According to the consolidated financial statements belonging to the accounting period of 01.01.2020-31.12.2020 prepared in accordance with the International Financial Reporting Standards within the framework of the provisions of the Communiqué of the CMB Serial: II, and Number: 14.1 and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş., net loss for the period is TL 5.588.000.000. On the other hand, according to the legal books (under the provisions of Turkish Tax Procedure Law, due to the differences between Turkish Accounting standards and IFRS standards) the net loss of the period is TL 17.339.310.713 and previous years' loss account has a balance of TL 16.345.436.976. The following resolution will be submitted to the approval of the General Assembly:
The loss amount according to the legal books will be transferred to previous years' loss account. As there will not be any distributable profit (according to the legal books), the net loss of TL 5.588.000.000 (according to IFRS) will be transferred to the previous years' profit account. Attached you may find the 2020 Profit Distribution Table.