Net : 31.06.2023 Financial Statements

NET HOLDİNG ANONİM ŞİRKETİ

AND IT'S SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE INTERIM PERIOD ENDED AT 30 JUNE 2023

(CONVENIENCE TRANSLATION OF THE REPORT, THE FINANCIAL STATEMENTS

AND THE EXPLANATORY NOTES ORIGINALLY ISSUED IN TURKISH)

CONTENTS		PAGE
Independent Audit Report	1-2
Consolidated Balance Sheets………………………………………………………………………………………	3-4
Consolidated Statements of Income ………………………………………………………………………………	5
Consolidated Statements of Other Comprehensive Income………………………………………………………	6
Consolidated Statements of Change in Shareholder's Equity …………………………………………………	7
Consolidated Statements of Cash Flow ……………………………………………………………………………	8-9
Notes to the Consolidated Financial Statements …………………………………………………………………	10-103
NOTE 1	Organization and Nature Of Activities……………………………………………………………….	10
NOTE 2	Basis of the Consolidated Financial Statement………………………………………………………	11-34
NOTE 3	Business Mergers and Subject to Joint Control and Joint Ventures…………………………………	34-35
NOTE 4	Shares in Other Companies……………………………………………………………………………	35-40
NOTE 5	Report by Segments……………………………………………………………………………………	40-47
NOTE 6	Related Party Disclosures……………………………………………………………………………	47-51
NOTE 7	Cash And Cash Equivalents…………………………………………………………………………	51-53
NOTE 8	Financial Investments, net……………………………………………………………………………	53-54
NOTE 9	Financial Borrowings, net……………………………………………………………………………	55
NOTE 10	Trade Receivables and Payables………………………………………………………………………	56-58
NOTE 11	Receivables and Payables from Finance Sector Activities……………………………………………	58
NOTE 12	Other Receivables and Payables………………………………………………………………………	58-61
NOTE 13	Payables from Employee Benefits……………………………………………………………………	61
NOTE 14	Inventories……………………………………………………………………………………………	62
NOTE 15	Prepaid Expenses and Deferred Income………………………………………………………………	63-64
NOTE 16	Investments Consolidated by Equity Pick Up Method………………………………………………	64
NOTE 17	Right of Use Assets……………………………………………………………………………………	65
NOTE 18	Investment Properties…………………………………………………………………………………	66
NOTE 19	Tangible Fixed Assets…………………………………………………………………………………	67
NOTE 20	Intangible Fixed Assets, net……………………………………………………………………………	68
NOTE 21	Government Incentives and Grants……………………………………………………………………	69
NOTE 22	Commitments, Contingent Assets and Liabilities ……………………………………………………	70-71
NOTE 23	Commitments…………………………………………………………………………………………	71
NOTE 24	Provisions for Employee Benefits……………………………………………………………………	72
NOTE 25	Other Assets……………………………………………………………………………………………	72-73
NOTE 26	Shareholders' Equity…………………………………………………………………………………	73-76
NOTE 27	Sales and Cost of Sales………………………………………………………………………………	77
NOTE 28	General Administrative Expenses and Marketing Expenses…………………………………………	77-78
NOTE 29	Expenses According to Qualifıcations…………………………………………………………………	79
NOTE 30	Other Operating Income / Expenses…………………………………………………………………	80
NOTE 31	Investment Activities Income / Expenses……………………………………………………………	81
NOTE 32	Financial Income / (Expenses)…………………………………………………………………………	81-82
NOTE 33	Current Assets Held for Sale and Discontinued Operations…………………………………………	82
NOTE 34	Tax Assets and Liabilities (Including Deferred Tax Assets and Liabilities)…………………………	83-88
NOTE 35	Earnings Per Share……………………………………………………………………………………	88
NOTE 36	Exposure to Financial Risks Due to Financial Instrument……………………………………………	89-96
NOTE 37	Financial Instruments (Fair Value Disclosures and Hedge Accounting Disclosures)…………	97-99
NOTE 38	Fees for Services Received from Independent Auditor's …………………….…………………….…	99
NOTE 39	Other Issues Affecting the Consolidated Financial Statements Significantly or Required to be	99-103
	Disclosed for Clear, Understandable and Interpretable Presentation
NOTE 40	Post Balance Sheet Events……………………………………………………………………………	103

NET HOLDİNG ANONİM ŞİRKETİ AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS AS OF

30 JUNE 2023 AND 31 DECEMBER 2022

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

		Current	Prior
		Period	Period
		Reviewed	Audited
	Footnote
	References	30.06.2023	31.12.2022
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	7	1.597.661	1.108.815
Financial Investments	8	2.197	916
Trade Receivables		135.092	202.395
- Trade receivables from related parties	6	2.032	564
- Trade receivables from other parties	10	133.060	201.831
Other Receivables		9.819	6.440
- Other receivables from related parties	6	91	89
- Other receivables from other parties	12	9.728	6.351
Inventories	14	200.981	152.695
Prepaid Expenses	15	138.493	63.910
Assets Relevant to Current Period Taxes	34	257.383	173.856
Other Current Assets	25	39.691	30.909
TOTAL CURRENT ASSETS		2.381.317	1.739.936
NON-CURRENT ASSETS
Financial Investments	8	2.384	2.384
Other Receivables		7.110	6.131
- Other receivables from related parties	6	3.648	3.369
- Other receivables from other parties	12	3.462	2.762
Investment Properties	18	7.135.992	7.242.664
Tangible Fixed Assets	19	16.771.835	16.355.591
Right of Use Assets	17	261.402	276.951
Intangible Fixed Assets	20	203.471	116.848
Prepaid Expenses	15	867.992	432.056
Deferred Tax Assets	34	1.266.078	1.270.553
Other Non-Current Assets	25	27.262	23.652
TOTAL NON-CURRENT ASSETS		26.543.526	25.726.830
TOTAL ASSETS		28.924.843	27.466.766

The explanatory notes are an integral part of these statements.

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