IST:GZNMI 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
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
Net Income	-60.14	-17.82	-155.66	520.56	17.52
Depreciation & Amortization	127.99	87.16	20.1	6.41	1.26
Loss (Gain) From Sale of Assets	-0.05	-	-	-0.07	-
Asset Writedown & Restructuring Costs	-	-	0.09	-	-
Loss (Gain) From Sale of Investments	-2.37	51.73	-334.98	-596.34	-0.36
Loss (Gain) on Equity Investments	4	4	-59.15	-	-
Provision & Write-off of Bad Debts	-	-	0.51	0.61	6.49
Other Operating Activities	161.95	205.77	69.63	48.53	4.29
Change in Accounts Receivable	-306.01	18.98	-130.82	-7.1	-7.73
Change in Inventory	-52.55	-0.82	-	-	-
Change in Accounts Payable	74.59	212.63	91.03	-39.95	19.33
Change in Other Net Operating Assets	-183.08	-380.97	-318.67	37.4	-30.99
Operating Cash Flow	-235.67	180.65	-817.91	-29.96	9.82
Capital Expenditures	-527.36	-36.71	-78.55	-6.66	-1.34
Sale of Property, Plant & Equipment	-0.4	1.59	13.67	0.4	-
Cash Acquisitions	-	-	-36.91	-56.28	-
Sale (Purchase) of Intangibles	-1.84	-0.66	-2.52	-0.95	-0.03
Investment in Securities	-0.83	28.05	1,060	-208.57	-0.54
Other Investing Activities	159.23	25.18	12.4	13.34	0.44
Investing Cash Flow	-371.2	17.46	967.63	-258.73	-1.47
Long-Term Debt Issued	-	486.69	2.25	-	-
Long-Term Debt Repaid	-	-391.25	-4.49	-3.13	-11.13
Net Debt Issued (Repaid)	913.84	95.44	-2.24	-3.13	-11.13
Issuance of Common Stock	-	-	-	284.33	12.69
Other Financing Activities	-230.87	-118.42	-69.86	-	-2.28
Financing Cash Flow	682.97	-22.98	-72.1	281.19	-0.72
Net Cash Flow	37.32	175.13	77.61	-7.5	7.63
Free Cash Flow	-763.03	143.94	-896.47	-36.62	8.48
Free Cash Flow Margin	-28.99%	5.63%	-42.02%	-3.86%	5.00%
Free Cash Flow Per Share	-11.74	2.21	-13.79	-0.56	0.56
Cash Interest Paid	230.87	118.42	69.86	-	2.28
Cash Income Tax Paid	10.69	12.96	24.43	21.92	3.41
Levered Free Cash Flow	-1,173	-102.52	-482.73	-53.16	-
Unlevered Free Cash Flow	-987.06	-22.22	-439.07	-41.58	-
Change in Working Capital	-467.05	-150.19	-358.47	-9.65	-19.38

Source: S&P Global Market Intelligence. Standard template. Financial Sources.