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1 January-
1 January-
Notes
31 December 2014
31 December 2013
Net sales
22
4,498,949,731
4,141,239,966
Cost of goods sold and services provided
23
(3,978,090,357)
(3,641,025,134)
Gross profit
520,859,374
500,214,832
Selling, general and administrative expenses
24
(298,591,319)
(286,293,404)
Other operating (expense)/income, net
27
7,068,228
45,770,271
Financial income
28
18,525,845
16,860,586
Financial expense
28
(100,619,502)
(85,955,553)
Share of loss of a joint venture
30
(13,647,526)
(20,125,604)
Translation gain/(loss)
(1,312,973)
(4,297,528)
Profit before tax
132,282,127
166,173,600
Taxation on income
(34,194,216)
(61,125,288)
- Current (statutory)
17
(38,960,729)
(31,822,746)
- Deferred
17
4,766,513
(29,302,542)
Profit for the year from continuing operations
98,087,911
105,048,312
Loss for the year from discontinued operations
21
-
-
Net profit for the year
98,087,911
105,048,312
Other comprehensive income :
Items that will not be reclassified subsequently to profit or loss:
- Gain on revaluation of property, plant and equipment net-off tax
200,793,342
13,120,876
- Actuarial gain/(loss) net off tax
234,740
(1,068,270)
Items that may be reclassified subsequently to profit or loss:
- Loss/(gain) on cash flow hedge instruments net-off tax
692,809
1,133,025
- Currency translation reserve
(33,276,969)
3,834,621
Total comprehensive income for the year
266,531,833
122,068,564
Net profit for the year
Attributable to non-controlling interests
64,975,929
51,377,334
Attributable to equity holders of parent
33,111,982
53,670,978
98,087,911
105,048,312
Total comprehensive income for the year
Attributable to non-controlling interests
151,912,603
64,147,373
Attributable to equity holders of parent
114,619,230
57,921,191
266,531,833
122,068,564
BORUSAN HOLDING A.Ş. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2014
(Currency - US Dollars (“USD”) unless otherwise indicated)
The accompanying policies and explanatory notes on pages 88 through 152 form an integral part of the consolidated financial statements.