Suez Cement Company's consolidated balance sheet from 2010-2015 is presented. Non-current assets accounted for 70.92-77.6% of total assets, with fixed assets representing the largest portion at 35-39%. Current assets made up 29.08-32.52% of total assets. Total equity financed 65.66-73.87% of investment, with retained earnings representing 30.13-31.31%. Non-controlling interest accounted for 6.4-7.12% and non-current liabilities financed 2.94-5.04% of investment.
Horniman Horticulture, FIL 349 ( Advanced Financial Theory and Problems)CameronMcintosh8
Overview: This is a presentation on Horniman Horticulture, we have devised a Naïve and Revised forecast to extrapolate out the income statement and balance sheet from 2016 to 2018. Our presentation outlines the difference between Profits and Cash. Horniman Horticulture had high profitability but their cash balance was decreasing year-over-year. Our Revised Forecast applies our assumptions to create manageable growth without addition financing through debt or equity.
Problem: Horniman Horticulture started with a cash balance $120,000 at the end of 2012, then decreased to $9,400 at the end 2015. Cash was eroding year-over-year with no signs of stopping as the naive forecast shows they will have a negative cash balance in 2016 through 2018.
Solution/Assumption: We discovered that Horniman Horticulture was growing to fast for the business to fund its operations without debt or equity. Their cash cycle was above industry average with high receivable days, low payable days, and high inventory days. We kept payable days constant as the firm gets a 2% discount from suppliers when paid under 10 days. We increased receivable days and inventory days as they go to a more mature plant which increase gross margin. The change in cash cycle decreases revenue growth from 30% to and controllable growth of 8.3%.
It is all about Financial Analysis and Financial Statements. Also it contain some comparison of financial ratios to past, industry average, sector and firms.
Horniman Horticulture, FIL 349 ( Advanced Financial Theory and Problems)CameronMcintosh8
Overview: This is a presentation on Horniman Horticulture, we have devised a Naïve and Revised forecast to extrapolate out the income statement and balance sheet from 2016 to 2018. Our presentation outlines the difference between Profits and Cash. Horniman Horticulture had high profitability but their cash balance was decreasing year-over-year. Our Revised Forecast applies our assumptions to create manageable growth without addition financing through debt or equity.
Problem: Horniman Horticulture started with a cash balance $120,000 at the end of 2012, then decreased to $9,400 at the end 2015. Cash was eroding year-over-year with no signs of stopping as the naive forecast shows they will have a negative cash balance in 2016 through 2018.
Solution/Assumption: We discovered that Horniman Horticulture was growing to fast for the business to fund its operations without debt or equity. Their cash cycle was above industry average with high receivable days, low payable days, and high inventory days. We kept payable days constant as the firm gets a 2% discount from suppliers when paid under 10 days. We increased receivable days and inventory days as they go to a more mature plant which increase gross margin. The change in cash cycle decreases revenue growth from 30% to and controllable growth of 8.3%.
It is all about Financial Analysis and Financial Statements. Also it contain some comparison of financial ratios to past, industry average, sector and firms.
Accounting Standards for Government Entities other than Government Business Enterprises (GBEs). This accounting standard is international standard for Governments, Government Autonomous bodies, Government Financial Institutions (not commercial entities). IFRS is international standard for Corporates, which is applicable to Government Business Enterprises. Different nations have adopted and adapted the IPSAS, Cash or Accrual or modified Cash IPSAS. Governments has named the standards by the name of respective Governments. The presentation covers IPSAS 1: Presentation of Financial Statement
IPSAS 2: Cash Flow Statement
IPSAS 3: Accounting Policies, Changes in Accounting Estimates & Errors
IPSAS 4: Changes in Forex Rate
IPSAS 5: Borrowing Cost
IPSAS 6: Consolidated and separate FS
IPSAS 7: Investments in Associates
IPSAS 8: Interest in Joint Venture
IPSAS 9: Revenue from Exchange Transactions
IPSAS 10: Financial Reporting in Hyperinflationary Economies
IPSAS 11: Construction Contract
IPSAS 12: Inventories
IPSAS 13: Leases
IPSAS 14: Events after the Reporting Date
IPSAS 16: Investment Property
IPSAS 17: Property, plant & Equipment
IPSAS 18: Segment Reporting
IPSAS19: Provisions Contingent Liabilities & Assets
IPSAS 20: Related Party disclosures
IPSAS 21: Impairment of Non-Cash Generating Asset
IPSAS 22: Disclosure of Financial Information About the General Government Sector
IPSAS 23: Revenue from Non-Exchange Transactions(Tax & Transfer)
IPSAS 24: Presentation of Budget information in FS
IPSAS 25: Employee Benefits
IPSAS 26: Impairment of Cash Generating Asset
IPSAS 27: Agriculture
IPSAS 28: Financial Instrument Presentation
IPSAS 29: FI: Recognition & Measurement
IPSAS 30: Financial Instrument Disclosure
IPSAS 31: Intangible Asset
IPSAS 32: Service Concession Arrangements: Grantor
We have picked up HUL balance sheets of years from ACE-Equity and applied some ratio analysis to analyze the trend and predict next year results of the company.
