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Data

Security mpark
Method AnnouncedCalculatedRestatedFormulated MCAP 36,739 (TL mn)
Coefficient 1000000
Template XI_29
Currency local
2014/YE 2015/YE 2016/YE 2017/YE 2018/YE 2019/YE 2020/YE 2021/YE 2022/YE 2023/YE
REFERENCE
Template XI_29 XI_29 XI_29 XI_29 XI_29 XI_29 XI_29 XI_29 XI_29 XI_29
End of Period 31.12.2014 31.12.2015 31.12.2016 31.12.2017 31.12.2018 31.12.2019 31.12.2020 31.12.2021 31.12.2022 31.12.2023
Document Reports Reports Reports Reports Reports Reports Reports Reports Reports Reports
Announcement Date 25.1.2018 25.1.2018 6.3.2018 7.3.2019 5.3.2020 8.3.2021 8.3.2022 8.3.2023 45370 45370
Income Statement FX Rate
Balance Sheet FX Rate
Cash Flow FX Rate
INCOME STATEMENT
Net Sales 1,518.03 1,843.39 2,160.07 2,576.08 3,131.56 3,703.60 4,014.68 5,795.95 18,902.87 22,449.35
Cost Of Sales -1,240.17 -1,562.35 -1,853.76 -2,170.59 -2,644.05 -2,851.76 -3,058.18 -4,216.99 -14,015.54 -16,018.96
Gross Profit (Loss) from Trade Operations 277.86 281.04 306.31 405.49 487.51 851.84 956.50 1,578.96 4,887.34 6,430.38
Proceeds from Interest, Fee, Premium, Commission and Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses from Interest, Fee, Premium, Commission and Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Gross Profit (Loss) from Financial Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
GROSS PROFIT (LOSS) 277.86 281.04 306.31 405.49 487.51 851.84 956.50 1,578.96 4,887.34 6,430.38
Marketing Selling & Distrib. Expenses (-) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
General Administrative Expenses (-) -157.43 -173.64 -126.61 -215.15 -271.03 -308.58 -266.01 -561.47 -1,869.45 -2,188.94
Research & Development Expenses (-) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income from Other Operations 207.64 111.48 198.45 380.08 598.90 333.47 560.56 544.25 897.87 953.19
Expenses from Other Operations (-) -84.20 -104.55 -168.53 -357.68 -515.11 -353.80 -497.44 -546.21 -940.61 -822.95
OPERATING PROFITS 243.87 114.33 209.63 212.74 300.27 522.93 753.61 1,015.53 2,975.15 4,371.69
Income from Investment Activities 1.29 4.20 1.84 1.00 1.61 132.38 118.58 9.89 999.94 78.13
Expenses from Investment Activities (-) -2.50 -1.73 -2.41 -1.19 -0.43 -1.53 -2.45 -1.04 -176.70 -10.72
Profit (Loss) from Subsidiaries 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operations Profit / Loss before Financial Expenses 242.66 116.79 209.06 212.54 301.46 653.78 869.73 1,024.37 3,798.39 4,439.09
Financial Income (from Other Operations) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 156.44 243.89
Financial Expenses (from Other Operations) (-) -127.59 -194.05 -271.39 -383.29 -463.85 -571.66 -684.22 -652.49 825.74 1,141.96
PROFIT BEFORE TAX FROM CONTINUING OPERATIONS 115.06 -77.26 -62.32 -170.75 -162.40 82.12 185.51 371.89 4,780.56 5,824.94
Taxation on Continuing Operations 11.91 34.64 13.61 37.97 58.72 -25.87 -62.51 -16.68 110.88 -1,077.01
Taxation on Income (Expenses) -9.72 -11.97 -5.42 -11.57 -14.28 -20.05 -34.12 -82.33 -106.01 -534.58
Income (Expenses) of Deferred Tax 21.63 46.61 19.03 49.54 73.00 -5.82 -28.40 65.65 216.89 -542.43
PROFIT FROM CONTINUING OPERATIONS 126.97 -42.62 -48.71 -132.78 -103.68 56.25 123.00 355.21 4,891.44 4,747.93
Profit After Taxes from Discontinued Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NET PROFIT AFTER TAXES 126.97 -42.62 -48.71 -132.78 -103.68 56.25 123.00 355.21 4,891.44 4,747.93
Not to be Reclassified on Profit and Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Actuarial Profit/(Loss) on Retirement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tax Effect 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Revaluation of Financial Fixed Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
To be Reclassified as Profit or Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Subsidiaries Hedge against Cash Flow Risk ( Net ) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Gains (losses) on cash flow hedges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred Tax Effects due to Financial Hedge Instruments against Cash Flow Risk 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
FX Conversion Differences 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
OTHER COMPREHENSIVE INCOME ( AFTER TAX ) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL COMPREHENSIVE INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Distrubition of Profit (Loss)
Parent Shares 124.01 -47.45 -44.52 -122.77 -127.65 36.25 64.93 290.42 4,741.60 4,529.59
Minority Interests 2.96 4.83 -4.19 -10.01 23.97 20.00 58.07 64.79 149.85 218.34
Distribution of Total Comprehensive Income
Parent Shares (Total Comprehensive Income) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Minority Interests (Total Comprehensive Income) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted Earnings per Share 0.00 0.00 0.00 -0.70 0.00 0.00 0.00 0.00 0.00 0.00
Earnings per Share from Discontinued Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted Earnings per Share from Continued Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted Earnings per Share from Discontinued Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Earnings per Share 0.73 -0.27 -0.25 0.00 -0.62 0.00 0.00 0.00 0.00 0.00
Earnings per Share from Continuing Operations 0.00 0.00 0.00 0.00 0.00 0.17 0.31 0.00 0.00 0.00
NET PROFIT/LOSS AFTER TAXES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
BALANCE SHEET
ASSETS
CURRENT ASSETS 798.00 901.16 1,015.71 1,161.18 1,478.59 1,721.98 2,185.28 2,741.33 6,964.56 8,459.55
Cash and Cash Equivalents 213.22 92.09 110.68 217.85 223.32 305.66 375.00 680.24 1,261.96 2,812.37
Short-Term Financial Investments 0.00 49.96 0.00 0.00 0.00 0.00 0.00 0.00 352.91 0.00
Derivative Financial Instruments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Financial Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Finnacial Assets at Fair Value through Profit/Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Assets at Fair Value through Other Comprehensive Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Short-Term Trade Receivables 471.28 611.90 724.14 750.18 898.59 990.90 1,155.12 1,318.05 3,009.89 3,657.20
Due from Related Parties 7.91 7.52 10.11 15.18 3.04 2.84 23.65 0.19 0.09 0.11
Other Trade Receivables 463.37 604.39 714.03 734.99 895.56 988.05 1,131.46 1,317.86 3,009.81 3,657.09
Short-Term Receivables from Financial Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Short-Term Other Receivables 12.07 12.99 22.88 23.68 72.13 61.00 84.37 117.76 203.70 212.98
Due from Related Parties 1.39 2.53 5.10 9.16 50.11 31.08 41.06 54.81 126.61 134.87
Other Receivables 10.68 10.46 17.78 14.52 22.01 29.92 43.31 62.95 77.09 78.12
Prepaid Rent and Other Expenses 44.66 56.88 81.54 90.20 167.19 234.85 414.26 263.41 664.38 491.65
