Ceylon Hotels : ANNUAL REPORT 2021/2022

2021/22

ANNUAL

REPORT

CEYLON HOTELS CORPORATION PLC

Contents

Group Structure	2
Group Financial Highlights	3
Chairman's Review	4
Board of Directors	7
Management Discussion and Analysis	10
Risk Management	14
Annual Report of the Board of
Directors on the Affairs of the Company	16
Statement of Directors' Responsibility for the
Preparation of Financial Statements	23
Corporate Governance	24
Report of the Remuneration Committee	32
Report of the Audit Committee	33
Report of the Related Party
Transactions Review Committee	34

FINANCIAL REPORTS

Independent Auditors' Report	36
Statement of Profit or Loss and
Other Comprehensive Income	40
Other Comprehensive Income	41
Consolidated Statement of Financial Position	42
Statement of Changes in Equity	44
Consolidated Statement of Cash Flow	46
Notes to the Financial Statements	48
Investor Information	114
Five Year Summary	118
Notes	119
Notice of Annual General Meeting	122
Form of Proxy	123
Corporate Information	Inner Back Cover

Group Structure

As at 31st March 2022

Ceylon Hotels

Corporation PLC

69.54%		16.11%			67.51%	50% JV	100%	100%
Kandy Hotels					United Hotels	Ceylon Holiday	CHC Foods	Airline Services
Co. 1938 PLC					Co. Ltd	Holdings (Pvt) Ltd	(Pvt) Ltd	(Pvt) Ltd

100%	100%	100%	100%
Suisse Hotel	Ceylon Hotels	Tissa Resort	CHC Rest Houses
(Pvt) Ltd	Maldives (Pvt) Ltd	(Pvt) Ltd	(Pvt) Ltd

50% JV	50% JV
Suisse Hotel	Handhuvaru Ocean
Kandy (Pvt) Ltd	Holidays (Pvt) Ltd
	(Refer Note 23)

2 Ceylon Hotels Corporation PLC

Group Financial Highlights

Performance for the year ended 31st March	2022	2021
	Rs.	Rs.
Revenue	561,935,589	423,572,249
Earnings before interest, tax , depreciation & amortisation (EBITDA)	43,363,589	(40,434,575)
Profit/(Loss) before tax (PBT)	(34,977,771)	(432,063,031)
Profit/(Loss) after tax (PAT)	(45,856,137)	(385,225,920)
Profit/(Loss) attributable to equity holders of the company	(39,684,680)	(312,064,378)
Earnings/(Losses) per Share	(0.22)	(1.73)
Dividend per Share (Company)	-	-
Dividend Pay-out Ratio (Times)	-	-
Financial Position as at 31st March
Total Assets	14,008,060,498	12,192,134,866
Total Debt	2,226,385,117	1,864,418,646
Net Debt	(682,456,882)	(833,343,026)
Net Assets	10,417,748,370	9,159,560,902
Net Assets attributable to equity holders	7,922,369,312	7,027,855,608
Net Current Assets	1,864,307,635	832,746,907
No. of Ordinary Shares in Issue	180,030,942	180,030,942
Net Assets per Ordinary Share	44.01	39.04
Net Debt/Equity	6.5%	9.1%
Net Debt/Total Assets	4.9%	6.8%
Current Ratio (Times)	2.5	2.1
Market/Shareholder information as at 31st March
Closing Market price per share	9.10	10.6
Market Capitalisation	1,638,281,572	1,908,327,985

Annual Report 2021/22

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