AKSA ENERJİ ÜRETİM A.Ş.

AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED FINANCIAL

STATEMENTS FOR THE NINE-MONTH PERIOD

ENDED 30 SEPTEMBER 2021

INDEX

PAGE

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION ..........................................................

1-3

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS....................................................................

4

CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME ................................

5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ...........................................................

6

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS ..........................................................................

7

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS......................................................

8-54

NOTE 1

ORGANIZATION AND OPERATIONS OF THE GROUP

8-11

NOTE 2

BASIS OF PRESENTATION OF THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

11-21

NOTE 3

OPERATING SEGMENTS

22-23

NOTE 4

RELATED PARTY DISCLOSURES

23-26

NOTE 5

FINANCIAL INVESTMENTS

27

NOTE 6

TRADE RECEIVABLES AND PAYABLES

27-28

NOTE 7

BORROWINGS

28-30

NOTE 8

PROPERTY, PLANT AND EQUIPMENT

30-33

NOTE 9

RIGHT-OF-USE ASSETS

33-34

NOTE 10

COMMITMENTS

34-35

NOTE 11

SHARE CAPITAL, RESERVES AND OTHER EQUITY ITEMS

36-38

NOTE 12

REVENUE

39

NOTE 13

FINANCIAL INCOME

39

NOTE 14

FINANCIAL EXPENSES

40

NOTE 15

TAXATION

40-42

NOTE 16

EARNINGS PER SHARE

43

NOTE 17

FINANCIAL INSTRUMENTS

43-45

NOTE 18

NATURE AND LEVEL OF RISKS ARISING FROM FINANCIAL INSTRUMENTS

46-52

NOTE 19

FINANCIAL INSTRUMENTS (FAIR VALUE DISCLOSURES AND EXPLANATION ON

HEDGE ACCOUNTING)

52-53

NOTE 20

NOTES ON THE STATEMENT OF CASH FLOWS

53-54

NOTE 21

EVENTS AFTER THE REPORTING PERIOD

54

AKSA ENERJİ ÜRETİM A.Ş. AND ITS SUBSIDIARIES

Unaudited Condensed Consolidated Statement of Financial Position As At 30 September 2021

(Amounts expressed in Turkish Liras ("TL"), unless otherwise stated.)

Unaudited/

Audited/

Current period

Prior period

ASSETS

Notes

30 September 2021

31 December 2020

Current assets

Cash and cash equivalents

396,425,542

314,171,908

Financial investments

5

588,124,192

-

Trade receivables

3,511,816,718

2,705,620,407

- Trade receivables from related parties

4

643,749,471

311,085,412

- Trade receivables from third parties

6

2,868,067,247

2,394,534,995

Other receivables

100,782,037

76,414,447

- Other receivables from related parties

4

55,578,157

42,317,908

- Other receivables from third parties

45,203,880

34,096,539

Derivative instruments

1,223,809

2,148,922

Inventories

354,453,794

138,322,794

Prepaid expenses

491,823,319

116,007,264

Current tax assets

-

37,623,113

Other current assets

133,106,697

73,474,659

Total current assets

5,577,756,108

3,463,783,514

Non-current assets

Financial investments

5

412,408

412,408

Other receivables

4,234,394

6,529,795

- Other receivables from third parties

4,234,394

6,529,795

Property, plant and equipment

8

6,970,875,658

5,655,050,521

Right-of-use assets

9

70,298,541

73,524,027

Intangible assets

162,001,212

115,884,555

- Other intangible assets

162,001,212

115,884,555

Prepaid expenses

698,705

2,289,464

Deferred tax asset

15

134,582,235

185,220,021

Total non-current assets

7,343,103,153

6,038,910,791

TOTAL ASSETS

12,920,859,261

9.502.694.305

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

1

AKSA ENERJİ ÜRETİM A.Ş. AND ITS SUBSIDIARIES

Unaudited Condensed Consolidated Statement of Financial Position As At 30 September 2021

(Amounts expressed in Turkish Liras ("TL"), unless otherwise stated.)

Unaudited/

Audited/

Current period

Prior period

LIABILITIES

Notes

30 September 2021

31 December 2020

Current liabilities

Short-term borrowings

7

1,334,673,973

728,277,260

Short-term portion of long-term borrowings

1,325,786,575

1,292,953,512

Short-term finance lease liabilities

7

3,264,253

830,908

- Finance lease liabilities from related parties

194,162

-

- Finance lease liabilities from third parties

7

3,070,091

830,908

Short-term portion of long-term finance lease

liabilities

7

3,108,114

3,396,047

Other financial liabilities

7

-

11,181,406

Trade payables

1,470,043,518

779,913,222

- Trade payables to related parties

4

45,459,208

35,657,639

- Trade payables to third parties

6

1,424,584,310

744,255,583

Payables related to employee benefits

12,647,326

8,597,007

Other payables

231,317,612

197,359,546

- Other payables to third parties

231,317,612

197,359,546

Derivative instruments

45,051,376

60,716,151

Current tax liabilities

431,322,611

183,176,286

Short-term provisions

10,062,684

23,855,979

- Short-term provisions for employee benefits

1,779,401

980,104

- Other short-term provisions

8,283,283

22,875,875

Other current liabilities

12,908,452

7,406,200

Total current liabilities

4,880,186,494

3,297,663,524

Non-current liabilities

Long-term borrowings

7

1,550,832,764

834,709,520

Long-term finance lease liabilities

7

68,054,426

74,975,209

Other payables

7,254,333

72,221,252

- Other payables to third parties

7,254,333

72,221,252

Long-term provisions

6,913,360

9,346,433

- Long-term provisions for employee benefits

6,913,360

9,346,433

Deferred tax liabilities

15

460,929,131

588,434,184

Total non-current liabilities

2,093,984,014

1,579,686,598

TOTAL LIABILITIES

6,974,170,508

4,877,350,122

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

2

AKSA ENERJİ ÜRETİM A.Ş. AND ITS SUBSIDIARIES

Unaudited Condensed Consolidated Statement of Financial Position As At 30 September 2021

(Amounts expressed in Turkish Liras ("TL"), unless otherwise stated.)

Unaudited/

Audited/

Current period

Prior period

EQUITY

Notes

30 September 2021

31 December 2020

Equity Attributable to Owners of the

Company

Share capital

11

613,169,118

613,169,118

Share premiums

11

247,403,635

247,403,635

Accumulated other comprehensive income

not to be reclassified in profit or loss

2,125,338,081

2,196,268,403

- Gains on revaluation of property, plant and

2,125,192,942

equipment

2,196,123,264

- Gain on remeasurements of the defined

benefit plans

145,139

145,139

Accumulated other comprehensive income

that will be reclassified in profit or loss

794,914,236

493,973,142

- Foreign currency translation differences

946,097,109

520,339,505

-Gain / (loss) of hedging reserve

(151,182,873)

(26,366,363)

Restricted reserves appropriated from profit

11

82,931,556

68,742,954

Prior years' profit

11

656,369,924

129,592,233

Net profit for the period

813,268,257

470,035,971

Total equity attributable to

equity holders of the Company

5,333,394,807

4,219,185,456

Non-controlling interests

11

613,293,946

406,158,727

Total equity

5,946,688,753

4,625,344,183

TOTAL LIABILITIES AND EQUITY

12,920,859,261

9,502,694,305

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

3

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Aksa Enerji Uretim AS published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 10:02:11 UTC.