IST:SRVGY 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	3,339	2,600	7,235	4,709	672.36	Upgrade
Depreciation & Amortization	7.34	8.15	3.42	2.26	0.18	Upgrade
Gain (Loss) on Sale of Investments	-143.7	-	-	-	-	Upgrade
Asset Writedown	-3,776	-7,550	-1,889	-4,143	-1,641	Upgrade
Change in Accounts Receivable	42.13	34.85	-76	68.7	-52.05	Upgrade
Change in Accounts Payable	554.53	-89.23	62.81	14	-80.63	Upgrade
Change in Other Net Operating Assets	-19.56	-675.27	-370.38	-177.13	1,840	Upgrade
Other Operating Activities	3,697	5,649	-2,826	540.1	1,168	Upgrade
Operating Cash Flow	1,978	-105.96	1,729	1,439	1,520	Upgrade
Operating Cash Flow Growth	-	-	20.12%	-5.29%	8969.97%	Upgrade
Acquisition of Real Estate Assets	-888.8	-64.11	-80.71	-51.66	-1,494	Upgrade
Sale of Real Estate Assets	-	-	-	-	56.88	Upgrade
Net Sale / Acq. of Real Estate Assets	-888.8	-64.11	-80.71	-51.66	-1,437	Upgrade
Investing Cash Flow	-888.8	-64.11	-80.71	-51.66	-1,437	Upgrade
Long-Term Debt Issued	-	327.23	-	41.19	805.38	Upgrade
Long-Term Debt Repaid	-198.16	-132.78	-359.63	-413.08	-195.78	Upgrade
Net Debt Issued (Repaid)	-198.16	194.45	-359.63	-371.89	609.61	Upgrade
Common Dividends Paid	-750.02	-	-	-	-	Upgrade
Other Financing Activities	-150.47	-153.71	-1,134	-1,553	-186.99	Upgrade
Foreign Exchange Rate Adjustments	-2.85	-1.59	-	-916.8	-	Upgrade
Miscellaneous Cash Flow Adjustments	-9.14	-46.36	-6.71	-	-	Upgrade
Net Cash Flow	-21.52	-177.29	148.01	-1,454	505.07	Upgrade
Cash Interest Paid	150.47	171.42	1,170	1,553	49.67	Upgrade
Cash Income Tax Paid	-	-	-	-	75.8	Upgrade
Levered Free Cash Flow	-2,791	1,190	-27.32	334.62	1,704	Upgrade
Unlevered Free Cash Flow	-2,699	1,317	855.42	513.05	1,735	Upgrade
Change in Working Capital	-1,145	-812.37	-794.34	331.12	1,320	Upgrade

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