Cash Flow Statement

Currency: TRY

	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023
Operating Cash Flow
Net Income	112	90	104	147	132	185	204	326	357	327	314
Depreciation & Amortization	24	21	21	22	26	29	32	36	40	46	49
Other Non-Cash Items	(10)	(12)	(14)	(53)	(44)	(52)	(28)	(130)	(119)	(58)	(84)
Cash Taxes Paid	10	8	7	8	3	2	13	26	27	29	28
Cash Interest Paid	8	10	13	15	18	25	40	50	58	66	80
Change in Working Capital	(46)	(37)	(41)	(75)	(38)	(213)	(328)	(445)	(311)	(313)	(138)
Cash from Operating Activities	79 N/A	61 -23%	71 +17%	42 -41%	76 +83%	(50) N/A	(119) -136%	(213) -79%	(33) +84%	1 N/A	140 +10 798%
Investing Cash Flow
Capital Expenditures	(35)	(36)	(38)	(74)	(75)	(74)	(80)	(44)	(64)	(65)	(84)
Other Items	(79)	(8)	33	5	13	23	35	35	23	37	34
Cash from Investing Activities	(114) N/A	(45) +61%	(5) +88%	(69) -1 174%	(62) +10%	(51) +18%	(45) +12%	(9) +80%	(40) -350%	(29) +29%	(50) -73%
Financing Cash Flow
Net Issuance of Debt	76	72	62	73	90	182	232	246	258	244	170
Cash Paid for Dividends	(46)	(114)	(115)	(87)	(77)	(58)	(61)	(61)	(58)	(157)	(153)
Other	(8)	(10)	(13)	(15)	(18)	(25)	(40)	(50)	(51)	(52)	(49)
Cash from Financing Activities	22 N/A	(52) N/A	(66) -26%	(29) +56%	(5) +83%	98 N/A	130 +32%	134 +3%	149 +11%	36 -76%	(32) N/A
Change in Cash
Effect of Foreign Exchange Rates	0	0	2	2	3	3	2	2	1	1	2
Net Change in Cash	(13) N/A	(36) -185%	1 N/A	(54) N/A	13 N/A	(0) N/A	(32) -7 443%	(86) -168%	76 N/A	10 -87%	60 +510%
Free Cash Flow
Free Cash Flow	45 N/A	25 -44%	33 +33%	(32) N/A	1 N/A	(124) N/A	(199) -61%	(257) -29%	(97) +62%	(64) +34%	57 N/A

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