Income Statement Cocoa Processing Company Limited

Stocks

CPC

GH0000000540

Food Processing

End-of-day quote Ghana S.E. Other stock markets 28/07/2026			5-day change	1st Jan Change
0.1700 ^GHS	+6.25%		+13.33%	+240.00%

27/07	Cocoa Processing Company Limited Reports Earnings Results for the Half Year Ended March 31, 2026	CI
02/25/02	Cocoa Processing Company Limited Reports Earnings Results for the Nine Months Ended June 30, 2025	CI

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Published financial data: COCOA PROCESSING COMPANY LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2018	2019	2020	2021	2022
Revenues	2.83Cr	2.84Cr	1.36Cr	4.18Cr	4.35Cr
Total Revenues	2.83Cr	2.84Cr	1.36Cr	4.18Cr	4.35Cr
Cost of Goods Sold, Total	2.75Cr	2.37Cr	1.67Cr	4.68Cr	4.74Cr
Gross Profit	8L	47.72L	-30.32L	-49.93L	-38.74L
Selling General & Admin Expenses, Total	49.04L	50.77L	56.69L	54.84L	53.74L
Provision for Bad Debts	2L	4L	4L	4L	-5L
Other Operating Expenses	-90.37T	-5L	-8L	-4L	-4L
Other Operating Expenses, Total	49.78L	49.52L	52.92L	55.21L	44.18L
Operating Income	-41.9L	-2L	-83.25L	-1.05Cr	-82.92L
Interest Expense, Total	-38.13L	-45.73L	-46.5L	-48.29L	-50.64L
Interest And Investment Income	52.5T	6.06T	60.7T	56.41T	50.07T
Net Interest Expenses	-37.61L	-45.67L	-45.89L	-47.73L	-50.14L
Currency Exchange Gains (Loss)	7L	4L	3L	1L	10.8L
Other Non Operating Income (Expenses)	-	-	-	-	-7L
EBT, Excl. Unusual Items	-72.15L	-43.08L	-1.26Cr	-1.52Cr	-1.29Cr
Other Unusual Items	-	-	-70.19L	-	-
EBT, Incl. Unusual Items	-72.15L	-43.08L	-1.96Cr	-1.52Cr	-1.29Cr
Income Tax Expense	47.97L	-9L	-10L	-81.21T	-9L
Earnings From Continuing Operations	-1.2Cr	-33.62L	-1.86Cr	-1.51Cr	-1.21Cr
Net Income to Company	-1.2Cr	-33.62L	-1.86Cr	-1.51Cr	-1.21Cr
Net Income - (IS)	-1.2Cr	-33.62L	-1.86Cr	-1.51Cr	-1.21Cr
Net Income to Common Incl Extra Items	-1.2Cr	-33.62L	-1.86Cr	-1.51Cr	-1.21Cr
Net Income to Common Excl. Extra Items	-1.2Cr	-33.62L	-1.86Cr	-1.51Cr	-1.21Cr
Per Share Items
Net EPS - Basic	-0.01	-0	-0.01	-0.01	-0.01
Basic EPS - Continuing Operations	-0.01	-0	-0.01	-0.01	-0.01
Basic Weighted Average Shares Outstanding	203.81Cr	203.81Cr	203.81Cr	203.81Cr	203.81Cr
Net EPS - Diluted	-0.01	-0	-0.01	-0.01	-0.01
Diluted EPS - Continuing Operations	-0.01	-0	-0.01	-0.01	-0.01
Diluted Weighted Average Shares Outstanding	203.81Cr	203.81Cr	203.81Cr	203.81Cr	203.81Cr
Normalized Basic EPS	-0	-0	-0	-0	-0
Normalized Diluted EPS	-0	-0	-0	-0	-0
Supplemental Items
EBITDA	-4L	34.69L	-20.72L	-45.37L	-22.7L
