HACI ÖMER SABANCI HOLDİNG A.Ş.
CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD 1 JANUARY - 30 SEPTEMBER 2021
(ORIGINALLY ISSUED IN TURKISH)
CONTENTS | PAGE | |
CONDENSED CONSOLIDATED BALANCE SHEETS ....................................................... | 1-2 | |
CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS ....................... | 3 | |
CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE | ||
INCOME | ..................................................................................................................................... | 4 |
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY............... | 5 | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW ................................ | 6 | |
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.......... | 7-81 | |
NOTE 1 | ORGANIZATION AND OPERATIONS OF THE GROUP ............................................................... | 7-9 |
NOTE 2 | BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS ....................... | 9-14 |
NOTE 3 | BUSINESS COMBINATIONS ........................................................................................................... | 15-16 |
NOTE 4 | SEGMENT REPORTING.................................................................................................................... | 16-36 |
NOTE 5 | FINANCIAL ASSETS......................................................................................................................... | 37-41 |
NOTE 6 | FINANCIAL LIABILITIES................................................................................................................. | 42-44 |
NOTE 7 | LIABILITIES FROM LEASING TRANSACTIONS.......................................................................... | 44-45 |
NOTE 8 | OTHER RECEIVABLES AND PAYABLES...................................................................................... | 46 |
NOTE 9 | INVESTMENTS ACCOUNTED THROUGH EQUITY METHOD................................................... | 46-48 |
NOTE 10 | PROPERTY, PLANT AND EQUIPMENT ......................................................................................... | 49-50 |
NOTE 11 | INTANGIBLE ASSETS ..................................................................................................................... . | 51 |
NOTE 12 | USE RIGHT OF ASSETS................................................................................................................... . | 52-53 |
NOTE 13 | GOODWILL ........................................................................................................................................ | 54 |
NOTE 14 | PROVISIONS, CONTINGENT ASSETS AND LIABILITIES .......................................................... | 54-57 |
NOTE 15 | COMMITMENTS................................................................................................................................ | 58-61 |
NOTE 16 | OTHER ASSETS AND LIABILITIES................................................................................................ | 61 |
NOTE 17 | EQUITY............................................................................................................................................... | 61-64 |
NOTE 18 | ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS............................................... | 64-65 |
NOTE 19 | OTHER INCOME AND EXPENSES FROM OPERATING ACTIVITIES ....................................... | 66 |
NOTE 20 | INCOME AND EXPENSES FROM INVESTING ACTIVITIES....................................................... | 66-67 |
NOTE 21 | FINANCIAL INCOME/ EXPENSES.................................................................................................. | 67 |
NOTE 22 | TAX ASSETS AND LIABILITIES..................................................................................................... | 67-71 |
NOTE 23 | DERIVATIVE FINANCIAL INSTRUMENTS................................................................................... | 72 |
NOTE 24 | RECEIVABLES FROM FINANCE SECTOR OPERATIONS........................................................... | 73-74 |
NOTE 25 | PAYABLES FROM FINANCE SECTOR OPERATIONS ................................................................. | 75 |
NOTE 26 | RELATED PARTY DISCLOSURES.................................................................................................. | 75 |
NOTE 27 | NATURE AND LEVEL OF RISKS DERIVED FROM FINANCIAL INSTRUMENTS................... | 77-80 |
NOTE 28 | EVENTS AFTER THE REPORTING PERIOD.................................................................................. | 80 |
HACI ÖMER SABANCI HOLDİNG A.Ş.
CONDENSED CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2021 AND 31 DECEMBER 2020
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)
Not audited | Audited | ||
Note | 30 September | 31 December | |
References | 2021 | 2020 | |
ASSETS | |||
Current Assets | 360.414.746 | 269.491.344 | |
Cash and Cash Equivalents | 40.937.727 | 19.828.118 | |
Financial Investments | 36.027.971 | 35.799.568 | |
- Fair Value Through Profit or Loss | 5.a | 10.046.888 | 9.214.502 |
- Fair Value Through Other Comprehensive Income | 5.b | 13.102.900 | 9.837.424 |
