Türk Hava Yollari Anonim Ortakligi : 2021 - 4Q Financial Report - TL

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Consolidated Balance Sheet as at 31 December 2021

(All amounts are expressed in Million Turkish Lira (TL) unless otherwise stated.)

	Audited	Audited
ASSETS	31 December 2021	31 December 2020
Current Assets
Cash and Cash Equivalents	35.679	13.293
Financial Investments	69	131
Trade Receivables
-Related Parties	315	129
-Third Parties	12.008	4.543
Other Receivables
-Related Parties	76	45
-Third Parties	10.541	8.037
Derivative Financial Instruments	782	14
Inventories	3.481	2.236
Prepaid Expenses	1.526	1.034
Current Income Tax Assets	260	280
Other Current Assets	1.060	917
TOTAL CURRENT ASSETS	65.797	30.659
Non-Current Assets
Financial Investments	1.171	548
Other Receivables
-Third Parties	11.544	8.809
Investments Accounted by Using Equity Method	3.164	1.881
Property and Equipment	58.195	30.431
Right of Use Assets	201.381	108.465
Intangible Assets
- Other Intangible Assets	1.088	653
- Goodwill	166	91
Prepaid Expenses	11.188	5.862
Deferred Tax Assets	14	3
TOTAL NON-CURRENT ASSETS	287.911	156.743
TOTAL ASSETS	353.708	187.402

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES Consolidated Balance Sheet as at 31 December 2021

(All amounts are expressed in Million Turkish Lira (TL) unless otherwise stated.)

	Audited		Audited
LIABILITIES	31 December 2021		31 December 2020
Current Liabilities
Short Term Borrowings
-Related Parties
-Bank Borrowings	-	101
-Third Parties
-Bank Borrowings	11.792	11.108
Short-Term Portion of Long-Term Borrowings
-Related Parties
-Bank Borrowings	7.350	3.216
-Third Parties
-Bank Borrowings	11.914	5.491
-Lease Liabilities	22.305	12.684
Other Financial Liabilities	103	126
Trade Payables
-Related Parties	2.231	1.036
-Third Parties	9.665	5.286
Payables Related to Employee Benefits	1.407	658
Other Payables
-Related Parties	68	-
-Third Parties	2.259	645
Derivative Financial Instruments	378	470
Deferred Income	16.877	4.511
Current Tax Provision	211	-
Short-Term Provisions
-Provisions for Employee Benefits	234	118
-Other Provisions	105	75
Other Current Liabilities	3.544	1.854
TOTAL CURRENT LIABILITIES	90.443	47.379
Non- Current Liabilities
Long-Term Borrowings
-Related Parties
-Bank Borrowings	15.152	10.288
-Third Parties
-Bank Borrowings	16.000	9.389
-Lease Liabilities	114.495	70.317
Other Payables
-Third Parties	730	162
Deferred Income	1.224	799
Long-Term Provisions
-Provisions for Employee Benefits	1.506	984
-Other Provisions	619	359
Deferred Tax Liability	22.889		8.214
TOTAL NON-CURRENT LIABILITIES	172.615	100.512
Equity
Share Capital	1.380	1.380
Inflation Adjustment on Share Capital	1.124	1.124
Items That Will Not Be Reclassified to
Profit or Loss
-Actuarial (Losses) on Retirement Pay Obligation	( 950)	( 352)
Items That Are or May Be Reclassified to
Profit or Loss
-Foreign Currency Translation Differences	67.785	29.483
-Fair Value Gains on Hedging Instruments
Entered into for Cash Flow Hedges	2.022	( 3.301)
-Gains/(Losses) on Remeasuring FVOCI	( 91)	12
Restricted Profit Reserves	238	211
Previous Years Profit	10.918	16.533
Net Profit/(Loss) for the Period	8.214		( 5.588)
Equity of the Parent	90.640	39.502
Non-Controlling Interests	10	9
TOTAL EQUITY
90.650	39.511
TOTAL LIABILITIES AND EQUITY	353.708	187.402

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES Consolidated Statement of Profit or Loss and

Other Comprehensive Income For the Year Ended 31 December 2021

(All amounts are expressed in Million Turkish Lira (TL) unless otherwise stated.)

