(Convenience translation of
interim condensed consolidated financial statements originally issued in Turkish)
GÜBRE FABRİKALARI
TÜRK
ANONİM ŞİRKETİ
INTERIM CONDENSED
CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE PERIOD
JANUARY 1 - SEPTEMBER 30,
2022
Contents | Page | |
Interim consolidated statement of financial position | 1-2 | |
Interim consolidated statement of profit or loss and other comprehensive income | 3 | |
Interim consolidated statement of changes in equity | 4 | |
Interim consolidated statement of cash flows | 5 | |
Notes to interim condensed consolidated financial statements | 6-45 | |
1. | Group's Organization and Nature of Operations | 6-8 |
2. | Basis of Presentation of the Consolidated Financial Statements | 8-14 |
3. | Segment Reporting | 15-17 |
4. | Cash and Cash Equivalents | 17-18 |
5. | Borrowings | 19-20 |
6. | Trade Receivables and Payables | 21-22 |
7. | Other Receivables and Payables | 22-23 |
8. | Inventories | 23 |
9. | Property, Plant, Equipment | 23-26 |
10. | Intangible Assets | 27 |
11. | Commitments | 28 |
12. | Provisions, Contingent Assets and Liabilities | 28-30 |
13. | Revenue and cost of Sales | 31 |
14. | Other Operating Income and Expenses | 31-32 |
15. | Earnings Per Share | 32 |
16. | Related Parties Transactions | 32-34 |
17. | Financial Investments | 34 |
18. | Employee Benefits | 35 |
19. | Prepaid Expenses and Deferred Income | 36 |
20. | Equity | 36-37 |
21. | Income Taxes (Including Deferred Assets and Liabilities) | 37-40 |
22. | Financial Instruments and Financial Risk Management | 41-43 |
23. | Business Combination | 44 |
24. | Derivative Financial Instruments | 44-45 |
25. | Subsequent Events | 45 |
(Convenience translation of interim condensed consolidated financial statements originally issued in Turkish)
GÜBRE FABRİKALARI TÜRK ANONİM ŞİRKETİ
Interim consolidated statement of financial position as of September 30, 2022 (Amounts expressed in Turkish Lira ("TL") unless otherwise indicated.)
Audited | |||
September 30, | December 31, | ||
Notes | 2022 | 2021 | |
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | 4 | 2.039.257.175 | 1.179.720.584 |
Financial investments | 17 | 483.903.726 | 191.032.590 |
Trade receivables | |||
- Trade receivables from related parties | 16 | 1.033.880.807 | 1.248.779.873 |
- Trade receivables from third parties | 6 | 1.681.089.445 | 659.621.649 |
Other receivables | |||
- Other receivables from third parties | 7 | 437.029.511 | 230.134.594 |
Inventories | 8 | 5.243.201.584 | 5.018.321.850 |
Prepaid expenses | 19 | 223.454.220 | 590.944.195 |
Derivative financial instruments | 24 | -- | 39.424.793 |
Assets related to the current period taxes | 21 | 73.874.327 | 52.859 |
Other current assets | 68.474.748 | 101.697.254 |
Total current assets | 11.284.165.543 | 9.259.730.241 | |
Non-current assets | |||
Financial investments | 17 | 29.928.233 | 22.967.162 |
Trade receivables | |||
-Trade receivables from third parties | 1.439.263 | -- | |
Other receivables | |||
- Other receivables from third parties | 7 | 13.301.663 | 18.937.471 |
Investments valued by equity method | 115.102.598 | 40.676.021 | |
Investments properties | 191.215.160 | 191.478.293 | |
Property, plant and equipment | 9 | 5.013.748.366 | 3.081.727.065 |
Intangible assets | 10 | ||
-Goodwill | 184.643.874 | 119.358.609 | |
-Other intangible assets | 220.072.431 | 82.712.134 | |
Prepaid expenses | 19 | 483.970.241 | 232.022.895 |
Deferred tax assets | 21 | -- | -- |
Total non-current assets | 6.253.421.829 | 3.789.879.650 | |
Total assets | 17.537.587.372 | 13.049.609.891 |
The accompanying notes form an integral part of these consolidated financial statements.
