CELEBI GROUND HANDLING 2023 ANNUAL REPORT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ AND ITS SUBSIDIARIES (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) 106 Çelebi Ground Handling Inc. 2023 Annual Report NOTE 8 - TRADE RECEIVABLES AND PAYABLES Short-term trade receivables 31 December 2023 31 December 2022 Trade receivables from third parties 1.514.277.545 658.660.045 Less: Provision for impairment (170.963.628) (98.676.286) Trade receivables from third parties (net) 1.343.313.917 559.983.759 Trade receivables from related parties (Note 31) 4.213.897 1.682.036 Total short-term trade receivables 1.347.527.814 561.665.795 The average collection period of trade receivables is 0-2 months, and they are classified as short-term trade receivables. The Group holds its trade receivables to collect the contractual cash flows and therefore measures at amortized cost using the effective interest method. Movements of provisions for doubtful receivables within accounting periods are as follows: 31 December 2023 31 December 2022 Opening balance 98.676.286 79.272.561 Additional provisions in the current period 30.650.211 2.377.758 Foreign currency translation differences 47.606.450 20.679.971 Collections and provisions released (5.969.319) (3.654.004) Closing balance 170.963.628 98.676.286 Credit risks exposed by the Group for each financial instrument type as of 31 December 2023 and 2022 are shown below: Trade receivables Other receivables 31 December 2023 Related party Other Related party Other Bank deposits Maximum of credit risk exposed as of the reporting date 4.213.897 1.343.313.917 983.021.737 1.058.818.686 3.809.693.754 - Amount of risk covered by guarantees - 66.597.329 - - - Net carrying value of financial assets which are not due or not impaired 4.213.897 1.206.725.954 983.021.737 1.058.818.686 3.809.693.754 Net carrying value of financial assets which are overdue but not impaired - 136.587.963 - - - - Amount of risk covered by guarantees - 7.824.611 - - - Net carrying value of impaired assets - Overdue (gross carrying value) - 170.963.628 - - - - Impairment (-) - (170.963.628) - - - - Amount of risk covered by guarantees - - - - -