Türk Hava Yollari Anonim Ortakligi : 2022 6 Months Financial Statements - TL

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Condensed Consolidated Interim Balance Sheet as at 30 June 2022

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

	Reviewed	Audited
ASSETS	30 June 2022	31 December 2021
Current Assets
Cash and Cash Equivalents	58.670	35.679
Financial Investments	13.244	69
Trade Receivables
-Related Parties	390	315
-Third Parties	18.769	12.008
Other Receivables
-Related Parties	319	76
-Third Parties	13.810	10.541
Derivative Financial Instruments	3.383	782
Inventories	5.016	3.481
Prepaid Expenses	3.428	1.526
Current Income Tax Assets	333	260
Other Current Assets	1.088	1.060
TOTAL CURRENT ASSETS	118.450	65.797
Non-Current Assets
Financial Investments	1.959	1.171
Other Receivables
-Third Parties	13.878	11.544
Investments Accounted by Using Equity Method	3.660	3.164
Property and Equipment	73.884	58.195
Right of Use Assets	261.025	201.381
Intangible Assets
- Other Intangible Assets	1.214	1.088
- Goodwill	207	166
Prepaid Expenses	14.939	11.188
Deferred Tax Assets	21	14
TOTAL NON-CURRENT ASSETS	370.787	287.911
TOTAL ASSETS	489.237	353.708

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES Condensed Consolidated Interim Balance Sheet as at 30 June 2022

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

	Reviewed		Audited
LIABILITIES	30 June 2022		31 December 2021
Current Liabilities
Short Term Borrowings
-Third Parties
-Bank Borrowings	18.145	11.792
Short-Term Portion of Long-Term Borrowings
-Related Parties
-Bank Borrowings	8.451	7.350
-Third Parties
-Bank Borrowings	15.617	11.914
-Lease Liabilities	25.412	22.305
Other Financial Liabilities	72	103
Trade Payables
-Related Parties	4.471	2.231
-Third Parties	16.997	9.665
Payables Related to Employee Benefits	2.036	1.407
Other Payables
-Related Parties	97	68
-Third Parties	2.129	2.259
Derivative Financial Instruments	748	378
Deferred Income	50.641	16.877
Current Tax Provision	263	211
Short-Term Provisions
-Provisions for Employee Benefits	531	234
-Other Provisions	121	105
Other Current Liabilities	4.945	3.544
TOTAL CURRENT LIABILITIES	150.676	90.443
Non- Current Liabilities
Long-Term Borrowings
-Related Parties
-Bank Borrowings	13.468	15.152
-Third Parties
-Bank Borrowings	10.200	16.000
-Lease Liabilities	138.314	114.495
Other Payables
-Third Parties	2.894	730
Deferred Income	1.624	1.224
Long-Term Provisions
-Provisions for Employee Benefits	2.287	1.506
-Other Provisions	768	619
Deferred Tax Liability	34.039		22.889
TOTAL NON-CURRENT LIABILITIES	203.594	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	( 1.370)	( 950)
Items That Are or May Be Reclassified to
Profit or Loss
-Foreign Currency Translation Differences	90.620	67.785
-Fair Value Gains on Hedging Instruments
Entered into for Cash Flow Hedges	12.877	2.022
-Losses on Remeasuring FVOCI	( 419)	( 91)
Restricted Profit Reserves	414	238
Previous Years Profit	18.956	10.918
Net Profit for the Period	11.375		8.214
Equity of the Parent	134.957	90.640
Non-Controlling Interests	10	10
TOTAL EQUITY
134.967	90.650
TOTAL LIABILITIES AND EQUITY	489.237	353.708

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Condensed Consolidated Interim Statement of Profit or Loss and Other Comprehensive Income For the Six-Month Period Ended 30 June 2022

(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 BEFORE INVESTMENT ACTIVITIES Income from Investment Activities Expenses from Investment Activities Share of Investments' Profit/(Loss) Accounted by Using The Equity Method OPERATING PROFIT Financial Income Financial Expenses (-)PROFIT/(LOSS) BEFORE TAX Tax (Expense)/Income Current Tax Expense Deferred Tax Income NET PROFIT/(LOSS) FOR THE PERIOD

	Reviewed	Not Reviewed	Reviewed	Not Reviewed
	1 January-	1 April-	1 January-	1 April-
Notes	30 June 2022	30 June 2022	30 June 2021	30 June 2021
20	114.583	71.969	31.485	18.233
21	( 92.334)	( 56.908)	( 27.262)	( 15.285)
	22.249	15.061	4.223	2.948
22	( 1.995)	( 1.031)	( 1.044)	( 555)
22	( 9.707)	( 5.522)	( 2.879)	( 1.573)
23	1.070	653	720	297
23	( 638)	( 476)	( 356)	( 160)
	10.979	8.685	664	957
24	1.614	976	815	443
24	( 333)	-	( 34)	( 1)
3	179	245	( 206)	( 75)
	12.439	9.906	1.239	1.324
25	2.133	1.645	688	300
25	( 2.869)	( 1.502)	( 2.407)	( 2.333)
	11.703	10.049	( 480)	( 709)
	( 328)	( 894)	421	212
26	( 359)	( 241)	( 69)	( 69)
26	31	( 653)	490	281
	11.375	9.155	( 59)	( 497)

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Condensed Consolidated Interim Statement of Profit or Loss and Other Comprehensive Income For the Six-Month Period Ended 30 June 2022

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

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 on Hedging Instruments

Entered into for Cash Flow Hedges

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

Related Tax of Other Comprehensive Expense

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 FOR THE PERIOD

Basic Profit Per Share (Kr)

Diluted Profit Per Share (Kr)

		Reviewed		Not Reviewed		Reviewed		Not Reviewed
		1 January-		1 April-		1 January-		1 April-
Notes		30 June 2022		30 June 2022		30 June 2021		30 June 2021
		33.362	20.889	9.501	1.591
		22.835	14.089	7.392	1.676
		( 410)	( 375)	( 24)	24
		82	76	5	( 6)
		13.225	8.734	2.618	( 152)
		439	178	62	42
		( 2.809)	( 1.813)	( 552)	7
		( 420)	( 290)	( 80)	( 74)
		( 525)	( 362)	( 100)	( 92)
		105	72	20	18
		32.942	20.599	9.421	1.517
		44.317	29.754	9.362	1.020
33
	8,24	6,63	( 0,04)	( 0,36)
33		8,24	6,63	( 0,04)	( 0,36)

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES

Condensed Consolidated Interim Statement of Changes in Equity

For the Six-Month Period Ended 30 June 2022

(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
					on Hedging
				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	-	-	-	-	-	-	176	8.038	(8.214)	-	-	-
Total comprehensive income	-	-	(420)	22.835	10.855	(328)	-	-	11.375	44.317	-	44.317
As of 30 June 2022	1.380	1.124	(1.370)	90.620	12.877	(419)	414	18.956	11.375	134.957	10	134.967

			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	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	-	-	-	-	-	-	27	(5.615)	5.588	-	-	-
Total comprehensive income	-	-	(80)	7.392	2.128	(19)	-	-	(59)	9.362	-	9.362
As of 30 June 2021	1.380	1.124	(432)	36.875	(1.173)	(7)	238	10.918	(59)	48.864	9	48.873

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