CWG: QUARTER 1 – FINANCIAL STATEMENTS FOR 2022

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CONDENSED UNAUDITED GROUP FINANCIAL STATEMENTS

MARCH 2022

CWG Plc and its subsidiaries

Interim condensed financial statements for the period ended March 31, 2022

Condensed Statement of Net Income For the period ended March 31, 2022

REMARKSGroup

Company

March 2022

March 2021

March 2022

March 2021

N’000

N’000

N’000

N’000

Revenue

6i

2,946,456

2,707,336

2,233,941

1,765,151

Cost of sales

6ii

(2,158,845)

(2,077,614)

(1,642,228)

(1,297,529)

Gross profit

787 611

629 722

591 713

467,622

Other income

3,384

4,881

3,051

1,420

Functionnary costs

(564,316)

(449,506)

(440,016)

(354,180)

EBITDA

226,679

185,097

154,748

114,862

Depreciation and amortization

(68,218)

(68,911)

(61,955)

(67,453)

EBIT

158,460

116 186

92,794

47,408

Interest and finance charges

(10,403)

(15,422)

(8,032)

(12,275)

Profit / (Loss) before tax

148,057

100,764

84,762

35 134

income tax expense

(14,732)

(11,170)

Profit for the period

133,325

100,764

73,592

35 134

CWG Plc and its subsidiaries

Interim condensed financial statements for the period ended March 31, 2022

Condensed Statement of Financial Position As at March 31, 2022

Group

Company

REMARKS

December 2021

ASSETS

N’000

Non-current assets

Factory owned equipment

7

445,661

Right-of-use asset

8

68,992

intangible asset

9

82,635

Investment in subsidiaries

273 284

Financial asset valued at FVOCI

18,364

Deferred tax assets

888 936

Current assets

Inventories

ten

511 737

Customers and other debtors

11

5,255,722

Installments

12

134,259

Cash and cash equivalents

13

779 177

6,680,895

total assets

7,569,831

Equity

Share the capital

14a

1,262,413

Retained earnings

14b

(326,014)

Reserve of available-for-sale financial assets

10,972

Foreign currency conversion reserve

947 371

Non-current liabilities

Lease

16

20 110

20 110

Current liabilities

Suppliers and other creditors

15

6,147,775

Rental liability

16

25,083

Short-term loans and borrowings

17

85,747

Income tax payable

18

175,699

Contractual liability

168,046

6,602,350

Total responsibilities

6,622,460

Total equity and liabilities

7,569,831

March 2022

N’000

453,773 71,326 63,605 218,558 4,234

March 2022

N’000

439,053 56,398 63,605 273,284 218,558

811 495

646,385

1,050,898

574,110 7,318,054 1,000,749 832,829

584 242 6 104 482 164 704 916 817

574 110 6 484 637 989 699 590 169

9,725,742

7,770,245

8,638,615

10,537,237

8,416,630

9,689,513

1,262,413

(19,869) 10,972 (99,780)

1,262,413 (153,194)

10,972 (62,504)

1,262,413 (252,422)

10,972

1,153,737

1,057,687

1,020,964

20 110

20 110

20 110

20 110

20 110

20 110

7,920,229

45,430

710 317

194 104

493,310

6,767,329

54,371

151,370

179,372

186,391

7,250,738

16,142

710 317

186,869

484 373

9,363,390

7,338,833

8,648,439

9,383,500

7,358,943

8,668,549

10,537,237

8,416,630

9,689,513

The accounts were approved by the Board of Directors on April 29, 2022 and were signed in its name by:Afolabi Sobande Chief Financial Officer FRC/2020/001/00000021960

Adewale Adeyipo Chief Executive Officer FRC/2019/IODN/00000019283

CWG Plc and its subsidiaries

Interim condensed financial statements for the period ended March 31, 2022

Condensed statement of changes in equity For the period ended March 31, 2022 Group

Share capital Issue premium Fair value reserveForeign currency conversion reserveRetained earningsTotalBalance at January 1, 2022 Profit for the year

The other extended result

Balance as of March 31, 2022

N’000 1,262,413

N’000 N’000 10,972

N’000 (62,504)

(37,276)

(153,195)

133,325

N’000

N’000 1,057,686 133,325 (37,276)

1,262,413

10,972.00

(99,780)

(19,870)

1,153,735

Share capital Issue premium Fair value reserveForeign currency conversion reserveRetained earningsTotalBalance at January 1, 2021 Profit for the year

N’000 1,262,413

N’000 1,852,748

N’000 3,974

N’000 (103,345)

N’000

N’000

(2,455,583) 560,207

87 227 87 227

The other extended result Balance as of March 31, 2021

22,891 22,891

1,262,413

1,852,748

3,974

(80,454)

(2,368,356) 670,325

Company

Share the capitalShare the bountyFair value reserveRetained earningsTotalBalance at January 1, 2021 Profit for the year

N’000 1,262,413

N’000 1,852,748

N’000 3,974

N’000

N’000

(2,498,513) 620,622

26,308 26,308

Balance as of March 31, 2021

1,262,413

1,852,748

3,974

(2,472,205)

646 929

CWG Plc and its subsidiaries

Interim condensed financial statements for the period ended March 31, 2022

Condensed Statements of Cash Flows For the period ended March 31, 2022

Company

March 2021

N’000

Cash flow from operating activities

Profit before tax

35 134

Depreciation of property, plant and equipment

32,897

Amortization Asset right of use

14,975

Amortization of intangible assets

19,581

Financial cost

12,275

Net exchange differences

(Gain)/Loss on disposal of property, plant and equipment

Change in working capital:

Inventory changes

(141,139)

Changes in customers and other debtors

(2,389,785)

Down payment changes

(433,852)

Changes in Restricted Cash

Changes in suppliers and other creditors

695 422

Changes in contractual liability

1,438,425

Income tax paid

20,454.41

Net cash (used) from operating activities

(736,521)

Cash flow from investing activities

Purchase of property, plant and equipment

(13,142)

Investment in the FVOCI instrument

Proceeds from the sale of equipment

Interest received

Net cash (used) from investing activities

(13,142)

Cash flow from financing activities

Loan granted/(repayment)

401 142

Interest payment

(12,275)

Lease repayment

(20,367)

Net cash (used) from financing activities

368,500

Increase/ (decrease) in cash

(381,163)

Net exchange difference

Cash and cash equivalents at the beginning of the period

489 434

Cash and cash equivalents at the end of the period

108,271

Group

March 2022

N’000

148,057

31,260

17,927

19,030

10,403

(4,465)

10,132

(1,213,572)

(836,045)

(3,564)

1,152,901

306 919 –

March 2022

N’000

84,762 30,330 12,594 19,030 8,032

(4,465)

(62,373)

(1,228,915)

(855,440)

(3,564)

1,102,964

316 327 –

(361,016)

(33,135) (200,194)

4,465

(948,543)

(14,927)

(580,717)

(23,724) (200,194)

4,465

(228,864)

360,630 (10,403)

(8,941)

(14,927)

401,142 (15,422)

(20,367)

(219,453)

426 253

(8,032)

(8,941)

341,286

365 352

409 281

(248,594)

(37,276) 909,877

(598,118)

22,891,824,989

(390,889)

772 237

624 008

249,762

381 348

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CWG plc published this content on April 29, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on April 30, 2022 00:43:13 UTC.

Public now 2022

Sales

Net revenue

Net debt

P/E ratio
Yield
Capitalization 2,222 million
5.35M
5.35M
EV / Sales -1
EV / Sales 0
# of employees 544
Floating 20.0%


Duration :

Period :




Evolution of the income statement


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