- At Amortized Cost | 5.c | 12.521.398 | 16.731.294 |
- Time Deposit | 5.d | 356.785 | 16.348 |
Trade Receivables | 2.955.852 | 1.845.555 | |
Receivables From Finance Sector Operations | 24 | 190.884.864 | 150.108.617 |
Reserve Deposits with the Central | 65.860.722 | 42.604.370 | |
Bank of Republic of Turkey | |||
Other Receivables | 8 | 2.593.743 | 4.497.536 |
Derivative Financial Instruments | 23 | 5.721.521 | 8.463.520 |
Inventories | 5.119.336 | 3.761.354 | |
Prepaid Expenses | 2.016.891 | 1.204.269 | |
Deferred Commission Expenses | 215.466 | - | |
Current Tax Assets | 22 | 5.342 | 6.788 |
Other Current Assets | 16 | 7.594.636 | 1.109.423 |
359.934.071 | 269.229.118 | ||
Assets Classified as Held for Sale | 18 | 480.675 | 262.226 |
Non-Current Assets | 275.563.373 | 231.767.030 | |
Financial Investments | 102.183.694 | 73.524.030 | |
- Fair Value through Other Comprehensive Income | 5.b | 63.555.377 | 48.382.002 |
- At Amortized Cost | 5.c | 38.628.317 | 25.142.028 |
Trade Receivables | 663 | 566 | |
Receivables from Finance Sector Operations | 24 | 126.400.288 | 116.970.690 |
Other Receivables | 8 | 581.611 | 3.869.631 |
Derivative Financial Instruments | 23 | 16.734.325 | 14.455.362 |
Investments Accounted Through Equity Method | 9 | 8.170.811 | 8.298.372 |
Investment Property | 269.814 | 235.062 | |
Property, Plant and Equipment | 10 | 8.637.943 | 7.959.621 |
Right of Use Assets | 12 | 1.805.786 | 1.731.577 |
Intangible Assets | 9.904.800 | 3.875.970 | |
- Goodwill | 13 | 1.910.113 | 1.600.690 |
- Other Intangible Assets | 11 | 7.994.687 | 2.275.280 |
Prepaid Expenses | 25.633 | 17.368 | |
Deferred Commission Expenses | 30.252 | - | |
Deferred Tax Assets | 22 | 684.136 | 719.275 |
Other Non-Current Assets | 16 | 133.617 | 109.506 |
TOTAL ASSETS | 635.978.119 | 501.258.374 |
These consolidated financial statements have been approved for issue by the Board of Directors on 4 November 2021. The General Assembly has the authority to change the consolidated financial statements.
The accompanying notes form an integral part of these condensed consolidated financial statements.
1
HACI ÖMER SABANCI HOLDİNG A.Ş.
CONDENSED CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2021 AND 31 DECEMBER 2020
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)
Not audited | Audited | ||
Note | 30 June | 31 December | |
References | 2021 | 2020 | |
LIABILITIES | |||
Short Term Liabilities | 462.146.157 | 351.320.596 | |
Short Term Borrowings | 6 | 14.058.205 | 13.713.590 |
Current Portion of Long Term Borrowings | 6 | 18.549.097 | 20.053.065 |
Liabilities From Leasing Transactions | 7 | 371.191 | 334.423 |
Trade Payables | 5.737.203 | 5.023.674 | |
Payables From Finance Sector Operations | 25 | 393.778.498 | 292.375.186 |
Payables Related with Employee Benefits | 152.013 | 119.126 | |
Other Payables | 8 | 9.660.750 | 9.088.626 |
Derivative Financial Instruments | 23 | 2.996.917 | 5.795.534 |
Deferred Income | 225.354 | 209.063 | |
Income Taxes Payable | 22 | 1.791.770 | 1.171.845 |
Short Term Provisions | 10.759.077 | 1.209.636 | |
- Short Term Provisions for Employee Benefits | 622.256 | 522.275 | |
- Insurance Technical Provisions | 14 | 9.200.805 | - |
- Other Short Term Provisions | 14 | 936.016 | 687.361 |
Other Short Term Liabilities | 16 | 4.062.233 | 2.222.801 |
462.142.308 | 351.316.569 | ||
Liabilities Classified as Held for Sale | 18 | 3.849 | 4.027 |
Long Term Liabilities | 81.953.272 | 73.154.884 | |
Long Term Borrowings | 6 | 48.688.130 | 38.494.543 |
Liabilities From Leasing Transactions | 7 | 1.642.820 | 1.599.783 |
Payables from Finance Sector Operations | 25 | 12.067.168 | 18.066.046 |
Other Payables | 8 | 5.646.244 | 4.431.151 |
Derivative Financial Instruments | 23 | 8.141.555 | 9.108.320 |
Deferred Income | 156.824 | 137.410 | |
Long Term Provisions | 4.405.211 | 946.430 | |
- Long Term Provisions for Employee Benefits | 829.357 | 704.926 | |
- Insurance Technical Provisions | 14 | 3.142.812 | - |
- Other Long Term Provisions | 14 | 433.042 | 241.504 |
Deferred Tax Liabilities | 22 | 1.173.974 | 318.277 |
Other Long Term Liabilities | 16 | 31.346 | 52.924 |
EQUITY | 91.878.690 | 76.782.894 | |
Equity Attributable To The Parent | 17 | 44.814.968 | 37.996.499 |
Share Capital | 17 | 2.040.404 | 2.040.404 |
Adjustments to Share Capital | 3.426.761 | 3.426.761 | |
Share Premium | 17 | 22.237 | 22.237 |
Treasury shares (-) | 17 | (190.470) | (190.470) |
Accumulated Profits or Losses | |||
Will Not Be Reclassified to Profit or Loss | (169.379) | (150.921) | |
- Actuarial Gain/(Loss) | (169.379) | (150.921) | |
Accumulated Profits or Losses | |||
Will Be Reclassified to Profit or Loss | 1.861.870 | 1.135.944 | |
- Currency Translation Reserve | 17 | 3.572.358 | 2.684.551 |
- Gains/Losses on Hedge | 17 | (1.466.622) | (1.755.742) |
- Revaluation Reserve | 17 | (243.866) | 207.135 |
Restricted Reserves | 17 | 1.370.269 | 1.223.543 |
Retained Earnings | 29.596.568 | 25.721.428 | |
Net Income for the Period | 6.856.708 | 4.767.573 | |
Non-controlling Interests | 47.063.722 | 38.786.395 | |
TOTAL EQUITY AND LIABILITIES | 635.978.119 | 501.258.374 |
The accompanying notes form an integral part of these condensed consolidated financial statements.
