Ethio Telecom

Fiscal Year 2017 EC (2025/2026 GC)

Unmodified

All Years

Download Original Audit Report FY 2016

Revenue

ETB 148.1B

Net Profit

ETB 5.8B

Total Assets

ETB 331.2B

Total Equity

ETB 101.7B

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 and Direct Costs
Revenue from contracts with customers	148,050,402,000
Direct costs	-58,131,009,000
Operating expenses	-28,548,881,000
Net impairment losses on financial asset	-2,204,548,000
Other income (expense)	15,279,456,000
EBITDA and Depreciation
Earnings before interest, taxes, depreciation and amortization (EBITDA)	74,445,420,000
Depreciation of property, plant and equipment	-9,410,408,000
Depreciation charge of right of use asset	-515,504,000
Amortization of intangible assets	-1,508,286,000
Depreciation charge of Investment Property	-4,395,000
Total depreciation and amortization	-11,438,593,000
Operating Profit
Operating profit	63,006,827,000
Finance Costs
Finance income	7,630,000
Finance costs	-42,596,825,000
Finance costs - net	-42,589,195,000
Profit and Tax
Profit before income tax	20,417,632,000
Income tax expense	-14,623,223,000
Profit after tax	5,794,409,000
Other Comprehensive Income
Remeasurement gain/(loss) on post employment benefits obligations	-19,573,000
Deferred tax (liability)/asset on remeasurement gain or loss	5,872,000
Other comprehensive income (OCI) net on income tax	-13,701,000
Total comprehensive income for the Year	5,780,708,000

Statement of Financial Position

As at end of FY 2017 EC

Item	Amount (ETB)
Non-Current Assets
Property, plant and equipment	184,343,024,000
Right of use assets	2,219,042,000
Intangible assets	17,440,987,000
Investment Property	204,896,000
Other assets	54,000
Other financial assets at amortised cost	7,101,156,000
Deferred tax Assets	7,946,220,000
Total Non-Current Assets	219,255,379,000
Current Assets
Inventories	25,138,458,000
Other assets	8,471,373,000
Trade receivables	30,544,145,000
Other financial assets at amortised cost	2,826,000
Cash and cash equivalents	47,804,725,000
Total Current Assets	111,961,527,000
Total Assets
Total assets	331,216,906,000
Non-Current Liabilities
Borrowings	19,311,616,000
Provisions	242,471,000
Lease liabilities	1,344,542,000
Grants	419,000
Defined benefit liabilities	1,161,163,000
Total Non-Current Liabilities	22,060,211,000
Current Liabilities
Borrowings	10,516,360,000
Contract liabilities	6,689,699,000
Trade and other payables	164,628,129,000
Provisions	34,443,000
Lease liabilities	496,220,000
Grants	21,000
Defined benefit liabilities	94,017,000
Dividend payable	8,595,748,000
Current income tax	16,369,760,000
Total Current Liabilities	207,424,397,000
Total Liabilities
Total liabilities	229,484,608,000
Equity
Share Capital	100,000,000,000
Retained earnings	-1,835,415,000
Legal reserve	3,541,716,000
Other reserves	25,996,000
Total equity	101,732,297,000
Total Equity and Liabilities
Total equity and liabilities	331,216,906,000

Cash Flow Statement

FY 2017 EC

Item	Amount (ETB)
Operating Activities
Cash generated from operations	136,626,841,000
Interest income received	7,630,000
Interest expense paid	-2,139,155,000
Income tax paid	-12,101,302,000
Net cash inflow from operating activities	122,394,014,000
Investing Activities
Purchase of intangible assets	-1,642,417,000
Purchase of property, plant and equipment	-67,684,015,000
Payment for right of use assets	-3,253,000
Proceeds from sale of property, plant and equipment	80,237,000
Net cash outflow from investing activities	-69,249,448,000
Financing Activities
Repayments of borrowings	-9,499,796,000
Principal elements of lease payments	-598,490,000
Payment of Dividend	-8,026,908,000
Net cash outflow from financing activities	-18,125,194,000
Net Change in Cash	35,019,372,000
Closing Cash & Equivalents	47,804,725,000

Audit Findings

#1

Revenue recognition identified as key audit matter due to risk of differing interpretations of accounting principles and potential improper recognition. Auditors found no concerns after testing.

#2

Net foreign exchange losses of Birr 41,447,047,000 due to Birr devaluation following July 29, 2024 forex reform; 1825% increase over prior year.

Amount: ETB 41.4B

#3

Net impairment losses on financial assets (trade receivables) of Birr 2,204,548,000, up from Birr 232,388,000 in prior year.

Amount: ETB 2.2B

#4

Contingent liabilities from legal actions estimated at approximately Birr 4,969,000 (undiscounted) if adverse decisions occur.

Amount: ETB 5.0M

#5

Prior year retained earnings restated: FY24 dividend payable of Birr 12,643,940,000 and additional profit tax of Birr 919,271,000 recognized as restatement in FY25.

Amount: ETB 13.6B

Extracted from audited financial statements via OCR. Figures in Ethiopian Birr (originally reported in Birr'000).