MENDERES TEKSTİL SANAYİ VE TİCARET A.Ş. CONSOLIDATED FINANCIAL STATEMENTS
FOR THE INTERIM PERIOD ENDED AT 30 SEPTEMBER 2023
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…………………………………………………………………………………………………… | 8-79 |
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 ………………………………………………………………………………………………………………… | 34-37 |
NOTE 7 Trade Receivables and Trade Payables…………………………………………………………………………………………………… | 38-39 |
NOTE 8 Financial Borrowings……………………………………………………………………………..........………………………..........…… | 40-42 |
NOTE 9 Other Receivables and Payables…………………………………………………………………………………………………………… | 43 |
NOTE 10 Derivative Instruments……………………………………………………………………………………………………………………… | 44 |
NOTE 11 Inventories………………………………………………………………………………………………………………………………… | 44 |
NOTE 12 Biological Assets…………………………………………………………………………………………………………………………… | 44 |
NOTE 13 Prepaid Expenses and Deferred Income…………………………………………………………………………………………………… | 45 |
NOTE 14 Assets Related To Current Perıod Tax…………………………………………………………………………………………………… | 45 |
NOTE 15 Investments Valued with Equity Pick-up Method………………………………………………………………………………………… | 46 |
NOTE 16 Investment Properties……………………………………………………………………………………………………………………… | 47 |
NOTE 17 Tangible Assets …………………………………………………………………………………………………………………………… | 48-49 |
NOTE 18 Right of Use Assets ………………………………………………………………………………………………………………………… | 49 |
NOTE 19 Intangible Assets …………………………………………………………………………………………………………………………… | 50 |
NOTE 20 Provisions, Contingent Assets and Liabilities……………………………………………………………………………………………… | 51-53 |
NOTE 21 Provisions…………………………………………………………………………………………………………………………………… | 54 |
NOTE 22 Employee Benefit Liabilities……………………………………………………………………………………………………………… | 55 |
NOTE 23 Other Current Assets and Liabilities……………………………………………………………………………………………………… | 55 |
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 |
NOTE 35 Post Balance Sheet Events…………………….…………………………………………………………………………………………… | 81 |
MENDERES TEKSTİL SANAYİ VE TİCARET ANONİM ŞİRKETİ
CONSOLIDATED BALANCE SHEETS AS OF 30 SEPTEMBER 2023
(Currency - Turkish Lira 'TRY' unless expressed otherwise)
Unreviewed | Audited | ||
Footnote | Current Period | Prior Period | |
ASSETS | References | 30.09.2023 | 31.12.2022 |
Current Assets | 3.029.839.849 | 2.594.012.935 | |
Cash and Cash Equivalents | 4 | 418.214.493 | 117.868.895 |
Financial Investments | 5 | 3.823.620 | 3.893.423 |
Trade Receivables | 961.866.635 | 612.777.609 | |
Trade Receivables from Related Parties | 6-7 | 394.315.655 | 381.617.895 |
Trade Receivables from Third Parties | 7 | 567.550.980 | 231.159.714 |
Other Receivables | 34.104.247 | 9.503.234 | |
Other Receivables from Related Parties | 6-9 | 563.127 | 327.128 |
Other Receivables from Third Parties | 9 | 33.541.120 | 9.176.106 |
Derivative Instruments | 10 | 188.331 | - |
Inventories | 11 | 1.524.122.578 | 1.706.234.192 |
Biological Assets | 12 | 54.866.878 | 29.361.062 |
Prepaid Expenses | 13 | 23.192.952 | 18.275.397 |
Current Tax Assets | 14 | 1.310.423 | 2.778.947 |
Other Current Assets | 23 | 8.149.692 | 93.320.176 |
Non-Current Assets | 5.470.836.325 | 5.076.914.328 | |
Other Receivables | 9 | 159.340 | 153.411 |
Investments Valued by Equity Pick-up Method | 15 | 241.920.332 | 240.244.300 |
Investment Properties | 16 | 208.625.903 | 208.625.903 |
