Al Waha Capital : Report and consolidated financial information for the three month period ended 30 September 2022

Report and condensed consolidated financial information for the nine-month period ended 30 September 2022

www.wahacapital.ae

TABLE OF CONTENTS

01		02		03
Report on review of		Condensed consolidated		Condensed consolidated
condensed consolidated		statement of financial		statement of profit or
financial information		position		loss

04		05		06
Condensed consolidated		Condensed consolidated		Condensed consolidated
statement of profit or		statement of changes in		statement of cash flows
loss and other		equity
comprehensive income

07

Notes to the condensed consolidated financial statements

Condensed consolidated statement of financial position

	Note	As at		As at
			30 September 2022		31 December 2021
			(Unaudited)		(Audited)
			AED '000		AED '000
ASSETS
Property and equipment, net			18,818	36,392
Right-of-use assets	17		34,137	99,649
Investment property	7		243,322	711,422
Goodwill and intangible assets			36,965	78,983
Loan investments	8		39,453	-
Investments in equity-accounted associates and joint
ventures	9		165,516	170,242
Financial investments	10		6,611,740	6,414,024
Inventories			2,015	15,604
Trade and other receivables	11		657,605	641,900
Cash and bank balances	12		687,710		1,421,350
Assets held for sale	6		466,800		-
Total assets			8,964,081	9,589,566
EQUITY AND LIABILITIES
Equity
Share capital	13		1,944,515	1,944,515
Treasury shares			(157,735)	(267,184)
Retained earnings			1,017,764	1,089,852
Reserves			544,420		544,666
Equity attributable to the Owners of the Company			3,348,964	3,311,849
Non-controlling interests			1,722,139		1,479,541
Total equity			5,071,103	4,791,390
Liabilities
Borrowings	14		3,307,522	4,117,198
End of service benefit provision			19,054	26,288
Derivative liabilities	15		92,989	100,626
Lease liabilities	17		37,529	119,918
Trade and other liabilities	16		435,884		434,146
Total liabilities			3,892,978		4,798,176
Total equity and liabilities			8,964,081		9,589,566

These condensed consolidated financial statements were authorised for issue by the Board of Directors on 28 October

2022 and signed on their behalf by:

Chairman

Vice Chairman

Acting Chief Financial Officer

The notes numbered 1 to 24 are an integral part of these condensed consolidated financial statements. 2

Condensed consolidated statement of profit or loss

			Nine-month			Nine-month		Three-month			Three-month
			period ended			period ended		period ended			period ended
			30 September			30 September		30 September			30 September
			2022		2021			2022		2021
			(Unaudited)			(Unaudited)		(Unaudited)			(Unaudited)
	Note		AED '000			AED '000		AED '000			AED '000
Continuing operations
Revenue from sale of goods and
services	18		79,847		91,447			24,472		25,728
			(65,412)						(21,045)
Cost of sale of goods and services	18			(65,794)				(20,266)
Gross profit			14,435			25,653			3,427			5,462
Share of profit / (loss) from equity-
accounted associates and joint
ventures, net	9		7,106		(14,427)			2,120		(4,285)
Impairment of equity-accounted
associates and joint ventures			-		(77,969)			-		(45,955)
Gain on disposal of equity-
accounted associates and joint
ventures	9		31,263		50,511			-		-
Income from financial
investments, net	19		339,708		670,133			189,855		168,597
Income from investment
property, net			36,549		36,236			11,977		13,024
			11,487						9,169
Other income, net				3,968				9,078
Net operating income			440,548			694,105			216,548			145,921
General and administrative
expenses	20		(122,419)		(155,987)			(57,826)		(48,261)
			(82,221)						(27,937)
Finance cost, net	21			(65,973)				(24,173)
Profit for the period from
continuing operations			235,908		472,145			130,785		73,487
Discontinued operations
Loss for the period			(9,887)						(3,457)
6			(17,956)				(2,376)
Gain on disposal of subsidiary			32,653						32,653
22			-				-
Profit / (loss) for the period
from discontinued
operations			22,766		(17,956)			29,196		(2,376)
Profit for the period			258,674			454,189			159,981			71,111
Profit for the period
attributable to:			186,966						99,684
Owners of the Company				296,540				32,059
Non-controlling interests			71,708		157,649			60,297		39,052
Profit for the period			258,674			454,189			159,981			71,111
Basic and diluted earnings per
share attributable to the
Owners of the Company (AED)	13		0.100		0.161			0.053		0.017
Basic and diluted earnings per
share from continuing
operations attributable to the
Owners of the Company (AED)	13		0.084		0.171			0.037		0.019

The notes numbered 1 to 24 are an integral part of these condensed consolidated financial statements. 3