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How much was the working capital each year

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Reference no: EM132465756

Use the attached financial statements of Dangote Cement Plc (DCP) to answer the following questions: (Note: use the Group figures not the Company)

Question a. Construct the accounting equation for each year (2017 &2018). Explain where the differences in Owners' Equity came from.

Question b. How much was the working capital each year? Did it improve or deteriorate?

Question c. Determine EBIT & EBITDA for each of the years 2017 & 218. Did the profitability as a percentage of revenues increase or decrease. Show your figures.

 

 

G'OUP

 

ny

 

Wan

Yaw ended 31/12/18 Wmillion

Year ended 3,112/17 *Won

Year ended 31/12/18 temillion

Year erded 31112/17 tfmilial

Revenue

5

901,213

805,582

618.301

552,384

Production cost of sales

7

(383.311)

(351,290)

(170.268)

(158594)

Gross profit

 

617.902

454,292

448.013

393,770

Administrative expenses

8

(62.601)

(45,380)

(27,108)

(22,571)

Soling and distribution expenses

9

(136926)

(109917)

(89.278)

(08,883)

Other income

1

10,222

5,213

3.783

3,388

Profit from operating activities

 

338,898

304.208

336,410

305,902

Finance income - interest

10

11.323

9.138

37.705

38,383

Finance income - others

10

-

28,790

41,673

34,903

Finance costs

10

(49,778)

(52711)

(22.686)

(35,035)

Share of profit from associate

17.3

683

2.187

-

-

Profit before tax

 

300,808

289.590

392,223

342.153

Income tax credit/(expense)

14

89.619

(85,342)

89.233

(87,523)

Profit for the year

 

390,326

204.248

481,458

264,830

Profit for the year attributable to

 

 

 

 

 

Owners of the Company

 

388,983

198.585

481,466

264,630

Non-controlling interests

 

1,342

5,883

-

-

 

 

390.326

204.248

481,466

254,830

Earnings per share, basic and diluted (Naira)

13

22.83

11.85

28.26

14.94

 

 

Group

 

COMAGM1/

 

Nacic

31/12/18 WI'SIlion

31/12/17
MAMA

31/12/18

1,8188011

31/12/17
.180011

Assets

Non-current assets

 

 

 

 

 

Property, plant and equipment

16

1,171,864

1.192,140

535,934

549.982

Intangible assets

18

6,969

8,355

48

37

Investments in subsidiaries

17.2

-

-

162.071

181,957

Investment in associate

17.3

4,312

3,749

1,682

1,682

Finance lease receivables

21

0,476

8,814

6.476

8.814

Deferred tax asset

14.3

40,022

30,825

14,661

8,874

Prepayments for property plant and equipment

18.1

36,383

16,101

-

1.600

Other receivable*

30

-

-

660,277

455.792

Total non-current assets

 

1,286.626

1,255,584

1,280.948

1,184,218

Current assets

 

 

 

 

 

Inventories

19

106,998

94,594

69,820

82,259

Trade and other receivables

20

44,468

30,165

11,046

12,340

Prepayments and other current assets

18.2

101,883

115,498

262,689

248,194

Finance lease receivables

21

2,380

1,808

2,380

1,808

Current income tax receivables

14.2

6,213

50

6,211

-

Cash and bank balances

31

166.896

168.387

108,980

102.468

Total current assets

 

428 838

410,299

441,0213

426,889

Total assets

 

1,694,463

1.865.883

1,721,874

1,611.087

Liabilities

 

 

 

 

 

Current liabilities

 

 

 

 

 

Trade and other payables

24

230,970

270,721

92,879

142.737

Current income tax payable

14.2

9,223

63,901

8,808

03.787

Financial liabilities

25

220.128

144,783

146,436

86,190

Otter Current babiltieS

26.2

36,186

41.071

37,836

61.242

Total current liabilities

 

496,606

520,478

284,769

343,958

Noncurrent liabilities

 

 

 

 

 

Deferred tax !abilities

14.3

83,360

118,898

80,033

118,491

Financial liabilities

25

126,726

242,894

82,168

167,195

Long-term provisions and other charges

27

2,763

3,418

1,310

2,073

Deferred revenue

28.1

616

830

166

355

Total non-current liabilities

 

