Board of Directors of Vestel Beyaz Eşya Sanayi ve Ticaret Anonim Şirketi made the following resolutions:
Vestel Beyaz Eşya Sanayi ve Ticaret AŞ recorded TL 1,518,592,000 of net profit in its financial statements prepared within the framework of the Communiqué on the Principles of Financial Reporting in Capital Markets numbered II-14.1 and in compliance with the Turkish Accounting Standards/Turkish Financial Reporting Standards and audited by KPMG Bağımsız Denetim ve Serbest Muhasebecilik Mali Müşavirlik AŞ, and TL 1,470,123,914 of net profit in its statutory financial statements prepared in accordance with the Turkish Commercial Code No. 6102 and Tax Procedure Law No. 213.
After setting aside, as per the Paragraph 1 of the Article 519 of the Turkish Commercial Code, the required amount of TL 73,506,196 for the first legal reserves from the net profit of TL 1,470,123,914 recorded in the Company's statutory financial statements prepared in accordance with the Turkish Commercial Code and Tax Procedure Law, the net distributable profit is calculated as TL 1,396,617,718.
After deducting TL 73,506,196, set aside as the first legal reserve, from the net profit of TL 1,518,592,000 recorded in the CMB financial statements of the Company, the net distributable profit is calculated as TL 1,445,085,804. Following the addition of TL 4,787,860 of donations made in the year to the net distributable profit, the first dividend base is calculated as TL 1,449,873,664.
In accordance with the Company's Articles of Association and Dividend Distribution Policy, the first dividend is determined as TL 362,468,416, which is calculated as 25% of the distributable profit based on the CMB financials. After deducting the first dividend of TL 362,468,416 and TL 61,830,886 of first legal reserve from the net distributable profit of TL 1,396,617,718 based on the Turkish Commercial Code and Tax Procedure Law, the second dividend is determined as TL 335,840,443. Accordingly, the Company's Board of Directors resolved to propose the payment of TL 698,308,859 of cash dividends, including the first and second dividends, to its shareholders which corresponds to a gross cash dividend of TL 0.4364 and a net cash dividend of TL 0.3928 per share, on 30 June 2022 and the addition of the remaining amount of TL 636,477,973, after deducting the TL 698,308,859 of gross distributable profit to be paid to the shareholders and the TL 135,337,082 of first legal reserve from the TL 1,470,123,914 of net profit reported in the statutory tax financials to the extraordinary reserves and to submit these proposals to the approval of shareholders at the Annual General Meeting for the year 2021.
Click here for the Dividend Distribution Table.
Vestel Beyaz Eşya Sanayi ve Ticaret AŞ's Board of Directors made the following decisions.
Click here for the Agenda.
JCR Eurasia Rating, has evaluated the "Vestel Beyaz Eşya Sanayi ve Ticaret AŞ" in the high investment-level category and upgraded the Long-Term National Issuer Credit Rating from ‘AA (tr)' to ‘AA+ (tr)' and affirmed the Short-Term National Issuer Credit Rating at ‘J1+ (tr)' with ‘Stable' outlooks. On the other hand, the Long Term International Foreign and Local Currency Issuer Credit Ratings and outlooks were assigned as ‘BB/Stable' as parallel to international ratings and outlooks of Republic of Turkey.
The third coupon payment, amounting to TL 11,205,525.00 on the TL 265,000,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 728 days and with the ISIN Code of TRSVEST62314 was made as of today (March 9, 2022).
Vestel Beyaz Eşya announced sales revenues of TL 16,178 mn (Euro 1,545 mn) and net profit of TL 1,519 mn (Euro 145 mn) in 2021.Click here for FY21 CMB financials.
Vestel Beyaz Eşya Sanayi ve Ticaret AŞ's stand-alone income statement for the period 01.01.2021 - 31.12.2021, which has been submitted to the Tax Authority in accordance with the Tax Procedure Law, can be found in the attachment. The aforementioned income statement is not prepared in accordance with the Capital Markets Board's legislation.
The second coupon payment, amounting to TL 13,034,820.00 on the TL 265,000,000 nominally valued Corporate Bond, which was sold to qualified investors on June 9, 2021 with a maturity of 728 days and with the ISIN Code of TRSVEST62314 was made as of today.
Vestel Beyaz Eşya’s paid-in capital increase from 190 million TL to 1.6 billion TL via a 742% bonus issue and amendment of the Article 6 of the Company's Articles of Association titled “Share Capital” have been registered by Istanbul Trade Registry Office on October 21, 2021. The bonus issue will start on 25.10.2021.
Vestel Beyaz Eşya reported TL 11,268 mn (EUR 1,166 mn) of sales revenues and TL 1,105 mn (EUR 114 mn) of net profit for 9M21.
Click here for the 9M21 CMB financials.
The Capital Markets Board approved issue document regarding the bonus issue of Vestel Beyaz Eşya Sanayi ve Ticaret AŞ is disclosed in attachment.