CELEBİ 2021 ANNUAL REPORT

99 Çelebi Ground Handling Inc. 2022 Annual Report NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ AND ITS SUBSIDIARIES (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) The reconciliation of EBITDA with operating profit before tax is as follows: 1 January - 1 January - 31 December 31 December 2022 31 December 2021 EBITDA for reported segments 2.011.490.969 813.244.513 Depreciation and amortization (366.282.358) (206.052.038) TFRIC -12 effect (19.915.728) (12.647.486) Other operating income 137.751.907 60.483.487 Other operating expenses (-) (141.843.768) (88.395.811) Provisions for employment termination benefit and unused vacation (43.509.838) (29.129.995) EBITDA effect of investments accounted by using equity method (2.688.691) (11.746.974) Operating profit 1.575.002.493 525.755.696 Shares in profit from investments accounted by equity method (1.910.106) 3.781.303 Income from investing activities 813.475 84.541.331 Expenses from investing activities (-) (27.867.600) (1.219.124) Finance income 200.039.323 188.534.725 Finance expenses (-) (284.931.130) (171.358.032) Profit before tax 1.461.146.455 630.035.899 NOTE 4 - CASH AND CASH EQUIVALENTS 31 December 2022 31 December 2021 Cash 1.735.686 941.624 Banks 1.927.228.079 1.093.021.210 - time deposit 1.255.465.152 744.666.178 - demand deposit 671.762.927 348.355.032 1.928.963.765 1.093.962.834 As of 31 December 2022, effective interest rates on TL, EUR, USD and INR denominated time deposits are 15,21%, 1,46%, 1,33%, and 5,38% (31 December 2021: TL 15,73%, EUR 3,95%, USD 0,37%, INR 5,22%). As of 31 December 2022, the maturity of denominated time deposits are 1 day for TL, USD and EUR, and 45 days for INR (31 December 2021: TL, EUR and USD 1 day, INR 20-60 days). The details of cash and cash equivalents presented in the statements of cash flows as of 31 December 2022 and 2021 are as follows: 31 December 2022 31 December 2021 Cash on hand and cash at banks 1.928.963.765 1.093.962.834 Less: Interest accruals (1.433.202) (388.002) 1.927.530.563 1.093.574.832