Prepayments to Related Parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Prepaid Expenses 0.00 0.00 81.54 90.20 167.19 234.85 414.26 263.41 664.38 491.65
Inventories 31.07 41.97 45.06 51.35 80.20 90.47 113.48 285.28 1,173.79 1,076.60
Short-Term Live Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Derivative Financial Instruments 0.00 2.70 0.00 0.00 1.48 0.00 0.00 0.00 0.00 0.00
Other Current Assets 25.69 32.66 31.42 27.93 35.69 39.10 43.05 76.60 297.93 208.75
Other Current Assets 0.00 0.00 31.42 27.93 35.69 39.10 43.05 76.60 297.93 208.75
(Subtotal) 798.00 901.16 1,015.71 1,161.18 1,478.59 1,721.98 2,185.28 2,741.33 6,964.56 8,459.55
Assets Held for Sale and Distributed to Shareholders 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
LONG TERM ASSETS 1,215.51 1,401.23 1,419.59 1,560.16 1,760.28 2,192.51 2,386.57 3,006.79 15,651.51 19,955.56
Trade Receivables 5.20 2.94 1.05 1.05 1.05 1.05 1.05 1.05 1.74 1.05
Long-Term Receivables from Financial Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Receivables 1.02 1.14 1.40 1.43 1.15 2.54 2.74 3.88 4.05 222.54
Other Receivables due from Related Parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Receivables 0.00 0.00 1.40 1.43 1.15 2.54 2.74 3.88 4.05 222.54
Financial Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Financial Assets, LT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments with Equity Method 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Live Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Derivative Financial Instruments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Real Estate Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Right-of-Use Asset 0.00 0.00 0.00 0.00 0.00 235.09 257.44 539.31 4,485.87 7,241.45
Tangible Fixed Assets 588.89 734.96 701.42 752.14 836.76 775.75 764.25 1,014.73 3,509.97 3,865.84
Intangible Fixed Assets 449.91 472.14 471.40 467.73 468.13 551.48 676.85 701.74 4,458.32 4,492.59
Goodwill 40.22 40.22 40.22 40.22 40.22 40.22 38.66 38.66 512.28 512.28
Intangible Assets 409.70 431.92 431.18 427.52 427.91 511.26 638.19 663.08 3,946.04 3,980.31
Prepaid Rights and Rent Expenses 91.60 76.66 98.36 140.49 170.79 228.72 282.71 324.18 1,818.13 2,322.86
Fixed Asset Advances paid to Related Parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Prepaid Expenses 0.00 0.00 98.36 140.49 170.79 228.72 282.71 324.18 1,818.13 2,322.86
Long Term Deffered Tax Assets 62.12 98.72 145.95 197.32 282.40 397.89 401.53 421.90 1,373.44 1,809.22
Other Long-Term Assets 16.79 14.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Fixed Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL ASSETS 2,013.51 2,302.38 2,435.30 2,721.34 3,238.88 3,914.49 4,571.85 5,748.12 22,616.07 28,415.10
LIABILITIES
SHORT TERM LIABILITIES 819.47 1,213.74 1,031.00 1,261.42 1,508.83 1,938.42 2,386.70 3,318.17 7,968.03 8,886.96
Short-Term Financial Loans 350.43 671.07 407.64 422.82 455.28 860.80 977.85 1,274.25 2,712.62 3,062.43
Short-Term Financial Loans 24.04 190.64 124.28 154.43 125.20 391.07 363.74 568.74 1,914.79 2,562.31
Short-Term Payables to Non-Related Parties 0.00 0.00 124.28 154.43 125.20 391.07 363.74 568.74 1,914.79 2,562.31
Bank Credits 0.00 0.00 41.75 62.95 95.94 139.60 41.22 168.74 1,522.08 2,166.87
Current portion of long-term debt 272.82 400.32 283.36 268.39 330.08 469.74 614.10 705.51 797.83 500.13
Financial Debt to Non-Related Parties 0.00 0.00 283.36 268.39 330.08 469.74 614.10 705.51 797.83 500.13
Bank Credits 0.00 0.00 0.00 188.65 169.96 241.14 348.67 372.08 797.83 500.13
Lease Liabilities 0.00 0.00 0.00 0.00 88.41 185.68 221.62 268.04 0.00 0.00
Debt Instruments Issued 0.00 0.00 0.00 79.74 40.00 0.00 0.00 0.00 0.00 0.00
Derivative Financial Instruments 0.00 0.00 0.00 0.00 48.85 23.45 0.00 0.00 0.00 0.00
Other Short-Term Financial Liabilities 0.00 67.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Short-Term Trade Payables 357.99 352.24 448.57 669.98 807.68 821.16 987.13 1,546.34 3,951.18 4,082.22
Trade Debt to Related Parties 7.85 12.32 11.12 24.99 33.02 20.90 18.21 35.60 91.88 60.03
OtherTrade Payables 350.14 339.92 437.46 644.98 774.66 800.26 968.92 1,510.74 3,859.30 4,022.19
Other Short-Term Loans 16.62 21.97 20.54 21.33 22.36 36.38 51.68 64.97 184.51 184.98
To Related Parties 1.24 0.74 0.85 1.41 0.82 0.80 0.80 0.80 1.30 0.06
Other 15.38 21.24 19.69 19.92 21.54 35.58 50.89 64.17 183.21 184.92
Short-Term Loans from Financial Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Short-Term Government Promotions and Aids 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred Income (Excluded Obligations of Customer Contracts) 0.00 0.00 0.00 0.00 63.34 82.12 221.50 243.73 638.17 857.14
Taxation Liabilities on Income (-) 0.00 0.00 1.15 3.60 4.99 4.65 17.71 35.66 84.16 228.83
Deferred Income 17.09 19.92 47.24 33.64 0.00 0.00 0.00 0.00 0.00 0.00
Deferred Income due to Non-Related Parties 0.00 0.00 47.24 33.64 0.00 0.00 0.00 0.00 0.00 0.00
Short-Term Provisions 18.29 14.85 20.62 24.38 28.76 31.15 39.46 52.81 124.71 125.47
Provisions for Liabilities due to Related Parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Other Liabilities 10.30 7.80 12.89 14.75 17.00 17.44 20.37 29.03 68.00 47.06
Retirement Pay Liabilities 56.30 61.67 85.26 85.69 77.58 78.71 91.38 100.42 272.68 345.90
Provisions for Employee Benefits 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Short-Term Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Short Term Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(Subtotal) 819.47 1,213.74 1,031.00 1,261.42 1,508.83 1,938.42 2,386.70 3,318.17 7,968.03 8,886.96
Liabilities on Assets to be Sold and Distributed to Shareholders 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
LONG TERM LIABILITIES 825.80 766.90 1,139.06 1,355.24 1,154.36 1,737.66 1,836.29 1,760.75 4,751.04 6,635.82
Long-Term Financial Loans 438.88 349.20 962.25 1,176.42 963.61 1,487.88 1,513.75 1,474.90 2,284.23 2,993.26
Long-Term Debt to Non-Related Parties 0.00 0.00 962.25 1,176.42 963.61 1,487.88 1,513.75 1,474.90 2,284.23 2,993.26
Bank Credits 0.00 0.00 685.45 951.99 768.77 859.74 944.20 549.59 401.12 1,072.95
Lease Liabilities 0.00 0.00 276.80 224.43 194.84 628.14 569.55 855.30 1,883.10 1,920.31
Debt Instruments Issued 0.00 0.00 0.00 0.00 0.00 0.00 0.00 70.00 0.00 0.00
Long Term Financial Debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Financial Liabilities 53.51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Trade Payables 0.96 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Long-Term Loans 56.97 43.06 41.65 39.22 35.70 72.73 106.47 93.10 484.58 272.23
Long-Term Loans from Financial Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Government Promotions and Aids 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Provisions 7.92 7.11 9.39 14.41 14.61 20.15 30.21 37.94 101.21 112.82
Provisions for Long Term Employee Benefits 7.92 7.11 9.39 14.41 14.61 20.15 30.21 37.94 101.21 112.82
