IST:SURGY 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	1,595	328.76	1,313	611.88
Depreciation & Amortization	1.67	1.67	0.65	0.05
Asset Writedown	-1,553	-1,185	-1,511	-747.19
Change in Accounts Receivable	-202.73	-375.89	116.73	-46.15
Change in Accounts Payable	-108.85	21.32	-2.22	36.6
Change in Other Net Operating Assets	-1.07	0.37	0.6	9.47
Other Operating Activities	1,365	619.04	43.35	42.07
Operating Cash Flow	495.53	-468.42	626.13	132.5
Operating Cash Flow Growth	-	-	372.54%	-
Acquisition of Real Estate Assets	-	-	-	-0.43
Sale of Real Estate Assets	312.19	275.84	32.33	23.63
Net Sale / Acq. of Real Estate Assets	312.19	275.84	32.33	23.2
Other Investing Activities	1,492	561.65	-	-
Investing Cash Flow	1,804	837.49	32.33	23.2
Long-Term Debt Issued	-	40.09	-	-
Net Debt Issued (Repaid)	16.27	40.09	-	-
Issuance of Common Stock	-	-	75	45.07
Repurchase of Common Stock	-4.63	-3.47	-	-
Other Financing Activities	-2,115	-809.61	313.42	-199.02
Miscellaneous Cash Flow Adjustments	-64.69	-203.47	-386.92	-
Net Cash Flow	131.32	-607.39	659.97	1.76
Levered Free Cash Flow	-1,035	-1,289	-632.56	-
Unlevered Free Cash Flow	-1,003	-1,288	-632.56	-
Change in Working Capital	-913.43	-232.87	780.33	225.69

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