(CONVENIENCE TRANSLATION INTO ENGLISH OF FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)
BANVİT BANDIRMA VİTAMİNLİ YEM SANAYİ ANONİM ŞİRKETİ | |
TABLE OF CONTENTS | PAGE |
FINANCIAL POSITION | 1-2 |
PROFIT OR LOSS AND | |
OTHER COMPREHENSIVE INCOME | 3 |
CHANGE IN EQUITY | 4 |
CASH FLOWS | 5 |
THE FINANCIAL STATEMENTS | 6-73 |
BANVİT BANDIRMA VİTAMİNLİ YEM SANAYİ ANONİM ŞİRKETİ
FINANCIAL POSITION AS AT 31 DECEMBER 2024
(All amounts are expressed in Turkish Lira ("TL") unless otherwise stated.)
(The information provided only for comparison purposes is expressed in purchasing power as of 31 December 2024.)
Audited | |||
Note | 31 December 2024 | 31 December 2023 | |
ASSETS | |||
Current Assets | |||
Cash and cash equivalents | 3 | 5,298,838,800 | 1,817,196,016 |
Trade receivables | 2,327,220,130 | 2,196,181,998 | |
- Related parties | 5 | 144,316,145 | 46,247,743 |
- Other parties | 6 | 2,182,903,985 | 2,149,934,255 |
Other receivables | 7 | 163,280,872 | 161,499,687 |
- Other parties | 163,280,872 | 161,499,687 | |
Inventories | 8 | 1,686,289,693 | 1,841,605,357 |
Biological assets | 9 | 1,638,051,492 | 1,688,801,572 |
Prepaid expense | 10 | 239,305,977 | 204,228,539 |
Current tax assets | 32 | -- | 207,749,676 |
Other current assets | 21 | 1,294,783,947 | 1,146,389,922 |
Subtotal | 12,647.770.911 | 9,263,652,767 | |
Assets held for sale | 22 | -- | 57,441,117 |
Total Current Assets | 12,647,770,911 | 9,321,093,884 | |
Non-Current Assets | |||
Other receivables | 7 | 809,509 | 547,704 |
- Other parties | 809,509 | 547,704 | |
Property, plant and equipment | 13 | 5,870,536,296 | 6,215,219,333 |
Right of use assets | 15 | 247,450,824 | 103,118,890 |
Intangible assets | 14 | 42,669,933 | 121,499,121 |
Prepaid expenses | 10 | 271,212 | 20,881,736 |
Total Non-current Assets | 6,161,737,774 | 6,461,266,784 | |
Total Assets | 18,809,508,685 | 15,782,360,668 |
The accompanying notes are an integral part of these financial statements.
1
BANVİT BANDIRMA VİTAMİNLİ YEM SANAYİ ANONİM ŞİRKETİ
FINANCIAL POSITION AS AT 31 DECEMBER 2024
(All amounts are expressed in Turkish Lira ("TL") unless otherwise stated.)
(The information provided only for comparison purposes is expressed in purchasing power as of 31 December 2024.)
Audited | |||
Note | 31 December 2024 | 31 December 2023 | |
LIABILITIES | |||
Short-term Liabilities | |||
Short-term borrowings | 4 | 1,798,897,896 | 1,769,289,939 |
Short-term lease liabilities | 4 | 71,511,808 | 10,747,778 |
Short-term portions of long-term borrowings | 4 | 49,521,578 | 66,628,748 |
Other financial liabilities | 4 | 61,358,036 | 1,851,066 |
Trade payables | 4,658,668,871 | 4,877,272,143 | |
-Related parties | 5 | 295,286,033 | -- |
-Other parties | 6 | 4,363,382,838 | 4,877,272,143 |
Liabilities related to the employee benefits | 20 | 236,337,966 | 209,621,192 |
Derivative Instruments | -- | 13,631,314 | |
Other payables | 123,868,514 | 320,118,276 | |
-Related parties | 5 | 18,659,696 | 315,709,062 |
-Other parties | 7 | 105,208,818 | 4,409,214 |
Deferred revenue | 11 | 296,130,693 | 88,139,495 |
Current tax liabilities | 32 | 168,323,816 | 559,915,413 |
Short-term provisions | 301,978,933 | 233,484,520 | |
-Provisions related to the employee benefits | 19 | 272,696,005 | 204,314,929 |
-Other | 18 | 29,282,928 | 29,169,591 |
Other short-term liabilities | -- | 848,206 | |
Total Short-term Liabilities | 7,766,598,111 | 8,151,548,090 | |
Long-term Liabilities | |||
Long-term borrowings | 4 | 54,046,012 | 100,116,941 |
Long-term lease liabilities | 4 | 95,639,784 | 16,186,721 |
Deffered revenue | 9,884,259 | -- | |
Long-term provisions | 601,753,919 | 1,071,938,723 | |
-Provisions related to the employee benefits | 19 | 601,753,919 | 1,071,938,723 |
Deferred tax liability | 32 | 277,450,167 | 87,724,127 |
Total Long-term Liabilities | 1,038,774,141 | 1,275,966,512 | |
Total Liabilities | 8,805,372,252 | 9,427,514,602 | |
EQUITY | |||
Paid-in share capital | 23 | 100,023,579 | 100,023,579 |
Inflation adjustment of capital | 23 | 1,997,640,242 | 1,997,640,242 |
Accumulated other comprehensive expense | |||
that will not be reclassified through profit or loss | (292,108,685) | (517,443,475) | |
- Remeasurement of the defined benefit plans | (827,235,123) | (1,064,366,384) | |
- Fixed assets revaluation | 23 | 535,126,438 | 546,922,909 |
Accumulated other comprehensive expense | |||
that may be reclassified through profit or loss | -- | 885,975,965 | |
-Translation differences | 23 | -- | 885,975,965 |
- Hedging gains | 23 | -- | -- |
Restricted reserves | 23 | 243,423,905 | 243,423,905 |
Other reserves | 23 | 82,609,206 | 82,609,206 |
Retain Earnings | 23 | 4,273,469,659 | 2,188,180,423 |
Profit for the period | 3,599,078,527 | 1,374,436,221 | |
Total Equity | 10,004,136,433 | 6,354,846,066 | |
Total Equity and Liabilities | 18,809,508,685 | 15,782,360,668 |
The accompanying notes are an integral part of these interim condensed financial statements.
