CarrefourSA Carrefour Sabanci Ticaret Merkezi : Financial Statements and Notes as of 30 September 2022 Dosyayı indirmek için tıklayınız.

CARREFOURSA CARREFOUR

SABANCI TİCARET MERKEZİ A.Ş.

CONVENIENCE TRANSLATION INTO ENGLISH OF

CONDENSED FINANCIAL STATEMENTS

FOR THE INTERIM PERIOD 1 JANUARY - 30 SEPTEMBER 2022

(ORIGINALLY ISSUED IN TURKISH)

27 October 2022

This report contains 2 pages of the review report and 43 pages of condensed interim financial statements and notes.

CONVENIENCE TRANSLATION OF THE INDEPENDENT AUDITOR'S REPORT ORIGINALLY PREPARED AND ISSUED IN TURKISH TO ENGLISH

To the Board of Directors of CarrefourSA Carrefour Sabancı Ticaret Merkezi Anonim Şirketi

Introduction

We have reviewed the accompanying condensed statement of financial position of CarrefourSA Carrefour Sabancı Ticaret Merkezi Anonim Şirketi (the ''Company'') as at 30 September 2022, and the condensed statements of profit or loss and other comprehensive income, changes in equity and cash flows for the nine month period then ended, and notes to the interim financial information ("the condensed interim financial information"). Management is responsible for the preparation and presentation of this condensed interim financial information in accordance with Turkish Accounting Standard 34 Interim Financial Reporting ("TAS 34") issued by the Public Oversight Accounting and Auditing Standards Authority ("POA"). Our responsibility is to express a conclusion on this condensed interim financial information based on our review.

Scope of Review

We conducted our review in accordance with Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of condensed interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

©2022 KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş., a Turkish Corporation and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial information is not prepared, in all material respects, in accordance with TAS 34.

The accounting principles summarized in Note 2, differ from the accounting principles generally accepted in countries in which the accompanying financial statements are to be distributed and International Financial Reporting Standards ("IFRS"). Accordingly, the accompanying financial statements are not intended to present the financial position and results of operations in accordance with accounting principles generally accepted in such countries of users of the financial statements and IFRS.

Other Matter

The additional information in Appendix I is not part of the reviewed interim condensed financial information. This additional information has not been reviewed, so we do not express any review results or give any other assurance on this additional information.

KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş.

ORIGINALLY ISSUED IN TURKISH

Erman Durmaz, SMMM

Engagement Partner

27 October 2022

CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

CARREFOURSA CARREFOUR SABANCI TİCARET MERKEZİ A.Ş.

CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE INTERIM PERIOD 1 JANUARY - 30 SEPTEMBER 2022

CONTENTS		PAGE(S)
CONDENSED BALANCE SHEETS..........................................................................................................	……	1-2
CONDENSED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ..........	3
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY ..........................................	4
CONDENSED STATEMENTS OF CASH FLOWS ..........................................................................................	5-6
NOTES TO THE CONDENSED FINANCIAL STATEMENTS .......................................................................	7-43
NOTE 1	ORGANISATION AND NATURE OF OPERATIONS ................................................................	7
NOTE 2	BASIS OF PRESENTATION OF CONDENSED FINANCIAL STATEMENTS ........................	8-13
NOTE 3	CASH AND CASH EQUIVALENTS ............................................................................................	13-14
NOTE 4	FINANCIAL LIABILITIES ...........................................................................................................	15-17
NOTE 5	TRADE RECEIVABLES AND PAYABLES ................................................................................	18-19
NOTE 6	INVENTORIES ..............................................................................................................................	19
NOTE 7	PROPERTY, PLANT AND EQUIPMENT ....................................................................................	20-21
NOTE 8	RIGHT OF USE ASSETS ..............................................................................................................	22
NOTE 9	INTANGIBLE ASSETS ..................................................................................................................	23
NOTE 10	GOODWILL ...................................................................................................................................	24
NOTE 11	SHORT AND LONG TERM PROVISIONS .................................................................................	24-25
NOTE 12	LETTER OF GUARANTEES, PLEDGES AND MORTGAGES..................................................	26
NOTE 13	EMPLOYEE BENEFIT LIABILITIES ..........................................................................................	26
NOTE 14	OTHER CURRENT LIABILITIES ................................................................................................	27
NOTE 15	SHAREHOLDER'S EQUITY ........................................................................................................	27-29
NOTE 16	REVENUE AND COST OF SALES ..............................................................................................	30
NOTE 17	MARKETING AND GENERAL ADMINISTRATIVE EXPENSES ............................................	31
NOTE 18	EXPENSES BY NATURE .............................................................................................................	31
NOTE 19	OTHER INCOME AND EXPENSES FROM OPERATING ACTIVITIES .....................................	32
NOTE 20	INCOME AND EXPENSES FROM INVESTMENT ACTIVITIES ................................................	32
NOTE 21	FINANCE INCOME ......................................................................................................................	33
NOTE 22	FINANCE COSTS..........................................................................................................................	33
NOTE 23	TAX ASSETS AND LIABILITIES................................................................................................	33-36
NOTE 24	EARNINGS / (LOSS) PER SHARE...............................................................................................	36
NOTE 25	TRANSACTIONS AND BALANCES WITH RELATED PARTIES ...........................................	37-39
NOTE 26 FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT................................	40-43
NOTE 27 EVENTS AFTER THE BALANCE SHEET DATE........................................................................	43
OTHER INFORMATION
APPENDIX I ADDITIONAL INFORMATION.....................................................................................................	44-46

CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED INTERIM FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

CARREFOURSA CARREFOUR SABANCI TİCARET MERKEZİ A.Ş.

CONDENSED BALANCE SHEETS AT 30 SEPTEMBER 2022 AND 31 DECEMBER 2021

(Amounts expressed in Turkish Lira ("TRY") unless otherwise indicated.)

	Notes	30 September 2022	31 December 2021
ASSETS
Current Assets		4,641,762,131	2,562,518,422
Cash and Cash Equivalents	3	1,564,368,939	873,978,953
Trade Receivables
Due From Related Parties	5, 25	53,987,571	3,861,976
Due From Third Parties	5	228,047,209	136,468,763
Other Receivables
Due From Third Parties		106,609,634	12,955,191
Inventories	6	2,576,237,977	1,472,347,412
Prepaid Expenses		112,510,801	62,906,127

Non-Current Assets		2,745,769,796	2,355,390,916
Other Receivables
Due From Third Parties		207,688,320	74,814,001
Property, Plant and Equipment	7	600,346,662	639,905,595
Right of Use Assets	8	1,071,739,113	850,929,914
Intangible Assets
Goodwill	10	482,479,139	482,479,139
Other Intangible Assets	9	72,579,720	56,125,455
Prepaid Expenses		2,956,463	5,796,414
Deferred Tax Assets	23	307,980,379	245,340,398
TOTAL ASSETS		7,387,531,927	4,917,909,338

The accompanying notes form an integral part of these condensed financial statements.

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