VALZ HLDG : Unaudited Financial Statements For the Financial Year Ended 31 March 2022

VALLIANZ HOLDINGS LIMITED

Unaudited Financial Statements

For the Financial Year Ended 31 March 2022

ANNOUNCEMENT IN RELATION TO UNAUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2022 ("FY2022")

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

		Group
	Note	FY2022	FY2021	Change
		US$'000	US$'000	%
Revenue	4.2	64,150	88,599	(28)
Cost of sales		(68,646)	(86,293)	(20)
Gross Profit		(4,496)	2,306	(295)
Other income	7.1	8,951	2,958	203
Administrative expenses		(7,365)	(10,446)	(29)
Other operating expenses		(2,609)	(2,106)	24
Exceptional items		-	(8,517)	(100)
Finance costs	7.1	(5,562)	(17,464)	(68)
Share of results of associate and joint ventures	7.1	8,052	8,216	(100)
Loss before tax		(3,029)	(25,053)	(88)
Income tax credit	8	70	91	(23)
Loss for the year		(2,959)	(24,962)	(88)
Other comprehensive income/(loss):
Item that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations		22	107	(79)
Actuarial loss on post-employment benefit obligation		-	(442)	(100)
Other comprehensive income/(loss) for the year, net of tax		22	(335)	NM
Total comprehensive loss for the year		(2,937)	(25,297)	(88)
Loss for the year attributable to:
Owners of the Company		(1,846)	(23,011)	(92)
Non-controlling interests		(1,113)	(1,951)	(43)
Total		(2,959)	(24,962)	(88)
Total comprehensive loss attributable to:
Owners of the Company		(1,824)	(23,346)	(92)
Non-controlling interests		(1,113)	(1,951)	(43)
Total		(2,937)	(25,297)	(88)
Loss per share (US cents)
Basic		(0.15)	(4.11)
Diluted
	(0.15)	(4.11)

Note: nm - Not Meaningful

2

B Condensed interim statements of financial position
	Group		Company
Note	31-Mar-22	31-Mar-21		31-Mar-22	31-Mar-21
	US$'000	US$'000		US$'000	US$'000

ASSETS

Current assets

Cash and cash equivalents Trade receivables

Other receivables Inventories Contract assets

Financial assets at fair value through other comprehensive income

Total current assets

Non-current assets Monies pledged with banks Property, plant and equipment Right-of-useassets

Financial assets at fair value through other comprehensive income

Subsidiaries Other receivables Associates

Total non-current assets

Total assets

LIABILITIES AND EQUITY

Current liabilities

Term loans

Trade payables

Other payables

Finance lease payables

Lease liabilities

Income tax payable

Total current liabilities

Non-current liabilities

Term loans

Retirement benefit obligation

Finance lease payables

Lease liabilities

Deferred tax liabilities

Convertible bonds

Total non-current liabilities

Capital and reserves

Share capital

Perpetual capital securities

Foreign currency translation reserve Other reserve

Shareholder's advances Convertible bonds Accumulated losses

Equity attributable to owners of the Company and capital securities holders

Non-controlling interests Total equity

Total liabilities and equity

	6,835	6,713	139	1,777
	9,509	7,428	-	2
	35,429	10,094	470,738	339,973
	744	725	-	-
	760	-	-	-
11 (a)	31,729	31,729		-	-
	85,006	56,689		470,876	341,752
	699	699	-	-
12	66,983	68,233	21	39
	368	600	-	-
11 (b)	60,853	-	-	-
	-	-	404	404
	14,843	-	-	-
	-	175,598		-	-
	143,746	245,130		425	443
	228,752	301,819	471,302	342,195

13	32,209	32,680	-	-
	20,726	36,565	1	-
	53,393	38,900	332,100	182,301
	4	-	-	-
	237	225	-	-
	100	27		-	-
	106,669	108,397		332,100	182,301
13	91,365	142,545	-	-
	582	536	-	-
	18	-	-	-
	142	382	-	-
	1,613	1,780	-	-
13	43,321	-		43,321	-
	137,041	145,243		43,321	-
14	382,274	347,746	382,274	347,746
	22,500	22,500	22,500	22,500
	(23)	(46)	-	-
	(608)	(607)	28	28
	13,675	115,582	-	108,251
	6,679	-	6,679	-
	(418,948)	(417,102)		(315,600)	(318,631)
10	5,549	68,073	95,880	159,894
	(20,507)	(19,894)		-	-
	(14,958)	48,179		95,880	159,894
	228,752	301,819	471,302	342,195

3

1. Condensed interim statements of changes in equity

Group								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	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 2021	347,746	(46)	(607)	115,582	(417,102)	22,500	-	68,073	(19,894)	48,179
Total comprehensive loss
for the year
Loss for the year	-	-	-	-	(1,846)	-	-	(1,846)	(1,113)	(2,959)
Other comprehensive
income for the year
	-	22	-	-	-	-	-	22	-	22
Total	-	22	-	-	(1,846)	-	-	(1,824)	(1,113)	(2,937)

Transactions with owners, recognised directly in equity

Deemed repayment by a shareholder

Conversion of shareholders' advances to ordinary shares

Allotment of shares to minority shareholder Conversion of loans to convertible bonds

Total

-	-	-	(101,907)	-	-	-	(101,907)	-	(101,907)
34,528	-	-	-	-	-	-	34,528	-	34,528
-	-	-	-	-	-	-	-	500	500
-	-	-	-	-	-	6,679	6,679	-	6,679
34,528	-	-	(101,907)	-	-	6,679	(60,700)	500	(60,200)

At 31 March 2022

382,274

(24)

(607)

13,675

(418,948)

22,500

6,679

5,549

(20,507)

(14,958)

4

1. 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	securities	controlling	Total
		capital	reserve	reserve	advances	losses	securities	holdes	interests	equity
		US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000	US$'000
At 1 April 2020	347,746	(153)	(165)	87,341	(394,091)	22,500	63,178	25,925	89,103
Total comprehensive loss
for the year
Loss for the year		-	-	-	-	(23,011)	-	(23,011)	(1,951)	(24,962)
Other comprehensive
loss for the year
		-	107	(442)	-	-	-	(335)	-	(335)
Total	-	107	(442)	-	(23,011)	-	(23,346)	(1,951)	(25,297)
Transactions with owners,
recognised directly in
equity
Deemed investment
by a shareholder		-	-	-	28,241	-	-	28,241	-	28,241
Deconsolidation of a
former subsidiary
corporation		-	-	-	-	-	-	-	(43,868)	(43,868)
Total	-	-	-	28,241	-	-	28,241	(43,868)	(15,627)
At 31 March 2021		347,746	(46)	(607)	115,582	(417,102)	22,500	68,073	(19,894)	48,179

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