CELEBI GROUND HANDLING ANNUAL REPORT 2018

ÇELEBİ HAVA SERVİSİ A.Ş. 56 Çelebi Ground Handling 2018 Annual Report Current Period Prior Period Audited Audited Notes January 1- December 31, 2018 January 1- December 31, 2017 A. Cash flows from operating activities 322.036.269 183.518.445 Net period profit/loss 208.450.271 86.401.175 Adjustment for reconciliation of net for the period profit/ loss 290.764.169 142.065.219 Adjustment related depreciation and amortisation expense 11, 12 66.961.944 38.492.674 Adjustments related impairment (reversals) 8 9.508.554 1.985.128 Adjustment related to provisions 60.286.992 41.827.357 - Adjustment related to provisions for - - employee benefits 10.768.247 12.132.118 - Adjustments related other provisions (reversals) 49.518.745 29.695.239 Adjustments related to interest income and expense 22, 23 12.681.076 13.521.801 - Adjustment related to interest income (11.894.091) (4.792.257) - Adjustment related to interest expense 24.575.167 18.314.058 Adjustment related to unrealized related foreing exchange translation differences 161.977.903 37.427.690 Adjustment related to tax (income) expense 6.361.830 20.982.295 Adjustment related to undistributed profit of investments are accounted by the equity method 6 (23.371.805) (11.527.783) Adjustment related to (gain/loss) on sales of property, plant and equipment, net 24 (3.642.325) (643.943) Changes in working capital (142.798.748) (8.843.165) Increase/decrease in financial investments (38.346.116) (2.798.302) Adjustment related to increase/decrease in trade receivables (67.501.053) (26.602.988) -Increase/decrease in due from related parties 93.524 (663.928) -Increase/decrease in due from third parties (67.594.577) (25.939.060) Adjustment related to increase/decrease in other receivables related with operations (57.573.370) (5.641.290) Adjustment related to increase/decrease in inventories (1.651.630) (1.266.164) Increase/decrease in prepaid expenses (28.589.119) 152.062 Adjustment related to increase/decrease in trade payables 22.567.191 12.939.852 -Increase/decrease in due to related parties (1.612.877) 4.257.827 -Increase/decrease in due to third parties 24.180.068 8.682.025 Increase/decrease in payables related to employee benefits 11.184.496 3.206.378 Adjustment related to increase/decrease in other payables related with operations 17.110.853 11.167.287 Cash flows from operating activities 356.415.692 219.623.229 Payment related to provisions for employee benefit 13 (11.129.629) (9.913.189) Payments related to other provision (242.504) (117.285) Tax payments/returns (23.007.290) (26.074.310) The accompanying notes form an integral part of these consolidated financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD OF 1 JANUARY – 31 DECEMBER 2018 (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.)