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GB Auto and its Subsidiaries (S.A.E)
51
GB Auto
•
2012 ANNUAL REPORT
Consolidated balance sheet
At 31 December 2012
___________________
___________________
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Bassem Iskander
Mostafa Elmahdi
Dr. Raouf Ghabbour
Group Finance Director
Chief Financial Officer
Chairman and Managing Director
5 March 2013
Independent auditor’s report attached
(All amounts in thousand Egyptian pounds)
Note
2012
2011
Non-current assets
Property, plant and equipment
5 1,721,061
1,802,674
Intangible assets
6
269,058
261,043
Investment in associates
7
-
2,414
Long term notes receivables
8
42,153
20,226
Deferred tax assets
9
19,089
16,210
Investment property
10
3,117
5,481
Total non-current assets
2,054,478
2,108,048
Current assets
Inventories
11 1,752,269
1,259,846
Assets held-for-sale
12
329,998
-
Accounts and notes receivables
13
781,477
638,894
Debtors and other debit balances
14
456,965
433,455
Due from related parties
15
6,553
3,469
Treasury bills
16
91,202
280,519
Cash on hand and at banks
17 1,173,532
881,041
Total current assets
4,591,996
3,497,224
Current liabilities
Provisions
18
40,658
36,373
Current tax liabilities
19
5,698
21,445
Loans and borrowings
20 1,778,110
1,046,825
Due to related parties
15
30,783
8,387
Trade payables and other credit balances
21 1,267,371
1,056,078
Bond liabilities - short term
22
228,840
305,121
Total current liabilities
3,351,460
2,474,229
Working capital
1,240,536
1,022,995
Total invested funds
3,295,014
3,131,043
Represented in:
Equity
Shareholders’ equity
Share capital
23
128,893
129,000
Payment under capital increase
24
2,258
2,258
Shares held by the group
25
(3,275)
(3,275)
Treasury shares
26
-
(9,462)
Legal reserve
27
225,469
214,158
Other reserves
28 1,052,093
1,036,306
Retained earnings
700,821
614,995
Total Shareholders’ equity
2,106,259
1,983,980
Minority interest
29
424,453
343,942
Total equity
2,530,712
2,327,922
Non-current liabilities
Bond liabilities
22
381,402
610,242
Long-term loans
20
129,302
91,369
Long-term warranty provisions
18
10,856
6,865
Notes payables and creditors long-term
30
115,533
9,090
Deferred revenues
31
9,636
16,025
Deferred tax liabilities
9
55,123
31,096
Amounts under settlement on lease contract
32
62,450
38,434
Total non-current liabilities
764,302
803,121
Total equity and non–current liabilities
3,295,014
3,131,043
The accompanying notes on pages 55 to 85 form an integral part of these consolidated financial statements.