EBITA	-41.9L	-2L	-83.25L	-1.05Cr	-82.92L
EBIT	-41.9L	-2L	-83.25L	-1.05Cr	-82.92L
EBITDAR	-4L	-	-	-	-
Effective Tax Rate - (Ratio)	-66.48	21.96	4.87	0.54	6.85
Deferred Domestic Taxes	47.97L	-9L	-	-	-9L
Total Deferred Taxes	47.97L	-9L	-10L	-81.21T	-9L
Normalized Net Income	-45.09L	-26.93L	-78.61L	-94.81L	-80.91L
Interest on Long-Term Debt	-	-	-	-	42.26L
Non-Cash Pension Expense	2L	4L	5L	5L	1L
Supplemental Operating Expense Items
Advertising Expense	46.46T	32.51T	33.5T	2L	2L
Marketing Expenses	9.85T	-	-	-	-
Selling and Marketing Expenses	4L	3L	6L	7L	8L
General and Administrative Expenses	44.62L	48.11L	50.44L	42.19L	45.7L
Net Rental Expense, Total	271	-	-	-	-
Imputed Operating Lease Interest Expense	136	-	-	-	-
Imputed Operating Lease Depreciation	135	-	-	-	-

Fiscal Period: September	2018	2019	2020	2021	2022
Assets
Cash And Equivalents	3L	10.73L	6L	11.51L	8L
Short Term Investments	-	-	24.77L	26.44L	-
Total Cash And Short Term Investments	3L	10.73L	31L	37.95L	8L
Accounts Receivable, Total	68.17L	23.7L	6L	82.67L	44.44L
Other Receivables	17.25L	52.62L	6L	7L	5L
Total Receivables	85.42L	76.32L	11.84L	89.28L	49.53L
Inventory	56.43L	82.29L	2.08Cr	2.68Cr	1.77Cr
Prepaid Expenses	1L	1L	51.94L	4L	5L
Other Current Assets, Total	14.3L	20.81L	-	-	27.08L
Total Current Assets	1.6Cr	1.91Cr	3.03Cr	3.99Cr	2.67Cr
Gross Property Plant And Equipment	13Cr	13Cr	13Cr	13Cr	13Cr
Accumulated Depreciation	-2.13Cr	-	-62.53L	-1.22Cr	-1.83Cr
Net Property Plant And Equipment	11Cr	13Cr	12Cr	12Cr	11Cr
Total Assets	12Cr	15Cr	15Cr	16Cr	14Cr
Liabilities
Accounts Payable, Total	63.37L	37.4L	7.07Cr	8.5Cr	1.6Cr
Short-term Borrowings	15.16L	10L	12.39L	11.93L	19.33L
Current Portion of Long-Term Debt	2.65Cr	4.73Cr	4.34Cr	3.94Cr	4.68Cr
Current Income Taxes Payable	-	-	2.23Cr	1.64Cr	1.91Cr
Other Current Liabilities	1.78Cr	2.23Cr	15.24L	1.12Cr	1.21Cr
Total Current Liabilities	5.21Cr	7.44Cr	14Cr	15Cr	9.6Cr
Long-Term Debt	3.09Cr	1.45Cr	2.54Cr	3.36Cr	19.85L
Pension & Other Post Retirement Benefits	13.76L	32L	36.59L	40.98L	28.72L
Deferred Tax Liability Non Current	1.84Cr	2.07Cr	2.24Cr	1.89Cr	1.79Cr
Other Non Current Liabilities	5.55Cr	5.55Cr	-	-	-
Total Liabilities	16Cr	17Cr	19Cr	21Cr	12Cr
Preferred Stock Redeemable	71	71	71	71	71
Total Preferred Equity	71	71	71	71	71
Common Stock, Total	2.61Cr	2.61Cr	2.61Cr	2.61Cr	2.61Cr
Retained Earnings	-11Cr	-11Cr	-13Cr	-14Cr	-15Cr
Comprehensive Income and Other	4.95Cr	6.28Cr	6.41Cr	6.61Cr	15Cr
Total Common Equity	-3.39Cr	-2.24Cr	-3.82Cr	-4.96Cr	2.22Cr
