CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

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Imogen Ramsey
5 years ago
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1 CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH CONDENSED CONSOLIDATED BALANCE SHEETS AT 30 SEPTEMBER 2017 AND 31 DECEMBER September December 2016 ASSETS Current Assets Cash and Cash Equivalents Trade Receivables Due from Related Parties Other Trade Receivables Other Receivables Other Receivables Derivative Financial Instruments Inventories Prepaid Expenses Non-Current Assets Other Receivables Other Receivables Investment Properties Property, Plant and Equipments Intangible Assets Goodwill Other Intangible Assets Prepaid Expenses Deferred Tax Assets TOTAL ASSETS

2 CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH CONDENSED CONSOLIDATED BALANCE SHEETS AT 30 SEPTEMBER 2017 AND 31 DECEMBER September December 2016 LIABILITIES Current Liabilities Financial Liabilities Short Term Financial Liabilities from Related Parties Other Short Term Financial Liabilities Short Term Portion of Long Term Financial Liabilities Short Term Portion of Long Term Financial Liabilities from Related Parties Other Short Term Portion of Long Term Financial Liabilities Trade Payables Due to Related Parties Other Trade Payables Employee Benefit Liabilities Other Payables Due to Related Parties Other Short Term Payables Short Term Provisions Provisions for Employment Benefits Other Short Term Provisions Other Current Liabilities Non-Current Liabilities Long Term Financial Liabilities Long Term Financial Liabilities from Related Parties Other Long Term Financial Liabilities Long Term Provisions Provisions for Employment Termination Benefits EQUITY Shareholders' Equity Share Capital Inflation Adjustment to Share Capital Share Issue Premium Other Comprehansive Income/Expense Not to be Reclassified to Profit or Loss ( ) ( ) Actuarial Loss Restricted Reserves ( ) ( ) Accumulated Losses ( ) ( ) Net Loss for the Period TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

3 CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE INTERIM PERIODS ENDED 30 SEPTEMBER 2017 AND 2016 CONTINUING OPERATIONS 1 January - 1 July - 1 January - 1 July - 30 September September September September 2016 Revenue Cost of Sales (-) ( ) ( ) ( ) ( ) GROSS PROFIT Marketing Expenses (-) ( ) ( ) ( ) ( ) General Administrative Expenses (-) ( ) ( ) ( ) ( ) Other Income from Main Operations Other Expenses from Main Operations (-) ( ) ( ) ( ) ( ) OPERATING LOSS FROM MAIN OPERATIONS ( ) ( ) ( ) ( ) Income From Investment Activities, net OPERATING LOSS ( ) ( ) ( ) ( ) Financial Expenses (-) ( ) ( ) ( ) ( ) LOSS BEFORE TAX ( ) ( ) ( ) ( ) Tax Income Taxes on Income Deferred Tax Income NET LOSS FOR THE PERIOD ( ) ( ) ( ) ( ) TOTAL COMPREHENSIVE LOSS ( ) ( ) ( ) ( ) Loss Per Share (0,1907) (0,0711) (0,6153) (0,2345) 3

4 CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY FOR THE INTERIM PERIODS ENDED 30 SEPTEMBER 2017 AND 2016 Share Capital Inflation Adjustment to Share Capital Share Issue Premium Actuarial Gains / (Losses) Restricted Reserves Retained Losses Net Loss for the Period Total Balance at 1 January ( ) ( ) Transfers ( ) ( ) Total Comprehensive Loss ( ) ( ) Balances at 30 September ( ) ( ) ( ) Balance at 1 January ( ) ( ) ( ) Transfers ( ) Total Comprehensive Loss ( ) ( ) Balance at 30 September ( ) ( ) ( )

5 CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE INTERIM PERIODS ENDED 30 SEPTEMBER 2017 AND 2016 CASH FLOWS FROM OPERATING ACTIVITIES Net loss profit for the period 1 January - 1 January - 30 September September 2016 ( ) ( ) Adjusments to reconcile net loss for the period Depreciation of investment properties Depreciation of property, plant and equipments Amortization of intangible assets Gain on sale of tangible and intangible assets ( ) - - Risk, lawsuit, personnel, SSI and other provisions ( ) Interest accruals Impairment provision / (impairment provision no longer required) ( ) Change in unused vacation provision ( ) (12.228) - Provision for employement termination benefit Allowance for doubtful receivables Change in inventory impairment Unrealized foreign exchange loss Tax (income) / expense ( ) ( ) - Tax effect of acquired subsidiary - ( ) Changes in working capital: Increase in trade receivables, including collection from doubtful receivables ( ) ( ) - (Decrease) / Increase in inventories ( ) (Decrease) / Increase in due from related parties ( ) Decrease in other receivables and current assets Increase in prepaid expenses ( ) ( ) Increase in due to short term trade payables (Decrease) / Increase in due to other short term trade payables ( ) Increase in due to related parties ( ) ( ) - Decrease / (Increase) in employee benefit liabilities ( ) - Increase in other short-term liabilities ( ) ( ) Cash generated from / (used in) operating activities ( ) - Employee termination benefits paid ( ) ( ) Net cash generated from / (used in) operating activities ( ) 5

6 CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE INTERIM PERIODS ENDED 30 SEPTEMBER 2017 AND 2016 CASH FLOWS FROM INVESTING ACTIVITIES 1 January - 1 January - 30 September September Acquisition of property, plant and equipment ( ) ( ) - Acquisition of intangible assets ( ) ( ) - Acquisition of investment properties ( ) ( ) - Change in goodwill due to revision in fair value of acquired subsidiary - ( ) - Proceeds from sale of tangible and intangible assets Net cash used in investing activities ( ) ( ) CASH FLOWS FROM FINANCING ACTIVITIES - Proceeds from bank borrowings Repayment of borrowings ( ) ( ) - Repayment of financial lease payables ( ) ( ) Net cash (used in) / generated from financing activities Decrease in cash and cash equivalents ( ) ( ) ( ) Cash and cash equivalents at the beginning of the period The impact of change in foreign currency exchange over cash and cash equivalents Cash and cash equivalents at the end of the period In the current period, paid interest is amounting to TRY 144,566,629 and received interest is amounting to TRY 166,211 (30 September 2016: paid interest, TRY 112,270,423 and received interest, TRY 844,502). 6

ASSETS 31 March December 2015

ASSETS 31 March December 2015 Condensed Consolidated Interim Balance Sheet as at 31 March 2016 Audited ASSETS 31 March 2016 31 December 2015 Current Assets Cash and Cash Equivalents 3.122 2.617 Financial Investments - 180 Trade Receivables