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MENDERES TEKSTIL SANAYI VE TICARET ANONIM SIRKETI

(MNDRS)
  Report
End-of-day quote BORSA ISTANBUL  -  2022-12-05
9.390 TRY   -3.10%
11/24Menderes Tekstil Sanayi Ve Ticaret Anonim Sirketi : 30.09.2022 Financial Statements
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08/18Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
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Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi : 30.09.2022 Financial Statements

11/24/2022 | 08:34am EST

MENDERES TEKSTİL SANAYİ VE TİCARET A.Ş.

CONSOLIDATED FINANCIAL STATEMENTS

AND AUDITORS' REVIEW REPORT

FOR THE INTERIM PERIOD ENDED AT 30 SEPTEMBER 2022

CONTENTS

PAGE

Consolidated Financial Statements

1-2

Consolidated Income Statements and Other Comprehensive Income Statements

3-4

Consolidated Changes in Equity Statements

5

Consolidated Cash Flows Statements

6-7

Notes to the Consolidated Financial Statements

8-81

NOTE 1

Organization and Nature of Activities………………………………………………………………………………………………………

8-9

NOTE 2

Basis of Presentation of Financial Statements………………………………………………………………………………………………

10-28

NOTE 3

Segment Reporting…………………………………………………………………………………………………………………………

29-32

NOTE 4

Cash and Cash Equivalents …………………………………………………………………………………………………………………

33

NOTE 5

Financial Investments………………………………………………………………………………………………………………………

33

NOTE 6

Related Party Transactions …………………………………………………………………………………………………………………

34-38

NOTE 7

Trade Receivables and Trade Payables………………………………………………………………………………………………………

39-40

NOTE 8

Financial Borrowings………………………………………………………………………………………………………………………

41-43

NOTE 9

Other Receivables and Payables……………………………………………………………………………………………………………

44

NOTE 10

Derivative Instruments………………………………………………………………………………………………………………………

45

NOTE 11

Inventories……………………………………………………………………………………………………………………………………

45

NOTE 12

Biological Assets……………………………………………………………………………………………………………………………

45

NOTE 13

Prepaid Expenses and Deferred Income……………………………………………………………………………………………………

46

NOTE 14

Current Period Tax Income Assets…………………………………………………………………………………………………………

46

NOTE 15

Investments Valued with Equity Pick-up Method……………………………………………………………………………………………

47

NOTE 16

Investment Properties………………………………………………………………………………………………………………………

48

NOTE 17

Tangible Fixed Assets ………………………………………………………………………………………………………………………

49-50

NOTE 18

Right of Use Assets …………………………………………………………………………………………………………………………

50

NOTE 19

Intangible Assets ……………………………………………………………………………………………………………………………

51

NOTE 20

Provisions, Contingent Assets and Liabilities………………………………………………………………………………………………

52-54

NOTE 21

Short Term Provisions………………………………………………………………………………………………………………………

55

NOTE 22

Employee Benefit Liabilities…………………………………………………………………………………………………………………

56

NOTE 23

Other Current Assets and Liabilities…………………………………………………………………………………………………………

56

NOTE 24

Share Capital…………………………………………………………………………………………………………………………………

56-60

NOTE 25

Sales and Cost of Sales………………………………………………………………………………………………………………………

61-63

NOTE 26

Research and Development General Administrative Expenses and Marketing Expenses…………………………………………………

64-65

NOTE 27

Other Operating Income/(Expenses)…………………………………………………………………………………………………………

66

NOTE 28

Investment Activities Income / (Expenses)…………………………………………………………………………………………………

67

NOTE 29

Finance Income / (Expenses)………………………………………………………………………………………………………………

68

NOTE 30

Tax Assets and Liabilities……………………………………………………………………………………………………………………

69-71

NOTE 31

Earnings Per Share…………………………………………………………………………………………………………………………

71

NOTE 32

Financial Instruments………………………………………………………………………………………………………………………

71

NOTE 33

Nature and Level of Risks Derived From Financial Instruments……………………………………………………………………………

