CELEBI GROUND HANDLING ANNUAL REPORT 2018

ÇELEBİ HAVA SERVİSİ A.Ş. 81 Çelebi Ground Handling 2018 Annual Report Convenience Translation into English of Consolidated Financial Statements Originally Issued in Turkish NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2018 (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) NOTE 4 - CASH AND CASH EQUIVALENTS December 31, 2018 December 31, 2017 Cash 394.786 276.193 Banks 196.629.005 106.670.336 - time deposit 146.792.870 75.185.656 - demand deposit 49.836.135 31.484.680 Other (Liquid fund) - 6.625.712 197.023.791 113.572.241 As of December 31, 2018, effective interest rates on TL, EUR, USD and INR denominated time deposits are 18,16%, 1,54%, 3,17% and 6,25% respectively. (December 31, 2017: TL 14,20%, EUR 1,60%, USD 3,20%, INR 5,25%). As of December 31, 0218 the maturity days of denominated time deposits are 2 days for TL and USD, 25 days for EUR and 51 days for INR (December 31, 2017: TL, EUR and USD 4 days, INR 10 days,). The analysis of cash and cash equivalents in terms of consolidated statements of cash flows at December 31, 2018 and December 31, 2017 are as follows: December 31, 2018 December 31, 2017 Cash and banks 197.023.791 106.946.529 Other - 6.625.712 Less: Interest accruals (293.018) (167.826) 196.730.773 113.404.415 NOTE 5 - FINANCIAL INVESTMENTS Restricted Bank Balances: December 31, 2018 December 31, 2017 Restricted bank balances (*) 51.444.157 13.369.356 51.444.157 13.369.356 (*) Restricted bank balances are the cash amounts collected from the customers and the cash amounts obtained for the project financing as outlined in the concession agreement signed for the operation of the New Delhi Airport in India. Restricted bank balances are kept in blocked bank accounts with a maturity of longer than 3 months. Financial investments with fair value difference reflected to other comprehensive income December 31, 2018 December 31, 2017 Percentage of shares% TL Percentage of shares% TL Celebi Spain (*) 100,00 166.650 100,00 20.527 166.650 20.527 (*) As at December 31, 2018, Celebi Spain, which is non-operational, is not significant to the consolidated financial statements of the Group, accordingly accounted as Financial investments with fair value difference reflected to other comprehensive income with the cost amount less impairment, if any, in the consolidated financial statements of the Group.