perform vertical, horizontal, ratio analysis of these tables please

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 6 7 6 8 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 From Unrelated Parties TOTAL CURRENT ASSETS 119.328 1.748.257 1.741.171 7086 630205 482.149 148.056 2603 2.603 646.136 20.052 20.052 1163 1163 120.847 1.480.213 1476.111 4.102 867.676 703 884 163.792 2028 2.028 579.054 12623 12623 B30 830 28 9 10 18 3.167.744 3.063.271 The accompanying notes are an integral part of these financial state 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 (172) unless otherwise indicated) Audited Audited Footnotes 11 December 2019 31 December 2018 3.748 2740 1516259 192.824 39.632 435552 771383 1.435.364 192324 40.833 438634 692.549 11 11 11 11 11 11 11 11 12 150 NON-CURRENT ASSETS Other Heceler Other Recevables Due From Unrelated Parties Property. Plant and Equipments Land and Premises Land improvements Buildings Machinery and Viquipments Vehicles Pixtures and Pring Leasehold Improvements Construction in Progress Right of Use Assets Intangible Amets and Goodwill Other Bucht Capitalized Development Costs Other intangble Assets Prepayments Payments to United Parties TOTAL NON CURRENT ASSETS TOTAL ASSETS 221 27.102 5.713 37.488 26.136 5130 45.231 6147 10 500 16 167955 1239 59 53305 13 13 13 146.367 69 137.167 9.631 39.590 39.50 LZLX21 10 1316 4.98302 4.685.092 The paying part of 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.) Audited Audited Footnotes 31 December 2019 31 December 2018 LIABILITIES CURRENT LIABILITIES 366.515 6 733,300 6.973 6.973 726327 714.041 12.286 13.342 5 5 366.515 365.864 651 287.078 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 abilities Other Current Liabilities to Unrelated Parties TOTAL CURRENT LIABILITIES 6 7 17 13.342 13.342 2.069.922 132380 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 6.802 28 28 26 15 504 5.847 5.847 50.322 50.322 18 2.991.718 2.747.126 The accompanying notes are an integral part of these financial statements 4 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 ("T1) unless otherwise indicated) Audited Audited Footnotes 31 December 2019 31 December 2018 NON-CURRENT LIABILITIES 111 111 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-carrent Provisions Non-current Provisions for Employee Benefits Deferred Tax Liabilities TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES 56,831 32546 32546 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 3.177.574 2.873.517 The accompanying notes are an integral part of these fancial statements VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKETI 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 19 19 19 833 1.806,228 190.000 9.734 109.031 1.811.575 190.00 9.734 109.031 395.981 395.981 409.958 409.958 EQUITY 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 (Los) 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 Lost 410.776 417.527 (14.795) (7.569) (636) (636) (636) 118 206 118.206 352721 622.561 173.938 173.938 359.472 568.072 19 19 TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 1.811.575 1.806.228 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 Egya Sanayi ve Ticaret AS on 11 February 2020. General Assembly and specified repilatory bodies have the right to make amendments to statutory financial statements after ist The accompany 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 (T1.) 