MIRA
INFORM REPORT
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Report Date : |
13.07.2012 |
IDENTIFICATION DETAILS
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Name : |
RENAISSANCE SERVICES |
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Registered Office : |
Renaissance House, Central Business District,Muttrah, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.01.1996 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Subject is engaged in the provision of diversified services in different sectors · Engineering Services Segment Marine
Services Segment Contract
Services Segment |
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No. of Employees : |
10,000 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Oman |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Renaissance Services
Renaissance House
Central Business District,Muttrah
P O Box 1676
Muscat, 114
Oman
Tel: 968-24-796636
Fax: 968-24-796639
Synthesis
Employees: 10,000
Company Type: Public Independent
Traded: Muscat
Securities Market: RNSS
Incorporation Date:
25-Jan-1996
Auditor: KPMG LLP
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Rial Omani
Annual Sales: 753.0
1
Net Income: (2.6)
Total Assets: 1,697.9 2
Market Value: 366.4
(28-Jun-2012)
Business Description
Renaissance Services SAOG is an Oman-based public joint stock company that, together with its subsidiaries, is engaged in the provision of diversified services in different sectors. The Company is organized into three business segments: the Engineering services segment includes ship repair, ship building and fabrication and maintenance services for the oil and gas industry; the Marine services segment includes vessel chartering to oil and gas off shore companies, and the Contract services segment includes facilities management, facilities establishment, contract catering and operations and maintenance services. In addition, the Company’s other operations include the provision of training services, media publishing, advertising and distribution, manufacturing, general trading, investments and related activities. As of December 31, 2011, the Company incorporated a new associate in the Kingdom of Saudi Arabia, namely National Saudi Training Institute for Development LLC. For the three months ended 31 March 2012, Renaissance Services SAOG's sale increased 5% to OMR72M. Net income decreased 16% to OMR782K. Total sale reflects an increase in demand for the Company's products and services. Net income was offset by an increase in finance charges. Net income was also offset by a decrease in gross profit margin. Renaissance Services Company is listed on Muscat Securities Market.
Industry
Industry Oil Well Services and Equipment
ANZSIC 2006: 1090 - Other
Mining Support Services
NACE 2002: 1120 - Service
activities incidental to oil and gas extraction excluding surveying
NAICS 2002: 213112 - Support
Activities for Oil and Gas Operations
UK SIC 2003: 1120 - Service
activities incidental to oil and gas extraction excluding surveying
US SIC 1987: 1389 - Oil and Gas
Field Services, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Stephen R. Thomas |
Chief Executive Officer |
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Robert Maclean |
Principal, NHI |
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Vishal Goenka |
Chief Financial Officer |
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Ayman Al Humoud |
Business Development Manager RS CSG - Contract Services Group |
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Saad Abdullah Ali |
Company Secretary |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Regulatory / Company Investigation |
1 |
Renaissance Services Completes Fraud Probe Into Topaz Unit-Reuters |
12-Sep-2011 |
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Mergers & Acquisitions |
1 |
Renaissance Services SAOG's Marine Division Acquires Platform Supply
Vessel (PSV), Caspian Provider |
25-Sep-2011 |
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Other Accounting |
1 |
Renaissance Services SAOG Issues Further Information Concerning
Capital Increase Through Bond Issue; Appoints New External Auditors |
25-Mar-2012 |
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Business Deals |
2 |
Renaissance Services SAOG Subsidiary Wins Ferry Building Contract For
Sharjah Government |
23-Jun-2012 |
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General Products |
1 |
Renaissance Services SAOG's Subsidiary Builds Two Offshore Support
Vessels; To Be Leased By BP Plc |
7-May-2012 |
* number of significant developments within the last 12 months
News
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Title |
Date |
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Renaissances rights issue opens |
11-Jul-2012 |
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CMA okays Renaissance bond issue |
1-Jul-2012 |
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MSM Index 30 Begins |
1-Jul-2012 |
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US econ data seen supporting Gulf
sentiment |
28-Jun-2012 |
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Capital Intelligence rates Renaissance
Services' convertible bond at omBBB- |
27-Jun-2012 |
Financial Summary
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = OMR 0.385032
2 - Balance Sheet Item Exchange Rate: USD 1 = OMR 0.385
Corporate Overview
Location
Renaissance House
Central Business District,Muttrah
P O Box 1676
Muscat, 114
Oman
Tel: 968-24-796636
Fax: 968-24-796639
Quote Symbol - Exchange
RNSS - Muscat
Securities Market
Sales OMR(mil): 289.9
Assets OMR(mil): 653.7
Employees: 31-Dec-2011
Industry: Oil
Well Services and Equipment
Incorporation Date: 25-Jan-1996
Company Type: Public
Independent
Quoted Status: Quoted
Chief Executive Officer: Stephen
R. Thomas
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Employment Opportunities
Executives
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
6940 - Advertising Services
1090 - Other Mining Support Services
821 - Adult, Community and Other Education
6720 - Real Estate Services
451 - Cafes, Restaurants and Takeaway Food Services
2391 - Shipbuilding and Repair Services
3299 - Other Construction Services Not Elsewhere Classified
4810 - Water Freight Transport
6240 - Financial Asset Investing
NACE 2002 Codes:
7031 - Real estate agencies
7440 - Advertising
6523 - Other financial intermediation not elsewhere classified
3511 - Building and repairing of ships
4525 - Other construction work involving special trades
1120 - Service activities incidental to oil and gas extraction
excluding surveying
5530 - Restaurants
6110 - Sea and coastal water transport
8042 - Adult and other education not elsewhere classified
NAICS 2002 Codes:
531210 - Offices of Real Estate Agents and Brokers
541870 - Advertising Material Distribution Services
525990 - Other Financial Vehicles
213112 - Support Activities for Oil and Gas Operations
722211 - Limited-Service Restaurants
238990 - All Other Specialty Trade Contractors
336611 - Ship Building and Repairing
483111 - Deep Sea Freight Transportation
611699 - All Other Miscellaneous Schools and Instruction
US SIC 1987:
4412 - Deep Sea Foreign Transportation of Freight
5812 - Eating Places
3731 - Ship Building and Repairing
6726 - Unit Investment Trusts, Face-Amount Certificate offices,
and Closed-End Management Investment Offices
7319 - Advertising, Not Elsewhere Classified
1389 - Oil and Gas Field Services, Not Elsewhere Classified
8299 - Schools and Educational Services, Not Elsewhere Classified
1799 - Special Trade Contractors, Not Elsewhere Classified
6531 - Real Estate Agents and Managers
UK SIC 2003:
61102 - Freight sea and coastal water transport
6523 - Other financial intermediation not elsewhere classified
5530 - Restaurants
7440 - Advertising
1120 - Service activities incidental to oil and gas extraction excluding
surveying
8042 - Adult and other education not elsewhere classified
3511 - Building and repairing of ships
4525 - Other construction work involving special trades
7031 - Real estate agencies
Business
Description
Renaissance
Services SAOG is an Oman-based public joint stock company that, together with
its subsidiaries, is engaged in the provision of diversified services in
different sectors. The Company is organized into three business segments: the
Engineering services segment includes ship repair, ship building and
fabrication and maintenance services for the oil and gas industry; the Marine
services segment includes vessel chartering to oil and gas off shore companies,
and the Contract services segment includes facilities management, facilities
establishment, contract catering and operations and maintenance services. In
addition, the Company’s other operations include the provision of training
services, media publishing, advertising and distribution, manufacturing,
general trading, investments and related activities. As of December 31, 2011,
the Company incorporated a new associate in the Kingdom of Saudi Arabia, namely
National Saudi Training Institute for Development LLC. For the three months
ended 31 March 2012, Renaissance Services SAOG's sale increased 5% to OMR72M.
Net income decreased 16% to OMR782K. Total sale reflects an increase in demand
for the Company's products and services. Net income was offset by an increase
in finance charges. Net income was also offset by a decrease in gross profit
margin. Renaissance Services Company is listed on Muscat Securities Market.
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Executive report
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Board of
Directors |
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Non-Executive Independent Chairman of the Board |
Chairman |
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Non-Executive Independent Deputy Chairman of the Board |
Vice-Chairman |
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Non-Executive Independent Member of the Board |
Director/Board Member |
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Non-Executive Independent Member of the Board |
Director/Board Member |
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Non-Executive Independent Member of the Board |
Director/Board Member |
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Non-Executive Independent Member of the Board |
Director/Board Member |
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Non-Executive Independent Member of the Board |
Director/Board Member |
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Executives |
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Chief Executive Officer |
Chief Executive Officer |
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Principal, NHI |
President |
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General Manager, GLD |
Division Head Executive |
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Chief Executive Officer, NTI |
Division Head Executive |
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General Manager Topaz Marine Kazakhstan - Marine and Engineering Group |
Division Head Executive |
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Chief Development Officer - Contract Services Group |
Division Head Executive |
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Procurement and Logistics Manager - Contract Services Group |
Division Head Executive |
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Managing Director Marine Engineering - Marine and Engineering Group |
Division Head Executive |
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General Manager Topaz Marine Azerbaijan - Marine and Engineering Group |
Division Head Executive |
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Group Chief Internal Auditor |
Division Head Executive |
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Operations Manager RSOD Iraq - Contract Services Group |
Division Head Executive |
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General Manager Finance, Topaz Engineering - Marine and Engineering
Group |
Division Head Executive |
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Chief Executive Officer, CSG - Contract Services Group |
Division Head Executive |
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Chief Support Services Officer - Contract Services Group |
Division Head Executive |
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General Manager RCS Angola - Contract Services Group |
Division Head Executive |
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Facilities Development Manager - Contract Services Group |
Division Head Executive |
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General Manager Finance Topaz Marine - Marine and Engineering Group |
Division Head Executive |
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Country Manager RSOD Afghanistan - Contract Services Group |
Division Head Executive |
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General Manager, Topaz Marine Turkmenistan - Marine and Engineering
Group |
Division Head Executive |
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General Manager Topaz Marine Repair - Marine and Engineering Group |
Division Head Executive |
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Managing Director Oil and Gas Engineering - Marine and Engineering
Group |
Division Head Executive |
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Construction Manager - Contract Services Group |
Division Head Executive |
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Chief Executive Officer - MCG |
Division Head Executive |
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Finance Manager - Contract Services Group |
Division Head Executive |
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Costing Manager - Contract Services Group |
Division Head Executive |
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General Manager NOC Norway - Contract Services Group |
Division Head Executive |
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General Manager, Topaz Maintenance Services - Marine and Engineering
Group |
Division Head Executive |
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Chief Executive Officer AlWasta Emirates and Services LLC - Contract
Services Group |
Division Head Executive |
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Chief Operating Officer - Contract Services Group |
Operations Executive |
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Chief Operating Officer Topaz Marine - Marine and Engineering |
Operations Executive |
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Chief Operating Officer AlWasta Emirates and Services LLC - Contract
Services Group |
Operations Executive |
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Company Secretary |
Company Secretary |
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Chief Financial Officer |
Finance Executive |
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Group Finance Director - Marine and Engineering Group |
Finance Executive |
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Chief Financial Officer - Contract Services Group |
Finance Executive |
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Business Development Manager RS CSG - Contract Services Group |
Business Development Executive |
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QA/HSE Advisor - Contract Services Group |
Quality Executive |
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Significant Developments
Renaissance Services SAOG Announces Rights Issue of 423,141,678 Mandatory Convertible Bonds Jul 08, 2012
Renaissance Services SAOG announced that it has decided to announce
Rights Issue of 423,141,678 Mandatory Convertible Bonds (MCBs) for OMR 0.102
per each MCB, including face value of OMR 0.100 and OMR 0.002 as Issue
Expenses. The subscription period is from July 10, 2012 to July 24, 2012 and
the MCBs are expected to be listed on the Muscat Securities Market by August 8,
2012.
