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Financial Results for the year ended 31 December 2012
Oando Plc
(Incorporated in Nigeria and registered as an external company in South Africa)
Registration number: RC 6474
(External company registration number: 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
(“Oando” or “the Company” or “the Group”)
Oando and subsidiary companies
Shareholders are advised that Oando has released Company and Group Consolidated Statements of
Comprehensive Income for the Year Ended 31 December 2012, of Financial Position as of 31
December 2012, and of Cash Flows for the Period Ended 31 December 2012 to the Nigerian Stock
Echange. Detailed audited results for the full year ended 31 December 2012, including commentary,
is anticipated to be released on the Stock Exchange News Service of JSE Limited in due course.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2012
Consolidate income statement for the year ended 31 December 2012
Group Group Company Company
2012 2011 2012 2011
N'000 N'000 N'000 N'000
Turnover 673,181,997 571,305,637 7,358,881 8,122,502
Gross profit 81,621,806 65,826,558 7,358,881 8,122,502
Finance costs (19,724,536) (13,687,083) (5,565,556) (2,605,357)
Finance income 3,152,826 7,316,985 4,527,632 2,877,014
Finance costs - net (16,571,710) (6,370,098) (1,037,924) 271,657
Other operating income 2,097,924 13,516,172 1,790,961 1,240,803
Selling and marketing costs (7,555,800) (7,892,079) - -
Administrative expenses (42,038,153) (52,115,328) (3,421,175) (8,271,573)
Profit before income tax 17,554,067 12,965,225 4,690,743 1,363,389
Income tax expense (6,767,750) (11,252,759) (311,297) 10,011
Profit after tax 10,786,317 1,712,466 4,379,446 1,373,400
Profit after tax attributable to:
Owners of the parent 10,424,491 1,932,762 4,379,446 1,373,400
Non-controlling interest 361,826 (220,296) - -
10,786,317 1,712,466 4,379,446 1,373,400
Consolidated statement of comprehensive income for
the year ended 31December 2012
Profit for the year 10,786,317 1,712,466 4,379,446 1,373,400
Other comprehensive income:
Revaluation surplus on property, plant and equipment (27,187) - - -
Actuarial (loss)/gains (83,331) 126,040 (23,936) 74,524
Deferred tax on actuarial gains or losses 24,999 (37,812) 7,181 (22,357)
FV loss on available for sale investment (45,166) - (45,166) -
Deferred tax on FV loss on available for sale investment 13,550 - 13,550 -
Currency translation differences (701,534) (630,529) - -
Translation differences on deferred taxes (net) - (146,122) - -
Other comprehensive income for the year, net of taxes (818,669) (688,423) (48,371) 52,167
Total comprehensive income for the year 9,967,648 1,024,043 4,331,075 1,425,567
Attributable to:
Owners of the parent 9,602,879 867,868 4,331,075 1,425,567
Non-controlling interests 364,769 156,175 - -
9,967,648 1,024,043 4,331,075 1,425,567
Earnings per share from continuing operations attributable to owners of the parent during the year:
(expressed in kobo per share)
Basic 474 75 193 60
Diluted 474 75 193 60
Proposed Dividend - 75 kobo per share
STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2012
Group Group Company Company
2012 2011 2012 2011
Assets N'000 N'000 N'000 N'000
Non-current assets
Property, plant and equipment 130,324,713 109,479,209 3,022,194 14,086,046
Intangible assets 138,853,809 119,333,366 89,096 149,333
Deferred income tax assets 13,424,518 9,908,773 579,406 492,139
Available-for-sale financial assets 1,000 1,000 1,000 1,000
Investment in subsidiaries - - 85,379,020 41,864,743
Derivative financial assets 986,278 2,404,000 69,645 -
Finance lease receivables 3,206,008 3,663,544 - -
Deposit for acquisition of a business 67,542,450 - - -
Non-current receivables and prepayments 10,618,594 1,474,428 7,345,639 33,762
Restricted cash 4,053,050 2,343,000 324,000 -
369,010,420 248,607,320 96,810,000 56,627,023
Current assets
Inventories 18,110,541 32,458,405 6,733 -
Finance lease receivables 450,377 498,930 - -
Trade and other receivables 115,775,839 105,196,250 128,786,885 98,102,714
Available-for-sale financial assets 148,701 193,031 147,865 193,031
Cash and cash equivalents (excluding bank overdrafts) 13,408,507 18,690,529 1,567,995 2,517,681
147,893,965 157,037,145 130,509,478 100,813,426
Total assets 516,904,385 405,644,465 227,319,478 157,440,449
Equity and Liabilities
Equity attributable to owners of the parent
Share capital 1,137,058 1,137,058 1,137,058 1,137,058
Share premium 49,521,186 49,521,186 49,521,186 49,521,186
Retained earnings 37,142,280 27,658,713 4,520,486 1,163,375
Other reserves 14,412,064 13,376,928 2,276,126 909,547
102,212,588 91,693,885 57,454,856 52,731,165
Non controlling interest 3,141,939 1,071,101 - -
Total Equity 105,354,527 92,764,986 57,454,856 52,731,165
Liabilities
Non-current liabilities
Borrowings 80,016,896 86,012,291 45,760,738 51,297,182
Deferred income tax liabilities 17,207,614 16,919,822 - -
Provision for other liabilities & charges 3,562,670 1,486,648 - -
Derivative financial liabilities 3,486,456 2,973,892 1,409,651 1,349,724
Retirement benefit obligation 2,802,983 2,728,970 1,232,303 1,216,031
Government Grant 293,941 - - -
107,370,560 110,121,623 48,402,692 53,862,937
Current liabilities
Trade and other payables 87,886,952 75,209,044 51,575,433 43,098,950
Current income tax liabilities 6,417,980 6,904,218 760,941 931,754
Dividend payable 651,058 651,358 651,058 651,358
Provision for other liabilities & charges 353,416 - 353,416 -
Borrowings 208,869,890 119,993,236 68,121,082 6,164,285
304,179,296 202,757,856 121,461,930 50,846,347
Total liabilities 411,549,856 312,879,479 169,864,622 104,709,284
Total equity and liabilities 516,904,383 405,644,465 227,319,478 157,440,449
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2012
Group Group Company Company
2012 2011 2012 2011
N'000 N'000 N'000 N'000
Net cash from/(used in) operating activities 29,310,426 (21,961,244) (55,485,622) 10,066,204
Cash (used in)/generated from investing activities (114,934,247) (21,976,992) (1,161,197) (5,371,314)
Net cash from/(used in) financing activities 57,142,955 49,998,999 47,095,072 (3,157,256)
Net change in cash and cash equivalents (28,480,866) 6,060,763 (9,551,748) 1,537,634
Cash and cash equivalents and bank overdrafts at the beginning of the year (6,657,138) (12,011,680) 2,517,681 815,762
Exchange gains/(losses) on cash and cash equivalents 8,527 (706,221) - -
Cash and cash equivalents at end of the year (35,129,477) (6,657,138) (7,034,067) 2,353,396
Johannesburg
25 June 2013
JSE Sponsor
Macquarie First South Capital (Pty) Limited
Date: 25/06/2013 08:42:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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