(CONVENIENCE TRANSLATION OF FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)

ARÇELİK ANONİM ŞİRKETİ

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD

JANUARY 1 - SEPTEMBER 30, 2022

Sensitivity: Public

CONTENTS

PAGES

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION.....................

1-3

CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS...................................

4

CONDENSED CONSOLIDATED STATEMENTS OF

OTHER COMPREHENSIVE INCOME……………………………………………………………..5

CONDENSED CONSOLIDATED STATEMENTS OF

CHANGES IN SHAREHOLDERS' EQUITY……………………………………………………….6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS………………….……….7

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS…………8-54

NOTE 1 - GROUP'S ORGANISATION AND NATURE OF OPERATIONS ....................................................

8

NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS ......................

10

NOTE 3 - BUSINESS COMBINATION .............................................................................................................

15

NOTE 4 - SEGMENT REPORTING ...................................................................................................................

16

NOTE 5 - CASH AND CASH EQUIVALENTS.................................................................................................

18

NOTE 6 - FINANCIAL INVESTMENTS ...........................................................................................................

19

NOTE 7 - BORROWINGS ..................................................................................................................................

20

NOTE 8 - DERIVATIVE INSTRUMENTS ........................................................................................................

25

NOTE 9 - TRADE RECEIVABLES AND PAYABLES.....................................................................................

26

NOTE 10 - OTHER PAYABLES ........................................................................................................................

27

NOTE 11 - INVENTORIES.................................................................................................................................

27

NOTE 12 - INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD......................................

28

NOTE 13 - PROPERTY, PLANT AND EQUIPMENT ......................................................................................

29

NOTE 14 - OTHER INTANGIBLE ASSETS .....................................................................................................

30

NOTE 15 - COMMITMENTS, CONTINGENT ASSETS AND LIABILITIES .................................................

31

NOTE 16 - OTHER PROVISIONS .....................................................................................................................

32

NOTE 17 - PREPAID EXPENSES......................................................................................................................

32

NOTE 18 - CURRENT INCOME TAX ASSETS ...............................................................................................

32

NOTE 19 - EMPLOYEE BENEFIT OBLIGATIONS .........................................................................................

32

NOTE 20 - OTHER ASSETS AND LIABILITIES .............................................................................................

33

NOTE 21 - EQUITY ............................................................................................................................................

34

NOTE 22 - OTHER INCOME AND EXPENSES FROM OPERATING ACTIVITIES ....................................

36

NOTE 23 - INCOME AND EXPENSES FROM INVESTMENT ACTIVITIES................................................

37

NOTE 24 - FINANCIAL INCOME .....................................................................................................................

37

NOTE 25 - FINANCIAL EXPENSES .................................................................................................................

38

NOTE 26 - TAX ASSETS AND LIABILITIES ..................................................................................................

38

NOTE 27 - EARNINGS PER SHARE.................................................................................................................

40

NOTE 28 - RELATED PARTY DISCLOSURES ...............................................................................................

41

NOTE 29 - FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT .................................

43

NOTE 30 - FINANCIAL INSTRUMENTS.........................................................................................................

52

NOTE 31 - SUPPLEMENTARY CASH FLOW INFORMATION ....................................................................

54

NOTE 32 - EVENTS AFTER BALANCE SHEET DATE .................................................................................

54

Sensitivity: Public

(CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)

ARÇELİK ANONİM ŞİRKETİ

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2022, AND DECEMBER 31, 2021

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated.)