Total Equity	-3.39Cr	-2.24Cr	-3.82Cr	-4.96Cr	2.22Cr
Total Liabilities And Equity	12Cr	15Cr	15Cr	16Cr	14Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	203.81Cr	203.81Cr	203.81Cr	203.81Cr	203.81Cr
ECS Total Common Shares Outstanding	-	203.81Cr	-	203.81Cr	203.81Cr
Book Value / Share	-0.02	-0.01	-0.02	-0.02	0.01
Tangible Book Value	-3.39Cr	-2.24Cr	-3.82Cr	-4.96Cr	2.22Cr
Tangible Book Value Per Share	-0.02	-0.01	-0.02	-0.02	0.01
Total Debt	5.89Cr	6.28Cr	7Cr	7.41Cr	5.07Cr
Net Debt	5.86Cr	6.17Cr	6.69Cr	7.03Cr	4.99Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	13.76L	32L	36.59L	40.98L	28.72L
Debt Equivalent Oper. Leases	2.17T	-	-	-	-
Account Code - Inventory Valuation	-	5	-	5	5
Inventories - Raw Materials, Total	27.27L	36.16L	31.55L	99.27L	36.34L
Inventories - Work In Process, Total	-	-	-	18.15L	80.36T
Inventories - Finished Goods, Total	14.95L	30.63L	1.61Cr	1.35Cr	1.22Cr
Inventories - Others	14.21L	15.5L	16.77L	16.49L	17.98L
Land - (BS)	4.73Cr	3.72Cr	3.72Cr	3.72Cr	3.72Cr
Buildings, Total	6L	4L	4L	4L	4L
Machinery, Total	8.18Cr	8.68Cr	8.99Cr	9.08Cr	9.09Cr
Full Time Employees	-	259	-	277	275
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	12.42L	16.34L	11L

Fiscal Period: September	2018	2019	2020	2021	2022
Net Income	-1.2Cr	-33.62L	-1.86Cr	-1.51Cr	-1.21Cr
Depreciation & Amortization - CF	37.88L	36.49L	62.53L	59.77L	60.22L
Depreciation & Amortization, Total	37.88L	36.49L	62.53L	59.77L	60.22L
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Provision and Write-off of Bad Debts	2L	4L	4L	4L	-5L
Other Operating Activities, Total	52.86L	7L	93.95L	51.1L	24.71L
Change In Accounts Receivable	-55L	-2L	24.3L	-84.21L	38.85L
Change In Inventories	-2L	-25.86L	-1.27Cr	-58.97L	91.14L
Change In Accounts Payable	60.29L	21.29L	1.29Cr	1.8Cr	-92.21L
Change in Other Net Operating Assets	2L	4L	-14.51L	47.58L	-93.34T
Cash from Operations	-22.59L	11.7L	-14.02L	48.27L	-4L
Capital Expenditure	-2L	-26L	-16.52L	-38.62L	-2L
Sale of Property, Plant, and Equipment	-	-	-	-	-
Other Investing Activities, Total	52.5T	6.06T	60.7T	-	-
Cash from Investing	-1L	-25.94L	-15.92L	-38.62L	-2L
Long-Term Debt Issued, Total	-	18.15L	23.43L	2L	4L
Total Debt Issued	-	18.15L	23.43L	2L	4L
Long-Term Debt Repaid, Total	-	-	-	-4L	-6L
Total Debt Repaid	-	-	-	-4L	-6L
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-	18.15L	23.43L	-2L	-3L
Foreign Exchange Rate Adjustments	12.91L	10L	7L	-38.23T	-1L
Net Change in Cash	-10.69L	13.5L	11.58T	7L	-10.17L
Supplemental Items
Cash Interest Paid	19.74L	18.62L	14.07L	4L	6L
