TIDMDPEU
RNS Number : 9462V
DP Eurasia N.V
12 April 2023
For Immediate Release 12 April 2023
DP Eurasia N.V.
("DP Eurasia" or the "Company", and together with its
subsidiaries, the " Group ")
Preliminary Results for the Period Ended 31 December 2022
(1)
Highlights (2)
2022 2021 Change
---------------------------------- --------- --------- ------- ----------
Number of stores 859 817 42
(excluding Russia) 700 629 71
---------------------------------- --------- --------- ------- ----------
Change
Group system sales (after (pre-IAS
IAS 29) (3) 2022 2021 Change 29)
Turkey 3,391.5 3,417.1 -0.7% 72.1%
Azerbaijan 79.2 64.9 22.1% 109.8%
Georgia 42.6 27.4 55.4% 165.1%
COFFY 59.2 11.2 429.5% 828.8%
Total continuing operations 3,572.5 3,520.5 1.5% 76.0%
Russia (discontinued operations) 1,119.9 629.4 77.9% 77.9%
Grand Total 4,692.4 4,149.9 13.1% 76.5%
---------------------------------- --------- --------- ------- ----------
System sales LfL growth(4) (after IAS 29) (pre-IAS 29)
2022 2021 2022 2021
Turkey -5.6% 25.9% 63.5% 50.4%
Azerbaijan (based on AZN) 8.0% 7.1% 8.0% 7.1%
Georgia (based on GEL) 12.6% 67.2% 12.6% 67.2%
Total continuing operations -5.3% 26.0% 62.2% 49.9%
Russia (discontinued operations,
based on RUB) -9.8% 9.6% -9.8% 9.6%
Group financials (after IAS 29) (pre-IAS 29)
2022 2021 Change 2022 2021 Change
Revenue 2,219.7 2,062.7 7.6% 1,917.3 1,031.6 86.0%
Turkey adjusted
EBITDA(5) 336.6 313.1 7.5% 383.2 202.4 89.3%
Adjusted EBITDA(5) 311.0 295.5 5.3% 357.4 185.1 93.1%
Adjusted net income
( from continuing
operations ) (6) 214.2 142.8 50.0% 238.1 93.2 155.5%
Adjusted net debt(7) 562.1 561.9 0.0% 562.1 349.6 60.1%
Net debt, including
Russia 908.8 829.4 9.6% 908.8 581.6 56.2%
---------------------- --------- --------- ------- ----------- ---------- ---------
Financial Highlights ( from continuing operations)
-- Group revenue increased 7.6% (pre-IAS 29: 86%) and system
sales were up 1.5% (pre-IAS 29: 76%), reflecting healthy growth
against very strong comparatives.
-- Removing the beneficial impact of the 2021 VAT reduction, the
Group's LfL performance was flat as the pace of inflation was met.
The VAT reduction, of 7pp to 1%, lasted until the end of September
2021. Overall, the Group's LfL performance was -5.3%.
-- Adjusted EBITDA increased 5.3% to TRY 311 million and was
achieved in a difficult cost environment as Turkish operations
faced an average 72% headline inflation during the year.
-- Adjusted net income (from continuing operations) increased
50% to TRY 214 million (2021: TRY 143 million).
-- The Group maintained a strong liquidity position as of 31
December 2022, with TRY 360 million cash (excluding cash of Russia)
and an undrawn bank facility of TRY 225 million as of 31 December
2022.
-- Adjusted net debt was TRY 562 million as of 31 December 2022.
Operational Highlights ( from continuing operations)
-- Online delivery system sales increased to 81.2% (2021: 76.3%)
as a share of delivery system sales(8) , reflecting our robust
positioning for the online ordering channel. Turkish online system
sales(9) growth was 1.6% (pre-IAS 29: 75.7%).
-- Turkish net new store openings of 48 for Domino's Pizza,
higher than guidance range of 30-40 for 2022, reflects strong
demand and maintained network expansion momentum, building on the
record year in 2021.
-- The Group opened two new stores in Georgia, bringing the
total number of stores to six in the country.
-- The COFFY network increased by 21 stores to reach 29, with
solid ongoing franchisee demand. COFFY continues to represent an
excellent growth opportunity for the Group.
-- The Board is deeply saddened by the earthquake that
devastated prominent cities of Turkey in February, and regrets to
disclose that four colleagues lost their lives. 12 out of the total
655 Domino's Pizza stores in Turkey are not operational, and the
Group is working on several options, including moving those stores
to other cities. A specific project currently being developed is
opening prefabricated stores in the affected regions. The impact of
the earthquake on our operations is not expected to be material to
2023.