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 (4.781608) GROSS PROFIT (LOSS) FROM COMMERCIAL OPERATIONS 884.674 912.365 912.365 884.674 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) 487908 (622385) 593.300 PROFIT (LOSS) BEFORE FINANCING INCOME (EXPENSE) 601.242 593.300 24 24 338.823 (375.501) 607.599 (579.132) 56-4.564 621.767 Finance Income Finance Costs PROFIT (LOSS) FROM CONTINUING OPERATIONS, HEFORE 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 TL. 1 of Par Value 26 26 3.508 (2913) 6.421 794 (5.512) 6.306 568.072 622.561 568072 6227561 27 2.99 3.28 The accompanying notes are an integral part of these financial statements 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 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 17.226) 416.161 502.688 (9.032) (1.707) 1.806 (84.820) OTHER COMPREHENSIVE INCOME Other Comprehensive Income that will not be Reclassified to Profit 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 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 25 OTHER COMPREHENSIVE INCOME (LOSS TOTAL. COMPREHENSIVE INCOME LOSS (85.161) 1.606 341 636 716 25 816 816 918 918 (180) (180) (6.590) 561.482 (202) (202) 416,877 1.039.438 The accompanying ces 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 (TL) unless otherwise indicated) Footnotes Audited 31 December 2020 Audited 31 December 2019 ASSETS 6,7 7 CURRENT ASSETS Cash and Cash Equivalents Trade Receivables Trade Receivables Due From Related Parties Trade Receivables De 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 6 216.011 3.285.995 3.280.987 5.000 1086 150 855.935 230.215 18.830 18.543 287 952552 53.422 53.422 1812 3.812 119328 1.748.257 1.741.171 7.086 630.205 482149 148.056 2.603 2.603 28 28 9 10 646.136 20.052 20.052 1.163 1163 18 5.616.772 3.167.744 The accompanying notes are an integral part of these financial statements 2 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 4.500 4.500 2.190.364 503.898 49.957 643.223 919.610 NON-CURRENT ASSETS Other Receivables Other Recevables Due From Third Parties Property, Piant and Equipments Land and Premises Land improvements Building Machinery and liquipment Vahides Fixtures and Fittings Leasehold Improvements Construction in Progress Right of Use Assets Intangible Assets and Goodwill Other Rights Capitalised Development Costs Other Intangible Assets Prepayments Prepayments to Third Parties TOTAL NON-CURRENT ASSETS TOTAL ASSETS 11 11 11 11 11 11 11 12 12 3.74 3748 1516259 192.824 39.632 435.552 771383 15 26336 5133 45 231 61.947 180.500 165 167955 12389 53.595 53.595 36.41 4.68 32.149 148.920 216.439 180 202.624 13.835 53.056 51056 13 13 13 10 2.613.219 1.816058 1.229.991 6963.802 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 (T1,7 unless otherwise indicated) Footnotes Audited 31 December 2020 Audited 31 December 2019 LIABILITIES CURRENT LIABILITIES 56 998.969 16.181 16.181 982.788 960.540 22248 234.294 733 300 6973 6973 726327 714041 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 Borrowing 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 abilities Derivative Financial Liabilities Held for Trading Derivative Financial abilities Held for Hedging Current Tax Llabilities, Current Current Provisions Other Current Provisions Other Current Liabilities Other Current abilities to Third Parties TOTAL CURRENT LIABILITIES 6.7 7 17 234.294 234.294 2.874,941 168.142 2.686.799 54.166 206285 206.285 48.839 11.743 37.096 2432 9.674 9.674 29.075 29.075 13342 13.342 2.069.922 132380 2.937542 42.925 70.291 70291 5.254 6 5.254 28 28 26 15 504 5.1567 5547 S0322 50.322 2991718 TE 675 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 (TL)unless otherwise indicated) Audited Footnotes 31 December 2020 Audited 31 December 2019 56 NON-CURRENT LIABILITIES Long Term Horrowing 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 Provision for Employee benefits Deferred Tax Liabilities TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 5 207.731 109,058 109.058 98673 88566 10.107 61,787 6177 85734 35.734 54.299 56,331 32546 32546 24 25 10.300 13.982 6.747 6.747 57.280 57.289 64.989 17 409,551 TES. 56 46.226 3.177.574 The areapany as are a weetarestaurane 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 19 19 19 3.361.765 190.000 9.734 109,031 1.806.228 190.000 9.734 109.031 771.673 771.673 395.981 395.981 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 Protor Loss Gains (Losses) on Hedge Gains (Losses) on Cash Flow Hedges Restricted