DIALOG AXIATA PLC
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE FOURTH QUARTER ENDED
31 DECEMBER 2022
Page 1
Report on Review of Condensed Consolidated Interim Financial Information To the Directors of Dialog Axiata PLC
Introduction
We have reviewed the accompanying condensed interim statement of financial position of Dialog Axiata PLC ("the Company") and condensed consolidated interim statement of financial position of Dialog Axiata PLC and its subsidiaries ("the Group") as of 31 December 2022, and the related condensed statements of comprehensive income for the twelve months ended and 3 months ended 31 December 2022, changes in equity and cash flows for the twelve months ended 31 December 2022 period then ended and notes, comprising a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation and presentation of this condensed interim financial information of the Company and condensed consolidated interim financial information of the Group in accordance with the Sri Lanka Accounting Standard 34 [LKAS 34] - Interim Financial Reporting. Our responsibility is to express a conclusion on this interim financial information based on our review.
Scope of Review
We conducted our review in accordance with the Sri Lanka Standard on Review Engagements [SLSRE] 2410 - 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity'. A review of interim financial information consists of making of inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Sri Lanka Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial information of the Company and the condensed consolidate interim financial information of the Group are not presented, in all material respects, in accordance with the Sri Lanka Accounting Standard 34 [LKAS 34] - Interim Financial Reporting.
COLOMBO | CHARTERED ACCOUNTANTS |
10 February 2023
PricewaterhouseCoopers, P. O. Box 918, 100 Braybrooke Place, Colombo 2, Sri Lanka
T: +94 (11) 771 9700, 771 9838, F: +94 (11) 230 3197, www.pwc.com/lk
Partners D T S H Mudalige FCA, C S Manoharan FCA, Ms S Hadgie FCA, N R Gunasekera FCA, T U Jayasinghe FCA, H P V Lakdeva FCA, M D B Boyagoda FCA, Ms W D A S U Perera ACA, Ms L A C Tillekeratne ACA, K M D R P Manatunga ACA
PricewaterhouseCoopers is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.
DIALOG AXIATA PLC
Statement of financial position
(all amounts in Sri Lanka Rupees thousands)
ASSETS
Non-current assets
Intangible assets
Contract costs assets
Property, plant and equipment
Right-of-use assets
Deferred tax asset
Investment in subsidiaries
Investment in associates
Other financial assets
Current assets
Inventories
Trade and other receivables
Other financial assets
Cash and cash equivalents
Total assets
EQUITY
Capital and reserves attributable to equity holders Stated capital
Reserves
Non-controlling interest
Total equity
LIABILITIES
Non-current liabilities
Borrowings
Contract liabilities
Deferred income
Lease liabilities
Other financial liabilities
Employee benefit payables
Provision for other liabilities
Deferred tax liability
Current liabilities
Trade and other payables
Borrowings
Other financial liabilities
Lease liabilities
Contract liabilities
Current income tax liabilities
Total liabilities
Total equity and liabilities
Net assets per share (Rs.)
