Ethiopian Agricultural Businesses Corporation

Fiscal Year 2016 EC (2024/2025 GC)

Unmodified

Revenue

ETB 10.7B

Net Profit

ETB 1.2B

Total Assets

ETB 19.8B

Total Equity

ETB 3.8B

Key income statement items

Net cash from each activity

Breakdown of total assets

FY 2016 EC

Item	Amount (ETB)
Revenue
Revenue from Contracts with Customer	10,681,342,380
Cost of Sales	-8,491,443,762
Gross Operating Profit	2,189,898,618
Other Income and Expenses
Other Income	79,407,899
Total	2,269,306,517
Expected Credit Loss	-1,791,178
Cash Impairment Loss	-1,321,766
Selling and Distribution Expense	-144,058,717
General and Administration Expenses	-326,441,880
Total Expenses	-473,613,542
Operating Profit	1,795,692,975
Finance and Other
Finance Cost-net	-16,330,673
Profit Before Tax	1,779,362,302
Profit Tax Expense	-547,808,949
Profit for the Year	1,231,553,353
Other Comprehensive Income
Remeasurement Gain/(Loss) on Retirement Benefit	-5,922,244
Deferred Tax (Liability)/Asset on Remeasurement	1,776,673
Other Comprehensive Income, Net of Tax	-4,145,571
Total Comprehensive Income for the Year	1,227,407,782

As at end of FY 2016 EC

Item	Amount (ETB)
Non-Current Assets
Property, Plant and Equipment	2,060,213,533
Intangible Assets	1,920,027
Right of Use Asset	44,078,157
Total Non-Current Assets	2,106,211,716
Current Assets
Inventories	5,631,863,793
Biological Asset	62,191,435
Contract Asset	0
Trade and Other Receivables	5,146,622,099
Cash and Cash Equivalents	6,847,763,066
Total Current Assets	17,688,440,393
Total Assets
Total Assets	19,794,652,109
Equity
Paid up Capital	3,707,790,061
Other Reserve	-2,091,352
Legal Reserve	139,723,053
Total Equity	3,845,421,762
Non-Current Liabilities
Lease Obligation	25,432,231
Long-term Employee Benefit Obligations	72,290,366
Deferred Tax Liability	158,992,190
Total Non-Current Liabilities	256,714,787
Current Liabilities
Trade and Other Payables	4,564,644,597
Contract Liabilities	10,411,846,879
Short-term Employee Benefit	139,497,812
Provisions for Outstanding Legal Cases	71,362,467
Employee Benefit Obligations - Current Portion	3,051,018
Profit Tax Payable	502,112,787
Total Current Liabilities	15,692,515,560
Total Liabilities and Equity
Total Liabilities	15,949,230,347
Total Equity and Liabilities	19,794,652,109

FY 2016 EC

Item	Amount (ETB)
Operating Activities
Profit Before Income Tax	1,779,362,302
Depreciation and Amortization	192,076,556
Right of Use Amortization	19,645,822
Interest Expense on Lease	3,188,958
Expected Credit Loss	1,791,178
Provision for Outstanding Legal Cases	45,323,094
Loss on Cash Impairment	1,321,766
Gain on Disposal of PPE	-14,280,745
Provision for Inventories	-2,992,550
Employee Benefit Expense	25,345,750
Depreciation of Investment Property	0
Cash Flow from Operations Before Working Capital Changes	2,050,783,131
(Increase)/Decrease in Inventories	3,084,095,456
(Increase)/Decrease in Biological Assets	8,519,415
(Increase)/Decrease in Trade and Other Receivables	-2,227,135,694
(Increase)/Decrease in Contract Assets	315,126,192
Increase/(Decrease) in Trade and Other Payables	-1,127,037,816
Increase/(Decrease) in Contract Liabilities	-3,148,361,459
Cash Generated from Operations	-1,044,010,775
Income Tax Paid	-439,330,831
Employee Benefit Paid	-13,483,648
Net Cash from Operating Activities	-1,496,825,254
Investing Activities
Purchase of Property, Plant and Equipment	-773,750,506
Purchase of Intangible Asset	0
Proceeds from Disposal of PPE	23,765,073
Net Cash Used in Investing Activities	-749,985,433
Financing Activities
Dividend Paid	-376,752,206
Lease Payment	-22,610,745
Capital Contribution	2,988,823,614
Net Cash from Financing Activities	2,589,460,663
Net Change in Cash	342,649,976
Closing Cash & Equivalents	6,847,763,066

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