HACI ÖMER SABANCI HOLDİNG A.Ş.
CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD 1 JANUARY - 30 SEPTEMBER 2022
(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 | ORGANISATION AND OPERATIONS OF THE GROUP ............................................................... | 7-8 |
NOTE 2 | BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS ....................... | 9-14 |
NOTE 3 | BUSINESS COMBINATIONS ........................................................................................................... | 15-16 |
NOTE 4 | SEGMENT REPORTING.................................................................................................................... | 17-37 |
NOTE 5 | FINANCIAL ASSETS......................................................................................................................... | 38-40 |
NOTE 6 | FINANCIAL LIABILITIES................................................................................................................. | 41-42 |
NOTE 7 | LEASE LIABILITIES.......................................................................................................................... | 42-43 |
NOTE 8 | OTHER RECEIVABLES AND PAYABLES...................................................................................... | 44 |
NOTE 9 | INVESTMENTS ACCOUNTED THROUGH EQUITY METHOD................................................... | 44-46 |
NOTE 10 | PROPERTY, PLANT AND EQUIPMENT ......................................................................................... | 47-48 |
NOTE 11 | INTANGIBLE ASSETS ..................................................................................................................... . | 49-50 |
NOTE 12 | RIGHT OF USE ASSETS................................................................................................................... . | 51-52 |
NOTE 13 | GOODWILL ........................................................................................................................................ | 53 |
NOTE 14 | PROVISIONS, CONTINGENT ASSETS AND LIABILITIES .......................................................... | 53-56 |
NOTE 15 | COMMITMENTS................................................................................................................................ | 57-60 |
NOTE 16 | OTHER ASSETS AND LIABILITIES................................................................................................ | 61 |
NOTE 17 | EQUITY............................................................................................................................................... | 61-63 |
NOTE 18 | ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS............................................... | 63-64 |
NOTE 19 | OTHER INCOME AND EXPENSES FROM OPERATING ACTIVITIES ....................................... | 65 |
NOTE 20 | INCOME AND EXPENSES FROM INVESTING ACTIVITIES....................................................... | 66 |
NOTE 21 | FINANCIAL INCOME / EXPENSES................................................................................................. | 66 |
NOTE 22 | TAX ASSETS AND LIABILITIES..................................................................................................... | 67-71 |
NOTE 23 | DERIVATIVES ................................................................................................................................... | 72 |
NOTE 24 | RECEIVABLES FROM FINANCE SECTOR OPERATIONS........................................................... | 73-74 |
NOTE 25 | PAYABLES FROM FINANCE SECTOR OPERATIONS ................................................................. | 75 |
NOTE 26 | RELATED PARTY DISCLOSURES.................................................................................................. | 76 |
NOTE 27 | NATURE AND LEVEL OF RISKS DERIVED FROM FINANCIAL INSTRUMENTS................... | 77-80 |
NOTE 29 | EVENTS AFTER THE REPORTING PERIOD.................................................................................. | 81 |
HACI ÖMER SABANCI HOLDİNG A.Ş.
CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2022 AND 31 DECEMBER 2021
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)
Not Reviewed | Audited | ||
Note | 30 September | 31 December | |
ASSETS | References | 2022 | 2021 |
Current Assets | 651.195.988 | 465.289.463 | |
Cash and Cash Equivalents | 66.437.497 | 69.417.883 | |
Reserve Deposits with the Central Bank | 127.453.054 | 81.792.492 | |
of the Republic of Turkey | |||
42.340.554 | 40.134.206 | ||
Financial Investments | |||
- Fair Value Through Profit or Loss | 5.a | 9.722.972 | 11.288.001 |
- Fair Value Through Other Comprehensive Income | 5.b | 14.327.714 | 15.853.577 |
- At Amortized Cost | 5.c | 17.320.965 | 12.629.008 |
- Time Deposit | 5.d | 968.903 | 363.620 |
Trade Receivables | 6.754.737 | 4.254.881 | |
- Trade receivables from related parties | 258.367 | 203.792 | |
- Trade receivables from non-related parties | 6.496.370 | 4.051.089 | |
Receivables from Finance Sector Operations | 24 | 350.397.863 | 225.676.033 |
Other Receivables | 8 | 6.526.663 | 3.753.288 |
Derivative Financial Instruments | 23 | 14.907.151 | 23.646.983 |
Inventories | 13.815.133 | 7.520.997 | |
Prepaid Expenses | 11.508.626 | 2.353.369 | |
Deferred Insurance Expenses | 807.753 | 474.946 | |
Assets Related to Current Tax | 22 | 350.315 | 136.708 |
Other Current Assets | 16 | 9.624.022 | 5.433.104 |
650.923.368 | 464.594.890 | ||
Non-current Assets Held for Sale | 18 | 272.620 | 694.573 |
Non-current Assets | 501.320.584 | 354.474.326 | |
Financial Assets | 213.970.417 | 131.979.497 | |
- Fair Value Through Other Comprehensive Income | 5.b | 143.409.565 | 87.077.994 |
- At Amortized Cost | 5.c | 70.560.852 | 44.901.503 |
Trade Receivables | 1.404 | 6.086 | |
- Trade receivables from non-related parties | 1.404 | 6.086 | |
Receivables From Finance Sector Operations | 24 | 199.019.313 | 160.936.678 |
Other Receivables | 8 | 1.184.297 | 503.230 |
Derivative Financial Instruments | 23 | 42.004.177 | 27.349.132 |
Investments Accounted Through Equity Method | 9 | 11.804.604 | 8.763.569 |
Investment Property | 507.271 | 383.871 | |
Property, Plant and Equipment | 10 | 13.809.611 | 10.569.872 |
Right Of Use Assets | 12 | 2.711.795 | 1.980.324 |
Intangible Assets | 13.695.238 | 10.480.408 | |
- Goodwill | 13 | 4.400.344 | 2.522.764 |
- Other Intangible Asset | 11 | 9.294.894 | 7.957.644 |
Prepaid Expenses | 420.621 | 46.052 | |
Deferred Insurance Expenses | 830.420 | 642.071 | |
Deferred Tax Assets | 22 | 1.132.918 | 660.696 |
Other Non-current Assets | 16 | 228.498 | 172.840 |
Total Assets | 1.152.516.572 | 819.763.789 |
These consolidated financial statements have been approved for issue by the Board of Directors on 3 November 2022. General Assembly has the right to change these consolidated financial statements.
