NCR (NIGERIA) : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

NCR Nigeria Plc

FOURTH QUARTER UNAUDITED CONDENSED FINANCIAL STATEMENTS 31 DCEMBER 2021

NCR (NIGERIA) PLC

PERIOD ENDED 31 DECEMBER 2021

UNAUDITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

						Oct-Dec	Oct-Dec
		31/12/2021	31/12/2020		2021	2020
	Note	N'000		N'000		N'000	N'000
Revenue from contracts with customers	3	2,540,792	5,125,508		582,820	1,290,446
Cost of Sales	3B	(2,283,787)		(4,833,330)		(709,856)	(1,032,848)
Gross profit		257,005	292,178		(127,036)	257,598
Distribution Expenses	14	(40,908)	(56,131)		85,890	(84,637)
Administrative Expense	15	(60,651)	(115,894)		24,325	(17,073)
Other Operating Income	4	838,057	33,228		830,999	6,309
Other Gain/ (Loss)	13	(442,441)	181,291		(442,441)	-
Fair Value Loss on Long Term Intercompany	13	(186,682)	(357,198)		(45,684)	(2,699)
Foreign Exchange Gain/(Loss)		(43,859)	(176,259)		(30,834)	(76,823)
Fair Value Loss on Financial Derivative			-		-	-
Finance Cost		-	-		-	-
Profit/ (Loss) before Tax
	320,522		(198,785)		295,220	82,676
Income Tax Expense		-		(92,345)		-	-
Profit/ (Loss) after Tax		320,522	(291,130)		295,220	82,676
Other Comprehensive Income
Items that will not be reclassified subsequently to profit or loss:
Actuarial loss on retirement benefit; net of tax		-		(15,663)		-	-
Other Comprehensive Loss for the Year, net of Tax		-	(15,663)
Total Comprehensive Income for the Year, net of Tax		320,522	(306,793)		295,220	82,676
Earnings per share data:
Basic/ diluted earnings/ (loss) per share (Naira)		2.97		(2.70)		2.73	0.77

NCR (NIGERIA) PLC

PERIOD ENDED 31 DECEMBER 2021

UNAUDITED STATEMENT OF FINANCIAL POSITION

			31/12/2021	31/12/2020
ASSETS	Note	USD	N'000	N'000
Non-current assets			40,849
Property, plant and equipment	14		522,492
Retirement benefit assets			14,431	14,431
Deferred Tax Assets			-	-
Total non-current assets
		55,280	536,923
Current assets
Inventories	5		423,082	686,859
Trade and other receivables	6		959,784	1,665,739
Prepayments	7		11,498	41,549
Financial Derivatives				-
Cash and Cash equivalents	8		2,700,818	2,577,699
Other current assets	9		967,003	885,253
Current Tax Receivable
Total current assets
		5,062,186	5,857,099
Total assets			5,117,466	6,394,022
Equity and Liabilities
Share capital			54,000	54,000
Retained earnings			(489,407)	(809,929)
Other reserves			(88,228)	(88,228)
Total equity			(523,635)	(844,157)
Non-current liabilities
Trade and other payables			2,583,097	3,203,771
Deferred Tax Liability				-
Total non-current liabities
		2,583,097	3,203,771
Current liabilities			2,797,247	3,321,481
Trade and other payables	10
Contract Liability	12		260,757	509,219
Provisions				114,411
Current Tax Liability	11		-	89,297
Total current liabilities
		3,058,004	4,034,408
Total liabilities
		5,641,102	7,238,179
Total Equities and Liabilities			5,117,466	6,394,022

Approved by the Directors on 27th January 2022 and signed on its behalf by:

Otunba Adekunle Ojora OFR, CON, FNIM, JP	Ms Yisa Nnawo Christiana	Mr Chuwueke Onyekachi Caleb
Chairman	Chief Executive Officer	Finance Controller
FRC/2013/IODN/00000002581	FRC/2020/003/00000020685	FRC/2015/ICAN/000000/13361

NCR (NIGERIA) PLC

UNAUDITED CONDENSED STATEMENT OF CHANGES IN EQUITY

AS AT 31 December 2021

Equity attributable to equity holders of the Company

		Share Capital	Retained	Other	Total Equity
			Earnings	Reserves
		N'000	N'000	N'000	N'000
Balance at 1 January 2021	54,000	(809,929)	(88,228)	(844,157)
Total comprehensive income for the period	-	320,522		320,522
Issue	of
Dividends
Transfer	for
Balance at 31 December 2021	-	-		-
54,000	(489,407)	(88,228)	(523,635)
		Share Capital	Retained	Other	Total Equity
			Earnings	Reserves
		N'000	N'000	N'000	N'000
Balance at 1 January 2020	54,000	(518,799)	(72,564)	(537,363)
					-
Loss for the year		(291,130)		(291,130)
Other comprehensive loss for the year, net of tax	-		(15,663)	(15,663)
Total comprehensive loss for the year, net of tax		(291,130)	(15,663)	(306,793)
		-	-		-
Balance at 31 December 2020	54,000	(809,929)	(88,227)	(844,156)

NCR (NIGERIA) PLC

UNAUDITED STATEMENT OF CASH FLOW

AS AT 31 December 2021

Note	31/12/2021	31/12/2020
OPERATING ACTVITIES
Cash receipt from customer	3,534,679	4,221,164
Payment to supplier & employees	(2,636,829)	(5,503,507)
VAT paid	(117,157)	-
Income tax paid	(6,301)	(38,312)
WHT Credit notes utilized	(86,044)
Net cash flows from operating activities	688,348	(1,320,655)
INVESTIING ACTVITIES
Purchase of PPE	(14,785)	(22,448)
Rental income received	-	32,026
Interest received	4,059	1,202
Proceed from disposal of PPE
Net cash flows from operating activities	(10,726)	10,780
FINANCING ACTVITIES
Dividend paid	-	-
	-	-

Increase/ (decrease) in cash and cash equivalent	677,622	(1,309,875)
Net Foreign exchange difference		18,517
At beginning	2,023,196	3,314,554
At end	2,700,818	2,023,196