MIRA INFORM
REPORT
|
Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
IRBID DISTRICT ELECTRICITY CO. LTD |
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Registered Office : |
Rateb Bataineh
Street, 46, P.O.Box Irbid, 21110 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1957 |
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Legal Form : |
Public
Independent Company |
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Line of Business : |
·
Subject
is engaged in the electricity power generation and distribution sectors. ·
Subject
main activities include generate, transmit, distribute, purchase and sale of
electricity power in the concession area, which includes the governorates of
Irbid, Ajloun and Jeresh retail parts of the Balqa governorate |
|
|
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No. of Employees : |
1,081 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Jordan ECONOMIC OVERVIEW
Jordan's
economy is among the smallest in the Middle East, with insufficient supplies of
water, oil, and other natural resources, underlying the government's heavy
reliance on foreign assistance. Other economic challenges for the government
include chronic high rates of poverty, unemployment, inflation, and a large
budget deficit. Since assuming the throne in 1999, King ABDALLAH has
implemented significant economic reforms, such as opening the trade regime,
privatizing state-owned companies, and eliminating some fuel subsidies, which
in the last decade spurred economic growth by attracting foreign investment and
creating some jobs. The global economic slowdown and regional turmoil, however,
have depressed Jordan''s GDP growth, impacting export-oriented sectors,
construction, and tourism. In 2011 and 2012, the government approved two
economic relief packages and a budgetary supplement, meant to improve the
living conditions for the middle and poor classes. Jordan''s finances have also
been strained by a series of natural gas pipeline attacks in Egypt, causing
Jordan to substitute more expensive diesel imports, primarily from Saudi
Arabia, to generate electricity. Jordan is currently exploring nuclear power
generation in addition to the exploitation of abundant oil shale reserves and
renewable technologies to forestall energy shortfalls. In 2012, to correct
budgetary and balance of payments imbalances, Jordan entered into a $2.1
billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan''s
financial sector has been relatively isolated from the international financial
crisis because of its limited exposure to overseas capital markets. Jordan will
continue to depend heavily on foreign assistance to finance the deficit in
2013.
|
Source : CIA |
Company
name & address
Irbid District
Electricity Co. Ltd
Rateb Bataineh
Street, 46
P.O.Box
Irbid, 21110
Jordan
Tel: 962-2-7201500
Fax: 962-2-7245495
Web: www.ideco.com.jo
synthesis
Employees: 1,081
Company Type: Public
Independent
Traded: Amman
Financial Market: IREL
Incorporation
Date: 1957
Auditor: Ernst
& Young LLP
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Jordanian Dinar
Annual Sales: 211.8 1
Net Income: 12.8
Total Assets: 217.6 2
Market Value: 106.4
(05-Aug-2013)
Business
Description
Irbid District
Electricity Company Ltd is a Jordan-based public shareholding company that
engaged in the electricity power generation and distribution sectors. The
Company’s main activities include generate, transmit, distribute, purchase
and sale of electricity power in the concession area, which includes the
governorates of Irbid, Ajloun and Jeresh retail parts of the Balqa governorate.
The concession area represents approximately 26% of the total area of Jordan,
covering 23,000 square kilometers. For the fiscal year ended 31 December 2012,
Irbid District Electricity Co. Ltd revenues increased 14% to JD150.2M. Net
income increased from JD4.2M to JD9.1M. Revenues reflect Regular segment
increase of 23% to JD76M, Commercial segment increase of 34% to JD22.6M. Net
income benefited from Other Secondary Op. Revenues increase of 42% to JD2.9M
(income), Gain on Sale of Fixed Assets increase from JD87K to JD613K (income).
Industry
Industry
Electricity Generation and Distribution
ANZSIC 2006: 26 - Electricity Supply
ISIC Rev 4: 3510 - Electric power generation,
transmission and distribution
NACE Rev 2: 3511 - Production of electricity
NAICS 2012: 221111 - Hydroelectric Power Generation
UK SIC 2007: 3511 - Production of electricity
US SIC 1987: 4911 - Electric Services
Key Executives
|
Name |
Title |
|
Assistant General Manager - Design and Development |
|
|
Assistant General Manager - Finance |
|
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Assistant General Manager - Human Resources and Administration |
|
|
Sultan Tawfiq Abu Arabi Al Odwan |
Director representing Yarmouk University Investment Fund |
|
Chairman of the Board |
Significant Developments
|
* number of significant developments within the last 12 months
Financial Summary
|
Stock Snapshot
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = JOD 0.7089999
2 - Balance Sheet
Item Exchange Rate: USD 1 = JOD 0.707
Corporate
Overview
Location
Rateb Bataineh
Street, 46
P.O.Box
Irbid, 21110
Jordan
Tel: 962-2-7201500
Fax: 962-2-7245495
Web: www.ideco.com.jo
Quote Symbol -
Exchange
IREL - Amman Financial Market
Sales JOD(mil): 150.2
Assets JOD(mil): 153.9
Employees: 1,081
Fiscal Year End: 31-Dec-2012
Industry: Electric
Utilities
Incorporation
Date: 1957
Company Type: Public
Independent
Quoted Status: Quoted
Chairman of the
Board: Fayez Issa Salem Al Khasawna
Industry Codes
ANZSIC 2006
Codes:
26 - Electricity
Supply
ISIC Rev 4 Codes:
3510 - Electric
power generation, transmission and distribution
NACE Rev 2 Codes:
3511 - Production
of electricity
NAICS 2012 Codes:
221111 - Hydroelectric
Power Generation
US SIC 1987:
4911 - Electric
Services
UK SIC 2007:
3511 - Production
of electricity
Business Description
Irbid District
Electricity Company Ltd is a Jordan-based public shareholding company that
engaged in the electricity power generation and distribution sectors. The
Company’s main activities include generate, transmit, distribute, purchase
and sale of electricity power in the concession area, which includes the
governorates of Irbid, Ajloun and Jeresh retail parts of the Balqa governorate.
