Ethiopian Pulp & Paper Share Company
Fiscal Year 2017 EC (2025/2026 GC)
Revenue
ETB 148.3M
Net Profit
ETB 6.7M
Total Assets
ETB 500.2M
Total Equity
ETB 333.9M
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 2017 EC
| Item | Amount (ETB) |
|---|---|
| Revenue | |
| Sales | 148,295,017 |
| Cost of goods sold | -114,816,692 |
| Gross operating profit | 33,478,326 |
| Operating Income | |
| Other income | 18,999,671 |
| Expenses | |
| Administration | -26,817,768 |
| Selling and distribution | -6,111,461 |
| Financial charges | -5,794,259 |
| Board & auditors' fee | -521,585 |
| Profit | |
| Profit/(Loss) before taxation | 13,232,924 |
| Provision for taxation | -6,542,220 |
| Profit/loss after taxation | 6,690,704 |
| Transfer to legal reserve 5% | -334,535 |
| Net profit/(loss) after taxation | 6,356,169 |
| Other Comprehensive Income | |
| Amortized interest on government bond | 39,330 |
| Deferred tax income/expense | 2,197,408 |
| Total comprehensive income for the year net of tax | 8,592,907 |
Statement of Financial Position
As at end of FY 2017 EC
| Item | Amount (ETB) |
|---|---|
| Non-Current Assets | |
| Property, plant & equipment | 264,978,028 |
| Government bond (investment) | 319,863 |
| Total non-current assets | 265,297,891 |
| Current Assets | |
| Stock | 205,004,938 |
| Trade and other receivable | 19,713,494 |
| Withhold tax in excess of profit tax | 1,572,915 |
| Cash and bank balances | 8,609,763 |
| Total current assets | 234,901,111 |
| Total Assets | |
| Total assets | 500,199,002 |
| Equity | |
| Authorized and paid up capital | 165,801,312 |
| First time IFRS adoption revaluation reserve | 192,906,436 |
| Legal reserve | 2,334,535 |
| Retained earnings | -27,105,414 |
| Shareholders' funds | 333,936,869 |
| Current Liabilities | |
| Trades and other payables | 58,363,338 |
| Bank overdraft | 27,824,443 |
| Annual leave pay accrued | 2,777,505 |
| Profit tax payable | 3,320,903 |
| Total current liabilities | 92,286,189 |
| Non-Current Liabilities | |
| Deferred tax liabilities | 68,081,195 |
| Severance payable | 2,268,251 |
| Long term loan | 3,626,498 |
| Total non-current liabilities | 73,975,945 |
| Total Liabilities & Equity | |
| Total liabilities | 166,262,134 |
| Total equity and liabilities | 500,199,002 |
Cash Flow Statement
FY 2017 EC
| Item | Amount (ETB) |
|---|---|
| Operating Activities | |
| Profit before tax | 13,232,924 |
| Depreciation | 13,073,278 |
| Finance cost recognized in profit or loss | 5,794,259 |
| Adjustment of retained earning and WHT receivable | -1,572,541 |
| Ethiopian Electric Utility back pay | -6,704,151 |
| Decrease/(increase) in stock | 1,971,861 |
| Decrease/(increase) in debtors | 2,833,218 |
| Increase/(decrease) in creditors | 15,293,246 |
| Increase/(decrease) in employee benefits | -54,723 |
| Cash generated from operations | 50,571,521 |
| Interest paid | -5,794,259 |
| Withhold tax, profit tax reconciled | -2,876,112 |
| Net cash from operating activities | 35,196,999 |
| Investing Activities | |
| Payment for purchase of property, plant & equipment | -10,029,432 |
| Net cash from investing activities | -10,029,432 |
| Financing Activities | |
| Medium term loan repaid | -7,747,981 |
| Decrease/increase on bank overdraft | -11,828,499 |
| Net cash from financing activities | -19,576,480 |
| Net Change in Cash | 5,591,088 |
| Closing Cash & Equivalents | -19,214,679 |
Extracted from audited financial statements via OCR. Figures in Ethiopian Birr.