Cash Income Tax Paid (Refund)	3.26T	3.02T	-	11.08T	1.94T
Levered Free Cash Flow	-5.64Cr	-22.37L	5.58Cr	15.86L	-5.75Cr
Unlevered Free Cash Flow	-5.4Cr	6L	5.87Cr	46.04L	-5.43Cr
Change In Net Working Capital	5.5Cr	3L	-5.93Cr	-90.6L	5.49Cr
Net Debt Issued / Repaid	-	18.15L	23.43L	-2L	-3L

Fiscal Period: September	2018	2019	2020	2021	2022
Profitability
Return on Assets	-2.12	-0.08	-3.49	-4.21	-3.44
Return on Total Capital	-8.79	-0.34	-14.4	-23.31	-10.64
Return On Equity %	38.54	11.94	61.57	34.39	88.05
Return on Common Equity	38.54	11.94	61.57	34.39	88.05
Margin Analysis
Gross Profit Margin %	2.79	16.78	-22.22	-11.94	-8.91
SG&A Margin	17.35	17.86	41.54	13.11	12.36
EBITDA Margin %	-1.42	12.2	-15.18	-10.84	-5.22
EBITA Margin %	-14.82	-0.63	-61	-25.13	-19.07
EBIT Margin %	-14.82	-0.63	-61	-25.13	-19.07
Income From Continuing Operations Margin %	-42.5	-11.82	-136.62	-36.07	-27.73
Net Income Margin %	-42.5	-11.82	-136.62	-36.07	-27.73
Net Avail. For Common Margin %	-42.5	-11.82	-136.62	-36.07	-27.73
Normalized Net Income Margin	-15.95	-9.47	-57.61	-22.66	-18.6
Levered Free Cash Flow Margin	-199.58	-7.87	408.79	3.79	-132.18
Unlevered Free Cash Flow Margin	-191.15	2.19	430.09	11.01	-124.91
Asset Turnover
Asset Turnover	0.23	0.21	0.09	0.27	0.29
Fixed Assets Turnover	0.26	0.24	0.11	0.35	0.37
Receivables Turnover (Average Receivables)	6.52	6.19	9.29	9.47	6.84
Inventory Turnover (Average Inventory)	4.95	3.41	1.15	1.97	2.13
Short Term Liquidity
Current Ratio	0.31	0.26	0.22	0.26	0.28
Quick Ratio	0.17	0.12	0.03	0.08	0.06
Operating Cash Flow to Current Liabilities	-0.04	0.02	-0.01	0.03	-0
Days Sales Outstanding (Average Receivables)	55.97	58.97	39.41	38.54	53.34
Days Outstanding Inventory (Average Inventory)	73.75	106.99	318.78	185.55	171.32
Average Days Payable Outstanding	424.69	70.07	465.36	538.24	482.03
Cash Conversion Cycle (Average Days)	-294.98	95.89	-107.17	-314.15	-257.37
Long Term Solvency
Total Debt/Equity	-173.62	-280.37	-183.5	-149.46	228.35
Total Debt / Total Capital	235.83	155.44	219.77	302.19	69.54
LT Debt/Equity	-90.98	-64.77	-66.66	-67.67	8.95
Long-Term Debt / Total Capital	123.57	35.91	79.83	136.83	2.72
Total Liabilities / Total Assets	127.26	115.35	125.02	130.98	84.26
EBIT / Interest Expense	-1.1	-0.04	-1.79	-2.18	-1.64
EBITDA / Interest Expense	-0.11	0.76	-0.45	-0.94	-0.45
(EBITDA - Capex) / Interest Expense	-0.15	0.19	-0.8	-1.74	-0.49
Total Debt / EBITDA	-146.36	18.1	-33.8	-16.34	-22.33
Net Debt / EBITDA	-145.65	17.79	-32.3	-15.5	-21.97