Unaudited

Audited

September

December

Notes

30, 2022

31, 2021

ASSETS

Current assets:

Cash and cash equivalents

5

20,425,396

16,014,589

Trade receivables

-Due from related parties

28

591,558

269,306

-Due from third parties

9

33,476,323

23,142,238

Derivative instruments

8

63,145

16,094

Inventories

11

31,948,790

16,828,699

Prepaid expenses

17

1,152,374

648,799

Current income tax assets

18

539,344

415,431

Other current assets

20

2,964,256

2,259,652

Total current assets

91,161,186

59,594,808

Non-current assets:

Financial investments

6

30,328

10,531

Trade receivables

-Due from third parties

9

37,588

45,865

Derivative instruments

8

-

19,157

Investments accounted for using the equity method

12

928,886

855,409

Property, plant and equipment

13

19,884,651

13,125,336

Intangible assets

-Goodwill

3,701,898

2,844,448

-Other intangible assets

14

9,172,728

6,573,315

Prepaid expenses

17

263,366

186,057

Deferred tax assets

26

3,459,898

1,823,680

Total non-current assets

37,479,343

25,483,798

Total assets

128,640,529

85,078,606

The accompanying notes form an integral part of these condensed interim consolidated financial statements.

1

Sensitivity: Public

(CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)

ARÇELİK ANONİM ŞİRKETİ

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2022, AND DECEMBER 31, 2021

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated.)

Unaudited

Audited

September

December 31,

Notes

30, 2022

2021

LIABILITIES

Current liabilities:

Short-term borrowings

7

19,379,986

10,584,261

Short-term portion of long-term borrowings

7

15,492,420

2,459,839

Trade payables

-Due to related parties

28

3,504,314

1,592,704

-Due to third parties

9

27,679,439

18,076,327

Derivative instruments

8

357,678

245,292

Employee benefit obligations

19

1,718,442

775,090

Other payables

-Due to third parties

10

1,835,830

1,245,608

Current income tax liabilities

26

241,065

55,292

Provisions

-Other provisions

16

3,507,947

2,087,963

Other current liabilities

20

5,128,080

3,379,248

Total current liabilities

78,845,201

40,501,624

Non-current liabilities:

Long-term borrowings

7

13,669,269

19,535,399

Provisions

-Provision for employee benefits

1,467,038

935,609

-Other provisions

16

664,016

439,072

Deferred tax liabilities

26

2,046,997

1,528,994

Other non-current liabilities

20

6,779,373

1,082,693

Total non-current liabilities

24,626,693

23,521,767

Total liabilities

103,471,894

64,023,391

The accompanying notes form an integral part of these condensed interim consolidated financial statements.

2

Sensitivity: Public

(CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)

ARÇELİK ANONİM ŞİRKETİ

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2022 AND DECEMBER 31, 2021

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated.)

Unaudited

Audited

September

December

Notes

30, 2022

31, 2021

EQUITY

Paid-in capital

21

675,728

675,728

Adjustment to share capital

21

468,811

468,811

Treasury shares

21

(3,098,160)

(1,215,266)

Share premium/discount

889

889

Other accumulated comprehensive income and expense not to be

reclassified to profit or loss

Gains/ losses on revaluation and remeasurement

-Gain/loss arising from defined

benefit plans

(718,711)

(396,514)

-Revaluation/ remeasurement of intangible assets

6,900

6,900

- Other gains/ losses on revaluation and remeasurement

11,894

6,109

Other accumulated comprehensive income and expense to be

reclassified to profit or loss

Currency translation differences

17,766,670

11,381,483

Gains/ losses on hedge

-Gains/ losses on hedges of net investment

in foreign operations

(2,630,561)

(1,835,770)

-Gains/ losses on cash flow hedges

(7,442)

15,080

Balancing account for merger capital

14,507

14,507

Restricted reserves

21

3,800,517

1,771,002

Retained earnings

5,076,450

5,425,850

Net income for the period

1,759,931

3,064,674

Equity holders of the parent

23,127,423

19,383,483

Non-controlling interest

2,041,212

1,671,732

Total equity

25,168,635

21,055,215

Total liabilities and equity

128,640,529

85,078,606

The accompanying notes form an integral part of these condensed interim consolidated financial statements.

3

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Arcelik AS published this content on 21 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2022 15:49:06 UTC.