[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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Forward Looking Evaluations
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On the 4th March 2020, Board of Directors decided to grant authority Haluk Dortluoğlu, Executive Committee Member and CFO, to disclose to the public the expectations of the Company for 2020 and the information regarding the reasons of the differences, in case the material differences occur between the expectations and the actuals.

In accordance with this decision, expectations for the year 2020 is listed as follows;


Sales growth                                                     23% (+- 2)

EBITDA Margin (*)                                            5,0% (+- 0,5)

Capital Expenditures                                         1.000 million TL


(*) 2020 EBITDA margın target does not reflect IFRS 16 – lease standards possible effects. With IFRS 16 impact, the targets correspond 7,5% (+-50 bps).



In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.