Total Debt / (EBITDA - Capex)	-105.98	72.24	-18.8	-8.82	-20.32
Net Debt / (EBITDA - Capex)	-105.47	71.01	-17.97	-8.37	-20
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	91.2	0.6	-52.01	206.58	3.95
Gross Profit, 1 Yr. Growth %	-310.22	505.25	-163.55	64.67	-22.41
EBITDA, 1 Yr. Growth %	-69.08	-962.14	-159.73	118.96	-49.97
EBITA, 1 Yr. Growth %	-20.43	-95.69	4.51T	26.3	-21.14
EBIT, 1 Yr. Growth %	-20.43	-95.69	4.51T	26.3	-21.14
Earnings From Cont. Operations, 1 Yr. Growth %	62.68	-72.01	454.49	-19.06	-20.08
Net Income, 1 Yr. Growth %	62.68	-72.01	454.49	-19.06	-20.08
Normalized Net Income, 1 Yr. Growth %	-19.29	-40.29	191.95	20.61	-14.66
Diluted EPS Before Extra, 1 Yr. Growth %	47.5	-72.05	454.7	-19.07	-20.09
Accounts Receivable, 1 Yr. Growth %	268.11	-65.23	-76.02	1.35T	-46.24
Inventory, 1 Yr. Growth %	3.36	45.82	153.06	28.64	-34.02
Net Property, Plant and Equip., 1 Yr. Growth %	-3.24	17	-3.63	-1.73	-4.83
Total Assets, 1 Yr. Growth %	0.97	17.29	4.51	4.94	-11.92
Tangible Book Value, 1 Yr. Growth %	19.39	-33.96	70.37	29.93	-144.76
Common Equity, 1 Yr. Growth %	19.39	-33.96	70.37	29.93	-144.76
Cash From Operations, 1 Yr. Growth %	-183.2	-151.82	-219.78	-444.31	-108.62
Capital Expenditures, 1 Yr. Growth %	-78.79	1.6T	-36.44	133.71	-94.2
Levered Free Cash Flow, 1 Yr. Growth %	-5.58T	-96.03	-2.59T	-97.16	-3.72T
Unlevered Free Cash Flow, 1 Yr. Growth %	-1.66T	-101.15	9.34T	-92.15	-1.28T
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	45.44	38.69	-30.52	21.3	78.52
Gross Profit, 2 Yr. CAGR %	-32.18	256.7	96.12	2.29	13.03
EBITDA, 2 Yr. CAGR %	-62.51	63.28	126.93	14.36	4.67
EBITA, 2 Yr. CAGR %	-22.78	-81.49	40.96	663.44	-0.2
EBIT, 2 Yr. CAGR %	-22.78	-81.49	40.96	663.44	-0.2
Earnings From Cont. Operations, 2 Yr. CAGR %	14.85	-32.52	24.58	111.85	-19.57
Net Income, 2 Yr. CAGR %	14.85	-32.52	24.58	111.85	-19.57
Normalized Net Income, 2 Yr. CAGR %	-18.77	-30.58	32.03	87.65	1.45
Diluted EPS Before Extra, 2 Yr. CAGR %	21.45	-35.79	24.51	111.88	-19.58
Accounts Receivable, 2 Yr. CAGR %	32.59	13.13	-71.13	86.75	179.64
Inventory, 2 Yr. CAGR %	1.26	22.77	92.1	80.42	-7.87
Net Property, Plant and Equip., 2 Yr. CAGR %	-3.03	6.4	6.18	-2.68	-3.29
Total Assets, 2 Yr. CAGR %	-0.62	8.82	10.72	4.72	-3.86
Tangible Book Value, 2 Yr. CAGR %	25.47	-11.2	6.07	48.79	-23.74
Common Equity, 2 Yr. CAGR %	25.47	-11.2	6.07	48.79	-23.74
Cash From Operations, 2 Yr. CAGR %	-11.47	-34.34	-21.22	103.08	-45.54
Capital Expenditures, 2 Yr. CAGR %	17.14	89.68	228.33	21.88	-63.18
