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  "documentTitle": "Sisecam Resources | Results Presentation Deck | 24 slides",
  "authorId": "sisecam-resources",
  "authorName": "Şişecam",
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  "presentationDate": "2024-03-01 00:00:00",
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  "notes": "Provides context on why and how inflation accounting is applied to the company's financial results.",
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      "text": "Turkey has economic conditions that require reporting entities in the country to follow the methodology set out in International Accounting Standards ('IAS') - 29 'Financial Reporting in Hyperinflationary Economies'.",
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      "text": "IAS 29 requires the financial statements of any entity whose functional currency is the currency of a hyperinflationary economy to be restated for changes in the general purchasing power of that currency. Comparative figures for prior period(s) should be restated into the same current measuring unit.",
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      "text": "According to IAS 29.3, hyperinflation is indicated by the characteristics of an economy, which include but are not limited to the followings: The cumulative inflation rate over three years is approaching, or exceeds, 100 percent. The general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency. The general population regards monetary amounts in terms of a relatively stable foreign currency. Pricing of credit compensates for the expected loss of purchasing power, even in short credit periods. Interest rates, wages and prices are linked to a price index",
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      "text": "Please refer to slide 13 of this presentation for Sisecam's unadited key financials without IAS 29 impact.",
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      "text": "Pursuant to the decision dated December 12, 2023, and numbered 10744 by the BRSA, banks, financial leasing, factoring, financing, savings financing, and asset management companies are not subject to inflation adjustments required under TAS-29 in their financial statements as of December 31, 2023.",
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      "text": "Application of IAS-29 inflationary accounting provisions of Sisecam's financial figures is expected to continue until Türkiye's economic conditions no longer met the above stated IAS 29 criteria.",
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      "text": "Pursuant to the Capital Markets Board Decision dated 28.12.2023 and numbered 81/1820, Sisecam is subject to IAS 29 inflationary accounting provisions, starting from its 2023-year end earnings disclosure. Thus, 2023 and comparative 2022 year-end financial results, stated in this presentation, contain Sisecam's audited financial information prepared according to Turkish Financial Reporting Standards by application of IAS-29 inflation accounting provisions. Non-monetary assets and liabilities are restated. Non-monetary items carried at current value are not restated. Monetary items (ie cash, financial assets) are not subject to indexation and thus not restated. All items in P&L are expressed by monthly indexation through consumer price index from the dates when the incomes and expenses accounted and up until the reporting date. Cost of goods sold, depreciation, and deferred tax items are subject to recalculation based on respective restated B/S items.",
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      "text": "Important Notice for Inflation Accounting (IAS 29)",
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