The concession area represents approximately 26% of the total area of Jordan,
covering 23,000 square kilometers. For the fiscal year ended 31 December 2012,
Irbid District Electricity Co. Ltd revenues increased 14% to JD150.2M. Net
income increased from JD4.2M to JD9.1M. Revenues reflect Regular segment
increase of 23% to JD76M, Commercial segment increase of 34% to JD22.6M. Net
income benefited from Other Secondary Op. Revenues increase of 42% to JD2.9M
(income), Gain on Sale of Fixed Assets increase from JD87K to JD613K (income).
More Business Descriptions
Distribution of
electric power in the Irbid region
Irbid District
Electricity Co. Ltd (IDEC) principally engages in the generation, transmission,
distribution and supply of electricity in the northern region of Jordan. The
company is involved in the business of installation and maintenance of lighting
units, testing and maintenance of meters, construction of overhead and
underground cables, construction of substations and electrification of rural
communities. Apart from generation of electricity, the company is also involved
in purchases electricity from third party providers. Till date, the company
maintains about 3,099 km of medium voltage overhead lines, and approximately 10517
km of low voltages overhead lines. It also recently installed 2,790 substations
with a total capacity of 739,554 KVA. IDEC caters to more than 266,776
customers annually. Of which, it serves 95% of energy to residential customers,
12.5% to industrial and commercial customers, and about 1.1% to other
irrigation, governmental consumers. The company operates in the regions of
Irbid, Mafraq Jarash, Ajloun, and parts of Balqa district. The company is
headquartered in Irbid, Jordon.The company reported revenues of (Jordanian
Dinar) JOD 133.96 million during the fiscal year ended December 2011, an
increase of 15.90% over 2010. The operating profit of the company was JOD 3.06
million during the fiscal year 2011, a decrease of 57.28% from 2010. The net
profit of the company was JOD 4.21 million during the fiscal year 2011, a
decrease of 45.01% from 2010.
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Competitors
Report
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Company Name |
Location |
Employees |
Ownership |
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Jordan Cove Energy Project L.P. |
Coos Bay, Oregon, United States |
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Private |
Executive report
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Board
of Directors |
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Chairman of the Board |
Chairman |
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Chairman |
Chairman |
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Vice Chairman |
Chairman |
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Vice Chairman of the Board |
Vice-Chairman |
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Director |
Director/Board Member |
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Member of the Board, representing Kingdom
Electricity Co. for Energy Investments |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Member of the Board, representing Kingdom
Electricity Co. for Energy Investments |
Director/Board Member |
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Member of the Board, representing Irbid
Municipality |
Director/Board Member |
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Member of the Board, representing Al
Mafraq Municipality |
Director/Board Member |
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Member of the Board, representing Al
Ramtha Municipality |
Director/Board Member |
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Member of the Board, representing Yarmouk
University Investment Fund |
Director/Board Member |
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Director |
Director/Board Member |
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Member of the Board, representing Jarash
Municipality |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Member of the Board, representing Kingdom
Electricity Co. for Energy Investments |
Director/Board Member |
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Director |
Director/Board Member |
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Member of the Board, representing Kingdom Electricity Co. for Energy
Investments |
Director/Board Member |
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Executives |
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Assistant General Manager - Design and
Development |
Division Head Executive |
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Assistant General Manager - Planning |
Division Head Executive |
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Assistant General Manager - Maintenance |
Division Head Executive |
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General Manager |
Division Head Executive |
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Assistant General Manager - Human Resources and Administration |
Administration Executive |
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Assistant General Manager - Finance |
Finance Executive |
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Director representing Yarmouk University Investment Fund |
Investment Executive |
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Significant
Developments
Irbid District
Electricity Co Ltd Recommends Bonus Shares for FY 2012 Apr 16, 2013
Irbid District
Electricity Co Ltd announced that its Board of Directors has recommended to
increase the Company's share capital by JOD 2 million, at JOD 1 per share, to
be distributed as bonus shares to the existing shareholders, equivalent to one
share for every three shares owned, for the fiscal year ending December 31,
2012.