Renaissance Services SAOG Subsidiary Wins Ferry Building Contract For
Sharjah Government Jun 23, 2012
Renaissance Services SAOG announced that its subsidiary, Topaz Marine
Engineering (Topaz), has been commissioned by the Government of Sharjah's Royal
Court (Al Diwan Al Amiri) to build and deliver one Catamaran passenger ferry boat
(Catamaran or ferry). The Catamaran will be designed to accommodate 40 people,
with passengers all seated on the main deck. It will be used to transport
people between mainland Sharjah and the Abu Musa Island, situated 70 kilometres
offshore. The ferry will be built at Topaz's Nicocraft Shipyard in Abu Dhabi
and is scheduled for delivery in January 2013.
Renaissance Services SAOG Approves Issue 1 Billion Bonds Within Coming
Five Years Jun 18, 2012
Renaissance Services SAOG announced that the shareholders have approved to issue up to 1 billion bonds at an issue price of OMR 0.100 per each through either rights issue or public issue, which may be issued in more than one issue, during a period of five years from the Extraordinary General Meeting date.
Renaissance Services SAOG Subsidiary Signs Phase One Of USD 330 Million Loan Agreement With Syndicate Of Banks May 27, 2012
Renaissance Services SAOG announced that its subsidiary, Topaz Energy and Marine Ltd, has signed phase one of a USD 330 million loan agreement with a syndicate of banks towards the refinancing of some of its existing loans. The transaction refinances Topaz Energy and Marine Ltd's existing borrowings and releases trapped equity of USD 60 million. The first phase of USD 203 million refinancing was arranged and financed by DVB Bank, Standard Chartered Bank, and First Gulf Bank.
Renaissance Services SAOG's Subsidiary Builds Two Offshore Support Vessels; To Be Leased By BP Plc May 07, 2012
Renaissance Services SAOG announced that its subsidiary, Topaz Energy and Marine, has built and added two Anchor Handling/Offshore Support/Towing vessels to the fleet. The two sister vessels , Topaz Dignity and Topaz Triumph, will be operated by Topaz Energy and Marine on behalf of BP Plc on a long term contract basis in the Caspian Sea.
Renaissance Services SAOG Issues Further Information Concerning Capital Increase Through Bond Issue; Appoints New External Auditors Mar 25, 2012
Renaissance Services SAOG announced that its Shareholders, during their Extraordinary General Meeting held on March 25, 2012, has approved to increase the Company's Capital from OMR 40,000,000 to OMR 150,000,000, through issuing bonds with no interest value. Furthermore, the Company has approved to appoint Price Waterhouse Coopers LPP as its as statutory auditors for the fiscal year December 31, 2012.
Renaissance Services SAOG Recommends To Raise Its Capital Through Bond Issue
Feb 28, 2012
Renaissance Services SAOG announced that its Board of Directors has recommended to increase the Company's capital of OMR 40 million through issuing bonds with no interest value. This capital raise proposal shall be presented to the Shareholders for approval at the Extraordinary General Meeting (EGM) scheduled on March 25, 2012.
Renaissance Services SAOG Subsidiary Secures a Contract With GAC Marine Feb 05, 2012
Renaissance Services SAOG announced that its subsidiary, Topaz Energy & Marine (Topaz), has been awarded a contract from GAC Group to provide completion services for two crew/cargo vessels. Topaz's NicoCraft shipyard in Abu Dhabi has been awarded the contract based on the shipyard's capabilities and established track record. The construction and engineering works that will be undertaken as part of the contract include structural works, outfitting and equipment installation. Upon delivery, the vessels will be approximately 22 meters long, will carry 24 passengers plus seven crew, as well as up to 15 tons of cargo.
Renaissance Services SAOG Plans To Raise Its Capital Dec 27, 2011
Renaissance Services SAOG announced that its Board of Directors has approved to raise its capital up to OMR 50 million (USD 130 million) through private placement.
Renaissance Services SAOG Subsidiary Announces USD 380 Million Financing
Initiative Nov 02, 2011
Renaissance Services SAOG announced that its subsidiary, Topaz Energy and Marine (Topaz), has received a financing initiative loan worth USD 380 million from Standard Chartered Bank and DVB Bank. The initiative will involve both regional and international lenders in a refinancing deal that features Topaz's offshore support vessel (OSV) division, Topaz Marine. Out of USD 380 million, approximately USD 125 million is for vessels under construction and for investments in new vessels. Topaz expects the financing initiative to be completed before the end of December 2011.
Renaissance Services SAOG's Marine Division Acquires Platform Supply Vessel (PSV), Caspian Provider Sep 25, 2011
Renaissance Services SAOG announced that its marine division has recently acquired the Caspian Provider, which is a Platform Supply Vessel (PSV), to join the Company's fleet on a four-year contract in Azerbaijan, with a value in excess of OMR 15.4 million (USD 40 million). The Caspian Provider will be working out of Baku, Azerbaijan, on a contract with oil and gas major British Petroleum (BP) won by the Company's subsidiary, Topaz Energy and Marine, in 2008.
Renaissance Services Completes Fraud Probe Into Topaz Unit-Reuters Sep 12, 2011 reported that Renaissance Services has completed its investigation in to the misappropriation of $2.9 million at its Topaz unit and does not expect to recover any of the funds easily. The fraud was isolated at one foreign unit and did not find any other similar cases of wrongdoing in other parts of its business.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
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Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
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Exchange Rate
(Period Average) |
0.385032 |
0.385008 |
0.384999 |
0.384956 |
0.384897 |
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Auditor |
KPMG LLP |
KPMG LLP |
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KPMG LLP |
Ernst &
Young LLP |
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Auditor Opinion |
Unqualified |
Unqualified |
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Unqualified |
Unqualified |
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Net Sales |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
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Sale |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
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Total Sale |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
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Cost of Sale |
574.3 |
457.7 |
449.1 |
435.3 |
376.2 |
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Cost of Sale, Total |
574.3 |
457.7 |
449.1 |
435.3 |
376.2 |
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Gross Profit |
178.7 |
200.6 |
194.0 |
173.2 |
141.4 |
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Selling/General/Administrative Expense |
81.8 |
73.9 |
88.6 |
76.1 |
69.8 |
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Total Selling/General/Administrative Expenses |
81.8 |
73.9 |
88.6 |
76.1 |
69.8 |
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Amortization of Intangibles |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
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Depreciation/Amortization |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
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Total Operating Expense |
656.2 |
531.6 |
537.8 |
511.6 |
446.2 |
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Operating Income |
96.8 |
126.6 |
105.3 |
97.0 |
71.4 |
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Interest Expense -
Non-Operating |
-49.7 |
-27.3 |
-21.4 |
-19.2 |
-14.1 |
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Interest Expense, Net Non-Operating |
-49.7 |
-27.3 |
-21.4 |
-19.2 |
-14.1 |
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Investment Income -
Non-Operating |
0.3 |
1.0 |
0.0 |
15.8 |
0.8 |
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Interest/Investment Income - Non-Operating |
0.3 |
1.0 |
0.0 |
15.8 |
0.8 |
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Interest Income (Expense) - Net Non-Operating Total |
-49.4 |
-26.4 |
-21.4 |
-3.4 |
-13.4 |
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Other Non-Operating Income (Expense) |
-27.2 |
0.5 |
1.0 |
-7.0 |
- |
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Other, Net |
-27.2 |
0.5 |
1.0 |
-7.0 |
- |
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Income Before Tax |
20.1 |
100.7 |
84.9 |
86.6 |
58.0 |
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Total Income Tax |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
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Income After Tax |
