Ethiopian Shipping and Logistics Services Enterprise
Fiscal Year 2015 EC (2023/2024 GC)
Revenue
ETB 43.3B
Net Profit
ETB 6.7B
Total Assets
ETB 64.0B
Total Equity
ETB 23.9B
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 for the Year Ended 30 Sene 2015
FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Revenue | |
| Revenue from Contracts with Customers | 43,303,148,000 |
| Direct Costs | -32,510,427,000 |
| Gross Profit | 10,792,721,000 |
| Operating Expenses and Income | |
| Administrative Expenses | -1,703,428,000 |
| Net Impairment Losses on Financial and Contract Assets | -938,684,000 |
| Foreign Currency Exchange Rate Gains | 301,819,000 |
| Other Income | 1,149,860,000 |
| Operating Profit | 9,602,289,000 |
| Profit | |
| Finance Costs | -813,366,000 |
| Profit Before Income Tax | 8,788,923,000 |
| Income Tax Expense | -2,043,907,000 |
| Profit After Tax | 6,745,015,000 |
| Other Comprehensive Income | |
| Remeasurement Gain/(Loss) on Retirement Benefits | 39,342,000 |
| Deferred Tax on Remeasurement | -11,803,000 |
| Net OCI (Will Not Be Reclassified) | 27,539,000 |
| Exchange Differences on Translating Foreign Operations | 77,949,000 |
| Income Tax on Translation | -23,385,000 |
| Net OCI (Will Be Reclassified) | 54,564,000 |
| Total Other Comprehensive Income | 82,104,000 |
| Total Comprehensive Income | 6,827,120,000 |
Statement of Financial Position as at 30 Sene 2015
As at end of FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Non-Current Assets | |
| Property, Plant and Equipment | 17,679,771,000 |
| Right of Use Asset | 5,698,000 |
| Investment Property | 790,000 |
| Intangible Assets | 254,626,000 |
| Equity Investments | — |
| Total Non-Current Assets | 17,940,886,000 |
| Current Assets | |
| Inventories | 1,725,777,000 |
| Other Assets | 4,557,879,000 |
| Trade and Other Receivables | 10,100,714,000 |
| Investment in Foreign Branch | 1,000,000 |
| Contract Assets | 158,826,000 |
| Investment Securities Held at Amortized Cost | 2,000,000 |
| Cash and Cash Equivalents | 29,495,750,000 |
| Total Current Assets | 46,041,949,000 |
| Total Assets | |
| Total Assets | 63,982,834,000 |
| Equity | |
| Capital | 20,000,000,000 |
| Legal Reserve | 2,021,162,000 |
| Other Reserves (Remeasurement Difference on DBO) | 62,531,000 |
| Other Reserves (Foreign Currency Exchange Rate Difference on Translation) | 569,358,000 |
| Revaluation Reserve | 1,242,109,000 |
| Retained Earnings | 0 |
| Total Equity | 23,895,160,000 |
| Non-Current Liabilities | |
| Deferred Tax Liabilities | 1,024,687,000 |
| Lease Obligation | 2,916,000 |
| Investment in Foreign Branch | — |
| Defined Benefit Obligations | 73,520,000 |
| Total Non-Current Liabilities | 1,101,122,000 |
| Current Liabilities | |
| Borrowings | — |
| Trade and Other Payables | 31,244,273,000 |
| Contract Liabilities | 462,074,000 |
| Intersectoral Receivables | 6,805,000 |
| Provisions | 22,108,000 |
| Defined Benefit Obligations | 5,024,000 |
| Current Tax Liabilities | 7,246,468,000 |
| Total Current Liabilities | 38,986,552,000 |
| Total Liabilities and Equity | |
| Total Liabilities | 40,087,674,000 |
| Total Equity and Liabilities | 63,982,834,000 |
Cash Flow Statement
FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Operating Activities | |
| Cash Generated from Operations | 12,533,768,000 |
| Interest Paid | — |
| Income Tax Paid | -1,695,316,000 |
| Net Cash from Operating Activities | 10,838,451,000 |
| Investing Activities | |
| Purchase of Intangible Assets | -84,129,000 |
| Purchase of Property, Plant and Equipment | -4,245,874,000 |
| Proceeds from Disposal of Property, Plant and Equipment | 293,291,000 |
| Net Cash Used in Investing Activities | -4,036,712,000 |
| Financing Activities | |
| Lease Payment | -378,000 |
| Dividend Paid | -1,919,464,000 |
| Principal Repayments of Borrowings | — |
| Net Cash Used in Financing Activities | -1,919,842,000 |
| Net Change in Cash | 4,881,897,000 |
| Closing Cash & Equivalents | 29,495,750,000 |
Audit Findings
#1 Trade and other receivables/payables include Birr 1,161,292,000 receivable from the Enterprise itself and Birr 926,109,000 payable to itself, plus long outstanding balances of Birr 2,214,592,000. Auditors unable to confirm correct statement.
Trade and other receivables/payables include Birr 1,161,292,000 receivable from the Enterprise itself and Birr 926,109,000 payable to itself, plus long outstanding balances of Birr 2,214,592,000. Auditors unable to confirm correct statement.
Trade and other receivables/payables include Birr 1,161,292,000 receivable from the Enterprise itself and Birr 926,109,000 payable to itself, plus long outstanding balances of Birr 2,214,592,000. Auditors unable to confirm correct statement.
Amount: ETB 2.2B
#2 Cash at bank of Birr 29,567,934,000 does not agree with bank records. Insufficient documentary support for reconciling items. Unable to confirm cash balance is correctly stated.
Cash at bank of Birr 29,567,934,000 does not agree with bank records. Insufficient documentary support for reconciling items. Unable to confirm cash balance is correctly stated.
Cash at bank of Birr 29,567,934,000 does not agree with bank records. Insufficient documentary support for reconciling items. Unable to confirm cash balance is correctly stated.
Amount: ETB 29.6B
Extracted from audited financial statements via OCR. Figures in Ethiopian Birr (originally reported in Birr'000).