Irbid District
Electricity Co Ltd Recommends 100% Cash Dividends for FY 2012 Apr 09, 2013
Irbid District
Electricity Co Ltd announced that its Board of Directors has recommended the
distribution of 100% cash dividends, representing JOD 6 million at JOD 1 per
share, for the fiscal year ending December 31, 2012.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JOD |
JOD |
JOD |
JOD |
JOD |
|
Exchange Rate
(Period Average) |
0.709 |
0.708596 |
0.708147 |
0.70834 |
0.708217 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
To'mah Abu
AlShar |
To'mah Abu
AlShar |
To'mah Abu AlShar |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Electric Operations |
211.8 |
185.5 |
159.2 |
139.3 |
119.7 |
|
Revenue |
211.8 |
185.5 |
159.2 |
139.3 |
119.7 |
|
Total Revenue |
211.8 |
185.5 |
159.2 |
139.3 |
119.7 |
|
|
|
|
|
|
|
|
Purchased Power |
174.1 |
159.3 |
129.4 |
115.0 |
100.6 |
|
Cost of Revenue, Total |
174.1 |
159.3 |
129.4 |
115.0 |
100.6 |
|
Operations & Maintenance |
0.4 |
0.5 |
- |
- |
- |
|
Selling/General/Administrative Expense |
5.4 |
5.1 |
5.9 |
16.1 |
14.9 |
|
Labor & Related Expense |
15.5 |
13.5 |
12.0 |
0.1 |
- |
|
Total Selling/General/Administrative Expenses |
20.9 |
18.5 |
17.9 |
16.2 |
14.9 |
|
Depreciation |
6.9 |
6.2 |
5.6 |
4.9 |
3.7 |
|
Depreciation/Amortization |
6.9 |
6.2 |
5.6 |
4.9 |
3.7 |
|
Other Operating Expense |
-2.4 |
-3.3 |
-3.8 |
-4.2 |
-4.6 |
|
Other Operating Expenses, Total |
-2.4 |
-3.3 |
-3.8 |
-4.2 |
-4.6 |
|
Total Operating Expense |
199.9 |
181.2 |
149.1 |
132.0 |
114.6 |
|
|
|
|
|
|
|
|
Operating Income |
11.9 |
4.3 |
10.1 |
7.3 |
5.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.6 |
-0.1 |
0.0 |
- |
- |
|
Interest Expense, Net Non-Operating |
-0.6 |
-0.1 |
0.0 |
- |
- |
|
Interest Income -
Non-Operating |
0.0 |
0.1 |
0.2 |
- |
- |
|
Investment Income -
Non-Operating |
0.1 |
0.0 |
0.1 |
- |
- |
|
Interest/Investment Income - Non-Operating |
0.1 |
0.1 |
0.2 |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.6 |
0.1 |
0.2 |
- |
- |
|
Gain (Loss) on Sale of Assets |
0.8 |
0.1 |
0.1 |
- |
- |
|
Other Non-Operating Income (Expense) |
2.7 |
2.5 |
2.2 |
2.1 |
1.4 |
|
Other, Net |
2.7 |
2.5 |
2.2 |
2.1 |
1.4 |
|
Income Before Tax |
14.8 |
7.0 |
12.6 |
9.4 |
6.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
2.1 |
1.1 |
1.8 |
1.2 |
1.1 |
|
Income After Tax |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
Net Income |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
8.0 |
8.0 |
8.0 |
8.0 |
8.0 |
|
Basic EPS Excl Extraord Items |
1.60 |
0.74 |
1.35 |
1.03 |
0.67 |
|
Basic/Primary EPS Incl Extraord Items |
1.60 |
0.74 |
1.35 |
1.03 |
0.67 |
|
Diluted Net Income |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
Diluted Weighted Average Shares |
8.0 |
8.0 |
8.0 |
8.0 |
8.0 |
|
Diluted EPS Excl Extraord Items |
1.60 |
0.74 |
1.35 |
1.03 |
0.67 |
|
Diluted EPS Incl Extraord Items |
1.60 |
0.74 |
1.35 |
1.03 |
0.67 |
|
Dividends per Share - Common Stock Primary Issue |
1.06 |
0.98 |
0.85 |
1.06 |
0.59 |
|
Gross Dividends - Common Stock |
- |
7.9 |
6.8 |
8.5 |
4.7 |
|
Interest Expense, Supplemental |
0.6 |
0.1 |
0.0 |
- |
- |
|
Depreciation, Supplemental |
6.9 |
6.2 |
5.6 |
4.9 |
3.7 |
|
Total Special Items |
-0.8 |
-0.1 |
-0.1 |
- |
- |
|
Normalized Income Before Tax |
14.0 |
6.9 |
12.5 |
9.4 |
6.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
1.9 |
1.1 |
1.8 |
1.2 |
1.1 |
|
Normalized Income After Tax |
12.0 |
5.8 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
12.0 |
5.8 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.51 |
0.73 |
1.34 |
1.03 |
0.67 |
|
Diluted Normalized EPS |
1.51 |
0.73 |
1.34 |
1.03 |
0.67 |
|
Amort of Intangibles, Supplemental |
- |
