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Consolidated Statement of Cash Flows - TRY (₺)
₺ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Profit for the year from      
Continuing operations ₺ 4,239,620 ₺ 2,504,254 ₺ 2,177,335
Discontinued operations   772,436  
Profit for the year including discontinued operations 4,239,620 3,276,690 2,177,335
Adjustments for:      
Depreciation and impairment of property, plant and equipment and investment properties 2,426,263 2,199,830 1,894,445
Amortization of intangible assets and right of use assets 3,548,516 2,846,735 2,393,529
Net finance expense 901,530 1,442,773 983,881
Fair value adjustments to derivatives (2,016,859) (570,204) (1,719,610)
Income tax expense 387,193 785,630 495,481
(Gain) on sale of property, plant and equipment (23,950) (47,169) (43,727)
Unrealized foreign exchange losses on operating assets 4,384,197 1,832,636 2,954,304
Provisions 1,230,295 920,924 796,520
Share of equity accounted investees 13,775 15,712 87
(Gain) loss on sale of subsidiary 1,387   (110,308)
Adjustments to (earnings) due to disposal of assets held for sale   (772,436)  
Non-cash other adjustments (13,840) (15,557)  
Cash flows from (used in) operations before changes in working capital 15,078,127 11,915,564 9,821,937
Change in trade receivables (618,545) (881,333) 273,110
Change in due from related parties (11,208) 10,025 (5,870)
Change in receivables from financial services 429,950 1,651,180 (69,991)
Change in inventories (25,316) 2,035 (76,883)
Change in other current assets 547,475 (299,790) 53,957
Change in other non-current assets (71,752) (38,112) 142,133
Change in due to related parties 27,484 (33,135) 40,072
Change in trade and other payables 614,418 92,427 (501,980)
Change in other non-current liabilities 739 (8,122) (242,384)
Change in employee benefit obligations (20,850) (36,231) (32,764)
Change in short term contract asset (38,636) (223,146) (711,928)
Change in long term contract asset (117,823) (6,778) (3,513)
Change in deferred revenue 82,254 45,402 54,391
Change in short term contract liability 24,662 34,652 255,756
Change in long term contract liability 22,874 10,292 131,598
Changes in other working capital (543,289) (506,303) (981,764)
Cash generated from operations 15,380,564 11,728,627 8,145,877
Interest paid (1,653,675) (2,090,718) (1,658,308)
Income tax paid (634,094) (611,354) (657,715)
Net cash inflow from operating activities 13,092,795 9,026,555 5,829,854
Cash flows from investing activities:      
Acquisition of property, plant and equipment (3,904,443) (3,195,069) (2,960,648)
Acquisition of intangible assets (3,375,915) (2,821,111) (2,264,912)
Proceeds from sale of property, plant and equipment 99,843 81,192 103,864
(Payments for)/proceeds from advances given for acquisition of property, plant and equipment (501,339) 156,936 (204,817)
Contribution of increase of share capital in joint ventures/associates (76,000) (38,000) (19,500)
Proceeds from sale of subsidiary 1,229 2,219,644 118,528
Cash inflows from financial asset at fair value through other comprehensive income 976,576 84,655  
Cash outflows from financial asset at fair value through other comprehensive income (972,188) (369,591) (39,877)
Payments for financial assets at amortized cost (23,298)    
Interest received 994,899 854,018 731,793
Net cash outflow from investing activities (6,780,636) (3,027,326) (4,535,569)
Cash flows from financing activities:      
Dividends received for treasury share 6,232 7,380 9,399
Proceeds from derivative instruments 2,085,585 1,924,363 1,054,345
Repayments of derivative instruments (866,650) (1,101,876) (710,522)
Proceeds from issues of loans and borrowings 22,983,201 29,060,490 44,341,070
Proceeds from issues of bonds 494,987 311,649 2,188,313
Repayment of borrowings (26,354,532) (31,297,901) (43,987,127)
Repayment of bonds (455,878) (225,794) (191,312)
Dividends paid to shareholders (811,622) (1,010,000) (1,900,000)
Dividends paid to non-controlling interest in subsidiaries (32,856) (125,027) (58,778)
Acquisition of treasury shares (9,994) (9,998) (94,620)
Payments of lease liabilities (1,302,335) (1,215,320) (1,164,879)
Other cash (outflows)/inflows from financing activities (3,951) 204,077 (20,272)
Net cash outflow from financing activities (4,267,813) (3,477,957) (534,383)
Net increase in cash and cash equivalents 2,044,346 2,521,272 759,902
Cash and cash equivalents at 1 January 10,238,715 7,419,239 4,712,333
Effects of exchange rate changes on cash and cash equivalents (422,506) 298,204 1,947,004
Cash and cash equivalents at 31 December ₺ 11,860,555 ₺ 10,238,715 ₺ 7,419,239