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FINANCIAL STATEMENTS

Olympia Capital Holdings: Summarized Financial Statements

By Markets Editor ⋅ September 13, 2007 ⋅ Post a comment
Olympia Capital together with its subsidiaries and associates engages in the production and sale of PVC floor tiles, general purpose adhesives and textile-related products in Eastern and Southern Africa. It also owns equity interest in property investment firms in the same regions.
SUMMARIZED FINANCIAL DATA RELATED TO OLYMPIA CAPITAL HOLDINGS

  • Income statement - Year over year Growth Analysis
  • Five Year Free Cash Flow Analysis
  • An analysis of Key Financial Ratios
  • Income statement - Common Size Analysis
  • Five Year Consolidated Income Statement
  • Five Year Consolidated Balance Sheet
  • Five Year Consolidated Cash flow statements
OLYMPIA CAPITAL HOLDINGS LIMITED
YEAR OVER YEAR GROWTH ANALYSIS
FOR THE PERIOD ENDED 31-Dec-06 31-Dec-05 31-Dec-04 31-Dec-03
Sales 36.24% -0.23% 6.35% 4.26%
Cost of sales 28.07% 7.23% -1.97% 9.18%
Gross Profit 53.63% -13.10% 24.62% -5.12%
Other operating income -22.21% 40.44% 52.52% -50.54%
Distribution costs 20.91% -16.37% 16.27% -37.98%
Administrative expenses 64.89% 18.68% 14.70% -28.61%
Other operating expenses -68.20% -10.91% 15.61% -81.01%
Total Expenses 57.58% 15.47% 14.81% -38.74%
Operating Profit 8.16% -42.42% 46.89% 376.74%
Net Finance (Costs)/Income 303.27% -133.53% -32.85% -68.66%
Profit Before Taxation -3.86% -48.16% 36.67% 68.93%
Taxation Charge -27.19% 17.20% -55.97% 399.21%
Profit Before Minority Interest 0.49% -53.04% 62.15% 42.93%
Minority Interest -26.38% -32.83% -7.19% 36.10%
Profit attributable to shareholders of parent 25.63% -63.36% 162.07% 54.06%
EPS 25.42% -63.24% 163.11% 52.50%
Free Cash Flow Analysis
FOR THE FIVE YEARS ENDED 31-Dec-06 31-Dec-05 31-Dec-04 31-Dec-03 31-Dec-02
Cash Generated from Operations 5 11 14 8 3
Capital Expenditures 39,082 38,717 38,352 37,986 0
Free Cash Flow 39,087 38,728 38,366 37,994 3
OLYMPIA CAPITAL HOLDINGS LIMITED
KEY FINANCIAL RATIO ANALYSIS
FOR THE PERIOD ENDED 31-Dec-06 31-Dec-05 31-Dec-04 31-Dec-03 31-Dec-02
Gross Margin 36.02% 31.95% 36.68% 31.30% 34.40%
Net Margin 3.73% 4.05% 11.02% 4.47% 3.03%
Operating Margin 7.68% 9.67% 16.75% 12.13% 2.65%
Return on Assets (ROA) 3.81% 9.63% 15.26% 12.26% 3.05%
Return on Equity (ROE) 7.14% 6.16% 15.05% 8.69% 8.01%
Inventory Turnover 2.50 5.65 5.47 7.17 6.57
Days Inventory Held 145.71 64.61 66.74 50.88 55.55
Accounts Receivable Turnover 2.37 5.72 7.23 7.05 6.77
Days Receivable Outstanding 154.27 63.80 50.48 51.74 53.94
Accounts Payable Turnover 1.72 3.30 3.28 2.71 2.49
Days Payable Outstanding 212.53 110.77 111.35 134.47 146.81
Current Ratio 0.97 1.35 2.23 1.81 1.38
Quick Ratio 0.62 0.98 1.82 1.50 1.18
Debt to Asset 0.74 0.35 0.33 0.48 0.57
Debt to Equity 2.86 0.53 0.50 0.92 1.30
Long-Term Debt to Equity 0.50 0.07 0.07 0.23 0.19
Fixed Asset Turnover 3.76 3.50 3.81 4.59 4.41
