VALZ HLDG : Financial Statement (846.53 KB)

VALLIANZ HOLDINGS LIMITED

Unaudited Financial Statements

For the First Half-Year Ended 30 September 2022

ANNOUNCEMENT IN RELATION TO UNAUDITED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022 ("1HFY2023")

• Condensed interim consolidated statement of profit or loss and other comprehensive income

		Group
	Note	1HFY2023	1HFY2022	Change
		US$'000	US$'000	%
Revenue	4.2	54,893	23,125	137.4
Cost of sales		(49,055)	(22,537)	117.7
Gross Profit		5,838	588	nm
Other income		1,448	2,275	(36.4)
Administrative expenses		(3,810)	(3,555)	7.2
Other operating expenses		(1,703)	(305)	nm
Finance costs		(3,396)	(4,676)	(27.4)
Share of results of associates		-	(3,992)	nm
Operating loss		(1,623)	(9,665)	(83.2)
Exceptional item
Loss on disposal of property,		(3,195)	-	nm
plant and equipment
Loss before tax	6	(4,818)	(9,665)	(50.2)
Income tax credit/(expense)	7	35	(44)	nm
Loss for the period		(4,783)	(9,709)	(50.7)
Other comprehensive income:
Item that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations		186	13	nm
Other comprehensive income for the period, net of tax		186	13	nm
Total comprehensive loss for the period		(4,597)	(9,696)	(52.6)
Loss for the period attributable to:
Owners of the Company		(3,848)	(8,925)	(56.9)
Non-controlling interests		(935)	(784)	19.3
Total		(4,783)	(9,709)	(50.7)
Total comprehensive loss attributable to:
Owners of the Company		(3,662)	(8,912)	(58.9)
Non-controlling interests		(935)	(784)	19.3
Total		(4,597)	(9,696)	(52.6)
Loss per share (US cents)
Basic		(0.32)	(1.60)
Diluted		(0.32)	(1.60)

Note: nm - Not Meaningful

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• Condensed interim statements of financial position

		Group	Company
	Note	30 Sep 2022	31 Mar 2022	30 Sep 2022	31 Mar 2022
		US$'000	US$'000	US$'000	US$'000
ASSETS
Current assets
Cash and cash equivalents		10,314	6,835	198	139
Trade receivables		25,294	9,509	-	-
Other receivables		29,527	35,429	471,476	470,738
Inventories		8,705	744	-	-
Contract assets		8,157	760	-	-
Financial assets at fair value through other
comprehensive income	10 (a)	31,729	31,729	-	-
Total current assets		113,726	85,006	471,674	470,877
Non-current assets
Monies pledged with banks		358	699	-	-
Property, plant and equipment	11	62,539	66,983	15	21
Right-of-use assets		252	368	-	-
Financial assets at fair value through other
comprehensive income	10 (b)	60,853	60,853	-	-
Subsidiaries		-	-	404	404
Other receivables		14,843	14,843	-	-
Total non-current assets		138,845	143,746	419	425
Total assets		252,571	228,752	472,093	471,302
LIABILITIES AND EQUITY
Current liabilities
Term loans	12	32,239	32,209	-	-
Trade payables		45,338	20,726	-	1
Other payables		58,774	53,393	339,453	335,782
Finance lease payables		4	-	-	-
Lease liabilities		244	241	-	-
Income tax payable		60	100	-	-
Total current liabilities		136,659	106,669	339,453	335,783
Non-current liabilities
Term loans	12	89,710	91,365	-	-
Retirement benefit obligation		582	582	-	-
Finance lease payables		15	-	-	-
Lease liabilities		20	160	-	-
Deferred tax liabilities		1,547	1,613	-	-
Convertible bonds		44,108	43,840	44,108	43,840
Total non-current liabilities		135,982	137,560	44,108	43,840
Capital and reserves
Share capital	13	382,274	382,274	382,274	382,274
Perpetual capital securities		22,500	22,500	22,500	22,500
Foreign currency translation reserve		162	(24)	-	-
Other reserve		(607)	(607)	28	28
Shareholder's advances		13,675	13,675	-	-
Convertible bonds		6,683	6,679	6,683	6,679
Accumulated losses		(423,315)	(419,467)	(322,953)	(319,802)
Equity attributable to owners of the
Company and capital securities holders	9	1,372	5,030	88,532	91,679
Non-controlling interests		(21,442)	(20,507)	-	-
Total equity		(20,070)	(15,477)	88,532	91,679
Total liabilities and equity		252,571	228,752	472,093	471,302

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• Condensed interim statements of changes in equity

Group								Equity
								attributable to
							Equity	owners of the
		Foreign					component	Company and
		currency				Perpetual	of	capital	Non-
	Share	translation	Other	Shareholder's	Accumulated	capital	Convertible	securities	controlling	Total
	capital	reserve	reserve	advances	losses	securities	bonds	holdes	interests	equity
	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000
At 1 April 2022	382,274	(24)	(607)	13,675	(419,467)	22,500	6,679	5,030	(20,507)	(15,477)
Total comprehensive loss
for the period
Loss for the period	-	-	-	-	(3,848)	-	-	(3,848)	(935)	(4,783)
Other comprehensive
income for the period	-	186	-	-	-	-	-	186	-	186
Total	-	186	-	-	(3,848)	-	-	(3,662)	(935)	(4,597)
Transactions with owners,
recognised directly in
equity
Conversion of loans to
convertible bonds	-	-	-	-	-	-	4	4	-	4
Total	-	-	-	-	-	-	4	4	-	4
At 30 September 2022	382,274	162	(607)	13,675	(423,315)	22,500	6,683	1,372	(21,442)	(20,070)

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• Condensed interim statements of changes in equity (cont'd)

								Equity
								attributable to
								owners of the
		Foreign						Company and
		currency				Perpetual		capital	Non-
	Share	translation	Other	Shareholder's	Accumulated	capital	Convertible	securities	controlling	Total
	capital	reserve	reserve	advances	losses	securities	bonds	holders	interests	equity
	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000
At 1 April 2021	347,746	(46)	(607)	115,582	(417,102)	22,500	-	68,073	(19,894)	48,179
Total comprehensive loss
for the period
Loss for the period	-	-	-	-	(8,925)	-	-	(8,925)	(784)	(9,709)
Other comprehensive loss
for the period
	-	13	-	-	-	-	-	13	-	13
Total	-	13	-	-	(8,925)	-	-	(8,912)	(784)	(9,696)
Transactions with owners,
recognised directly in
equity
Deemed investment by a
shareholder	-	-	-	16,934	-	-	-	16,934	-	16,934
Deconsolidation of a former
subsidiary corporation
	-	-	-	-	-	-	6,679	6,679	-	6,679
Total	-	-	-	16,934	-	-	6,679	23,613	-	23,613
At 30 September 2021	347,746	(33)	(607)	132,516	(426,027)	22,500	6,679	82,774	(20,678)	62,096

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