The accompanying notes form an integral part of these condensed consolidated financial statements.
1
HACI ÖMER SABANCI HOLDİNG A.Ş.
CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2022 AND 31 DECEMBER 2021
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)
Not Reviewed | Audited | ||
Note | 30 September | 31 December | |
LIABILITIES | References | 2022 | 2021 |
Current Liabilities | 846.483.410 | 606.207.659 | |
Short Term Borrowings | 6 | 39.848.825 | 26.193.026 |
Current Portion of Long-Term Borrowings | 6 | 41.072.154 | 27.179.115 |
Short Term Lease Liabilities | 7 | 560.996 | 382.607 |
Trade Payables | 14.462.154 | 8.739.683 | |
- Trade payables to related parties | 468.872 | 109.484 | |
- Trade payables to non-related parties | 13.993.282 | 8.630.199 | |
Payables from Finance Sector Operations | 25 | 682.753.162 | 495.202.504 |
Payables related to Employee Benefits | 315.775 | 133.906 | |
Other Payables | 8 | 29.634.934 | 16.992.367 |
Derivative Financial Instruments | 23 | 10.594.845 | 14.714.467 |
Deferred Income | 443.097 | 248.442 | |
Income Taxes Payable | 22 | 3.254.079 | 1.756.390 |
Short Term Provisions | 14.929.103 | 11.151.910 | |
- Short Term Provisions for Employee Benefits | 1.162.808 | 768.587 | |
- Insurance Technical Provisions | 14 | 12.682.068 | 9.328.281 |
- Other Short-Term Provisions | 14 | 1.084.227 | 1.055.042 |
Other Short-Term Liabilities | 16 | 8.606.106 | 3.513.242 |
846.475.230 | 606.207.659 | ||
Liabilities Classified as Held for Sale | 18 | 8.180 | - |
Long Term Liabilities | 141.246.858 | 109.951.948 | |
Long Term Borrowings | 6 | 72.176.641 | 64.396.093 |
Long Term Lease Liabilities | 7 | 2.511.426 | 1.844.517 |
Payables from Finance Sector Operations | 25 | 25.338.499 | 17.327.199 |
Other Payables | 8 | 14.501.975 | 7.145.569 |
Derivative Financial Instruments | 23 | 11.019.754 | 11.219.270 |
Government Incentives and Grants | 29.399 | - | |
Deferred Income | 298.162 | 221.404 | |
Long Term Provisions | 11.215.845 | 6.380.764 | |
- Long Term Provisions for Employee Benefits | 1.694.821 | 1.051.410 | |
- Insurance Technical Provisions | 14 | 7.685.547 | 4.766.880 |
- Other Long-Term Provisions | 14 | 1.835.477 | 562.474 |
Taxes and Funds Payable | 13.703 | 10.233 | |
Deferred Tax Liabilities | 22 | 3.630.064 | 1.382.161 |
Other Long-Term Liabilities | 16 | 511.390 | 24.738 |
EQUITY | 164.786.304 | 103.604.182 | |
Equity Attributable to The Parent | 17 | 81.532.858 | 51.416.916 |
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 | (1.426.659) | (298.646) |
Other Equity Shares | 25.461 | - | |
Other Comprehensive Income or Expenses That | |||
Will Not Be Reclassified to Profit or Loss | (394.453) | (238.606) | |
- Actuarial Gain/Loss | (394.453) | (238.606) | |
Other Comprehensive Income or Expenses That | |||
Will Be Reclassified to Profit or Loss | 9.151.709 | 3.521.468 | |
- Currency Translation Reserve | 17 | 9.987.101 | 6.690.649 |
- Gains/Losses on Hedge | 17 | (2.097.430) | (2.450.148) |
- Revaluation Reserve | 17 | 1.262.038 | (719.033) |
Restricted Reserves | 17 | 3.064.651 | 1.532.498 |
Retained Earnings | 38.407.391 | 29.378.702 | |
Net Income for the Period | 27.215.356 | 12.032.098 | |
Non-controlling Interests | 83.253.446 | 52.187.266 | |
TOTAL EQUITY AND LIABILITIES | 1.152.516.572 | 819.763.789 |
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 2022 AND 2021
