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.