Quarterly Report • Feb 14, 2025
Quarterly Report
Open in ViewerOpens in native device viewer
| Audited | Audited | ||
|---|---|---|---|
| 31 December | 31 December | ||
| ASSETS | Notes | 2024 | 2023 |
| CURRENT ASSETS | 3.563.677.523 | 9.412.698.221 | |
| Cash and cash equivalents | 4 | 1.403.982.704 | 1.296.045.485 |
| Trade receivables | |||
| - Trade receivables from third parties | 7 | 202.779.665 | 129.576.915 |
| Other receivables | |||
| - Other receivables from third parties | 8 | 3.401.141 | 5.838.761 |
| Inventories | 12 | 1.701.923.344 | 7.454.367.565 |
| Prepaid expenses | 9 | 7.780.887 | 108.293.976 |
| Current income tax assets | 10 | 28.477.774 | 26.714.219 |
| Other current assets | 10 | 215.332.008 | 391.861.300 |
| NON-CURRENT ASSETS | 18.524.768.327 | 12.154.953.164 | |
| Trade receivables | |||
| - Trade receivables from third parties | 7 | 23.536.116 | -- |
| Other receivables | |||
| - Other receivables from third parties | 8 | 5.300.695 | 1.550.352 |
| Inventories | 12 | 2.208.040.398 | 1.867.217.597 |
| Investment properties | 11 | 15.898.018.000 | 9.637.802.662 |
| Tangible assets | 13 | 14.152.136 | 14.021.448 |
| Intangible assets | |||
| - Other intangible assets | 14 | 1.012.105 | 3.271.628 |
| Prepaid expenses | 9 | 367.052.130 | 416.763.084 |
| Other non-current assets | 10 | 7.656.747 | 214.326.393 |
| TOTAL ASSETS | 22.088.445.850 | 21.567.651.385 |
| Audited | Audited | ||
|---|---|---|---|
| 31 December | 31 December | ||
| LIABILITIES | Notes | 2024 | 2023 |
| CURRENT LIABILITIES | 931.514.351 | 5.554.577.329 | |
| Short-term portion of long-term borrowings | |||
| - Short-term portion of long-term borrowings from related | |||
| parties | 3,6 | 11.301.076 | 149.613.845 |
| Trade payables | |||
| - Trade payables to related parties | 3,7 | 965.713 | 256.864 |
| - Trade payables to third parties | 7 | 169.629.394 | 879.764.711 |
| Payables for employee benefits | 1.684.540 | 3.296.279 | |
| Other payables | |||
| - Other payables to third parties | 8 | 2.369.531 | 19.715.982 |
| Deferred revenue (Other than contract liabilities) | |||
| - Deferred revenue to related parties | 3,17 | 369.503.960 | 271.253.400 |
| - Deferred revenue to third parties | 17 | 347.637.113 | 4.166.839.854 |
| Short term provisions | |||
| - Short-term provisions for employee benefits | 16 | 6.785.641 | 5.596.982 |
| Other current liabilities | 17 | 21.637.383 | 58.239.412 |
| NON-CURRENT LIABILITIES | 2.992.026.495 | 413.555.853 | |
| Long term borrowings | |||
| - Long term borrowings from related parties | 3,6 | -- | 14.638.730 |
| Other Payables | |||
| - Other payables to third parties | 8 | 42.521.472 | 36.173.476 |
| Deferred revenue (Other than contract liabilities) | |||
| - Deferred revenue from third parties | 17 | 238.133.470 | 328.552.131 |
| Long term provisions | |||
| - Long-term provisions for employee benefits | 16 | 3.686.850 | 4.641.750 |
| - Other long-term provisions | 16 | 20.466.836 | 29.549.766 |
| Deferred tax liability | 2.687.217.867 | -- | |
| TOTAL LIABILITIES | 3.923.540.846 | 5.968.133.182 | |
| EQUITY | 18.164.905.004 | 15.599.518.203 | |
| Paid-in capital | 18 | 3.450.000.000 | 2.950.000.000 |
| Adjustment to share capital | 18 | 10.874.292.398 | 10.842.942.444 |
| Share premiums | 18 | 33.246.610 | 33.246.610 |
| Other comprehensive income not to be reclassified | |||
| to profit or loss | |||
| - (Loss) / gain on remeasurement of employee benefits | 18 | (2.716.269) | (2.393.949) |