Tangible Assets | 17 | 4.477.173.364 | 4.166.634.853 |
Intangible Assets | 19 | 34.079.989 | 33.744.515 |
Prepaid Expenses | 13 | 11.887.432 | 37.182.490 |
Deferred Tax Assets | 30 | 496.989.965 | 390.328.856 |
TOTAL ASSETS | 8.500.676.174 | 7.670.927.263 |
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 2023
(Currency - Turkish Lira 'TRY' unless expressed otherwise)
Unreviewed | Audited | ||
Footnote | Current Period | Prior Period | |
LIABILITIES | References | 30.09.2023 | 31.12.2022 |
Current Liabilities | 2.316.714.015 | 2.126.592.052 | |
Short Term Borrowings | 8 | 982.338.228 | 1.127.642.073 |
Short-term portion of long-term borrowings | 8 | 304.596.395 | 312.150.770 |
Trade Payables | 7 | 830.279.790 | 536.253.306 |
Employee Benefit Liabilities | 22 | 108.223.581 | 66.370.210 |
Other Payables | 9 | 10.723.283 | 12.529.443 |
Deferred Income | 13 | 46.920.501 | 50.496.052 |
Current Tax Liabilities of Period Profit | 30 | 1.645.786 | 362.499 |
Current Provisions | 31.986.451 | 20.787.699 | |
Provision For Employee Benefits | 21 | 25.604.504 | 16.924.978 |
Other Current Provisions | 21 | 6.381.947 | 3.862.721 |
Non-Current Liabilities | 1.871.392.187 | 1.579.854.557 | |
Long Term Borrowings | 8 | 1.037.898.635 | 852.220.128 |
Deferred Income | 13 | 12.263.145 | 21.073.246 |
Long Term Provisions | 143.617.668 | 118.684.242 | |
Long Term Provisions for Employee Benefits | 21 | 143.617.668 | 118.684.242 |
Deferred Tax Liabilities | 30 | 677.612.739 | 587.876.941 |
Equity | 4.312.569.972 | 3.964.480.654 | |
Parent Company's Equity | 4.264.024.728 | 3.920.088.804 | |
Paid in Capital | 24.1 | 277.292.576 | 250.000.000 |
Inflation Adjustments of Capital | 24.2 | 860.487 | 860.487 |
Share Premiums/Discounts | 24.3 | 222.707.424 | - |
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 | 24.4 | 2.997.901.174 | 3.078.940.524 |
-Defined Benefit Plans Re-Measurement Gains / (Losses) | 24.4 | 7.490.399 | 10.837.864 |
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 | 24.5 | 42.649.562 | 42.649.562 |
Restricted Reserves | 10.340.261 | 10.340.261 | |
Legal Reserves | 24.6 | 10.340.261 | 10.340.261 |
Retained Earnings / Losses | 24.7 | 526.460.106 | (510.871.703) |
Net Profit / (Loss) for the Period | 31 | 178.322.739 | 1.037.331.809 |
Non-controlling interests | 24.8 | 48.545.244 | 44.391.850 |
TOTAL LIABILITIES AND EQUITY | 8.500.676.174 | 7.670.927.263 |
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 2023
(Currency - Turkish Lira 'TRY' unless expressed otherwise.)
Unrewieved | Unrewieved | Unrewieved | Unrewieved | ||
Current | Prior | Current | Prior | ||
Period | Period | Period | Period | ||
01.01- | 01.01- | 01.07- | 01.07- | ||
Note | 30.09.2023 | 30.09.2022 | 30.09.2023 | 30.09.2022 | |
Revenue | 25.1 | 3.604.932.225 | 3.082.300.820 | 1.570.512.026 | 1.279.005.231 |
Cost of Sales (-) | 25.2 | (2.857.331.010) | (2.004.735.898) | (1.200.570.578) | (916.805.960) |
Gross Profit / (Loss) | 747.601.215 | 1.077.564.922 | 369.941.448 | 362.199.271 | |
General Administrative Expenses (-) | 26.3 | (188.416.964) | (58.052.952) | (63.904.477) | (28.006.587) |
Marketing Expenses (-) | 26.2 | (90.481.390) | (79.590.566) | (36.827.725) | (40.748.183) |
Research and Development Expenses (-) | 26.1 | (27.160.381) | (9.583.129) | (6.269.535) | (4.721.107) |