Provisions for Retirment Pay 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Derivative Financial Instruments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Retirment Pay and Seniority Indemnity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred Tax Liabilities 106.33 96.14 123.60 124.14 135.74 154.75 183.65 136.43 1,768.00 3,223.82
Other Long-Term Liabilities 150.82 264.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Long Term Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL LIABILITIES 1,645.27 1,980.64 2,170.06 2,616.67 2,663.19 3,676.08 4,222.99 5,078.92 12,719.07 15,522.78
EQUITY 368.24 321.74 265.24 104.67 575.69 238.41 348.86 669.20 9,897.00 12,892.32
Parent Shareholders Capital 285.71 227.38 175.09 16.30 474.42 230.00 282.39 538.64 9,891.66 12,675.03
Share Capital 176.46 176.46 176.46 176.46 208.04 208.04 208.04 208.04 208.04 208.04
Adjustments to Share Capital 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustment to Share Capital 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,129.48 2,129.48
Share Premium 237.92 237.92 237.92 0.00 556.16 556.16 556.16 556.16 2,645.88 2,645.88
Premium in Excess of Par 237.92 237.92 237.92 0.00 556.16 556.16 556.16 556.16 2,645.88 2,645.88
Market Value Surpluses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Hedge Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Fixed Assets Growth Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income Reserves 0.30 0.30 0.30 10.26 10.26 10.26 10.26 10.26 64.57 65.51
Retained Earnings /(Acc. Losses) -298.71 -184.84 -230.72 -78.16 -200.93 -595.15 -558.90 -482.68 734.00 5,062.90
Current Year Income /(Losses) 124.01 -47.45 -44.52 -122.77 -127.65 36.25 64.93 290.42 4,741.60 4,529.59
Repurchased Shares 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -650.34 -1,925.59
Cumulative Other Comprehensive Income / Expense not to be Classified to Profit and Loss -0.35 -1.10 35.65 30.51 28.55 14.44 1.90 -43.57 18.43 -40.79
Change in Revaluation of Financial Fixed Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
FX Translation Differences 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Revaluation Profit/Loss 0.00 0.00 35.65 30.51 28.55 14.44 1.90 -43.57 18.43 -40.79
Defined Benefit Plans Re-Calculation Differences 0.00 0.00 -4.10 -9.24 -11.21 -23.31 -35.85 -43.57 18.43 -40.79
Increases (Decreases) on Revaluation of Property, Plant and Equipment 0.00 0.00 39.75 39.75 39.75 37.75 37.75 0.00 0.00 0.00
Other Profit /Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Actuarial Profit/Loss Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Assets Revaluation Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accumulated other comprehensive income or loss that will be reclassified in profit or loss 46.08 46.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
FX Translation Differences 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Hedge Fund against Cash Flow Risk 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loss due to Hedge Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Gains (Losses) on Cash Flow Hedges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Hedge Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Minority Interests 82.52 94.37 90.15 88.37 101.27 8.40 66.47 130.56 5.34 217.29
TOTAL LIABILITIES AND S.HOLDERS EQUITY 2,013.51 2,302.38 2,435.30 2,721.34 3,238.88 3,914.49 4,571.85 5,748.12 22,616.07 28,415.10
FOOTNOTES (IS)
Depreciation & Amortization 99.43 129.03 153.33 175.10 191.68 265.85 251.82 335.74 1,261.72 1,542.29
Severance Payments 5.62 4.11 1.82 3.69 3.03 1.39 -0.59 3.03 21.33 6.08
Financial Expenses 0.00 -194.05 -271.39 -383.29 -463.85 -571.66 -684.22 -690.01 0.00 0.00
Interest Expenses from Rental Liabilities 0.00 0.00 0.00 0.00 0.00 -149.27 -143.49 -173.64 0.00 0.00
Bank Loans Interest Expense 0.00 -61.62 -82.91 -113.26 -121.79 -252.80 -190.69 -226.99 0.00 0.00
Interest and Discount Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provision for Impairment of Financial Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Foreign Exchange Differences from Deferred Tax Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fair Value Difference of Derivative Instruments 0.00 0.00 0.00 0.00 -47.37 22.60 23.45 0.00 0.00 0.00
Foreign Exchange Expenses 0.00 -41.07 -84.52 -168.20 -197.98 -91.80 -265.06 -99.00 0.00 0.00
Interest Costs Related to Employee Benefits 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Financial Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Domestic Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Export Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
FOOTNOTES (BS)
Net monetary asset/ liability position -95.67 -119.52 -368.77 -888.16 -632.64 -534.34 -527.33 -19.90 525.67 544.01
Net Fx Position (Balance Sheet) -95.67 -76.86 -368.77 -719.08 -518.54 -448.42 -458.68 53.80 699.21 815.08
Net Fx Position (Incl. Hedge) -95.67 -119.52 -368.77 -719.08 -233.54 -597.53 -458.68 53.80 699.21 815.08
CASH FLOW
Net Cash from Operations 67.75 49.84 370.02 535.71 331.59 663.29 899.26 1,652.75 3,626.48 4,475.70
Earnings Before Adjustments 126.97 -64.92 -48.71 -132.78 -103.68 56.25 123.00 355.21 4,891.44 4,747.93
Net Loss before Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Profit before Taxes 0.00 0.00 0.00 -132.78 -103.68 56.25 123.00 355.21 0.00 0.00
Profit Before Tax From Non-Continuing Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments: 89.53 310.86 435.25 533.17 588.79 735.44 876.20 1,125.25 -2,088.42 -414.38
Depreciation & Amortisation 99.43 129.03 153.33 175.10 191.68 265.85 251.82 335.74 1,261.72 1,542.29
Depreciation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Provisions 14.50 51.64 9.04 11.38 15.04 9.97 12.91 35.00 59.07 87.64
Provisions for Ret (+) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Seniority Incentive Bonus 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Bad Debts (-) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Reserve for Decrease in Stock Value (+) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Decrease in Tangible Fixed Assets (+) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Vacation Rights 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Court Cases 2.96 2.62 5.48 4.44 7.72 4.56 0.97 20.80 27.66 0.09
Provisions for Expected Loss from Projects 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Lack of Handicapped, Former Convicted, Terror-Stricken Employee Penalty 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Sundry Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Tax Risks 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Personnel Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Employee Benefits 9.06 0.00 3.56 6.94 7.33 5.42 11.94 14.20 31.41 87.56