- |
- |
0.1 |
0.5 |
|
Rental Expenses |
0.2 |
0.2 |
0.1 |
0.1 |
0.0 |
|
Normalized EBIT |
11.9 |
4.3 |
10.1 |
7.3 |
5.1 |
|
Normalized EBITDA |
18.8 |
10.5 |
15.7 |
12.3 |
9.2 |
|
Current Tax - Other |
2.2 |
1.1 |
1.8 |
- |
- |
|
Current Tax - Total |
2.2 |
1.1 |
1.8 |
- |
- |
|
Deferred Tax - Local |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Deferred Tax - Total |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Local Tax - Other |
- |
- |
- |
1.2 |
- |
|
Income Tax - Total |
2.1 |
1.1 |
1.8 |
1.2 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JOD |
JOD |
JOD |
JOD |
JOD |
|
Exchange Rate |
0.707 |
0.709 |
0.7082 |
0.70775 |
0.70875 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
To'mah Abu
AlShar |
To'mah Abu
AlShar |
To'mah Abu
AlShar |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.2 |
0.1 |
8.2 |
6.8 |
1.4 |
|
Cash and Short Term Investments |
0.2 |
0.1 |
8.2 |
6.8 |
1.4 |
|
Accounts Receivable -
Trade, Gross |
48.7 |
39.3 |
25.4 |
25.5 |
28.3 |
|
Provision for Doubtful
Accounts |
-1.4 |
-1.3 |
-1.9 |
-1.7 |
-1.6 |
|
Trade Accounts Receivable - Net |
47.3 |
38.0 |
23.5 |
23.8 |
26.7 |
|
Other Receivables |
- |
- |
- |
- |
0.0 |
|
Total Receivables, Net |
47.3 |
38.0 |
23.5 |
23.8 |
26.7 |
|
Inventories - Raw Materials |
7.2 |
7.1 |
8.3 |
7.9 |
- |
|
Inventories - Other |
0.1 |
0.4 |
-0.8 |
-0.7 |
- |
|
Total Inventory |
7.3 |
7.5 |
7.5 |
7.2 |
15.6 |
|
Other Current Assets |
0.2 |
0.3 |
0.4 |
0.2 |
0.1 |
|
Other Current Assets, Total |
0.2 |
0.3 |
0.4 |
0.2 |
0.1 |
|
Total Current Assets |
55.0 |
45.8 |
39.6 |
38.0 |
43.8 |
|
|
|
|
|
|
|
|
Buildings |
2.7 |
2.6 |
1.9 |
1.6 |
1.5 |
|
Land/Improvements |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Machinery/Equipment |
50.4 |
42.8 |
30.2 |
28.3 |
22.9 |
|
Construction in
Progress |
3.5 |
4.1 |
5.7 |
8.2 |
6.2 |
|
Other
Property/Plant/Equipment |
133.3 |
124.9 |
123.6 |
111.6 |
100.8 |
|
Property/Plant/Equipment - Gross |
190.2 |
174.8 |
161.7 |
150.0 |
131.7 |
|
Accumulated Depreciation |
-115.6 |
-104.6 |
-94.9 |
-86.2 |
-78.2 |
|
Property/Plant/Equipment - Net |
74.5 |
70.2 |
66.8 |
63.8 |
53.5 |
|
Utility Plant |
86.9 |
78.1 |
69.6 |
63.6 |
58.8 |
|
Utility Plant, Net |
86.9 |
78.1 |
69.6 |
63.6 |
58.8 |
|
Total Utility Plant, Net |
86.9 |
78.1 |
69.6 |
63.6 |
58.8 |
|
LT Investments - Other |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Long Term Investments |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Deferred Income Tax - Long Term Asset |
0.8 |
0.6 |
0.6 |
0.5 |
- |
|
Restricted Cash - Long Term |
- |
- |
0.1 |
0.1 |
0.1 |
|
Other Long Term Assets, Total |
0.8 |
0.6 |
0.7 |
0.6 |
0.1 |
|
Total Assets |
217.6 |
195.1 |
177.1 |
166.3 |
156.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
42.5 |
41.7 |
34.9 |
33.7 |
33.6 |
|
Accrued Expenses |
1.2 |
1.0 |
- |
0.0 |
0.0 |
|
Notes Payable/Short Term Debt |
13.1 |
7.2 |
0.1 |
0.0 |
3.5 |
|
Dividends Payable |
- |
- |
0.8 |
0.5 |
0.3 |
|
Customer Advances |
0.1 |
0.1 |
- |
- |
- |
|
Income Taxes Payable |
2.3 |
1.3 |
- |
- |
- |
|
Other Payables |
2.8 |
2.5 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
2.1 |
1.5 |
5.2 |
3.9 |
2.8 |
|
Other Current liabilities, Total |
7.3 |
5.4 |
6.0 |
4.4 |
3.1 |
|
Total Current Liabilities |
64.2 |
55.3 |
41.0 |
38.1 |
40.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
- |
- |
0.0 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
13.1 |
7.2 |
0.1 |
0.0 |
3.5 |
|
|
|
|
|
|
|
|
Pension Benefits - Underfunded |
4.5 |
4.0 |
- |
- |
- |
|
Other Long Term Liabilities |
120.8 |
115.4 |
114.8 |
109.2 |
101.1 |
|
Other Liabilities, Total |
125.3 |
119.4 |
114.8 |
109.2 |
101.1 |
|
Total Liabilities |
189.4 |
174.7 |
155.8 |
