CHAMS : QUARTER 4 - FINANCIAL STATEMENT FOR 2022

Chams Holding Company Plc

Consolidated and Separate Financial Statements For the Twelve Month Ended 31st December 2022

Chams Holding Company Plc

Consolidated and Separate Financial Statements for the Twelve Month ended 31st December, 2022

Contents	Page
Statement of Profit & Loss & Other Comprehensive Income	3
Statement of Financial Position	4-5
Statement of Changes in Equity	6-7
Statement of Cash Flow	8
Notes to the Financial Statement	9-13

2

Chams Holding Company Plc & Its Subsidiaries

Consolidated and Separate Statement of Profit or Loss and other Comprehensive Income for the period ended 31st December, 2022

					GROUP					COMPANY
			Unaudited	Unaudited	Unaudited	Unaudited	Audited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
			2022	2022	2021	2021	2021	2022	2022	2021	2021	2021
	Notes		Oct - Dec	Jan.- Dec	Oct. - Dec	Jan. - Dec		Oct - Dec	Jan.- Dec	Oct. - Dec	Jan. - Dec
			N' 000	N' 000	N' 000	N' 000	N' 000	N' 000	N' 000	N' 000	N' 000	N' 000
Revenue		1	1,383,654	4,542,810	808,476	3,247,789	3,324,752	293	52,043	34,372	317,119	283,395
Cost of Sales		2	(1,007,027)	(3,520,038)	(656,726)	(2,518,015)	(2,579,071)	(18,169)	(74,549)	(17,001)	(219,263)	(219,263)
Gross Profit			376,626	1,022,772	151,750	729,774	745,682	(17,877)	(22,507)	17,371	97,856	64,132
Other operating Income		3	10,130	144,585	283,412	513,820	373,371	43,229	181,088	239,658	296,148	131,844
Administrative Expenses		4	(413,588)	(1,361,356)	(276,248)	(1,016,464)	(1,516,800)	(61,359)	(326,505)	(94,424)	(398,372)	(207,144)
Operating Profit/( Loss)			(26,832)	(193,999)	158,914	227,130	(397,747)	(36,007)	(167,924)	162,605	(4,368)	(11,167)
Finance expense		5	(40,506)	(174,811)	(36,639)	(151,023)	(171,696)	(19,195)	(91,396)	(30,097)	(101,082)	(101,082)
Finance Income			2,108	34,225	4,969	13,172	76,416	1,228	9,716	4,969	13,172	14,316
Profit/(Loss) before Taxation			(65,229)	(334,586)	127,244	89,279	(493,027)	(53,973)	(249,605)	137,477	(92,278)	(97,933)
Taxation credit/ (expense)							133,110					133,150
Profit/(Loss) after Taxation			(65,229)	(334,586)	127,244	89,279	(359,916)	(53,973)	(249,605)	137,477	(92,278)	35,218
Loss/ profit attributable to :
Owners of the parent			(54,365)	(278,860)	110,474	77,512	(299,972)	(53,973)	(249,605)	137,477	(92,278)	35,218
Non- Controlling Interest			(10,864)	(55,725)	16,771	11,767	(59,944)
			(65,229)	(334,586)	127,245	89,279	(359,916)	(53,973)	(249,605)	137,477	(92,278)	35,218
Basic (Loss) / earnings per share (kobo)			(1.16)k	(5.94)k	2.4k	2k	(6.39)k	(1.15)k	(5.32)k	3k	(2)k	0.75K
Diluted (Loss)/ earnings per share (Kobo)			(1.16)k	(5.94)k	2.4k	2k	(6.39)k	(1.15)k	(5.32)k	3k	(2)k	0.75k
Other Comprehensive Income/ Loss
Revaluation surplus on property, plant and
equipment							3,672,611					504,299
Loss on investment securities at fair value
through other comprehensive income							(7,173)					(7,173)
Other Comprehensive Income Income/	Loss		-	-	-	-	3,665,437	-	-	-	-	497,125
Total Comprehensive Income			(65,229)	(334,586)	127,244	89,279	3,305,521	(53,973)	(249,605)	137,477	(92,278)	532,343
Profit/Loss for the period attributable to :
Owners of the company			-	-	-	-	2,398,112	(53,973)	(249,605)	137,477	(92,278)	532,343
Non controlling interest			-	-	-	-	1,267,325
			-	-	-	-	3,665,437	(53,973)	(249,605)	137,477	(92,278)	532,343
Total comprehensive income attributable	to:
Owners of Parent			(41,404)	(212,374)	110,474	77,512	2,098,141	(53,973)	(249,605)	137,477	(92,278)	532,343
Non controlling interest			(23,826)	(122,211)	16,771	11,767	1,207,381
			(65,229)	(334,586)	127,245	89,279	3,305,522	(53,973)	(249,605)	137,477	(92,278)	532,343

