ERDEMIR2014 ENG

ERDEMİR GRUBU

2014 ANNUAL REPORT

172

EREĞLİ DEMİR VE ÇELİK FABRİKALARI T.A.Ş AND ITS SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

(Amounts are expressed as Turkish Lira (“TRY Thousand”) unless otherwise indicated.)

(Convenience Translation into English of Consolidated Financial Statements Originally Issued in Turkish - See Note 34)

NOTE 30 - NATURE AND LEVEL OF RISKS DERIVED FROM FINANCIAL INSTRUMENTS (cont’d)

Additional information about financial instruments (cont’d)

(f) Foreign currency risk management (cont’d)

Profit/(loss) after capitalization on tangible

assets and before tax and non-controlling interest

Appreciation of

Depreciation of

31 December 2013

foreign currency

1- TRY net asset/liability

(143.458)

143.458

2- Hedged portion from TRY risk (-)

16.981

(16.981)

3- Effect of capitalization (-)

4- TRY net effect (1+2+3)

(126.477)

126.477

5- US Dollars net asset/liability

(26)

6- Hedged portion from US Dollars risk (-)

7- Effect of capitalization (-)

8- US Dollars net effect (5+6+7)

(26)

9- Euro net asset/liability

(30.306)

30.306

10- Hedged portion from Euro risk (-)

16.342

(16.342)

11- Effect of capitalization (-)

12- Euro net effect (9+10+11)

(13.964)

13.964

13- Jap. Yen net asset/liability

(11.714)

11.714

14- Hedged portion from Jap. Yen risk (-)

15- Effect of capitalization (-)

16- Jap. Yen net effect (13+14+15)

(11.714)

11.714

17- Other currencies net asset/liabilities

(133)

133

18- Hedged portion from other currency risk (-)

19- Effect of capitalization (-)

20- Other currencies net effect (17+18+19)

(133)

133

TOTAL (4+8+12+16+20)

(152.314)

152.314