147.4 |
141.2 |
|
|
|
|
|
|
|
|
Common Stock |
8.5 |
5.6 |
5.6 |
5.7 |
5.6 |
|
Common Stock |
8.5 |
5.6 |
5.6 |
5.7 |
5.6 |
|
Retained Earnings (Accumulated Deficit) |
19.7 |
14.8 |
15.6 |
13.3 |
9.7 |
|
Total Equity |
28.2 |
20.4 |
21.3 |
19.0 |
15.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
217.6 |
195.1 |
177.1 |
166.3 |
156.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
8.0 |
8.0 |
8.0 |
8.0 |
8.0 |
|
Total Common Shares Outstanding |
8.0 |
8.0 |
8.0 |
8.0 |
8.0 |
|
Employees |
1,081 |
1,066 |
1,051 |
1,012 |
1,074 |
|
Deferred Revenue - Current |
0.1 |
0.1 |
- |
- |
- |
|
Deferred Revenue - Long Term |
4.1 |
4.5 |
- |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
JOD |
JOD |
JOD |
JOD |
JOD |
|
Exchange Rate
(Period Average) |
0.709 |
0.708596 |
0.708147 |
0.70834 |
0.708217 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
To'mah Abu
AlShar |
To'mah Abu
AlShar |
To'mah Abu
AlShar |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
14.8 |
7.0 |
12.6 |
8.3 |
5.1 |
|
Depreciation |
7.0 |
6.3 |
5.7 |
4.9 |
3.7 |
|
Depreciation/Depletion |
7.0 |
6.3 |
5.7 |
4.9 |
3.7 |
|
Amortization of Intangibles |
- |
- |
- |
0.1 |
0.5 |
|
Amortization |
- |
- |
- |
0.1 |
0.5 |
|
Other Non-Cash Items |
1.6 |
-0.4 |
0.2 |
-0.3 |
-0.1 |
|
Non-Cash Items |
1.6 |
-0.4 |
0.2 |
-0.3 |
-0.1 |
|
Accounts Receivable |
-9.4 |
-14.3 |
0.1 |
2.8 |
-3.8 |
|
Inventories |
1.8 |
1.4 |
-0.4 |
8.3 |
-8.2 |
|
Other Assets |
0.1 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
Accounts Payable |
0.7 |
6.9 |
1.2 |
2.7 |
10.5 |
|
Accrued Expenses |
0.3 |
0.2 |
0.2 |
- |
- |
|
Other Liabilities |
10.6 |
10.8 |
10.2 |
0.7 |
1.6 |
|
Other Operating Cash Flow |
-1.9 |
-2.3 |
-1.8 |
- |
- |
|
Changes in Working Capital |
2.2 |
2.6 |
9.4 |
14.4 |
0.1 |
|
Cash from Operating Activities |
25.6 |
15.6 |
27.9 |
27.5 |
9.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-18.8 |
-15.4 |
-11.6 |
-11.8 |
-11.3 |
|
Capital Expenditures |
-18.8 |
-15.4 |
-11.6 |
-11.8 |
-11.3 |
|
Sale of Fixed Assets |
0.9 |
0.2 |
0.9 |
- |
- |
|
Investment, Net |
0.1 |
0.0 |
0.0 |
- |
- |
|
Other Investing Cash Flow |
-8.0 |
-8.8 |
-8.3 |
-2.3 |
-0.2 |
|
Other Investing Cash Flow Items, Total |
-7.1 |
-8.7 |
-7.3 |
-2.3 |
-0.2 |
|
Cash from Investing Activities |
-25.9 |
-24.1 |
-18.8 |
-14.1 |
-11.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.6 |
-0.1 |
0.0 |
- |
- |
|
Financing Cash Flow Items |
-0.6 |
-0.1 |
0.0 |
- |
- |
|
Cash Dividends Paid - Common |
-4.8 |
-6.7 |
-7.7 |
-4.5 |
-0.7 |
|
Total Cash Dividends Paid |
-4.8 |
-6.7 |
-7.7 |
-4.5 |
-0.7 |
|
Short Term Debt, Net |
- |
- |
- |
-3.4 |
2.1 |
|
Long Term Debt
Reduction |
- |
- |
- |
-0.1 |
-0.3 |
|
Long Term Debt, Net |
- |
- |
- |
-0.1 |
-0.3 |
|
Issuance (Retirement) of Debt, Net |
- |
- |
- |
-3.5 |
1.8 |
|
Cash from Financing Activities |
-5.5 |
-6.7 |
-7.7 |
-8.0 |
1.1 |
|
Net Change in Cash |
-5.7 |
-15.3 |
1.3 |
5.4 |
-1.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
-7.1 |
8.1 |
6.8 |
1.4 |
2.5 |
|
Net Cash - Ending Balance |
-12.9 |
-7.1 |
8.1 |
6.8 |
1.4 |
|
Cash Interest Paid |
0.6 |
0.1 |
0.0 |
- |
- |
|
Cash Taxes Paid |
1.2 |
1.9 |
1.4 |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JOD |
JOD |
JOD |
JOD |
JOD |
|
Exchange Rate
(Period Average) |
0.709 |
0.708596 |
0.708147 |
0.70834 |
0.708217 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
To'mah Abu
AlShar |
To'mah Abu
AlShar |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
211.8 |
185.5 |
159.2 |
139.3 |
119.7 |
|
Total Revenue |
211.8 |
185.5 |
159.2 |
139.3 |
119.7 |
|
|
|
|
|
|
|
|
Purchased Energy |
174.1 |
159.3 |
129.4 |
115.0 |
100.6 |
|
Other Revenue |
-2.5 |
-3.6 |
-4.0 |
-4.3 |
-5.0 |
