Aluminium Bahrain B.S.C. CONSOLIDATED STATEMENT OF CASH FLOWS Year ended 31 December 2018 2018 BD DOO 2017 BD 000 Note 60,283 93,372 64,633 192 1.556 OPERATING ACTIVITIES Profit for the year before tax Adjustments for: Depreciation Amortisation of other asset Provision for employees' end of service benefits Provision for slow moving inventories Provision for impairment of receivables.net (Gain) loss on revaluation of derivative financial instruments Loss on disposal of property, plant and equipment Interest income Interest paid on borrowings ogomoram 4,081 (2.699) 1,043 (537) 2,135 67,654 192 1.420 28 (164) 503 2,519 (573) 1.927 130,739 166,878 (67,704) 29,306 112,305 (35,183) (71,704) 18,677 Working capital changes: Inventories Trade and other receivables Trade and other payables (refer to note below) Cash from operations Employees' end of service benefits paid Income tax paid Net cash flows from operating activities 16 (a) 204,646 (1,443) (528) 78,668 (1.410) (915) 202,675 76.343 INVESTING ACTIVITIES Purchase of property, plant and equipment Proceeds from disposal of property, plant and equipment Interest received (464,835) (525,845) 125 537 : 573 (525,183) (464,173) Net cash flows used in investing activities FINANCING ACTIVITIES Borrowings availed Borrowings repaid Interest on borrowings (refer to note below) Dividends paid Purchase of treasury shares Proceeds from resale of treasury shares 506,409 (121,691) 2,694 (36,720) (5,769) 3.810 615.290 (191,353) 3.099 (29,658) (5.281) 6.779 Net cash flows from financing activities 398,876 348,733 26.225 11.046 INCREASE IN BANK BALANCES AND CASH Bank balances and cash at 1 January BANK BALANCES AND CASH AT 31 DECEMBER 77,459 66,413 103,684 77.459 Non-cash item: The Group had movements in unpaid interest on borrowings amounting to BD 4,829 thousand which was excluded from the movement in trade and other payables (2017: BD 5,026 thousand). CONSOLIDATED STATEMENT OF FINANCIAL POSITION At 31 December 2018 Note 2018 BD 000 2017 BD 000 ASSETS Non-current assets Property, plant and equipment Other asset Derivative financial instruments Deferred tax asset 1,702,117 3,936 1,725 1,242,073 4,128 34 19 1,707,812 1,246,220 Current assets Inventories Trade and other receivables Derivative financial instruments Bank balances and cash 198,577 163,924 266,229 130,522 471 103,684 500,906 2,208,718 77.459 439,960 1,686,180 TOTAL ASSETS EQUITY AND LIABILITIES Equity Share capital Treasury shares Statutory reserve Capital reserve Retained earnings Proposed dividend 142,000 (4,800) 71,000 249 865,021 142,000 (2,690) 71,000 249 805,029 36.806 Total equity 1,073,470 1,052,394 Non-current liabilities Borrowings Employees' end of service benefits Trade and other payables Derivative financial instruments 785,877 1,677 47,000 453,611 1,564 16 (a) 18 (1) 412 834,554 455,587 Current liabilities Borrowings Trade and other payables Derivative financial instruments 74,504 225,332 858 22,050 156,058 91 300,694 178,199 Total liabilities 1,135,248 633,786 TOTAL EQUITY AND LIABILITIES 2,208,718 1,686,180 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Year ended 31 December 2018 2018 BD '000 2017 BD '000 Note Revenue from contracts with customers Cost of sales 23(a) 911,317 (825,335) 857,762 (723,114) GROSS PROFIT 85,982 134,648 Other income (net) Gain/(loss) on foreign exchange General and administrative expenses Selling and distribution expenses Finance costs Directors' fees Changes in fair value of derivative financial instruments 12,831 11,665 (26,927) (23,622) (2,135) (210) 2,699 7,451 (1,837) (27.120) (16,908) (2,149) (210) (503) PROFIT FOR THE YEAR BEFORE TAX 93,372 Tax expense 60,283 (528) 59,755 (915) 92,457 PROFIT FOR THE YEAR Other comprehensive income for the year PROFIT AND TOTAL COMPREHENSIVE INCOME FOR THE YEAR 59,755 92,457 Basic and diluted earnings per share (fils) 65 TASKS: 1. Explain and interpret the statement of Cash Flows for which items provide and consumes the largest cash amounts by checking and interpreting every line of the statement. (LO 1: K-TU) 2. Write detailed information about alba's profit distribution by examining the related notes and financial statements (LO2: K-PA) 3. Write detailed information about alba's shares and bonds by examining the related notes and financial statements (LO3: S-A) 4. Analyze the financial statements by applying financial ratios and write an interpretation about the ratios. (LO 4: S-PS)