Ethiopian Agricultural Businesses Corporation

Fiscal Year 2012 EC (2020/2021 GC)

Qualified

Revenue

ETB 2.8B

Net Profit

ETB 99.6M

Total Assets

ETB 7.5B

Total Equity

ETB 2.5B

Key income statement items

Breakdown of total assets

FY 2012 EC

Item	Amount (ETB)
Revenue
Operating Revenues	2,758,074,289
Cost of Sales	-2,460,160,399
Gross Operating Profit	297,913,890
Other Income
Other Income	124,383,989
Total Income	422,297,879
Expenses
Selling and Distribution Expense	-81,061,468
General Administration Expenses	-178,183,461
Total Expenses	-259,244,929
Operating Profit
Operating Profit	163,052,950
Finance Cost-net	-1,281,486
Profit Before Tax	161,771,464
Taxation
Provision for Tax	-62,157,714
Profit (loss) for the Year	99,613,750
Other Comprehensive Income
Profit (loss) for the Year	99,613,750
Revaluation of property, plant and equipment	0
Remeasurement gain/(loss) on retirement benefits obligations	-515,030
Deferred tax (liability)/asset on remeasurement gain or loss	154,509
Other comprehensive income, net of tax	-360,521
Total Comprehensive Income	99,253,229

As at end of FY 2012 EC

Item	Amount (ETB)
Non-Current Assets
Property, Plant and Equipment	918,881,113.79
Intangible Assets	4,803,673.41
Long Term Investment	60,000
Deferred Tax Asset	12,901,024.36
Total Non-Current Assets	936,645,811.55
Current Assets
Non-Current Assets Held For Sell	26,783,940.5
Stock and GIT	2,712,367,819.15
Future Crops	7,945,792.85
Trade and Other Receivables	2,238,233,254.26
Cash and Cash Equivalents	1,547,400,552.16
Total Current Assets	6,532,731,358.92
Total Assets
Total Assets	7,469,377,170.47
Equity
Paid up Capital	2,440,000,000
Legal Reserve	14,558,544.52
Retained Earnings	78,438,527.68
Total Equity	2,532,997,072.19
Non-Current Liabilities
Long Term Loan	262,871,654.62
Employee Benefit Obligations	6,111,205.86
Deferred Tax Liability	0
Total Non-Current Liabilities	268,982,860.48
Current Liabilities
Trade and Other Payables	4,602,406,613.88
Inter Branch and Head Office Accounts	-62,448,030.59
Employee Benefit Obligations	40,689,465.16
Provisions for Contingent Liability	38,133,249
Deferred Income	0
Overdraft Facility	0
Provision for Tax	48,615,940.35
Loans Repayable within 12 Months	0
Total Current Liabilities	4,667,397,237.81
Total Liabilities and Equity
Total Liabilities	4,936,380,098.28
Total Equity and Liabilities	7,469,377,170.47

Not available for this year.

#1

Inter branch account showing a balance of Birr 62,448,031 which has not been eliminated on consolidation.

Amount: ETB 62.4M

#2

Trade debtors and other receivables and creditors with debit balances amounting to 1,065,375.25 are long outstanding for more than a year.

Amount: ETB 1.1M

#3

Trade and other payables, and debtors with credit balances of Birr 2,857,936.25 are long outstanding for more than a year.

Amount: ETB 2.9M

#4

Stock of items of Birr 3,645,176.41 is long outstanding for more than a year.

Amount: ETB 3.6M

#5

Trade debtors and other receivables balance include Birr 20,246,622.75 with a total of abnormal balances (credit balances).

Amount: ETB 20.2M

#6

Trade and other payables balance include abnormal balance (Debit balances) amounting to Birr 19,431,759.25.

Amount: ETB 19.4M

#7

Abnormal cash balance (credit balances) amounting to Birr 252,170.21 was observed.

Amount: ETB 252K

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