Reserves Appropriated From Profits Legal Reserves Prior Years Profiles or Losses Current Perod Net Profit Or Loss B00.387 410.776 (28.514) (14.795) (29.447) (29.447) (29.447) 187.190 187 190 792.276 1331308 19 19 173.938 173.938 359.472 568.072 TOTAL TY 3.361.765 1806.226 TOTAL LIABILITIES AND EQUITY 8.229.991 4.983,802 Financial statements for the period 1 January - 31 December 2020 were approved by the Board of Directors of Vestel Beyaz Esya Sanayi ve Ticaret AS 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 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 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 Revenue Cost of Sales 20 20 9.409.285 (7.602.834) 6.967.964 (6.083.290) 1.806451 884.674 884.674 1.806,451 22 22 22 23 23 (81.028) (118.022) (78.866) 523.030 (547.368) (69.037) (93.392) (58.023) 314.368 (377348) 1.504.197 601.242 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 CONTINUING OPERATIONS, BEFORE TAX Tax (Expense) Income. Continuing Current Period Tax (Expense) Income Deferred Tax (Expense) locome PROFIT (LOSS) FROM CONTINUING OPERATIONS PROFIT (LOSS) Earnings Per Share with a TL 1 of Par Value 1.504.197 601.242 24 24 476.221 (648486) 338.823 (375.501) 1.331.932 564.564 3.508 (2.913) 6.421 26 26 (5.771) 5.147 1331,308 1,331.308 568.072 568,072 27 7,01 2.99 The accompanying notes are an integral part of these financial statements 7 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKETI 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 (T2") unless otherwise indicated) Audited 1 January 31 December 2020 Audited 1 January 31 December 2019 Footnotes 382442 (7.226) 401.410 (17.149) (9.032) (1819) 1.806 OTHER COMPREHENSIVE INCOME Other Comprehensive Income that will not 25 be Redassified 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 Redassified 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 3.430 1806 (29.447) 636 (36.809 (36.809) B16 816 7.362 74362 (180) (180) (6.590) 352.995 1684303 561482 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 6 7 6 8 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 From Unrelated Parties TOTAL CURRENT ASSETS 119.328 1.748.257 1.741.171 7086 630205 482.149 148.056 2603 2.603 646.136 20.052 20.052 1163 1163 120.847 1.480.213 1476.111 4.102 867.676 703 884 163.792 2028 2.028 579.054 12623 12623 B30 830 28 9 10 18 3.167.744 3.063.271 The accompanying notes are an integral part of these financial state 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 (172) unless otherwise indicated) Audited Audited Footnotes 11 December 2019 31 December 2018 3.748 2740 1516259 192.824 39.632 435552 771383 1.435.364 192324 40.833 438634 692.549 11 11 11 11 11 11 11 11 12 150 NON-CURRENT ASSETS Other Heceler Other Recevables Due From Unrelated Parties Property. Plant and Equipments Land and Premises Land improvements Buildings Machinery and Viquipments Vehicles Pixtures and Pring Leasehold Improvements Construction in Progress Right of Use Assets Intangible Amets and Goodwill Other Bucht Capitalized Development Costs Other intangble Assets Prepayments Payments to United Parties TOTAL NON CURRENT ASSETS TOTAL ASSETS 221 27.102 5.713 37.488 26.136 5130 45.231 6147 10 500 16 167955 1239 59 53305 13 13 13 146.367 69 137.167 9.631 39.590 39.50 LZLX21 10 1316 4.98302 4.685.092 The paying part of 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.) Audited Audited Footnotes 31 December 2019 31 December 2018 LIABILITIES CURRENT LIABILITIES 366.515 6 733,300 6.973 6.973 726327 714.041 12.286 13.342 5 5 366.515 365.864 651 287.078 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 abilities Other Current Liabilities to Unrelated Parties TOTAL CURRENT LIABILITIES 6 7 17 13.342 13.342 2.069.922 132380 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 6.802 28 28 26 15 504 5.847 5.847 50.322 50.322 18 2.991.718 2.747.126 The accompanying notes are an integral part of these financial statements 4 