Page 2
Group | Company | ||
31 Dec 2022 | 31 Dec 2021 | 31 Dec 2022 | 31 Dec 2021 |
(Reviewed) | (Audited) | (Reviewed) | (Audited) |
13,317,262 | 16,857,691 | 7,119,264 | 6,081,492 |
10,573,568 | 10,909,988 | 2,852,882 | 2,613,195 |
156,236,582 | 127,452,429 | 116,246,596 | 91,360,686 |
8,531,477 | 7,346,093 | 8,279,270 | 7,189,509 |
219,720 | 181,816 | - | - |
- | - | 39,207,068 | 50,621,104 |
104,948 | 183,025 | - | - |
2,228,434 | 1,469,431 | - | - |
191,211,991 | 164,400,473 | 173,705,080 | 157,865,986 |
2,870,804 | 3,712,248 | 197,918 | 216,670 |
30,920,907 | 26,994,303 | 33,625,447 | 21,340,503 |
1,599,862 | 1,814,547 | - | - |
40,546,906 | 22,078,857 | 30,978,618 | 18,488,499 |
75,938,479 | 54,599,955 | 64,801,983 | 40,045,672 |
267,150,470 | 219,000,428 | 238,507,063 | 197,911,658 |
29,349,706 | 28,855,862 | 29,349,706 | 28,855,862 |
15,866,349 | 64,731,300 | 15,136,848 | 68,176,351 |
(66,107) | (72,275) | - | - |
45,149,948 | 93,514,887 | 44,486,554 | 97,032,213 |
66,581,118 | 10,477,656 | 65,282,580 | 8,319,323 |
4,945,910 | 1,921,962 | 4,208,273 | 857,022 |
283,735 | 408,132 | 283,735 | 408,132 |
7,797,196 | 6,255,902 | 7,551,270 | 6,078,964 |
20,544 | 86,947 | - | - |
3,193,399 | 1,690,014 | 2,437,154 | 1,300,150 |
5,547,146 | 2,129,209 | 5,215,949 | 1,873,587 |
20,104 | 22,448 | - | - |
88,389,152 | 22,992,270 | 84,978,961 | 18,837,178 |
80,517,912 | 56,985,403 | 63,956,319 | 44,254,044 |
37,008,681 | 31,357,958 | 35,107,225 | 26,531,973 |
3,774,729 | 689,685 | - | - |
1,924,449 | 1,457,784 | 1,873,519 | 1,422,379 |
8,787,804 | 10,989,578 | 6,525,075 | 8,852,736 |
1,597,795 | 1,012,863 | 1,579,410 | 981,135 |
133,611,370 | 102,493,271 | 109,041,548 | 82,042,267 |
222,000,522 | 125,485,541 | 194,020,509 | 100,879,445 |
267,150,470 | 219,000,428 | 238,507,063 | 197,911,658 |
5.48 | 11.40 | 5.40 | 11.83 |
The notes on pages 8 to 15 form an integral part of these financial statements.
I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act, No. 07 of 2007.
……………………………….......
Group Chief Financial Officer
Date: 10/02/2023
The Board of Directors is responsible for the preparation and presentation of these financial statements. Approved and signed for and on behalf of the Board of Directors.
………………………… | ………………… |
Director | Director |
Date: 10/02/2023 | Date: 10/02/2023 |
Page 3 | ||||
DIALOG AXIATA PLC | ||||
Statement of comprehensive income | ||||
(all amounts in Sri Lanka Rupees thousands) | ||||
Group | Company | |||
Year ended 31 Dec | Year ended 31 Dec | |||
2022 | 2021 | 2022 | 2021 | |
(Reviewed) | (Audited) | (Reviewed) | (Audited) | |
Revenue | 178,130,762 | 141,914,839 | 101,372,997 | 90,958,769 |
Direct costs | (117,947,759) | (80,261,683) | (52,523,333) | (42,028,347) |
Gross profit | 60,183,003 | 61,653,156 | 48,849,664 | 48,930,422 |
Distribution costs | (16,477,205) | (15,653,897) | (14,016,863) | (13,494,432) |
Administrative costs | (39,847,190) | (22,318,503) | (40,261,413) | (18,396,568) |
Net impairment losses on financial assets | (1,728,411) | (921,167) | (920,605) | (677,724) |
Other income | 438,230 | 680,416 | 253,362 | 454,450 |
Operating profit/ (loss) | 2,568,427 | 23,440,005 | (6,095,855) | 16,816,148 |
Finance income | 2,396,014 | 456,564 | 2,450,721 | 463,255 |
Finance costs | (5,308,623) | (2,171,042) | (5,010,147) | (1,945,330) |
Net foreign exchange losses | (30,280,313) | (2,644,003) | (26,902,351) | (2,336,111) |
Finance costs - net | (33,192,922) | (4,358,481) | (29,461,777) | (3,818,186) |
Share of loss from associates - net of tax | (78,077) | (28,765) | - | - |
(Loss) / profit before income tax | (30,702,572) | 19,052,759 | (35,557,663) | 12,997,962 |
Income tax expense | (2,706,119) | (2,033,991) | (2,751,125) | (1,846,881) |
(Loss) / profit for the period | (33,408,691) | 17,018,768 | (38,308,757) | 11,151,081 |
Other comprehensive income | ||||
Items that will not be reclassified to profit or | ||||
loss | ||||
- changes in the fair value of equity investments | ||||
at fair value through other comprehensive | ||||
income, net of tax | 30,550 | (13,010) | - | - |
- remeasurements of defined benefit obligations, | ||||
net of tax | (1,266,473) | 102,539 | (953,909) | 73,229 |
Other comprehensive income for the period, | ||||
net of tax | (1,235,923) | 89,529 | (953,909) | 73,229 |
Total comprehensive income for the period | (34,644,614) | 17,108,297 | (39,262,666) | 11,224,310 |
(Loss) / profit for the period attributable to: | ||||
- owners of the Company | (33,387,921) | 17,060,812 | (38,308,757) | 11,151,081 |
- non-controlling interest | (20,770) | (42,044) | - | - |
Total comprehensive income for the period | ||||
attributable to: | ||||
- owners of the Company | (34,623,842) | 17,151,777 | (39,262,666) | 11,224,310 |
- non-controlling interest | (20,772) | (43,480) | - | - |
Earnings per share | ||||
- basic | (4.06) | 2.08 | (4.66) | 1.36 |
- diluted | (4.04) | 2.06 | (4.63) | 1.35 |
The notes on pages 8 to 15 form an integral part of these financial statements.