Accounting Standards for Government Entities other than Government Business Enterprises (GBEs). This accounting standard is international standard for Governments, Government Autonomous bodies, Government Financial Institutions (not commercial entities). IFRS is international standard for Corporates, which is applicable to Government Business Enterprises. Different nations have adopted and adapted the IPSAS, Cash or Accrual or modified Cash IPSAS. Governments has named the standards by the name of respective Governments. The presentation covers IPSAS 1: Presentation of Financial Statement
IPSAS 2: Cash Flow Statement
IPSAS 3: Accounting Policies, Changes in Accounting Estimates & Errors
IPSAS 4: Changes in Forex Rate
IPSAS 5: Borrowing Cost
IPSAS 6: Consolidated and separate FS
IPSAS 7: Investments in Associates
IPSAS 8: Interest in Joint Venture
IPSAS 9: Revenue from Exchange Transactions
IPSAS 10: Financial Reporting in Hyperinflationary Economies
IPSAS 11: Construction Contract
IPSAS 12: Inventories
IPSAS 13: Leases
IPSAS 14: Events after the Reporting Date
IPSAS 16: Investment Property
IPSAS 17: Property, plant & Equipment
IPSAS 18: Segment Reporting
IPSAS19: Provisions Contingent Liabilities & Assets
IPSAS 20: Related Party disclosures
IPSAS 21: Impairment of Non-Cash Generating Asset
IPSAS 22: Disclosure of Financial Information About the General Government Sector
IPSAS 23: Revenue from Non-Exchange Transactions(Tax & Transfer)
IPSAS 24: Presentation of Budget information in FS
IPSAS 25: Employee Benefits
IPSAS 26: Impairment of Cash Generating Asset
IPSAS 27: Agriculture
IPSAS 28: Financial Instrument Presentation
IPSAS 29: FI: Recognition & Measurement
IPSAS 30: Financial Instrument Disclosure
IPSAS 31: Intangible Asset
IPSAS 32: Service Concession Arrangements: Grantor
We have picked up HUL balance sheets of years from ACE-Equity and applied some ratio analysis to analyze the trend and predict next year results of the company.
Sui Southern Gas Company (SSGC) is Pakistan’s leading integrated gas Company. The company is engaged in
the business of transmission and distribution of natural gas besides construction of high pressure transmission
and low pressure distribution systems.
SSGCL transmission system extends from Sui in Baluchistan to Karachi in Sind comprising over 3,220 KM of
high pressure pipeline ranging from 12 – 24″ in diameter. The company also owns and operates the only gas
meter manufacturing plant in the country, having an annual production capacity of over 750,000 meters.
The Company is managed by an autonomous Board of Directors for policy guidelines and overall control.
Presently, SSGC’s Board comprises of 14 members
The income tax law - The tax on the income of natural personsAnas Abdussalam
The income tax law - The tax on the income of natural persons
قانون الضريبة على الدخل: الضريبة على دخل الأشخاص الطبيعيين
محدث بالتعديلات حتى 1 يناير 2016
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just what'sapp this number below. I sold about 3000 pi coins to him and he paid me immediately.
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What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the what'sapp contact of my personal pi merchant to trade with.
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The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the what'sapp number.