2
BANVİT BANDIRMA VİTAMİNLİ YEM SANAYİ ANONİM ŞİRKETİ
PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME AS AT DECEMBER 2024
(All amounts are expressed in Turkish Lira ("TL") unless otherwise stated.)
(The information provided only for comparison purposes is expressed in purchasing power as of 31 December 2024.)
Audited | |||||
1 January - | 1 January - | ||||
Note | 31 December 2024 | 31 December 2023 | |||
Revenue | 24 | 31,533,780,551 | 30,788,565,934 | ||
Cost of Sales (-) | 24 | (24,143,605,794) | (27,135,626,509) | ||
Gross Profit from Business Operations | 7,390,174,757 | 3,652,939,425 | |||
General administrative expenses (-) | 25 | (1,112,736,634) | (668,434,836) | ||
Selling, marketing and distribution expenses (-) | 25 | (1,884,904,318) | (1,721,933,794) | ||
Research and development expenses (-) | (886,175) | (615,921) | |||
Other income from operating activities | 27 | 942,625,257 | 1,496,810,505 | ||
Other expenses from operating activities (-) | 27 | (563,942,630) | (2,287,649,930) | ||
(Loss)/Profit From Operating Activities | 4,770,330,257 | 471,115,449 | |||
Income from investing activities | 28 | 1,355,313 | 138,849,980 | ||
Loss from investing activities (-) | -- | -- | |||
(Loss)/Profit From Operating Activities | |||||
Before Financial Expense | 4,771,685,570 | 609,965,429 | |||
Finance income | 29 | 1,120,896,332 | 271,928,046 | ||
Finance expenses (-) | 29 | (1,361,848,148) | (1,739,476,980) | ||
Monetary gain/loss (-) | 30 | 615,559,127 | 2,891,170,621 | ||
(Loss)/Profit Before Tax from Continuing Operations | 5,146,292,881 | 2,033,587,116 | |||
(Loss)/Profit Before Tax from Discontinued Operations | 22 | -- | (71,255,622) | ||
Tax (Expense)/Income | |||||
- Current tax income/(expense) | 32 | (1,436,532,068) | (608,831,761) | ||
- Deferred tax income | 32 | (110,682,286) | 20,936,488 | ||
(Loss)/Profit For the Period | 3,599,078,527 | 1,374,436,221 | |||
Parent company | 3,599,078,527 | 1,374,436,221 | |||
(Loss)/Earnings per share | 33 | ||||
Earnings per share from continuing operations | 35,9823 | 14.4535 | |||
Diluted earnings per share from continuing operations | 33 | 35,9823 | 14.4535 | ||
Earnings/(loss) per share from discontinued operations | 33 | -- | (0.7124) | ||
Diluted earnings/(loss) per share from discontinued | |||||
operations | -- | (0.7124) | |||
OTHER COMPREHENSIVE INCOME | -- | ||||
That will not be reclassified through profit or loss | 237,131,261 | (290,977,690) | |||
- Defined benefit plans remeasurement losses | 19 | 316,175,015 | (844,375,057) | ||
- Deferred tax income/(expense) | (79,043,754) | 211,093,765 | |||
- Property, plant and equipment revaluation | |||||
increases/(decreases), net | -- | -- | |||
- Deferred tax effect of property, plant and equipment value | |||||
increases/(decreases) | -- | 342,303,602 | |||
That may be reclassified through profit or loss | -- | (368,877,449) | |||
- Cash flow hedge gains/(losses) | -- | 36,193,960 | |||
- Deferred tax income/(expense) | -- | (9,048,490) | |||
- Translation reserve | 31 | -- | (396,022,919) | ||
Total Other Comprehensive Gain / (Loss) | 237,131,261 | (659,855,139) | |||
Total Comprehensive Income | 3,836,209,788 | 714,581,082 |
The accompanying notes are an integral part of these financial statements.
3