AKSA ENERJİ ÜRETİM A.Ş.

AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED FINANCIAL

STATEMENTS FOR THE THREE-MONTH PERIOD

ENDED 31 MARCH 2023

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

8-51

NOTE 1

ORGANIZATION AND OPERATIONS OF THE GROUP

8-11

NOTE 2

BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS

12-19

NOTE 3

OPERATING SEGMENTS

20

NOTE 4

RELATED PARTY DISCLOSURE

21-24

NOTE 5

FINANCIAL INVESTMENTS

25

NOTE 6

TRADE RECEIVABLES AND PAYABLES

25-26

NOTE 7

BORROWINGS

26-28

NOTE 8

PROPERTY, PLANT AND EQUIOMENT

28-31

NOTE 9

RIGHT OF USE ASSETS

31-32

NOTE 10

COMMITMENTS

32-33

NOTE 11

SHARE CAPITAL, RESERVES AND OTHER EQUITY ITEMS

34-36

NOTE 12

REVENUE

37

NOTE 13

FINANCIAL INCOME

37

NOTE 14

FINANCIAL EXPENSES

38

NOTE 15

TAXATION

38-40

NOTE 16

EARNINGS PER SHARE

40

NOTE 17

FINANCIAL INSTRUMENTS

41-42

NOTE 18

NATURE AND LEVEL OF RISKS ARISING FROM FINANCIAL INSTRUMENTS

43-49

NOTE 19

FINANCIAL INSTRUMENTS (FAIR VALUE DISCLOSURES AND EXPLANATION ON

HEDGE ACCOUNTING)

49-50

NOTE 20

NOTES ON THE STATEMENT OF CASH FLOWS

50-51

NOTE 21

EVENTS AFTER THE REPORTING PERIOD

51

AKSA ENERJİ ÜRETİM A.Ş. AND ITS SUBSIDIARIES

Unaudited Condensed Consolidated Statement of Financial Position

As At 31 March 2023

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

Not reviewed/

Audited/

Currenct period

Prior period

ASSETS

Note

31 March 2023

31 December 2022

Current assets

Cash and cash equivalents

1,476,892,632

937,345,047

Financial investments

5

9,601,470

306,413,932

Trade receivables

8,769,868,494

9,217,429,677

- Trade receivables from related parties

4

1,736,420,487

2,434,575,270

- Trade receivables from third parties

6

7,033,448,007

6,782,854,407

Other receivables

59,576,417

58,309,339

- Other receivables from third parties

59,576,417

58,309,339

Derivative instruments

19,368,750

22,578,966

Inventories

427,479,727

244,345,731

Prepaid expenses

346,844,484

282,516,925

Current tax assets

69,901,600

148,313,121

Other current assets

367,632,530

198,850,061

Total current assets

11,547,166,104

11,416,102,799

Non-current assets

Financial investments

5

412,408

412,408

Other receivables

13,428,190

13,421,090

- Other receivables from third parties

13,428,190

13,421,090

Property, plant and equipment

8

21,629,033,007

21,295,294,157

Right-of-use assets

9

123,847,613

98,236,844

Intangible assets

370,897,707

345,839,331

- Other intangible assets

370,897,707

345,839,331

Prepaid expenses

10,169,451

21,061,830

Deferred tax asset

15

47,539,077

42,138,947

Total non-current assets

22,195,327,453

21,816,404,607

TOTAL ASSETS

33,742,493,557

33,232,507,406

1

AKSA ENERJİ ÜRETİM A.Ş. AND ITS SUBSIDIARIES

Unaudited Condensed Consolidated Statement of Financial Position

As At 31 March 2023

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

Not reviewed/

Audited/

Current period

Prior period

LIABILITIES

Note

31 March 2023

31 December 2022

Current liabilities

Short-term borrowings

7

2,130,595,222

2,393,385,155

Current portion of long-term borrowings

7

2,429,374,351

2,340,517,715

Short-term lease liabilities

7

11,332,285

2,735,575

- Lease liabilities from related parties

8,042,212

617,345

- Lease liabilities from third parties

3,290,073

2,118,230

Short-term portion of long-term lease liabilities

7

18,623,802

6,478,325

Trade payables

2,148,028,632

2,126,648,274

- Trade payables to related parties

4

95,084,694

152,735,060

- Trade payables to third parties

6

2,052,943,938

1,973,913,214

Payables related to employee benefits

50,921,361

23,516,545

Other payables

594,441,767

473,035,344

- Other payables to third parties

4

22,000

22,000

Derivative instruments

594,419,767

473,013,344

Current tax liabilities

299,649,945

572,709,698

Short-term provisions

27,056,055

23,912,401

- Short-term provisions for employee benefits

9,042,380

5,914,440

- Other short-term provisions

18,013,675

17,997,961

Other current liabilities

22,010,382

17,052,526

Total current liabilities

7,732,033,802

7,979,991,558

Non-current liabilities

Long-term borrowings

7

3,302,478,738

3,785,386,886

Long-term lease liabilities

7

85,280,490

79,967,136

Other payables

745,251,851

585,719,977

- Other payables to third parties

745,251,851

585,719,977

Long-term provisions

94,109,043

87,334,512

- Long-term provisions for employee benefits

27,642,263

23,317,250

- Other long-term provisions

66,466,780

64,017,262

Deferred tax liabilities

15

1,661,536,146

1,755,543,866

Total non-current liabilities

5,888,656,268

6,293,952,377

TOTAL LIABILITIES

13,620,690,070

14,273,943,935

2

AKSA ENERJİ ÜRETİM A.Ş. AND ITS SUBSIDIARIES

Unaudited Condensed Consolidated Statement of Financial Position

As At 31 March 2023

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

Not reviewed/

Audited/

Current period

Prior period

EQUITY

Note

31 March 2023

31 December 2022

Equity attributable to owners of the Company

Paid-in capital

11

1,226,338,236

1,226,338,236

Share premiums

11

10,726,734

10,726,734

Accumulated other comprehensive income not to be

reclassified in profit or loss

6,089,195,798

6,142,637,485

- Gains on revaluation of property, plant and

equipment

6,088,982,132

6,142,423,819

- Gains on remeasurements of the defined benefit

plans

213,666

213,666

Accumulated other comprehensive income that will

be reclassified in profit or loss

3,133,418,413

3,048,495,229

- Foreign currency translation differences

3,911,460,883

3,960,108,475

-Gain / (loss) of hedging reserve

(778,042,470)

(911,613,246)

Restricted reserves appropriated from profit

11

477,549,777

332,248,395

Prior years' profit

11

6,350,666,260

1,886,122,885

Net profit for the period

1,054,324,199

4,561,511,070

Total equity attributable to

equity holders of the Company

18,342,219,417

17,208,080,034

Non-controlling interests

11

1,779,584,070

1,750,483,437

Total equity

20,121,803,487

18,958,563,471

TOTAL LIABILITIES AND EQUITY

33,742,493,557

33,232,507,406

3

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Aksa Enerji Uretim AS published this content on 22 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2023 14:16:09 UTC.