perform vertical and horizontal analysis using the tables above

do vertical and horizontal analysis of these tables

VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise indicated) Audited Audited Footnotes 31 December 2019 31 December 2018 ASSETS CURRENT ASSETS Cash and Cash Equivalents Trade Receivables Trade Receivables Due From Related Parties Trade Receivables Due From Unrelated Parties Other Receivables Other Receivables Due From Related Parties Other Receivables Due From Unrelated Parties Derivative Financial Assets Derivative Financial Assets Held for Trading Inventories Prepayments Prepayments to Unrelated Parties Other Current Assets Other Current Assets Due Prom Unrelated Parties TOTAL CURRENT ASSETS 119328 1.748.257 1.741.171 7,086 630.205 482149 148.056 2.603 2.603 646.136 20.052 20.052 1.163 1163 120.847 1.480.213 1476.111 4.102 867.676 703.884 163.792 2.028 2028 579,054 12.623 12.623 830 830 28 9 10 18 3.167.744 3.063.271 The accompanying botes are an integral part of these financial statements. VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira ("TL"unless otherwise indicated.) Footnotes Audited Audited 31 December 2019 31 December 2018 NON-CURRENT ASSETS 11 Other Receivables Other Recevables Due From Unrelated Parties Property, Plant and Equipments Land and Premises Land Improvements Buildings Machinery and Equipments Vehicles Fixtures and Fittings Leasehold Improvements Construction in Progress Right of Use Assets Intangible Assets and Goodwill Other Rights Capitalized Development Costs Other Intangible Assets Prepayments Prepayments to Unrelated Parties TOTAL NON-CURRENT ASSETS TOTAL ASSETS 11 11 11 11 11 11 11 12 3.748 3.748 1.516.259 192.824 39.632 435.552 771.383 168 26.336 5.133 45.231 61.947 180.509 165 167.955 12389 53.595 53.595 1.435 364 192824 40.833 438.634 692549 221 27.102 5.713 37488 13 13 13 146.867 69 137.167 9.631 39.590 39.590 1.621.821 10 1.816.05 4.983.802 4.685.092 The accompanying notes are an integral part of the financial statements 3 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira (TL ) unless otherwise indicated.) Footnotes Audited Audited 31 December 2019 31 December 2018 LIABILITIES CURRENT LIABILITIES 366.515 6 733.300 6.973 6.973 726.327 714.041 12.286 13.342 5 5 366.515 365.864 651 287.078 5 Current Borrowings Current Borrowings from Related Parties Lease Liabilities Current Borrowings From Unrelated Parties Bank Loans Lease Liabilities Current Portion of Non-current Borrowings Current Portion of Non-current Borrowings from Unrelated Parties Bank Loans Trade Payables Trade Payables to Related Parties Trade Payables to Unrelated Parties Employee Benefit Obligations Other Payables Other Payables to Related Parties Derivative Financial Liabilities Derivative Financial Liabilities Held for Trading Derivative Financial Liabilities Held for Hedging Current Tax Liabilities, Current Current Provisions Other Current Provisions Other Current Liabilities Other Current Liabilities to Unrelated Parties TOTAL CURRENT LIABILITIES 6 7 17 13.342 13.342 2.069.922 132.380 1.937.542 42.926 70.291 70.291 5.264 5.264 6 287.078 287.078 1.901.077 50.250 1.850.827 31.196 130.423 130.423 20.129 19.314 815 716 3.190 3.190 6.802 6.B02 28 28 26 15 504 5.847 5.847 50.322 50.322 2.991.718 18 2.747.126 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise indicated) Audited Audited Footnotes 31 December 2019 31 December 2018 NON-CURRENT LIABILITIES 111 6 111 5 5 Long Term Borrowings Long Term Borrowings From Related Parties Lease Liabilities Long Term Borrowings From Unrelated Parties Bank Loans Lease Liabilities Trade Payables Trade Payables to Unrelated Parties Non-current Provisions Non-current Provisions for Employee Benefits Deferred Tax Liabilities TOTAL NON-CURRENT LIABILITIES 56.831 32546 32.546 24.285 10.303 13.982 6.747 6.747 57.289 57289 64.989 7 111 14.531 14.531 38.713 38.713 73.036 17 26 185.856 126.391 TOTAL LIABILITIES 3.177.574 2.873.517 The accompanying notes are an integral part of these financial statements VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise indicated.) Footnotes Audited Audited 31 December 2019 31 December 2018 EQUITY 19 1.806.228 190.000 9.734 109.031 1.811.575 190.000 9.734 109.031 19 395.981 395.981 409.958 409.958 Equity Attributable to Owners of Parent Issued Capital Inflation Adjustments on Capital Share Premium (Discount) Other Accumulated Comprehensive Income (Loss) that will not be Reclassified in Profit or Loss Gains (Losses) on Revaluation and Remeasurement Increases (Decreases) on Revaluation of Property Plant and Equipment Gains (Losses) on Remeasurements of Defined Benefit Plans Other Accumulated Comprehensive Income (Loss) that will be Reclassified in Profit or Loss Gains (Losses) on Hedge Gains (Losses) on Cash Flow Hedges Restricted Reserves Appropriated From Profits Legal Reserves Prior Years' Profits or Losses Current Period Net Profit Or Loss 410.776 417.527 (14.795) (7.569) (636) (636) (636) 118.206 118.206 352.721 622561 173.938 173.938 359.472 568.072 19 19 TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 1.806.228 1.811.575 4.983.802 4.685.092 Financial statements for the period 1 January - 31 December 2019 were approved by the Board of Directors of Vestel Beyaz Esya Sanayi ve Ticaret AS on 11 February 2020. General Assembly and specified regulatory bodies have the right to make amendments to statutory financial statements after issue The accompanying notes are an integral part of these financial statements 6 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIODS 1 JANUARY - 31 DECEMBER 2019 AND 2018 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise indicated.) Audited Audited 1 January 1 January 31 December 31 December 2019 2018 Footnotes PROFIT OR LOSS Revenue Cost of Sales 20 20 6.967.964 (6.083.290) 5.693.973 (4.781.608) GROSS PROFIT (LOSS) FROM COMMERCIAL OPERATIONS 884.674 912.365 884.674 912.365 GROSS PROFIT (LOSS) General Administrative Expenses Marketing Expenses Research and Development Expense Other Income from Operating Activities Other Expenses from Operating Activities PROFIT (LOSS) FROM OPERATING ACTIVITIES 22 22 22 23 23 (69.037) (93.392) (58.023) 314.368 (377.348) 601.242 (59.337) (79.761) (45.490) 487.908 (622.385) 593.300 PROFIT (LOSS) BEFORE FINANCING INCOME (EXPENSE) 601.242 593.300 24 24 338.823 (375.501) 607.599 (579.132) 564.564 621.767 Finance Income Finance Costs PROFIT (LOSS) FROM CONTINUING OPERATIONS, BEFORE TAX Tax (Expense) Income, Continuing Operations Current Period Tax (Expense) Income Deferred Tax (Expense) Income PROFIT (LOSS) FROM CONTINUING OPERATIONS PROFIT LOSS Earnings Per Share with a TI. 1 of Par Value 26 26 3.508 (2.913) 6.421 794 (5.512) 6.306 622.561 568.072 S68.072 6222561 27 2.99 3,28 The accompanying notes are an integral part of these financial statements VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIODS 1 JANUARY 31 DECEMBER 2019 AND 2018 (Amounts expressed in thousands of Turkish Lira ("12") unless otherwise indicated) Audited Audited 1 January 1 January 31 December 31 December 2019 2018 (7.226) 416161 502.688 (9.032) (1.707 1.806 (84820) OTHER COMPREHENSIVE INCOME Other Comprehensive income that will not be Reclassified to Trofit or loss Gains (Losses) on Revaluation of Property. Plant and Equipment Gains (Losses) on Remeasurements of 25 Defined Benefit Plans Taxes Relating to components of Other Comprehensive Income 25 that will not be Reclassified to Protetor Loss Taxes Relating to Gains Losses) on Revaluation of Property, Plant and Equipment Taxes Relating to Remeasurements of Defined Benefit Plans Other Comprehensive Income that will be Reclassified to Profit or Loss Other Comprehensive Income (Loss) 25 Related with Cash Flow Hedges Gains (Los) Cash Flow Hedger Taxes Relating to Components of Other Comprehensive Income Taxes Baltinte Cash Flow ledges 25 OTHER COMPREHENSIVE INCOME LOSS TOTAL COMPREHENSIVE INCOME LOSS (85.7613 1.806 341 636 716 816 16 918 910 (202) (202) (180) (180) (6.590) 361482 616272 1039/38 The accepting notes are a graparthesencial VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise indicated.) Audited 31 December 2020 Audited 31 December 2019 Footnotes ASSETS CURRENT ASSETS 4 6,7 7 Cash and Cash Equivalents Trade Receivables Trade Receivables Due From Related Parties Trade Receivables Due From Third Parties Other Receivables Other Receivables Due From Related Parties Other Receivables Due From Third Parties Derivative Financial Instruments Derivative Financial Instruments Held for Trading Derivative Financial Instruments Held for Hedging Inventories Prepayments Prepayments to Third Parties Other Current Assets Other Current Assets Due From Third Parties TOTAL CURRENT ASSETS 6,8 216.011 3.285.995 3.280.987 5.008 1.086.150 855.935 230.215 18.830 18.543 287 952.552 53.422 53.422 3.812 3.812 119.328 1.748.257 1.741.171 7.086 630.205 482.149 148.056 2.603 2.603 28 28 10 646.136 20.052 20.052 1.163 1.163 18 5.616.772 3.167.744 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira (TL") unless otherwise indicated) Audited 31 December 2020 Footnotes Audited 31 December 2019 NON-CURRENT ASSETS Other Receivables Other Recevables Due From Third Parties Property, Plant and Equipments Land and Premises Land Improvements Buildings Machinery and Equipment Vehicles Fixtures and Fittings Leasehold Improvements Construction in Progress Right of Use Assets Intangible Assets and Goodwill Other Rights Capitalized Development Costs Other Intangible Assets Prepayments Prepayments to Third Parties TOTAL NON-CURRENT ASSETS 11 11 11 11 11 11 11 11 12 3.748 3.748 1.516.259 192824 39.632 435.552 771.383 168 26.336 4.500 4.500 2.190.304 503.898 49.957 543.223 919.610 366 36.413 4.688 32.149 148.920 216.439 180 202.424 13.835 53.056 52056 2613.219 5133 13 13 45.231 61.947 180.509 165 167.955 12.399 53595 53.595 10 1.816,058 TOTAL ASSETS 8.229.991 4.983.802 The accompanying notes are an integral part of these financial statements 3 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise indicated) Footnotes Audited 31 December 2020 Audited 31 December 2019 LIABILITIES CURRENT LIABILITIES 5,6 998.969 16.181 16.181 982.788 960.540 22.248 234.294 733.300 6.973 6.973 726.327 714.041 12.286 13.342 5 5 5 Current Borrowings Current Borrowings from Related Parties Lease Liabilities Current Borrowings From Third Parties Bank Loans Lease Liabilities Current Portion of Non-current Borrowings Current Portion of Non-current Borrowings from Third Parties Bank Loans Trade Payables Trade Payables to Related Parties Trade Payables to Third Parties Employee Benefit Obligations Other Payables Other Payables to Related Parties Derivative Financial Liabilities Derivative Financial Liabilities Held for Trading Derivative Financial Liabilities Held for Hedging Current Tax Liabilities, Current Current Provisions Other Current Provisions Other Current Liabilities Other Current Liabilities to Third Parties TOTAL CURRENT LIABILITIES 6,7 7 17 234.294 234.294 2.874.941 188.142 2.686.799 54.166 206.285 206.285 48.839 11.743 37.096 2.432 9.674 9.674 29.075 29.075 13.342 13.342 2.069.922 132.380 1.937.542 42.926 70.291 70.291 5.264 5.264 6 28 28 26 15 504 5.847 5.847 50.322 50.322 18 4.458.675 2.991.718 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise indicated.) Audited Footnotes 31 December 2020 Audited 31 December 2019 NON-CURRENT LIABILITIES 5,6 5 5 Long Term Borrowings Long Term Borrowings From Related Parties Lease Liabilities Long Term Borrowings From Third Parties Bank Loans Lease Liabilities Trade Payables Trade Payables to Third Parties Non-current Provisions Non-current Provisions for Employee Benefits Deferred Tax Liabilities TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES 207.731 109.058 109.058 98.673 88.566 10.107 61.787 61787 85.734 85.734 54.299 56,831 32546 32.546 24.285 10.303 13.982 6.747 6.747 57.289 57.289 64.989 7 17 26 409.551 185.856 4.868 226 3.177.574 The accompanying notes are an integral part of these financial statements. VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira (T1.7 unless otherwise indicated) Audited 31 December 2020 Footnotes