Special Provisions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Public Debt Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provision for royalty and the state of mineral rights 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Provisions 2.48 49.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase/(Decrease) in Provision for Civil Defence Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments for Free Provisions for Probable Risks 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Değer Düşüklüğü/İptali İle İlgili Düzeltmeler 2.06 -1.80 1.49 10.83 3.79 3.83 5.52 109.35 5.55 15.53
Adjustments for Decrease in Receivables Value 0.00 0.00 1.49 10.83 3.79 3.83 3.97 109.35 5.55 15.53
Adjustments for Decrease in Tangible Fixed Assets Value 0.00 -1.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments for Decrease in Value of Stock 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments for Interest (Income) Expenses 117.22 147.04 175.30 205.87 197.49 473.83 415.20 553.49 688.27 963.94
Adjustments for Interest Income -4.68 -5.94 -11.56 -9.23 -21.01 -28.63 -27.41 -37.52 -199.55 -314.79
Adjustments for Interest Expense 121.91 152.98 186.86 215.10 218.50 502.46 442.62 591.01 887.82 1,278.74
Deferred Financial Expense from Credit Purchases 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Unearned Financial Income from Credit Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments for Losses (Gains) Arised From Sale of Tangible Assets -1.27 0.00 0.57 0.19 -1.19 -2.16 -34.15 -8.84 137.33 3.50
Adjustments for Losses (Gains) Arised From Sale of Tangible Assets 0.00 0.00 0.57 0.19 -1.19 -2.16 -34.15 -8.84 137.33 3.50
Adjustments for Losses (Gains) Arised From Sales of Investment Property 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit/Loss from Foreign Currency Exchanges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments For Unrealised Foreign Exchange Losses (Gains) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Unrealized FX Differences Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments for Tax (Income) Expenses -11.91 -12.34 -13.61 -37.97 -58.72 25.87 62.51 16.68 -110.88 1,077.01
Financial Assets Sale Profit / Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments For Fair Value (Gains) Losses -0.99 -2.70 2.70 0.00 47.37 -22.60 -23.45 0.00 0.00 0.00
Adjustments for Fair Value (Gains) Losses on Derivative Financial Instruments -0.99 -2.70 2.70 0.00 47.37 -22.60 -23.45 0.00 0.00 0.00
Adjustments for Fair Value Losses (Gains) of Financial Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Income Except Banking Sector 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit from Sales of Investment Property 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tangible Non-Corrent Asset Exclusion Profit/Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Derivatives Valuation Profit/Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Time Deposit Interest Accruals 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments for Undistributed Profits of Investments Valued by Equity Method 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit from Sale of Securities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Profit Before Changes in Working Capital (+) 216.50 245.94 386.54 400.39 485.11 791.69 999.20 1,480.45 2,803.02 4,333.55
Change in Working Capital -133.34 -177.36 1.40 152.90 -129.07 -93.12 -67.89 256.38 886.86 580.12
Change in Trade Receivables -162.87 -144.83 -121.85 -35.31 -201.27 -90.99 -192.96 -307.56 -593.92 -2,087.31
Change in Trade Receivables to Related Parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Trade Receivables to Non-related Parties 0.00 0.00 0.00 -35.31 -201.27 -90.99 -192.96 -307.56 -593.92 -2,087.31
Change in Receivables from Related Parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Other Receivables 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Other Receivables to Non-Related Parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Receivables and Other Current Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Long-Term Receivables and Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Inventory -6.94 -10.89 -3.09 -6.29 -28.86 -11.32 -23.02 -171.79 -296.81 97.20
Change in Trade Debts 40.92 -3.98 96.30 200.83 156.09 45.63 165.96 572.04 1,403.35 1,853.44
Change in Trade Debts to Related Parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Trade Debts to Non-Related Parties 0.00 0.00 0.00 200.83 156.09 45.63 165.96 572.04 1,403.35 1,853.44
Change in Other Debts -14.47 -17.65 56.00 -6.74 22.29 22.64 150.23 44.23 266.04 689.19
Other Debts to Non-Related Parties 0.00 0.00 0.00 -6.74 0.00 0.00 0.00 44.23 266.04 689.19
Ödenen kurumlar ve gelir vergileri 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Increase/Decrease in Working Capital (+)/(-) 10.02 0.00 -25.96 0.40 -77.31 -59.08 -168.11 119.46 108.20 27.60
Decrease/(Increase) in Other Assets Related to Operations 0.00 0.00 -25.96 0.40 -77.31 -59.08 -168.11 119.46 108.20 27.60
Decrease/(Increase) in Other Liabilities Related to Operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Expenses Paid by Cash 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Provisions for Ret, Management Premium and Long-Term Reinforcement Plan Payments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Ödenen birikmiş izin tutarı 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Decrease (Increase) in Derivative Financial Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Received Bad Debts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Government Reinforcements and Aids 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Derivative Receivables 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Paid Fines 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments for Decrease (Increase) in Prepaid Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Ödenen engelli istihdamı eksikliği ceza tutarı 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Ödenen devlet hakkı 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Ödenen kıdem tazminatı 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash from Core Operations (+) 83.16 68.59 387.94 553.28 356.04 698.57 931.31 1,736.83 3,689.88 4,913.67
Tax Payments (-) -9.20 -9.81 -8.43 -9.13 -12.88 -19.74 -21.07 -64.37 -46.24 -359.67
Net Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interests Received 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interests Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Paymenst Related to Employee benefits -4.31 -4.57 -4.36 -6.44 -7.46 -13.59 -12.18 -11.43 -26.31 -77.50
Provisions for Ret Payments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Compensation Payments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Provisions Payments -1.71 -4.36 -4.99 -1.37 -5.01 -3.05 0.00 -9.02 8.23 -1.27
