ÇELEBİ AR19-270720 (1)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2019 ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) Convenience Translation into English of Consolidated Financial Statements Originally Issued in Turkish 66 Çelebi Ground Handling Inc. 2019 Annual Report b) Current period effect As a result of TFRS 16, as of December 31, 2019, the Group has accounted TL 428.056.013 right of use assets and TL 458.746.839 lease liabilities, for leasing transactions classified as operating leases previously and for leasing classified as financial leases in accordance with TAS 17. In addition, the Group has accounted for depreciation and interest expenses rather than operating lease expenses related to the lease agreements under TFRS 16. During the nine months ended December 31, 2019, the Group has accounted for TL 60.011.635 amortization expense and TL 22.553.532 interest expense from these leases. December 31, 2019 TFRS 16 effects (without effects) December 31, 2019 ASSETS Current assets Prepaid expenses 29.502.211 1.155.072 30.657.283 Current assets other than above item 593.649.600 - 593.649.600 Total current assets 623.151.811 1.155.072 624.306.883 Non-current assets Investments accounted using the equity method 129.954.118 18.300 129.972.418 Right of use assets 428.056.013 (428.056.013) - Prepaid expenses 20.038.235 11.550.720 31.588.955 Deferred tax asset 102.587.821 (8.120.495) 94.467.326 Non-current assets other than above item 915.801.690 - 915.801.690 Total non current assets 1.596.437.877 (424.607.488) 1.171.830.389 Total assets 2.219.589.688 (423.452.416) 1.796.137.272 LIABILITIES Current liabilities Lease liabilities 93.894.997 (93.894.997) - Current liabilities other than above item 726.844.960 - 726.844.960 Total current liabilities 820.739.957 (93.894.997) 726.844.960 Non-current liabilities Lease liabilities 364.787.559 (364.787.559) - Non-current liabilities other than above item 461.625.208 - 461.625.208 Total non-current liabilities 826.412.767 (364.787.559) 461.625.208 Total liabilities 1.647.152.724 (458.682.556) 1.188.470.168 SHAREHOLDER’S EQUITY Foreign currency translation differences 136.376.158 92.953 136.469.111 Net profit for the period 192.355.079 35.137.187 227.492.266 Shareholder’s equity other than above item 243.705.727 - 243.705.727 Total shareholder’s equity 572.436.964 35.230.140 607.667.104 Total liabilities and shareholder’s equity 2.219.589.688 (423.452.416) 1.796.137.272