Other Operating Income | 27.1 | 398.885.085 | 251.105.474 | 90.945.744 | 70.201.081 |
Other Operating Expenses (-) | 27.2 | (142.900.472) | (157.270.660) | (28.176.974) | (39.724.942) |
Operating Profit / (Loss) | 697.527.093 | 1.024.173.089 | 325.708.481 | 319.199.533 | |
Income from Investment | |||||
Activities | 28.1 | 2.709.373 | 17.364.904 | 826.220 | 622.744 |
Shares of Profit/(Loss) from | |||||
Investments Valued by Equity | |||||
Pick-up Method | 28.3 | 1.676.032 | 938.848 | 744.438 | 408.258 |
Operating Activity Profit/(Loss) Before | |||||
Financial Expense | 701.912.498 | 1.042.476.841 | 327.279.139 | 320.230.535 | |
Financial Income | 29.1 | 103.346.071 | 54.199.042 | 22.116.707 | 7.199.652 |
Financial Expenses (-) | 29.2 | (718.228.743) | (589.758.960) | (134.703.799) | (178.992.944) |
Operating Activity Profit/(Loss) Before | |||||
Taxation | 87.029.826 | 506.916.923 | 214.692.047 | 148.437.243 | |
Operating Activity Tax | |||||
Income/(Expense) | |||||
Current Tax Income/(Expense) | 30 | (1.645.786) | (1.364.272) | (483.312) | 1.305.969 |
Deferred Tax Income/(Expense) | 30 | 97.679.711 | 85.266.928 | 40.969.369 | 140.796.597 |
Current Period Operating Activity | |||||
Profit / (Loss) | 183.063.751 | 590.819.579 | 255.178.104 | 290.539.809 | |
Profit/(Loss) for the Period | 183.063.751 | 590.819.579 | 255.178.104 | 290.539.809 | |
Distribution of the Period Income/(Loss) | |||||
Minority Interests | 24.8 | 4.741.012 | 5.936.921 | 790.251 | (2.249.274) |
Parent Company's Shares | 31 | 178.322.739 | 584.882.658 | 254.387.853 | 292.789.083 |
Earnings Per Share | 31 | 0,6431 | 2,3395 | 1,0176 | 1,1712 |
The accompanying notes form an integral part of these financial statements
3
MENDERES TEKSTİL SANAYİ VE TİCARET ANONİM ŞİRKETİ CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
STATEMENT FOR THE PERIOD OF 1 JANUARY-30 SEPTEMBER 2023
(Currency - Turkish Lira 'TRY' unless expressed otherwise.)
Unrewieved | Unrewieved | Unrewieved | Unrewieved | ||
Current | Prior | Current | Prior | ||
Period | Period | Period | Period | ||
01.01- | 01.01- | 01.07- | 01.07- | ||
Note | 30.09.2023 | 30.09.2022 | 30.09.2023 | 30.09.2022 | |
Profit/(Loss) for the Period | 183.063.751 | 590.819.579 | 255.178.104 | 290.539.809 | |
Other Comprehensive Income: | |||||
Income (Expenses) not to be Reclassified | |||||
on Profit or (Loss) | |||||
- Defined Benefit Plans Re-Measurement | |||||
Gains (Losses) | 21 | (4.220.033) | (4.881.205) | - | (1.518.513) |
- | - | ||||
- Deferred Tax Income / (Expense) | 30 | (80.754.400) | 675.591 | - | 3.052 |
Other Comprehensive Income | (84.974.433) | (4.205.614) | - | (1.515.461) | |
Total Comprehensive Income/(Expense) | 98.089.318 | 586.613.965 | 255.178.104 | 289.024.348 | |
Distribution of Total Comprehensive | |||||
Income | |||||
Minority Interests | 24.8 | 4.153.394 | 5.893.421 | 790.251 | (2.210.988) |
Parent Company's Shares | 31 | 93.935.924 | 580.720.544 | 254.387.853 | 291.235.336 |
The accompanying notes form an integral part of these financial statements.
4
MENDERES TEKSTİL SANAYİ VE TİCARETANONİM ŞİRKETİ
STATEMENT OF CONSOLIDATED CHANGES IN SHAREHOLDER'S EQUITY FOR THE PERIODS OF
1 JANUARY - 30 SEPTEMBER 2023
(Currency - Turkish Lira "TRY" unless expressed otherwise.)