-- The Group continues to evaluate its presence in Russia and,
as previously announced is considering various options which may
include a divestment of its Russian operations. Whilst work on a
potential transaction is ongoing, there can be no certainty as to
the outcome. In the meantime, the Group continues to limit
investment in Russia and remains focused on optimising the existing
store coverage. Following the closure of 29 stores in 2022, the
Russian store count stood at 159 as of 31 December 2022.
Current trading
System sales growth and like-for-like growth for the eleven
weeks ended 19 March of 2023 compared to the same period in 2022
were as follows:
System sales growth (after IAS For the eleven weeks ended 19 March
29 )(3) 2023
--------------------------------- -----------------------------------
Turkey 15.5%
Azerbaijan -10.8%
Georgia 40.9%
COFFY 469.1%
Total continuing operations 18.2%
Russia (discontinued operations) 11.6%
--------------------------------- -----------------------------------
System sales like-for-like growth
(3) ,(4)
---------------------------------- ------
Turkey 11.5%
Russia (discontinued operations,
based on RUB) -20.8%
---------------------------------- ------
2023 Outlook
-- The strong store openings momentum in Turkey is anticipated
to continue for both Domino's and COFFY, driven by solid franchisee
demand. Our commitment to maintaining franchisee profitability is
front and centre of this demand. 2023 is therefore anticipated to
be another year of strong network expansion as the Group seeks to
broaden its coverage to cater to demand.
-- The Group anticipates that it will maintain organic and LfL
sales momentum in 2023 driven by sustained network growth, volume
expansion and targeted price adjustments. New customer acquisition
and increased order frequency levels are expected to contribute to
growing volumes.
-- Group system sales growth performance has started strongly in
the first 11 weeks of 2023, up 18.2% for continuing operations and
up 11.5% in Turkey on a like-for-like basis. (3,(4))
-- The Group is mindful that 2023 will be another year of
volatile macro-economic circumstance and uncertainty. The inflation
risk persists, and while the Group has a good track record of
managing and negating the impact of inflation, it may affect
overall growth levels. Nevertheless, the Group continues to believe
that it can continue to appropriately manage the inflationary
risk.
-- Guidance for store openings, LfL growth rates and capital
expenditure in Turkey for 2023 is as follows:
LfL growth rate High single digit
(pre IAS 29: 60-70%)
Domino's Pizza net store
openings 35 - 40
COFFY net store openings 50 - 60
Capital expenditure TRY 160 mn
------------------------- ---------------------
Commenting on the results, Chief Executive Officer, Aslan
Saranga said:
"I would like to extend our condolences to all grieving families
who lost their loved ones during the devastating earthquake that
impacted the prominent cities of our country. We will continue to
stand in solidarity with our employees, business partners and
community in this difficult time.
"Having worked extremely hard to combat the high levels of
financial volatility in the regions we operate, I am pleased to be
reporting solid results. Strong trading momentum was maintained,
thanks to the healthy dynamics of the sub-sectors the Group
operates within and the team's careful navigation of the obvious
challenges, inflation being one.
"Our growth is continuing and 2023 has started well, with solid
LfL growth rates enabled as a result of our capabilities,
experienced team, and culture. We have an innovative and
customer-centric mindset, helping us to grow in a healthy manner as
we pursue long term and sustainable profit.
"In 2022, our LfL performance caught up with the rapid pace of
inflation, as we successfully implemented our targeted action plan
to overcome macro factors largely outside of our control. Our clear
and targeted strategy focuses on three areas - strategic pricing
and product innovation, continued digital innovation, and
operational excellence for everyday efficiency. This approach
enabled us to combat the high volatility levels with the positive
impact visible in terms of volume generation and customer
acquisition. Despite unprecedented cost pressures, adjusted EBITDA
grew 5.3% and adjusted net income increased by 47.2%.
"Our focus on product innovation is integral, allowing us to
present a broad choice to customers who increasingly seek value and
affordability amid the inflationary environment. Pizzetta, which
costs USD $1, has become very successful since its launch in Q4,
and we also introduced a 'snacks from the oven' range, completing
our suite of value options and highlighting our drive for sustained
innovation.
"In 2022, we continued to improve the online proportion of our
sales, and digital innovation remains an important enabler for us
to enhance the customer experience and solidify our robust
positioning for the online ordering channel.
"We retain a fundamental commitment to ensuring franchisees
remain profitable. As a result, franchisee demand was very strong
in 2022 and our Domino's Pizza network in Turkey grew by 48 stores.
"We maintain a healthy pipeline with sustained franchisee interest
and are confident that 2023 will be another excellent year for
network expansion.
