83 / 88
GB Auto and its subsidiaries (S.A.E.)
Notes to the consolidated financial statements For the financial Year ended December 31, 2014
(In the notes all amounts are shown in Thousand Egyptian Pounds unless otherwise stated)
34. Income statement by nature
December
31, 2014
December
31, 2013
Sales
12 322 079
9 126 721
Direct manufacturing cost
(10 208 656)
(7 735 867)
Indirect manufacturing cost
Wages and Salaries
(123 196)
(120 003)
Others
(408 560)
(100 564)
Gross profit
1 581 667
1 170 287
Other income
57 072
30 013
Provisions no longer required
994
10 456
Interest income
15 471
21 565
Interest on installment sales
1 128
2 451
Interest expense
(362 495)
(316 924)
Employees salaries and benefits
(298 922)
(262 704)
Selling and marketing expenses
(103 838)
(71 966)
Bonds interest expenses
(11 575)
(62 407)
Rent expense
(69 206)
(60 193)
Forex (loss)-Net
(155 685)
(17 009)
Provisions formed
(71 499)
(30 856)
Depreciation and amortization
(39 950)
(31 613)
Consulting and advisory services
(12 844)
(38 703)
Transportation
(24 094)
(22 148)
Vehicles expenses
(23 949)
(17 034)
Governmental fees
(10 421)
(17 814)
IT, network and pc’s expenses
(8 299)
(13 121)
Other expenses
(26 131)
(801)
Insurance
(7 545)
(8 641)
Administration supplies
(10 861)
(8 310)
Safety and security expenses
(10 665)
(8 717)
Hounability
(6 685)
(6 225)
Telecommunication
(6 091)
(5 757)
Repair and maintenance
(11 256)
(4 510)
Utilities
(7 580)
(5 835)
Bank charges
(23 577)
(4 055)
Public relations expenses
(1 667)
(1 872)
Donations
(21 637)
(1 601)
Gifts
(799)
(422)
Shipping
(3 165)
(1 409)
Net profit of the year before tax
325 896
214 175
Ghabbour Auto | 2014 ANNUAL REPORT
81