34	-14.39	-14.82	-1.52
Change in Accounts Receivable	-44.69	89.24	-69.23	43.17	-31.61
Change in Inventory	5.03	-5.03	2.54	-0.16	-
Change in Accounts Payable	-27.31	-9.74	13.26	-23.41	26.57
Change in Unearned Revenue	-6.41	-6.66	37.13	3.81	6.65
Change in Other Net Operating Assets	16.82	-32	-6.19	-4.74	-6.92
Operating Cash Flow	162.24	130.78	40.73	52.52	21.36
Operating Cash Flow Growth	24.05%	221.10%	-22.45%	145.82%	-
Capital Expenditures	-0.21	-3.25	-1.86	-7.53	-0.96
Sale of Property, Plant & Equipment	-	1.34	1.5	0.54	0.32
Sale (Purchase) of Intangibles	-244.63	-218.95	-144.95	-66.25	-17.03
Investment in Securities	-	-	55.43	-59.54	-
Investing Cash Flow	-244.84	-220.86	-89.88	-132.78	-17.68
Long-Term Debt Issued	168.94	155.56	52.67	49.61	7.67
Long-Term Debt Repaid	-125.09	-25.67	-79.1	-28.98	-9.19
Net Debt Issued (Repaid)	43.86	129.9	-26.43	20.62	-1.52
Issuance of Common Stock	-	-	-	188.6	-
Common Dividends Paid	-	-	-	-2.28	-2.47
Other Financing Activities	-23.72	21.23	32.23	6.27	-0.8
Financing Cash Flow	20.13	151.13	5.81	213.21	-4.8
Miscellaneous Cash Flow Adjustments	-32.83	-34.65	-83.86	-25.27	-
Net Cash Flow	-95.3	26.4	-127.2	107.68	-1.11
Free Cash Flow	162.03	127.53	38.87	44.99	20.4
Free Cash Flow Growth	27.05%	228.07%	-13.59%	120.49%	-
Free Cash Flow Margin	18.93%	13.16%	6.56%	13.10%	19.47%
Free Cash Flow Per Share	3.56	2.80	0.85	0.99	0.45
Cash Interest Paid	53.18	23.01	8.3	5.9	1.54
Cash Income Tax Paid	-	-	24.08	-	-
Levered Free Cash Flow	-129.52	-56.54	-123.58	-41.95	-
Unlevered Free Cash Flow	-96.29	-42.16	-118.39	-37.22	-
Change in Working Capital	-56.56	35.8	-22.49	18.66	-5.32

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