+12349014282
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
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BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
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Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
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Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
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12. Suez Cement Company (S.A.E)
Consolidated Cash Flow Statement
2015 2014 2013 2012 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Profits for the period before income taxes (80,040,749) 804,096,604 813,567,863 789,194,955 957,471,204 1,831,268,469
Depreciation of fixed assets 464,148,123 448,352,886 379,343,608 348,584,670 361,267,095 417,241,185
Impairment of accounts and notes receivable (1,937,744) 641,172 5,813,561 8,395,976 7,299,435 5,667,061
Decline in value of inventory (789,978) (15,630,541) (26,431,558) 5,807,944 17,823,628 5,754,983
Provisions 61,439,505 70,382,700 51,016,961 65,005,714 57,566,686 316,993,530
Provisions no longer required (51,366,774) (23,252,452) (17,980,874) (4,116,088) (6,745,370) (201,009,014)
Reversal of impairment of prepayments and other receivables (1,652,164) (840,751) (342,010) ‐ ‐ ‐
Liabilities against end of service plan 67,824,700 3,368,194 35,197,622 ‐ ‐ ‐
Investment income in an associate company (2,729,789) (2,726,092) (2,405,348) (3,936,272) (5,157,738) (8,680,727)
Finance expenses 35,430,257 23,014,971 12,744,274 5,544,482 5,444,550 19,777,407
Credit interests (67,465,406) (78,250,457) (55,202,690) (39,598,150) (122,034,685) (140,368,787)
Impairment in the value of projects under construction 3,024,269 ‐ ‐ ‐ ‐ ‐
(Gain) from sale of fixed assets (1,005,336) (4,962,163) 70,258 (3,101,743) (3,739,770) 443,152
Foreign exchange differences ‐ ‐ ‐ (48,744,733) 7,404,076 3,179,916
Operating profits before changes in working capital 424,878,914 1,224,194,071 1,195,391,667 1,123,036,755 1,276,599,111 2,250,267,175
Change in inventory (55,875,884) (334,334,588) (13,094,609) 187,607,505 (63,785,413) (94,827,005)
Change in accounts and notes receivable, and prepayments and other receivables 66,216,239 (200,754,907) 128,206,219 (100,853,851) 69,781,102 (47,949,033)
Change in accounts payable, and accrued expenses and other payables (113,764,059) 632,205,325 33,248,716 63,768,092 33,999,123 111,957,497
Cash from operations 321,455,210 1,321,309,901 1,343,751,993 1,273,558,501 1,316,593,923 2,219,448,634
Finance expenses paid (35,430,257) (23,014,971) (12,744,274) (5,544,482) (5,444,550) (19,777,407)
Income taxes paid (224,483,536) (223,514,676) (202,719,817) (213,946,424) (423,674,916) (294,342,067)
Tax differences paid (4,671,464) (5,159,507) (2,551,251) (3,829,415) (3,126,884) (4,578,394)
Payment in respect of end of service plan (3,150,000) (3,150,000) (2,925,000) ‐ ‐ ‐
Provisions used (8,633,464) (43,661,865) (32,677,035) (54,861,507) (83,209,146) (84,281,503)
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES 45,086,489 1,022,808,882 1,090,134,616 995,376,673 801,138,427 1,816,469,263
CASH FLOWS FROM INVESTING ACTIVITIES
Payments to acquire fixed assets (42,067,448) (48,460,847) (50,206,748) (6,153,985) (35,913,550) (17,883,957)
Proceeds from debtors‐sale of fixed assets 1,293,499 1,812,825 100,000 1,400,000 770,580 3,652,127
