CELEBI GROUND HANDLING ANNUAL REPORT 2018

ÇELEBİ HAVA SERVİSİ A.Ş. 82 Çelebi Ground Handling 2018 Annual Report 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.) Convenience Translation into English of Consolidated Financial Statements Originally Issued in Turkish NOTE 6 - INVESTMENT ACCOUNTED BY USING THE EQUITY METHOD Percentage of shares % December 31, 2018 Percentage of shares% December 31, 2017 Çelebi Nas 57,00 87.725.263 57,00 59.201.097 DASPL 24,99 8.000.645 24,99 5.790.207 95.725.908 64.991.304 The movements of investments accounted using the equity method during the periods ended December 31, 2018 and December 31, 2017 are as follows: December 31, 2018 December 31, 2017 As of January 1 64.991.304 42.739.300 Share of profit/loss 23.371.805 11.527.783 Currency translation differences 16.108.238 7.094.789 Transfers to investments accounted by using the equity method (*) - 3.616.398 Shares from retained earnings - 1.206.775 Actuarial gains/losses from defined benefit plans (200.767) (143.741) Equity effect on acquisition of additional shares (8.544.672) (1.050.000) As of December 31 95.725.908 64.991.304 (*) As of December 31, 2017, it is the effect of the accounting of the the additional share purchase of 8.33%. by subsidiary of CASI, DASPL. (**) The dividend that DASPL and Celebi Nas paid to their shareholders from retained earnings are the shares of CASI and Çelebi Hava shares respectively. Shares of profit/loss from investments accounted using the equity method: January 1- January 1- December 31, 2018 September 31, 2017 Çelebi Nas 20.372.822 10.487.861 DASPL 2.998.983 1.039.922 23.371.805 11.527.783 Summary of financial statments of the investment accounted by using the equity method Summary of financial statements of Çelebi Nas is as follows: December 31, 2018 December 31, 2017 Total Assets 340.587.418 187.460.245 Total Liabilities 191.429.738 88.344.963 January 1 - January 1 - December 31, 2018 December 31, 2017 Revenue 177.375.530 119.575.076 Net profit/(loss) for the period 35.741.793 18.399.756