Chemical Industry Corporation
Manufactures cement, caustic soda, chemicals, pesticides, and rubber products through five factory branches.
Revenue
ETB 6.0B
FY 2017
Net Profit
ETB 738.4M
Profit
Total Assets
ETB 18.9B
FY 2017
Total Equity
ETB 12.2B
Revenue & Profitability
Revenue, cost of sales, and net profit over time
Balance Sheet
Total assets, liabilities, and equity over time
Audit Opinion Timeline
Key Audit Findings
Basis for qualified opinion from the latest audit report
#1 The Corporation's land and buildings located in Addis Ababa (around Gotera) had been taken over by the government and demolished. Despite the loss of control and absence of future economic benefits, the carrying amounts of Birr 110,868,925.02 and Birr 46,994,807.86 and Birr 8,879,081.23 for the land, buildings, and land improvement costs respectively have been reported in the financial statements. The Corporation was compensated in the form of land the cost of which is yet to be determined.
The Corporation's land and buildings located in Addis Ababa (around Gotera) had been taken over by the government and demolished. Despite the loss of control and absence of future economic benefits, the carrying amounts of Birr 110,868,925.02 and Birr 46,994,807.86 and Birr 8,879,081.23 for the land, buildings, and land improvement costs respectively have been reported in the financial statements. The Corporation was compensated in the form of land the cost of which is yet to be determined.
The Corporation's land and buildings located in Addis Ababa (around Gotera) had been taken over by the government and demolished. Despite the loss of control and absence of future economic benefits, the carrying amounts of Birr 110,868,925.02 and Birr 46,994,807.86 and Birr 8,879,081.23 for the land, buildings, and land improvement costs respectively have been reported in the financial statements. The Corporation was compensated in the form of land the cost of which is yet to be determined.
Financial Summary
All figures in Ethiopian Birr (ETB).
EC filenames: 2015 EC = FY ended 30 June 2023. The Corporation holds land and buildings in Addis Ababa (Gotera area) taken back by the government and demolished — these assets remain on the balance sheet pending compensation determination.