İhbar Tazminatı, Kıdem Teşvik ve Yönetici Primleri Ödemeleri 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Seniority Incentive Bonus Payments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Personnel Expenses Provisions Payment 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Paid Penalties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Increases/Decreases 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Flows from Investments -175.07 -101.42 -18.48 -270.79 -305.95 -222.83 -172.37 -522.61 -2,195.64 -1,821.58
Financial Expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Sales of Financial Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Purchase of Tangible and Intangible Fixed Assets -91.49 -94.93 -97.13 -236.50 -281.82 -173.22 -166.03 -493.20 -1,795.52 -1,371.65
Purchase of Tangible Assets -78.10 -94.93 -92.46 -229.13 -273.46 -160.45 -148.00 -458.40 -992.36 -1,272.22
Purchase of Intangible Assets -13.38 0.00 -4.67 -7.37 -8.36 -12.77 -18.04 -34.81 -803.17 -99.42
Sale of Tangible and Intangible Fixed Assets 2.27 -11.43 52.39 14.15 4.91 7.56 38.24 11.87 700.60 6.85
Sale of Tangible Assets 0.00 8.86 0.00 14.15 4.91 7.56 38.24 11.87 700.60 6.85
Cash outflow on acquisitions of tangible fixed assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tangible Asset Sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Received 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Outflows Arising From Capital Advance Payments to Associates and/or Joint Ventures -85.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Available-for-Sale and Valued with Equity Method Financial Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Financial Investments in Tradebook 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
The Cash Outflow from Purchase related to Gaining Control of Subsidiary 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Inflows from Sale of Shares of Subsidiaries that doesn't Cause Lose of Control 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -237.55 0.00
Cash Outflows Arising From Purchase of Shares or Capital Increase of Associates and/or Joint Ventures 0.00 0.00 -8.13 -10.41 -11.94 -5.98 0.00 0.00 0.00 0.00
Cash Outflows from Acquition of Investments Property 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash from Sales of Investment Property 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Securities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Advances and Loans -5.36 11.50 0.00 -47.27 -38.16 -82.22 -71.99 -41.28 -435.80 -507.42
Cash Advances and Loans Made to Related Parties, Classified as Investing Activities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Cash Advances and Loans Made to Other Parties, Classified as Investing Activities 0.00 11.50 0.00 -47.27 -38.16 -82.22 -71.99 0.00 -435.80 -507.42
Cash Receipts from Repayment of Advances and Loans Made to Other Parties 0.00 0.00 -27.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Shares in other firms or funds or the cash outflow for the acquisition of Debt Instruments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash from Investment Operations -175.07 -101.42 -18.48 -270.79 -305.95 -222.83 -172.37 -522.61 -2,195.64 -1,821.58
Free Cash Flow -107.33 -51.58 351.54 264.92 25.64 440.46 726.89 1,130.14 1,430.85 2,654.12
Finansman faaliyetlerinden kaynaklanan nakit akım: 229.65 -69.55 -332.95 -157.75 -20.17 -358.12 -657.56 -824.90 -2,010.11 -1,103.70
Cash Inflow from Financial Debts 430.77 297.21 190.80 406.27 474.30 752.47 643.43 470.00 1,106.19 3,670.22
Cash Inflow from Credit 222.60 347.18 151.38 366.53 405.04 382.97 227.23 0.00 230.89 420.22
Proceeds From Issue of Debt Instruments 208.18 0.00 39.42 39.74 69.26 369.51 416.20 470.00 875.30 3,250.00
Cash outflows related to borrowings -210.77 -153.00 -270.73 -304.95 -745.71 -420.36 -673.41 -569.06 -1,078.94 -1,844.45
Cash Outflow to Credit Payments -210.77 -153.00 -60.73 -124.95 -665.71 -233.07 -335.01 -246.54 -403.64 -424.45
Dividends Paid 0.00 0.00 0.00 0.00 -11.07 -1.50 0.00 -9.27 -51.30 -44.96
-ana ortaklık hissedarlarına 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-ana ortaklık dışı hissedarlara 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Received (+) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 37.52 156.44 243.89
Interest Paid (-) -122.11 -150.82 -188.18 -211.84 -217.92 0.00 -298.22 -395.80 -403.01 -550.87
Increase / Decrease in Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loans Received 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loans Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payments of Lease liabilities -36.23 -62.95 -60.05 -43.42 0.00 -346.73 -329.36 -358.28 -823.00 -855.24
Dividend Paid to Minority Interests and Capital Increase of Minority Interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Dividend Paid to Minority Interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Proceeds from Changes in Ownership Interests in Subsidiaries that Do Not Result in Loss of Control 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Accrual Adjustments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Cash Inflow -2.73 0.00 0.00 -3.82 0.00 0.00 0.00 0.00 -266.14 -447.05
Cash from Other Financial Operations -161.07 -213.77 -253.03 -259.08 -325.43 -688.72 -627.58 -716.57 -1,986.06 -2,884.52
Cash from Financial Operations 229.65 -69.55 -332.95 -157.75 -20.17 -358.12 -657.56 -824.90 -2,010.11 -1,103.70
Cash Net Increase / Decrease before Foreign Currency Translation Difference 122.32 -121.13 18.59 107.17 5.47 82.35 69.33 305.24 -579.26 1,550.41
Foreign Currency Translation Difference. Cash and Cash Benz. Impact on 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in Cash & Cash Equivalents 122.32 -121.13 18.59 107.17 5.47 82.35 69.33 305.24 -579.26 1,550.41
Exchange Difference of Cash and Cash Equivalents 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash at the beginning of the Quarter 90.90 213.22 92.09 110.68 217.85 223.32 305.66 375.00 1,841.22 1,261.96
Cash at the End of the Quarter 213.22 92.09 110.68 217.85 223.32 305.66 375.00 680.24 1,261.96 2,812.37
Interest Realization 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash at the End of the Quarter with Interest Realizations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
rasyonet://reports/open-financial?security=EREGL:IS&quarter=2019/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2010/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2018/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2017/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2016/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2015/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2014/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2013/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2012/YE&template=XI_29 rasyonet://reports/open-financial?security=EREGL:IS&quarter=2011/YE&template=XI_29