CFO to AvgTotal Liabilities 0.15 0.37 0.30 0.21 0.47
CFO to Capital Expenditure 0.43 4.57 2.86 2.30 3.68
Interest Coverage Ratio 5.21 11.40 14.09 8.45 3.26
Sales Per Share (KES) 39.676 29.1225 29.1887 27.445 26.3232
Net Profit Per Share (KES) 1.48 1.18 3.22 1.23 0.80
EPS Growth 25.42% -63.24% 163.11% 52.50%
OLYMPIA CAPITAL HOLDINGS LIMITED
COMMON-SIZE ANALYSIS
FOR THE PERIOD ENDED 31-Dec-06 31-Dec-05 31-Dec-04 31-Dec-03 31-Dec-02
Sales 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of sales 63.98% 68.05% 63.32% 68.70% 65.60%
Gross Profit 36.02% 31.95% 36.68% 31.30% 34.40%
Other operating income 2.52% 4.41% 3.13% 2.18% 4.60%
Distribution costs 0.73% 0.82% 0.98% 0.90% 1.51%
Administrative expenses 29.86% 24.67% 20.74% 19.23% 28.08%
Other operating expenses 0.28% 1.19% 1.34% 1.23% 6.76%
Total Expenses 30.86% 26.68% 23.06% 21.36% 36.35%
Operating Profit 7.68% 9.67% 16.75% 12.13% 2.65%
Net Finance (Costs)/Income 1.12% 0.38% -1.13% -1.78% -5.93%
Profit Before Taxation 6.56% 9.29% 17.88% 13.91% 8.59%
Taxation Charge 0.78% 1.46% 1.24% 3.00% 0.63%
Profit Before Minority Interest 5.78% 7.83% 16.64% 10.91% 7.96%
Minority Interest 2.05% 3.78% 5.62% 6.44% 4.93%
Profit attributable to shareholders of parent 3.73% 4.05% 11.02% 4.47% 3.03%
OLYMPIA CAPITAL HOLDINGS LIMITED
CONSOLIDATED INCOME STATEMENTS
FOR THE PERIOD ENDED 31-Dec-06 31-Dec-05 31-Dec-04 31-Dec-03 31-Dec-02
Sh’000 Sh’000 Sh’000 Sh’000 Sh’000
Revenue
Sales 396,760 291,225 291,887 274,450 263,232
Cost of sales -253,832 -198,191 -184,824 -188,535 -172,683
Gross Profit 142,928 93,034 107,063 85,915 90,549
Expenses
Other operating income 9,981 12,831 9,136 5,990 12,111
Distribution costs -2,891 -2,391 -2,859 -2,459 -3,965
Administrative expenses -118,459 -71,840 -60,534 -52,778 -73,927
Other operating expenses -1,106 -3,478 -3,904 -3,377 -17,785
Total Expenses -122,456 -77,709 -67,297 -58,614 -95,677
Operating Profit 30,453 28,156 48,902 33,291 6,983
Net Finance (Costs)/Income -4,444 -1,102 3,287 4,895 15,621
Profit Before Taxation 26,009 27,054 52,189 38,186 22,604
Taxation Charge -3,095 -4,251 -3,627 -8,237 -1,650
Profit Before Minority Interest 22,914 22,803 48,562 29,949 20,954
Minority Interest -8,114 -11,022 -16,409 -17,680 -12,990
Profit attributable to shareholders of parent 14,800 11,781 32,153 12,269 7,964
Earnings Per Share - Basic & Diluted 1.48 1.18 3.21 1.22 0.8
OLYMPIA CAPITAL HOLDINGS LIMITED
CONSOLIDATED BALANCE SHEETS
FOR THE PERIOD ENDED 31-Dec-06 31-Dec-05 31-Dec-04 31-Dec-03 31-Dec-02
Sh’000 Sh’000 Sh’000 Sh’000 Sh’000
ASSETS
Non-current assets
Property, plant and equipment 129,613 81,296 85,013 68,288 51,204
Prepaid operating lease rental - - 10,458 9,925 8,271
Intangible assets 127,670 21,933 21,933 15,932 14,565
Investment in associate 62,858 - - - -
Due from related parties 6,945 69,803 - - -
Non current receivables - - - - 2,050
Total Long-Term Assets 327,086 173,032 117,404 94,145 76,090
Current assets
Inventories 169,751 32,917 37,245 30,346 22,213
