EMLAK KONUT GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY - 31 MARCH 2023
(CONVENIENCE TRANSLATION OF THE REPORT AND THE FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)
EMLAK KONUT GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. AND ITS SUBSIDARIES
INDEX | PAGE |
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION ……………………………………………
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME…………………………………………………………………
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY………………………………………………
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS………………………………………………………
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS…………………………………………
NOTE 1 | ORGANIZATION AND OPERATION OF THE GROUP……………………………………………………………….……… |
NOTE 2 | BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS………………………………………… |
NOTE 3 | ACCOUNTING POLICIES…………………………………………………………………………………………………..……… |
NOTE 4 | CASH AND CASH EQUIVALENTS…………………………………………………………………………………………..…… |
NOTE 5 | FINANCIAL LIABILITIES………………………………………………………………………………………………………… |
NOTE 6 | TRADE RECEIVABLES AND PAYABLES …………………………………………………………………………………..…… |
NOTE 7 | OTHER RECEIVABLES AND PAYABLES…………………………………………………………………………………..…… |
NOTE 8 | INVENTORIES………………………………………………………………………………………………………………..……… |
NOTE 9 | INVESTMENT PROPERTIES ……………………………………………………………………………………………..……… |
NOTE 10 | PROPERTY, PLANT AND EQUIPMENT………………………………………………………………………………………… |
NOTE 11 | PROVISIONS, CONTINGENT ASSETS AND LIABILITIES……………………………………………………………………… |
NOTE 12 | OTHER ASSETS AND LIABILITIES…………………………………………………………………………………..…………… |
NOTE 13 | DEFERRED INCOME AND PREPAID EXPENSES……………………………………………………………………………… |
NOTE 14 | SHAREHOLDERS' EQUITY……………………………………………………………………………………………….……… |
NOTE 15 | REVENUE AND COST OF SALES…………………………………………………………………………………………… |
NOTE 16 | GENERAL ADMINISTRATIVE EXPENSES, MARKETING EXPENSES……………………………………………………… |
NOTE 17 | OTHER INCOME / EXPENSES FROM OPERATING ACTIVITIES …………………………………………………………… |
NOTE 18 | FINANCIAL INCOME / EXPENSES…………………………………………………………………………………................… |
NOTE 19 | TAXATION ON INCOME (DEFERRED TAX AND LIABILTIES INCLUDED)………………………………………………… |
NOTE 20 | RELATED PARTY DISCLOSURES……………………………………………………………………………………………….. |
NOTE 21 | COMMITMENTS…………………………………………………………………………………………………………..………… |
NOTE 22 | EVENTS AFTER THE REPORTING PERIOD………………………………………………………………………………… |
ADDITIONAL NOTE CONTROL OF COMPLIANCE WITH THE PORTFOLIO LIMITATIONS………………………………………………………
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EMLAK KONUT GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF 31 MARCH 2023
(Amounts are expressed in thousand Turkish Lira ("TL") unless otherwise stated.)
Unaudited | Audited | ||
31 March | 31 December | ||
Notes | 2023 | 2022 | |
ASSETS | |||
Current assets | 46,746,508 | 42,141,914 | |
Cash and cash equivalents | 4 | 8,638,573 | 6,107,609 |
Trade receivables | 6 | 3,231,328 | 3,268,382 |
Trade receivables due from third parties | 3,231,328 | 3,268,382 | |
Other receivables | 892,045 | 577,700 | |
Other receivables due from third parties | 7 | 892,045 | 577,700 |
Inventories | 8 | 30,758,357 | 28,955,350 |
Prepaid expenses | 1,985,496 | 2,374,680 | |
Prepaid expenses to related parties | 20 | 684,499 | 1,433,207.00 |
Prepaid expenses to third parties | 13 | 1,300,997 | 941,473 |
Other current assets | 12 | 1,239,554 | 852,225 |
Current tax assets | 1,155 | 5,968 | |
Non-current assets | 4,581,676 | 4,817,265 | |
Trade receivables | 6 | 3,747,404 | 3,730,187 |
Trade receivables due from third parties | 3,747,404 | 3,730,187 | |
Other receivables | 7 | 22,182 | 21,650 |
Other receivables due from third parties | 22,182 | 21,650 | |
Investments accounted for using equity method | 841 | 841 | |
Investment properties | 9 | 445,541 | 742,683 |
Right-of-use assets | 16,698 | 17,721 | |
Property, plant and equipment | 10 | 330,947 | 285,862 |
Intangible assets | 7,614 | 7,965 | |
Deferred tax assets | 19 | 10,449 | 10,356 |
Total assets | 51,328,184 | 46,959,179 |
The accompanying notes form an integral part of these condensed consolidated financial statements.
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EMLAK KONUT GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF 31 MARCH 2023
(Amounts are expressed in thousand Turkish Lira ("TL") unless otherwise stated.)
