Abridged interim unaudited financial statements for the period ended September 30, 2019

[ A Read aloud Draw STATEMENT OF PROFIT OR LOSS 9 Months ended Quarter ended Year ended THE GROUP - (MUR'000) Sep 2019 Sep 2018 Sep 2019 Sep 2018 Dec 2018 Unaudited Unaudited Unaudited Unaudited Audited Revenue 2,503,935 2,629,740 596,618 637,429 3,747,479 Earnings before interest, taxation, depreciation and amortisation 400,780 508,846 (63,086) (16,486) 917,038 Depreciation and amortisation (389,574) (386,170) (139,264) (124,669) (457,155) st Operating profit/(loss) 11,206 122,676 (202,350) (141,155) 459,883 16 Finance costs (247,092) (239,550) (88,341) (72,037) (324,294) re Share of results of associates 65,760 60,115 13,969 31,548 120,757 N (Loss )/profit before taxation and pre-opening expenses (170,126) (56,759) (276,722) (181,644) 256,346 Pre-opening expenses Fo (10,739) (20,784) (10,739) (20,784) (14,245) (Loss )/profit before taxation (180,865) (77,543) (287,461) (202,428) 242,101 arr yea Taxation (8,072) (9,163) (3,023) (464) (28,598) Ma (Loss)/profit for the period/year (188,937) (86,706) (290,484) (202,892 213,503 wit Attributable to: 0.1 Owners of the parent (193,195) (97,824) (289,481) (203,717) 199,314 offs Non-controlling interests 4,258 11, 118 (1,003) 825 14, 189 pos in d (188,937) (86,706) (290,484) (202,892) 213,503 (Loss )/earnings per share (MUR) (1.76) (0.89 (2.64) (1.86) 1.82 3 R STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Our their 9 Months ended Quarter ended Year ended the THE GROUP - (MUR'000) Sep 2019 Sep 2018 Sep 2019 Sep 2018 Dec 2018 duri Unaudited Unaudited Unaudited Unaudited Audited form (86,706) (290,484) (202,892) 213,503 rede (Loss )/profit for the period/year (188,937) mar Other comprehensive income for the period/year 50,752 42,931 18,735 (50,338) 249,978 posi Total comprehensive income for the period/year (138,185) (43,775) (271,749) (253,230) 463,481 man Attributable to: 66.2 Owners of the parent (145,054) (55,636) (271,982) (253,329) 448,465 com Non-controlling interests 6,869 11,861 233 99 15,016 Grou (138,185) (43,775) (271,749) (253,230) 463,481 EBIT STATEMENT OF FINANCIAL DOSITION EBITSTATEMENT OF FINANCIAL POSITION EBITDA THE GROUP - (MUR'000) Sep 2019 Sep 2018 Dec 2018 Finance Assets Unaudited Unaudited Audited results 60 milli Non-Current Assets our pro Property, plant and equipment 8,123,794 8,127,107 8,091,359 Loss fo Intangible assets 1,153,576 1, 129,660 1,131,970 account Investments in associates 1,683,722 1,193, 163 1,616,805 Investment in financial assets 545 Fixed assets at amortised cost Operation 53,906 56,286 110,755 Septembe Deferred tax assets 83,408 94,475 82,185 11,098,406 10,601,236 11,033,074 MUR Current Assets 1,321,414 1,417,716 Total Assets 1,255,533 12,353,939 11,922,650 12,450,790 17,000 Equity and Liabilities Owners' interest 5,948,079 5,643,859 6,093,133 15,000 Non-controlling interests 31,130 42, 175 45,330 Total equity 5,979,209 5,686,034 6,138,463 13,000 Non-Current Liabilities Borrowings 4,060,541 4,030,366 3,380,648 11,000 Deferred tax liabilities 60,183 58,184 60,062 Retirement benefit obligations 182,698 186,396 182,702 9,000 4,303,422 4,274,946 3,623,412 Current Liabilities 