(CONVENIENCE TRANSLATION OF THE INDEPENDENT AUDITORS' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)
ARÇELİK ANONİM ŞİRKETİ
JANUARY 1 - DECEMBER 31, 2021 CONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITOR'S REPORT
Sensitivity: Public
CONTENTS | PAGES |
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION........................................ | 1-3 |
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS ................................................. | 4 |
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME .............. | 5 |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY ..... | 6 |
CONSOLIDATED STATEMENTS OF CASH FLOWS ........................................................ | 7 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS .................................... | 8-81 |
NOTE 1 - GROUP'S ORGANISATION AND NATURE OF OPERATIONS ..................................................... | 8 |
NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS ....................... | 10 |
NOTE 3 - BUSINESS COMBINATION.............................................................................................................. | 30 |
NOTE 4 - SEGMENT REPORTING ................................................................................................................... | 32 |
NOTE 5 - CASH AND CASH EQUIVALENTS ................................................................................................. | 33 |
NOTE 6 - FINANCIAL INVESTMENTS............................................................................................................ | 34 |
NOTE 7 - BORROWINGS ................................................................................................................................... | 35 |
NOTE 8 - DERIVATIVE INSTRUMENTS......................................................................................................... | 39 |
NOTE 9 - TRADE RECEIVABLES AND PAYABLES ..................................................................................... | 40 |
NOTE 10 - OTHER PAYABLES......................................................................................................................... | 41 |
NOTE 11 - INVENTORIES ................................................................................................................................. | 41 |
NOTE 12 - INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD ...................................... | 42 |
NOTE 13 - PROPERTY, PLANT AND EQUIPMENT ....................................................................................... | 43 |
NOTE 14 - OTHER INTANGIBLE ASSETS ...................................................................................................... | 46 |
NOTE 15 - GOODWILL ...................................................................................................................................... | 48 |
NOTE 16 - GOVERNMENT GRANTS ............................................................................................................... | 50 |
NOTE 17 - COMMITMENTS, CONTINGENT ASSETS AND LIABILITIES.................................................. | 51 |
NOTE 18 - OTHER PROVISIONS ...................................................................................................................... | 52 |
NOTE 19 - LONG TERM PROVISION FOR EMPLOYEE BENEFITS ............................................................ | 53 |
NOTE 20 - PREPAID EXPENSES ...................................................................................................................... | 54 |
NOTE 21 - CURRENT INCOME TAX ASSETS ................................................................................................ | 55 |
NOTE 22 - EMPLOYEE BENEFIT OBLIGATIONS ......................................................................................... | 55 |
NOTE 23 - OTHER ASSETS AND LIABILITIES.............................................................................................. | 55 |
NOTE 24 - EQUITY............................................................................................................................................. | 56 |
NOTE 25 - SALES ............................................................................................................................................... | 58 |
NOTE 26 - EXPENSES BY NATURE ................................................................................................................ | 59 |
NOTE 27 - OTHER INCOME AND EXPENSES FROM OPERATING ACTIVITIES ..................................... | 60 |
NOTE 28 - INCOME AND EXPENSES FROM INVESTMENT ACTIVITIES ................................................ | 61 |
NOTE 29 - FINANCIAL INCOME...................................................................................................................... | 61 |
NOTE 30 - FINANCIAL EXPENSES.................................................................................................................. | 61 |
NOTE 31 - TAX ASSETS AND LIABILITIES................................................................................................... | 62 |
NOTE 32 - EARNINGS PER SHARE ................................................................................................................. | 64 |
NOTE 33 - RELATED PARTY DISCLOSURES ................................................................................................ | 65 |
NOTE 34 - FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT .................................. | 67 |
NOTE 35 - FINANCIAL INSTRUMENTS ......................................................................................................... | 79 |
NOTE 36 - SUPPLEMENTARY CASH FLOW INFORMATION ..................................................................... | 81 |
NOTE 37 - EVENTS AFTER BALANCE SHEET DATE .................................................................................. | 81 |
Sensitivity: Public
(CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)
ARÇELİK ANONİM ŞİRKETİ
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2021
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated.)