Proceeds from sale of fixed assets 1,346,915 10,883,723 1,163,468 11,180,644 6,430,030 1,676,923
Payments in respect of projects under construction (269,353,540) (603,146,733) (379,319,840) (239,946,755) (292,318,652) (397,878,180)
Increase of fixed assets ‐ Fixed assets of International City for Ready Mix ( K.S.A) ‐ (199,126,517) (173,130,621) ‐ ‐ ‐
Changes in amounts paid under investment in subsidiaries ‐ ‐ (1,972,447) ‐ ‐ ‐
Proceeds from investment in an associate company 1,379,435 1,856,579 3,323,915 7,401,756 13,663,394 6,353,637
Change in amounts paid under investment in subsidiaries and other companies ‐ (700,000) 41,707,494 (100,000) ‐ (11,743,972)
Credit interests received 67,465,406 78,250,457 55,202,690 39,598,150 122,034,685 140,368,787
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES (239,935,733) (758,630,513) (503,132,089) (186,620,190) (185,333,513) (275,454,635)
CASH FLOWS FROM FINANCING ACTIVITIES
Change in medium term loans and other long term liabilities 5,286,663 69,713,361 25,500,301 (15,856,259) 41,068,162 (209,193,905)
Change in banks ‐ credit balance ‐ ‐ ‐ 267,178 ‐ ‐
Change in credit facilities ‐ ‐ ‐ ‐ (12,521,988) (9,726,745)
Dividends paid (555,986,502) (575,344,362) (357,421,779) (580,562,814) (763,145,861) (881,386,263)
Dividends paid to non‐controlling interest (7,632,942) (49,654,657) (86,418,774) (108,474,813) (155,934,178) (150,521,968)
Changes in non‐controlling interest 15,931,074 44,112,287 14,896,537 18,062,032 (30,461,140) (6,237,757)
Adjustments on retained earnings ‐ (173,626) (72,813) (368,378) (71,121) (18,049,456)
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES (542,401,707) (511,346,997) (403,516,528) (686,933,054) (921,066,126) (1,275,116,094)
Net Increase (decrease) in cash and cash equivalent during the Year (737,250,951) (247,168,628) 183,485,999 121,823,429 (305,261,212) 265,898,534
Foreign exchange differences ‐ ‐ ‐ 48,744,733 (7,404,076) (3,179,916)
Foreign currencies translation differences related to fixed assets (25,338,824) 1,119,381 (6,395,080) (3,831,724) (5,275,857) (8,573,103)
Change in cumulative foreign currencies translation differences 11,804,707 (5,517,809) 11,830,598 7,710,669 8,065,267 17,814,230
Cash and cash equivalent ‐ beginning of the year 1,626,454,394 1,814,046,625 1,622,317,094 1,447,869,987 1,757,745,865 1,485,786,120
CASH AND CASH EQUIVALENT – END OF THE YEAR 875,669,326 1,562,479,569 1,811,238,611 1,622,317,094 1,447,869,987 1,757,745,865
For the purpose of preparing the consolidated statement of cash flows, cash and cash
equivalent comprise of the following:
Cash on hand and at banks 1,060,315,580 1,626,454,394 1,814,046,625 1,622,317,094 1,447,869,987 1,757,745,865
Less: Bank overdraft (184,646,254) (63,974,825) (2,808,014) ‐ ‐ ‐
CASH AND CASH EQUIVALENT 875,669,326 1,562,479,569 1,811,238,611 1,622,317,094 1,447,869,987 1,757,745,865
Anas Abdussalam
13. Suez Cement Company (S.A.E)
Consolidated Cash Flow Statement
2015 2014 2013 2012 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Profits for the period before income taxes ‐1.42% 13.07% 16.11% 17.17% 19.86% 29.77%
Depreciation of fixed assets 8.23% 7.29% 7.51% 7.58% 7.49% 6.78%
Impairment of accounts and notes receivable ‐0.03% 0.01% 0.12% 0.18% 0.15% 0.09%
Decline in value of inventory ‐0.01% ‐0.25% ‐0.52% 0.13% 0.37% 0.09%
Provisions 1.09% 1.14% 1.01% 1.41% 1.19% 5.15%
Provisions no longer required ‐0.91% ‐0.38% ‐0.36% ‐0.09% ‐0.14% ‐3.27%
