Strategic Roadmap and Financial Performance
Consolidated Group Balance Sheet
AED MN
Property and equipment
31-Dec-21
31-Mar-22
Change
251
247
(4)
Right-of-use assets
118
140
22
Goodwill and intangible assets
Investments in associates
Finance lease receivables
Financial assets at FVOCI
Derivative Instrument
Total Non-Current Assets
Cash and bank balances
Finance lease receivables
Other current assets
Total Current Assets
TOTAL ASSETS
1,211
1,209
(2)
506
513
7
383
382
(1)
34
33
(1)
0
0
0
2,502
2,524
22
878
887
9
38
35
(3)
•
126
110
(16)
1,042
1,031
(11)
3,544
3,556
12
Share capital, premium and statutory reserves
2,530
2,531
1
Cash flow hedge reserve
(2)
0
2
Fair value reserve of financial assets at FVOCI
(22)
(23)
(1)
Retained earnings
263
145
(118)
Total Equity Attributable to the Owners of the Company
2,770
2,654
(116)
Non-controlling interests
(1)
1
2
Total Equity
2,769
2,656
(113)
Bank financing
392
385
(7)
Lease liabilities
107
138
31
Other long-term payables
4
4
0
•
Other long-term liabilities
28
28
(0)
Total Non-Current Liabilities
531
555
24
Bank overdraft
21
5
(16)
Bank financing
52
47
(5)
Accounts and other payables
119
98
(21)
Dividend Payable
0
150
150
Lease liabilities
17
12
(5)
Other current liabilities
35
34
(1)
Total Current Liabilities
244
346
102
Total Liabilities
775
900
125
TOTAL EQUITY AND LIABILITIES
3,544
3,556
12
Key Highlights
AED 113 MN decrease in net assets mainly driven by
dividend payable of AED 150 MN paid subsequent to
the quarter-end
AED 22 MN increase in non-current assets, mainly
driven by:
⚫ Revaluation of the Al-Ain lease facility at
CMRC (AED 26 MN) following a contract extension
and in line with IFRS-16, offset by current period
depreciation
Quarterly share of profitable result at NEMA Holding
and Sukoon (AED 7 MN)
AED 11 MN decrease in current assets, mainly
driven by:
•
.
Quarterly collection of outstanding receivables
(AED 17 MN) at CMRC
Collections at NLCS (AED 12 MN) more than
offsetting quarterly finance lease income (AED 8.3
MN)
Partly offset by increase in cash balances (AED 9
MN)
AED 31 MN increase in non-current lease liabilities
mainly driven by:
Increase in CMRC Al-Ain facility lease liability
following a contract extension (AED 27 MN)
Decrease in bank overdrafts and bank financing
(AED 21 MN), driven by scheduled amortization
payments of the CMRC acquisition finance facility and
partial repayment of the RHWC overdraft (facility is fully
available post period end)
Retained Earnings movement is AED 118 MN due
to the dividend payable of AED 150 MN, partly offset by
AED 32 MN net profit for the quarter
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