Accumulated Other | |||||||||||||
Accumulated Other Comprehensive | Comprehensive Income and | ||||||||||||
Income and Expenses that will not be | Expenses that will be | ||||||||||||
Reclassified to Profit or Loss | Reclassified to Profit or Loss | Accumulated profits | |||||||||||
Share Of Other | |||||||||||||
Comprehensive Income Of | |||||||||||||
Increase / | Defined | Investments Accounted For | Net | ||||||||||
Adjustments of | Share | (Decrease) on | Benefit Plans | Using Equity Method That | Profit/Loss | Parent | |||||||
Paid in | Shareholders' | Premiums/ | Revaluation of | Re-Measurement | Will Not Be Reclassified To | Restricted | Accumulated | For The | Company's | Minority | Total | ||
Note | Capital | Equity | Discounts | Tangible Assets | Gains / (Losses) | Profit or Loss | Reserves | Profit/Loss | Period | Equity | Interests | Equity | |
Balances at 01.01.2022 | |||||||||||||
250.000.000 | 860.487 | - | 1.203.535.433 | 11.386.834 | 42.649.562 | 10.340.261 | (243.093.206) | (267.778.497) | 1.007.900.874 | 14.205.204 | 1.022.106.078 | ||
Transfers | 24 | - | - | - | - | - | - | SS- | (267.778.497) | 267.778.497 | - | - | - |
Total Comprehensive | |||||||||||||
Income/(Loss) | - | - | - | - | (4.162.114) | - | - | - | 584.882.658 | 580.720.544 | 5.893.421 | 586.613.965 | |
- Profit/(Loss) for the | |||||||||||||
Period | 24 | - | - | - | - | - | - | - | - | 584.882.658 | 584.882.658 | 5.936.921 | 590.819.579 |
- Other Comprehensive | |||||||||||||
Income/(Expense) | 24 | - | - | - | - | (4.162.114) | - | - | - | - | (4.162.114) | (43.500) | (4.205.614) |
Balances at 30.09.2022 | 24 | 250.000.000 | 860.487 | - | 1.203.535.433 | 7.224.720 | 42.649.562 | 10.340.261 | (510.871.703) | 584.882.658 | 1.588.621.418 | 20.098.625 | 1.608.720.043 |
Balances at 01.01.2023 | 24 | 250.000.000 | 860.487 | - | 3.078.940.524 | 10.837.864 | 42.649.562 | 10.340.261 | (510.871.703) | 1.037.331.809 | 3.920.088.804 | 44.391.850 | 3.964.480.654 |
Capital increase | 27.292.576 | - | 222.707.424 | - | - | - | - | - | - | 250.000.000 | - | 250.000.000 | |
Transfers | 24 | - | - | - | - | - | - | - | 1.037.331.809 | (1.037.331.809) | - | - | - |
Total Comprehensive | |||||||||||||
Income/(Loss) | - | - | - | (81.039.350) | (3.347.465) | - | - | - | 178.322.739 | 93.935.924 | 4.153.394 | 98.089.318 | |
- Profit/(Loss) for the | |||||||||||||
Period | 24 | - | - | - | - | - | - | - | - | 178.322.739 | 178.322.739 | 4.741.012 | 183.063.751 |
- Other Comprehensive | |||||||||||||
Income/(Expense) | 24 | - | - | - | (81.039.350) | (3.347.465) | - | - | - | - | (84.386.815) | (587.618) | (84.974.433) |
Balances at 30.09.2023 | 24 | 277.292.576 | 860.487 | 222.707.424 | 2.997.901.174 | 7.490.399 | 42.649.562 | 10.340.261 | 526.460.106 | 178.322.739 | 4.264.024.728 | 48.545.244 | 4.312.569.972 |
The accompanying notes form an integral part of these financial statements
5
MENDERES TEKSTİL SANAYİ VE TİCARET ANONİM ŞİRKETİ
CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIODS OF 01 JANUARY-30 SEPTEMBER2023
(Currency - Turkish Lira 'TRY' unless expressed otherwise.)
