From Chapter 4 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 at 31 December 2016 Notes Notes 2015 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 TOTAL CURRENT ASSETS 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 4,140,371 4.344,531 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 Goodwie TOTAL NON-CURRENT ASSETS TOTAL ASSETS 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 2,098,929 6,443,460 CURRENT LIABILITIES Accounts payables and accruals Billings in excess of value of work executed Amounts due to related parties Short term loans Current portion of term loans Provision for zakat and income tax TOTAL CURRENT LIABILITIES 15 16 9 17 18 19 1,058,698 58.288 20,059 2,059,749 141.088 55,421 3.393,303 1,352,771 94,876 21.675 1,956.147 138.350 58.721 3.622540 18 20 Non-Current Liabilities Term loans Employees' terminal benefits TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES 195.246 327,386 313.338 356.558 669.896 4.292.436 522,632 3,915,935 21 SHAREHOLDERS' EQUITY 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 60,000 135,0871 1,939.842 248.994 600.000 280447 955,036 50.000 110.161 22 Non-Controlling Interests 23 TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 2.188.836 6.104.771 Consolidated Statement of income For the year ended 31 December 2016 Notes 2016 SRO 2015 STOGO REVENUE Sales Contracts revenue Finance lease income 4,003,482 929.492 17,674 4,664 966 805.110 18.499 4,950,648 5,488,595 DIRECT COSTS Cost of sales Contracts costs 13,004,667 (736.731) 13.491,3291 1691.9831 GROSS PROFIT 1.209.250 1.305.283 EXPENSES Selling and distribution General and administration 25 (425.727) (459,681) 1438,736 (459,0281 INCOME FROM MAIN OPERATIONS 323.842 407,519 26 Other income, net Financial charges Impairment loss on non-current assets 37,784 195.502) (32.469) 18,051 168.514) (51,420) 27 233,655 305.636 INCOME BEFORE SHARE IN RESULTS OF ASSOCIATES. NON-CONTROLLING INTERESTS AND ZAKAT AND INCOME TAX 11 Share in results of associates INCOME BEFORE NON-CONTROLLING INTERESTS, ZAKAT AND INCOME TAX 14.404) 229.251 13.1581 302.478 23 Non-controlling interests INCOME BEFORE ZAKAT AND INCOME TAX 14.895 244,146 (11,1251 291,353 19 128.3461 Zakat and income tax De-recognition of deferred tax assets 126.9321 (16.192) NET INCOME FOR THE YEAR 201,022 263.007 6.79 EARNINGS PER SHARE Attributable to main operations Attributable to net income Weighted average number of shares outstanding (Thousand shares) 28 5.40 3.35 60,000 Consolidated Statement of Cash Flows for the younded 31 December 2016 2015 2015 SROO 229.251 302.478 OPERATING ACTIVITIES 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 1.395 51.420 129.172) 95.502 (5151 4,404 35.627 68.514 19221 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 bilings 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) (30,8650 21,743 19.904 268,122 1286.655) (36.588 (1.616) 298.541 190.208 20.172 46.112 19.078 (167.2362 58.458 14.150 537,736 195,502) (30.232) 172,807 168.514 (22.241) 446.981 Financial charges paid Zakat and income tax paid Net cash from operating activities 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 (110,4501 2.982 (138.904 2.129 15723 1574 (108,040) [137.3491 Net cash used in investing activities FINANCING ACTIVITIES Net movement in short term loans Net movement in term loans Dividends paid Non-controlling interests, net 103.602 (118,0901 (120,000 (1.9891 137,301 (110,075) [120,000 4623 Net cash used in financing activities (136,477) 1267.83 IDECREASE) INCREASE IN CASH AND CASH EQUIVALENT Cash and cash equivalents at the beginning of the year Net movement in foreign currency translation reserve (71.7101 355,424 18.100) 302.21 3.909 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 275,614 Consolidated Statement of Cash Flows continued) For the year ended 31 December 2016 2015 2015 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 2290 2.000 Consolidated Statement of Changes in Shareholders' Equity For the year ended 31 December 2016 EQUITY ATTRIBUTABLE TO THE SHAREHOLDERS OF THE COMPANY Total Share Statutory Retained Proposed capital reserve earnings dividends Foreign currency translation reserve SROCO (11.90 SR000 SR'000 254,170 SR 000 840,330 SR000 60,000 SROOD 1.742.520 600,000 Balance at 31 December 2014 263.007 263.007 Net income for the year 26.301 (26,301) Transfer to statutory reserve Dividends paid Inote 22) (60.0001 160.000 1120.0001 Proposed cash dividends (note 22) 160.0001 60.000 12.0001 12.000 Directors remuneration - 1.619 1,619 Net movement in foreign currency translation reserve 600,000 280.471 955.036 50,000 110.3611 1.885.146 201,022 201022 19,529 119.5291 . 160.000) 160,000 1120.000) Balance at 31 December 2015 Net income for the year Transfer to statutory reserve Dividends paid Inote 221 Proposed cash dividends inote 221 Directors remuneration Net movement in foreign currency translation reserve 160,000 60,000 11.600) 116001 124,7269 124.7261 600.000 300,000 1,014,929 60,000 (35,0871 BALANCE AT 31 DECEMBER 2016 1.939.842