6.0 |
83.8 |
74.1 |
68.1 |
45.1 |
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Minority Interest |
-8.5 |
-12.0 |
-8.9 |
-6.0 |
-2.1 |
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Net Income Before Extraord Items |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
Net Income |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
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Income Available to Common Excl Extraord Items |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
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Income Available to Common Incl Extraord Items |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
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Basic/Primary Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
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Basic EPS Excl Extraord Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Basic/Primary EPS Incl Extraord Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
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Dilution Adjustment |
0.0 |
- |
- |
- |
- |
|
Diluted Net Income |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
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Diluted Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Diluted EPS Excl Extraord Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
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Diluted EPS Incl Extraord Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
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Dividends per Share - Common Stock Primary Issue |
0.00 |
0.03 |
0.03 |
0.06 |
0.03 |
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Gross Dividends - Common Stock |
0.0 |
8.8 |
8.8 |
6.4 |
8.7 |
|
Interest Expense, Supplemental |
49.7 |
27.3 |
21.4 |
19.2 |
14.1 |
|
Depreciation, Supplemental |
69.8 |
57.0 |
55.0 |
45.8 |
39.5 |
|
Normalized Income Before Tax |
20.1 |
100.7 |
84.9 |
86.6 |
58.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Normalized Income After Tax |
6.0 |
83.8 |
74.1 |
68.1 |
45.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Diluted Normalized EPS |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Amort of Intangibles, Supplemental |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Normalized EBIT |
96.8 |
126.6 |
105.3 |
97.0 |
71.4 |
|
Normalized EBITDA |
166.7 |
183.7 |
160.4 |
143.0 |
111.1 |
|
Current Tax - Local |
14.2 |
16.9 |
10.9 |
-1.1 |
-1.4 |
|
Current Tax - Total |
14.2 |
16.9 |
10.9 |
-1.1 |
-1.4 |
|
Deferred Tax - Local |
- |
- |
0.0 |
19.6 |
14.4 |
|
Deferred Tax - Total |
- |
- |
0.0 |
19.6 |
14.4 |
|
Income Tax - Total |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Defined Contribution Expense Retirement |
17.3 |
14.7 |
12.5 |
10.8 |
- |
|
Total Pension Expense |
17.3 |
14.7 |
12.5 |
10.8 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate |
0.385 |
0.385 |
0.38495 |
0.38505 |
0.385 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
97.0 |
58.3 |
79.7 |
39.0 |
41.5 |
|
Short Term Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Cash and Short Term Investments |
97.1 |
58.3 |
79.8 |
39.0 |
41.6 |
|
Trade Accounts Receivable - Net |
286.9 |
243.6 |
225.6 |
223.5 |
154.8 |
|
Total Receivables, Net |
286.9 |
243.6 |
225.6 |
223.5 |
154.8 |
|
Inventories - Work In Progress |
3.4 |
13.7 |
12.8 |
13.3 |
23.0 |
|
Inventories - Other |
19.9 |
20.7 |
15.8 |
12.4 |
11.0 |
|
Total Inventory |
23.4 |
34.5 |
28.7 |
25.7 |
34.0 |
|
Total Current Assets |
407.3 |
336.4 |
334.0 |
288.2 |
230.4 |
|
|
|
|
|
|
|
|
Land/Improvements |
240.8 |
232.1 |
128.2 |
117.0 |
97.1 |
|
Machinery/Equipment |
1,213.7 |
1,033.4 |
740.3 |
632.8 |
418.4 |
|
Construction in
Progress |
98.2 |
54.2 |
118.4 |
39.9 |
42.0 |
|
Property/Plant/Equipment - Gross |
1,552.7 |
1,319.7 |
986.8 |
789.7 |
557.5 |
|
Accumulated Depreciation |
-371.3 |
-302.7 |
-252.3 |
-209.4 |
-171.5 |
|
Property/Plant/Equipment - Net |
1,181.4 |
1,017.0 |
734.5 |
580.3 |
386.0 |
|
Goodwill, Net |
- |
- |
- |
- |
89.0 |
|
Intangibles, Net |
101.0 |
100.9 |
88.4 |
88.4 |
- |
|
LT Investments - Other |
5.0 |
4.5 |
3.5 |
6.3 |
6.6 |
|
Long Term Investments |
5.0 |
4.5 |
3.5 |
6.3 |
6.6 |
|
Deferred Income Tax - Long Term Asset |
3.3 |
1.2 |
3.2 |
3.2 |
4.4 |
|
Other Long Term Assets, Total |
3.3 |
1.2 |
3.2 |
3.2 |
4.4 |
|
Total Assets |
1,697.9 |
1,460.0 |
1,163.6 |
966.5 |
716.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
193.5 |
162.1 |
168.2 |
176.6 |
156.2 |
|
Notes Payable/Short Term Debt |
21.4 |
9.1 |
9.1 |
7.3 |
2.0 |
|
Current Portion - Long Term Debt/Capital Leases |
191.8 |
146.3 |
100.0 |
81.4 |
51.7 |
|
Total Current Liabilities |
406.8 |
317.4 |
277.4 |
265.3 |
209.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
745.2 |
593.5 |
389.9 |
308.9 |
203.0 |
|
Total Long Term Debt |
745.2 |
593.5 |
389.9 |
308.9 |
203.0 |
|
Total Debt |
958.4 |
748.8 |
499.0 |
397.6 |
256.7 |
|
|
|
|
|
|
|
|
Minority Interest |
69.3 |
61.1 |
53.0 |
34.8 |
12.3 |
|
Pension Benefits - Underfunded |
17.3 |
14.7 |
12.5 |
10.8 |
9.5 |
|
Other Long Term Liabilities |
26.9 |
25.6 |
46.3 |
21.4 |
9.9 |
|
Other Liabilities, Total |
44.2 |
40.4 |
58.9 |
32.2 |
19.3 |
|
Total Liabilities |
1,265.5 |
1,012.4 |
779.1 |
641.1 |
444.6 |
|
|
|
|
|
|
|
|
Common Stock |
73.3 |
73.3 |
73.3 |
63.7 |
57.9 |
|
Common Stock |
73.3 |
73.3 |
73.3 |
63.7 |
57.9 |
|
Additional Paid-In Capital |
50.6 |
50.6 |
50.6 |
53.8 |
65.3 |
|
Retained Earnings (Accumulated Deficit) |
317.8 |
328.7 |
265.2 |
212.3 |
153.0 |
|
Treasury Stock - Common |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
|
Other Comprehensive Income |
-4.8 |
-0.6 |
-0.2 |
- |
- |
|
Other Equity, Total |
-4.8 |
-0.6 |
-0.2 |
- |
- |
|
Total Equity |
432.5 |
447.6 |
384.5 |
325.4 |
271.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,697.9 |
1,460.0 |
1,163.6 |
966.5 |
716.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Total Common Shares Outstanding |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Treasury Shares - Common Stock Primary Issue |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Number of Common Shareholders |
4,854 |
4,890 |
5,204 |
5,212 |
4,985 |
|
Deferred Sale - Long Term |
3.0 |
5.4 |
1.9 |
2.9 |
9.9 |
|
Total Long Term Debt, Supplemental |
937.0 |
739.8 |
486.7 |
390.0 |
254.0 |
|
Long Term Debt Maturing within 1 Year |
191.8 |
146.3 |
99.5 |
81.1 |
51.3 |
|
Long Term Debt Maturing in Year 2 |
156.8 |
116.8 |
84.1 |
68.1 |
38.9 |
|
Long Term Debt Maturing in Year 3 |
156.8 |
116.8 |
84.1 |
68.1 |
38.9 |
|
Long Term Debt Maturing in Year 4 |
156.8 |
116.8 |
84.1 |
68.1 |
38.9 |
|
Long Term Debt Maturing in Year 5 |
156.8 |
116.8 |
84.1 |
68.1 |
38.9 |
|
Long Term Debt Maturing in 2-3 Years |
313.5 |
233.6 |
168.2 |
136.2 |
77.8 |
|
Long Term Debt Maturing in 4-5 Years |
313.5 |
233.6 |
168.2 |
136.2 |
77.8 |
|
Long Term Debt Matur. in Year 6 & Beyond |
118.1 |
126.3 |
50.8 |
36.5 |
47.1 |
|
Total Capital Leases, Supplemental |
- |
0.0 |
3.2 |
0.3 |
0.6 |
|
Capital Lease Payments Due in Year 1 |
- |
0.0 |
0.5 |
0.3 |
0.4 |
|
Capital Lease Payments Due in Year 2 |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
Capital Lease Payments Due in Year 3 |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
Capital Lease Payments Due in Year 4 |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
Capital Lease Payments Due in Year 5 |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
Capital Lease Payments Due in 2-3 Years |
- |
0.0 |
0.5 |
0.0 |
0.1 |
|
Capital Lease Payments Due in 4-5 Years |
- |
0.0 |
0.5 |
0.0 |
0.1 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
0.0 |
1.7 |
0.0 |
- |
|
Total Operating Leases, Supplemental |
109.5 |
121.6 |
46.8 |
147.1 |
39.6 |
|
Operating Lease Payments Due in Year 1 |
18.2 |
22.1 |
18.0 |
17.1 |
15.7 |
|
Operating Lease Payments Due in Year 2 |
15.5 |
15.5 |
4.2 |
97.9 |
4.8 |
|
Operating Lease Payments Due in Year 3 |
15.5 |
15.5 |
4.2 |
5.6 |
4.8 |
|
Operating Lease Payments Due in Year 4 |
15.5 |
15.5 |
4.2 |
5.6 |
4.8 |
|
Operating Lease Payments Due in Year 5 |
15.5 |
15.5 |
4.2 |
5.6 |
4.8 |
|
Operating Lease Pymts. Due in 2-3 Years |
30.9 |
31.0 |
8.5 |
103.5 |
9.7 |
|
Operating Lease Pymts. Due in 4-5 Years |
30.9 |
31.0 |
8.5 |
11.1 |
9.7 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
29.4 |
37.6 |
11.8 |
15.4 |
4.5 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385032 |
0.385008 |
0.384999 |
0.384956 |
0.384897 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Other Non-Cash Items |
111.9 |
149.1 |
146.1 |
111.6 |
111.5 |
|
Non-Cash Items |
111.9 |
149.1 |
146.1 |
111.6 |
111.5 |
|
Other Operating Cash Flow |
-61.8 |
-43.6 |
-26.7 |
-33.0 |
-28.5 |
|
Changes in Working Capital |
-61.8 |
-43.6 |
-26.7 |
-33.0 |
-28.5 |
|
Cash from Operating Activities |
50.1 |
105.5 |
119.5 |
78.6 |
83.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-214.5 |
-349.0 |
-186.5 |
-157.8 |
-116.0 |
|