3

Chams Holding Company Plc & Its Subsidiaries

Unaudited Consolidated and Separate Statement of Financial Position for the period ended December 31 , 2022

			GROUP			COMPANY
		Chams Group	Chams Group	Chams Group	Chams Plc	Chams Plc	Chams Plc
		Unaudited	Unaudited	Audited	Unaudited	Unaudited	Audited
	NOTES	DEC 2022	DEC 2021	2021	DEC 2022	DEC 2021	2021
Assets		N'000	N'000	N'000	N'000	N'000	N'000
Non-current assets
Right of Use of Asset				21,900
Property,plant and equipment	6	2,273,390	2,375,121	2,261,538	1,721,339	1,792,262	1,768,373
Investment Project		17,835	538,160	460	460	538,160	460
Intangible Asset	7	4,159,306	4,094,317	5,235,776
Investment in Subsidiaries		-		-	3,548,164	2,375,521	3,548,164
Investment in associates		75,000		74,898	75,000		74,898
Investment in Joint Ventures		-	100,000	17,375		100,000
Investment securities at fair value through other
Comprehensive Income		92,827		92,827	92,827		92,827
		6,618,358	7,107,598	7,704,775	5,437,790	4,805,943	5,484,722
CURRENT ASSETS
Inventory & Work In Progress	8	903,021	131,128	233,145		282
Trade and other receivable	9	1,920,601	3,886,471	966,716	983,209	819,306	724,242
Short term investment		17,578
Cash and Cash Equivalent	10	1,360,754	1,709,915	2,920,711	2,665	43,186	44,363
		4,201,953	5,727,514	4,120,572	985,874	862,774	768,605
Total Assets		10,820,311	12,835,112	11,825,346	6,423,664	5,668,717	6,253,327
Liabilities
Non -current liabilities
Lease liabilities		-		10,680
Long Term Loan	11	1,241,663	1,223,242	1,196,547	984,722	962,706	962,706
Deferred Tax/ Income					-		-
		1,241,663	1,223,242	1,207,227	984,722	962,706	962,706
Current liabilities
Trade and other Payable	12	4,101,431	9,124,411	5,683,864	1,699,579	952,842	1,331,536
Loan & Borrowing				28,121
Deposit for Shares	13	366,283	304,933
Defered Income		556,606	2,817	61,789
Taxation		154,279	157,018	109,709	106,580	65,158	76,696
		5,178,598	9,589,179	5,883,484	1,806,159	1,018,000	1,408,232
Total liabilities		6,420,261	10,812,421	7,090,711	2,790,880	1,980,706	2,370,938
NET ASSETS		4,400,050	2,022,691	4,734,636	3,632,784	3,688,011	3,882,389

4

Chams Holding Company Plc & Its Subsidiaries

Unaudited Consolidated and Separate Financial Statements for the period ended December 31, 2022

Statement of Financial Position (Continued)

As at December 31, 2022

		Chams Group	Chams Group	Chams Group	Chams Plc	Chams Plc	Chams Plc
		Unaudited	Unaudited	Audited	Unaudited	Unaudited	Audited
		DEC 2022	DEC 2021	Jul-05	DEC 2022	DEC 2021	2021
		N'000	N'000	N'000	N'000	N'000	N'000
Issued capital and reserves attributable to
owners of the parent
Share Capital		2,348,030	2,348,030	2,348,030	2,348,030	2,348,030	2,348,030
Share Premium		35,009	35,009	35,008	35,008	35,008	35,008
Revaluation Reserve		3,887,450	1,986,463	3,887,450	1,463,364	1,463,364	1,463,364
Capital Reserve		145,522	145,522	145,522			-
Retained Earnings	14ii	(3,166,407)	(2,510,063)	(2,887,547)	(206,445)	(158,391)	43,160
Fairvalue Reserve		(7,173)		(7,173)	(7,173)		(7,173)
Equity Attributable to Owners of the Parent		3,242,431	2,004,961	3,521,290	3,632,784	3,688,011	3,882,389
Non-Controlling Interest		1,157,619	17,730	1,213,344
TOTAL EQUITY		4,400,050	2,022,691	4,734,634	3,632,784	3,688,011	3,882,389

The Financial statements on Pages 2 to 5 were approved for issue by the Board of Directors on January 30 2023, 2022 and signed on its behalf by :

Mayowa Olaniyan	Ifeoma N. Obasanya
Group Managing Director	Head, Finance & Account
FRC/2013/ICAN/00000004330	FRC/2022/PRO/NIM/002/191239

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