1. Use the attached income and balance sheet statements to calculate: (a) Liquidity Ratios; (b) Capital Structure Ratios; (c) Asset Management Efficiency Ratios; (d) Profitability Ratios; and (e) Market Value Ratios Consolidated Balance Sheet As al 31 December 2016 Notes 2016 2015 ASSETS Current Assets Cash and cash equivalents Accounts receivable and prepayments Amounts due from related parties Value of work executed in excess of billings Current portion of net investment in finance lease Inventories 4 5 9 6 7 8 275,614 2,026,818 69,516 262,266 20,765 1,485,392 355,424 1,882,036 38,651 284,009 19,904 1,764,507 4,344,531 TOTAL CURRENT ASSETS 4,140,371 Non-Current Assets Property, plant and equipment Investments in associates Available for sale investments Net investments in finance lease Amounts due from a related party Other intangible assets Goodwill 10 11 12 7 9 13 14 1,282,181 88,936 88,346 384,945 33,850 6,016 80,126 1,964,400 6,104,771 1,390,010 93,340 89,496 405,710 33,850 6,397 80,126 TOTAL NON-CURRENT ASSETS 2,098,929 6,443,460 TOTAL ASSETS CURRENT LIABILITIES Accounts payables and accruals Billings in excess of value of work executed Amounts due to related parties Short terin loans Current portion of term loans Provision for zakat and income tax 15 16 9 17 1,058,698 58,288 20,059 2,059,749 141,088 55,421 1,352,771 94,876 21,675 1,956,147 138,350 58,721 18 19 TOTAL CURRENT LIABILITIES 3,393,303 3,622,540 Non-Current Liabilities Term loans Employees' terminal benefits TOTAL NON-CURRENT LIABILITIES 18 20 195,246 327,386 313,338 356,558 522,632 669.896 4.292,436 TOTAL LIABILITIES 3,915,935 SHAREHOLDERS' EQUITY 21 Equity Attributable to the Shareholders of the Company Share capital Statutory reserve Retained earnings Proposed dividends Foreign currency translation reserve 600,000 300,000 1,014,929 60,000 (35,087) 600,000 280.471 955,036 60,000 (10.361) 22 1,939,842 248,994 1,885,146 265,678 Non-Controlling Interests 23 2,188,836 2,151.024 TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 6,104,771 5A3.160 For the year ended 31 December 2016 Notes 2016 SR'000 2015 SROCO REVENUE Sales Contracts revenue Finance lease income 4,003,482 929,492 17,674 4,664.986 805,110 18,499 4,950,648 5,488,595 DIRECT COSTS Cost of sales Contracts costs (3,004,667) (736,731) (3,491,329) (691,983) GROSS PROFIT 1,209,250 1,305,283 EXPENSES Selling and distribution General and administration 24 25 (425,727) (459,681) (438,736) (459,028) INCOME FROM MAIN OPERATIONS 323,842 407,519 26 Other income, net Financial charges Impairment loss on non-current assets 37,784 (95,502) (32,469) 18,051 (68,514) (51,420) 27 233,655 305,636 INCOME BEFORE SHARE IN RESULTS OF ASSOCIATES, NON-CONTROLLING INTERESTS AND ZAKAT AND INCOME TAX 11 (4,404) Share in results of associates INCOME BEFORE NON-CONTROLLING INTERESTS, ZAKAT AND INCOME TAX (3,158) 302,478 229,251 23 14,895 (11,125) Non-controlling interests INCOME BEFORE ZAKAT AND INCOME TAX 244,146 291,353 19 (28,346) Zakat and income tax De-recognition of deferred tax assets (26,932) (16,192) NET INCOME FOR THE YEAR 201,022 263,007 EARNINGS PER SHARE 6.79 Attributable to main operations Attributable to net income Weighted average number of shares outstanding (Thousand shares) 28 28 21 5.40 3.35 60,000 4.39 60,000 For the year ended 31 December 2016 2016 SR000 2015 SR000 OPERATING ACTIVITIES 229,251 302,478 Income before share of non-controlling interests, zakat and income tax Adjustments for: Depreciation Amortisation of other intangible assets Amortisation of prepaid financial charges Impairment loss on non-current assets Obsolete inventory written-off Other intangible assets written-off Employees' terminal benefits, net Financial charges Gains on disposal of property, plant and equipment Share in results of associates 158,849 953 2,736 32,469 10,993 161,381 675 1,385 51,420 (29,172) 95,502 (515) 4,404 14,428 35,627 68,514 (922) 3,158 505,470 638,144 Changes in operating assets and liabilities: Accounts receivable and prepayments Amounts due from related parties Value of work executed in excess of billings Net investment in finance lease Inventories Accounts payables and accruals Billings in excess of value of work executed Amounts due to related parties Cash from operations (160,974) (30,865) 21,743 19,904 268,122 (286,655) (36,588) (1,616) (90,208) 20,172 46,112 19,078 (167,236) 58,458 14,150 (934) 298,541 537,736 Financial charges paid Zakat and income tax paid Net cash from operating activities (95,502) (30,232) 172,807 (68,514) (22,241) 446,981 INVESTING ACTIVITIES Purchase of property, plant and equipment Proceeds from disposal of property, plant and equipment Net movement in amounts due from a related party Addition to other intangible assets (110,450) 2,982 (138,904) 2,129 (572) (574) Net cash used in investing activities (108,040) (137,349) FINANCING ACTIVITIES Net movement in short term loans Net movement in term loans Dividends paid Non-controlling interests, net 103,602 (118,090) (120,000) (1,989) (37,301) (110,075) (120,000 (462) Net cash used in financing activities (136,477) (267,838) (DECREASE INCREASE IN CASH AND CASH EQUIVALENT Cash and cash equivalents at the beginning of the year Net movement in foreign currency translation reserve (71,710) 355,424 (8,100) 41,794 309,721 3,909 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 275,614 355,424 NON-CASH TRANSACTIONS: De-recognition of deferred tax assets Foreign currency translation losses Directors remuneration accrued during the year 16,192 16,626 1,600 2,290 2,000 Consolidated Statement of Changes in Shareholders' Equity For the year ended 31 December 2016 EQUITY ATTRIBUTABLE TO THE SHAREHOLDERS OF THE COMPANY Share capital Statutory reserve Total Retained earnings Proposed dividends Foreign currency translation reserve SR'000 SR'000 SR'000 SR'000 SR'000 SR'000 600,000 254,170 840,330 60,000 Balance at 31 December 2014 (11,980) 1,742,520 263,007 263,007 Net income for the year 26,301 Transfer to statutory reserve (26,301) Dividends paid (note 22) (60,000) (60,000) (120,000) Proposed cash dividends (note 22) (60,000) 60,000 Directors' remuneration (2,000) (2.000) 1,619 1,619 Net movement in foreign currency translation reserve 600,000 280,471 955,036 60,000 (10,361) 1,885,146 201,022 201,022 19,529 (19,529) (60,000) (60,000) (120,000) Balance at 31 December 2015 Net income for the year Transfer to statutory reserve Dividends paid (note 22) Proposed cash dividends (note 22) Directors' remuneration Net movement in foreign currency translation reserve (60,000) 60,000 (1,600) (1,600) (24,726) (24,726) 600,000 300,000 1,014,929 60,000 (35,087) 1,939,842 BALANCE AT 31 DECEMBER 2016