Trade and other receivables 276,340 59,057 42,756 37,984 39,823
Due from related parties 864 846 72,732 71,789 71,230
Cash and bank balances 25,187 26,437 50,298 37,265 19,365
Total Current Assets 472,142 119,257 203,031 177,384 152,631
TOTAL ASSETS 799,228 292,289 320,435 271,529 228,721
EQUITY AND LIABILITIES
Long-Term Liabilities
Borrowings 98,883 4,802 8,483 20,308 16,731
Deferred Tax 4,920 7,992 7,162 12,021 2,369
Total Long Term Liabilities 103,803 12,794 15,645 32,329 19,100
Current Liabilities
Trade and other payables 229212 66,390 53,901 58,865 80,047
Due to related parties 89,335 3,563 13,394 21,417 11,906
Borrowings 155,426 7,025 12,003 5,762 7,148
Unclaimed dividends 5,844 5,850 5,851 5,851 5,851
Tax payable 8,451 5,456 5,997 6,177 5,267
Total Current Liabilities 488,268 88,284 91,146 98,072 110,219
Total Liabilities 592,071 101,078 106,791 130,401 129,319
Capital and Reserves
Share capital 50,000 50,000 50,000 50,000 50,000
Share premium - - 8,298 - -
Translation reserve -22,168 -15,146 5,782 5,463 642
Revaluation surplus 25,177 25,664 21,496 17,128 15,663
Revenue reserve 85,113 73,154 66,726 28,598 15,973
Equity attributable to equity holders of the parent 138,122 133,672 152,302 101,189 82,278
Minority Interest 69,035 57,539 61,342 39,939 17,124
Total equity 207,157 191,211 213,644 141,128 99,402
TOTAL EQUITY & LIABILITIES 799,228 292,289 320,435 271,529 228,721
CONSOLIDATED CASH FLOW STATEMENTS
FOR THE FIVE YEARS ENDED 31-Dec-06 31-Dec-05 31-Dec-04 31-Dec-03 31-Dec-02
Sh’000 Sh’000 Sh’000 Sh’000 Sh’000
OPERATING ACTIVITIES
Cash Generated from Operations 52,871 38,393 35,479 27,429 61,015
Interest received 1,262 1,093 2,876 1,580 10,784
Interest paid -5,850 -2,469 -3,471 -3,939 -2,144
Tax paid -2,514 -5,224 -10,280 -1,607 -
Net cash generated from operating activities 45,769 31,793 24,604 23,463 69,655
INVESTING ACTIVITIES
Purchase of property, plant and
equipment -124,163 -8,393 -12,394 -11,939 -16,571
Proceeds from disposal of property, plant and equipment - 679 2,368 969 21,907
Proceeds from disposal of investment - - - - 3,763
Investment in associate company -62,858 - - - -
Investment in subsidiary companies -107,441 -11,000 - - -60,867
Net cash used in investing activities -294,462 -18,714 -10,026 -10,970 -51,768
FINANCING ACTIVITIES
Proceeds from borrowings 118,181 968 1,767 15,997 17,857
Dividends paid to minority shareholders -2,491 -2,900 - -549 -
Repayment of borrowings -845 -12,146 -6,614 -5,197 -7,138
Net cash generated from/(used in) financing activities 114,845 -14,078 -4,847 10,251 10,719
Net increase/(decrease) in cash andcash equivalents -133,848 -999 9,731 22,744 28,606
Cash and cash equivalents at beginning of year 22,045 48,425 34,655 14,755 -3,738
Effects of Exchange Rate Changes 7,452 -25,381 4,039 -2,844 -10,113
Cash and cash equivalents at end of year -104,351 22,045 48,425 34,655 14,755

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