134 / 147
139
28. FINANCIAL (EXPENSE) / INCOME, net
29. ACQUISTION / DISPOSAL OF SUBSIDIARY
As of 30 June 2014, the Group disposed 100% of the shares of Başkent.
(*) Other financial expense mainly comprises foreign exchange losses on loans, factoring expenses, letter of guarantee expenses, bank and credit card commissions, certain bank
expenses paid for the loans obtained and other bank expenses.
30 June
2014
Book value of net assets disposed
Current assets
Other current assets
702,587
Non-current assets
Property, plant and equipment
2,367,861
Intangible asset
1,299,037
Previously recognised impairment reserve
(4,189,804)
Net assets disposed
179,681
Consideration received in cash and cash equivalents
7,100,000
Gain on disposal (Note 27)
6,920,319
1 January -
1 January -
31 December 2014
31 December 2013
Financial income:
Interest income
7,236,761
8,339,076
Due date income, net
8,554,026
6,725,580
Other financial income
2,735,058
1,795,930
Total financial income
18,525,845
16,860,586
Financial expense:
Interest expense
(89,542,801)
(76,118,363)
Other financial expense (*)
(11,076,701)
(9,837,190)
Total financial expense
(100,619,502)
(85,955,553)
Financial expense, net
(82,093,657)
(69,094,967)
BORUSAN HOLDING A.Ş. AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014
(Currency - US Dollars (“USD”) unless otherwise indicated)