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)
Not Reviewed | Not Reviewed | Not Reviewed | Not Reviewed | ||
1 January - | 1 January - | 1 July- | 1 July- | ||
Note | 30 September | 30 September | 30 September | 30 September | |
References | 2022 | 2021 | 2022 | 2021 | |
CONTINUING OPERATIONS | |||||
Sales (net) | 4 | 46.517.068 | 20.864.465 | 18.466.676 | 7.855.015 |
Cost of Sales (-) | 4 | (37.051.857) | (16.207.445) | (14.817.575) | (6.150.654) |
Gross Profit from Non-Financial | |||||
Operations | 9.465.211 | 4.657.020 | 3.649.101 | 1.704.361 | |
Interest, Premium, Commission and | |||||
Other Income | 4 | 107.908.844 | 38.106.257 | 46.248.567 | 15.514.776 |
Interest, Premium, Commission and | |||||
Other Expense (-) | 4 | (43.590.790) | (21.003.831) | (18.507.767) | (8.516.080) |
Gross Profit from Financial Operations | 64.318.054 | 17.102.426 | 27.740.800 | 6.998.696 | |
GROSS PROFIT | 73.783.265 | 21.759.446 | 31.389.901 | 8.703.057 | |
General and Administrative | |||||
Expenses (-) | (16.606.193) | (7.818.618) | (6.719.910) | (3.036.575) | |
Marketing Expenses (-) | (4.102.523) | (2.170.582) | (1.641.951) | (787.755) | |
Research and Development | |||||
Expenses (-) | (67.557) | (34.111) | (28.678) | (11.613) | |
Other Income from Operating | |||||
Activities | 19 | 8.142.110 | 1.636.943 | 3.216.843 | 549.860 |
Other Expense from Operating | |||||
Activities (-) | 19 | (3.884.556) | (1.419.679) | (1.521.202) | (501.203) |
Share of Profit of Investments | |||||
Accounted for Using the Equity | |||||
Method | 9 | 4.486.557 | 1.734.441 | 1.994.461 | 521.549 |
OPERATING PROFIT | 61.751.103 | 13.687.840 | 26.689.464 | 5.437.320 | |
Income from Investing Activities | 20 | 5.531.897 | 1.648.756 | 1.993.743 | 1.508.654 |
Expense from Investing Activities (-) | 20 | (3.171) | (8.517) | (87) | (6.738) |
OPERATING PROFIT BEFORE | |||||
FINANCIAL EXPENSES | 67.279.829 | 15.328.079 | 28.683.120 | 6.939.236 | |
Financial Income | 21 | 977.579 | 113.203 | 497.534 | 43.856 |
Financial Expenses (-) | 21 | (1.950.396) | (877.863) | (876.473) | (288.492) |
INCOME BEFORE TAX | |||||
FROM CONTINUING | |||||
OPERATIONS | 66.307.012 | 14.563.419 | 28.304.181 | 6.694.600 | |
Tax Expense from Continuing | |||||
Operations | |||||
Current Tax Expense | (13.791.935) | (2.758.894) | (8.730.707) | (1.452.980) | |
Deferred Tax Income/(Expense) | 22 | (111.698) | (121.601) | 2.755.306 | 223.875 |
PROFIT FOR THE PERIOD | |||||
FROM CONTINUING | |||||
OPERATIONS | 52.403.379 | 11.682.924 | 22.328.780 | 5.465.495 | |
DISCONTINUED OPERATIONS | |||||
Profit After Tax | |||||
From Discontinued Operations | (2.461) | (4.342) | (67) | (140) | |
PROFIT FOR THE PERIOD | 52.400.918 | 11.678.582 | 22.328.713 | 5.465.355 | |
ALLOCATION OF PROFIT | |||||
- Non-controlling Interests | 25.185.562 | 4.821.874 | 11.455.470 | 2.072.967 | |
- Equity Holders of the Parent | 27.215.356 | 6.856.708 | 10.873.243 | 3.392.388 | |
Earnings per share | |||||
- hundreds of ordinary shares (TRY) | 13,34 | 3,36 | 5,33 | 1,66 | |
Earnings per share from continuing | |||||
operations | |||||
- hundreds of ordinary shares (TRY) | 13,34 | 3,36 | 5,33 | 1,66 |
The accompanying notes form an integral part of these condensed consolidated financial statements.
.
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Haci Ömer Sabanci Holding AS published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 12:18:02 UTC.