Ethiopian Postal Service Enterprise

Fiscal Year 2014 EC (2022/2023 GC)

Qualified

All Years

Download Original Audit Report FY 2013 FY 2015

Revenue

ETB 870.1M

Net Profit

ETB 135.8M

Total Assets

ETB 1.8B

Total Equity

ETB 636.9M

Cash Flow Activities

Net cash from each activity

Asset Composition

Breakdown of total assets

Income Statement

Not available for this year.

Statement of Financial Position

As at end of FY 2014 EC

Item	Amount (ETB)
Non-Current Assets
Property, plant and equipment	541,414,280
Investment property	329,186,425
Intangible assets	16,851,642
Right-of-use assets	1,373,642
Deferred tax asset	13,179,291
Total non-current assets	902,005,281
Current Assets
Inventories	61,949,515
Other assets	20,397,443
Trade and other receivables	393,087,357
Cash and cash equivalents	385,285,140
Total current assets	860,719,455
Total Assets
Total assets	1,762,724,736
Non-Current Liabilities
Defined benefit liability	39,559,679
Lease liability	1,171,218
Grants	7,709,624
Deferred tax liability	109,371,807
Retention payable	9,275,444
Total non-current liabilities	167,087,772
Current Liabilities
Trade and other payables	825,586,581
Accrued annual leave	10,606,595
Lease liability	108,909
Taxes and other payables	73,540,303
Current income tax liability	48,858,297
Total current liabilities	958,700,685
Total Liabilities
Total liabilities	1,125,788,457
Equity
Paid-up capital	109,097,601
Legal reserve	18,013,986
Revaluation reserve	247,947,566
Retained earnings	261,877,126
Total equity	636,936,278

Cash Flow Statement

FY 2014 EC

Item	Amount (ETB)
Operating Activities
Net profit	115,792,694
Income tax paid	-18,960,089
Net cash from operating activities	96,832,605
Investing Activities
Purchase of property, plant and equipment	-29,221,715
Purchase of intangible assets	-319,600
Purchase of investment property	-7,527,697
Proceeds from sale of PPE	8,333,133
Net cash from investing activities	-29,541,315
Financing Activities
Net cash from financing activities	—
Net Change in Cash	67,291,291
Closing Cash & Equivalents	385,285,140

Audit Findings

#1

No sufficient documentation as to whether impairment assessment was performed for property, plant and equipment (IAS 36 / IFRS).

#2

Trade and other receivables include long-outstanding balances of Birr 98,917,719 with expected credit loss of Birr 52,158,572; confirmation responses not obtained for Birr 297,801,071 (Birr 86,267,436 local and Birr 211,533,634 foreign).

Amount: ETB 98.9M

#3

Trade and other payables include long-outstanding balances of Birr 4,484,249; confirmation responses not obtained for Birr 364,036,320 (Birr 229,937,871 foreign and Birr 134,098,449 local).

Amount: ETB 4.5M

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