Income Statement(EGP 000)

Year / Item 2019 2020 % 2021 %

Sales 2,668,630 100% 2,995,495 100% 3,360,510 100%
COGS (1,989,377) -75% (2,267,765) -76% (2,613,516) -78%
Gross Profit 679,253 25% 727,730 24% 746,994 22%
MKT & Selling Exp. (406,784) -15% (464,672) -16% (589,482) -18%
SG&A Exp. (38,405) -1% (43,216) -1% (49,338) -1%
Other Income 23,503 1% 30,056 1% 36,381 1%
Provisions (18) 0% (12) 0% 376 0%
EBIT 257,549 10% 249,886 8% 144,931 4%
Interest Income 5,928 0% 21,655 1% 37,150 1%
Interest Expense (72,598) -3% (76,144) -3% (96,881) -3%
EBT 190,879 7% 195,397 7% 85,200 3%
Insurance (6,801) 0% (7,630) 0% (8,594) 0%
Income Tax (43,872) -2% (44,279) -1% (19,367) -1%
Net Profit after tax 140,206 5% 143,488 5% 57,239 2%

Balance Sheet (EGP 000)

Year / Item 2019 2020 2021
Current Assets
Cash 63,800 3% 103,457 5% 163,365 7%
T-Bills 72,969 4% 266,079 12% 271,922 11%
Account Rec. 568,655 31% 667,394 31% 637,238 26%
Inventory 296,067 16% 286,651 13% 514,255 21%
Prepaid and other Debt balance 198,166 11% 180,263 8% 279,363 11%
Due from related parties 121,750 7% 120,835 6% - 0%
Total Current Assets 1,321,407 71% 1,624,679 75% 1,866,143 76%
Non-Current Assets
Net Fixed Assets 456,237 25% 437,184 20% 529,997 22%
Construction in progress 64,383 3% 106,778 5% 51,877 2%
Investment in subsideries 10,753 1% 10,753 0.5% 15,382 1%
Total Non-Current Assets 531,373 29% 554,715 25% 597,256 24%
Total Assets 1,852,780 100% 2,179,394 100% 2,463,399 100%
Current Liability
OVDs - Banks 596,006 32% 747,136 34% 1,009,448 41%
CPLTD - Banks 10,826 1% 31,456 1% 30,851 1%
CPLTD - Leasing 3,362 0.2% 244 0.01% 10,223 0.4%
CPLTD - Machines 10,397 1% 2,936 0.1% 2,227 0.1%
Account Payables 221,368 12% 306,631 14% 361,851 15%
Provisions 6,235 0.3% 6,246 0.3% 6,257 0.3%

56,909 3% 58,354 3% 78,406 3%

Accruals and other credit balance
Income Tax payables 32,684 2% 45,552 2% 15,735 1%
Total Current Liabilities 937,787 51% 1,198,555 55% 1,514,998 62%
Non-Current Liabilities
LTD - Banks 112,276 6% 116,683 5% 93,128 4%
LTD - Leasing 243 0.01% 0.0% 39,738 2%
LTD - Machines 2,417 0.1% 833 0.0% 0.0%
AP - LTD 0.0% 0.0% 31 0.001%
Taxes - LTD Machines 1,788 0.1% 870 0.04% 191 0.01%
Deffered Taxes 41,355 2% 40,187 2% 37,157 2%
Total Non-Current Liability 158,079 9% 158,573 7% 170,245 7%
Total Liabilities 1,095,866 59% 1,357,128 62% 1,685,243 68%
Equity
Capital 56,521 3% 56,521 3% 56,521 2%
Legal Reserve 28,261 2% 28,261 1% 28,261 1%
Shares Reserve 283,422 15% 283,422 13% 283,422 12%
Other Reserve 170 0.01% 170 0.01% 170 0.01%
Fixed assets revaluation 50,830 3% 40,412 2% 32,540 1%
Retained Earning 197,506 11% 269,992 12% 377,242 15%
Profit of the year 140,204 8% 143,488 7% 0.0%
Total Equity 756,914 41% 822,266 38% 778,156 32%
Total Liabilities & Equity 1,852,780 100% 2,179,394 100% 2,463,399 100%
Ratios:
Liquidity Ratios
Year/Item 2019 2020 2021
Current Ratio 1.41 1.36 1.23
Quick (Acid-test)Ratio 1.09 1.12 0.89
Cash Ratio 1.33 1.13 1.05
Working Capital EGP 383,620 EGP 426,124 EGP 351,145
OCF Ratio 0.44 0.23 0.11

Activity Ratios

Year/Item 2019 2020 2021

Inventory turnover 6.76 7.78 6.53
No of Days (Inventory) 54.01 46.89 55.93
AR turnover 4.56 4.85 5.15
No of Days (AR) 80.07 75.31 70.85
AP turnover 0.00 0.00 0.00
No of Days (AP) 0.00 0.00 0.00
CCC(Day) 134 122 127
Total Asset Turnover 1.44 1.37 1.36

Profitability Ratios
Year/Item 2019 2020 2021
Profit Margin
Return on Assets

Solvency Ratios
Year/Item 2019 2020 2021
Debt to Total Assets
Times Interest Earned