Purchase/Acquisition of Intangibles |
-0.1 |
-0.4 |
- |
- |
- |
|
Capital Expenditures |
-214.6 |
-349.4 |
-186.5 |
-157.8 |
-116.0 |
|
Acquisition of Business |
0.0 |
-15.5 |
0.0 |
-115.0 |
0.0 |
|
Sale of Fixed Assets |
- |
- |
0.0 |
3.1 |
10.2 |
|
Sale/Maturity of Investment |
- |
0.0 |
2.7 |
41.3 |
0.2 |
|
Purchase of Investments |
-0.2 |
- |
0.0 |
-2.2 |
- |
|
Other Investing Cash Flow |
0.5 |
0.5 |
0.4 |
0.5 |
3.2 |
|
Other Investing Cash Flow Items, Total |
0.3 |
-15.0 |
3.1 |
-72.4 |
13.6 |
|
Cash from Investing Activities |
-214.3 |
-364.4 |
-183.4 |
-230.2 |
-102.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
2.2 |
-3.6 |
9.7 |
14.3 |
7.4 |
|
Financing Cash Flow Items |
2.2 |
-3.6 |
9.7 |
14.3 |
7.4 |
|
Cash Dividends Paid - Common |
-8.8 |
-8.8 |
-6.4 |
-8.7 |
-7.9 |
|
Total Cash Dividends Paid |
-8.8 |
-8.8 |
-6.4 |
-8.7 |
-7.9 |
|
Long Term Debt, Net |
197.2 |
249.9 |
99.5 |
138.2 |
53.5 |
|
Issuance (Retirement) of Debt, Net |
197.2 |
249.9 |
99.5 |
138.2 |
53.5 |
|
Cash from Financing Activities |
190.6 |
237.5 |
102.8 |
143.8 |
53.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
26.4 |
-21.4 |
38.9 |
-7.8 |
33.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
49.2 |
70.6 |
31.7 |
39.5 |
5.9 |
|
Net Cash - Ending Balance |
75.6 |
49.2 |
70.6 |
31.7 |
39.5 |
|
Cash Interest Paid |
49.7 |
27.3 |
19.8 |
19.2 |
14.1 |
|
Cash Taxes Paid |
12.1 |
16.3 |
6.9 |
13.8 |
14.4 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385032 |
0.385008 |
0.384999 |
0.384956 |
0.384897 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sale |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
|
Total Sale |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
|
|
|
|
|
|
|
|
Cost of Sale |
574.3 |
457.7 |
449.1 |
435.3 |
376.2 |
|
Administrative Expenses |
81.8 |
73.9 |
88.6 |
76.1 |
69.8 |
|
Intangibles Amortisation |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Total Operating Expense |
656.2 |
531.6 |
537.8 |
511.6 |
446.2 |
|
|
|
|
|
|
|
|
Interest Expense |
-49.7 |
-27.3 |
-21.4 |
-19.2 |
-14.1 |
|
Other non-operating expenses |
-29.7 |
- |
- |
- |
- |
|
Provision for Derivative Used for Hedgin |
2.5 |
0.5 |
1.0 |
-7.0 |
- |
|
Net Gains on Investments |
0.0 |
0.0 |
0.0 |
16.3 |
0.0 |
|
Share of Profit from an Assoc. Co. |
0.3 |
1.0 |
0.0 |
-0.5 |
0.8 |
|
Net Income Before Taxes |
20.1 |
100.7 |
84.9 |
86.6 |
58.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Net Income After Taxes |
6.0 |
83.8 |
74.1 |
68.1 |
45.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-8.5 |
-12.0 |
-8.9 |
-6.0 |
-2.1 |
|
Net Income Before Extra. Items |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
Net Income |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Basic EPS Including ExtraOrdinary Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Dilution Adjustment |
0.0 |
- |
- |
- |
- |
|
Diluted Net Income |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
Diluted Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Diluted EPS Including ExtraOrd Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
DPS-Common Stock |
0.00 |
0.03 |
0.03 |
0.06 |
0.03 |
|
Gross Dividends - Common Stock |
0.0 |
8.8 |
8.8 |
6.4 |
8.7 |
|
Normalized Income Before Taxes |
20.1 |
100.7 |
84.9 |
86.6 |
58.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Normalized Income After Taxes |
6.0 |
83.8 |
74.1 |
68.1 |
45.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Diluted Normalized EPS |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Interest Expenses |
49.7 |
27.3 |
21.4 |
19.2 |
14.1 |
|
Amortisation |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Depreciation |
69.8 |
57.0 |
55.0 |
45.8 |
39.5 |
|
Current Tax |
14.2 |
16.9 |
10.9 |
-1.1 |
-1.4 |
|
Current Tax - Total |
14.2 |
16.9 |
10.9 |
-1.1 |
-1.4 |
|
Deferred Tax |
- |
- |
0.0 |
19.6 |
14.4 |
|
Deferred Tax - Total |
- |
- |
0.0 |
19.6 |
14.4 |
|
Income Tax - Total |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Defined Contribution Expense Retirement |
17.3 |
14.7 |
12.5 |
10.8 |
- |
|
Total Pension Expense |
17.3 |
14.7 |
12.5 |
10.8 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate |
0.385 |
0.385 |
0.38495 |
0.38505 |
0.385 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Consumables |
19.9 |
20.7 |
15.8 |
12.4 |
11.0 |
|
Work-in Progress for LT Contracts |
3.4 |
13.7 |
12.8 |
13.3 |
23.0 |
|
Trade & Other Rcvbls. |
286.9 |
243.6 |
225.6 |
223.5 |
154.8 |
|
Cash & Bank Balances |
97.0 |
58.3 |
79.7 |
39.0 |
41.5 |
|
Total Current Assets |
407.3 |
336.4 |
334.0 |
288.2 |
230.4 |
|
|
|
|
|
|
|
|
Freehold Land & Building |
240.8 |
232.1 |
128.2 |
117.0 |
97.1 |
|
Marine Vessels |
1,090.3 |
925.2 |
645.7 |
548.6 |
343.4 |
|
Jetty & Dock |
5.3 |
5.3 |
5.3 |
6.8 |
6.4 |
|
Machinery & Equipment |
102.8 |
89.3 |
77.8 |
66.9 |
57.9 |
|
Motor Vehicles |
8.2 |
7.7 |
6.6 |
6.1 |
5.3 |
|
Furniture & Fixtures |
7.1 |
5.9 |
4.8 |
4.4 |
5.4 |
|
Capital work-in Progress |
98.2 |
54.2 |
118.4 |
39.9 |
42.0 |
|
Depreciation |
-371.3 |
-302.7 |
-252.3 |
-209.4 |
-171.5 |
|
Goodwill, Net |
- |
- |
- |
- |
89.0 |
|
Intangible Assets |
101.0 |
100.9 |
88.4 |
88.4 |
- |
|
Investments |
5.0 |
4.5 |
3.5 |
6.3 |
6.6 |
|
Deferred Tax Asset |
3.3 |
1.2 |
3.2 |
3.2 |
4.4 |
|
Total Assets |
1,697.9 |
1,460.0 |
1,163.6 |
966.5 |
716.4 |
|
|
|
|
|
|
|
|
Trade & Other Payables |
193.5 |
162.1 |
168.2 |
176.6 |
156.2 |
|
Bank Borrowings |
21.4 |
9.1 |
9.1 |
7.3 |
2.0 |
|
Term Loans |
191.8 |
146.3 |
100.0 |
81.4 |
51.7 |
|
Total Current Liabilities |
406.8 |
317.4 |
277.4 |
265.3 |
209.9 |
|
|
|
|
|
|
|
|
Term Loans |
745.2 |
593.5 |
389.9 |
308.9 |
203.0 |
|
Total Long Term Debt |
745.2 |
593.5 |
389.9 |
308.9 |
203.0 |
|
|
|
|
|
|
|
|
LT Payables and Advances |
26.9 |
25.6 |
46.3 |
21.4 |
9.9 |
|
Staff Terminal Benefits |
17.3 |
14.7 |
12.5 |
10.8 |
9.5 |
|
Minority Interest |
69.3 |
61.1 |
53.0 |
34.8 |
12.3 |
|
Total Liabilities |
1,265.5 |
1,012.4 |
779.1 |
641.1 |
444.6 |
|
|
|
|
|
|
|
|
Share Capital |
73.3 |
73.3 |
73.3 |
63.7 |
57.9 |
|
Share Premium |
50.6 |
50.6 |
50.6 |
53.8 |
65.3 |
|
Treasury Shares |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
|
Legal Reserves |
28.0 |
27.5 |
27.1 |
23.6 |
20.8 |
|
Loan Reserve |
14.8 |
- |
- |
- |
- |
|
Proposed Distribution |
0.0 |
8.8 |
8.8 |
15.9 |
14.5 |
|
Retained Earnings |
274.7 |
292.2 |
229.1 |
172.6 |
116.8 |
|
Hedging Reserve |
-4.8 |
-0.6 |
-0.2 |
- |
- |
|
Exchange Loss-Investment in For. Subsid. |
0.3 |
0.3 |
0.3 |
0.2 |
0.8 |
|
Total Equity |
432.5 |
447.6 |
384.5 |
325.4 |
271.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,697.9 |
1,460.0 |
1,163.6 |
966.5 |
716.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Total Common Shares Outstanding |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
T/S-Common Stock |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Customer Advances |
3.0 |
5.4 |
1.9 |
2.9 |
9.9 |
|
Number of Shareholders |
4,854 |
4,890 |
5,204 |
5,212 |
4,985 |
|
Term Loans-1 Yr. or Less |
191.8 |
146.3 |
99.5 |
81.1 |
51.3 |
|
Term Loans-2 to 5 yrs. |
627.0 |
467.2 |
336.4 |
272.5 |
155.7 |
|
Term Loans-More than 5 yrs. |
118.1 |
126.3 |
50.8 |
36.5 |
47.1 |
|
Total Long Term Debt, Supplemental |
937.0 |
739.8 |
486.7 |
390.0 |
254.0 |
|
Finance Lease due within 1 Year |
- |
0.0 |
0.5 |
0.3 |
0.4 |
|
Finance Lease due within 1-5 Years |
- |
0.0 |
0.9 |
0.0 |
0.3 |
|
Finance Lease more than 5 Years |
- |
0.0 |
1.7 |
0.0 |
- |
|
Total Capital Leases |
- |
0.0 |
3.2 |
0.3 |
0.6 |
|
Operating Lease due within 1 Year |
18.2 |
22.1 |
18.0 |
17.1 |
15.7 |
|
Operating Lease due within 1-5 Years |
61.8 |
62.0 |
17.0 |
16.7 |
19.3 |
|
Operating Lease due more than 5 Years |
29.4 |
37.6 |
11.8 |
15.4 |
4.5 |
|
Optg leases-year 2 |
- |
- |
- |
97.9 |
- |
|
Total Operating Leases |
109.5 |
121.6 |
46.8 |
147.1 |
39.6 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385032 |
0.385008 |
0.384999 |
0.384956 |
0.384897 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts from Customers |
677.9 |
656.0 |
630.7 |
553.2 |
485.1 |
|
Cash Paid to Suppliers & Employees |
-566.0 |
-506.8 |
-484.6 |
-441.6 |
-373.6 |
|
Net Finance Costs |
-49.7 |
-27.3 |
-19.8 |
-19.2 |
-14.1 |
|
Income Tax Paid |
-12.1 |
-16.3 |
-6.9 |
-13.8 |
-14.4 |
|
Cash from Operating Activities |
50.1 |
105.5 |
119.5 |
78.6 |
83.0 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-214.5 |
-349.0 |
-186.5 |
-157.8 |
-116.0 |
|
Acquisition of Intangibles |
-0.1 |
-0.4 |
- |
- |
- |
|
Sale of Property/Plant/Equipment |
- |
- |
0.0 |
3.1 |
10.2 |
|
Purchase of Investments |
-0.2 |
- |
0.0 |
-2.2 |
- |
|
Acq- Subsidiary |
0.0 |
-15.5 |
0.0 |
-115.0 |
0.0 |
|
Sale of Investments |
- |
0.0 |
2.7 |
41.3 |
0.2 |
|
Dividend Received |
0.5 |
0.5 |
0.4 |
0.5 |
3.2 |
|
Cash from Investing Activities |
-214.3 |
-364.4 |
-183.4 |
-230.2 |
-102.4 |
|
|
|
|
|
|
|
|
Net Receipt-Term Loans |
197.2 |
249.9 |
99.5 |
138.2 |
53.5 |
|
Net Movement in Related Parties |
2.5 |
0.3 |
0.4 |
-1.9 |
7.4 |