Audited 31 December 2019 19 19 19 3.361.765 190.000 9.734 109.031 1.806.228 190.000 9.734 109.031 771.673 771.673 395981 395.981 EQUITY Equity Attributable to Owners of the Company Issued Capital Inflation Adjustments on Capital Share Premium (Discount) Other Accumulated Comprehensive Income (Loss) that will not be Reclassified in Profit or Loss Gains (Losses) on Revaluation and Remeasurement Increases (Decreases) on Revaluation of Property Plant and Equipment Gains (Losses) on Remeasurements of Defined Benefit Plans Other Accumulated Comprehensive Income (Loss) that will be Reclassified in Profit or Loss Gains (Losses) on Hedge Gains (Losses) on Cash Flow Hedges Restricted Reserves Appropriated From Profits Legal Reserves Prior Years' Profits or Losses Current Period Net Profit Or Loss 800.187 410.776 [28514) (14.795) (29.447) (29.447) (29.447) 187190 187.190 792 276 1331.300 19 19 173.938 171938 359.472 568.072 TOTAL EQUITY 3361.765 1.806228 TOTAL LIABILITIES AND EQUITY 8.229.991 4.983.BOZ Financial statements for the period 1 January - 31 December 2020 were approved by the Board of Directors of Vestel Beyaz Esya Sanayi ve Ticaret A.. on 15 February 2021. General Assembly and specified regulatory bodies have the right to make amendments to statutory financial statements after issue The accompanying notes are an integral part of these financial statement VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIODS 1 JANUARY - 31 DECEMBER 2020 AND 2019 (Amounts expressed in thousands of Turkish Lira ("TL" unless otherwise indicated) Audited 1 January 31 December 2020 Audited 1 January - 31 December 2019 Footnotes PROFIT OR LOSS 20 20 9.409.285 (7.602_834) 6.967.964 (6.083.290) 1.806.451 884674 1.806.451 884674 22 22 22 23 23 (81.028) (118.022) (78.866) 523.030 (547.368) {69.037) (93.392) (58.023) 314368 (377 348) 1.504.197 Revenge Cost of Sales GROSS PROFIT (LOSS) FROM COMMERCIAL OPERATIONS GROSS PROFIT (LOSS) General Administrative Expenses Marketing Expenses Research and Development Expense Other Income from Operating Activities Other Expenses from Operating Activities PROFIT (LOSS) FROM OPERATING ACTIVITIES PROFIT (LOSS) BEFORE FINANCING INCOME (EXPENSE) Finance Income Finance Costs PROFIT (LOSS) FROM CONTINUI OPERATIONS, BEFORE TAX Tax (Expense) Income. Continuing Current Period Tax (Expense) Income Deferred Tax (Expense) Income PROFIT (LOSS) FROM CONTINUING OPERATIONS PROFIT LOSS Earnings Per Share with a TL 1 of Par Value 601.242 1.504.197 601.242 24 24 476221 (648.486) 338.823 (375501) 1.331.932 564564 26 26 (624) (5.771) 5.147 33503 (2913) 6.421 1.331.308 568 072 566.072 1331308 27 7,01 The accompanying notes are an integral part of these incal MacBook Dr. 7 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIODS 1 JANUARY 31 DECEMBER 2020 AND 2019 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise indicated.) Audited 1 January - 31 December 2020 Audited 1 January 31 December 2019 Footnotes OTHER COMPREHENSIVE INCOME 382.442 (7.226) 401.410 (17.149) (9.032) (1.819) 1.806 Other Comprehensive Income that will not 25 be Reclassified to profit or Loss Gains (Losses) on Revaluation of Property, Plant Gains (Losses) on Remeasurements of Defined Benefit Plans Taxes Relating to Components of Other Comprehensive Income that will not be Reclassified to profit or Loss Taxes Relating to Gains (Losses) on Revaluation of Property, Plant and Equipment Taxes Relating to Remeasurements of Defined Benefit Plans Other Comprehensive Income that will be Reclassified to profit or Loss Other Comprehensive Income (Loss) Related with Cash Flow Hedges Gains (Losses) on Cash Flow Hedges Taxes Relating to Components of Other Comprehensive Income Taxes Relating to Cash Flow Hedges OTHER COMPREHENSIVE INCOME (LOSS) TOTAL COMPREHENSIVE INCOME (LOSS (5.249) 3.430 1.306 (29.447) 636 (36,809) (36.809) 816 816 7.362 7.362 352.995 (180) (180) (6.590) 561.482 1.684.303 The accompanying notes are an integral part of these financial statements VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise indicated) Audited