Unaudited | Audited | ||
31 March | 31 December | ||
Notes | 2023 | 2022 | |
LIABILITIES AND EQUITY | |||
Current liabilities | 30,078,366 | 25,293,981 | |
Short-term borrowings | 5 | 2,457,696 | 1,300,263 |
Short-term portions of long-term borrowings | 6 | 2,135,258 | 1,814,145 |
Trade payables | 6 | 2,003,422 | 2,956,858 |
Trade payables due to related parties | 20 | 976,954 | 1,774,954 |
Trade payables due to third parties | 1,026,468 | 1,181,904 | |
Other payables | 7 | 1,285,753 | 516,169 |
Other payables to related parties | 20 | 870,150 | 593 |
Other payables to third parties | 415,603 | 515,576 | |
Deferred income | 13 | 21,902,174 | 18,423,670 |
Deferred income from related parties | 20 | 2,009,307 | 1,004,341 |
Deferred income from third parties | 19,892,867 | 17,419,329 | |
Short-term provisions | 294,063 | 282,876 | |
Short-term provisions for employee benefits | 40,557 | 35,536 | |
Other short-term provisions | 11 | 253,506 | 247,340 |
Non-current liabilities | 3,038,877 | 3,297,175 | |
Long-term borrowings | 2,780,955 | 3,103,650 | |
Trade payables | 6 | - | 20 |
Trade payables due to third parties | - | 20 | |
Other payables | 7 | 180,046 | 117,382 |
Other payables to third parties | 180,046 | 117,382 | |
Deferred income | 13 | 4,738 | 4,738 |
Deferred income from third parties | 4,738 | 4,738 | |
Long-term provisions | 50,813 | 48,753 | |
Long-term provisions for employee benefits | 50,813 | 48,753 | |
Deferred tax liability | 19 | 22,325 | 22,632 |
Shareholders' equity | 18,210,941 | 18,368,023 | |
Total equity attributable to equity holders of the Company | 18,210,941 | 18,368,023 | |
Paid-in capital | 14 | 3,800,000 | 3,800,000 |
Treasury shares (-) | (535,604) | (296,231) | |
Share premium (discounts) | 2,366,895 | 2,366,895 | |
Other equity reserves | 70,728 | - | |
Other comprehensive income (expense) not to be | |||
reclassified to profit or loss | (42) | (42) | |
Gain (loss) on revaluation and | |||
remeasurement | (42) | (42) | |
Restricted reserves appropriated from profit | 984,440 | 882,670 | |
Retained earnings | 10,643,404 | 8,617,598 | |
Net profit for the year | 881,120 | 2,997,133 | |
Total liabilities and equity | 51,328,184 | 46,959,179 |
The accompanying notes form an integral part of these condensed consolidated financial statements.
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EMLAK KONUT GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR
THE INTERIM PERIOD ENDED 31 MARCH 2023
(Amounts are expressed in thousand Turkish Lira ("TL") unless otherwise stated.)
Unaudited | Unaudited | ||
1 January- | 1 January- | ||
Notes | 31 March 2023 | 31 March 2022 | |
Revenue | 15 | 4,037,039 | 2,230,583 |
Cost of sales (-) | 15 | (1,967,126) | (1,214,743) |
Gross profit | 2,069,913 | 1,015,840 | |
General administrative expenses (-) | 16 | (1,040,142) | (132,106) |
Marketing expenses (-) | 16 | (57,843) | (28,147) |
Other income from operating activities | 17 | 170,547 | 100,005 |
Other expenses from operating activities (-) | 17 | (262,495) | (199,593) |
Operating profit | 879,980 | 755,999 | |
Income from investing activities | - | - | |
Operating profit before financial income / (expense) | 879,980 | 755,999 | |
Financial income | 18 | 261,015 | 130,354 |
Financial expenses (-) | 18 | (260,275) | (143,964) |
Profit from continuing operations, before tax | 880,720 | 742,389 | |
Tax (expense)/income from continuing operations | 400 | (4,592) | |
Current period tax expense | 19 | - | (7,153) |
Deferred tax income | 19 | 400 | 2,561 |
Net profit for the period | 881,120 | 737,797 | |
Profit for the period is attributable to: | |||
Non-controlling interests | - | - | |
Owners of the Company | 881,120 | 737,797 | |
Total comprehensive income for the period | 881,120 | 737,797 | |
Total comprehensive income is attributable to: | |||
Non-controlling interests | - | - | |
Owners of the Company | 881,120 | 737,797 | |
Earnings per share (in full TL) | 0.0023 | 0.0020 |
The accompanying notes form an integral part of these condensed consolidated financial statements.
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Emlak Konut Gayrimenkul Yatirim Ortakligi AS published this content on 09 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 May 2023 17:07:02 UTC.