Reversal of impairment of prepayments and other receivables ‐0.03% ‐0.01% ‐0.01% ‐ ‐ ‐
Liabilities against end of service plan 1.20% 0.05% 0.70% ‐ ‐ ‐
Investment income in an associate company ‐0.05% ‐0.04% ‐0.05% ‐0.09% ‐0.11% ‐0.14%
Finance expenses 0.63% 0.37% 0.25% 0.12% 0.11% 0.32%
Credit interests ‐1.20% ‐1.27% ‐1.09% ‐0.86% ‐2.53% ‐2.28%
Impairment in the value of projects under construction 0.05% ‐ ‐ ‐ ‐ ‐
(Gain) from sale of fixed assets ‐0.02% ‐0.08% 0.00% ‐0.07% ‐0.08% 0.01%
Foreign exchange differences ‐ ‐ ‐ ‐1.06% 0.15% 0.05%
Operating profits before changes in working capital 7.53% 19.90% 23.67% 24.43% 26.48% 36.58%
Change in inventory ‐0.99% ‐5.43% ‐0.26% 4.08% ‐1.32% ‐1.54%
Change in accounts and notes receivable, and prepayments and other receivables 1.17% ‐3.26% 2.54% ‐2.19% 1.45% ‐0.78%
Change in accounts payable, and accrued expenses and other payables ‐2.02% 10.28% 0.66% 1.39% 0.71% 1.82%
Cash from operations 5.70% 21.48% 26.61% 27.70% 27.31% 36.08%
Finance expenses paid ‐0.63% ‐0.37% ‐0.25% ‐0.12% ‐0.11% ‐0.32%
Income taxes paid ‐3.98% ‐3.63% ‐4.01% ‐4.65% ‐8.79% ‐4.78%
Tax differences paid ‐0.08% ‐0.08% ‐0.05% ‐0.08% ‐0.06% ‐0.07%
Payment in respect of end of service plan ‐0.06% ‐0.05% ‐0.06% ‐ ‐ ‐
Provisions used ‐0.15% ‐0.71% ‐0.65% ‐1.19% ‐1.73% ‐1.37%
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES 0.80% 16.63% 21.59% 21.65% 16.62% 29.53%
CASH FLOWS FROM INVESTING ACTIVITIES
Payments to acquire fixed assets ‐0.75% ‐0.79% ‐0.99% ‐0.13% ‐0.75% ‐0.29%
Proceeds from debtors‐sale of fixed assets 0.02% 0.03% 0.00% 0.03% 0.02% 0.06%
Proceeds from sale of fixed assets 0.02% 0.18% 0.02% 0.24% 0.13% 0.03%
Payments in respect of projects under construction ‐4.77% ‐9.80% ‐7.51% ‐5.22% ‐6.06% ‐6.47%
Increase of fixed assets ‐ Fixed assets of International City for Ready Mix ( K.S.A) ‐ ‐3.24% ‐3.43% ‐ ‐ ‐
Changes in amounts paid under investment in subsidiaries ‐ ‐ ‐0.04% ‐ ‐ ‐
Proceeds from investment in an associate company 0.02% 0.03% 0.07% 0.16% 0.28% 0.10%
Change in amounts paid under investment in subsidiaries and other companies ‐ ‐0.01% 0.83% 0.00% ‐ ‐0.19%
Credit interests received 1.20% 1.27% 1.09% 0.86% 2.53% 2.28%
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES ‐4.25% ‐12.33% ‐9.96% ‐4.06% ‐3.84% ‐4.48%
CASH FLOWS FROM FINANCING ACTIVITIES
Change in medium term loans and other long term liabilities 0.09% 1.13% 0.51% ‐0.34% 0.85% ‐3.40%
Change in banks ‐ credit balance ‐ ‐ ‐ 0.01% ‐ ‐
Change in credit facilities ‐ ‐ ‐ ‐ ‐0.26% ‐0.16%
Dividends paid ‐9.85% ‐9.35% ‐7.08% ‐12.63% ‐15.83% ‐14.33%
Dividends paid to non‐controlling interest ‐0.14% ‐0.81% ‐1.71% ‐2.36% ‐3.23% ‐2.45%
Changes in non‐controlling interest 0.28% 0.72% 0.30% 0.39% ‐0.63% ‐0.10%
Adjustments on retained earnings ‐ 0.00% 0.00% ‐0.01% 0.00% ‐0.29%
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES ‐9.61% ‐8.31% ‐7.99% ‐14.94% ‐19.11% ‐20.73%
Net Increase (decrease) in cash and cash equivalent during the Year ‐13.07% ‐4.02% 3.63% 2.65% ‐6.33% 4.32%
Foreign exchange differences ‐ ‐ ‐ 1.06% ‐0.15% ‐0.05%
Foreign currencies translation differences related to fixed assets ‐0.45% 0.02% ‐0.13% ‐0.08% ‐0.11% ‐0.14%
Change in cumulative foreign currencies translation differences 0.21% ‐0.09% 0.23% 0.17% 0.17% 0.29%
Cash and cash equivalent ‐ beginning of the year 28.83% 29.49% 32.13% 31.50% 36.46% 24.15%