Audited Footnotes 31 December 2019 31 December 2018 ASSETS CURRENT ASSETS Cash and Cash Equivalents Trade Receivables Trade Receivables Due From Related Parties Trade Receivables Due From Unrelated Parties Other Receivables Other Receivables Due From Related Parties Other Receivables Due From Unrelated Parties Derivative Financial Assets Derivative Financial Assets Held for Trading Inventories Prepayments Prepayments to Unrelated Parties Other Current Assets Other Current Assets Due Prom Unrelated Parties TOTAL CURRENT ASSETS 119328 1.748.257 1.741.171 7,086 630.205 482149 148.056 2.603 2.603 646.136 20.052 20.052 1.163 1163 120.847 1.480.213 1476.111 4.102 867.676 703.884 163.792 2.028 2028 579,054 12.623 12.623 830 830 28 9 10 18 3.167.744 3.063.271 The accompanying botes are an integral part of these financial statements. VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira ("TL"unless otherwise indicated.) Footnotes Audited Audited 31 December 2019 31 December 2018 NON-CURRENT ASSETS 11 Other Receivables Other Recevables Due From Unrelated Parties Property, Plant and Equipments Land and Premises Land Improvements Buildings Machinery and Equipments Vehicles Fixtures and Fittings Leasehold Improvements Construction in Progress Right of Use Assets Intangible Assets and Goodwill Other Rights Capitalized Development Costs Other Intangible Assets Prepayments Prepayments to Unrelated Parties TOTAL NON-CURRENT ASSETS TOTAL ASSETS 11 11 11 11 11 11 11 12 3.748 3.748 1.516.259 192.824 39.632 435.552 771.383 168 26.336 5.133 45.231 61.947 180.509 165 167.955 12389 53.595 53.595 1.435 364 192824 40.833 438.634 692549 221 27.102 5.713 37488 13 13 13 146.867 69 137.167 9.631 39.590 39.590 1.621.821 10 1.816.05 4.983.802 4.685.092 The accompanying notes are an integral part of the financial statements 3 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira (TL ) unless otherwise indicated.) Footnotes Audited Audited 31 December 2019 31 December 2018 LIABILITIES CURRENT LIABILITIES 366.515 6 733.300 6.973 6.973 726.327 714.041 12.286 13.342 5 5 366.515 365.864 651 287.078 5 Current Borrowings Current Borrowings from Related Parties Lease Liabilities Current Borrowings From Unrelated Parties Bank Loans Lease Liabilities Current Portion of Non-current Borrowings Current Portion of Non-current Borrowings from Unrelated Parties Bank Loans Trade Payables Trade Payables to Related Parties Trade Payables to Unrelated Parties Employee Benefit Obligations Other Payables Other Payables to Related Parties Derivative Financial Liabilities Derivative Financial Liabilities Held for Trading Derivative Financial Liabilities Held for Hedging Current Tax Liabilities, Current Current Provisions Other Current Provisions Other Current Liabilities Other Current Liabilities to Unrelated Parties TOTAL CURRENT LIABILITIES 6 7 17 13.342 13.342 2.069.922 132.380 1.937.542 42.926 70.291 70.291 5.264 5.264 6 287.078 287.078 1.901.077 50.250 1.850.827 31.196 130.423 130.423 20.129 19.314 815 716 3.190 3.190 6.802 6.B02 28 28 26 15 504 5.847 5.847 50.322 50.322 2.991.718 18 2.747.126 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise indicated) Audited Audited Footnotes 31 December 2019 31 December 2018 NON-CURRENT LIABILITIES 111 6 111 5 5 Long Term Borrowings Long Term Borrowings From Related Parties Lease Liabilities Long Term Borrowings From Unrelated Parties Bank Loans Lease Liabilities Trade Payables Trade Payables to Unrelated Parties Non-current Provisions Non-current Provisions for Employee Benefits Deferred Tax Liabilities TOTAL NON-CURRENT LIABILITIES 56.831 32546 32.546 24.285 10.303 13.982 6.747 6.747 57.289 57289 64.989 7 111 14.531 14.531 38.713 38.713 73.036 17 26 185.856 126.391 TOTAL LIABILITIES 3.177.574 2.873.517 The accompanying notes are an integral part of these financial statements VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET BALANCE SHEETS AS OF 31 DECEMBER 2019 AND 31 DECEMBER 2018 (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise indicated.) Footnotes Audited Audited 