|
Cash Dividends Paid |
-8.8 |
-8.8 |
-6.4 |
-8.7 |
-7.9 |
|
Funds Introduced by Minority Interests |
-0.3 |
-4.0 |
9.3 |
16.3 |
- |
|
Cash from Financing Activities |
190.6 |
237.5 |
102.8 |
143.8 |
53.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
26.4 |
-21.4 |
38.9 |
-7.8 |
33.5 |
|
|
|
|
|
|
|
|
Beginning Balance |
49.2 |
70.6 |
31.7 |
39.5 |
5.9 |
|
Ending Balance |
75.6 |
49.2 |
70.6 |
31.7 |
39.5 |
|
Cash Interest Paid |
49.7 |
27.3 |
19.8 |
19.2 |
14.1 |
|
Cash Taxes Paid |
12.1 |
16.3 |
6.9 |
13.8 |
14.4 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual
Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385032 |
0.385008 |
0.384999 |
0.384956 |
0.384897 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
|
Sale |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
|
Total Sale |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
|
|
|
|
|
|
|
|
Cost of Sale |
574.3 |
457.7 |
449.1 |
435.3 |
376.2 |
|
Cost of Sale, Total |
574.3 |
457.7 |
449.1 |
435.3 |
376.2 |
|
Gross Profit |
178.7 |
200.6 |
194.0 |
173.2 |
141.4 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
81.8 |
73.9 |
88.6 |
76.1 |
69.8 |
|
Total Selling/General/Administrative Expenses |
81.8 |
73.9 |
88.6 |
76.1 |
69.8 |
|
Amortization of Intangibles |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Depreciation/Amortization |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Total Operating Expense |
656.2 |
531.6 |
537.8 |
511.6 |
446.2 |
|
|
|
|
|
|
|
|
Operating Income |
96.8 |
126.6 |
105.3 |
97.0 |
71.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-49.7 |
-27.3 |
-21.4 |
-19.2 |
-14.1 |
|
Interest Expense, Net Non-Operating |
-49.7 |
-27.3 |
-21.4 |
-19.2 |
-14.1 |
|
Investment Income -
Non-Operating |
0.3 |
1.0 |
0.0 |
15.8 |
0.8 |
|
Interest/Investment Income - Non-Operating |
0.3 |
1.0 |
0.0 |
15.8 |
0.8 |
|
Interest Income (Expense) - Net Non-Operating Total |
-49.4 |
-26.4 |
-21.4 |
-3.4 |
-13.4 |
|
Other Non-Operating Income (Expense) |
-27.2 |
0.5 |
1.0 |
-7.0 |
- |
|
Other, Net |
-27.2 |
0.5 |
1.0 |
-7.0 |
- |
|
Income Before Tax |
20.1 |
100.7 |
84.9 |
86.6 |
58.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Income After Tax |
6.0 |
83.8 |
74.1 |
68.1 |
45.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-8.5 |
-12.0 |
-8.9 |
-6.0 |
-2.1 |
|
Net Income Before Extraord Items |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
Net Income |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Basic EPS Excl Extraord Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Basic/Primary EPS Incl Extraord Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Dilution Adjustment |
0.0 |
- |
- |
- |
- |
|
Diluted Net Income |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
Diluted Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Diluted EPS Excl Extraord Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Diluted EPS Incl Extraord Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.03 |
0.03 |
0.06 |
0.03 |
|
Gross Dividends - Common Stock |
0.0 |
8.8 |
8.8 |
6.4 |
8.7 |
|
Interest Expense, Supplemental |
49.7 |
27.3 |
21.4 |
19.2 |
14.1 |
|
Depreciation, Supplemental |
69.8 |
57.0 |
55.0 |
45.8 |
39.5 |
|
Normalized Income Before Tax |
20.1 |
100.7 |
84.9 |
86.6 |
58.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Normalized Income After Tax |
6.0 |
83.8 |
74.1 |
68.1 |
45.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Diluted Normalized EPS |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Amort of Intangibles, Supplemental |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Normalized EBIT |
96.8 |
126.6 |
105.3 |
97.0 |
71.4 |
|
Normalized EBITDA |
166.7 |
183.7 |
160.4 |
143.0 |
111.1 |
|
Current Tax - Local |
14.2 |
16.9 |
10.9 |
-1.1 |
-1.4 |
|
Current Tax - Total |
14.2 |
16.9 |
10.9 |
-1.1 |
-1.4 |
|
Deferred Tax - Local |
- |
- |
0.0 |
19.6 |
14.4 |
|
Deferred Tax - Total |
- |
- |
0.0 |
19.6 |
14.4 |
|
Income Tax - Total |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Defined Contribution Expense Retirement |
17.3 |
14.7 |
12.5 |
10.8 |
- |
|
Total Pension Expense |
17.3 |
14.7 |
12.5 |
10.8 |
- |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385046 |
0.385019 |
0.385015 |
0.385023 |
0.385072 |
|
|
|
|
|
|
|
|
Net Sales |
187.0 |
219.8 |
189.6 |
166.3 |
177.3 |
|
Sale |
187.0 |
219.8 |
189.6 |
166.3 |
177.3 |
|
Total Sale |
187.0 |
219.8 |
189.6 |
166.3 |
177.3 |
|
|
|
|
|
|
|
|
Cost of Sale |
150.1 |
166.3 |
147.0 |
128.3 |
132.7 |
|
Cost of Sale, Total |
150.1 |
166.3 |
147.0 |
128.3 |
132.7 |
|
Gross Profit |
36.9 |
53.5 |
42.6 |
38.0 |
44.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
19.2 |
22.0 |
20.6 |
19.3 |
20.0 |
|
Total Selling/General/Administrative Expenses |
19.2 |
22.0 |
20.6 |
19.3 |
20.0 |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation/Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Operating Expense |
169.3 |
188.3 |
167.6 |
147.6 |
152.7 |
|
|
|
|
|
|
|
|
Operating Income |
17.7 |
31.5 |
22.0 |
18.7 |
24.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-12.6 |
-13.1 |
-12.4 |
-11.3 |
-10.4 |
|
Interest Expense, Net Non-Operating |
-12.6 |
-13.1 |
-12.4 |
-11.3 |
-10.4 |
|
Investment Income -
Non-Operating |
0.0 |
0.3 |
- |
- |
- |
|
Interest/Investment Income - Non-Operating |
0.0 |
0.3 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-12.7 |
-12.8 |
-12.4 |
-11.3 |
-10.4 |
|
Other Non-Operating Income (Expense) |
5.2 |
-26.6 |
0.4 |
1.7 |
-5.2 |
|
Other, Net |
5.2 |
-26.6 |
0.4 |
1.7 |
-5.2 |
|
Income Before Tax |
10.2 |
-8.0 |
10.0 |
9.1 |
9.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
5.0 |
-0.3 |
5.1 |
4.8 |
4.6 |
|
Income After Tax |
5.2 |
-7.7 |
4.9 |
4.3 |
4.4 |
|
|
|
|
|
|
|
|
Minority Interest |
-3.2 |
-3.7 |
-1.9 |
-0.9 |
-2.0 |
|
Net Income Before Extraord Items |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
Net Income |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Basic EPS Excl Extraord Items |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Basic/Primary EPS Incl Extraord Items |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Dilution Adjustment |
- |
0.0 |
- |
- |
- |
|
Diluted Net Income |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
Diluted Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Diluted EPS Excl Extraord Items |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Diluted EPS Incl Extraord Items |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
12.6 |
15.6 |
12.4 |
11.3 |
10.4 |
|
Normalized Income Before Tax |
10.2 |
-8.0 |
10.0 |
9.1 |
9.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
5.0 |
-0.3 |
5.1 |
4.8 |
4.6 |
|
Normalized Income After Tax |
5.2 |
-7.7 |
4.9 |
4.3 |
4.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Diluted Normalized EPS |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized EBIT |
17.7 |
31.5 |
22.0 |
18.7 |
24.6 |
|
Normalized EBITDA |
17.7 |
31.5 |
22.0 |
18.7 |
24.6 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate |
0.385 |
0.385 |
0.38495 |
0.38505 |
0.385 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
97.0 |
58.3 |
79.7 |
39.0 |
41.5 |
|
Short Term Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Cash and Short Term Investments |
97.1 |
58.3 |
79.8 |
39.0 |
41.6 |
|
Trade Accounts Receivable - Net |
286.9 |
243.6 |
225.6 |
223.5 |
154.8 |
|
Total Receivables, Net |
286.9 |
243.6 |
225.6 |
223.5 |
154.8 |
|
Inventories - Work In Progress |
3.4 |
13.7 |
12.8 |
13.3 |
23.0 |
|
Inventories - Other |
19.9 |
20.7 |
15.8 |
12.4 |
11.0 |
|
Total Inventory |
23.4 |
34.5 |
28.7 |
25.7 |
34.0 |
|
Total Current Assets |
407.3 |
336.4 |
334.0 |
288.2 |
230.4 |
|
|
|
|
|
|
|
|
Land/Improvements |
240.8 |
232.1 |
128.2 |
117.0 |
97.1 |
|
Machinery/Equipment |
1,213.7 |
1,033.4 |
740.3 |
632.8 |
418.4 |
|
Construction in
Progress |
98.2 |
54.2 |
118.4 |
39.9 |
42.0 |
|
Property/Plant/Equipment - Gross |
1,552.7 |
1,319.7 |
986.8 |
789.7 |
557.5 |
|
Accumulated Depreciation |
-371.3 |
-302.7 |
-252.3 |
-209.4 |
-171.5 |
|
Property/Plant/Equipment - Net |
1,181.4 |
1,017.0 |
734.5 |
580.3 |
386.0 |
|
Goodwill, Net |
- |
- |
- |
- |
89.0 |
|
Intangibles, Net |
101.0 |
100.9 |
88.4 |
88.4 |
- |
|
LT Investments - Other |
5.0 |
4.5 |
3.5 |
6.3 |
6.6 |
|
Long Term Investments |
5.0 |
4.5 |
3.5 |
6.3 |
6.6 |
|
Deferred Income Tax - Long Term Asset |
3.3 |
1.2 |
3.2 |
3.2 |
4.4 |
|
Other Long Term Assets, Total |
3.3 |
1.2 |
3.2 |
3.2 |
4.4 |
|
Total Assets |
1,697.9 |
1,460.0 |
1,163.6 |
966.5 |
716.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
193.5 |
162.1 |
168.2 |
176.6 |
156.2 |
|
Notes Payable/Short Term Debt |
21.4 |
9.1 |
9.1 |
7.3 |
2.0 |
|
Current Portion - Long Term Debt/Capital Leases |
191.8 |
146.3 |
100.0 |
81.4 |
51.7 |
|
Total Current Liabilities |
406.8 |
317.4 |
277.4 |
265.3 |
209.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
745.2 |
593.5 |
389.9 |
308.9 |
203.0 |
|
Total Long Term Debt |
745.2 |
593.5 |
389.9 |
308.9 |