| Restricted reserves appropriated from profit | 239.314.743 | 210.285.447 | |
| Retained earnings/(losses) | 533.565.778 | (362.843.548) | |
| Net profit for the year | 3.037.201.744 | 1.928.281.199 | |
| TOTAL LIABILITIES AND EQUITY | 22.088.445.850 | 21.567.651.385 |
| Audited | Audited | |
|---|---|---|
| PROFIT / LOSS | 1 January 2024 - | 1 January 2023 - |
| 31 December 2024 | 31 December 2023 | |
| Revenue | 6.079.520.871 | 2.047.542.526 |
| Cost of sales (-) | (4.905.589.782) | (936.370.233) |
| Gross Profit | 1.173.931.089 | 1.111.172.293 |
| General administrative expenses (-) | (219.549.512) | (222.848.270) |
| Marketing expenses (-) | (97.455.989) | (97.213.670) |
| Other operating income | 5.587.959.344 | 2.006.677.217 |
| Other operating expense (-) | (749.828.639) | (445.140.845) |
| Operating Income/(Expenses) | 5.695.056.293 | 2.352.646.725 |
| Operating Profit Before Financial Income / (Expenses) | 5.695.056.293 | 2.352.646.725 |
| Financial expenses (-) | (13.282.942) | (134.349.415) |
| Financial Income / (Expenses), Net | (13.282.942) | (134.349.415) |
| Profit From Continuing Operations Before Tax | 5.681.773.351 | 2.218.297.310 |
| Monetary Gain / (Loss) | (428.708.226) | (290.016.111) |
| Tax Income / (Expense) | (2.215.863.381) | -- |
| - Deferred Tax Income / (Expense) | (2.215.863.381) | -- |
| Net Profit for the Year | 3.037.201.744 | 1.928.281.199 |
| OTHER COMPREHENSIVE (LOSS)/INCOME Other comprehensive income not to be reclassified to profit or loss |
||
| - Gain or loss from the remeasurement of employee benefits | (460.457) | (1.068.433) |
| - Deferred Tax Income / (Expense) | 138.137 | -- |
| Total Other Comprehensive (Loss)/Income | (322.320) | (1.068.433) |
| Total Comprehensive Income | 3.036.879.424 | 1.927.212.766 |
| Earnings per share (in full TRY) | 0,880 | 0,559 |
| (Amounts expressed in Turkish Lira ("TRY") in terms of purchasing power of the TL at 31 December | 2024 | unless otherwise indicated.) | ||||||
|---|---|---|---|---|---|---|---|---|
| Other comprehensive income |
Retained Earnings | |||||||
| Paid in Capital |
Adjustment to share capital |
Share premium | Remeasurement of employee benefits |
Restricted Reserves |
Retained Earnings |
Net Profit for the year |
Total Equity | |
| Balances as of 1 January 2023 | 1.145.000.000 | 6.880.200.429 | 3.150.788.393 | (1.325.516) | 139.193.438 | (1.300.393.066) | 2.521.732.967 | 12.535.196.645 |
| Capital increase through equity components Capital increase |
1.232.500.000 572.500.000 |
3.398.133.223 564.608.792 |
(3.117.541.783) -- |
-- -- |
-- -- |
(1.513.091.440) -- |
-- -- |
-- 1.137.108.792 |
| Transfers | -- | -- | -- | -- | 71.092.009 | 2.450.640.958 | (2.521.732.967) | -- |
| Total comprehensive income | -- | -- | -- | (1.068.433) | -- | -- | 1.928.281.199 | 1.927.212.766 |
| Balances as of 31 December 2023 |
2.950.000.000 | 10.842.942.444 | 33.246.610 | (2.393.949) | 210.285.447 | (362.843.548) | 1.928.281.199 | 15.599.518.203 |
| Balances as of 1 January 2024 | 2.950.000.000 | 10.842.942.444 | 33.246.610 | (2.393.949) | 210.285.447 | (362.843.548) | 1.928.281.199 | 15.599.518.203 |
| Capital increase through equity components | 500.000.000 | 31.349.954 | -- | -- | -- | (531.349.954) | -- | -- |
| Transfers | -- | -- | -- | -- | 29.029.296 | 1.899.251.903 | (1.928.281.199) | -- |
| Total comprehensive income | -- | -- | -- | (322.320) | -- | -- | 3.037.201.744 | 3.036.879.424 |
| Other | -- | -- | -- | -- | -- | (471.492.623) | -- | (471.492.623) |