Summary B&S

mpark mpark (TL million)
VARLIKLAR ASSETS 2018 2019 2020 2021 2022 2023
Dönen Varlıklar Current Assets 1,479 1,722 2,185 2,741 6,965 8,460
Nakit ve Nakit Benzerleri Cash & Eq. 223 306 375 680 1,615 2,812
Ticari ve Diğer Alacaklar Trade and Other Receivables 921 1,021 1,198 1,381 3,087 3,735
Stoklar Inventory 80 90 113 285 1,174 1,077
Diğer Dönen Varlıklar Other Current Assets 254 305 498 395 1,089 835
Duran Varlıklar Fixed Assets 1,760 2,193 2,387 3,007 15,652 19,956
Finansal Yatırımlar Financial Assets 0 0 0 0 0 0
Maddi Duran Varlıklar Tangible Fixed Assets 837 776 764 1,015 3,510 3,866
Maddi Olmayan Duran Varlıklar Intangible Fixed Assets 468 551 677 702 4,458 4,493
Kullanım Hakları Right of Use Assets 0 235 257 539 4,486 7,241
Diğer Duran Varlıklar Other Fixed Assets 455 630 688 751 3,197 4,356
TOPLAM VARLIKLAR TOTAL ASSETS 3,239 3,914 4,572 5,748 22,616 28,415
KAYNAKLAR LIABILITIES 2018 2019 2020 2021 2022 2023
Kısa Vadeli Yükümlülükler Short Term Liabilities 1,509 1,938 2,387 3,318 7,968 8,887
Finansal Borçlar Financial Loans 367 675 756 1,006 2,713 3,062
Ticari Borçlar Trade Payables 808 821 987 1,546 3,951 4,082
Diğer Kısa Vadeli Yükümlülükler Other Current Liabilities 334 442 643 766 1,304 1,742
Uzun Vadeli Yükümlülükler Long Term Liabilities 1,154 1,738 1,836 1,761 4,751 6,636
Finansal Borçlar Financial Loans 769 860 944 620 401 1,073
Kiralama Borçları Lease Obligations 195 628 570 855 1,883 1,920
Diğer Uzun Vadeli Yükümlülükler Other 191 250 323 286 2,467 3,643
Özkaynaklar Shareholders' Equity 576 238 349 669 9,897 12,892
Ödenmiş Sermaye Paid-in Capital 208 208 208 208 208 208
Hisse Senedi İhraç Primleri Emission Premium 556 556 556 556 2,646 2,646
Dönem Net Kar/Zararı Term Profit (128) 36 65 290 4,742 4,530
Yedekler ve Diğer Özs. Kalemleri Reserves and Other Items (61) (562) (480) (385) 2,301 5,509
TOPLAM KAYNAKLAR TOTAL LIABILITIES 3,239 3,914 4,572 5,748 22,616 28,415

P&L

mpark mpark
(TL milyon) (TL million) 2018 2019 2020 2021 2022 2023
Satış Gelirleri Net Sales 3,132 3,704 4,015 5,796 18,903 22,449
Satışların Maliyeti (-) Cost Of Sales (2,644) (2,852) (3,058) (4,217) (14,016) (16,019)
BRÜT KAR (ZARAR) GROSS PROFIT (LOSS) 488 852 956 1,579 4,887 6,430
Pazarlama, Satış ve Dağıtım Giderleri (-) Marketing Selling & Distrib. Expenses 0 0 0 0 0 0
Genel Yönetim Giderleri (-) General Administrative Expenses (271) (309) (266) (561) (1,869) (2,189)
Araştırma ve Geliştirme Giderleri (-) Research & Development Expenses (-) 0 0 0 0 0 0
FAALİYET KARI (ZARARI) OPERATING PROFIT (LOSS) 216 543 690 1,017 3,018 4,241
Diğer Faaliyet Gelirleri (Giderleri) Income (Expense) from Other Operations 84 (20) 63 (2) (43) 130
Bağlı Ortaklıklardan Kar (Zarar) Profit (Loss) from Subsidiaries 0 0 0 0 0 0
Diğer Gelir (Giderler) Other Income (Expenses) Before Tax 1 131 116 9 823 67
Net Finansal Gelirler (Giderler) Net Financial Income (Expenses) (464) (572) (684) (652) 982 1,386
VERGİ ÖNCESİ KAR (ZARAR) PROFIT BEFORE TAX (162) 82 186 372 4,781 5,825
Sürdürülen Faaliyetler Vergi Geliri (Gideri) Taxation on Continuing Operations 59 (26) (63) (17) 111 (1,077)
Düzeltmeler Corrections 0 0 0 0 0 0
DÖNEM KARI (ZARARI) NET PROFIT AFTER TAXES (104) 56 123 355 4,891 4,748
Amortisman Giderleri Depreciation & Amortization 192 266 252 336 1,262 1,542
Kıdem Tazminatı Severance Payments 3 1 - 1 3 21 6
Finansman Giderleri Financial Expenses - 464 - 572 - 684 - 690 - 0 - 0
Yurtiçi Satışlar Domestic Sales - 0 - 0 - 0 - 0 - 0 - 0
Yurtdışı Satışlar Export Sales - 0 - 0 - 0 - 0 - 0 - 0
Net YPP (Bilanço) Net FX Position (Balance Sheet) - 519 - 448 - 459 54 699 815
Net YPP (Hedge Dahil) Net FX Position (Incl. Hedge) - 234 - 598 - 459 54 699 815
Brüt Kar Marjı Gross Margin 15.6% 23.0% 23.8% 27.2% 25.9% 28.6%
FVÖK Marjı EBIT Margin 6.9% 14.7% 17.2% 17.6% 16.0% 18.9%
FAVÖK Marjı EBITDA Margin 13.0% 21.8% 23.5% 23.3% 22.6% 25.8%
Net Kar Marjı Net Margin -3.3% 1.5% 3.1% 6.1% 25.9% 21.1%
Ciro Büyümesi Sales Growth 18.3% 8.4% 44.4% 18.8%
TÜFE CPI 20.3% 11.8% 14.6% 36.1%
Reel Büyüme Real Growth 5.7% -5.4% 6.1% 18.8%
Left blank due to shift to inflation accounting.

