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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Disclaimer

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.