Aamal Company Q.S.C. CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER - PDF document

Aamal Company Q.S.C. CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013

Aamal Company Q.S.C. CONSOLIDA TED ~INANCIAL STATEMENTS 31 Dece m be r 20 1 3 Co nt ents Page(s) Lndependent auditors' report 1 -2 Consolida t ed financi al :s t ate ments Co nso li dated statemellt f fiJ)anciai position 3 Consolidated statement f income 4 Con so li dated statement f comprehensive income 5 ConSOlidated stateme nt f casb no ws 6 Co o so lidsted stateme nt f changes in equity 7 No tes to til e consolidat ed flJl aocial stateme nt s 8­46 I

~Idilors' ~alM> "~r.oj "'t ~"'~"'_W!I>~ >',pt,\G .,.,a~_"'1><! a~_.,.~"'" KPMG T ej ephc>r1e ... 97 4 44 57 64 44 Audit Fax +974 4442 ,5626 WEbsi te www.kpmg.com.qa 2nd Floor An2 a 25, C Ring Road PO Box 44 73, Doha State ot Oatar Independent auditors' report To The Shareholders Aamal Company Q.S.c. Doha State of Qatar Report on the consolidated financial statements We have audited the accompanying consolidated financial statements of Aamal Company Q.S.c. (the "Company") and its subsidianes (together referred to as the "Group"), which comprise the consolidated statement of financial position as at 31 December 2013 and tbe consolidated statements of income, comprehensive income, cash flows and changes in equity for the year then ended, and notes, comprising a sUnUnUl)' of significant accounting policies and other explanatory information. Directors' re.fponsibifify for Ihe consolidated financial statements The directors are responsible for the preparal10n and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards, and for such internal control as the directors detemlinc is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error, A respol1sibilily Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perfonn the audit to obtain reasonable assurance about whether the consolidated financial statements arc free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on our judgement, including the assessment of the risks of material misstatement of the consolidated finanCial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Group·s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the pUlllose of expressing an opinion on the effectiveness of the Group's internal control. An audit also includes evaluating the appropriateness of accountmg policies used and the reasonableness of accounting estimates made by the management, as we ll as evaluating the overall presentation of the consolidated financial statements. We beli eve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Oplllion In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at 31 December 2013 and its consolidated financial performance and consolidated cash flows for the year then ended in accordance with International Financial Reponing Standards. KPM(; ... iK/'M<:i """"""0"''"1. • Sw,s. """ " ,

Report 00 other legal A nd reg ul a ior y re quir ements We have ob ta in ed a ll the inf o rm ation and ex:p lana ti ons which we co nsider necessary for the pUipose of our a ud it. The Group has maintained proper accounting records aod the co nsolidated financial statements are in agreement therewith a nd we COllfi.rOl that th e physical co unt of invento ri es was carried OUi as per the established principles. We have reviewed the acco mp an yi ng repon of the Board of Di rectors and confi nn that the financial inf onnation co ntained therein is in agreement with the books a nd r eco rds of the Compa n y. We are not aware of any violations of the provisions of Qa tar Co mmercial Co mpani es' law No. S of 2002 or the tenns of Article of Association having ott tured du ring the year which might have had a material adverse effect on the business of the Company or its consolidated finiUl cial position as at 31 December 20 13. 20 February 20 14 Gopa l Balasubramaniam KPMG Doha State of Qatar Qatar Auditors Regislry Number 251 Independe nt auditor s' rep0l1 (continued) ­ Aamal Company Q.s.c.