31 December 2019 31 December 2018 EQUITY 19 1.806.228 190.000 9.734 109.031 1.811.575 190.000 9.734 109.031 19 395.981 395.981 409.958 409.958 Equity Attributable to Owners of Parent Issued Capital Inflation Adjustments on Capital Share Premium (Discount) Other Accumulated Comprehensive Income (Loss) that will not be Reclassified in Profit or Loss Gains (Losses) on Revaluation and Remeasurement Increases (Decreases) on Revaluation of Property Plant and Equipment Gains (Losses) on Remeasurements of Defined Benefit Plans Other Accumulated Comprehensive Income (Loss) that will be Reclassified in Profit or Loss Gains (Losses) on Hedge Gains (Losses) on Cash Flow Hedges Restricted Reserves Appropriated From Profits Legal Reserves Prior Years' Profits or Losses Current Period Net Profit Or Loss 410.776 417.527 (14.795) (7.569) (636) (636) (636) 118.206 118.206 352.721 622561 173.938 173.938 359.472 568.072 19 19 TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 1.806.228 1.811.575 4.983.802 4.685.092 Financial statements for the period 1 January - 31 December 2019 were approved by the Board of Directors of Vestel Beyaz Esya Sanayi ve Ticaret AS on 11 February 2020. General Assembly and specified regulatory bodies have the right to make amendments to statutory financial statements after issue The accompanying notes are an integral part of these financial statements 6 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIODS 1 JANUARY - 31 DECEMBER 2019 AND 2018 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise indicated.) Audited Audited 1 January 1 January 31 December 31 December 2019 2018 Footnotes PROFIT OR LOSS Revenue Cost of Sales 20 20 6.967.964 (6.083.290) 5.693.973 (4.781.608) GROSS PROFIT (LOSS) FROM COMMERCIAL OPERATIONS 884.674 912.365 884.674 912.365 GROSS PROFIT (LOSS) General Administrative Expenses Marketing Expenses Research and Development Expense Other Income from Operating Activities Other Expenses from Operating Activities PROFIT (LOSS) FROM OPERATING ACTIVITIES 22 22 22 23 23 (69.037) (93.392) (58.023) 314.368 (377.348) 601.242 (59.337) (79.761) (45.490) 487.908 (622.385) 593.300 PROFIT (LOSS) BEFORE FINANCING INCOME (EXPENSE) 601.242 593.300 24 24 338.823 (375.501) 607.599 (579.132) 564.564 621.767 Finance Income Finance Costs PROFIT (LOSS) FROM CONTINUING OPERATIONS, BEFORE TAX Tax (Expense) Income, Continuing Operations Current Period Tax (Expense) Income Deferred Tax (Expense) Income PROFIT (LOSS) FROM CONTINUING OPERATIONS PROFIT LOSS Earnings Per Share with a TI. 1 of Par Value 26 26 3.508 (2.913) 6.421 794 (5.512) 6.306 622.561 568.072 S68.072 6222561 27 2.99 3,28 The accompanying notes are an integral part of these financial statements VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIODS 1 JANUARY 31 DECEMBER 2019 AND 2018 (Amounts expressed in thousands of Turkish Lira ("12") unless otherwise indicated) Audited Audited 1 January 1 January 31 December 31 December 2019 2018 (7.226) 416161 502.688 (9.032) (1.707 1.806 (84820) OTHER COMPREHENSIVE INCOME Other Comprehensive income that will not be Reclassified to Trofit or loss Gains (Losses) on Revaluation of Property. Plant and Equipment Gains (Losses) on Remeasurements of 25 Defined Benefit Plans Taxes Relating to components of Other Comprehensive Income 25 that will not be Reclassified to Protetor Loss Taxes Relating to Gains Losses) on Revaluation of Property, Plant and Equipment Taxes Relating to Remeasurements of Defined Benefit Plans Other Comprehensive Income that will be Reclassified to Profit or Loss Other Comprehensive Income (Loss) 25 Related with Cash Flow Hedges Gains (Los) Cash Flow Hedger Taxes Relating to Components of Other Comprehensive Income Taxes Baltinte Cash Flow ledges 25 OTHER COMPREHENSIVE INCOME LOSS TOTAL COMPREHENSIVE INCOME LOSS (85.7613 1.806 341 636 716 816 16 918 910 (202) (202) (180) (180) (6.590) 361482 616272 1039/38 The accepting notes are a graparthesencial VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise indicated.) Audited 31 December 2020 Audited 31 