BERGER PAINTS NIGERIA : QUARTER 4 - FINANCIAL STATEMENT FOR 2022

Berger Paints Nigeria Plc Unaudited Financial Statements

31 December 2022

Berger Paints Nigeria Plc

4th Quarter Report

31 December,2022

Contents	Page
Corporate Information	3
Financial Highlights	4
Statement of Financial Position	5
Statement of Profit or Loss and Other Comprehensive Income	6
Statement of Changes in Equity	7
Statement of Cash Flows	8
Notes to the Financial Statements	9
Other National Disclosures	50

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Corporate Information Board of Directors:

Company Secretary/Legal

Adviser

Registered Office:

Contact Details

		Berger Paints Nigeria Plc
		4th Quarter Report
		31 December,2022
Abi Ayida	-	Chairman
Adekunle Olowokande	-	Non - Executive Director
Raj Mangtani (Indian)	-	Non - Executive Director
Ogechi Iheanacho	-	Non - Executive Director
Erejuwa Gbadebo	-	Independent Non - Executive
Aisha Umar	-	Independent Non - Executive
Alaba Fagun		Managing Director (Appointed
	-	wef October 4, 2022.)
Ayokunle Ayoko

102, Oba Akran Avenue,

Ikeja, Industrial Estate P.M.B. 21052, Ikeja, Lagos.

Tel: [phone]

Mobile: [phone]BERGERPAINTS [0700237437724687] Email: [e-mail] Website: www.bpnplc.com

Social Media Accounts	Website: www.bergerpaints.com.ng
	Facebook: www.facebook.com/BergerPaintsNigeriaPlc
	LinkedIn: www.linkedin.com/company/berger-paints-nigeria-plc
	Twitter: www.twitter.com/BergerPaintsNg
	Instagram: www.instagram.com/bergerpaintsnigeriaplc.
	You Tube: www.youtube.com/channel/UCD_T-Wid299NWbfHxA4rGXg
Investors Relation	Berger Paints Nigeria Plc. has a dedicated investors' portal on its
	corporate website which can be accessed via this link:
	https://bergerpaintsnig.com/investor/
	The Company's Investors' Relations Officer can also be reached through
	electronic mail at: [e-mail]; or telephone
	on: [phone] for any investment related enquiry.
NSE Trading Information	Trading Name:	Berger Paints Nig. Plc. (Berger)
	Ticker Symbol:	Berger
	Sector:	Industrial Goods
	Sub Sector:	Building Materials
	Market Classification:	Main Board
Registration Number:	RC: 1837
FRC Registration Number:	FRC/2012/0000000000295
Registrars:	Meristem Registrars Limited
	213, Herbert Macaulay Way, Adekunle, Yaba, Lagos.
	P.O. Box 51585, Falomo, Ikoyi, Lagos
	Tel: [phone]
	Email: [e-mail]
	Website: www.meristemregistrars.com
Independent Auditor:	KPMG Professional Services
	KPMG Tower
	Bishop Aboyade Cole Street,
	Victoria Island, Lagos
	Tel: [phone] (or 8599)
Bankers:	Access Bank Plc		Keystone Bank Limited
	Ecobank Nigeria Limited		Polaris Bank Limited
	Fidelity Bank Plc		Union Bank of Nigeria Plc
	First Bank of Nigeria Limited		United Bank for Africa Plc
	First City Monument Bank Limited	Wema Bank Plc
	Guaranty Trust Bank Plc		Zenith Bank Plc
	Heritage Bank Ltd

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Berger Paints Nigeria Plc

4th Quarter Report

31 December,2022

Financial Highlights

In thousands of naira

	12 Mths to		12 Mths to		%
Revenue	6,325,825	4,964,796	27
Gross profit	2,063,230	1,582,720	30
Operating profit	483,038	199,544	142
Profit before taxation	467,509	178,089	163
Profit for the period	315,570	135,635	133
Share capital	144,912	144,912	-
Total equity	3,430,344	3,230,704	6
Data per 50k share
Basic earnings per share (kobo)	109	47	133
Net assets per share (Naira)	11.84	11.15	6
Market price per share as at period end (Naira)	6.00	8.90	(33)
Market capitalization as at period end	1,738,944	2,579,434	(33)

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				Berger Paints Nigeria Plc
				4th Quarter Report
				31 December,2022
Statement of Financial Position
As at 31 December 2022
In thousands of naira
		2022	2021
Assets	Notes
Property, plant and equipment	14(a)	2,447,140	2,625,773
Intangible assets	15	18,161	36,152
Tax assets	11(c)(ii)	94,798	20,120
Investment property	16	361,874		382,234
Total non-current assets		2,921,973		3,064,279
Inventories	17	1,376,469	1,166,616
Trade and other receivables	18(a)	111,789	305,517
Deposit for imports	19	87,925	2,674
Prepayments and advances	20	49,982	36,346
Other financial assets	22	290,779	317,608
Cash and cash equivalents	21	525,191	217,629
Total current assets		2,442,135		2,046,390
Total assets		5,364,108		5,110,669
Equity
Share capital	23(a)	144,912	144,912
Share premium	23(b)	635,074	635,074
Retained earnings		2,650,358		2,450,717
Total equity		3,430,344	3,230,704
Liabilities
Loans and borrowings	26	0	7,875
Deferred income	25	61,458	109,298
Deferred taxation	11(d)	323,248	323,732
Total non-current liabilities		384,706		440,905
Loans and borrowings	26	25,131	137,498
Current tax liabilities	11(c)(i)	172,475	8,622
Trade and other payables	24	955,012	918,785
Deferred income	25	33,036	10,749
Dividend payable	28	363,407	363,407
Total current liabilities		1,549,061		1,439,061
Total liabilities		1,933,767	1,879,966
Total equity and liabilities		5,364,108		5,110,669

These financial statements were approved by the Board of Directors on 24 Jan 2023 and signed on its behalf by:

Abi Ayida (FRC/2019/IODN/00000019260)

Chairman

Alaba Fagun (FRC/2023/PRO/DIR/003/234540)

Managing Director

Onyebuchi Roberts (FRC/2013/ICAN/00000002109)

Chief Financial Officer

The Significant accounting policies and accompanying notes form an integral part of these financial statements.

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