Unreviewed | Unreviewed | ||
Current Period | Prior Period | ||
Footnote | 01.01- | 01.01- | |
Reference | 30.09.2023 | 30.09.2022 | |
CASH FLOWS FROM THE OPERATING ACTIVITIES | 827.532.490 | (55.317.621) | |
Profit/(Loss) for the Period | |||
Current Period Operating Activity Profit / (Loss) | 183.063.751 | 590.819.579 | |
Adjustments Related with Net Profit/Loss for The Period | 435.211.022 | 359.606.650 | |
Adjustments for Depreciation and Amortisation Expenses | 17-18-19 | 196.110.360 | 66.316.825 |
Adjustments to Impairment (Cancellation) | |||
-Adjustments to Impairment (Cancellation) in Receivables | 7 | (1.727.604) | (308.102) |
Adjustments Related to the Provisions | |||
-Adjustments for Employee Termination Benefits | 21-30 | 21.557.399 | 37.562.656 |
- Adjustment for Provision for Expenses and Lawsuits | 21 | 2.519.226 | (306.063) |
- Adjustment for Other Provisions or Reversals | 21 | 8.679.526 | 9.204.807 |
Adjustments for Interest Income and Expenses | |||
- Adjustments for Interest Expenses | 8-29 | (47.246.945) | 31.211.273 |
- Unearned Income from Futures Sale | 27.1 | 18.195.539 | 10.376.313 |
- Deferred Financial Expense Arise from Forward Purchasing | 27.2 | (12.758.178) | (7.054.172) |
Adjustments for Fair Value Profit or Loss | |||
- Adjustments for Financial Instruments Fair Value Losses /(Profits) | 10 | (188.331) | (4.762.115) |
Adjustments for unrealised foreign exchange losses (gains) | 8 | 350.269.779 | 304.246.595 |
Adjustments for Retained Earnings of Investments Subject to Equity Pick-up | |||
Method | |||
- Adjustment for Retained Earnings of Subsidiaries | 28.3 | (1.676.032) | (938.848) |
Tax payments/returns | 30 | (98.523.717) | (85.942.519) |
Changes In The Company Capital | 207.974.430 | (1.005.380.183) | |
Increase/Decrease in Financial Investments | 5 | 69.803 | (1.855.070) |
Adjustments for Increase/Decrease in Trade Receivables | |||
- Adjustments for Increase/Tecrease in Trade Receivables from Related Parties | 6-7 | (12.697.760) | (198.325.622) |
- Adjustments for Increase/Decrease in Trade Receivables from Third Parties | 7 | (352.859.201) | (242.312.753) |
Adjustments for İncrease/Decrease in Other Receivables Related to the | |||
Operations | |||
- Adjustments for Increase/Decrease in Other Receivables from Related Parties | 6-9 | (235.999) | 25.755.592 |
Related to the Operations | |||
- Adjustments for Increase/Decrease in Other Receivables from Third Parties | 9 | 62.268.065 | (21.712.565) |
Related to the Operations | |||
Adjustments for İncrease/Decrease in Inventories | 11 | 182.111.614 | (943.133.216) |
Adjustments Related to the Increase/Decrease in Biological Assets | 12 | (25.505.816) | (26.238.134) |
Adjustments for Increase/Decrease in Prepaid Expenses | 13 | 20.377.503 | (39.114.332) |
Adjustments for Increase/Decrease in Trade Payables | |||
- Adjustments for Increase/Decrease in Trade Payables to Third Parties | 7 | 306.784.662 | 418.551.778 |
Increase/Decrease in Employee Benefits Liabilities | 22 | 41.853.371 | 12.075.550 |
Adjustments for Increase/Decrease in Other Payables Related to the Operations | |||
- Adjustments for Increase/Decrease in Other Payables from Related Parties | 6-9 | - | (3.826.468) |
Related to the Operations | |||
- Adjustments for Increase/Decrease in Other Payables from Third Parties | 9 | (1.806.160) | 289.793 |
Related to the Operations | |||
Increase/Decrease in Deferred Tax | 13 | (12.385.652) | 14.465.264 |
Cash Flow from Operating Activities | 826.249.203 | (54.953.954) | |
Tax Payments/Returns | 30 | 1.283.287 | (363.667) |
The accompanying notes form an integral part of these financial statements.
6
MENDERES TEKSTİL SANAYİ VE TİCARET ANONİM ŞİRKETİ
CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIODS OF 01 JANUARY-30 SEPTEMBER2023
(Currency - Turkish Lira 'TRY' unless expressed otherwise.)