Aamal Company Q.S.C. CONSOLIDATED STATEMENT OF FINANCIAL POSlTlON AI J I December 2013 2012 20/3 QR Note QR ASSETS C urrent assets 5 436,136,756 367, 88 1,29 1 Cash and ban k balanc es 6 510,089,839 482, 281 ,77 5 Accounts receiv ab le an d pr epa y men ts Amounts due from related parties 214,439,950 171 , 525 , 363 7 316,699,545 401 .902,873 Invento ri es 8 I ,4 77,366,090 1, 423 , 59 1,302 NOD­current lI$sft~ A vuilable­for­sale investments 24 ,983 1 8,963 Equity­accounted illve st e:e s 12 6,669, 99 1 9 1 33,106,907 I. In vestment properties 6,402,486,000 6, 11 3, 347 ,018 Properl y. plaIU arid equ ipment " 519,970,890 449, 52 7 ,2 58 7,055 1 588,780 6,689,563 , 230 TOTAL ASSETS 8,532,954,870 8,113,154 , 532 LiADILITIES AND EQUITY Curnn! Jj~biljtit5 Bank overdrafts 5 6,836, 280 2, 885 , 090 ACCO Un tS payable and a cc ruals 12 445,046,573 379, 119 ,06 9 IJ 48,199,591 49,737,757 A moun ts due 1 0 r ela ted pani es 749,520,820 825 ,568 ,489 Interest bearing loans aM borrowings 14 1,25 7,310,405 J ,249,603 1 264 Non­Curr(DI liabilities Interest bearing loans and borrowin gs 16 5,384,481 239, 276 ,807 14 Employ ee s' end of service benefits 19 ,957,976 18 , 111 , 76 3 15 185 , 342 , 457 257 ,388,570 1,514,698.975 TOlRllitbililits 1,434,945 ,72 1 EQUiTY Share capital 6,000,000,000 5,445,000,000 16 Legal reserve 17 378,132, 552 327,445,101 (2,075,865) (2, 07 5, 865) Tr easury shar es Cumu l:ui ve ch8ll ge in fair v: lIue 4,069 (416) Retained earn in gs 526,628,214 638,248,275 6,408,617,095 Equity attributab le to equ ity holders of the pa rcnt 6,902,688,970 195 ,3 20 ,1 7 9 189,838,462 Non­cOnlIOII ing interests 7,098,009, 14 9 6,598 1 455 1 557 TOTAL I,.!ABII,.ITIES AND EQU ITY 8,532,954,870 8, 11 3, 154 ,532 Mohammad Rrunah i Chitf Fi nancial Officer The artaehcd not es I \0 33 fonn an in te gral pan of these consolid;lIed financial statements, 3

l)3~it.and _,-_2d~ ~-~ ,_,~ ~Jl4'!lL ~,~- ;.J(jI1~r.tro!ing _~3JA01:.!04 J~S9,65:i.016J ~2S1:?4~ zi~:!L -~-,-.,. CO">SOLIDATED STATE,,!ENT OF INCOME For tM year ended 31 Dec,;­mixr 2013 ;Jon 2012 QR QR No!t! lR 2,(69)36,372 Reve'lue 2,1,22,595,133 Diroctcnstb 19 _ (1,702,139,1::11) 41YJ,6S::U56 GROSS PROFIT 419,455,956 20 Other income I {,516,688 16,199,921 Markelillg and promotion expenses (J I ,L66.J 47) (18,995,918) Geternl MO adm.inistrativ¢ cxpenS\:'s 21 (,25,'62,8J2) (109,981,101) Dv;m;:;:iation (9,331,061) (9,4. 7 3,007) Fine nee CDS!:; 22 (58,063,809­] (44,930,877) profits of equity<l(;COUnleci ~nvestes 9 Shure of .. __ ~)49,901 PROFIT REVORE FAIR VALUE GAINS ON 267.233;582 2J5,72 1,006 t:;Vf"ST:\n::l\T PROPERTJES Net fuil vl1lue g<llns or lnvest:ne­Ilt prcpc(li~ 10 245,051,107 3R3,m,,183 PROFIT FOR THE YEAJt Pmilt?ltributnble to: Equit:' holcefS of tift parent 506,8 74,5(17 594,892,946 In.reres:.:; §,4,JQ!!82 diluted eanli.ngs per share (QR) (L85 (RITnoutable 10 cqujry holders of the parerl} 23 0.49 The zltached notes j to 33 f01111 an integral part of these t.'O!l50hdared financial S!;1t<;lTWpl$,

Aamal Company Q.S.c. CONSOLIDAT ED STATEMENT OF COMPREHENSIVE INCOME F or Ib e year eoded 3 1 De cember 20 1 3 101 1 2013 QR QR Profit for the year 512,284,689 624,5 13,489 Other comprehensive income Item s that are or may be reclassified to profit or loss Unreatised gain on available­ fo r­sale investments 6,020 109 ,582 512,290,709 624,623,071 TOTAL CO IV IPR£HE NS IVE I NC OME fOR TH E YEAR TotaJ co mpr ehensive income attrib utable to: Eq ui ty holders of the parent 506,8 78, 992 594,892,530 5,411,7 17 29, 73 0 ,541 No n­contro Uing interests 512,290,709 624,623,07 1 The (luached notes I 10 33 form an integral part of these consolidated fin ancial statements. ,