POLISAN HOLDING (Convenience translation of interim consolidated financial statements originally issued in Turkish)
Polisan Holding A.Ş.
January 1 - September 30, 2022 interim condensed consolidated financial statements and footnotes
CONTENTS | PAGES | |
INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION ...................................................... | 1-2 | |
INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS ............................................................ | 3 | |
INTERIM CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME ............................... | 4 | |
INTERIM CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY....................... | 5 | |
INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS ................................................................... | 6 | |
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS......................... | 7-51 | |
NOTE 1 | GROUP'S ORGANISATION AND NATURE OF OPERATIONS .................................................................. | 7-8 |
NOTE 2 | BASIS OF PRESENTATION OF CONSOLİDATED FINANCIAL STATEMENTS......................................... | 9-13 |
NOTE 3 | SEGMENT REPORTING............................................................................................................................. | 14-18 |
NOTE 4 | CASH AND CASH EQUIVALENTS ............................................................................................................. | 19 |
NOTE 5 | FINANCIAL INVESTMENTS ....................................................................................................................... | 19 |
NOTE 6 | FINANCIAL BORROWINGS........................................................................................................................ | 20-21 |
NOTE 7 | TRADE RECEIVABLES AND PAYABLES................................................................................................... | 22 |
NOTE 8 | OTHER RECEIVABLES AND PAYABLES .................................................................................................. | 23 |
NOTE 9 | INVENTORIES............................................................................................................................................ | 23 |
NOTE 10 | PREPAID EXPENSES AND DEFERRED INCOME..................................................................................... | 24 |
NOTE 11 | CURRENT INCOME TAX ASSETS ............................................................................................................. | 24 |
NOTE 12 | INVESTMENTS ACCOUNTED USING THE EQUITY METHOD ................................................................. | 25-27 |
NOTE 13 | INVESTMENT PROPERTIES...................................................................................................................... | 27 |
NOTE 14 | RIGHT OF USE ASSETS............................................................................................................................ | 28 |
NOTE 15 | PROPERTY, PLANT AND EQUIPMENT ..................................................................................................... | 29 |
NOTE 16 | INTANGIBLE ASSETS ................................................................................................................................ | 30 |
NOTE 17 | ASSETS HELD FOR SALE ......................................................................................................................... | 31 |
NOTE 18 | PROVISIONS, CONTINGENT ASSETS AND LIABILITIES ........................................................................ . | 31-33 |
NOTE 19 | EMPLOYEE BENEFITS ............................................................................................................................. . | 34-35 |
NOTE 20 | OTHER ASSETS AND LIABILITIES ............................................................................................................ | 35 |
NOTE 21 | CAPITAL, RESERVES AND OTHER EQUITY ITEMS................................................................................. | 36-37 |
NOTE 22 | SALES AND COST OF SALES ................................................................................................................... | 38 |
NOTE 23 | EXPENSES BY NATURE............................................................................................................................ | 39 |
NOTE 24 | OTHER INCOME AND EXPENSES FROM OPERATIONS......................................................................... | 39 |
NOTE 25 | INCOME AND EXPENSES FROM INVESTMENT ACTIVITIES .................................................................. | 40 |
NOTE 26 | FINANCIAL INCOME AND EXPENSES ...................................................................................................... | 40 |
NOTE 27 | TAXES ON INCOME ................................................................................................................................... | 41-44 |
NOTE 28 | EARNINGS PER SHARE ............................................................................................................................ | 45 |
NOTE 29 | RELATED PARTY DISCLOSURES............................................................................................................. | 45-46 |
NOTE 30 | NATURE AND LEVEL OF RISK DERIVED FROM FINANCIAL INSTRUMENTS......................................... | 47-49 |
NOTE 31 | FINANCIAL INSTRUMENTS ....................................................................................................................... | 50 |
NOTE 32 | OTHER MATTERS...................................................................................................................................... | 50 |
NOTE 33 | SUBSEQUENT EVENTS............................................................................................................................. | 50 |
(Convenience translation of consolidated financial statements and notes originally issued in Turkish)
Polisan Holding A.Ş.
Interim consolidated statement of financial position as of September 30, 2022 (Amounts expressed in Turkish Lira ("TL") unless otherwise indicated.)