|
Admin Expense |
5.4 |
5.1 |
5.9 |
16.1 |
14.9 |
|
Salaries & Wages |
15.5 |
13.5 |
12.0 |
- |
- |
|
Maintenance Expenses |
0.4 |
0.5 |
- |
- |
- |
|
Depreciation |
6.9 |
6.2 |
5.6 |
4.9 |
3.7 |
|
Amortization of Kadaya Taarodat |
0.1 |
0.2 |
0.1 |
- |
- |
|
Provision |
0.0 |
0.1 |
0.0 |
0.1 |
0.5 |
|
Director Remunerations |
- |
- |
- |
0.1 |
- |
|
Total Operating Expense |
199.9 |
181.2 |
149.1 |
132.0 |
114.6 |
|
|
|
|
|
|
|
|
Interest Income |
0.0 |
0.1 |
0.2 |
- |
- |
|
Investment Income |
0.1 |
0.1 |
0.1 |
- |
- |
|
Gain on Sale of Fixed Assets |
0.9 |
0.1 |
0.1 |
- |
- |
|
Other Secondary Op. Revenues |
4.1 |
2.9 |
3.5 |
2.9 |
1.7 |
|
Interest Expense |
-0.6 |
-0.1 |
0.0 |
- |
- |
|
Foriegn Currency Exchange Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Loss on Sale of Fixed Assets |
0.0 |
- |
- |
- |
- |
|
Other Secondary Op. Expenses |
-1.4 |
-0.4 |
-1.3 |
-0.8 |
-0.4 |
|
Net Income Before Taxes |
14.8 |
7.0 |
12.6 |
9.4 |
6.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2.1 |
1.1 |
1.8 |
1.2 |
1.1 |
|
Net Income After Taxes |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
Net Income |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
8.0 |
8.0 |
8.0 |
8.0 |
8.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.60 |
0.74 |
1.35 |
1.03 |
0.67 |
|
Basic EPS Including ExtraOrdinary Items |
1.60 |
0.74 |
1.35 |
1.03 |
0.67 |
|
Diluted Net Income |
12.8 |
5.9 |
10.8 |
8.3 |
5.3 |
|
Diluted Weighted Average Shares |
8.0 |
8.0 |
8.0 |
8.0 |
8.0 |
|
Diluted EPS Excluding ExtraOrd Items |
1.60 |
0.74 |
1.35 |
1.03 |
0.67 |
|
Diluted EPS Including ExtraOrd Items |
1.60 |
0.74 |
1.35 |
1.03 |
0.67 |
|
DPS-Ordinary Shares |
1.06 |
0.98 |
0.85 |
1.06 |
0.59 |
|
Gross Dividends - Common Stock |
- |
7.9 |
6.8 |
8.5 |
4.7 |
|
Normalized Income Before Taxes |
14.0 |
6.9 |
12.5 |
9.4 |
6.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.9 |
1.1 |
1.8 |
1.2 |
1.1 |
|
Normalized Income After Taxes |
12.0 |
5.8 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
12.0 |
5.8 |
10.8 |
8.3 |
5.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.51 |
0.73 |
1.34 |
1.03 |
0.67 |
|
Diluted Normalized EPS |
1.51 |
0.73 |
1.34 |
1.03 |
0.67 |
|
Depreciation |
6.9 |
6.2 |
5.6 |
4.9 |
3.7 |
|
Interest Expense |
0.6 |
0.1 |
0.0 |
- |
- |
|
Amortization |
- |
- |
- |
0.1 |
0.5 |
|
Rental Expense, Supplemental |
0.2 |
0.2 |
0.1 |
0.1 |
0.0 |
|
Current Tax |
2.2 |
1.0 |
1.8 |
- |
- |
|
Current Tax from Previous years |
0.0 |
0.2 |
0.0 |
- |
- |
|
Current Tax - Total |
2.2 |
1.1 |
1.8 |
- |
- |
|
Deferred Tax |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Deferred Tax - Total |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Jordanian Universities |
- |
- |
- |
0.1 |
- |
|
Scientific Research |
- |
- |
- |
0.1 |
- |
|
Technical Training Fund |
- |
- |
- |
0.1 |
- |
|
Income Tax |
- |
- |
- |
0.9 |
- |
|
Income Tax - Total |
2.1 |
1.1 |
1.8 |
1.2 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JOD |
JOD |
JOD |
JOD |
JOD |
|
Exchange Rate |
0.707 |
0.709 |
0.7082 |
0.70775 |
0.70875 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
To'mah Abu
AlShar |
To'mah Abu
AlShar |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.2 |
0.1 |
8.2 |
6.8 |
1.4 |
|
Accounts Receivable |
48.7 |
39.3 |
25.4 |
25.5 |
28.3 |
|
Provision for Doubtful Debts |
-1.4 |
-1.3 |
-1.9 |
-1.7 |
-1.6 |
|
Total Inventory |
- |
- |
- |
- |
15.6 |
|
Electricity Materials |
7.2 |
7.1 |
8.0 |
7.3 |
- |
|
Vehicles Spare Parts |
0.3 |
0.4 |
0.3 |
0.3 |
- |
|
Stationary & Furniture |
0.1 |
0.1 |
0.1 |
0.1 |
- |
|
Other Inventory |
1.0 |
1.0 |
- |
- |
- |
|
Work in Progress |
- |
- |
0.3 |
0.6 |
- |
|
Provision for Slow Moving Inventory |
