ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ VE BAĞLI ORTAKLIKLARI 117 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) Çelebi Ground Handling 2024 Annual Report Goodwill Goodwill as of 31 December 2024 and 2023 is as follows: 31 December 2024 31 December 2023 Goodwill due to acquisition of CGHH 208.994.971 199.415.548 Goodwill due to acquisition of KSU 13.370.158 12.019.640 Goodwill due to acquisition of PTN (Note 2.6) 131.660.311 - 354.025.440 211.435.188 Goodwill movement table as of 31 December 2023 is as follows: 31 December 2024 31 December 2023 1 January 211.435.188 124.300.843 Additions 131.660.311 - Foreign currency translation differences 10.929.941 87.134.345 Goodwill 354.025.440 211.435.188 Goodwill impairment test The Group tests goodwill at least once a year for the risk of impairment. A valuation report prepared by an independent valuation firm is based on for ordinary goodwill impairment test. 31 December 2024 31 December 2023 Ground handling services - CGHH 208.994.971 199.415.548 The recoverable value of the cash generating unit, has been determined by taking the usage calculations as a basis. These calculations are based on cash flow estimates covering the 5-year period, which have been approved by management and better reflect management’s expectations and forecasts for the future development of the business. Continuous growth rate of 2,1% used to determine the final value for the period exceeding the forecast period. Other important assumptions in the fair value calculation model are as follows. Discount rate 11,2% The management bases its budget on previous performance and market growth expectations. The weighted average growth rates used are in line with the estimation stated in industry reports. The discount rate used is the before tax discount rate and includes the Company specific risk factors. 31 December 2024 31 December 2023 Ground handling services - KSU 13.370.158 12.019.640 The recoverable value of the cash generating unit, has been determined by taking the usage calculations as a basis. These calculations are based on cash flow estimates covering the 5-year period, which have been approved by management and better reflect management’s expectations and forecasts for the future development of the business. Continuous growth rate of 4,0% used to determine the final value for the period exceeding the forecast period. Other important assumptions in the fair value calculation model are as follows. Discount rate 17,6%