203.0 |
|
Total Debt |
958.4 |
748.8 |
499.0 |
397.6 |
256.7 |
|
|
|
|
|
|
|
|
Minority Interest |
69.3 |
61.1 |
53.0 |
34.8 |
12.3 |
|
Pension Benefits - Underfunded |
17.3 |
14.7 |
12.5 |
10.8 |
9.5 |
|
Other Long Term Liabilities |
26.9 |
25.6 |
46.3 |
21.4 |
9.9 |
|
Other Liabilities, Total |
44.2 |
40.4 |
58.9 |
32.2 |
19.3 |
|
Total Liabilities |
1,265.5 |
1,012.4 |
779.1 |
641.1 |
444.6 |
|
|
|
|
|
|
|
|
Common Stock |
73.3 |
73.3 |
73.3 |
63.7 |
57.9 |
|
Common Stock |
73.3 |
73.3 |
73.3 |
63.7 |
57.9 |
|
Additional Paid-In Capital |
50.6 |
50.6 |
50.6 |
53.8 |
65.3 |
|
Retained Earnings (Accumulated Deficit) |
317.8 |
328.7 |
265.2 |
212.3 |
153.0 |
|
Treasury Stock - Common |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
|
Other Comprehensive Income |
-4.8 |
-0.6 |
-0.2 |
- |
- |
|
Other Equity, Total |
-4.8 |
-0.6 |
-0.2 |
- |
- |
|
Total Equity |
432.5 |
447.6 |
384.5 |
325.4 |
271.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,697.9 |
1,460.0 |
1,163.6 |
966.5 |
716.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Total Common Shares Outstanding |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Treasury Shares - Common Stock Primary Issue |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Number of Common Shareholders |
4,854 |
4,890 |
5,204 |
5,212 |
4,985 |
|
Deferred Sale - Long Term |
3.0 |
5.4 |
1.9 |
2.9 |
9.9 |
|
Total Long Term Debt, Supplemental |
937.0 |
739.8 |
486.7 |
390.0 |
254.0 |
|
Long Term Debt Maturing within 1 Year |
191.8 |
146.3 |
99.5 |
81.1 |
51.3 |
|
Long Term Debt Maturing in Year 2 |
156.8 |
116.8 |
84.1 |
68.1 |
38.9 |
|
Long Term Debt Maturing in Year 3 |
156.8 |
116.8 |
84.1 |
68.1 |
38.9 |
|
Long Term Debt Maturing in Year 4 |
156.8 |
116.8 |
84.1 |
68.1 |
38.9 |
|
Long Term Debt Maturing in Year 5 |
156.8 |
116.8 |
84.1 |
68.1 |
38.9 |
|
Long Term Debt Maturing in 2-3 Years |
313.5 |
233.6 |
168.2 |
136.2 |
77.8 |
|
Long Term Debt Maturing in 4-5 Years |
313.5 |
233.6 |
168.2 |
136.2 |
77.8 |
|
Long Term Debt Matur. in Year 6 & Beyond |
118.1 |
126.3 |
50.8 |
36.5 |
47.1 |
|
Total Capital Leases, Supplemental |
- |
0.0 |
3.2 |
0.3 |
0.6 |
|
Capital Lease Payments Due in Year 1 |
- |
0.0 |
0.5 |
0.3 |
0.4 |
|
Capital Lease Payments Due in Year 2 |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
Capital Lease Payments Due in Year 3 |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
Capital Lease Payments Due in Year 4 |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
Capital Lease Payments Due in Year 5 |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
Capital Lease Payments Due in 2-3 Years |
- |
0.0 |
0.5 |
0.0 |
0.1 |
|
Capital Lease Payments Due in 4-5 Years |
- |
0.0 |
0.5 |
0.0 |
0.1 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
0.0 |
1.7 |
0.0 |
- |
|
Total Operating Leases, Supplemental |
109.5 |
121.6 |
46.8 |
147.1 |
39.6 |
|
Operating Lease Payments Due in Year 1 |
18.2 |
22.1 |
18.0 |
17.1 |
15.7 |
|
Operating Lease Payments Due in Year 2 |
15.5 |
15.5 |
4.2 |
97.9 |
4.8 |
|
Operating Lease Payments Due in Year 3 |
15.5 |
15.5 |
4.2 |
5.6 |
4.8 |
|
Operating Lease Payments Due in Year 4 |
15.5 |
15.5 |
4.2 |
5.6 |
4.8 |
|
Operating Lease Payments Due in Year 5 |
15.5 |
15.5 |
4.2 |
5.6 |
4.8 |
|
Operating Lease Pymts. Due in 2-3 Years |
30.9 |
31.0 |
8.5 |
103.5 |
9.7 |
|
Operating Lease Pymts. Due in 4-5 Years |
30.9 |
31.0 |
8.5 |
11.1 |
9.7 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
29.4 |
37.6 |
11.8 |
15.4 |
4.5 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate |
0.385025 |
0.385 |
0.38505 |
0.38505 |
0.385 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
61.3 |
97.0 |
76.5 |
69.8 |
96.7 |
|
Short Term Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash and Short Term Investments |
61.3 |
97.1 |
76.6 |
69.8 |
96.8 |
|
Accounts Receivable -
Trade, Gross |
279.5 |
- |
294.9 |
279.5 |
282.6 |
|
Provision for Doubtful
Accounts |
-10.7 |
- |
-10.3 |
-9.2 |
-9.7 |
|
Trade Accounts Receivable - Net |
268.8 |
286.9 |
284.5 |
270.4 |
272.9 |
|
Other Receivables |
0.5 |
- |
2.1 |
3.3 |
14.4 |
|
Total Receivables, Net |
269.3 |
286.9 |
286.6 |
273.6 |
287.4 |
|
Inventories - Finished Goods |
8.5 |
- |
7.8 |
7.9 |
7.7 |
|
Inventories - Work In Progress |
17.3 |
3.4 |
40.5 |
39.2 |
27.3 |
|
Inventories - Other |
11.7 |
19.9 |
12.1 |
12.6 |
21.4 |
|
Total Inventory |
37.5 |
23.4 |
60.4 |
59.7 |
56.3 |
|
Total Current Assets |
368.2 |
407.3 |
423.6 |
403.1 |
440.5 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
1,183.5 |
1,181.4 |
1,123.3 |
1,072.1 |
1,047.2 |
|
Intangibles, Net |
100.9 |
101.0 |
100.6 |
101.0 |
101.0 |
|
LT Investments - Other |
5.0 |
5.0 |
4.7 |
4.5 |
4.5 |
|
Long Term Investments |
5.0 |
5.0 |
4.7 |
4.5 |
4.5 |
|
Deferred Income Tax - Long Term Asset |
3.0 |
3.3 |
1.5 |
1.2 |
1.2 |
|
Other Long Term Assets, Total |
3.0 |
3.3 |
1.5 |
1.2 |
1.2 |
|
Total Assets |
1,660.6 |
1,697.9 |
1,653.7 |
1,581.8 |
1,594.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
192.4 |
193.5 |
184.4 |
172.8 |
203.6 |
|
Notes Payable/Short Term Debt |
20.9 |
21.4 |
35.5 |
23.1 |
12.8 |
|
Current Portion - Long Term Debt/Capital Leases |
195.3 |
191.8 |
202.3 |
165.1 |
170.9 |
|
Dividends Payable |
0.0 |
- |
- |
- |
8.8 |
|
Other Current liabilities, Total |
0.0 |
- |
- |
- |
8.8 |
|
Total Current Liabilities |
408.6 |
406.8 |
422.2 |
361.0 |
396.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
704.4 |
745.2 |
676.8 |
668.0 |
650.4 |
|
Total Long Term Debt |
704.4 |
745.2 |
676.8 |
668.0 |
650.4 |
|
Total Debt |
920.6 |
958.4 |
914.6 |
856.2 |
834.0 |
|
|
|
|
|
|
|
|
Minority Interest |
72.3 |
69.3 |
65.9 |
64.0 |
63.1 |
|
Pension Benefits - Underfunded |
17.5 |
17.3 |
16.9 |
16.1 |
15.4 |
|
Other Long Term Liabilities |
22.8 |
26.9 |
28.6 |
30.1 |
28.9 |
|
Other Liabilities, Total |
40.3 |
44.2 |
45.5 |
46.2 |
44.3 |
|
Total Liabilities |
1,225.6 |
1,265.5 |
1,210.3 |
1,139.2 |
1,153.8 |
|
|
|
|
|
|
|
|
Common Stock |
73.3 |
73.3 |
73.3 |
73.3 |
73.3 |
|
Common Stock |
73.3 |
73.3 |
73.3 |
73.3 |
73.3 |
|
Additional Paid-In Capital |
50.6 |
50.6 |
50.6 |
50.6 |
50.6 |
|
Retained Earnings (Accumulated Deficit) |
320.2 |
317.8 |
323.5 |
325.6 |
322.3 |
|
Treasury Stock - Common |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
|
Other Equity |
- |
- |
0.5 |
0.5 |
- |
|
Other Comprehensive Income |
-4.7 |
-4.8 |
- |
-2.8 |
-1.2 |
|
Other Equity, Total |
-4.7 |
-4.8 |
0.5 |
-2.4 |
-1.2 |
|
Total Equity |
434.9 |
432.5 |
443.4 |
442.7 |
440.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,660.6 |
1,697.9 |
1,653.7 |
1,581.8 |
1,594.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Total Common Shares Outstanding |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Treasury Shares - Common Stock Primary Issue |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Number of Common Shareholders |
- |
4,854 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
899.7 |
937.0 |
879.1 |
833.1 |
821.3 |
|
Long Term Debt Maturing within 1 Year |
195.3 |
191.8 |
202.3 |
165.1 |
170.9 |
|
Long Term Debt Maturing in Year 2 |
- |
156.8 |
- |
- |
- |
|
Long Term Debt Maturing in Year 3 |
- |
156.8 |
- |
- |
- |
|
Long Term Debt Maturing in Year 4 |
- |
156.8 |
- |
- |
- |
|
Long Term Debt Maturing in Year 5 |
- |
156.8 |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
- |
313.5 |
- |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
- |
313.5 |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
704.4 |
118.1 |
676.8 |
668.0 |
650.4 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385032 |
0.385008 |
0.384999 |
0.384956 |
0.384897 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Other Non-Cash Items |
111.9 |
149.1 |
146.1 |
111.6 |
111.5 |
|
Non-Cash Items |
111.9 |
149.1 |
146.1 |
111.6 |
111.5 |
|
Other Operating Cash Flow |
-61.8 |
-43.6 |
-26.7 |
-33.0 |
-28.5 |
|
Changes in Working Capital |
-61.8 |
-43.6 |
-26.7 |
-33.0 |
-28.5 |
|
Cash from Operating Activities |
50.1 |
105.5 |
119.5 |
78.6 |
83.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-214.5 |
-349.0 |
-186.5 |
-157.8 |
-116.0 |
|
Purchase/Acquisition of Intangibles |
-0.1 |
-0.4 |
- |
- |
- |
|
Capital Expenditures |
-214.6 |
-349.4 |
-186.5 |
-157.8 |
-116.0 |
|
Acquisition of Business |
0.0 |
-15.5 |
0.0 |
-115.0 |
0.0 |
|
Sale of Fixed Assets |
- |
- |
0.0 |
3.1 |
10.2 |
|
Sale/Maturity of Investment |
- |
0.0 |
2.7 |
41.3 |
0.2 |
|
Purchase of Investments |
-0.2 |
- |
0.0 |
-2.2 |
- |
|
Other Investing Cash Flow |
0.5 |
0.5 |
0.4 |
0.5 |
3.2 |
|
Other Investing Cash Flow Items, Total |
0.3 |
-15.0 |
3.1 |
-72.4 |
13.6 |
|
Cash from Investing Activities |
-214.3 |
-364.4 |
-183.4 |
-230.2 |
-102.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
2.2 |
-3.6 |
9.7 |
14.3 |
7.4 |
|
Financing Cash Flow Items |
2.2 |
-3.6 |
9.7 |
14.3 |
7.4 |
|
Cash Dividends Paid - Common |
-8.8 |
-8.8 |
-6.4 |
-8.7 |
-7.9 |
|
Total Cash Dividends Paid |
-8.8 |
-8.8 |
-6.4 |
-8.7 |
-7.9 |