Financial Situation

mpark mpark (WCR figures are tentative. For exact numbers a detailed analysis is necessary.)
(TL milyon) (TL million) 2018 2019 2020 2021 2022 2023
Yatırılan Kaynak Invested Capital 2,097 2,651 2,941 3,436 17,361 22,591
Nakit ve Nakit Benzerleri Cash & Equivalent 223 306 375 680 1,615 2,812
İşletme Sermayesi İhtiyacı Working Capital Requirement 113 153 180 (251) 94 (177)
Duran Varlıklar Fixed Assets 1,760 2,193 2,387 3,007 15,652 19,956
Kullanım Hakları Right of Use Assets 0 235 257 539 4,486 7,241
Kullanılan Kaynak Capital Employed 2,097 2,651 2,941 3,436 17,361 22,591
Kısa Vadeli Finansal Borçlar S/T Financial Debt 367 675 756 1,006 2,713 3,062
Uzun Vadeli Kaynaklar L/T Financing 1,730 1,976 2,185 2,430 14,648 19,528
Uzun Vadeli Borçlar ve Yükümlülükler L/T Financial Debt 769 860 944 620 401 1,073
Kiralama ve Diğer Karşılıklar Lease Obligations & Provisions 386 878 892 1,141 4,350 5,563
Özkaynaklar Owners' Equity 576 238 349 669 9,897 12,892
Likidite Analizi Liquidity 2018 2019 2020 2021 2022 2023
Net Uzun Vadeli Finansman Net L/T Financing (30) (216) (201) (577) (1,003) (427)
İşletme Sermayesi İhtiyacı WCR 113 153 180 (251) 94 (177)
Likidite Rasyosu Liquidity Ratio n.m. n.m. n.m. n.m. n.m. n.m.
Cari Oran Current Ratio 0.98 0.89 0.92 0.83 0.87 0.95
Asit Test Rasyosu Acid Test Ratio 0.93 0.84 0.87 0.74 0.73 0.83
Finansman Yapısı Financial Structure 2018 2019 2020 2021 2022 2023
Toplam Borç/ Özsermaye Liabilities/OE 463% 1542% 1211% 759% 129% 120%
Finansal Borç/Özsermaye Financial Debt/OE 197% 644% 487% 243% 31% 32%
Net Borç/Özsermaye Net Debt/OE 158% 516% 380% 141% 15% 10%
Net Borç/Piyasa Değeri Net Debt/MCAP 2% 3% 4% 3% 4% 4%
Ödeme Gücü Payment Ability 2018 2019 2020 2021 2022 2023
Net Borç / FAVÖK Net Debt / EBITDA 2.2 1.5 1.4 0.7 0.4 0.2
Döviz Riski Currency Mismatch 2018 2019 2020 2021 2022 2023
Net Yabancı Para Pozisyonu (YPP) Net FX Position (Balance Sheet) -519 -448 -459 54 699 815
Net YPP (Hedge Dahil) Net FX Position (Including Hedge) -234 -598 -459 54 699 815
TL/US$ TL/US$ 5.28 5.94 7.42 13.33 18.70 29.44
Net YPP (Hedge Dahil) $mn Net FX Position (After hedge) $mn (44) (101) (62) 4 37 28

Operational Efficiency

(TL milyon) (TL million) * Only accounts receivable, inventory and accounts payable taken into account in finding WCR
mpark mpark 2018 2019 2020 2021 2022 2023
İşletme Sermayesi İhtiyacı WCR* 193 290 325 120 310 730
Ciro Sales 3,132 3,704 4,015 5,796 18,903 22,449
İSİ / Ciro (%) WCR/Sales % 6 8 8 2 2 3
Günlük Ciro Daily Sales 8.6 10.1 11.0 15.9 51.8 61.5
Ticari Alacaklar Trade Receivables 921 1,021 1,198 1,381 3,087 3,735
Alacak Tahsil Süresi Collection Period 107 101 109 87 60 61
Günlük SMM Daily COGS 7.2 7.8 8.4 11.6 38.4 43.9
Stoklar Inventory 80 90 113 285 1,174 1,077
Stok Taşıma Süresi Inventory Period 11 12 14 25 31 25
Günlük satınalımlar Daily Purchases 7.3 7.8 8.4 12.0 40.8 43.6
K.V. Ticari Borçlar Trade Payables 808 821 987 1,546 3,951 4,082
Ticari Borç Ödeme Süresi Payment Period 110 105 117 129 97 94
Nakit Döngüsü Cash-to-cash Period 8 7 6 (17) (7) (8)