72-78

NOTE 34

Financial Instruments (Fair Value Disclosures and Hedge Accounting Disclosures)………………………………………………………

79-81

MENDERES TEKSTİL SANAYİ VE TİCARET ANONİM ŞİRKETİ

CONSOLIDATED BALANCE SHEETS AS OF 30 SEPTEMBER 2022

(Currency - Turkish Lira 'TRY' unless expressed otherwise)

Unreviewed

Audited

Footnote

Current Period

Prior Period

ASSETS

References

30.09.2022

31.12.2021

Current Assets

2,772,759,941

1,454,979,574

Cash and Cash Equivalents

4

24,154,198

118,035,517

Financial Investments

5

1,855,070

-

Trade Receivables

804,511,287

373,941,123

Trade Receivables from Related Parties

6-7

386,867,441

188,541,819

Trade Receivables from Third Parties

7

417,643,846

185,399,304

Other Receivables

146,259,680

161,775,794

Other Receivables from Related Parties

6-9

126,306,705

152,062,297

Other Receivables from Third Parties

9

19,952,975

9,713,497

Derivative Financial Instruments

10

4,762,115

-

Inventories

11

1,626,284,908

683,151,692

Biological Assets

12

35,623,787

9,385,653

Prepaid Expenses

13

30,591,165

21,442,802

Current Tax Assets

14

2,757,014

1,868,281

Other Current Assets

23

95,960,717

85,378,712

Non-Current Assets

2,464,981,675

2,350,372,967

Other Receivables

9

144,597

142,248

Investments Valued by Equity Pick-up Method

15

84,505,186

83,566,338

Investment Properties

16

139,757,592

139,757,592

Tangible Assets

17

1,964,692,703

1,968,553,618

Intangible Assets

19

21,825,701

17,403,176

Prepaid Expenses

13

31,652,049

1,686,080

Deferred Tax Assets

30

222,403,847

139,263,915

TOTAL ASSETS

5,237,741,616

3,805,352,541

The accompanying notes form an integral part of these financial statements.

1

MENDERES TEKSTİL SANAYİ VE TİCARET ANONİM ŞİRKETİ

CONSOLIDATED BALANCE SHEETS AS OF 30 SEPTEMBER 2022

(Currency - Turkish Lira 'TRY' unless expressed otherwise)

Unreviewed

Audited

Footnote

Current Period

Prior Period

LIABILITIES

References

30.09.2022

31.12.2021

Current Liabilities

2,393,504,250

1,674,044,877

Financial Borrowings

8

1,215,627,916

704,769,579

Current Installments of Long Term Financial Borrowings

8

364,664,909

599,100,695

Trade Payables

7

705,410,451

293,912,845

Employee Benefit Liabilities

22

38,678,696

26,603,146

Other Payables

4,448,030

7,984,705

Other Payables to Related Parties

6-9

38,751

3,865,219

Other Payables to Third Parties

9

4,409,279

4,119,486

Deferred Income

13

40,434,195

25,968,931

Current Tax Liabilities of Period Profit

30

1,364,272

1,727,939

Current Provisions

22,875,781

13,977,037

Provision for employee benefits

21

18,903,544

9,698,737

Other current provisions

21

3,972,237

4,278,300

Non-Current Liabilities

1,235,517,323

1,109,201,586

Long Term Borrowings

8

864,143,355

776,793,301

Long Term Provisions

120,398,500

78,630,230

Long Term Provisions for Employee Benefits

21

120,398,500

78,630,230

Deferred Tax Liabilities

30

250,975,468

253,778,055

Equity

1,608,720,043

1,022,106,078

Parent Company's Equity

1,588,621,418

1,007,900,874

Paid in Capital

24.1

250,000,000

250,000,000

Inflation Adjustments of Capital

24.2

860,487

860,487

Accumulated Other Comprehensive Income or Expenses not to be

Reclassified on Profit or Loss

Gains / losses on revaluation and remeasurement

-Increase / Decrease on Revaluation of Tangible Assets

24.3

1,203,535,433

1,203,535,433

-Defined Benefit Plans Re-Measurement Gains / (Losses)