CASH AND CASH EQUIVALENT – END OF THE YEAR 15.52% 25.40% 35.87% 35.29% 30.04% 28.57%
For the purpose of preparing the consolidated statement of cash flows, cash and cash
equivalent comprise of the following:
Cash on hand and at banks 18.79% 26.44% 35.93% 35.29% 30.04% 28.57%
Less: Bank overdraft ‐3.27% ‐1.04% ‐0.06% ‐ ‐ ‐
CASH AND CASH EQUIVALENT 15.52% 25.40% 35.87% 35.29% 30.04% 28.57%
Anas Abdussalam
‐30.00%
‐20.00%
‐10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
2015 2014 2013 2012 2011 2010
VERTICAL COMMON‐SIZE ANALYSIS
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES
Net Increase (decrease) in cash and cash equivalent during the Year
Cash and cash equivalent ‐ beginning of the year
CASH AND CASH EQUIVALENT – END OF THE YEAR
14. Suez Cement Company (S.A.E)
Consolidated Cash Flow Statement
2015 2014 2013 2012 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Profits for the period before income taxes ‐4.37% 43.91% 44.43% 43.10% 52.28% 100.00%
Depreciation of fixed assets 111.24% 107.46% 90.92% 83.55% 86.58% 100.00%
Impairment of accounts and notes receivable ‐34.19% 11.31% 102.59% 148.15% 128.80% 100.00%
Decline in value of inventory ‐13.73% ‐271.60% ‐459.28% 100.92% 309.71% 100.00%
Provisions 19.38% 22.20% 16.09% 20.51% 18.16% 100.00%
Provisions no longer required ‐25.55% ‐11.57% ‐8.95% ‐2.05% ‐3.36% ‐100.00%
Reversal of impairment of prepayments and other receivables ‐ ‐ ‐ ‐ ‐ ‐
Liabilities against end of service plan ‐ ‐ ‐ ‐ ‐ ‐
Investment income in an associate company ‐31.45% ‐31.40% ‐27.71% ‐45.34% ‐59.42% ‐100.00%
Finance expenses 179.15% 116.37% 64.44% 28.03% 27.53% 100.00%
Credit interests ‐48.06% ‐55.75% ‐39.33% ‐28.21% ‐86.94% ‐100.00%
Impairment in the value of projects under construction ‐ ‐ ‐ ‐ ‐ ‐
(Gain) from sale of fixed assets ‐226.86% ‐1119.74% 15.85% ‐699.93% ‐843.90% 100.00%
Foreign exchange differences ‐ ‐ ‐ ‐1532.89% 232.84% 100.00%
Operating profits before changes in working capital 18.88% 54.40% 53.12% 49.91% 56.73% 100.00%
Change in inventory ‐58.92% ‐352.57% ‐13.81% 197.84% ‐67.27% ‐100.00%
Change in accounts and notes receivable, and prepayments and other receivables 138.10% ‐418.68% 267.38% ‐210.34% 145.53% ‐100.00%
Change in accounts payable, and accrued expenses and other payables ‐101.61% 564.68% 29.70% 56.96% 30.37% 100.00%
Cash from operations 14.48% 59.53% 60.54% 57.38% 59.32% 100.00%
Finance expenses paid ‐179.15% ‐116.37% ‐64.44% ‐28.03% ‐27.53% ‐100.00%
Income taxes paid ‐76.27% ‐75.94% ‐68.87% ‐72.69% ‐143.94% ‐100.00%
Tax differences paid ‐102.03% ‐112.69% ‐55.72% ‐83.64% ‐68.30% ‐100.00%
Payment in respect of end of service plan ‐ ‐ ‐ ‐ ‐ ‐
Provisions used ‐10.24% ‐51.80% ‐38.77% ‐65.09% ‐98.73% ‐100.00%
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES 2.48% 56.31% 60.01% 54.80% 44.10% 100.00%
CASH FLOWS FROM INVESTING ACTIVITIES
Payments to acquire fixed assets ‐235.22% ‐270.97% ‐280.74% ‐34.41% ‐200.81% ‐100.00%
Proceeds from debtors‐sale of fixed assets 35.42% 49.64% 2.74% 38.33% 21.10% 100.00%
Proceeds from sale of fixed assets 80.32% 649.03% 69.38% 666.74% 383.44% 100.00%
Payments in respect of projects under construction ‐67.70% ‐151.59% ‐95.34% ‐60.31% ‐73.47% ‐100.00%
Increase of fixed assets ‐ Fixed assets of International City for Ready Mix ( K.S.A) ‐ ‐ ‐ ‐ ‐ ‐
Changes in amounts paid under investment in subsidiaries ‐ ‐ ‐ ‐ ‐ ‐