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 ("T1) unless otherwise indicated) Audited Audited Footnotes 31 December 2019 31 December 2018 NON-CURRENT LIABILITIES 111 111 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-carrent Provisions Non-current Provisions for Employee Benefits Deferred Tax Liabilities TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES 56,831 32546 32546 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 3.177.574 2.873.517 The accompanying notes are an integral part of these fancial statements VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKETI 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 19 19 19 833 1.806,228 190.000 9.734 109.031 1.811.575 190.00 9.734 109.031 395.981 395.981 409.958 409.958 EQUITY 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 (Los) 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 Lost 410.776 417.527 (14.795) (7.569) (636) (636) (636) 118 206 118.206 352721 622.561 173.938 173.938 359.472 568.072 19 19 TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 1.811.575 1.806.228 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 Egya Sanayi ve Ticaret AS on 11 February 2020. General Assembly and specified repilatory bodies have the right to make amendments to statutory financial statements after ist The accompany 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 (T1.) 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 (4.781608) GROSS PROFIT (LOSS) FROM COMMERCIAL OPERATIONS 884.674 912.365 912.365 884.674 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) 487908 (622385) 593.300 PROFIT (LOSS) BEFORE FINANCING INCOME (EXPENSE) 601.242 593.300 24 24 338.823 (375.501) 607.599 (579.132) 56-4.564 621.767 Finance Income Finance Costs PROFIT (LOSS) FROM CONTINUING OPERATIONS, HEFORE 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 TL. 1 of Par Value 26 26 3.508 (2913) 6.421 794 (5.512) 6.306 568.072 622.561 568072 6227561 27 2.99 3.28 The accompanying notes are an integral part of these financial statements 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 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 17.226) 416.161 502.688 (9.032) (1.707) 1.806 (84.820) OTHER COMPREHENSIVE INCOME Other Comprehensive Income that will not be Reclassified to Profit 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 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 25 OTHER COMPREHENSIVE INCOME (LOSS TOTAL. COMPREHENSIVE INCOME LOSS (85.161) 1.606 341 636 716 25 816 816 918 918 (180) (180) (6.590) 561.482 (202) (202) 416,877 1.039.438 The accompanying ces 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 (TL) unless otherwise indicated) Footnotes Audited 31 December 2020 Audited 31 December 2019 ASSETS 6,7 7 CURRENT ASSETS Cash and Cash Equivalents Trade Receivables Trade Receivables Due From Related Parties Trade Receivables De 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 6 216.011 3.285.995 3.280.987 5.000 1086 150 855.935 230.215 18.830 18.543 287 952552 53.422 53.422 1812 3.812 119328 1.748.257 1.741.171 7.086 630.205 482149 148.056 2.603 2.603 28 28 9 10 646.136 20.052 20.052 1.163 1163 18 5.616.772 3.167.744 The accompanying notes are an integral part of these financial statements 2 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 4.500 4.500 2.190.364 503.898 49.957 643.223 919.610 NON-CURRENT ASSETS Other Receivables Other Recevables Due From Third Parties Property, Piant and Equipments Land and Premises Land improvements Building Machinery and liquipment Vahides Fixtures and Fittings Leasehold Improvements Construction in Progress Right of Use Assets Intangible Assets and Goodwill Other Rights Capitalised Development Costs Other Intangible Assets Prepayments Prepayments to Third Parties TOTAL NON-CURRENT ASSETS TOTAL ASSETS 11 11 11 11 11 11 11 12 12 3.74 3748 1516259 192.824 39.632 435.552 771383 15 26336 5133 45 231 61.947 180.500 165 167955 12389 53.595 53.595 