Ethiopian Engineering Corporation
Fiscal Year 2015 EC (2023/2024 GC)
Revenue
ETB 2.6B
Net Profit
ETB 197.4M
Total Assets
ETB 3.2B
Total Equity
ETB 1.4B
Profit Breakdown
Key income statement items
Cash Flow Activities
Net cash from each activity
Asset Composition
Breakdown of total assets
Statement of Profit or Loss and Other Comprehensive Income
FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Revenue | |
| Revenue | 2,602,869,709 |
| Cost of sales | -1,866,507,786 |
| Gross profit | 736,361,923 |
| Other Income | |
| Other income | 26,600,129 |
| Operating Expenses | |
| Administration Expense | -450,862,590 |
| Provision for Uncollectable receivable | -22,464,112 |
| Total Expenses | -473,326,702 |
| Finance and Tax | |
| Profit before tax | 289,635,350 |
| Tax expense | -92,244,009 |
| Profit for the year | 197,391,342 |
Statement of Financial Position
As at end of FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Non-Current Assets | |
| Property, plant and equipment | 728,947,579 |
| Construction in Progress | 38,507,269 |
| Right of Use Asset | 12,704,442 |
| Intangible Asset | 5,326,035 |
| Government securities | 468,025 |
| Deferred tax Assets | 48,165,101 |
| Total Non-Current Assets | 834,118,451 |
| Current Assets | |
| Inventory | 313,714,639 |
| Trade receivable | 1,326,604,695 |
| Contract asset | 218,482,106 |
| Other Receivables | 213,334,646 |
| Other Tax Recoverable | 36,053,034 |
| Cash and cash equivalents | 267,991,621 |
| Total Current Assets | 2,376,180,741 |
| Total Assets | |
| Total Assets | 3,210,299,192 |
| Current Liabilities | |
| Contract Liabilities | 108,463,041 |
| Other Payables | 1,230,390,106 |
| Value added tax Payable | 13,293,295 |
| Income tax | 82,058,635 |
| Dividend Payable | 234,809,745 |
| Employee benefit payable | 52,433,191 |
| Total Current Liabilities | 1,721,448,013 |
| Non-Current Liabilities | |
| Long term employee benefit payable | 25,580,699 |
| Lease Liability | 9,800,570 |
| Deferred tax liability | 60,429,580 |
| Total Non-Current Liabilities | 95,810,849 |
| Total Liabilities and Equity | |
| Total Liabilities | 1,817,258,862 |
| Equity | |
| Paid-up Capital | 1,114,274,782 |
| Legal Reserve | 58,659,350 |
| Retained Earnings | 214,600,345 |
| Equity in Excess of Paid up capital | 5,505,853 |
| Total Equity | 1,393,040,330 |
| Total Liabilities and Equity | 3,210,299,192 |
Cash Flow Statement
FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Operating Activities | |
| Profit before tax | 289,635,350 |
| Depreciation & Amortization | 41,754,343 |
| Gain From Foreign Exchange rate change | -1,041,334 |
| Annual Leave Provision | 14,868,135 |
| Long term Employee Benefit | 7,186,316 |
| Provision for obsolete stock | 18,424 |
| Provision for Expected Credit loss | 22,464,112 |
| Operating cash before working capital changes | 374,885,345 |
| (Increase) Decrease in inventory | -250,407,020 |
| (Increase) Decrease in Trade receivable & Other receivables | -810,567,233 |
| Increase (Decrease) in Lease liability | -362,984 |
| Increase (Decrease) in contract liability & Other payables | 888,215,747 |
| Cash generated from operation | 201,763,856 |
| Income tax Paid | -81,085,232 |
| Interest recognized in profit or loss | -1,252,141 |
| Net Cash inflow/(out flow) from operating activities | 119,426,483 |
| Investing Activities | |
| Purchase of Plant Property & Equipment | -170,871,001 |
| Purchase of Materials for construction | -23,671,780 |
| Net cash outflow from investing activities | -194,542,781 |
| Financing Activities | |
| Proceeds from redemption of Bond | 0 |
| Proceeds from Gain on Foreign Exchange rate change | 1,041,334 |
| Interest received | 1,252,141 |
| Net cash (outflow)/inflow from financing activities | 2,293,475 |
| Net Change in Cash | -72,822,823 |
| Closing Cash & Equivalents | 267,991,621 |
Extracted from audited financial statements via OCR. Figures in Ethiopian Birr.