December 2019 Footnotes ASSETS CURRENT ASSETS 4 6,7 7 Cash and Cash Equivalents Trade Receivables Trade Receivables Due From Related Parties Trade Receivables Due From Third Parties Other Receivables Other Receivables Due From Related Parties Other Receivables Due From Third Parties Derivative Financial Instruments Derivative Financial Instruments Held for Trading Derivative Financial Instruments Held for Hedging Inventories Prepayments Prepayments to Third Parties Other Current Assets Other Current Assets Due From Third Parties TOTAL CURRENT ASSETS 6,8 216.011 3.285.995 3.280.987 5.008 1.086.150 855.935 230.215 18.830 18.543 287 952.552 53.422 53.422 3.812 3.812 119.328 1.748.257 1.741.171 7.086 630.205 482.149 148.056 2.603 2.603 28 28 10 646.136 20.052 20.052 1.163 1.163 18 5.616.772 3.167.744 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira (TL") unless otherwise indicated) Audited 31 December 2020 Footnotes Audited 31 December 2019 NON-CURRENT ASSETS Other Receivables Other Recevables Due From Third Parties Property, Plant and Equipments Land and Premises Land Improvements Buildings Machinery and Equipment Vehicles Fixtures and Fittings Leasehold Improvements Construction in Progress Right of Use Assets Intangible Assets and Goodwill Other Rights Capitalized Development Costs Other Intangible Assets Prepayments Prepayments to Third Parties TOTAL NON-CURRENT ASSETS 11 11 11 11 11 11 11 11 12 3.748 3.748 1.516.259 192824 39.632 435.552 771.383 168 26.336 4.500 4.500 2.190.304 503.898 49.957 543.223 919.610 366 36.413 4.688 32.149 148.920 216.439 180 202.424 13.835 53.056 52056 2613.219 5133 13 13 45.231 61.947 180.509 165 167.955 12.399 53595 53.595 10 1.816,058 TOTAL ASSETS 8.229.991 4.983.802 The accompanying notes are an integral part of these financial statements 3 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise indicated) Footnotes Audited 31 December 2020 Audited 31 December 2019 LIABILITIES CURRENT LIABILITIES 5,6 998.969 16.181 16.181 982.788 960.540 22.248 234.294 733.300 6.973 6.973 726.327 714.041 12.286 13.342 5 5 5 Current Borrowings Current Borrowings from Related Parties Lease Liabilities Current Borrowings From Third Parties Bank Loans Lease Liabilities Current Portion of Non-current Borrowings Current Portion of Non-current Borrowings from Third Parties Bank Loans Trade Payables Trade Payables to Related Parties Trade Payables to Third Parties Employee Benefit Obligations Other Payables Other Payables to Related Parties Derivative Financial Liabilities Derivative Financial Liabilities Held for Trading Derivative Financial Liabilities Held for Hedging Current Tax Liabilities, Current Current Provisions Other Current Provisions Other Current Liabilities Other Current Liabilities to Third Parties TOTAL CURRENT LIABILITIES 6,7 7 17 234.294 234.294 2.874.941 188.142 2.686.799 54.166 206.285 206.285 48.839 11.743 37.096 2.432 9.674 9.674 29.075 29.075 13.342 13.342 2.069.922 132.380 1.937.542 42.926 70.291 70.291 5.264 5.264 6 28 28 26 15 504 5.847 5.847 50.322 50.322 18 4.458.675 2.991.718 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise indicated.) Audited Footnotes 31 December 2020 Audited 31 December 2019 NON-CURRENT LIABILITIES 5,6 5 5 Long Term Borrowings Long Term Borrowings From Related Parties Lease Liabilities Long Term Borrowings From Third Parties Bank Loans Lease Liabilities Trade Payables Trade Payables to Third Parties Non-current Provisions Non-current Provisions for Employee Benefits Deferred Tax Liabilities TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES 207.731 109.058 109.058 98.673 88.566 10.107 61.787 61787 85.734 85.734 54.299 56,831 32546 32.546 24.285 10.303 13.982 6.747 6.747 57.289 57.289 64.989 7 17 26 409.551 185.856 4.868 226 3.177.574 The accompanying notes are an integral part of these financial statements. VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) AS OF 31 DECEMBER 2020 AND 31 DECEMBER 2019 (Amounts expressed in thousands of Turkish Lira (T1.7 unless otherwise indicated) Audited 31 December 2020 