Audited | |||
December 31, | December 31, | ||
Notes | 2021 | 2020 | |
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | 5 | 16,014,589 | 12,002,246 |
Trade receivables | |||
-Due from related parties | 33 | 269,306 | 103,153 |
-Trade receivables, third parties | 9 | 23,142,238 | 12,046,292 |
Derivative instruments | 8 | 16,094 | 27,354 |
Inventories | 11 | 16,828,699 | 7,095,622 |
Prepaid expenses | 20 | 648,799 | 496,783 |
Current income tax assets | 21 | 415,431 | 143,032 |
Other current assets | 23 | 2,259,652 | 1,146,367 |
Total current assets | 59,594,808 | 33,060,849 | |
Non-current assets: | |||
Financial investments | 6 | 10,531 | 5,614 |
Trade receivables | |||
-Trade receivables, third parties | 9 | 45,865 | 68,225 |
Derivative instruments | 8 | 19,157 | - |
Investments accounted for using the equity method | 12 | 855,409 | 648,016 |
Property, plant and equipment | 13 | 13,125,336 | 7,296,568 |
Intangible assets | |||
-Goodwill | 15 | 2,844,448 | 989,060 |
-Other intangible assets | 14 | 6,573,315 | 3,563,944 |
Prepaid expenses | 20 | 186,057 | 83,484 |
Deferred tax assets | 31 | 1,823,680 | 833,284 |
Total non-current assets | 25,483,798 | 13,488,195 | |
Total assets | 85,078,606 | 46,549,044 |
The accompanying notes form an integral part of these consolidated financial statements.
1
Sensitivity: Public
(CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)
ARÇELİK ANONİM ŞİRKETİ
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2021
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated.)
Audited | |||
December 31, | December 31, | ||
Notes | 2021 | 2020 | |
LIABILITIES | |||
Current liabilities: | |||
Short-term borrowings | 7 | 10,584,261 | 4,840,622 |
Short-term portion of long-term borrowings | 7 | 2,459,839 | 5,390,255 |
Trade payables | |||
-Due to related parties | 33 | 1,592,704 | 995,829 |
-Trade payables, third parties | 9 | 18,076,327 | 8,649,373 |
Derivative instruments | 8 | 245,292 | 8,266 |
Employee benefit obligations | 22 | 775,090 | 492,554 |
Other payables | |||
-Other payables, third parties | 10 | 1,245,608 | 726,074 |
Current income tax liabilities | 31 | 55,292 | 7,736 |
Provisions | |||
-Other provisions | 18 | 2,087,963 | 977,478 |
Other current liabilities | 23 | 3,379,248 | 1,738,729 |
Total current liabilities | 40,501,624 | 23,826,916 | |
Non-current liabilities: | |||
Long-term borrowings | 7 | 19,535,399 | 6,844,348 |
Provisions | |||
-Provision for employee benefits | 19 | 935,609 | 419,517 |
-Other provisions | 18 | 439,072 | 289,640 |
Deferred tax liabilities | 31 | 1,528,994 | 563,071 |
Other non-current liabilities | 23 | 1,082,693 | 581,706 |
Total non-current liabilities | 23,521,767 | 8,698,282 | |
Total liabilities | 64,023,391 | 32,525,198 |
The accompanying notes form an integral part of these consolidated financial statements.
2
Sensitivity: Public
(CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)
ARÇELİK ANONİM ŞİRKETİ
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2021
(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated.)
Audited | |||
December 31, | December 31, | ||
Notes | 2021 | 2020 | |
EQUITY | |||
Paid-in capital | 24 | 675,728 | 675,728 |
Adjustment to share capital | 24 | 468,811 | 468,811 |
Treasury shares | 24 | (1,215,266) | - |
Share premium/discount | 889 | 889 | |
Other accumulated comprehensive income and | |||
expense not to be reclassified to profit or loss | |||
Gains/ losses on revaluation and remeasurement | |||
-Gain/loss arising from defined | |||
benefit plans | (396,514) | (298,280) | |
-Revaluation/ remeasurement of intangible | |||
assets | 6,900 | - | |
-Other gains/ losses on revaluation and | |||
remeasurement | 6,109 | 4,918 | |
Other accumulated comprehensive income and | |||
expense to be reclassified to profit or loss | |||
-Currency translation differences | 11,381,483 | 5,225,745 | |
Gains/ losses on hedge | |||
-Gains/ losses on hedges of net investment | |||
in foreign operations | (1,835,770) | (966,053) | |
-Gains/ losses on cash flow hedges | 15,080 | (3,072) | |
Gains/ losses on revaluation and reclassification | |||
Balancing account for merger capital | 14,507 | 14,507 | |
Restricted reserves | 24 | 1,771,002 | 409,115 |
Retained earnings | 5,425,850 | 5,439,898 | |
Net income for the period | 3,064,674 | 2,847,839 | |
Equity holders of the parent | 19,383,483 | 13,820,045 | |
Non-controlling interest | 1,671,732 | 203,801 | |
Total equity | 21,055,215 | 14,023,846 | |
Total liabilities and equity | 85,078,606 | 46,549,044 | |
Commitments, contingent assets and liabilities | 17 |
The accompanying notes form an integral part of these consolidated financial statements.
3
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Arcelik AS published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 16:06:08 UTC.