"COFFY, our own brand, strengthened its presence in the Turkish
market with an accelerated expansion programme. Having developed
multiple store concepts to fit in with local circumstances, the
COFFY network reached 29 stores in five cities at year-end.
Franchisee demand stands very strong owing to COFFY's proven sales
performance. This demand, alongside our ambitious targets for 2023,
will enable us to add further scale in a sub-sector that is of
increasing popularity.
"2022 was a year that proved our resilience and agile executing
capabilities. I am very pleased to be delivering strong store
growth and maintaining healthy profitability levels at the same
time. Our regional markets are blessed with unique growth
opportunities and, while volatility is set to continue, the Board
expects another year of good growth in 2023."
Enquiries
DP Eurasia N.V.
İlknur Kocaer, CFA - Investor Relations
Director +90 212 280 9636
Buchanan (Financial Communications)
Richard Oldworth / Toto Berger / Verity +44 20 7466 5000
Parker dp@buchanan.uk.com
Analyst Briefing and Conference Call
An in-person briefing will be held at 9.00am UK time at the
offices of Buchanan, 107 Cheapside, London, EC2V 6DN. Please
contact Buchanan on dp@buchanan.uk.com to register your
attendance.
The briefing will also be available remotely, via a conference
call facility. Please register for the conference call facility at
this link . Once registered you will receive an email containing
your dial in number(s) and PINs. The call will be accompanied with
a presentation, which will be made available on the morning of
results and accessed at www.dpeurasia.com .
DP Eurasia N.V.'s 2022 preliminary results presentation is
available at www.dpeurasia.com . A conference call replay will be
available on the website in due course.
Notes
(1) The audit process of consolidated financial statements for
the twelve months ended 31 December 2022 has not been completed as
of the publishing date of this press release. Consequently, these
figures are unaudited.
(2) All Group figures exclude Russian business which is now a
discontinued operation. COFFY numbers are included in all Turkey
and Group figures, unless presented separately. Like-for-like
figures exclude COFFY
(3) System sales are sales generated by the Group's corporate
and franchised stores to external customers and do not represent
revenue of the Group. These numbers are not audited.
(4) Like-for-like growth is a comparison of sales between two
periods that compares system sales of existing system stores. The
Group's system stores that are included in like-for-like system
sales comparisons are those that have operated for at least 52
weeks preceding the beginning of the first month of the period used
in the like-for-like comparisons for a certain reporting period,
assuming the relevant system store has not subsequently closed or
been "split" (which involves the Group opening an additional store
within the same map of an existing store or in an overlapping
area). This is a non-IFRS measure and non-IFRS measures are not
audited.
(5) EBITDA, adjusted EBITDA and non-recurring and non-trade
income/expenses are not defined by IFRS and non-IFRS measures are
not audited. These items are determined by the principles defined
by the Group management and comprise income/expenses which are
assumed by the Group management to not be part of the normal course
of business and are non-trading items. These items which are not
defined by IFRS are disclosed by the Group management separately
for a better understanding and measurement of the sustainable
performance of the Group. Reconciliation of EBITDA, adjusted EBITDA
with consolidated financial statements will be presented in Note 3
of Group financial statements section of our annual report.
(6) Adjusted net income is not defined by IFRS and non-IFRS
measures are not audited. Adjusted net income excludes income and
expenses which are not part of the normal course of business and
are non-recurring items. Management uses this measurement basis to
focus on core trading activities of the business segments and to
assist it in evaluating underlying business performance.
Reconciliation of EBITDA, adjusted EBITDA with consolidated
financial statements will be presented in Note 3 of Group financial
statements section of our annual report.
(7) Net debt and adjusted net debt are not defined by IFRS and
non-IFRS measures are not audited. Adjusted net debt includes cash
deposits used as a loan guarantee and cash paid, but not collected
during the non-working day at the year end. Management uses these
numbers to focus on net debt including deposits not otherwise
considered cash and cash equivalents under IFRS.
(8) Delivery system sales are system sales of the Group
generated through the Group's delivery distribution channel.
(9) Online system sales are system sales of the Group generated
through its online ordering channel.
Notes to Editors
DP Eurasia N.V. is the exclusive master franchisee of the
Domino's Pizza brand in Turkey, Russia, Azerbaijan, and Georgia.