Current period | Prior period | ||
Unaudited | Audited | ||
September 30, | December 31, | ||
Assets | Notes | 2022 | 2021 |
Current assets | 2.022.109.888 | 1.518.359.662 | |
Cash and cash equivalents | 4 | 354.977.429 | 411.558.634 |
Financial investments | 5 | 207.064.873 | - |
Trade receivables | 7 | 782.086.334 | 631.609.052 |
- Trade receivables from related parties | 29 | 23.691.477 | 11.083.740 |
- Trade receivables from third parties | 758.394.857 | 620.525.312 | |
Other receivables | 8 | 24.002.080 | 35.864.309 |
- Other receivables from third parties | 24.002.080 | 35.864.309 | |
Inventories | 9 | 564.545.683 | 390.050.880 |
Prepaid expenses | 10 | 13.614.345 | 11.365.034 |
Current income tax assets | 11,27 | 202.576 | 323.346 |
Other current assets | 20 | 68.524.098 | 30.495.937 |
Subtotal | 2.015.017.418 | 1.511.267.192 | |
Assets held for sale | 17 | 7.092.470 | 7.092.470 |
Non-current assets | 2.605.607.015 | 2.230.284.001 | |
Other receivables | 8 | 899.173 | 771.600 |
- Other receivables from third parties | 899.173 | 771.600 | |
Investments accounted using the equity method | 12 | 553.542.765 | 525.588.374 |
Investment properties | 13 | 411.483.149 | 432.468.449 |
Property plant and equipment | 15 | 1.332.416.451 | 1.117.109.118 |
Right of use assets | 14 | 82.010.026 | 57.925.886 |
Intangible assets | 16 | 3.163.056 | 2.832.859 |
Prepaid expenses | 10 | 40.882.832 | 55.886.680 |
Deferred tax assets | 27 | 181.209.563 | 33.605.146 |
Other nun-current assets | - | 4.095.889 | |
Total assets | 4.627.716.903 | 3.748.643.663 |
The accompanying notes are an integral part of these financial statements.
(1)
(Convenience translation of consolidated financial statements and notes originally issued in Turkish)
Polisan Holding A.Ş.
Interim consolidated statement of financial position as of September 30, 2022
(Amounts expressed in Turkish Lira ("TL") unless otherwise indicated.)
Current period | Prior period | ||
Unaudited | Audited | ||
September 30, | December 31, | ||
Liabilities | Notes | 2022 | 2021 |
Current liabilities | 1.614.213.194 | 1.244.957.140 | |
Short term borrowings | 6 | 247.877.546 | 185.074.837 |
Short term portion of long term borrowings | 6 | 265.909.513 | 305.691.508 |
Derivative financial liabilities | 3.086.111 | - | |
Trade payables | 7 | 1.004.553.166 | 710.237.993 |
- Trade payables to related parties | 29 | 1.462.432 | 814.737 |
- Trade payables to third parties | 1.003.090.734 | 709.423.256 | |
Employee benefit obligations | 19 | 18.837.500 | 6.844.827 |
Other payables | 8 | 6.007.844 | 6.503.245 |
- Other payables to related parties | 170.527 | - | |
- Other payables to third parties | 5.837.317 | 6.503.245 | |
Deferred income | 10 | 9.763.841 | 6.707.749 |
Current income tax liabilities | 40.420.312 | 6.289.029 | |
Short term provisions | 18 | 13.833.725 | 13.162.107 |
- Provisions for employee termination benefits | 11.326.457 | 10.210.126 | |
- Other short term provisions | 2.507.268 | 2.951.981 | |
Other current liabilities | 20 | 3.923.636 | 4.445.845 |
Non-current liabilities | 327.087.308 | 456.805.502 | |
Long term borrowings | 6 | 268.175.688 | 342.916.692 |
Long term provisions | 19 | 30.550.200 | 16.471.786 |
- Provisions for employee termination benefits | 30.550.200 | 16.471.786 | |
Deferred tax liabilities | 27 | 28.361.420 | 97.417.024 |
Equity | 2.686.416.401 | 2.046.881.021 | |
Equity holders of the parent | 2.686.416.401 | 2.046.881.021 | |
Paid-in share capital | 21 | 758.500.000 | 758.500.000 |
Adjustment to share capital | 21 | 1.467.266 | 1.467.266 |
Share premium/discounts | 23.130.220 | 23.130.220 | |
Other comprehensive income/expense not to be | |||
reclassified to profit or loss | 667.263.460 | 473.513.987 | |
- Revaluation and measurement gain / loss | 667.263.460 | 473.513.987 | |
Defined benefit plans re-measurement loss | (46.674.407) | (25.703.357) | |
Tangible assets revaluation | 713.937.867 | 499.217.344 | |
Other comprehensive income or expense to be reclassified | |||
to loss | (28.034.930) | (40.571.862) | |
- Currency translation differences | (28.034.930) | (40.571.862) | |
Restricted reserves | 21 | 50.330.541 | 49.393.564 |
Other reserves | (208.727.832) | (208.727.832) | |
Retained earnings | 974.238.701 | 710.241.103 | |
Profit for the period | 448.248.975 | 279.934.575 | |
Total liabilities and equity | 4.627.716.903 | 3.748.643.663 |
The accompanying notes are an integral part of these financial statements.