PROFIT OR LOSS

Revenue

Cost of Sales (-)

GROSS PROFIT

General Administrative Expenses (-)

Marketing Expenses (-)

Other Operating Income

Other Operating Expenses (-)

OPERATING PROFIT/(LOSS) BEFORE INVESTMENT ACTIVITIES

Income from Investment Activities Expenses from Investment Activities

Share of Investments' Profit/(Loss) Accounted by Using The Equity Method

OPERATING PROFIT/(LOSS)

Financial Income

Financial Expenses (-)

PROFIT/(LOSS) BEFORE TAX

Tax (Expense)/Income

Current Tax Expense

Deferred Tax (Expense)/Income

NET PROFIT/(LOSS) FOR THE PERIOD

Non-controlling interest

Equity holders of the parent

OTHER COMPREHENSIVE INCOME

Items That May Be Reclassified Subsequently To Profit or Loss

Currency Translation Adjustment Losses on Remeasuring FVOCI Related Tax of Remeasuring FVOCI

Fair Value Gains/(Losses) on Hedging Instruments Entered into for Cash Flow Hedges

Fair Value Gains/(Losses) Hedging Instruments of Investment Accounted by Using the Equity Method Entered into for Cash Flow Hedges

Related Tax of Other Comprehensive (Expense)/Income

Items That Will Not Be Reclassified Subsequently To Profit or Loss

Actuarial Losses on Retirement Pay Obligation Related Tax of Other Comprehensive Income

OTHER COMPREHENSIVE INCOME FOR THE PERIOD

TOTAL COMPREHENSIVE INCOME/(EXPENSE) FOR THE PERIOD

Basic Profit/(Loss) Per Share (Kr)

Diluted Profit/(Loss) Per Share (Kr)

Audited

1 January- 31 December 2021

97.378 ( 75.233)

22.145

( 2.123) ( 7.573)

1.386 ( 288)

13.547

1.823 ( 52)

743

16.061

790 ( 7.660)

9.191

( 977)

( 242) ( 735)

8.214

1

8.213

43.522

38.302 ( 129)

26

6.539

115

( 1.331)

( 598)

( 748)

150

42.924

51.138

5,95

5,95

Audited

1 January- 31 December 2020

46.448 ( 43.765)

2.683

( 1.518) ( 4.542)

2.391 ( 396)

( 1.382)

1.344 ( 83)

( 578)

( 699)

504 ( 5.906)

( 6.101)

513

( 1) 514

( 5.588)

-

( 5.588)

4.424

8.726

20 ( 4)

( 5.325)

( 73)

1.080

( 126)

( 158)

32

4.298

( 1.290)

( 4,05)

( 4,05)

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Consolidated Statement of Changes in Equity

For the Year Ended 31 December 2021

(All amounts are expressed in Million Turkish Lira (TL) unless otherwise stated.)

			Items That Will Not
			Be Reclassified
			Subsequently To	Items That May Be Reclassified Subsequently
			Profit or Loss		To Profit or Loss			Retained Earnings
					Fair Value
					Losses on
					Hedging
				Foreign	Instruments	Gains /			Net	Equity
		Inflation	Actuarial (Losses)	Currency Entered Into For	(Losses) on	Restricted	Previous	Profit/(Loss)	Holders	Non-
	Share	Adjustment on	Retirement Pay	Translation	Cash Flow	Remeasuring	Profit	Years	for The	of the	controlling	Total
	Capital	Share Capital	Obligation	Differences	Hedges	FVOCI	Reserves	Profit	Year	Parent	Interests	Equity
As of 1 January 2021	1.380	1.124	(352)	29.483	(3.301)	12	211	16.533	(5.588)	39.502	9	39.511
Transfers	-	-	-	-	-	-	-	(5.588)	5.588	-	-	-
Total comprehensive income	-	-	(598)	38.302	5.323	(103)	27	(27)	8.214	51.138	-	51.138
Transactions with non-controlling
interests	-	-	-	-	-	-	-	-	-	-	1	1
As of 31 December 2021	1.380	1.124	(950)	67.785	2.022	(91)	238	10.918	8.214	90.640	10	90.650

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Consolidated Statement of Changes in Equity

For the Year Ended 31 December 2021

(All amounts are expressed in Million Turkish Lira (TL) unless otherwise stated.)

			Items That Will Not
			Be Reclassified
			Subsequently To	Items That May Be Reclassified Subsequently
			Profit or Loss		To Profit or Loss			Retained Earnings
					Fair Value
					Gains/(Losses)
					on Hedging
				Foreign	Instruments				Net	Equity
		Inflation	Actuarial Losses	Currency Entered Into For	Losses on	Restricted	Previous	Profit/(Loss)	Holders	Non-
	Share	Adjustment on	Retirement Pay	Translation	Cash Flow	Remeasuring	Profit	Years	for The	of the	controlling	Total
	Capital	Share Capital	Obligation	Differences	Hedges	FVOCI	Reserves	Profit	Year	Parent	Interests	Equity
As of 1 January 2020	1.380	1.124	(226)	20.757	1.017	(4)	184	12.024	4.536	40.792	3	40.795
Transfers	-	-	-	-	-	-	-	4.536	(4.536)	-	-	-
Total comprehensive income	-	-	(126)	8.726	(4.318)	16	27	(27)	(5.588)	(1.290)	-	(1.290)
Transactions with non-controlling
interests	-	-	-	-	-	-	-	-	-	-	6	6
As of 31 December 2020	1.380	1.124	(352)	29.483	(3.301)	12	211	16.533	(5.588)	39.502	9	39.511

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