The Company was admitted to the premium listing segment of the
Official List of the Financial Conduct Authority and to trading on
the main market for listed securities of the London Stock Exchange
plc on 3 July 2017. The Company (together with its subsidiaries,
the " Group " ) is the largest pizza delivery company in Turkey and
the third largest in Russia. The Group offers pizza delivery and
takeaway/ eat-in facilities at its 830 stores (655 in Turkey, 159
in Russia, 10 in Azerbaijan and 6 in Georgia as of 31 December
2022) and operates through its owned corporate stores (18%) and
franchised stores (82%). In addition to its pizza delivery
business, the Group also has its own coffee brand, COFFY, which
trades from 29 stores at period-end, 19 of which are franchised.
The Group maintains a strategic balance between corporate and
franchised stores, establishing networks of corporate stores in its
most densely populated areas to provide a development platform upon
which to promote best practice and maximise profitability. The
Group has adapted the Domino's Pizza globally proven business model
to its local markets.
Performance Review
Store count As of 31 December
--------------------------------------------------------
2022 2021
Corporate Franchised Total Corporate Franchised Total
Turkey (Domino's) 89 566 655 100 507 607
Azerbaijan - 10 10 - 10 10
Georgia - 6 6 - 4 4
COFFY 10 19 29 5 3 8
Total 99 601 700 105 524 629
Russia 63 96 159 94 94 188
Grand Total 162 697 859 199 618 817
DP Eurasia's store count for continuing operations increased by
71 year-on-year, or by 42 stores when including Russia - the
difference being the store rationalisation programme in the
territory. As a result of this growth in our core territories, the
Group increased its system sales by 1.5% year-on-year. Growth on a
pre-inflation adjustment basis would have been 76%.
System sales of our Domino's Pizza operations in Turkey was flat
on an inflation adjusted basis. Nonetheless, adjusted for last
year's VAT reduction, of 7pp to 1% (which lasted until end of
September 2021), system sales growth would have been 4.4%. The
Group experienced robust franchisee demand in Turkey resulting in a
strong store pipeline, laying solid foundations for ongoing network
expansion and growth. The Domino's Pizza net store count in Turkey
increased by 8% over the last twelve months, with 48 net additions
being higher than the guided range of 30-40 and building on a
record year in 2021.
COFFY demonstrated a very strong sales performance and
represents an outstanding growth opportunity for the Group. COFFY
store network growth accelerated in 2022 with 21 new openings,
meaning the concept has 29 stores in total - in line with guidance
to reach between 20-30 stores - thanks to solid franchisee
demand.
System sales of the Russian operations, which are now classified
as discontinued, increased by 77.9% (-14.8% based on RUB). The LfL
performance was -9.8% as we faced a strong comparable period while
operating in a difficult geo-political and economic environment. As
previously announced, the Group is considering various options
which may include a divestment of its Russian operations. Whilst
work on a potential transaction is ongoing, there can be no
certainty as to the outcome. In the meantime, the Group continues
to limit investment in Russia and remains focused on optimising the
existing store coverage. Following the closure of 29 stores over
the course of 2022, the number of Russian stores stood at 159 as of
31 December 2022.
Delivery Channel Mix and Online LfL growth
The following table shows the Group's delivery system sales,
analysed by ordering channel and by the Group's two largest
countries in which it operates, as a percentage of delivery system
sales:
For the period ended 31 December
----------------------------------------------------
2022 2021
------------------------- -------------------------
Turkey Russia* Total Turkey Russia* Total
18.2 16.9 23.3 22.3
Store % 6.1 % % % 7.1 % %
Group's online 24.8 71.0 35.6 25.2 69.1 31.4
Online platform % % % % % %
56.4 23.0 47.0 51.1 23.8 46.0
Aggregator % % % % % %
81.2 93.9 82.7 76.3 92.9 77.4
Total online % % % % % %
0.4 0.4
Call centre 0.6 % - % % - 0.3 %
Total 100% 100% 100% 100% 100% 100%
* Discontinued operations
The following table shows the Group's online LfL growth, broken
down by the Group's two largest countries in which it operates, for
the periods ended 31 December 2022 and 2021:
Group online system sales (after IAS 29) (pre-IAS 29)
LfL growth
2022 2021 2022 2021
Turkey -2.8% 45.2% 67.9% 73.3%
Russia (discontinued operations,
based on RUB) -9.5% 12.4% -9.5% 12.4%
---------------------------------- ------------- ------------ ------- ------
Online delivery system sales as a share of delivery system sales
in Turkey reached 81.2% for the period, which represents almost
five percentage point increase on a year-on-year basis. This
performance was aided also by an increase in volumes through the
aggregators.