Unreviewed | Unreviewed | ||
Current Period | Prior Period | ||
Footnote | 01.01- | 01.01- | |
Reference | 30.09.2023 | 30.09.2022 | |
NET CASH FLOW PROVIDED BY INVESTMENT ACTIVITIES | (506.984.345) | (66.878.435) | |
Proceeds from Sale of Property, Plant, Equipment and Intangible Assets | |||
- Proceeds from Sale of Tangible Assets | 17 | 113.743 | 22.969.650 |
Proceeds from Purchase of Property, Plant, Equipment and Intangible Assets | |||
- Proceeds from Purchase of Tangible Assets | 17 | (504.955.814) | (85.874.512) |
- Proceeds from Purchase of Intangible Assets | 19 | (2.142.274) | (3.973.573) |
CASH FLOW PROVIDED BY FINANCIAL ACTIVITIES | (20.202.547) | 28.314.737 | |
Cash Inflows from Issuance of Shares and Other Equity Instruments | |||
- Cash Inflows from Share Issuance | 250.000.000 | - | |
Cash Inflows from Financial Liabilities | |||
- Cash Inflows from Bank Loans | 8 | 571.957.345 | 1.522.795.427 |
Cash Outflows from Financial Liabilities | |||
- Cash Outflows for Bank Loans | 8 | (838.291.544) | (1.489.985.008) |
Cash Outflows from Finance Leases | 8 | (3.868.348) | (4.495.682) |
NET INCREASE/DECREASE IN CASH AND CASH EQUIVALENTS | |||
BEFORE THE EFFECT OF FOREIGN EXCHANGE CURRENCY | 300.345.598 | (93.881.319) | |
DIFFERENCES (A+B+C) | |||
D. THE EFFECT OF FOREIGN CURRENCY TRANSLATION | |||
DIFFERENCES ON CASH AND CASH EQUIVALENTS | - | - | |
CASH AND CASH EQUIVALENTS NET INCREASE/DECREASE | 300.345.598 | (93.881.319) | |
CASH AND CASH EQUIVALENTS AT THE BEGINING OF THE | 4 | 117.868.895 | 118.035.517 |
PERIOD | |||
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 4 | 418.214.493 | 24.154.198 |
The accompanying notes form an integral part of these financial statements.
7
MENDERES TEKSTİL SANAYİ VE TİCARET ANONİM ŞİRKETİ NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED AT 30 SEPTEMBER 2023 (Currency - Turkish Lira 'TRY' unless expressed otherwise.)
NOTE 1 - ORGANIZATION AND NATURE OF ACTIVITIES
Menderes Tekstil Sanayi ve Ticaret Anonim Şirketi ("The Company" or "Menderes Tekstil"), its Subsidiaries and Equity participations are referred as "Group" in the accompanying consolidated financial statements.
The entities mentioned below are applied "Full Consolidation Method":
- Menderes Tekstil Sanayi ve Ticaret A.Ş.
- Smyrna Seracılık Ticaret A.Ş.
The entities mentioned below are applied by "Equity Pick up Method":
- Aktur İzmir Gayrimenkul A.Ş.
Menderes Tekstil Sanayi ve Ticaret A.Ş.
The Company produces cotton press, electric energy, yarn, fabric, valances, dust ruffles, ruffled and tailored shams, comforter shells, printed towels and linens in integrated cotton and synthetic textile establishment.
The Company address registered on the Trade Registry Gazette is Adalet Mahallesi, Manas Bulvarı, No:47/A 42. Kat Bayraklı, İzmir.
As of 30 September 2023, 2.346 personnel are employed by the Company and average number of personnel is 2.588 for the period of 01.01.-30.09.2023.
Company shares are traded in the Borsa Istanbul since 2000.
Production Capacity (Textile)
According to the capacity report from Denizli Industrial Chamber dated 26 April 2023, numbered 247 and valid until 26 April 2025, the Company annual production capacity is as follows: (Companies production capacity has been calculated with daily 8 hours, yearly 300 days. Company works for 3 shifts in a day):
Products | Unit | Quantity |
Cotton yarn (is used in its production) | Kg | 5.438.718 |
Raw fabric woven (is used in its production) | m2 | 59.151.060 |
Knitted fabric (is used in its production) | Kg | 1.004.400 |
Linens | Kg | 19.477.500 |
Pillowcase | Kg | 5.670.000 |
Sheet | Kg | 7.218.750 |
Quilt | Quantity | 180.000 |
Fabric painting (is used in its production) | Kg | 3.744.000 |
Fabric printing (is used in its production) | Kg | 14.121.000 |
Digital fabric printing (is used in its production) | Kg | 1.573.719 |
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Menderes Tekstil Sanayi ve Ticaret AS published this content on 16 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2023 06:29:00 UTC.