(1)
(Convenience translation of interim condensed consolidated financial statements originally issued in Turkish)
GÜBRE FABRİKALARI TÜRK ANONİM ŞİRKETİ
Interim consolidated statement of financial position as of September 30, 2022 (Amounts expressed in Turkish Lira ("TL") unless otherwise indicated.)
Audited | |||
September 30, | December 31, | ||
Notes | 2022 | 2021 | |
LIABILITIES | |||
Current liabilities | |||
Short-term borrowings | 5 | 4.401.999.423 | 2.559.498.555 |
Trade payables | |||
-Due to related parties | 16 | 7.820.318 | 7.177.456 |
-Due to third parties | 6 | 3.916.734.759 | 4.696.694.049 |
Payables due to employee benefits | 18 | 98.398.839 | 77.065.830 |
Other payables | |||
Other payables to third parties | 7 | 298.650.868 | 192.789.251 |
Deferred income | 19 | 145.303.667 | 752.793.129 |
Liabilities related to current period tax | 21 | 85.523.475 | 72.397.614 |
Short-term provisions | |||
-Short-term provisions for employee benefits | 18 | 73.119.597 | 51.430.512 |
-Othershort-term provisions | 12 | 480.629.235 | 189.136.960 |
Derivative Financial Instruments | 24 | 31.305.046 | -- |
Total short-term liabilities | 9.539.485.227 | 8.598.983.356 | ||
Long-term liabilities | ||||
Long-term borrowings | 5 | 51.793.718 | 8.354.465 | |
Long-term provisions | ||||
- Long-term provisions for employee benefits | 18 | 514.252.488 | 338.204.352 | |
Deferred tax liability | 21 | 112.483.828 | 75.809.339 | |
Total long-term liabilities | 678.530.034 | 422.368.156 | ||
Total liabilities | 10.218.015.261 | 9.021.351.512 | ||
Shareholders' equity | ||||
Share capital | 20 | 334.000.000 | 334.000.000 | |
Accumulated other comprehensive income / expense not to be | ||||
reclassified to profit or loss |
- Shares of other comprehensive income of investments accounted for using the equity method that will not be classified in
profit or loss | 5.403.003 | 6.243.916 | |
-Impairment on property, plant and equipment | 549.972.967 | 549.972.967 | |
-Defined benefit plans re-measurement losses | (12.088.505) | (2.811.836) | |
Accumulated other comprehensive income / expense to be | |||
reclassified to profit or loss | |||
-Foreign currency translation differences | 818.045.706 | 332.976.445 | |
Restricted reserves from profit | |||
- Legal reserves | 20 | 68.182.652 | 53.838.737 |
Prior year profit | 1.818.503.203 | 921.268.125 | |
Current period profit / (loss) | 865.718.362 | 523.125.635 | |
Shareholders' equity | 4.447.737.388 | 2.718.613.989 | |
Non-controlling interests | 2.871.834.723 | 1.309.644.390 | |
Total shareholders' equity | 7.319.572.111 | 4.028.258.379 | |
Total liabilities and equities | 17.537.587.372 | 13.049.609.891 |
The accompanying notes form an integral part of these consolidated financial statements.
(2)
(Convenience translation of Consolidated Financial Statements originally issued in Turkish)
GÜBRE FABRİKALARI TÜRK ANONİM ŞİRKETİ
Interim consolidated Statements of Profit or Loss and Other Comprehensive Income for the interim period ended September 30, 2022
(Amounts expressed in Turkish Lira ("TL") unless otherwise indicated.)