Levered Free Cash Flow, 2 Yr. CAGR %	363.76	47.47	-0.56	-15.79	1.52
Unlevered Free Cash Flow, 2 Yr. CAGR %	225.92	-57.58	4.22	172.19	-3.79
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.46	28.63	-2.63	13.96	15.22
Gross Profit, 3 Yr. CAGR %	12.61	40.67	100.71	85.02	-6.71
EBITDA, 3 Yr. CAGR %	-3.53	6.61	16.78	124.24	-13.18
EBITA, 3 Yr. CAGR %	2.39	-70.5	16.49	35.89	258.22
EBIT, 3 Yr. CAGR %	2.39	-70.5	16.49	35.89	258.22
Earnings From Cont. Operations, 3 Yr. CAGR %	5.15	-28.26	36.17	7.9	53.07
Net Income, 3 Yr. CAGR %	5.15	-28.26	36.17	7.9	53.07
Normalized Net Income, 3 Yr. CAGR %	-2.79	-26.69	12.05	28.11	44.31
Diluted EPS Before Extra, 3 Yr. CAGR %	5.67	-25.57	31.75	7.86	53.09
Accounts Receivable, 3 Yr. CAGR %	-2.63	-15.13	-32.55	6.64	23.31
Inventory, 3 Yr. CAGR %	-9.71	14.35	56.24	68.06	29.02
Net Property, Plant and Equip., 3 Yr. CAGR %	-3.15	3.23	2.94	3.48	-3.4
Total Assets, 3 Yr. CAGR %	-2.89	5.02	7.37	8.76	-1.15
Tangible Book Value, 3 Yr. CAGR %	39.89	1.3	10.34	13.5	-0.31
Common Equity, 3 Yr. CAGR %	39.89	1.3	10.34	13.5	-0.31
Cash From Operations, 3 Yr. CAGR %	-15.84	-25.95	-19.77	28.81	-29.17
Capital Expenditures, 3 Yr. CAGR %	-27.02	185.5	31.75	193.16	-55.83
Levered Free Cash Flow, 3 Yr. CAGR %	199.92	-5.17	278.52	-69.59	195.1
Unlevered Free Cash Flow, 3 Yr. CAGR %	127.64	-50.38	157.1	-55.99	343.8
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-14.03	-4.82	-13.32	25.64	24.09
Gross Profit, 5 Yr. CAGR %	0.53	183.07	40.59	23.84	59.52
EBITDA, 5 Yr. CAGR %	-38.91	-13.29	35.83	9.65	11.77
EBITA, 5 Yr. CAGR %	-13.88	-56.89	16.35	8.39	9.51
EBIT, 5 Yr. CAGR %	-13.88	-56.89	16.35	8.39	9.51
Earnings From Cont. Operations, 5 Yr. CAGR %	0.4	-27.05	12.53	10.63	10.31
Net Income, 5 Yr. CAGR %	0.4	-27.05	12.53	10.63	10.31
Normalized Net Income, 5 Yr. CAGR %	-9.33	-23.34	9.87	6.77	7.69
Diluted EPS Before Extra, 5 Yr. CAGR %	-0.33	-27.08	12.84	13.1	8.14
Accounts Receivable, 5 Yr. CAGR %	-4.49	-18.67	-40.12	16.35	19.14
Inventory, 5 Yr. CAGR %	-21.43	-7.28	22.12	37.23	26.48
Net Property, Plant and Equip., 5 Yr. CAGR %	-3.27	0.57	0.48	0.82	0.4
Total Assets, 5 Yr. CAGR %	-5.06	0.32	2.34	4.9	2.73
Tangible Book Value, 5 Yr. CAGR %	3.73	12.7	25.23	18.14	-4.82
Common Equity, 5 Yr. CAGR %	3.73	12.7	25.23	18.14	-4.82
Cash From Operations, 5 Yr. CAGR %	-18.93	-26.49	-18.03	10.86	-31.29
Capital Expenditures, 5 Yr. CAGR %	-30.47	53.46	33.18	103.11	-20.88
Levered Free Cash Flow, 5 Yr. CAGR %	57.63	-20.46	92.85	-9.57	123.6
Unlevered Free Cash Flow, 5 Yr. CAGR %	47.83	-42.22	66.55	-1.97	73.52