|
Long Term Debt, Net |
197.2 |
249.9 |
99.5 |
138.2 |
53.5 |
|
Issuance (Retirement) of Debt, Net |
197.2 |
249.9 |
99.5 |
138.2 |
53.5 |
|
Cash from Financing Activities |
190.6 |
237.5 |
102.8 |
143.8 |
53.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
26.4 |
-21.4 |
38.9 |
-7.8 |
33.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
49.2 |
70.6 |
31.7 |
39.5 |
5.9 |
|
Net Cash - Ending Balance |
75.6 |
49.2 |
70.6 |
31.7 |
39.5 |
|
Cash Interest Paid |
49.7 |
27.3 |
19.8 |
19.2 |
14.1 |
|
Cash Taxes Paid |
12.1 |
16.3 |
6.9 |
13.8 |
14.4 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385046 |
0.385032 |
0.385036 |
0.385048 |
0.385072 |
|
|
|
|
|
|
|
|
Other Non-Cash Items |
40.3 |
111.9 |
47.8 |
21.6 |
27.5 |
|
Non-Cash Items |
40.3 |
111.9 |
47.8 |
21.6 |
27.5 |
|
Other Operating Cash Flow |
-22.0 |
-61.8 |
-46.1 |
-31.0 |
-18.4 |
|
Changes in Working Capital |
-22.0 |
-61.8 |
-46.1 |
-31.0 |
-18.4 |
|
Cash from Operating Activities |
18.3 |
50.1 |
1.8 |
-9.4 |
9.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
- |
-214.5 |
- |
- |
- |
|
Purchase/Acquisition of Intangibles |
- |
-0.1 |
- |
- |
- |
|
Capital Expenditures |
- |
-214.6 |
- |
- |
- |
|
Acquisition of Business |
- |
0.0 |
- |
- |
- |
|
Purchase of Investments |
- |
-0.2 |
- |
- |
- |
|
Other Investing Cash Flow |
-17.4 |
0.5 |
-142.7 |
-78.3 |
-44.2 |
|
Other Investing Cash Flow Items, Total |
-17.4 |
0.3 |
-142.7 |
-78.3 |
-44.2 |
|
Cash from Investing Activities |
-17.4 |
-214.3 |
-142.7 |
-78.3 |
-44.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-36.2 |
2.2 |
132.7 |
85.1 |
69.9 |
|
Financing Cash Flow Items |
-36.2 |
2.2 |
132.7 |
85.1 |
69.9 |
|
Cash Dividends Paid - Common |
- |
-8.8 |
- |
- |
- |
|
Total Cash Dividends Paid |
- |
-8.8 |
- |
- |
- |
|
Long Term Debt, Net |
- |
197.2 |
- |
- |
- |
|
Issuance (Retirement) of Debt, Net |
- |
197.2 |
- |
- |
- |
|
Cash from Financing Activities |
-36.2 |
190.6 |
132.7 |
85.1 |
69.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-35.2 |
26.4 |
-8.1 |
-2.6 |
34.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
75.6 |
49.2 |
49.2 |
49.2 |
49.2 |
|
Net Cash - Ending Balance |
40.4 |
75.6 |
41.1 |
46.6 |
83.9 |
|
Cash Interest Paid |
13.1 |
49.7 |
35.3 |
22.4 |
13.8 |
|
Cash Taxes Paid |
8.8 |
12.1 |
10.8 |
8.6 |
4.6 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385032 |
0.385008 |
0.384999 |
0.384956 |
0.384897 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sale |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
|
Total Sale |
753.0 |
658.2 |
643.1 |
608.5 |
517.6 |
|
|
|
|
|
|
|
|
Cost of Sale |
574.3 |
457.7 |
449.1 |
435.3 |
376.2 |
|
Administrative Expenses |
81.8 |
73.9 |
88.6 |
76.1 |
69.8 |
|
Intangibles Amortisation |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Total Operating Expense |
656.2 |
531.6 |
537.8 |
511.6 |
446.2 |
|
|
|
|
|
|
|
|
Interest Expense |
-49.7 |
-27.3 |
-21.4 |
-19.2 |
-14.1 |
|
Other non-operating expenses |
-29.7 |
- |
- |
- |
- |
|
Provision for Derivative Used for Hedgin |
2.5 |
0.5 |
1.0 |
-7.0 |
- |
|
Net Gains on Investments |
0.0 |
0.0 |
0.0 |
16.3 |
0.0 |
|
Share of Profit from an Assoc. Co. |
0.3 |
1.0 |
0.0 |
-0.5 |
0.8 |
|
Net Income Before Taxes |
20.1 |
100.7 |
84.9 |
86.6 |
58.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Net Income After Taxes |
6.0 |
83.8 |
74.1 |
68.1 |
45.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-8.5 |
-12.0 |
-8.9 |
-6.0 |
-2.1 |
|
Net Income Before Extra. Items |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
Net Income |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Basic EPS Including ExtraOrdinary Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Dilution Adjustment |
0.0 |
- |
- |
- |
- |
|
Diluted Net Income |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
Diluted Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Diluted EPS Including ExtraOrd Items |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
DPS-Common Stock |
0.00 |
0.03 |
0.03 |
0.06 |
0.03 |
|
Gross Dividends - Common Stock |
0.0 |
8.8 |
8.8 |
6.4 |
8.7 |
|
Normalized Income Before Taxes |
20.1 |
100.7 |
84.9 |
86.6 |
58.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Normalized Income After Taxes |
6.0 |
83.8 |
74.1 |
68.1 |
45.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-2.6 |
71.8 |
65.2 |
62.1 |
42.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Diluted Normalized EPS |
-0.01 |
0.27 |
0.24 |
0.23 |
0.16 |
|
Interest Expenses |
49.7 |
27.3 |
21.4 |
19.2 |
14.1 |
|
Amortisation |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Depreciation |
69.8 |
57.0 |
55.0 |
45.8 |
39.5 |
|
Current Tax |
14.2 |
16.9 |
10.9 |
-1.1 |
-1.4 |
|
Current Tax - Total |
14.2 |
16.9 |
10.9 |
-1.1 |
-1.4 |
|
Deferred Tax |
- |
- |
0.0 |
19.6 |
14.4 |
|
Deferred Tax - Total |
- |
- |
0.0 |
19.6 |
14.4 |
|
Income Tax - Total |
14.2 |
16.9 |
10.9 |
18.5 |
13.0 |
|
Defined Contribution Expense Retirement |
17.3 |
14.7 |
12.5 |
10.8 |
- |
|
Total Pension Expense |
17.3 |
14.7 |
12.5 |
10.8 |
- |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385046 |
0.385019 |
0.385015 |
0.385023 |
0.385072 |
|
|
|
|
|
|
|
|
Sale |
187.0 |
219.8 |
189.6 |
166.3 |
177.3 |
|
Total Sale |
187.0 |
219.8 |
189.6 |
166.3 |
177.3 |
|
|
|
|
|
|
|
|
Cost of Sale |
150.1 |
166.3 |
147.0 |
128.3 |
132.7 |
|
Administrative Expenses |
19.2 |
22.0 |
20.6 |
19.3 |
20.0 |
|
Amortisation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Operating Expense |
169.3 |
188.3 |
167.6 |
147.6 |
152.7 |
|
|
|
|
|
|
|
|
Finance Cost |
-12.6 |
-13.1 |
-12.4 |
-11.3 |
-10.4 |
|
Net Gains on Investments |
- |
0.0 |
- |
- |
- |
|
Other Income |
5.2 |
-1.8 |
0.4 |
0.7 |
0.7 |
|
Provision for Contract Cancellation |
0.0 |
-24.9 |
0.0 |
1.0 |
-5.8 |
|
Share of Profit from an Assoc. Co. |
0.0 |
0.3 |
- |
- |
- |
|
Net Income Before Taxes |
10.2 |
-8.0 |
10.0 |
9.1 |
9.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
5.0 |
-0.3 |
5.1 |
4.8 |
4.6 |
|
Net Income After Taxes |
5.2 |
-7.7 |
4.9 |
4.3 |
4.4 |
|
|
|
|
|
|
|
|
Minority Interest |
-3.2 |
-3.7 |
-1.9 |
-0.9 |
-2.0 |
|
Net Income Before Extra. Items |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
Net Income |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Basic EPS Including ExtraOrdinary Items |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Dilution Adjustment |
- |
0.0 |
- |
- |
- |
|
Diluted Net Income |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
Diluted Weighted Average Shares |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
10.2 |
-8.0 |
10.0 |
9.1 |
9.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
5.0 |
-0.3 |
5.1 |
4.8 |
4.6 |
|
Normalized Income After Taxes |
5.2 |
-7.7 |
4.9 |
4.3 |
4.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
2.0 |
-11.4 |
3.0 |
3.4 |
2.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Diluted Normalized EPS |
0.01 |
-0.04 |
0.01 |
0.01 |
0.01 |
|
Interest Expenses |
12.6 |
15.6 |
12.4 |
11.3 |
10.4 |
|
Amortisation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate |
0.385 |
0.385 |
0.38495 |
0.38505 |
0.385 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Consumables |
19.9 |
20.7 |
15.8 |
12.4 |
11.0 |
|
Work-in Progress for LT Contracts |
3.4 |
13.7 |
12.8 |
13.3 |
23.0 |
|
Trade & Other Rcvbls. |
286.9 |
243.6 |
225.6 |
223.5 |
154.8 |
|
Cash & Bank Balances |
97.0 |
58.3 |
79.7 |
39.0 |
41.5 |
|
Total Current Assets |
407.3 |
336.4 |
334.0 |
288.2 |
230.4 |
|
|
|
|
|
|
|
|
Freehold Land & Building |
240.8 |
232.1 |
128.2 |
117.0 |
97.1 |
|
Marine Vessels |
1,090.3 |
925.2 |
645.7 |
548.6 |
343.4 |
|
Jetty & Dock |
5.3 |
5.3 |
5.3 |
6.8 |
6.4 |
|
Machinery & Equipment |
102.8 |
89.3 |
77.8 |
66.9 |
57.9 |
|
Motor Vehicles |
8.2 |
7.7 |
6.6 |
6.1 |
5.3 |
|
Furniture & Fixtures |
7.1 |
5.9 |
4.8 |
4.4 |
5.4 |
|
Capital work-in Progress |
98.2 |
54.2 |
118.4 |
39.9 |
42.0 |
|
Depreciation |
-371.3 |
-302.7 |
-252.3 |
-209.4 |
-171.5 |
|
Goodwill, Net |
- |
- |
- |
- |
89.0 |
|
Intangible Assets |
101.0 |
100.9 |
88.4 |
88.4 |
- |
|
Investments |
5.0 |
4.5 |
3.5 |
6.3 |
6.6 |
|
Deferred Tax Asset |
3.3 |
1.2 |
3.2 |
3.2 |
4.4 |
|
Total Assets |
1,697.9 |
1,460.0 |
1,163.6 |
966.5 |
716.4 |
|
|
|
|
|
|
|
|
Trade & Other Payables |
193.5 |
162.1 |
168.2 |
176.6 |
156.2 |
|
Bank Borrowings |
21.4 |
9.1 |
9.1 |
7.3 |
2.0 |
|
Term Loans |
191.8 |
146.3 |
100.0 |
81.4 |
51.7 |
|
Total Current Liabilities |
406.8 |
317.4 |
277.4 |
265.3 |
209.9 |
|
|
|
|
|
|
|
|
Term Loans |
745.2 |
593.5 |
389.9 |
308.9 |
203.0 |
|
Total Long Term Debt |
745.2 |
593.5 |
389.9 |
308.9 |
203.0 |
|
|
|
|
|
|
|
|
LT Payables and Advances |
26.9 |
25.6 |
46.3 |
21.4 |
9.9 |
|
Staff Terminal Benefits |
17.3 |
14.7 |
12.5 |
10.8 |
9.5 |
|
Minority Interest |
69.3 |
61.1 |
53.0 |
34.8 |
12.3 |
|
Total Liabilities |
1,265.5 |
1,012.4 |
779.1 |
641.1 |
444.6 |
|
|
|
|
|
|
|
|
Share Capital |
73.3 |
73.3 |
73.3 |
63.7 |
57.9 |
|
Share Premium |
50.6 |
50.6 |
50.6 |