212.344

384.047

143.067

276.114

Total liabilities

 

707 860

884,623

428,428

820,070

Net assets

 

980.013

781.360

1.293.648

991.017

Equity

 

 

 

 

 

Share capital

22.1

8,620

8,520

8,620

8,520

Share premium

22.1

42,430

42,430

42.430

42,430

Capital contribution

22.4

2.877

2,877

2.828

2,828

Currency translation reserve

22.3

72,606

75,441

-

-

Retained earnings

 

848.096

639.462

1,239,770

937.239

Equity attributable to owners of the Company

 

976,127

788,730

1,293,648

991,017

Non-controlling interest

 

11,486

12,830

-

-

Mrr

CM-0                                                                                                                                                                       CCenCarq

Yost Ontled                                                            war slate         Year snare                       VW *mood

                                                                                                     31'122/17                                      31/12/18                              3113117

                                                                                                 10n1 01                     Winton                                  NM I on

Coot haws from operating      rue

 

 

 

 

L., roil tetra tax

300.808

289.500

392,223

342,153

43941111611$ 53r:

 

 

 

 

Depreciation and amortisation                                                  15,18

96,203

83.939

61,809

43.959

Write Cif and impairrnent C0PrOpeny. plant and equOment

360

287

 

197

Inter.St expenSe                                                                                                                   10

41,413

52.101

22,312

34.425

interest income                                                                         10

(11,323)

rum

(37,7061

(38.083)

Net realised °change (gainylccd an borrowings and noneporatirg ascots

(1.970)

(34,744)

(60,399)

(43.284)

Snare of inrCena horn arSOCiata

(683)

((,187)

 

 

Amortisation of cialarrOCI rhino,

(308)

(200)

(274)

(340)

Other OrCe0Siant

(883)

72

(783)

(229)

Lea On OepeCal of property. pant and oquipmoni

469

58

6

68

 

424,416

379.701

077,208

340.560

Changes In working cannel

 

 

 

 

Gorge in inventOrreS

(11,997)

(11,891)

3,119

(8.409)

Gorge in trade and Other n960900103

(13,957)

0.878)

2,471

(463)

093rge in trade and Other P37013103

(10,560)

2.818

(32,907)

(18,814)

Cnorge in Repayments and Ogler CurrEo)a33948

8.996

(33.022)

1.760

(20,819)

Gorge in other current lablited

(5.594)

16,222

(7.606)

10,217

 

383.004

348,359

343.970

500,242

Receipt from OntOnterS On 6)3109 leaSe k.04

3.507

238

3,507

238

income tax paid                                                                       14.2

(11.103)

(3213)

(10.291)

C2.514

Net cash generated from operating activities

375.348

345,375                       337,188                   207,088

Cash haves from investing activities into-cei masted

9,974

0,1315

6,476

8,070

Acquisition of irnarVbe =QM

(796)

(1.839)

(27)

(21)

i'f'Cre0Selide0986e in reCei?bleS hem SubSdarieS

 

 

(38,1370)

6.811

Acquisition C4 investment

 

 

(8)

(2,541)

Acquisition of property. plant and equipment

(131,045)

(107.953)

(61,716)                          181.494

A3090n3 to property. pLant Od                   equipment                                                             15

010,624

(85.821)

(42,146)

010,470)

Cqarge in non-harem prepayment

(17,307)

(2.905)

1.600

0.800)

Net suppler' Creett mown

(26.116)

(19427)

(21171)

(19,427)

Net Cash used in investing activities

(121287)

(100.458)

p hi 148)

(51,278)

Cash flows from financing aCtivities in,n.ne.teatd

(45.782)

(48354

(27.486)

;30,034)

ravoondt. paid

(178.926)

(144.844)

(173926)

(144,844)

10305 Obtained

216,052

310.650

197,717

263.152

Lean.; repaid

(247,399)

p08.008)

(227,034)

(297,100)

Net cash used In financing activities                                   (257,054)       (190,811)               (236,628)    (209,734

ipecreassyncrease rt cazh and C0Mh equvaiellM                                  (3.673)                 64.308                        6.612                 38,1368

Reference no: EM132465756

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