AKSA ENERJİ ÜRETİM A.Ş.

AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2021 TOGETHER WITH INDEPENDENT AUDITOR'S REVIEW REPORT

INDEX

PAGE

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION .....................................

1-3

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS...............................................

4

INTERIM CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME .............

5

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY.......................................

6

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS .....................................................

7

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS..................................

8-54

NOTE 1

ORGANIZATION AND OPERATIONS OF THE GROUP

8-11

NOTE 2

BASIS OF PRESENTATION OF THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

11-21

NOTE 3

OPERATING SEGMENTS

22-23

NOTE 4

RELATED PARTY DISCLOSURE

23-26

NOTE 5

FINANCIAL INVESTMENTS

27

NOTE 6

TRADE RECEIVABLES AND PAYABLES

27-28

NOTE 7

BORROWINGS

28-30

NOTE 8

PROPERTY, PLANT AND EQUIPMENT

30-33

NOTE 9

RIGHT OF USE ASSETS

33-34

NOTE 10

COMMITMENTS

34-35

NOTE 11

SHARE CAPITAL, RESERVES AND OTHER EQUITY ITEMS

36-38

NOTE 12

REVENUE

39

NOTE 13

FINANCIAL INCOME

39

NOTE 14

FINANCIAL EXPENSES

40

NOTE 15

TAXATION

41-42

NOTE 16

EARNINGS PER SHARE

43

NOTE 17

FINANCIAL INSTRUMENTS

44-45

NOTE 18

NATURE AND LEVEL OF RISKS ARISING FROM FINANCIAL INSTRUMENTS

46-52

NOTE 19

FINANCIAL INSTRUMENTS (FAIR VALUE DISCLOSURES AND EXPLANATION ON

HEDGE ACCOUNTING)

52-53

NOTE 20

NOTES ON THE STATEMENT OF CASH FLOWS

53-54

NOTE 21

EVENTS AFTER THE REPORTING PERIOD

54

AKSA ENERJİ ÜRETİM A.Ş. AND ITS SUBSIDIARIES

Reviewed Condensed Consolidated Statement of Financial Position

As At 30 June 2021

(Amounts expressed in Turkish Liras ("TL"), unless otherwise stated.)

Reviewed/

Audited/

Current period

Prior period

ASSETS

Notes

30 June 2021

31 December 2020

Current assets

Cash and cash equivalents

465,762,054

314,171,908

Financial investments

5

957,572,000

-

Trade receivables

3,126,782,485

2,705,620,407

- Trade receivables from related parties

4

226,629,661

311,085,412

- Trade receivables from third parties

6

2,900,152,824

2,394,534,995

Other receivables

82,322,754

76,414,447

- Other receivables from related parties

4

44,433,803

42,317,908

- Other receivables from third parties

37,888,951

34,096,539

Derivative financial instrument

-

2,148,922

Inventories

154,629,972

138,322,794

Prepaid expenses

337,932,172

116,007,264

Current tax assets

12,324,786

37,623,113

Other current assets

104,182,556

73,474,659

Total current assets

5,241,508,779

3,463,783,514

Non-current assets

Financial investments

412,408

412,408

Other receivables

8,620,856

6,529,795

- Other receivables from third parties

8,620,856

6,529,795

Property, plant and equipment

8

6,430,486,926

5,655,050,521

Right-of-use assets

9

69,851,889

73,524,027

Intangible assets

164,388,949

115,884,555

- Other intangible assets

164,388,949

115,884,555

Prepaid expenses

950,322

2,289,464

Deferred tax asset

15

93,210,147

185,220,021

Total non-current assets

6,767,921,497

6,038,910,791

TOTAL ASSETS

12,009,430,276

9,502,694,305

The accompanying notes form an integral part of those condensed consolidated financial statements.

1

AKSA ENERJİ ÜRETİM A.Ş. AND ITS SUBSIDIARIES

Reviewed Condensed Consolidated Statement of Financial Position As At 30 June 2021

(Amounts expressed in Turkish Liras ("TL"), unless otherwise stated.)

Reviewed/

Audited/

Current period

Prior period

LIABILITIES

Notes

30 June 2021

31 December 2020

Current liabilities

Short-term borrowings

7

1,329,069,165

728,277,260

Current portion of long-term borrowings

1,254,030,007

1,292,953,512

Short-term finance lease liabilities

7

4,787,845

830,908

- Finance lease liabilities from related parties

2,949,962

-

- Finance lease liabilities from third parties

7

1,837,883

830,908

Short-term portion of long-term finance lease

liabilities

7

2,643,259

3,396,047

Other financial liabilities

7

-

11,181,406

Trade payables

952,477,934

779,913,222

- Trade payables to related parties

4

15,767,884

35,657,639

- Trade payables to third parties

6

936,710,050

744,255,583

Payables related to employee benefits

10,602,133

8,597,007

Other payables

230,809,622

197,359,546

- Other payables to third parties

230,809,622

197,359,546

Derivative financial instruments

59,837,847

60,716,151

Current tax liabilities

374,772,017

183,176,286

Short-term provisions

13,719,953

23,855,979

- Short-term provisions for employee benefits

2,009,512

980,104

- Other short-term provisions

11,710,441

22,875,875

Other current liabilities

8,508,981

7,406,200

Total current liabilities

4,241,258,763

3,297,663,524

Non-current liabilities

Long-term borrowings

7

1,647,299,337

834,709,520

Long-term finance lease liabilities

7

71,124,198

74,975,209

Other payables

14,508,667

72,221,252

- Other payables to third parties

14,508,667

72,221,252

Long-term provisions

6,749,333

9,346,433

- Long-term provisions for employee benefits

6,749,333

9,346,433

Deferred tax liabilities

15

483,306,479

588,434,184

Total non-current liabilities

2,222,988,014

1,579,686,598

TOTAL LIABILITIES

6,464,246,777

4,877,350,122

The accompanying notes form an integral part of those condensed consolidated financial statements.

2

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Aksa Enerji Uretim AS published this content on 18 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2021 11:33:01 UTC.