Ethiopian Trading Businesses Corporation
Fiscal Year 2013 EC (2021/2022 GC)
Revenue
ETB 4.5B
Net Profit
ETB 60.0M
Total Assets
ETB 8.2B
Total Equity
ETB 2.1B
Profit Breakdown
Key income statement items
Asset Composition
Breakdown of total assets
Statement of Profit or Loss and Other Comprehensive Income
FY 2013 EC
| Item | Amount (ETB) |
|---|---|
| Revenue | |
| Sales Revenue | 4,455,744,750 |
| Rent and Other Fees Revenue | 47,314,590 |
| Total Revenue | 4,503,059,340 |
| Cost of Sales | |
| Cost of Sales | -3,970,910,190 |
| Gross Profit | 532,149,150 |
| Operating Expenses | |
| Other Income/Expenses | 51,258,140 |
| Selling and distribution cost | -34,310,050 |
| Administrative and General Expenses | -6,536,170 |
| Expected credit loss | -368,721,610 |
| Total Operating Expenses | -409,567,830 |
| Income from Operation | 173,839,460 |
| Finance and Tax | |
| Interest and Bank Service Charges | -102,890,140 |
| Gain/Loss on Exchange Rate | 13,368,460 |
| Profit before tax | 84,317,780 |
| Profit tax for the period | -24,274,370 |
| Profit after tax | 60,043,410 |
| Other Comprehensive Income | |
| Actuarial Gain/Loss | 0 |
| Deferred Tax Income/Loss | 2,654,110 |
| Total comprehensive income | 62,697,520 |
Statement of Financial Position
As at end of FY 2013 EC
| Item | Amount (ETB) |
|---|---|
| Non-Current Assets | |
| Property, Plant and Equipment | 2,172,301,360 |
| Land Use Right | 1,285,952,820 |
| Right-of-use Land | 2,199,190 |
| Intangible Asset | 5,129,990 |
| Deferred Tax Asset | 22,235,110 |
| Total Non-Current Assets | 3,487,818,470 |
| Current Assets | |
| Stock in Hand and In-Transit | 1,567,907,820 |
| Trade and Other Debtors | 308,649,100 |
| Advance, Prepayment and Deposits | 146,296,200 |
| Cash and Bank Balance | 2,677,899,130 |
| Total Current Assets | 4,700,752,160 |
| Total Assets | |
| Total Assets | 8,188,570,630 |
| Equity | |
| Paid up Capital | 959,100,000 |
| Non-distributable Reserve | 1,879,009,470 |
| Legal Reserve | 3,134,880 |
| Retained Earnings | -701,459,320 |
| Total Equity | 2,139,785,030 |
| Non-Current Liabilities | |
| Long Term Loan | 414,360,190 |
| Long Term Lease Obligation | 2,372,340 |
| Severance Payable | 4,635,160 |
| Deferred Tax Liability | 449,736,460 |
| Total Non-Current Liabilities | 870,253,850 |
| Current Liabilities | |
| Trade and Other Payables | 3,993,691,430 |
| Provision for Business Income Tax | 8,821,840 |
| Annual Leave Payable | 33,509,420 |
| Current Maturity of Long Term Loan | 451,761,410 |
| Bank Overdraft | 111,166,440 |
| Total Current Liabilities | 5,178,531,750 |
| Total Liabilities and Equity | |
| Total Liabilities | 6,048,785,600 |
| Total Equity and Liabilities | 8,188,570,630 |
Cash Flow Statement
Not available for this year.
Audit Findings
#1 Trade receivables include approximately Birr 11,414,787,000 in 'Suspense' accounts that do not comply with the IFRS definition of an asset.
Trade receivables include approximately Birr 11,414,787,000 in 'Suspense' accounts that do not comply with the IFRS definition of an asset.
Trade receivables include approximately Birr 11,414,787,000 in 'Suspense' accounts that do not comply with the IFRS definition of an asset.
Amount: ETB 11.4B
#2 Abnormal waste calculation uses a formula in the process account; unable to determine the cost of sales structure as required by IAS 2.
Abnormal waste calculation uses a formula in the process account; unable to determine the cost of sales structure as required by IAS 2.
Abnormal waste calculation uses a formula in the process account; unable to determine the cost of sales structure as required by IAS 2.
Extracted from audited financial statements via OCR. Figures in Ethiopian Birr (originally reported in Birr'000).