-1.3 |
-1.3 |
-1.2 |
-1.2 |
- |
|
Letters of Credit |
0.0 |
0.2 |
0.0 |
0.1 |
- |
|
Other Assets |
0.2 |
0.3 |
0.4 |
0.2 |
0.1 |
|
Cheques Under Collection |
- |
- |
- |
- |
0.0 |
|
Total Current Assets |
55.0 |
45.8 |
39.6 |
38.0 |
43.8 |
|
|
|
|
|
|
|
|
Land |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Buildings |
2.5 |
2.5 |
1.7 |
1.6 |
1.4 |
|
Warehouse |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Car Parking |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Improvments |
0.1 |
0.1 |
0.2 |
0.1 |
0.0 |
|
Earth Networks |
11.5 |
10.0 |
8.2 |
6.3 |
4.4 |
|
Distribution Networks |
75.5 |
68.1 |
61.4 |
57.3 |
54.4 |
|
Generators and Transmissions |
34.2 |
29.1 |
18.2 |
16.5 |
14.7 |
|
Machinery & Equipments |
5.4 |
4.6 |
- |
- |
- |
|
Vehicles |
5.5 |
4.6 |
4.4 |
4.2 |
2.5 |
|
Furniture |
0.8 |
0.8 |
0.6 |
0.5 |
0.5 |
|
Elevator |
0.2 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Wireless Communication Device |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Computers |
5.0 |
4.3 |
3.1 |
3.2 |
2.5 |
|
Reading Meters |
- |
- |
8.2 |
7.4 |
6.8 |
|
Tools & Instruments |
- |
- |
3.0 |
3.0 |
1.9 |
|
Tools |
- |
- |
1.1 |
1.0 |
0.9 |
|
Type Writers & Copy Machines |
- |
- |
0.2 |
0.2 |
0.2 |
|
DMS |
- |
- |
- |
- |
0.0 |
|
Complaint System |
- |
- |
0.0 |
- |
- |
|
Cash Counters and Softwares |
- |
- |
0.1 |
0.1 |
0.1 |
|
GIS |
- |
- |
0.1 |
0.1 |
0.1 |
|
Cost System |
- |
- |
0.0 |
0.0 |
0.0 |
|
Email and Software |
- |
- |
0.0 |
0.0 |
0.0 |
|
GPS |
- |
- |
0.1 |
0.1 |
0.1 |
|
Computer OS |
- |
- |
0.1 |
- |
- |
|
Speed Detectors |
- |
- |
0.0 |
0.0 |
0.0 |
|
Depreciation |
-64.5 |
-58.7 |
-54.7 |
-50.2 |
-46.2 |
|
Members Shares |
130.5 |
122.2 |
73.7 |
65.4 |
58.9 |
|
Depreciation(1) |
-49.9 |
-44.8 |
-28.1 |
-25.4 |
-22.9 |
|
Rural Deposits Assets |
- |
- |
39.0 |
36.4 |
32.8 |
|
Litigation Compensation |
1.8 |
1.7 |
1.7 |
1.6 |
1.6 |
|
Depreciation(2) |
-1.2 |
-1.1 |
-12.1 |
-10.6 |
-9.2 |
|
Investment AFS |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Construction in Progress |
3.5 |
4.1 |
5.7 |
8.2 |
6.2 |
|
Deferred Tax Assets |
0.8 |
0.6 |
0.6 |
0.5 |
- |
|
Total Assets |
217.6 |
195.1 |
177.1 |
166.3 |
156.6 |
|
|
|
|
|
|
|
|
ST Loans |
- |
- |
- |
0.0 |
0.1 |
|
Other Liabilities |
- |
- |
5.2 |
3.9 |
2.8 |
|
Accounts Payable |
42.5 |
41.7 |
34.9 |
33.7 |
33.6 |
|
Accrued Expense |
1.2 |
1.0 |
- |
0.0 |
0.0 |
|
Banks Overdraft |
13.1 |
7.2 |
0.1 |
0.0 |
3.4 |
|
Other Payables |
2.8 |
2.5 |
- |
- |
- |
|
Advances from Members Share |
0.1 |
0.1 |
- |
- |
- |
|
Dividends Payable |
- |
- |
0.8 |
0.5 |
0.3 |
|
Members Share Surplus |
0.5 |
0.5 |
- |
- |
- |
|
Provisions |
1.6 |
1.0 |
- |
- |
- |
|
Income Tax Provision |
2.3 |
1.3 |
- |
- |
- |
|
Deferred Cheques |
- |
- |
0.0 |
0.0 |
0.0 |
|
Total Current Liabilities |
64.2 |
55.3 |
41.0 |
38.1 |
40.2 |
|
|
|
|
|
|
|
|
LT Loan |
- |
- |
- |
- |
0.0 |
|
Total Long Term Debt |
- |
- |
- |
- |
0.0 |
|
|
|
|
|
|
|
|
Members Share |
80.5 |
77.4 |
45.6 |
40.0 |
36.0 |
|
Advances from Members Share |
4.1 |
4.5 |
- |
- |
- |
|
Members Share Surplus |
5.5 |
5.7 |
- |
- |
- |
|
End of Service Provision |
4.5 |
4.0 |
- |
- |
- |
|
Subscripers Deposit |
30.7 |
27.8 |
- |
- |
- |
|
Rural deopsits |
- |
- |
26.9 |
25.7 |
23.6 |
|
Other LT Liabilities |
- |
- |
37.0 |
33.0 |
29.8 |
|
Construction in Progress Income |
- |
- |
5.4 |
10.4 |
11.7 |
|
Total Liabilities |
189.4 |
174.7 |
155.8 |
147.4 |
141.2 |
|
|
|
|
|
|
|
|
Share Capital |
8.5 |
5.6 |
5.6 |
5.7 |
5.6 |
|
Statutory Reserve |
3.1 |
3.1 |
3.1 |
3.1 |
3.1 |
|
Voluntary Reserve |
0.9 |
0.9 |
0.9 |
0.9 |
0.9 |
|
Private Reserve |
- |
- |
0.0 |
0.6 |
0.6 |
|
Retained Earnings |
15.7 |
10.8 |
11.6 |