2
HACI ÖMER SABANCI HOLDİNG A.Ş.
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 AND 2020
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)
Not audited | Not audited | Not audited | Not audited | ||
1 January - | 1 January - | 1 April- | 1 April- | ||
Note | 30 | 30 | 30 | 30 | |
September | September | September | September | ||
References | 2021 | 2020 | 2021 | 2020 | |
CONTINUING OPERATIONS | |||||
Sales (net) | 4 | 20.864.465 | 15.026.408 | 7.855.015 | 6.075.360 |
Cost of Sales (-) | 4 | (16.207.445) | (11.971.609) | (6.150.654) | (4.824.113) |
Gross Profit from Non-Financial Operations | 4.657.020 | 3.054.799 | 1.704.361 | 1.251.247 | |
Interest, Premium, Commission and Other | 38.106.257 | 27.689.174 | 15.514.776 | 9.150.482 | |
Income | 4 | ||||
Interest, Premium, Commission and Other | 4 | (21.003.831) | (14.938.132) | (8.516.080) | (4.661.217) |
Expense (-) | |||||
Gross Profit from Financial Operations | 17.102.426 | 12.751.042 | 6.998.696 | 4.489.265 | |
GROSS PROFIT | 21.759.446 | 15.805.841 | 8.703.057 | 5.740.512 | |
General and Administrative Expenses(-) | (7.818.618) | (6.556.782) | (3.036.575) | (2.124.770) | |
Marketing Expenses (-) | (2.170.582) | (1.753.719) | (787.755) | (618.681) | |
Research and Development Expenses (-) | (34.111) | (18.381) | (11.613) | (5.996) | |
Other Income from Operating Activities | 19 | 1.636.943 | 2.163.921 | 549.860 | 501.478 |
Other Expense from Operating Activities(-) | 19 | (1.419.679) | (1.933.219) | (501.203) | (451.769) |
Share of Profit of Investments Accounted for | |||||
Using the Equity Method | 9 | 1.734.441 | 1.422.346 | 521.549 | 594.055 |
OPERATING PROFIT | 13.687.840 | 9.130.007 | 5.437.320 | 3.634.829 | |
Income from Investing Activities | 20 | 1.648.756 | 40.457 | 1.508.654 | 14.865 |
Expense from Investing Activities (-) | 20 | (8.517) | (3.348) | (6.738) | (1.378) |
OPERATING PROFIT BEFORE | |||||
FINANCIAL EXPENSES | 15.328.079 | 9.167.116 | 6.939.236 | 3.648.316 | |
Financial Income | 21 | 113.203 | 68.606 | 43.856 | 14.685 |
Financial Expenses (-) | 21 | (877.863) | (817.328) | (288.492) | (290.350) |
INCOME BEFORE TAX | |||||
FROM CONTINUING OPERATIONS | 14.563.419 | 8.418.394 | 6.694.600 | 3.372.651 | |
Tax Expense from Continuing Operations | |||||
Current Tax Expense | (2.758.894) | (1.054.074) | (1.452.980) | 255.405 | |
Deferred Tax Income/(Expense) | 22 | (121.601) | (555.585) | 223.875 | (866.904) |
PROFIT FOR THE PERIOD | |||||
FROM CONTINUING OPERATIONS | 11.682.924 | 6.808.735 | 5.465.495 | 2.761.152 | |
DISCONTINUED OPERATIONS | |||||
Profit After Tax | |||||
From Discontinued Operations | (4.342) | 408 | (140) | 414 | |
PROFIT FOR THE PERIOD | 11.678.582 | 6.809.143 | 5.465.355 | 2.761.566 | |
ALLOCATION OF PROFIT | |||||
- Non-controlling Interests | 4.821.874 | 2.968.257 | 2.072.967 | 1.150.052 | |
- Equity Holders of the Parent | 6.856.708 | 3.840.886 | 3.392.388 | 1.611.514 | |
Earnings per share | |||||
- hundreds of ordinary shares (TRY) | 3,36 | 1,88 | 1,66 | 0,79 | |
Earnings per share from continuing operations | |||||
- hundreds of ordinary shares (TRY)) | 3,36 | 1,88 | 1,66 | 0,79 |
The accompanying notes form an integral part of these condensed consolidated financial statements.
3
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Haci Ömer Sabanci Holding AS published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2021 15:04:03 UTC.