Ethiopian Electric Utility

Fiscal Year 2015 EC (2023/2024 GC)

Unmodified

Revenue

ETB 31.3B

Net Profit

ETB 2.5B

Total Assets

ETB 98.2B

Total Equity

ETB 68.6B

Key income statement items

Net cash from each activity

Breakdown of total assets

FY 2015 EC

Item	Amount (ETB)
Revenue & Cost of Sales
Revenue	31,288,342,172
Cost of sales (Power, Distribution, Substation and Transmission)	-25,828,445,646
Gross profit	5,459,896,527
Operating Income & Expenses
Investment income	3,146,256
Other operating income	2,447,849,439
Administration expense	-4,266,930,296
Other operating expense	54,035,205
Impairment allowance	442,416,209
Operating profit	4,140,413,339
Finance & Tax
Finance costs/charges	-1,663,239,380
Profit before tax	2,477,173,959
Income tax expense	0
Profit for the year	2,477,173,959
Total comprehensive income for the year	2,477,173,959

As at end of FY 2015 EC

Item	Amount (ETB)
Non-Current Assets
Property, plant and equipment	47,871,310,885
Intangible Asset	829,165,395
Right use of asset - Office	194,722,425
Advance and Prepayments	2,327,871,633
Investment	23,742,442
Total non-current assets	51,246,812,780
Current Assets
Cash and cash equivalents	29,164,515,359
Trade receivables	3,332,028,095
Other receivable	253,333,289
Inventories	14,157,096,794
Non-current Assets Held for Sale	9,350,925
Total current assets	46,916,324,462
Total
Total assets	98,163,137,242
Equity
Paid up capital	49,840,885,261
Legal reserve	437,592,171
Retained earnings	4,677,188,688
Contribution	3,329,962,429
Other Reserve	252,639,280
Reserve for excess of deemed cost over book value	10,066,030,781
Total equity	68,604,318,610
Non-Current Liabilities
Lease Liability	163,744,213
Customer Deposit	1,076,449,727
Long term loans	12,307,316,504
Suppliers Credit	862,453,818
Contractors Retention	1,846,559,280
Post Employment benefit liabilities	813,389,432
Contract liabilities	6,217,436,892
Total non-current liabilities	23,287,349,866
Current Liabilities
Current portion of Lease Liability	13,923,055
Trade and other payables	5,380,065,908
Other tax obligations	77,345,303
Contract liabilities - Prepaid Cards	388,202,035
Accruals and Provision	411,931,845
Total current liabilities	6,271,468,766
Total Liabilities & Equity
Total liabilities	29,558,818,632
Total equity and liabilities	98,163,137,242

FY 2015 EC

Item	Amount (ETB)
Operating Activities
Profit before tax	2,477,173,959
Depreciation and impairment of property, plant and equipment	4,062,383,518
Loss on Disposal of Fixed Asset	60,025,912
Amortization of the right use of assets	91,798,925
Amortization of intangible assets	66,329,435
Impairment of financial asset	-490,127,674
Impairment of Advance	14,299,166
Provision for Inventory	33,412,299
Severance Expense (Current service cost & Interest Expense)	118,254,000
Concessional loan discount (income)	-1,181,581,592
Interest expense	1,559,661,380
Foreign exchange loss	492,619,513
Decrease in trade, other receivables	1,879,720,422
Decrease in advance and prepayment	85,760,227
Increase in inventories	-3,008,330,963
Increase in trade and other payables	1,971,500,477
Increase in contract liability	666,462,343
Increase in customer Deposit	34,451,564
Increase in contractors retention	551,714,265
Interest paid	-1,559,661,380
Net cash flows from operating activities	7,925,865,795
Investing Activities
Purchase of property, plant and equipment	-8,135,650,801
Gain from investment in associate	-3,146,256
Net cash flows used in investing activities	-8,138,797,056
Financing Activities
Proceed from Capital and grant contribution	1,008,259,084
Proceeds from borrowings (loan and supplier Credit)	3,619,249,588
Payment for additional leased asset	-95,406,122
Net cash flows from financing activities	4,532,102,550
Net Change in Cash	4,319,171,288
Closing Cash & Equivalents	29,164,515,359

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