Development & Hotel Company (Hilton Addis)
Fiscal Year 2015 EC (2023/2024 GC)
Revenue
ETB 191.2M
Net Profit
ETB 98.8M
Total Assets
ETB 1.6B
Total Equity
ETB 720.7M
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 for the Year Ended 30 June 2023
FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Income | |
| Revenue (lease income – 75% share of hotel profit) | 189,390,440 |
| Other income | 1,779,225 |
| Total Income | 191,169,665 |
| Expenses | |
| Administration expense | -47,892,606 |
| Board fees | -155,000 |
| Audit fee | -172,500 |
| Total Expenses | -48,220,106 |
| Profit Before Tax | |
| Profit Before Tax | 142,949,559 |
| Income tax expense | -44,148,597 |
| Profit after Tax | 98,800,962 |
| Add: Deferred income | 1,797,358 |
| Total Comprehensive Income | 100,598,320 |
Statement of Financial Position as at 30 June 2023
As at end of FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Non-Current Assets | |
| Property, plant and equipment | 1,145,144,029 |
| Trade receivables – long term | 71,123,696 |
| Total Non-Current Assets | 1,216,267,725 |
| Current Assets | |
| Staff debtor | 3,000 |
| Trade receivables | 114,129,300 |
| Deposit and prepayments | 22,310 |
| Fixed time deposit | 260,410,327 |
| Cash and bank balances | 28,308,844 |
| Total Current Assets | 402,873,781 |
| Total Assets | |
| Total Assets | 1,619,141,506 |
| Capital and Reserves | |
| Capital | 20,228,479 |
| Legal reserve | 4,045,696 |
| General reserve | 970,194 |
| Revaluation reserve | 102,695,040 |
| Retained earnings | 592,792,784 |
| Total Equity and Reserves | 720,732,193 |
| Non-Current Liability | |
| Deferred tax liability | 228,214,463 |
| Total Non-Current Liability | 228,214,463 |
| Current Liabilities | |
| Creditors and accruals | 1,270,047 |
| Profit tax payable | 44,148,644 |
| State dividend | 170,119,169 |
| Industrial development fund | 454,656,990 |
| Total Current Liabilities | 670,194,850 |
| Total Liabilities and Equity | |
| Total Liabilities and Equity | 1,619,141,506 |
Cash Flow Statement
FY 2015 EC
| Item | Amount (ETB) |
|---|---|
| Operating Activities | |
| Profit before taxation | 142,949,559 |
| Income tax paid | -18,722,692 |
| Investment income | -1,778,760 |
| Depreciation of PP&E | 41,836,872 |
| Subtotal | 164,284,979 |
| Increase in trade receivables | -72,342,825 |
| Decrease in trade receivables – long term | 62,778,390 |
| Fixed time deposit (treasury notes redeemed) | 259,948,000 |
| Increase in creditors and accruals | 459,130 |
| Cash generated from operations | 250,842,695 |
| Net Cash from Operating Activities | 415,127,674 |
| Investing Activities | |
| Interest received | 1,778,760 |
| Purchase of property and equipment | -139,814,596 |
| Proceeds from sale of PP&E | 1,203,397 |
| Net Cash used in Investing Activities | -136,832,439 |
| Financing Activities | |
| Dividend paid | -43,616,043 |
| Net Cash used in Financing Activities | -43,616,043 |
| Net Change in Cash | 234,679,192 |
| Closing Cash & Equivalents | 288,719,171 |
Extracted from audited financial statements via OCR. Figures in Ethiopian Birr.