Profitability

(TL milyon) (TL million) 2018 2019 2020 2021 2022 2023
Ciro Büyümesi Sales Growth 18% 8% 44% 19%
Reel Büyüme Real Growth 6% -5% 6% 19%
Satışlar Sales 3,132 3,704 4,015 5,796 18,903 22,449 Sales 3,132 22,449
Faaliyet karı (FVÖK) EBIT 216 543 690 1,017 3,018 4,241 CPI Avg. 363.13 1488.91
FAVÖK EBITDA 408 809 942 1,353 4,280 5,784 Nominal growth 617%
Net kar EAT (104) 56 123 355 4,891 4,748 Inflation 310%
Özsermaye S.Equity 576 238 349 669 9,897 12,892 Real growth 75%
Yatırılan kaynak Invested Capital 2,097 2,416 2,684 2,897 12,875 15,349 CAGR (2018-2023) 11.8%
Net kar marjı Net margin -3.3% 1.5% 3.1% 6.1% 25.9% 21.1%
Faaliyet kar marjı EBIT margin 6.9% 14.7% 17.2% 17.6% 16.0% 18.9%
FAVÖK marjı EBITDA margin 13.0% 21.8% 23.5% 23.3% 22.6% 25.8%
2018 2019 2020 2021 2022 2023
Özsermaye karlılığı (ROE) ROE -18.0% 23.6% 35.3% 53.1% 49.4% 36.8%
Faaliyet kar marjı EBIT margin 6.9% 14.7% 17.2% 17.6% 16.0% 18.9%
Sermaye devir hızı Capital turnover 1.49 1.53 1.50 2.00 1.47 1.46
Faiz ve Diğer Gelir(Gider) etkisi Financial cost n.m. 0.15 0.27 0.37 1.58 1.37
Finansal kaldıraç Fin. leverage 3.64 10.13 7.69 4.33 1.30 1.19
Vergi etkisi Tax effect 0.64 0.68 0.66 0.96 1.02 0.82
Özsermaye karlılığı (ROE) ROE -18.0% 23.6% 35.3% 53.1% 49.4% 36.8%
Yatırılan kaynak karlılığı ROIC 10.3% 22.5% 25.7% 35.1% 23.4% 27.6%
Finansman Etkisi Fin. multiplier n.m. 1.53 2.07 1.58 2.06 1.64
Vergi Etkisi Tax effect 0.64 0.68 0.66 0.96 1.02 0.82
Risksiz Getiri Rf 18.5% 17.1% 11.7% 17.5% 64.3% 64.8%
Borçsuz beta ß Unlevered 1 1 1 1 1 1
Borçlu beta ß Levered 2.6 6.2 4.9 2.9 1.3 1.3
Hisse senedi risk primi ERP 5% 5% 5% 5% 5% 5%
Sermaye Maliyeti (COE) COE 31.4% 47.9% 36.2% 32.2% 70.5% 71.1%
ROE-COE ROE-COE -49.4% -24.3% -0.9% 20.9% -21.1% -34.2%
CPI used instead of Rf
Choose beta as 0,5 for staples, 1 for market-like, 1,25 for discretionary sectors

Cash Flow

(TL milyon) (TL million) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
A. Faaliyetlerden Net Nakit Akımı A. NET OPERATING CASH FLOW (NOCF) 68 50 370 536 332 663 899 1,653 3,626 4,476
Satış Gelirleri Net sales 1,518 1,843 2,160 2,576 3,132 3,704 4,015 5,796 18,903 22,449
Satışların Maliyeti (-) COGS (-) (1,240) (1,562) (1,854) (2,171) (2,644) (2,852) (3,058) (4,217) (14,016) (16,019)
Faaliyet Giderleri (-) Selling, general, and administrative expenses (-) (34) (167) (97) (193) (187) (329) (203) (563) (1,912) (2,059)
Amortisman ve Kıdem Tazminatı Karşılığı(+) Depreciation & Provision for Indemnity Payment (+) 105 133 155 179 195 267 251 339 1,283 1,548
Vergi gideri (-) Tax expense (-) (9) (10) (8) (9) (13) (20) (21) (64) (46) (360)
Diğer Other (139) (10) 12 0 (21) (14) (17) 106 (1,472) (1,665)
Karlılık bileşeni Margin component 201 227 369 383 461 756 967 1,396 2,740 3,896
İşletme Sermayesi Değişimi (-) Change in working capital requirement (-) (133) (177) 1 153 (129) (93) (68) 256 887 580
Yatırım Bileşeni (-) Investment component (-) (133) (177) 1 153 (129) (93) (68) 256 887 580
B. Yatırımlardan Net Nakit Akımı B. NET CASH FLOW FROM INVESTING ACTIVITIES (175) (101) (18) (271) (306) (223) (172) (523) (2,196) (1,822)
C. Finansman Faaliyetlerinden Nakit Akımı C. NET CASH FLOW FROM FINANCING ACTIVITIES 230 (70) (333) (158) (20) (358) (658) (825) (2,010) (1,104)
+ Borçlanma Cash inflow from financial debt 431 297 191 406 474 752 643 470 1,106 3,670
+ Borç ödeme Cash outflows related to borrowings (211) (153) (271) (305) (746) (420) (673) (569) (1,079) (1,844)
- Faiz Net interest expense (122) (151) (188) (212) (218) 0 (298) (358) (247) (307)
- Temettü Dividend payments 0 0 0 0 (11) (2) 0 (9) (51) (45)
Diğer faaliyetlerden nakit akımı Cash from other financial operations 132 (63) (65) (47) 480 (689) (329) (358) (1,739) (2,578)
Toplam Nakit Akımı (A+B+C) TOTAL NET CASH FLOW (A + B + C) 122 (121) 19 107 5 82 69 305 (579) 1,550
Başlangıç nakit Opening cash 213 92 111 218 223 306 375 680 1,262
Kapanış nakit Closing cash 213 92 111 218 223 306 375 680 1,262 2,812
Fark Difference (121) 19 107 5 82 69 305 582 1,550
Hata Foreign Currency Translation Difference (0) 0 0 (0) 0 (0) 0 (1,161) 0
NAKİT AKIMI ÖZETİ CASH FLOW SUMMARY 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Karlılık bileşeni Margin Component 201 227 369 383 461 756 967 1,396 2,740 3,896
Yatırım Bileşeni (-) Operational Investment Component (133) (177) 1 153 (129) (93) (68) 256 887 580
A. Faaliyetlerden Net Nakit Akımı NOCF 68 50 370 536 332 663 899 1,653 3,626 4,476
B. Yatırımlardan Net Nakit Akımı NICF (175) (101) (18) (271) (306) (223) (172) (523) (2,196) (1,822)
SERBEST NAKİT AKIMI Free Cash Flow (107) (52) 352 265 26 440 727 1,130 1,431 2,654

Valuation

(Assume date is 1.1.2023) 2022A 2023F 2024F 2025F 2026F 2027F 2028F 2029F 2030F 2031F 2032F