36.41 4.68 32.149 148.920 216.439 180 202.624 13.835 53.056 51056 13 13 13 10 2.613.219 1.816058 1.229.991 6963.802 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 (T1,7 unless otherwise indicated) Footnotes Audited 31 December 2020 Audited 31 December 2019 LIABILITIES CURRENT LIABILITIES 56 998.969 16.181 16.181 982.788 960.540 22248 234.294 733 300 6973 6973 726327 714041 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 Borrowing 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 abilities Derivative Financial Liabilities Held for Trading Derivative Financial abilities Held for Hedging Current Tax Llabilities, Current Current Provisions Other Current Provisions Other Current Liabilities Other Current abilities to Third Parties TOTAL CURRENT LIABILITIES 6.7 7 17 234.294 234.294 2.874,941 168.142 2.686.799 54.166 206285 206.285 48.839 11.743 37.096 2432 9.674 9.674 29.075 29.075 13342 13.342 2.069.922 132380 2.937542 42.925 70.291 70291 5.254 6 5.254 28 28 26 15 504 5.1567 5547 S0322 50.322 2991718 TE 675 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 (TL)unless otherwise indicated) Audited Footnotes 31 December 2020 Audited 31 December 2019 56 NON-CURRENT LIABILITIES Long Term Horrowing 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 Provision for Employee benefits Deferred Tax Liabilities TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES 5 207.731 109,058 109.058 98673 88566 10.107 61,787 6177 85734 35.734 54.299 56,331 32546 32546 24 25 10.300 13.982 6.747 6.747 57.280 57.289 64.989 17 409,551 TES. 56 46.226 3.177.574 The areapany as are a weetarestaurane 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 19 19 19 3.361.765 190.000 9.734 109,031 1.806.228 190.000 9.734 109.031 771.673 771.673 395.981 395.981 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 Protor Loss Gains (Losses) on Hedge Gains (Losses) on Cash Flow Hedges Restricted Reserves Appropriated From Profits Legal Reserves Prior Years Profiles or Losses Current Perod Net Profit Or Loss B00.387 410.776 (28.514) (14.795) (29.447) (29.447) (29.447) 187.190 187 190 792.276 1331308 19 19 173.938 173.938 359.472 568.072 TOTAL TY 3.361.765 1806.226 TOTAL LIABILITIES AND EQUITY 8.229.991 4.983,802 Financial statements for the period 1 January - 31 December 2020 were approved by the Board of Directors of Vestel Beyaz Esya Sanayi ve Ticaret AS 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 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 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 Revenue Cost of Sales 20 20 9.409.285 (7.602.834) 6.967.964 (6.083.290) 1.806451 884.674 884.674 1.806,451 22 22 22 23 23 (81.028) (118.022) (78.866) 523.030 (547.368) (69.037) (93.392) (58.023) 314.368 (377348) 1.504.197 601.242 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 CONTINUING OPERATIONS, BEFORE TAX Tax (Expense) Income. Continuing Current Period Tax (Expense) Income Deferred Tax (Expense) locome PROFIT (LOSS) FROM CONTINUING OPERATIONS PROFIT (LOSS) Earnings Per Share with a TL 1 of Par Value 1.504.197 601.242 24 24 476.221 (648486) 338.823 (375.501) 1.331.932 564.564 3.508 (2.913) 6.421 26 26 (5.771) 5.147 1331,308 1,331.308 568.072 568,072 27 7,01 2.99 The accompanying notes are an integral part of these financial statements 7 VESTEL BEYAZ EYA SANAY VE TCARET ANONM RKETI 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 (T2") unless otherwise indicated) Audited 1 January 31 December 2020 Audited 1 January 31 December 2019 Footnotes 382442 (7.226) 401.410 (17.149) (9.032) (1819) 1.806 OTHER COMPREHENSIVE INCOME Other Comprehensive Income that will not 25 be Redassified 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 Redassified 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 3.430 1806 (29.447) 636 (36.809 (36.809) B16 816 7.362 74362 (180) (180) (6.590) 352.995 1684303 561482 The accompanying notes are an integral part of these financial statements