2,071,308 1,961,670 2,688,915 7,000 Total Liabilities 6,374,730 6,236,616 6,312,327 Total Equity and Liabilities 5,000 12,353,939 11,922,650 12,450,790 Net Asset Value per share (MUR) 54.24 51.47 55.57STATEMENT OF CASH FLOW THE GROUP - (MUR'000) Sep 2019 Sep 2018 Dec 2018 Net cash generated from operating activities Unaudited Unaudited Audited Net cash used in investing activities 178,978 236,602 318,230 Net cash used in financing activities (200,153) (120,392) (164,957) Decrease in cash and cash equivalents (34,304) (188,088) (182,410) Cash and cash equivalents at beginning of the period/year (55,479) (71,878) (29,137) Cash and cash equivalents at end of the period/year (433,990) (404,853) (404,853) (489,469 (476,731) 433,990) STATEMENT OF CHANGES IN EQUITY Attributable to owners of the parent THE GROUP - (MUR'000) Stated capital Other reserves Retained earnings Owners' interest Non-controlling interests Total Balance at January 1, 2019 2,153,395 3,266,313 673,425 6,093,133 45,330 6,138,463 Total comprehensive income for the period 48,141 (193,195) (145,054) 6,869 (138,185) Dividends (21,069) (21,069) Balance at September 30, 2019 2,153,395 3,314,454 480,230 5,948,079 31,130 5,979,209 Balance at January 1, 2018 2,153,395 3,017,162 528,938 5,699,495 64,734 5,764,229 Total comprehensive income for the period 42,188 (97,824) (55,636) 11,861 (43,775) Dividends (34,420) (34,420) Balance at September 30, 2018 2,153,395 3,059,350 431,114 5,643,859 42,175 5,686,034 Balance at January 1, 2018 2,153,395 3.017,162 528,938 5,699,495 64,734 5,764,229 Profit for the year 199,314 199,314 14,189 213,503 Other comprehensive income for the year 249, 151 249, 151 827 249,978 Dividends (54,827) (54,827) (34,420) (89,247) Balance at December 31, 2018 2, 153,395 3,266,313 673,425 6,093,133 45,330 6,138,463(489,469) (476,731) (433,990) STATEMENT OF CHANGES IN EQUITY 55 Attributable to owners of the parent 50 THE GROUP - (MUR'000) Stated capital Other reserves Retained Non-controlling earnings Owners' interest interests Total Balance at January 1, 2019 2,153,395 3,266,313 673,425 6,093,133 45,330 6,138,463 Total comprehensive income for the period Dividends 48,141 (193,195) (145,054) 6,869 (138,185) Balance at September 30, 2019 (21,069) (21,069) 2,153,395 3,314,454 480,230 5,948,079 31,130 5,979,209 Balance at January 1, 2018 2,153,395 3,017,162 528,938 5,699,495 64,734 Total comprehensive income for the period 5,764,229 42,188 (55,636) 11,861 (43,775) Dividends (97,824) (34,420) Balance at September 30, 2018 (34,420) 2,153,395 3,059,350 431,114 5,643,859 42,175 5,686,034 Balance at January 1, 2018 2,153,395 3,017,162 528,938 5,699,495 64,734 5,764,229 Profit for the year 199,314 199,314 14,189 213,503 Other comprehensive income for the year 249, 151 249, 151 827 249,978 Dividends (54,827) (54,827) (34,420) (89,247) Balance at December 31, 2018 2,153,395 3,266,313 673,425 6,093,133 45,330 6,138,463 GEOGRAPHICAL INFORMATION THE GROUP - (MUR'000) 9 months to Sep 2019 9 months to Sep 2018 Mauritius Maldives Total Mauritius Maldives Total Revenue 1,296,969 1,206,966 2,503,935 1,439,381 1,190,359 2,629,740 Operating profit/(loss) 54,358 (43,152) 11,206 141,629 (18,953) 122,676