Proceeds from investment in an associate company 21.71% 29.22% 52.32% 116.50% 215.05% 100.00%
Change in amounts paid under investment in subsidiaries and other companies ‐ ‐5.96% 355.14% ‐0.85% ‐ ‐100.00%
Credit interests received 48.06% 55.75% 39.33% 28.21% 86.94% 100.00%
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES ‐87.11% ‐275.41% ‐182.66% ‐67.75% ‐67.28% ‐100.00%
CASH FLOWS FROM FINANCING ACTIVITIES
Change in medium term loans and other long term liabilities 2.53% 33.32% 12.19% ‐7.58% 19.63% ‐100.00%
Change in banks ‐ credit balance ‐ ‐ ‐ ‐ ‐ ‐
Change in credit facilities ‐ ‐ ‐ ‐ ‐128.74% ‐100.00%
Dividends paid ‐63.08% ‐65.28% ‐40.55% ‐65.87% ‐86.58% ‐100.00%
Dividends paid to non‐controlling interest ‐5.07% ‐32.99% ‐57.41% ‐72.07% ‐103.60% ‐100.00%
Changes in non‐controlling interest 255.40% 707.18% 238.81% 289.56% ‐488.33% ‐100.00%
Adjustments on retained earnings ‐ ‐0.96% ‐0.40% ‐2.04% ‐0.39% ‐100.00%
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES ‐42.54% ‐40.10% ‐31.65% ‐53.87% ‐72.23% ‐100.00%
Net Increase (decrease) in cash and cash equivalent during the Year ‐277.27% ‐92.96% 69.01% 45.82% ‐114.80% 100.00%
Foreign exchange differences ‐ ‐ ‐ 1532.89% ‐232.84% ‐100.00%
Foreign currencies translation differences related to fixed assets ‐295.56% 13.06% ‐74.59% ‐44.69% ‐61.54% ‐100.00%
Change in cumulative foreign currencies translation differences 66.27% ‐30.97% 66.41% 43.28% 45.27% 100.00%
Cash and cash equivalent ‐ beginning of the year 109.47% 122.09% 109.19% 97.45% 118.30% 100.00%
CASH AND CASH EQUIVALENT – END OF THE YEAR 49.82% 88.89% 103.04% 92.30% 82.37% 100.00%
For the purpose of preparing the consolidated statement of cash flows, cash and cash
equivalent comprise of the following:
Cash on hand and at banks 60.32% 92.53% 103.20% 92.30% 82.37% 100.00%
Less: Bank overdraft ‐ ‐ ‐ ‐ ‐ ‐
CASH AND CASH EQUIVALENT 49.82% 88.89% 103.04% 92.30% 82.37% 100.00%
Anas Abdussalam
‐300.00%
‐250.00%
‐200.00%
‐150.00%
‐100.00%
‐50.00%
0.00%
50.00%
100.00%
150.00%
2015 2014 2013 2012 2011 2010
HORIZONTAL COMMON‐SIZE ANALYSIS
NET CASH FLOWS PROVIDED FROM OPERATING ACTIVITIES
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES
NET CASH FLOWS (USED IN) FINANCING ACTIVITIES
Net Increase (decrease) in cash and cash equivalent during the Year
109.47% 122.09% 109.19% 97.45% 118.30% 100.00%
CASH AND CASH EQUIVALENT – END OF THE YEAR
15. Suez Cement Company (S.A.E)
Financial Ratio Analysis
2015 2014 2013 2012 2011 2010
Liquidity Ratios:
Current Ratio 1.27 1.45 1.79 1.80 1.84 1.83
Quick Ratio (Acid Test Ratio) 0.57 0.77 1.16 1.13 1.06 1.12
Cash Ratio 0.47 0.68 1.05 0.97 0.91 0.98
Cash Flow Ratio 0.02 0.43 0.62 0.59 0.50 1.01
Net Working Capital 618,979,852 1,085,621,030 1,379,637,679 1,345,661,940 1,348,065,907 1,493,455,803
Net Working Capital Ratio 0.06 0.10 0.14 0.14 0.14 0.15
Leverage Ratios:
Financial Leverage Ratio 1.39 1.36 1.26 1.25 1.24 1.25
Degree of Financial Leverage (DFL) 0.56 1.03 1.02 1.01 1.01 1.01
Degree of Operating Leverage (DOL) ‐ 12.72 0.00 0.40 3.77 2.22
Degree of Total Leverage ‐ 13.09 0.00 0.41 3.79 2.24
Capital Structure and Solvency Ratios:
Debt to Equity Ratio 0.39 0.36 0.26 0.25 0.24 0.25
Long‐Term Debt to Equity Ratio 0.07 0.06 0.04 0.03 0.04 0.02
Debt to Total Assets Ratio 0.28 0.27 0.20 0.20 0.20 0.20
Earnings Coverage Ratios:
Interest Coverage (Times Interest Earned) (1.26) 35.94 64.84 143.34 176.86 93.59
