IST:AGESA 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	FY 2020	2015 - 2019
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	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	4,976	2,871	1,390	874.58	451.81	294.95	Upgrade
Depreciation & Amortization	335.36	96.01	39.68	29.27	24.52	18.59	Upgrade
Other Amortization	247.5	166.56	109.94	64.08	36.85	20.84	Upgrade
Other Operating Activities	5,660	4,424	2,457	1,381	627.27	210.88	Upgrade
Operating Cash Flow	11,219	7,558	3,997	2,349	1,140	545.26	Upgrade
Operating Cash Flow Growth	85.50%	89.11%	70.16%	105.95%	109.16%	-21.66%	Upgrade
Capital Expenditures	-1,358	-860.33	-471.77	-231.78	-165.26	-68.14	Upgrade
Sale of Property, Plant & Equipment	25.98	4.02	0.25	1.58	3.76	0.3	Upgrade
Investment in Securities	-8,815	-5,435	-3,828	-2,423	-1,099	-77.85	Upgrade
Other Investing Activities	4,568	2,691	1,341	641.02	345.07	121.94	Upgrade
Investing Cash Flow	-5,579	-3,600	-2,959	-2,013	-915.64	-23.76	Upgrade
Total Debt Repaid	-153.5	-116.24	-24.83	-12.62	-13.92	-16.96	Upgrade
Net Debt Issued (Repaid)	-153.5	-116.24	-24.83	-12.62	-13.92	-16.96	Upgrade
Issuance of Common Stock	-	-	40	-	-	-	Upgrade
Common Dividends Paid	-941.73	-281.81	-141.11	-	-200.19	-91.7	Upgrade
Other Financing Activities	-38.19	-55.44	-44.78	-	-	-	Upgrade
Financing Cash Flow	-1,133	-453.49	-170.73	-12.62	-214.11	-108.66	Upgrade
Foreign Exchange Rate Adjustments	0.3	-3.58	52.55	-0.37	41.34	9.89	Upgrade
Net Cash Flow	4,507	3,501	919.96	323.21	52.06	422.72	Upgrade
Free Cash Flow	9,861	6,698	3,525	2,117	975.2	477.12	Upgrade
Free Cash Flow Growth	86.46%	90.01%	66.51%	117.08%	104.39%	-30.93%	Upgrade
Free Cash Flow Margin	24.96%	28.02%	23.33%	28.36%	19.49%	16.29%	Upgrade
Free Cash Flow Per Share	54.78	37.21	19.58	11.76	5.42	2.65	Upgrade
Cash Interest Paid	0.63	16.23	10.68	-	-	-	Upgrade
Cash Income Tax Paid	1,852	1,010	453.03	251.43	145.07	83.74	Upgrade
Levered Free Cash Flow	-125,471	-83,710	-65,220	-32,411	-12,872	-29,436	Upgrade
Unlevered Free Cash Flow	-125,471	-83,710	-65,220	-32,411	-12,872	-29,436	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.