8.7 |
5.1 |
|
Total Equity |
28.2 |
20.4 |
21.3 |
19.0 |
15.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
217.6 |
195.1 |
177.1 |
166.3 |
156.6 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
8.0 |
8.0 |
8.0 |
8.0 |
8.0 |
|
Total Common Shares Outstanding |
8.0 |
8.0 |
8.0 |
8.0 |
8.0 |
|
Deferred Revenue - Current |
0.1 |
0.1 |
- |
- |
- |
|
Deferred Revenue - Long Term |
4.1 |
4.5 |
- |
- |
- |
|
Full-Time Employees |
1,081 |
1,066 |
1,051 |
1,012 |
1,074 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
JOD |
JOD |
JOD |
JOD |
JOD |
|
Exchange Rate
(Period Average) |
0.709 |
0.708596 |
0.708147 |
0.70834 |
0.708217 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
To'mah Abu
AlShar |
To'mah Abu
AlShar |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
14.8 |
7.0 |
12.6 |
8.3 |
5.1 |
|
Depreciation |
7.0 |
6.3 |
5.7 |
4.9 |
3.7 |
|
Sale of Fixed Assets |
-0.1 |
-0.1 |
0.0 |
- |
- |
|
Interest Income |
0.0 |
-0.1 |
-0.2 |
- |
- |
|
Dividend from AFS Financal Assets |
- |
- |
0.0 |
- |
- |
|
Dividend from Fin Assets at FVTPL |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Interest Expense |
0.6 |
0.1 |
0.0 |
- |
- |
|
End of Service Provision |
0.9 |
0.2 |
0.6 |
- |
- |
|
Share of Secondary Activity |
0.1 |
0.0 |
0.0 |
- |
- |
|
Provision for Slow Inventory |
0.0 |
0.1 |
0.0 |
- |
- |
|
Amortization |
- |
- |
- |
0.1 |
0.5 |
|
Provision for Doubtful Debts |
0.1 |
-0.2 |
0.2 |
0.2 |
0.1 |
|
Amor. of Excess Shareholders 1-7/2008 |
-0.5 |
-0.5 |
-0.9 |
-0.4 |
-0.2 |
|
Amor. of Excess Shareholders 7-12/2008 |
- |
- |
- |
0.0 |
0.0 |
|
Provision |
0.6 |
0.2 |
0.4 |
- |
- |
|
Inventory |
1.8 |
1.4 |
-0.4 |
8.3 |
-8.2 |
|
Receivables |
-9.4 |
-14.3 |
0.1 |
2.8 |
-3.8 |
|
Other Assets |
0.1 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
Deferred Income |
7.8 |
8.3 |
7.5 |
- |
- |
|
Subscripers Deposit |
2.8 |
2.5 |
2.7 |
- |
- |
|
Payables |
0.7 |
6.9 |
1.2 |
0.1 |
8.0 |
|
Accrued Expense & Other Payable |
0.3 |
0.2 |
0.2 |
- |
- |
|
End of Service paid |
-0.6 |
-0.2 |
-0.4 |
- |
- |
|
Provision Paid |
-0.1 |
-0.2 |
0.0 |
- |
- |
|
Tax Paid |
-1.2 |
-1.9 |
-1.4 |
- |
- |
|
Insurance Payables |
- |
- |
- |
2.7 |
2.5 |
|
Other Liabilities |
- |
- |
- |
0.7 |
1.6 |
|
Cash from Operating Activities |
25.6 |
15.6 |
27.9 |
27.5 |
9.2 |
|
|
|
|
|
|
|
|
Sale of Fixed Assets |
0.9 |
0.2 |
0.9 |
- |
- |
|
Purchase of Fixed Assets |
-18.8 |
-15.4 |
-11.6 |
-11.8 |
-11.3 |
|
Construction in Progress |
-8.0 |
-8.9 |
-8.3 |
-3.2 |
-1.8 |
|
Interest Received |
0.0 |
0.1 |
0.2 |
- |
- |
|
Paid for Kadaya Tarodat |
0.0 |
0.0 |
-0.1 |
- |
- |
|
Dividend from AFS Financal Assets |
- |
- |
0.0 |
- |
- |
|
Dividend from Fin Assets at FVTPL |
0.1 |
0.0 |
0.0 |
- |
- |
|
Excess in Members Share |
- |
- |
- |
0.9 |
1.5 |
|
Cash from Investing Activities |
-25.9 |
-24.1 |
-18.8 |
-14.1 |
-11.5 |
|
|
|
|
|
|
|
|
Loans |
- |
- |
- |
-0.1 |
-0.3 |
|
Banks Overdraft |
- |
- |
- |
-3.4 |
2.1 |
|
Dividends Paid |
-4.8 |
-6.7 |
-7.7 |
-4.5 |
-0.7 |
|
Interest paid |
-0.6 |
-0.1 |
0.0 |
- |
- |
|
Cash from Financing Activities |
-5.5 |
-6.7 |
-7.7 |
-8.0 |
1.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-5.7 |
-15.3 |
1.3 |
5.4 |
-1.1 |
|
|
|
|
|
|
|
|
Cash- Beginning Balance |
-7.1 |
8.1 |
6.8 |
1.4 |
2.5 |
|
Cash- Ending Balance |
-12.9 |
-7.1 |
8.1 |
6.8 |
1.4 |
|
Cash Interest Paid |
0.6 |
0.1 |
0.0 |
- |
- |
|
Cash Taxes Paid |
1.2 |
1.9 |
1.4 |
- |
- |
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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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.89 |
|
UK Pound |
1 |
Rs.103.95 |
|
Euro |
1 |
Rs.88.09 |
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.