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 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 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 Goodwill TOTAL NON-CURRENT ASSETS TOTAL ASSETS 10 11 12 7 9 13 14 1,282,181 B8.936 88,346 384.945 33.850 6.016 B0,126 1.390.010 93.340 89,496 405,710 33,850 6.397 80,126 2,098 929 6.443.450 1,964,400 6,104,771 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 forzakat and income tax TOTAL CURRENT LIABILITIES 15 16 9 17 1B 19 1,058.698 58,288 20.059 2.059.749 141.088 55,421 3,393,303 1,352,721 94,876 21,675 1.956.147 138,350 58,721 3.622,540 18 20 195.246 327,286 313,333 356.550 Non-Current Liabilities Term loans Employees' terminal benefits TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES 522,632 3,915,935 669.896 4,292,436 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 (35,087) 500.000 280471 4553 22 10.01 1,939,842 248.994 Non-Controlling Interests 23 2.151.02 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 2015 2016 SROOD 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) 13,491,329 1691,9831 GROSS PROFIT 1,209,250 7.305.283 EXPENSES Selling and distribution General and administration 24 25 1425,727) (459,681) (438,736) (459,0281 INCOME FROM MAIN OPERATIONS 323,842 407,519 26 Other income, net Financial charges Impairment loss on non-current assets 37,784 195,5021 (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 Share in results of associates INCOME BEFORE NON-CONTROLLING INTERESTS, ZAKAT AND INCOME TAX 14.404) 229,251 13.158) 302.478 23 Non-controlling interests INCOME BEFORE ZAKAT AND INCOME TAX 14,895 244,146 (11.125) 291.353 19 128.3461 Zakat and income tax De-recognition of deferred tax assets (26.932) (16,192) NET INCOME FOR THE YEAR 201,022 263,007 5.40 EARNINGS PER SHARE Attributable to main operations Attributable to net income Weighted average number of shares outstanding (Thousand shares) 28 28 21 3.35 60.000 6.78 4.36 G0.000 Cated Statement of Cash Flows 2016 SR 2015 S000 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 1.385 51,420 (29,172) 95,502 (515) 4,404 14,428 35.627 58,514 1922) 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) 298,541 190.2001 20.172 46,112 19.078 (167,236) 58,458 14,150 1934) 537,736 Financial charges paid Zakat and income tax paid Net cash from operating activities 195,502) (30,232) 172,807 168 514) 122,241) 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 15721 1574 Net cash used in investing activities (108,040) 1137,349) 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) 11.969) (37,3011 (110,0751 (120,000 14621 Net cash used in financing activities (136,477) (267,838 IDECREASE) INCREASE IN CASH AND CASH EQUIVALENT Cash and cash equivalents at the beginning of the year Net movement in foreign currency translation reserve (71.710) 355,424 18.100) 41,794 309./21 3,900 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 275,614 555,12 Consolidated Statement of Cash Flows online! For the year 1 Dec 2016 2016 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 2.290 2.000 Consoldated Statement of Changes in Shareholders' Equity For the year ended a1 December 2016 EQUITY ATTRIBUTABLE TO THE SHAREHOLDERS OF THE COMPANY Share Statutory capital reserve Retained earnings Proposed dividends Total Foreign currency translation reserve SR'000 SR000 SR000 SR 000 SR000 600,000 SR200 (11,980) 254,170 B40,330 Balance at 31 December 2014 60,000 1,742,520 Net income for the year 263,007 263,007 26,301 (26,301) Transfer to statutory reserve Dividends paid inote 22) 160,000) (60,000) 1120.000) (60,0001 60,000 Proposed cash dividends (note 22) Directors remuneration (2.000) - 12,000) 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 19,529 119,529) 160,000) 160,0001 (120,000) Balance at 31 December 2015 Net income for the year Transfer to statutory reserve Dividends paid Inote 22) Proposed cash dividends inote 221 Directors remuneration Net movement in foreign currency translation reserve 160.000) 60.000 11,6001 11,6001 (24.726) (24.7251 600.000 300,000 1,014,929 60,000 (35,087) BALANCE AT 31 DECEMBER 2016 1.939,842