DIALOG AXIATA PLC
Statement of comprehensive income
(all amounts in Sri Lanka Rupees thousands)
Revenue
Direct costs
Gross profit
Distribution costs
Administrative costs
Net impairment (losses) / gain on financial assets Other income
Operating (loss) / profit
Finance income
Finance costs
Net foreign exchange gains / (losses)
Finance income / (costs) - net
Share of loss from associates - net of tax (Loss) / profit before income tax Income tax expense
(Loss) / profit for the period
Other comprehensive income
Items that will not be reclassified to profit or loss
- changes in the fair value of equity investments at fair value through other comprehensive income, net of tax
- remeasurement of defined benefit obligations, net of tax
Other comprehensive income for the period, net of tax
Total comprehensive income for the period
(Loss) / Profit for the period attributable to:
- owners of the Company
- non-controllinginterest
Total comprehensive income for the period attributable to:
- owners of the Company
- non-controllinginterest
Earnings per share
- basic
- diluted
Page 4
Group | Company | ||
Three months ended 31 Dec | Three months ended 31 Dec | ||
2022 | 2021 | 2022 | 2021 |
(Reviewed) | (Reviewed) | (Reviewed) | (Reviewed) |
50,948,775 | 37,123,556 | 26,468,444 | 23,403,332 |
(35,026,796) | (20,554,072) | (14,363,016) | (10,748,375) |
15,921,979 | 16,569,484 | 12,105,428 | 12,654,957 |
(4,523,301) | (5,246,529) | (3,865,974) | (4,672,442) |
(19,978,605) | (5,946,549) | (24,225,553) | (4,664,984) |
(463,032) | 85,246 | (185,352) | (32,013) |
239,502 | 433,343 | 78,423 | 246,148 |
(8,803,457) | 5,894,995 | (16,092,928) | 3,531,666 |
1,034,548 | 179,500 | 1,076,703 | 183,508 |
(2,270,238) | (709,233) | (2,202,741) | (620,575) |
2,626,887 | (307,018) | 1,909,547 | (168,322) |
1,391,197 | (836,751) | 783,509 | (605,389) |
(16,539) | (15,277) | - | - |
(7,428,799) | 5,042,967 | (15,309,419) | 2,926,277 |
(868,080) | (475,920) | (918,816) | (421,431) |
(8,296,879) | 4,567,047 | (16,228,235) | 2,504,846 |
30,550 | 12,187 | - | - |
(1,266,473) | 102,966 | (953,909) | 73,229 |
(1,235,923) | 115,153 | (953,909) | 73,229 |
(9,532,802) | 4,682,200 | (17,182,144) | 2,578,075 |
(8,291,307) | 4,586,834 | (16,228,235) | 2,504,846 |
(5,572) | (19,787) | - | - |
(9,527,228) | 4,700,569 | (17,182,144) | 2,578,075 |
(5,574) | (18,369) | - | - |
(1.01) | 0.56 | (4.67) | 0.31 |
(1.01) | 0.56 | (4.67) | 0.31 |
The notes on pages 8 to 15 form an integral part of these financial statements.
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Dialog Axiata plc published this content on 10 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2023 11:51:00 UTC.