Ethiopian Electric Utility
Fiscal Year 2014 EC (2022/2023 GC)
Revenue
ETB 23.9B
Net Profit
ETB 2.6B
Total Assets
ETB 89.5B
Total Equity
ETB 66.3B
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 2014 EC
| Item | Amount (ETB) |
|---|---|
| Revenue & Cost of Sales | |
| Revenue | 23,880,409,850 |
| Cost of sales (Power, Distribution, Substation and Transmission) | -18,299,109,180 |
| Gross profit | 5,581,300,670 |
| Operating Income & Expenses | |
| Other operating income | 2,322,389,450 |
| Administration expense | -4,209,685,734 |
| Other operating expense | 179,845,471 |
| Impairment allowance | -563,663,515 |
| Operating profit | 3,310,186,342 |
| Finance & Tax | |
| Finance costs/charges | -720,296,328 |
| Profit before tax | 2,589,890,014 |
| Profit for the year | 2,589,890,014 |
| Remeasurement gain on retirement benefits obligations | 302,982,000 |
| Total comprehensive income for the year | 2,892,872,014 |
Statement of Financial Position
As at end of FY 2014 EC
| Item | Amount (ETB) |
|---|---|
| Non-Current Assets | |
| Property, plant and equipment | 44,764,057,539 |
| Forest assets | 297,606,087 |
| Intangible Asset | 895,494,829 |
| Right use of asset - Office | 133,503,580 |
| Advance and Prepayments | 2,427,931,026 |
| Investment | 20,596,186 |
| Total non-current assets | 48,539,189,247 |
| Current Assets | |
| Cash and cash equivalents | 24,845,344,071 |
| Trade receivables | 4,803,735,803 |
| Other receivable | 171,218,329 |
| Inventories | 11,182,178,130 |
| Total current assets | 41,002,476,333 |
| Total | |
| Total assets | 89,541,665,580 |
| Equity | |
| Paid up capital | 49,840,885,261 |
| Legal reserve | 313,733,473 |
| Retained earnings | 2,460,395,514 |
| Grant and contribution | 2,321,703,345 |
| Other Reserve | 252,639,280 |
| Reserve for excess of deemed cost over book value | 11,123,771,881 |
| Total equity | 66,313,128,754 |
| Non-Current Liabilities | |
| Lease Liability | 106,132,566 |
| Customer Deposit | 1,041,998,163 |
| Long term loans | 9,418,183,487 |
| Suppliers Credit | 821,299,325 |
| Contractors Retention | 1,294,845,015 |
| Post Employment benefit liabilities | 695,135,432 |
| Contract liabilities | 5,550,974,549 |
| Total non-current liabilities | 18,928,568,537 |
| Current Liabilities | |
| Current portion of Lease Liability | 13,923,055 |
| Trade and other payables | 3,724,065,797 |
| Other tax obligations | 64,094,680 |
| Contract liabilities - Prepaid Cards | 250,214,767 |
| Accruals and Provision | 247,669,990 |
| Total current liabilities | 4,299,968,289 |
| Total Liabilities & Equity | |
| Total liabilities | 23,228,536,826 |
| Total equity and liabilities | 89,541,665,580 |
Cash Flow Statement
FY 2014 EC
| Item | Amount (ETB) |
|---|---|
| Operating Activities | |
| Profit before tax | 2,589,890,014 |
| Depreciation and impairment of property, plant and equipment | 3,820,181,985 |
| Amortization of the right use of assets | 41,060,849 |
| Amortization of intangible assets | 47,730,992 |
| Impairment of financial asset | 563,663,515 |
| Current service cost | 68,171,614 |
| Interest cost | 108,899,000 |
| Gain in fair value measurement of forest asset | -31,132,873 |
| Concessional loan discount (income) | -1,378,546,857 |
| Proceeds from the disposal of Property Plant & Equipment | -33,211,401 |
| Interest expense | 611,397,328 |
| Foreign exchange loss | 802,534,862 |
| Decrease in trade, other receivables | 1,575,013,839 |
| Increase in advance and prepayment | -53,574,983 |
| Increase in inventories | -1,988,031,962 |
| Decrease in trade and other payables | -1,361,922,705 |
| Increase in contract liability | 2,724,432,162 |
| Increase in customer Deposit | 256,760,253 |
| Increase in contractors retention | 440,730,775 |
| Interest paid | -611,397,328 |
| Net cash flows from operating activities | 8,192,649,080 |
| Investing Activities | |
| Purchase of property, plant and equipment | -5,890,900,479 |
| Proceeds from the disposal of Property Plant & Equipment | 33,211,401 |
| Purchase of intangible asset | -279,249,125 |
| Gain from investment in associate | -2,648,539 |
| Net cash flows used in investing activities | -6,139,586,742 |
| Financing Activities | |
| Proceed from Capital and grant contribution | 2,321,703,345 |
| Proceeds from borrowings (loan and supplier Credit) | 4,123,479,340 |
| Payment for additional leased asset | -52,623,128 |
| Net cash flows from financing activities | 6,392,559,557 |
| Net Change in Cash | 8,445,621,894 |
| Closing Cash & Equivalents | 24,845,344,072 |
Extracted from audited financial statements via OCR. Figures in Ethiopian Birr.