53.8 |
65.3 |
|
Treasury Shares |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
|
Legal Reserves |
28.0 |
27.5 |
27.1 |
23.6 |
20.8 |
|
Loan Reserve |
14.8 |
- |
- |
- |
- |
|
Proposed Distribution |
0.0 |
8.8 |
8.8 |
15.9 |
14.5 |
|
Retained Earnings |
274.7 |
292.2 |
229.1 |
172.6 |
116.8 |
|
Hedging Reserve |
-4.8 |
-0.6 |
-0.2 |
- |
- |
|
Exchange Loss-Investment in For. Subsid. |
0.3 |
0.3 |
0.3 |
0.2 |
0.8 |
|
Total Equity |
432.5 |
447.6 |
384.5 |
325.4 |
271.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,697.9 |
1,460.0 |
1,163.6 |
966.5 |
716.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Total Common Shares Outstanding |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
T/S-Common Stock |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Customer Advances |
3.0 |
5.4 |
1.9 |
2.9 |
9.9 |
|
Number of Shareholders |
4,854 |
4,890 |
5,204 |
5,212 |
4,985 |
|
Term Loans-1 Yr. or Less |
191.8 |
146.3 |
99.5 |
81.1 |
51.3 |
|
Term Loans-2 to 5 yrs. |
627.0 |
467.2 |
336.4 |
272.5 |
155.7 |
|
Term Loans-More than 5 yrs. |
118.1 |
126.3 |
50.8 |
36.5 |
47.1 |
|
Total Long Term Debt, Supplemental |
937.0 |
739.8 |
486.7 |
390.0 |
254.0 |
|
Finance Lease due within 1 Year |
- |
0.0 |
0.5 |
0.3 |
0.4 |
|
Finance Lease due within 1-5 Years |
- |
0.0 |
0.9 |
0.0 |
0.3 |
|
Finance Lease more than 5 Years |
- |
0.0 |
1.7 |
0.0 |
- |
|
Total Capital Leases |
- |
0.0 |
3.2 |
0.3 |
0.6 |
|
Operating Lease due within 1 Year |
18.2 |
22.1 |
18.0 |
17.1 |
15.7 |
|
Operating Lease due within 1-5 Years |
61.8 |
62.0 |
17.0 |
16.7 |
19.3 |
|
Operating Lease due more than 5 Years |
29.4 |
37.6 |
11.8 |
15.4 |
4.5 |
|
Optg leases-year 2 |
- |
- |
- |
97.9 |
- |
|
Total Operating Leases |
109.5 |
121.6 |
46.8 |
147.1 |
39.6 |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate |
0.385025 |
0.385 |
0.38505 |
0.38505 |
0.385 |
|
|
|
|
|
|
|
|
Catering Stock |
8.5 |
- |
7.8 |
7.9 |
7.7 |
|
Spares |
14.1 |
- |
13.8 |
14.3 |
23.0 |
|
Consumables |
- |
19.9 |
- |
- |
- |
|
Less:Prov-Slow Moving & Obsolete Items |
-2.4 |
- |
-1.7 |
-1.8 |
-1.6 |
|
Work-in Progress for LT Contracts |
17.3 |
3.4 |
40.5 |
39.2 |
27.3 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Trade & Other Rcvbls., Net |
- |
286.9 |
- |
- |
- |
|
Trade & Other Rcvbls., Gross |
279.5 |
- |
294.9 |
279.5 |
282.6 |
|
Provisions |
-10.7 |
- |
-10.3 |
-9.2 |
-9.7 |
|
Rcvbls from Related Parties |
0.5 |
- |
2.1 |
3.3 |
14.4 |
|
Cash & Bank Balances |
61.3 |
97.0 |
76.5 |
69.8 |
96.7 |
|
Total Current Assets |
368.2 |
407.3 |
423.6 |
403.1 |
440.5 |
|
|
|
|
|
|
|
|
Fixed Assets |
1,183.5 |
1,181.4 |
1,123.3 |
1,072.1 |
1,047.2 |
|
Intangible Assets |
100.9 |
101.0 |
100.6 |
101.0 |
101.0 |
|
Investments |
5.0 |
5.0 |
4.7 |
4.5 |
4.5 |
|
Deferred Tax Asset |
3.0 |
3.3 |
1.5 |
1.2 |
1.2 |
|
Total Assets |
1,660.6 |
1,697.9 |
1,653.7 |
1,581.8 |
1,594.3 |
|
|
|
|
|
|
|
|
Trade & Other Payables |
188.9 |
193.5 |
181.0 |
169.8 |
201.5 |
|
Payable to Related Parties |
3.5 |
- |
3.4 |
3.0 |
2.1 |
|
Bank Borrowings |
20.9 |
21.4 |
35.5 |
23.1 |
12.8 |
|
Term Loans |
195.3 |
191.8 |
202.3 |
165.1 |
170.9 |
|
Dividend Payables |
0.0 |
- |
- |
- |
8.8 |
|
Total Current Liabilities |
408.6 |
406.8 |
422.2 |
361.0 |
396.1 |
|
|
|
|
|
|
|
|
Term Loans |
704.4 |
745.2 |
676.8 |
668.0 |
650.4 |
|
Total Long Term Debt |
704.4 |
745.2 |
676.8 |
668.0 |
650.4 |
|
|
|
|
|
|
|
|
LT Advances and Facilities |
22.8 |
- |
28.6 |
- |
28.9 |
|
LT Payables |
- |
26.9 |
- |
30.1 |
- |
|
Staff Terminal Benefits |
17.5 |
17.3 |
16.9 |
16.1 |
15.4 |
|
Minority Interest |
72.3 |
69.3 |
65.9 |
64.0 |
63.1 |
|
Total Liabilities |
1,225.6 |
1,265.5 |
1,210.3 |
1,139.2 |
1,153.8 |
|
|
|
|
|
|
|
|
Share Capital |
73.3 |
73.3 |
73.3 |
73.3 |
73.3 |
|
Treasury Shares |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
-4.4 |
|
Share Premium |
50.6 |
50.6 |
50.6 |
50.6 |
50.6 |
|
Legal Reserves |
28.0 |
28.0 |
27.5 |
27.5 |
27.5 |
|
Loan Reserved |
14.8 |
14.8 |
- |
- |
- |
|
Retained Earnings |
274.6 |
274.7 |
292.1 |
292.1 |
292.2 |
|
Exchange Loss-Investment in For. Subsid. |
0.7 |
0.3 |
0.2 |
0.1 |
0.2 |
|
Hedging Reserve |
-4.7 |
-4.8 |
- |
-2.8 |
-1.2 |
|
Income on Treasury Shares |
- |
- |
0.5 |
0.5 |
- |
|
Profits for the Period |
2.0 |
- |
8.8 |
5.9 |
2.4 |
|
Cumulative Changes in FV |
- |
- |
-5.1 |
- |
- |
|
Proposed Distribution |
- |
0.0 |
- |
- |
- |
|
Total Equity |
434.9 |
432.5 |
443.4 |
442.7 |
440.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,660.6 |
1,697.9 |
1,653.7 |
1,581.8 |
1,594.3 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
Total Common Shares Outstanding |
267.5 |
267.5 |
267.5 |
267.5 |
267.5 |
|
T/S-Common Stock |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Number of Shareholders |
- |
4,854 |
- |
- |
- |
|
Term Loans-1 Yr. or Less |
195.3 |
191.8 |
202.3 |
165.1 |
170.9 |
|
Term Loans-2 to 5 yrs. |
- |
627.0 |
- |
- |
- |
|
Term Loans Due After 1 yr. |
704.4 |
118.1 |
676.8 |
668.0 |
650.4 |
|
Total Long Term Debt, Supplemental |
899.7 |
937.0 |
879.1 |
833.1 |
821.3 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385032 |
0.385008 |
0.384999 |
0.384956 |
0.384897 |
|
Auditor |
KPMG LLP |
KPMG LLP |
|
KPMG LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts from Customers |
677.9 |
656.0 |
630.7 |
553.2 |
485.1 |
|
Cash Paid to Suppliers & Employees |
-566.0 |
-506.8 |
-484.6 |
-441.6 |
-373.6 |
|
Net Finance Costs |
-49.7 |
-27.3 |
-19.8 |
-19.2 |
-14.1 |
|
Income Tax Paid |
-12.1 |
-16.3 |
-6.9 |
-13.8 |
-14.4 |
|
Cash from Operating Activities |
50.1 |
105.5 |
119.5 |
78.6 |
83.0 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-214.5 |
-349.0 |
-186.5 |
-157.8 |
-116.0 |
|
Acquisition of Intangibles |
-0.1 |
-0.4 |
- |
- |
- |
|
Sale of Property/Plant/Equipment |
- |
- |
0.0 |
3.1 |
10.2 |
|
Purchase of Investments |
-0.2 |
- |
0.0 |
-2.2 |
- |
|
Acq- Subsidiary |
0.0 |
-15.5 |
0.0 |
-115.0 |
0.0 |
|
Sale of Investments |
- |
0.0 |
2.7 |
41.3 |
0.2 |
|
Dividend Received |
0.5 |
0.5 |
0.4 |
0.5 |
3.2 |
|
Cash from Investing Activities |
-214.3 |
-364.4 |
-183.4 |
-230.2 |
-102.4 |
|
|
|
|
|
|
|
|
Net Receipt-Term Loans |
197.2 |
249.9 |
99.5 |
138.2 |
53.5 |
|
Net Movement in Related Parties |
2.5 |
0.3 |
0.4 |
-1.9 |
7.4 |
|
Cash Dividends Paid |
-8.8 |
-8.8 |
-6.4 |
-8.7 |
-7.9 |
|
Funds Introduced by Minority Interests |
-0.3 |
-4.0 |
9.3 |
16.3 |
- |
|
Cash from Financing Activities |
190.6 |
237.5 |
102.8 |
143.8 |
53.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
26.4 |
-21.4 |
38.9 |
-7.8 |
33.5 |
|
|
|
|
|
|
|
|
Beginning Balance |
49.2 |
70.6 |
31.7 |
39.5 |
5.9 |
|
Ending Balance |
75.6 |
49.2 |
70.6 |
31.7 |
39.5 |
|
Cash Interest Paid |
49.7 |
27.3 |
19.8 |
19.2 |
14.1 |
|
Cash Taxes Paid |
12.1 |
16.3 |
6.9 |
13.8 |
14.4 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
OMR |
OMR |
OMR |
OMR |
OMR |
|
Exchange Rate
(Period Average) |
0.385046 |
0.385032 |
0.385036 |
0.385048 |
0.385072 |
|
|
|
|
|
|
|
|
Cash from Operations |
40.3 |
- |
47.8 |
21.6 |
27.5 |
|
Cash Receipts From Customers |
- |
677.9 |
- |
- |
- |
|
Cash Paid to Suppliers & Employees |
- |
-566.0 |
- |
- |
- |
|
Net Finance Costs |
-13.1 |
-49.7 |
-35.3 |
-22.4 |
-13.8 |
|
Income Tax Paid |
-8.8 |
-12.1 |
-10.8 |
-8.6 |
-4.6 |
|
Cash from Operating Activities |
18.3 |
50.1 |
1.8 |
-9.4 |
9.0 |
|
|
|
|
|
|
|
|
Capital Expenditure |
- |
-214.5 |
- |
- |
- |
|
Acquisition of Intangibles |
- |
-0.1 |
- |
- |
- |
|
Purchase of Inv. |
- |
-0.2 |
- |
- |
- |
|
Acquistion of Subsidiary |
- |
0.0 |
- |
- |
- |
|
Dividends Received |
- |
0.5 |
- |
- |
- |
|
Net Cash-Investing Activities |
-17.4 |
- |
-142.7 |
-78.3 |
-44.2 |
|
Cash from Investing Activities |
-17.4 |
-214.3 |
-142.7 |
-78.3 |
-44.2 |
|
|
|
|
|
|
|
|
Net Repayment, Term Loans |
- |
197.2 |
- |
- |
- |
|
Net Receipts From Related Parties |
- |
2.5 |
- |
- |
- |
|
Cash Dividends Paid |
- |
-8.8 |
- |
- |
- |
|
Funds Introduced by Minority Int. |
- |
-0.3 |
- |
- |
- |
|
Net Cash-Financing Activities |
-36.2 |
- |
132.7 |
85.1 |
69.9 |
|
Cash from Financing Activities |
-36.2 |
190.6 |
132.7 |
85.1 |
69.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-35.2 |
26.4 |
-8.1 |
-2.6 |
34.7 |
|
|
|
|
|
|
|
|
Beginning Balance |
75.6 |
49.2 |
49.2 |
49.2 |
49.2 |
|
Ending Balance |
40.4 |
75.6 |
41.1 |
46.6 |
83.9 |
|
Cash Interest Paid |
13.1 |
49.7 |
35.3 |
22.4 |
13.8 |
|
Cash Taxes Paid |
8.8 |
12.1 |
10.8 |
8.6 |
4.6 |
Geographic
Segments
Financials in: As Reported (mil)
|
Annual |
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Business
Segments
Financials in: As Reported (mil)
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Annual |
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Business Segments
Financials in: As Reported (mil)
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Interim |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
UK Pound |
1 |
Rs.86.28 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.