24.3

7,224,720

11,386,834

Accumulated Other Comprehensive Income or Expenses to be

Reclassified on Profit or Loss

Share of other comprehensive income of investments accounted

for using the equity method that will not be reclassified to profit or

loss

24.4

42,649,562

42,649,562

Restricted Reserves

10,340,261

10,340,261

Legal Reserves

24.5

10,340,261

10,340,261

Retained Earnings / Losses

24.6

(510,871,703)

(243,093,206)

Net Profit / (Loss) for the Period

31

584,882,658

(267,778,497)

Minority Interests

24.7

20,098,625

14,205,204

TOTAL LIABILITIES AND EQUITY

5,237,741,616

3,805,352,541

The accompanying notes form an integral part of these financial statements.

2

MENDERES TEKSTİL SANAYİ VE TİCARET ANONİM ŞİRKETİ

CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME STATEMENT

FOR THE PERIOD OF 1 JANUARY-30 SEPTEMBER 2022

(Currency - Turkish Lira 'TRY' unless expressed otherwise.)

Unrewieved

Unrewieved

Unrewieved

Unrewieved

Current Period

Prior Period

Prior Period

Prior Period

01.01-

01.01-

01.07-

01.07-

Footnotes

30.09.2022

30.09.2021

30.09.2022

30.09.2021

Revenue

25.1

3,082,300,820

1,477,986,841

1,279,005,231

634,638,347

Cost of Sales (-)

25.2

(2,004,735,898)

(1,222,681,824)

(916,805,960)

(531,913,167)

Gross Profit / (Loss)

1,077,564,922

255,305,017

362,199,271

102,725,180

General Administrative Expenses (-)

26.3

(58,052,952)

(28,947,796)

(28,006,587)

(9,553,584)

Marketing Expenses (-)

26.2

(79,590,566)

(40,816,536)

(40,748,183)

(16,898,575)

Research and Development

Expenses (-)

26.1

(9,583,129)

(6,561,145)

(4,721,107)

-

Other Operating Income

27.1

251,105,474

70,742,503

70,201,081

11,423,399

Other Operating Expenses (-)

27.2

(157,270,660)

(41,385,922)

(39,724,942)

(5,243,759)

Operating Profit / (Loss)

1,024,173,089

208,336,121

319,199,533

82,452,661

Income from Investment Activities

28.1

17,364,904

2,838,394

622,744

5,000

Expenses from Investment

Activities (-)

28.2

-

(40,219)

-

(39,402)

Shares of Profit/(Loss) from

Investments Valued by Equity Pick-up

Method

28.3

938,848

306,758

408,258

93,302

Operating Activity Profit/(Loss)

Before Financial Expense

1,042,476,841

211,441,054

320,230,535

82,511,561

Financial Income

29.1

54,199,042

35,805,993

7,199,652

8,310,193

Financial Expenses (-)

29.2

(589,758,960)

(252,389,318)

(178,992,944)

(18,996,506)

Operating Activity Profit/(Loss)

Before Taxation

506,916,923

(5,142,271)

148,437,243

71,825,248

Operating Activity Tax

Income/(Expense)

Current Tax Income/(Expense)

30

(1,364,272)

(1,518,575)

1,305,969

243,603

Deferred Tax Income/(Expense)

30

85,266,928

9,919,833

140,796,597

(18,923,006)

Current Period Operating Activity

Profit / (Loss)

590,819,579

3,258,987

290,539,809

53,145,845

Profit/(Loss) for the Period

590,819,579

3,258,987

290,539,809

53,145,845

Distribution of the Period

Income/(Loss)

Minority Interests

24.7

5,936,921

731,464

(2,249,274)

(475,265)

Parent Company's Shares

31

584,882,658

2,527,523

292,789,083

53,621,110

Earnings Per Share

31

2.3395

0.0101

1.1712

0.2145

The accompanying notes form an integral part of these financial statements.

3

Disclaimer

Menderes Tekstil Sanayi ve Ticaret AS published this content on 23 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2022 13:33:08 UTC.


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