(2)
(Convenience translation of consolidated financial statements and notes originally issued in Turkish)
Polisan Holding A.Ş.
Interim consolidated statement of profit or loss between the period
January 1 - September 30, 2022
(Amounts expressed in Turkish Lira ("TL") unless otherwise indicated.)
Unaudited | Unaudited | ||||
January 1- | January 1- | July 1- | July 1- | ||
September 30, | September 30, | September 30, | September | ||
Notes | 2022 | 2021 | 2022 | 30, 2021 | |
Profit and loss | |||||
Sales | 22 | 3.178.736.464 | 1.301.520.659 | 1.215.416.441 | 515.205.562 |
Cost of sales (-) | 22 | (2.545.997.527) | (1.050.371.723) | (1.010.654.079) | (425.079.818) |
Gross profit from commercial activities | 632.738.937 | 251.148.936 | 204.762.362 | 90.125.744 | |
General and administrative expenses (-) | (117.311.696) | (70.968.852) | (43.488.296) | (22.532.566) | |
Marketing expenses (-) | (15.106.779) | (11.127.087) | (5.218.338) | (4.388.388) | |
Research and development expenses (-) | (10.024.855) | (4.998.131) | (4.209.067) | (1.591.171) | |
Other operating income | 24 | 87.748.007 | 21.517.784 | 17.148.644 | 3.092.148 |
Other operating expenses (-) | 24 | (122.583.014) | (17.702.977) | (41.674.188) | (8.795) |
Profit from investments accounted using the equity method | 12 | 28.188.637 | (11.686.635) | (10.571.361) | (3.178.163) |
Operating profit | 483.649.237 | 156.183.038 | 116.749.756 | 61.518.809 | |
Income from investment activities | 25 | 104.952.311 | 37.945.748 | 55.968.822 | 1.349.519 |
Expense from investment activities (-) | 25 | (3.129.500) | (3.237.215) | (3.124.880) | (321.492) |
Operating profit before financial income | 585.472.048 | 190.891.571 | 169.593.698 | 62.546.836 | |
Financial income | 26 | 39.434.883 | 34.579.918 | 10.733.421 | 3.869.794 |
Financial expenses (-) | 26 | (129.876.144) | (70.503.178) | (38.432.994) | (11.825.311) |
Pre-tax profit from continuing operations | 495.030.787 | 154.968.311 | 141.894.125 | 54.591.319 | |
Continuing operations tax income/expense | |||||
- Current tax expense | 27 | (40.563.480) | (9.628.200) | (10.100.747) | (5.288.444) |
- Deferred tax income/expense | 27 | (6.218.332) | (20.495.203) | (580.552) | (4.077.864) |
Profit of continuing operations for the period | 448.248.975 | 124.844.908 | 131.212.826 | 45.225.011 | |
Profıt for the period | 448.248.975 | 124.844.908 | 131.212.826 | 45.225.011 | |
Earnings per share | 28 | 0,591 | 0,165 | 0,173 | 0,060 |
-Earnings per share for continuing operations | 0,591 | 0,165 | 0,173 | 0,060 |
The accompanying notes are an integral part of these financial statements.
(3)
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Disclaimer
Polisan Holding AS published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2022 19:33:08 UTC.
