Ethiopian Agricultural Businesses Corporation

Fiscal Year 2011 EC (2019/2020 GC)

Qualified

Revenue

ETB 2.3B

Net Profit

ETB 54.7M

Total Assets

ETB 5.6B

Total Equity

ETB 2.4B

Key income statement items

Breakdown of total assets

FY 2011 EC

Item	Amount (ETB)
Revenue
Operating Revenues	2,348,145,478
Cost of Sales	-1,937,082,520
Gross Operating Profit	411,062,957
Operating Expenses
Other Income	92,036,832
Selling and Distribution Expense	-87,161,986
General Administration Expenses	-269,719,486
Total Expenses	-356,881,472
Operating Profit	146,218,318
Finance and Tax
Finance Cost-net	-26,242,396
Profit Before Tax	119,975,922
Provision for Tax	-65,308,348
Profit for the Year	54,667,574
Other Comprehensive Income
Profit for the Year	54,667,574
Revaluation of Property, Plant and Equipment	0
Remeasurement Gain/(Loss) on Retirement Benefits	-96,178
Deferred Tax (Liability)/Asset on Remeasurement Gain or Loss	28,853
Other Comprehensive Income, Net of Tax	-67,324
Total Comprehensive Income	54,600,250

As at end of FY 2011 EC

Item	Amount (ETB)
Non-Current Assets
Property, Plant and Equipment	945,571,110
Intangible Assets	4,948,043
Long Term Investment	60,000
Deferred Tax Asset	11,715,651
Total Non-Current Assets	962,294,805
Current Assets
Non-Current Assets Held For Sell	26,800,180
Stock and GIT	2,217,994,533
Future Crops	4,738,314
Trade and Other Receivables	1,951,397,018
Cash and Cash Equivalents	477,960,427
Total Current Assets	4,678,890,472
Total Assets
Total Assets	5,641,185,277
Equity
Paid up Capital	610,000,000
Legal Reserve	9,577,857
Retained Earnings	1,770,278,655
Total Equity	2,389,856,511
Non-Current Liabilities
Long Term Loan	262,871,655
Employee Benefit Obligations	5,118,464
Deferred Tax Liability	0
Total Non-Current Liabilities	267,990,119
Current Liabilities
Trade and Other Payables	3,115,207,519
Inter Branch and Head Office Accounts	-316,546,258
Employee Benefit Obligations	37,485,547
Provisions for Contingent Liability	34,780,451
Deferred Income	0
Provision for Tax	112,411,386
Total Current Liabilities	2,983,338,645
Total Liabilities and Equity
Total Liabilities	3,251,328,764
Total Equity and Liabilities	5,641,185,277

Not available for this year.

#1

Inter branch account showing a balance of Birr 316,546,258 not eliminated on consolidation

Amount: ETB 316.5M

#2

Trade debtors and other receivables and creditors with debit balances amounting to 57,324,029 are long outstanding for more than a year

Amount: ETB 57.3M

#3

Trade and other payables and debtors with credit balances of Birr 43,093,400 are long outstanding for more than a year

Amount: ETB 43.1M

#4

Trade debtors and other receivables balance includes Birr 1,592,000,819 with abnormal balances (credit balances)

Amount: ETB 1.6B

#5

Trade and other payables balance includes abnormal balance (debit balances) amounting to Birr 957,415,384

Amount: ETB 957.4M

#6

Cash on hand and cash at bank accounts showing abnormal (credit balances) amounting to Birr 3,820,057.62 and Birr 9,324,877.96 respectively

Amount: ETB 13.1M

Extracted from audited financial statements via OCR. Figures in Ethiopian Birr.