Investor Presentaiton
ANNUAL REPORT 2020
50
Statement of Financial Position
As at 31 December 2020
Statement of Profit or Loss and Other Comprehensive Income
For the year ended 31 December 2020
In thousands of naira
Assets
Property, plant and equipment
Right of Use Asset
Intangible assets
Prepayments
Total non-current assets
Inventories
Biological assets
Note
2020
2019
In thousands of naira
Note
2020
2019
Continuing operations
18
14
Trade and other receivables
Prepayments
2356
80 196
44,671,480
34,562,400
1,118,193
2,309,169
Revenue from contracts with customers
Cost of sales
5
7(a)
17,006
48,115,848
616,522
54,955
Gross profit
199,527,906
(159,232,853)
40,295,053
161,831,064
(121,903,495)
39,927,569
35,233,877
Other income
8
31,308,968
24,908,950
Selling and distribution expenses
7(a)
189,848
17,986,655
17,491,513
14,797,025
22,360,795
Administrative expenses
7(a)
Writeback on financial assets
26
Derivative assets
20(a)
2,867,272
1,404,116
Results from operating activities
750,812
(15,994,528)
(5,676,577)
46,734
19,421,494
1,462,610
(15,134,185)
(5,470,381)
1,593
20,787,206
Cash and cash equivalents
20(b)
88,702,534
Total current assets
158,546,790
Total assets
206,662,638
71,328,097
106,561,974
7,857,211
Finance income
Finance costs
66
1,464,539
(5,946,784)
Equity
Net finance expense
(4,482,245)
176,389
(2,210,877)
(2,034,488)
Share capital
Share premium
21(a)
21(a)
Retained earnings
Total equity attributable to owners of the Company
488,168
350,211
25,452,534
26,290,913
488,168
350,211
23,396,602
24,234,981
Profit before income tax
7(b)
14,939,249
18,752,718
Liabilities
Income tax expense
Profit for the year
10(a)
(6,160,363)
8,778,886
(6,388,708)
12,364,010
Employee benefits
22
22
Deferred tax liabilities
17
1,367,827
7,012,917
5,968,954
Loans and borrowings
Lease liabilities
24(b)
25
9,722,395
882,649
Other comprehensive income
Total non-current liabilities
791,455
18,894,594
Defined benefit plan actuarial loss
22(b)
(105,866)
6,851,603
Income tax on other comprehensive income
10(c)
Other comprehensive income for the year, net of income tax
31,760
(74,106)
(19,168)
5,750
(13,418)
Current tax liabilities
10(b)
Trade and other payables
Loans and borrowings
Lease liabilities
23
24(a)
25
6,205,189
92,318,922
62,853,020
100,000
4,856,350
68,532,097
2,086,943
Total comprehensive income for the year
8,704,780
12,350,592
Total current liabilities
Total liabilities
Total equity and liabilities
161,477,131
180,371,725
206,662,638
75,475,390
82,326,993
Profit for the year is attributable to:
Owners of the Company
8,778,886
12,364,010
106,561,974
Total comprehensive income for the year is attributable to:
Owners of the Company
8,704,780
12,350,592
The financial statements on pages 50 to 99 were approved by the Board of Directors on 25 February 2021 and
signed on its behalf by:
JMino
Chairman - Jacobs Moyo Ajekigbe, OFR
FRC/2013/IODN/0000000002472
Belangri
Managing Director - Bernard Cheruiyot Langat
FRC/2017/MANUN/00000017493
Earnings per share
Basic and diluted earnings per share (naira)
11
8.99
12.66
Finance Director Marc Galjaard
FRC/2021/001/00000022800
The accompanying notes and significant accounting policies on pages 55 to 96 form an integral part of these
financial statements.
The accompanying notes and significant accounting policies on pages 55 to 96 form an integral part of these
financial statements.
FrieslandCampina WAMCO Nigeria PLC
FrieslandCampina WAMCO Nigeria PLC
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