Fixed Charge Coverage (Earnings to Fixed Charges) (1.26) 35.94 64.84 143.34 176.86 93.59
Cash Flow to Fixed Charges 8.83 55.51 102.88 219.80 226.54 107.96
Activity Ratios:
Accounts Receivable Turnover Ratio 17.74 20.45 15.71 13.91 15.70 22.12
Days Sales in Receivables (Average Collection Period) 20.58 17.84 23.23 26.25 23.25 16.50
Inventory Turnover Ratio 4.27 4.97 4.96 4.16 3.83 4.44
Days Sales in Inventory 85.47 73.41 73.64 87.82 95.29 82.13
Accounts Payable Turnover Ratio 6.33 7.36 7.24 7.22 8.14 9.51
Days Purchases in Accounts Payable 57.63 49.56 50.45 50.58 44.85 38.39
Operating Cycle 106.05 91.26 96.87 114.07 118.54 98.63
Cash Cycle 48.41 41.69 46.43 63.49 73.69 60.24
Total Asset Turnover Ratio 0.54 0.59 0.51 0.48 0.49 0.63
Fixed Asset Turnover Ratio 1.71 1.97 1.70 1.51 1.58 4.88
Profitability Ratios:
Gross Profit Margin Percentage 7.49% 17.65% 19.10% 18.53% 22.54% 34.46%
Operating Profit Margin Percentage ‐1.50% 12.08% 14.26% 16.44% 18.15% 28.33%
Net Profit Margin Percentage (Profit Margin on Sales) ‐1.84% 8.55% 11.73% 12.87% 14.02% 23.70%
Cash Flow Margin Percentage 0.80% 16.63% 21.59% 21.65% 16.62% 29.53%
EBITDA Margin Percentage 7.44% 20.73% 23.88% 24.87% 27.47% 36.87%
Return on Invested Capital:
Return on Assets (ROA) ‐1.00% 5.08% 6.03% 6.12% 6.86% 14.83%
Return on Equity (ROE) ‐1.37% 6.66% 7.55% 7.62% 8.55% 18.61%
Return on Common Equity (ROCE) ‐1.37% 6.66% 7.55% 7.62% 8.55% 18.61%
Cash Return on Assets 0.43% 9.88% 11.09% 10.29% 8.13% 18.48%
Market Ratios:
Book Value Per Share 36.19 39.51 39.99 38.95 39.24 40.28
Market‐to‐Book Ratio 1.02 0.91 0.59 0.58 0.96 1.01
Basic Earnings Per Share (BEPS) (0.33) 2.75 2.96 2.88 3.13 6.80
Diluted Earnings Per Share (DEPS) (0.33) 2.75 2.96 2.88 3.13 6.80
Price/Earnings Ratio (111.33) 13.12 7.97 7.88 11.99 6.01
Price/EBITDA Ratio 15.96 5.14 3.56 3.61 5.15 3.28
Earnings Yield (0.01) 0.08 0.13 0.13 0.08 0.17
Dividend Yield 0.00 0.07 0.11 0.12 0.04 0.12
Dividend Payout Ratio 0.00 0.96 0.90 0.92 0.53 0.72
Shareholder Return
Other:
Sustainable Growth Rate ‐1.3739% 0.2377% 0.7910% 0.6172% 4.0381% 5.1988%
Anas Abdussalam
16. Suez Cement Company (S.A.E)
Financial Highlights
Anas Abdussalam
2015 2014 2013 2012 2011 2010
Current Ratio 1.27 1.45 1.79 1.80 1.84 1.83
Quick Ratio (Acid Test Ratio) 0.57 0.77 1.16 1.13 1.06 1.12
Cash Ratio 0.47 0.68 1.05 0.97 0.91 0.98
Cash Flow Ratio 0.02 0.43 0.62 0.59 0.50 1.01
Net Working Capital Ratio 0.06 0.10 0.14 0.14 0.14 0.15
Net Working Capital 618,979,852 1,085,621,030 1,379,637,679 1,345,661,940 1,348,065,907 1,493,455,803
0
200,000,000
400,000,000
600,000,000
800,000,000
1,000,000,000
1,200,000,000
1,400,000,000
1,600,000,000
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
2.00
Liquidity Ratios
1 2 3 4 5 6
Financial Leverage Ratio 1.39 1.36 1.26 1.25 1.24 1.25
Degree of Financial Leverage (DFL) 0.56 1.03 1.02 1.01 1.01 1.01
Degree of Operating Leverage (DOL) 0.00 12.72 0.00 0.40 3.77 2.22
Degree of Total Leverage 0.00 13.09 0.00 0.41 3.79 2.24
Debt to Equity Ratio 0.39 0.36 0.26 0.25 0.24 0.25
Long‐Term Debt to Equity Ratio 0.07 0.06 0.04 0.03 0.04 0.02
Debt to Total Assets Ratio 0.28 0.27 0.20 0.20 0.20 0.20
Interest Coverage (Times Interest Earned) (1.26) 35.94 64.84 143.34 176.86 93.59
Cash Flow to Fixed Charges 8.83 55.51 102.88 219.80 226.54 107.96
(50.00)
0.00
50.00
100.00
150.00
200.00
250.00
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
Leverage Ratios