IST:VKGYO 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	780.51	3,037	1,928	1,747	474.69	Upgrade
Depreciation & Amortization	4.74	2.52	1.77	2.97	0.54	Upgrade
Other Amortization	-	2.5	3.65	-	-	Upgrade
Asset Writedown	-725.47	-4,855	-1,945	-731.92	-331.69	Upgrade
Change in Accounts Receivable	-308.55	-97.95	334.42	-144.42	-55.7	Upgrade
Change in Accounts Payable	112.51	-709.43	141.87	-465.92	45.89	Upgrade
Change in Other Net Operating Assets	639.76	501.61	-502.48	1,081	-112.63	Upgrade
Other Operating Activities	1,050	1,491	1,078	1,577	-145.36	Upgrade
Operating Cash Flow	2,091	169.55	-1,025	1,947	167.02	Upgrade
Operating Cash Flow Growth	1133.23%	-	-	1065.90%	-72.87%	Upgrade
Acquisition of Real Estate Assets	-133.48	-89.47	-348.01	-1,868	-726.28	Upgrade
Sale of Real Estate Assets	0.05	0	0.31	9.17	5.28	Upgrade
Net Sale / Acq. of Real Estate Assets	-133.43	-89.47	-347.7	-1,859	-721	Upgrade
Investing Cash Flow	-133.92	-89.71	-348.63	-1,861	-722.66	Upgrade
Long-Term Debt Repaid	-11.25	-102.14	-148.72	-193.06	-73.13	Upgrade
Total Debt Repaid	-11.25	-102.14	-148.72	-193.06	-73.13	Upgrade
Net Debt Issued (Repaid)	-11.25	-102.14	-148.72	-193.06	-73.13	Upgrade
Issuance of Common Stock	-	-	1,137	-	522.14	Upgrade
Other Financing Activities	-1.4	455.49	769.23	105.63	144.99	Upgrade
Miscellaneous Cash Flow Adjustments	-563.25	-362	-1,135	-879.09	-	Upgrade
Net Cash Flow	1,381	71.2	-751.15	-879.92	38.37	Upgrade
Cash Interest Paid	-	8.36	96.7	49.02	12.49	Upgrade
Levered Free Cash Flow	2,037	1,994	-3,008	244.35	-188.4	Upgrade
Unlevered Free Cash Flow	2,040	2,000	-2,925	269.3	-180.22	Upgrade
Change in Working Capital	979.95	490.04	-2,092	-648.7	168.16	Upgrade

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