January 1- | January 1- | July 1- | July 1- | ||
Notes | September 30, 2022 | September 30, 2021 | September 30, 2022 | September 30, 2021 | |
Sales | 13 | 19.898.030.743 | 6.216.824.037 | 6.492.385.203 | 2.367.118.131 |
Cost of sales | 13 | (16.274.509.565) | (4.898.506.478) | (5.336.466.959) | (1.960.240.222) |
Gross profit | 3.623.521.178 | 1.318.317.559 | 1.155.918.244 | 406.877.909 | |
General and administrative expense (-) | (372.076.154) | (162.157.987) | (172.689.307) | (57.619.104) | |
Marketing, selling and distribution | |||||
expense (-) | (512.250.051) | (251.428.170) | (167.992.102) | (61.046.615) | |
Other operating income | 14 | 1.039.778.513 | 319.732.005 | 166.760.902 | 101.541.329 |
Other operating expenses (-) | 14 | (2.460.820.029) | (679.536.928) | (534.713.911) | (215.988.453) |
Operating profit | 1.318.153.457 | 544.926.479 | 447.283.826 | 173.765.066 | |
Income from investment activities | 3.955.442 | 6.901.936 | 2.038.511 | 347.101 | |
Expenses from investment activities | (18.217) | (96.578) | (17.977) | -- | |
Profit / (loss) from investments accounted | |||||
by equity method | 75.267.491 | 1.865.097 | (11.315.259) | (1.723.203) | |
Operating profit before financial | |||||
income / (expense) | 1.397.358.173 | 553.596.934 | 437.989.101 | 172.388.964 | |
Financial income | 712.508.055 | 208.768.905 | 228.548.643 | 73.641.040 | |
Financial expense | (778.828.001) | (352.417.543) | (148.253.553) | (137.111.011) | |
Gain / (loss) from net monetary position | 197.778.187 | (27.943.015) | 140.529.848 | (31.576.048) | |
Profit before tax from continuing | |||||
operations | 1.528.816.414 | 382.005.281 | 658.814.039 | 77.342.945 | |
- Current period tax (expense) | 21 | (77.454.542) | (29.912.986) | (435.526) | (5.389.514) |
- Deferred tax (expense) / income | 21 | (32.186.163) | (62.413.030) | (55.007.713) | 2.404.848 |
Total tax (expense) / income | (109.640.705) | (92.326.016) | (55.443.239) | (2.984.666) | |
Current period profit / (loss) | 1.419.175.709 | 289.679.265 | 603.370.800 | 74.358.279 | |
Distribution of income for the period | |||||
Non-controlling interests | 553.457.347 | (18.086.576) | 244.606.142 | 24.419.252 | |
Attributable to equity holders of the parent | 865.718.362 | 307.765.841 | 358.764.658 | 49.939.027 | |
Gain / (Loss) per share (kr) | 15 | 2,592 | 0,921 | 1,074 | 0,150 |
Other comprehensive income | |||||
Items not to be reclassified to profit or | |||||
loss | |||||
Tangible asset revaluation increases of | (840.913) | 6.110.400 | -- | -- | |
investments valued by equity method | |||||
Defined benefit plans re-measurement gains | (11.595.836) | (1.155.458) | 3.131.645 | (1.054.828) | |
Tax effect of other comprehensive | |||||
income/expense not to be reclassified to profit | 2.319.167 | 231.092 | (626.329) | 210.966 | |
or loss | |||||
Items to be reclassified to profit or loss | |||||
Foreign currency translation differences | 1.085.673.321 | 793.264.348 | (590.743.547) | 126.227.268 | |
Other comprehensive (expense) | 1.075.555.739 | 798.450.382 | (588.238.231) | 125.383.406 | |
Total comprehensive income / (expense) | 2.494.731.448 | 1.088.129.647 | 15.132.569 | 199.741.685 | |
Distribution of total comprehensive income | |||||
/(income) | |||||
Non-controlling interests | 1.154.061.407 | 378.864.208 | (11.377.874) | 90.848.719 | |
Attributable to equity holders of the | |||||
parent | 1.340.670.041 | 709.265.439 | 26.510.443 | 108.892.966 |
The accompanying notes form an integral part of these consolidated financial statements.
(3)
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Gubre Fabrikalari TAS published this content on 23 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2022 13:04:07 UTC.