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(All amounts in thousand Egyptian Pound)
Note
2017
2016
Assets
Non-current assets
Property, plant, equipment and projects under construction (Net)
(15)
5 602 626
4 898 939
Intangible assets and goodwill
(16)
430 346
437 208
Payments Under Investments
6 478
5 500
Notes receivables (Net)
(11)
1 006 159
756 751
Deferred tax assets
(9-B)
282 653
159 355
Investment property
(17)
90 905
91 512
Debit balances
8 222
24 110
Total non-current assets
7 427 389
6 373 375
Current assets
Inventories (Net)
(10)
3 012 824
5 820 482
Accounts and notes receivables (Net)
(12)
2 972 213
2 363 801
Debtors and other debit balances (Net)
(13)
1 234 882
1 208 354
Due from related parties
(33)
140 341
105 516
Cash on hand and at banks
(14)
1 242 776
1 225 300
Total current assets
8 603 036
10 723 453
Total assets
16 030 425
17 096 828
Equity
Issued and paid in capital
(18)
1 094 010
1 094 010
Shares held by the group
(19)
-
(26 506)
Legal reserve
(20)
320 992
311 125
Other reserves
(21)
2 462 968
2 548 975
Retained (Loss) / earnings
(144 564)
759 762
Net (Loss) for the year
(666 900)
(865 656)
Equity attributable to owners of the company
3 066 506
3 821 710
Non-controlling interests
(22)
1 163 158
1 169 638
Total equity
4 229 664
4 991 348
Liabilities
Non-current liabilities
Loans
(24)
2 573 823
1 663 490
Notes payables and creditors
(27)
558
-
Warranty provisions
(26)
42 834
49 174
Deferred revenues
78 682
21 142
Deferred tax liabilities
(9-B)
152 501
164 389
Total non-current liabilities
2 848 398
1 898 195
Current liabilities
Provisions
(26)
240 928
161 891
Current tax liabilities
(9-A)
80 565
98 115
Loans, borrowings and overdrafts
(24)
7 040 969
7 068 619
Due to related parties
(33)
70 067
70 710
Trade payables and other credit balances
(25)
1 519 834
2 807 950
Total current liabilities
8 952 363
10 207 285
Total liabilities
11 800 761
12 105 480
Total equity and liabilities
16 030 425
17 096 828
*The accompanying notes forman integral part of these consolidated financial statements, and to be read therewith.
Group Finance Director
Chief FinancialOfficer andBoardofDirectorMember
Chairman andManaging Director
Abbas Elsayed Abbas Elsayed
Mostafa Ahmed Elmahdi
Dr. Raouf Ghabbour
(All amounts in thousand Egyptian Pound)
Note
2017
2016
Continuing operations
Revenue
17 656 586
15 285 672
Cost of revenue
(15 703 786)
(13 083 613)
Gross profit
1 952 800
2 202 059
Other income
151 528
40 734
Selling andmarketing expenses
(583 586)
(449 848)
General and administrative expenses
(699 205)
(749 706)
Provisions and Impairment of Current and Non-Current assets (Net)
(7)
(203 364)
(184 856)
Impairment of Non-Current assets held for sale
-
21 229
Imparment in Fixed Asset
-
(2 788)
Investment Losses
-
(10 862)
Operating results
618 173
865 962
Finance costs (Net)
(6)
(1 369 902)
(1 853 352)
Net (Loss) for the year before income tax
(751 729)
(987 390)
Income tax - benefit \ (expense)
( 9-C )
28 074
(2 420)
Net (Loss) for the year
(723 655)
( 989 810)
Attributable to:
Owners of the company
(666 900)
(865 656)
Non-controlling interests
(56 755)
(124 154)
(723 655)
(989 810)
Basic (Loss) / earnings per (share/ EGP)
(8)
(0.61)
(0.81)
*The accompanying notes forman integral part of these consolidated financial statements, and to be read therewith.
Consolidated statement of financial position
as at December 31, 2017
Consolidated statement of Income
for the financial year ended December 31, 2017
66 • 2017 ANNUAL REPORT
2017 ANNUAL REPORT • 67
GB Auto (S.A.E.)
Notes to the consolidated financial statements for the financial year ended December 31, 2017
(In the notes all amounts are shown in Thousand Egyptian Pounds unless otherwise stated)