| Balances as of 31 December 2024 | 3.450.000.000 | 10.874.292.398 | 33.246.610 | (2.716.269) | 239.314.743 | 533.565.778 | 3.037.201.744 | 18.164.905.004 |
| Audited | Audited | ||
|---|---|---|---|
| 1 January – | 1 January – | ||
| Notes | 31 December 2024 | 31 December 2023 | |
| A. Cash flows from operating activities: | 169.546.465 | (1.025.419.362) | |
| Profit for the year | 3.037.201.744 | 1.928.281.199 | |
| Adjustments to reconcile net profit | (3.355.629.651) | (859.040.338) | |
| Depreciation and amortization expenses | 13, 14 | 5.016.677 | 5.419.192 |
| Adjustments related to provisions for employee benefits | 16 | 3.323.861 | 3.705.366 |
| Adjustments related to impairment on Loss (Reversal of Impairment | 20 | (514.316.848) | 368.663.574 |
| Loss) of Inventories | |||
| Adjustments to provision for expected credit loss | 4, 7 | 1.207.885 | 124.499 |
| Adjustment related to interest income and expenses | 19,23 | (491.899.232) | (520.219.704) |
| Adjustment related to the fair value gain | |||
| Adjustments related to fair value gain on investment properties | 11,21 | (4.854.635.393) | (1.944.663.631) |
| Adjustments Related to Tax (Income) Expense | 2.215.863.381 | -- | |
| Monetary Gain/Loss | 279.810.018 | 1.227.930.366 | |
| Changes in net working capital | 490.043.165 | (2.092.162.720) | |
| Adjustments related to increase/(decrease) in receivables | (97.946.751) | 334.415.946 | |
| Adjustments related to (increase)/ decrease in inventories | 4.607.176.021 | (2.989.945.344) | |
| Adjustments related to increase in prepaid expenses | 150.224.043 | 132.900.378 | |
| Adjustments related to increase/decrease in trade payables | (709.426.468) | 141.869.942 | |
| Adjustments related to increase in other payables from operating | (10.998.455) | (109.715.974) | |
| activities | |||
| Adjustments related to deferred income | (3.811.370.842) | 923.974.983 | |
| Adjustments related to increase/(decrease) in other working capital | 362.385.617 | (525.662.651) | |
| Cash (used in)/provided from operations | 171.615.258 | (1.022.921.859) | |
| Employment termination benefits paid | 16 | (2.068.793) | (2.497.503) |
| B. Cash Flows from Investing Activities | (89.705.540) | (348.634.529) | |
| Cash inflows from sales of tangible and intangible assets | 1.582 | 307.372 | |
| Cash outflow from acquisition of property, plant and equipment's | |||
| and intangible assets | |||
| Cash outflow from acquisition of property, plant and equipment's | 13 | (2.652.466) | (8.646.900) |
| Cash outflow from acquisition of intangible assets | 14 | (236.958) | (933.422) |
| Cash inflow arising from sales of investment property | (86.817.698) | (339.361.579) | |
| C. Cash flows from financing activities | 353.351.100 | 1.757.614.501 | |
| Cash inflows from the sale of own shares and other equity instruments | -- | 1.137.108.793 | |
| Cash outflow from borrowings | 27 | (102.135.350) | (148.724.893) |
| Interest received | 463.848.618 | 663.688.612 | |
| Interest paid | (8.362.168) | (96.700.707) | |
| Cash inflows/outflows from other financial instruments | -- | 202.242.696 | |
| Change in cash and cash equivalents (A+B+C) | 433.192.025 | 383.560.610 | |
| Inflation effect on cash and cash equivalents | (361.996.207) | (1.134.710.775) | |
| Cash and cash equivalents at the beginning of the period | 4 | 1.281.150.445 | 2.032.300.610 |
| Cash and cash equivalents at the end of the period (A+B+C+D) | 4 | 1.352.346.263 | 1.281.150.445 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.