Footnotes Audited 31 December 2019 19 19 19 3.361.765 190.000 9.734 109.031 1.806.228 190.000 9.734 109.031 771.673 771.673 395981 395.981 EQUITY Equity Attributable to Owners of the Company Issued Capital Inflation Adjustments on Capital Share Premium (Discount) Other Accumulated Comprehensive Income (Loss) that will not be Reclassified in Profit or Loss Gains (Losses) on Revaluation and Remeasurement Increases (Decreases) on Revaluation of Property Plant and Equipment Gains (Losses) on Remeasurements of Defined Benefit Plans Other Accumulated Comprehensive Income (Loss) that will be Reclassified in Profit or Loss Gains (Losses) on Hedge Gains (Losses) on Cash Flow Hedges Restricted Reserves Appropriated From Profits Legal Reserves Prior Years' Profits or Losses Current Period Net Profit Or Loss 800.187 410.776 [28514) (14.795) (29.447) (29.447) (29.447) 187190 187.190 792 276 1331.300 19 19 173.938 171938 359.472 568.072 TOTAL EQUITY 3361.765 1.806228 TOTAL LIABILITIES AND EQUITY 8.229.991 4.983.BOZ Financial statements for the period 1 January - 31 December 2020 were approved by the Board of Directors of Vestel Beyaz Esya Sanayi ve Ticaret A.. on 15 February 2021. General Assembly and specified regulatory bodies have the right to make amendments to statutory financial statements after issue The accompanying notes are an integral part of these financial statement VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIODS 1 JANUARY - 31 DECEMBER 2020 AND 2019 (Amounts expressed in thousands of Turkish Lira ("TL" unless otherwise indicated) Audited 1 January 31 December 2020 Audited 1 January - 31 December 2019 Footnotes PROFIT OR LOSS 20 20 9.409.285 (7.602_834) 6.967.964 (6.083.290) 1.806.451 884674 1.806.451 884674 22 22 22 23 23 (81.028) (118.022) (78.866) 523.030 (547.368) {69.037) (93.392) (58.023) 314368 (377 348) 1.504.197 Revenge Cost of Sales GROSS PROFIT (LOSS) FROM COMMERCIAL OPERATIONS GROSS PROFIT (LOSS) General Administrative Expenses Marketing Expenses Research and Development Expense Other Income from Operating Activities Other Expenses from Operating Activities PROFIT (LOSS) FROM OPERATING ACTIVITIES PROFIT (LOSS) BEFORE FINANCING INCOME (EXPENSE) Finance Income Finance Costs PROFIT (LOSS) FROM CONTINUI OPERATIONS, BEFORE TAX Tax (Expense) Income. Continuing Current Period Tax (Expense) Income Deferred Tax (Expense) Income PROFIT (LOSS) FROM CONTINUING OPERATIONS PROFIT LOSS Earnings Per Share with a TL 1 of Par Value 601.242 1.504.197 601.242 24 24 476221 (648.486) 338.823 (375501) 1.331.932 564564 26 26 (624) (5.771) 5.147 33503 (2913) 6.421 1.331.308 568 072 566.072 1331308 27 7,01 The accompanying notes are an integral part of these incal MacBook Dr. 7 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKET STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIODS 1 JANUARY 31 DECEMBER 2020 AND 2019 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise indicated.) Audited 1 January - 31 December 2020 Audited 1 January 31 December 2019 Footnotes OTHER COMPREHENSIVE INCOME 382.442 (7.226) 401.410 (17.149) (9.032) (1.819) 1.806 Other Comprehensive Income that will not 25 be Reclassified to profit or Loss Gains (Losses) on Revaluation of Property, Plant Gains (Losses) on Remeasurements of Defined Benefit Plans Taxes Relating to Components of Other Comprehensive Income that will not be Reclassified to profit or Loss Taxes Relating to Gains (Losses) on Revaluation of Property, Plant and Equipment Taxes Relating to Remeasurements of Defined Benefit Plans Other Comprehensive Income that will be Reclassified to profit or Loss Other Comprehensive Income (Loss) Related with Cash Flow Hedges Gains (Losses) on Cash Flow Hedges Taxes Relating to Components of Other Comprehensive Income Taxes Relating to Cash Flow Hedges OTHER COMPREHENSIVE INCOME (LOSS) TOTAL COMPREHENSIVE INCOME (LOSS (5.249) 3.430 1.306 (29.447) 636 (36,809) (36.809) 816 816 7.362 7.362 352.995 (180) (180) (6.590) 561.482 1.684.303 The accompanying notes are an integral part of these financial statements