TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Condensed Consolidated Interim Balance Sheet as at 31 March 2022

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

ASSETS

31 March 2022

31 December 2021

Current Assets

Cash and Cash Equivalents Financial Investments Trade Receivables

-Related Parties

-Third Parties Other Receivables

-Related Parties

-Third Parties

Derivative Financial Instruments Inventories

Prepaid Expenses

Current Income Tax Assets Other Current Assets

37.249

35.679

8.427 69

424 315

14.105 12.008

81

76

10.523 10.541

3.361 782

4.185 3.481

2.422 1.526

178 260

857 1.060

TOTAL CURRENT ASSETS

81.812

65.797

Non-Current Assets

Financial Investments Other Receivables

-Third Parties

Investments Accounted by Using Equity Method Property and Equipment

Right of Use Assets Intangible Assets

- Other Intangible Assets

- Goodwill

Prepaid Expenses Deferred Tax Assets

1.847 1.171

13.184 11.544

3.444 3.164

64.334 58.195

220.389 201.381

1.127 1.088

182 12.845 19

166 11.188 14

TOTAL NON-CURRENT ASSETS

317.371

287.911

TOTAL ASSETS

399.183

353.708

1

Condensed Consolidated Interim Balance Sheet as at 31 March 2022

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

Not Reviewed

Audited

LIABILITIES

31 March 2022

31 December 2021

Current Liabilities

Short Term Borrowings

-Third Parties

-Bank Borrowings

14.287

11.792

Short-Term Portion of Long-Term Borrowings

-Related Parties

-Bank Borrowings

8.025

7.350

-Third Parties

-Bank Borrowings

15.684

11.914

-Lease Liabilities

23.719

22.305

Other Financial Liabilities

73

103

Trade Payables

-Related Parties

1.932

2.231

-Third Parties

10.808

9.665

Payables Related to Employee Benefits

1.991

1.407

Other Payables

-Related Parties

91

68

-Third Parties

1.165

2.259

Derivative Financial Instruments

1.094

378

Deferred Income

28.177

16.877

Current Tax Provision

121

211

Short-Term Provisions

-Provisions for Employee Benefits

494

234

-Other Provisions

112

105

Other Current Liabilities

4.223

3.544

TOTAL CURRENT LIABILITIES

111.996

90.443

Non- Current Liabilities

Long-Term Borrowings

-Related Parties

-Bank Borrowings

15.029

15.152

-Third Parties

-Bank Borrowings

12.591

16.000

-Lease Liabilities

121.447

114.495

Other Payables

-Third Parties

2.816

730

Deferred Income

1.301

1.224

Long-Term Provisions

-Provisions for Employee Benefits

1.592

1.506

-Other Provisions

648

619

Deferred Tax Liability

26.550

22.889

TOTAL NON-CURRENT LIABILITIES

181.974

172.615

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

( 1.080)

( 950)

Items That Are or May Be Reclassified to

Profit or Loss

-Foreign Currency Translation Differences

76.531

67.785

-Fair Value Gains on Hedging Instruments

Entered into for Cash Flow Hedges

5.778

2.022

-Losses on Remeasuring FVOCI

( 120)

( 91)

Restricted Profit Reserves

238

238

Previous Years Profit

19.132

10.918

Net Profit for the Period

2.220

8.214

Equity of the Parent

105.203

90.640

Non-Controlling Interests

10

10

TOTAL EQUITY

105.213

90.650

TOTAL LIABILITIES AND EQUITY

399.183

353.708

Condensed Consolidated Interim Statement of Profit or Loss and Other Comprehensive Income For the Three-Month Period Ended 31 March 2022

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

Not Reviewed

Not Reviewed

1 January-

1 January-

PROFIT OR LOSS

31 March 2022

31 March 2021

Revenue

42.614

13.252

Cost of Sales (-)

( 35.426)

( 11.977)

GROSS PROFIT

7.188

1.275

General Administrative Expenses (-)

( 964)

( 489)

Marketing Expenses (-)

( 4.185)

( 1.306)

Other Operating Income

486

423

Other Operating Expenses (-)

( 231)

( 196)

OPERATING PROFIT/(LOSS) BEFORE

INVESTMENT ACTIVITIES

2.294

( 293)

Income from Investment Activities

639

372

Expenses from Investment Activities

( 334)

( 33)

Share of Investments' Profit/(Loss) Accounted

by Using The Equity Method

( 66)

( 131)

OPERATING PROFIT/(LOSS)

2.533

( 85)

Financial Income

999

1.081

Financial Expenses (-)

( 1.878)

( 767)

PROFIT/(LOSS) BEFORE TAX

1.654

229

Tax (Expense)/Income

566

209

Current Tax Expense

( 118)

-

Deferred Tax Income

684

209

NET PROFIT FOR THE PERIOD

2.220

438

OTHER COMPREHENSIVE INCOME

Items That May Be Reclassified Subsequently To

Profit or Loss

12.473

7.910

Currency Translation Adjustment

8.746

5.716

Losses on Remeasuring FVOCI

( 35)

( 48)

Related Tax of Remeasuring FVOCI

6

11

Fair Value Gains on Hedging Instruments

Entered into for Cash Flow Hedges

4.491

2.770

Fair Value Gains Hedging Instruments of

Investment Accounted by Using the Equity Method

Entered into for Cash Flow Hedges

261

20

Related Tax of Other Comprehensive Expense

( 996)

( 559)

Items That Will Not Be Reclassified Subsequently To

Profit or Loss

( 130)

( 6)

Actuarial Losses on Retirement Pay Obligation

( 163)

( 8)

Related Tax of Other Comprehensive Income

33

2

OTHER COMPREHENSIVE INCOME

FOR THE PERIOD

12.343

7.904

TOTAL COMPREHENSIVE INCOME

FOR THE PERIOD

14.563

8.342

Basic Profit Per Share (Kr)

1,61

0,32

Diluted Profit Per Share (Kr)

1,61

0,32

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Condensed Consolidated Interim Statement of Changes in Equity

For the Three-Month Period Ended 31 March 2022

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

Subsequently To

Profit or Loss

Foreign

Instruments

Gains /

Equity

Inflation

Actuarial (Losses)

Currency

Entered Into For

(Losses) on

Restricted

Previous

Net Profit

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

Period

Parent

Interests

Equity

As of 1 January 2022

1.380

1.124

(950)

67.785

2.022

(91)

238

10.918

8.214

90.640

10

90.650

Transfers

-

-

-

-

-

-

-

8.214

(8.214)

-

-

-

Total comprehensive income

-

-

(130)

8.746

3.756

(29)

-

-

2.220

14.563

-

14.563

As of 31 March 2022

1.380

1.124

(1.080)

76.531

5.778

(120)

238

19.132

10

105.213

2.220 105.203

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Condensed Consolidated Interim Statement of Changes in Equity

For the Three-Month Period Ended 31 March 2022

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

Subsequently To

Profit or Loss

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

Period

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

-

-

-

-

-

-

-

4.536

(4.536)

-

-

-

Total comprehensive income

-

-

(6)

5.716

2.231

(37)

27

(27)

438

8.342

-

8.342

As of 31 March 2021

1.380

1.124

(358)

35.199

(1.070)

(25)

238

21.042

(9.686)

47.844

9

47.853

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Turkish Airlines AO published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 06:03:07 UTC.