OYAK Çimento Fabrikalari : Çimento Fabrikaları A.Ş. - Financial Statements 31.03.2022

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

OYAK ÇİMENTO FABRİKALARI ANONİM ŞİRKETİ

AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF 31 MARCH 2022

INDEX PAGE

CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION ............ 1-3

CONDENSED CONSOLIDATED INTERIM STATEMENT OF PROFIT OR LOSS AND OTHER

COMPREHENSIVE INCOME ................................................................................................................ 4-5

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY ............. 6

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS ............................. 7-8

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS ...... 9-42

OYAK ÇİMENTO FABRİKALARI ANONİM ŞİRKETİ AND ITS SUBSIDIARIES

Condensed Consolidated Statement of Financial Position as of 31 March 2022

(Amounts are expressed in Turkish Lira (TL) unless otherwise stated.)

Not reviewed	Audited
Current Period	Prior Period
31 March	31 December
Notes	2022	2021
ASSETS
Current Assets	3.072.118.930	2.600.687.269
Cash and Cash Equivalents	3	240.784.896	314.816.289
Financial Investments	9	198.324.142	161.744.987
Trade Receivables	4-5	1.245.136.950	1.245.626.388
Trade Receivables from Related Parties	4	144.776.182	129.697.429
Trade Receivables from Third Parties	1.100.360.768	1.115.928.959
Other Receivables	14.538.816	19.066.575
Other Receivables from Related Parties	4	3.822.799	14.594.486
Other Receivables from Third Parties	10.716.017	4.472.089
Inventories	6	1.200.664.427	769.392.993
Prepaid Expenses	7	63.150.845	67.064.289
Other Current Assets	108.254.508	21.711.402
Assets Held for Sale	1.264.346	1.264.346
Non-current Assets	2.350.341.222	2.274.946.920
Other Receivables	3.893.566	4.980.297
Other Receivables from Third Parties	3.893.566	4.980.297
Investment Properties	17.694.832	17.694.832
Right-of-use Assets	20.032.306	24.688.677
Property, Plant and Equipment	8	2.074.949.112	2.000.700.068
Intangible assets	72.196.743	75.530.078
Goodwill	7.062.941	7.062.941
Other Intangible Assets	8	65.133.802	68.467.137
Prepaid Expenses	7	45.207.382	37.873.147
Deferred Tax Assets	14	114.276.420	111.336.537
Other Non-current Assets	2.090.861	2.143.284
TOTAL ASSETS	5.422.460.152	4.875.634.189

1

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

OYAK ÇİMENTO FABRİKALARI ANONİM ŞİRKETİ AND ITS SUBSIDIARIES

Condensed Consolidated Statement of Financial Position as of 31 March 2022

(Amounts are expressed in Turkish Lira (TL) unless otherwise stated.)

Not reviewed	Audited
Current Period	Prior Period
31 March	31 December
Notes	2022	2021
LIABILITIES AND EQUITY
Current Liabilities	1.701.831.777	1.386.278.336
Short-term Borrowings	12	368.339.448	132.944.958
Short-term Portion of Long-term Borrowings	12	5.681.808	12.888.532
Trade Payables	4-5	1.070.386.619	1.014.177.159
Trade Payables to Related Parties	4	217.911.616	174.973.672
Trade Payables to Third Parties	852.475.003	839.203.487
Payables Related to Employee Benefits	36.576.896	16.333.514
Other Payables	29.498.764	21.894.351
Other Payables to Related Parties	4	3.810.215	3.685.898
Other Payables to Third Parties	25.688.549	18.208.453
Deferred Income	7	84.348.516	57.144.473
Current Tax Liabilities	14	55.493.796	69.731.912
Short-term Provisions	50.831.815	61.076.491
Short-term Provisions for Employee Benefits	7.875.010	27.450.000
Other Short-term Provisions	10	42.956.805	33.626.491
Other Short-term Liabilities	674.115	86.946
Non-current Liabilities	521.859.939	511.434.660
Long-term Borrowings	12	319.740.112	321.197.169
Deferred Income	7	4.030.108	4.030.108
Long-term Provisions	198.089.719	186.207.383
Long-term Provisions for Employee Benefits	191.231.008	179.948.672
Other Long-term Provisions	10	6.858.711	6.258.711
TOTAL LIABILITIES

2.223.691.716

1.897.712.996

2

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

OYAK ÇİMENTO FABRİKALARI ANONİM ŞİRKETİ AND ITS SUBSIDIARIES

Condensed Consolidated Statement of Financial Position as of 31 March 2022

(Amounts are expressed in Turkish Lira (TL) unless otherwise stated.)

Not reviewed	Audited
Current Period	Prior Period
31 March	31 December
Notes	2022	2021
EQUITY
Equity Attributable to Parent	3.198.768.436	2.977.921.193
Paid-in Capital	13	1.159.793.441	1.159.793.441
Capital Adjustment Differences	13	134.868.176	134.868.176
Repurchased Shares (-)	(6.935.220)	(6.935.220)
Share Premiums (Discounts)	234.322	234.322
Other Accumulated Comprehensive Income
(Expenses) That Will Not Be Reclassified To
Profit or Loss	(44.705.178)	(44.705.178)
- Gains (Losses) on Remeasurement of Defined
Benefit Plans	(44.705.178)	(44.705.178)
Other Accumulated Comprehensive Income
(Expenses) That Will Be Reclassified To
Profit or Loss	2.502.300	4.060.363
- Foreign Currency Translation Differences	2.502.300	4.060.363
Restricted Reserves Appropriated from Profit	13	405.954.871	405.954.871
The Effect of Mergers Involving Undertaking or
Enterprises Subject to Common Control	(305.979.569)	(305.979.569)
Retained earnings	1.630.629.988	905.464.705
Net Profit for the Period	222.405.305	725.165.282
TOTAL LIABILITIES AND EQUITY

3.198.768.436

2.977.921.193

5.422.460.152

4.875.634.189

3

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