Financial Review
For the period ended
31 December
-----------------------
2022 2021 Change
----------- ---------- -------
(in millions of TRY)
Revenue 2,220 2,063 7.6%
Cost of sales (1,396) (1,268) 10.1%
Gross Profit 823 794 3.6%
General administrative expenses (282) (263) 7.2%
Marketing and selling expenses (347) (343) 1.1%
Other operating income /(expenses),
net (5.7) 7.2 n.m.
Operating profit 189 196 -3.6%
Foreign exchange gains/(losses) 85 50 71.7%
Financial income 110 54 104.8%
Financial expense (240) (133) 81.1%
Monetary profit / (loss) 47 49 -2.4%
Profit/(Loss) before income
tax 191 215 -11.2%
Tax expense 11 (81) n.m.
Profit/(Loss) after tax, from
continuing operations 202 134 50.5%
Loss from discontinued operations (211) (71) 197.2%
(Loss) / Profit for the period (9) 63 n.m.
Turkey adjusted EBITDA 337 313 7.5%
Adjusted EBITDA 311 296 5.3%
Adjusted net income (from
continuing operations) 214 143 50%
Revenue
Group revenue grew by 7.6% to TRY 2,220 million on inflation
adjusted basis.
Adjusted EBITDA
Adjusted EBITDA, which now excludes Russia, was TRY 311 million,
a year-on-year increase of 5.3%. Adjusted EBITDA of Turkey, which
includes the Azerbaijani and Georgian businesses along with COFFY,
realized at TRY 336 million which demonstrated 7.5% year-on-year
increase. Please also note that adjusted EBITDA for the Russian
segment, which is now a discontinued operation, for the period was
TRY 2 million.
For the period ended 31 December 2022, the adjusted EBITDA
margin as a percentage of revenues was 14% compared to 14.3% over
the same period in 2021. Unprecedented increases in food costs
across the board and higher personnel expenses were the main
negative factors that weakened the profitability in 2022.
Meanwhile, strong sales performance creating operating leverage
through the system despite the above-mentioned cost pressure. The
Group took the advantage of its robust purchasing power and
built-up additional inventory during the period to combat with
elevated food costs.
Adjusted Net Income
For the period ended 31 December 2022, adjusted net income from
continuing operations was TRY 214 million. The growth in revenue
and adjusted EBITDA as well as the foreign exchange gains due to
the devaluation of the TRY against the RUB were the main reasons
for the return to profitability. On the other hand, discontinued
operation loss was TRY 211 million due to non-cash write-offs
driven by accounting treatment to the Russian business.
Capital expenditure and Cash conversion
The Group incurred TRY 82 million of capital expenditure for the
continuing operations in the period ended 31 December 2022. Cash
conversion, defined as (adjusted EBITDA [excluding IFRS 16 impact]
- capital expenditure) / (adjusted EBITDA [excluding IFRS 16
impact]) for the period was 70% (2021: 74%) for the Group
(continuing operations).
Adjusted net debt and leverage
The Group's adjusted net debt, excluding discontinued Russia
financials, as of 31 December 2022 was TRY 562 million, staying
flat compared to the inflation adjusted net debt of end-2021.
Including the Russian business, this equates to TRY 909 million net
debt.
The Group's leverage ratio (defined as adjusted net
debt/adjusted EBITDA) based on continued operations, stood at 1.8x
as of 31 December 2022 (after IAS 29) versus 1.9x at the end of
2021. Including all Russian related debt (both Sberbank loand and
lease liabilities), our leverage ratio would go up to 2.9x by the
end of 2022. Including only the Sber bank loan (for which DPEU is
the debt guarantee) to debt calculations, this equates to a 2.3x
leverage ratio, which is unchanged versus the 2021 year-end.
In an increasing rate environment, c.90% of Group's bank
borrowings had fixed rate whereas average maturity stood at 1.5
years.
The Group had TRY 360 million of cash (excluding cash of Russia)
and access to an additional banking facility of TRY 225 million as
of 31 December 2022.
Auditor's Involvement
The audit process of consolidated financial statements for the
twelve months ended 31 December 2022 has not been completed as of
the publishing date of this press release.
Forward looking statements
This press release includes forward-looking statements which
involve known and unknown risks and uncertainties, many of which
are beyond the Group's control and all of which are based on the
Directors' current beliefs and expectations about future events.
They appear in a number of places throughout this press release and
include all matters that are not historical facts and include
predictions, statements regarding the intentions, beliefs or
current expectations of the Directors or the Group concerning,
among other things, the results of operations, financial condition,
prospects, growth and strategies of the Group and the industry in
which it operates.
No assurance can be given that such future results will be
achieved; actual events or results may differ materially as a
result of risks and uncertainties facing the Group. Such risks and
uncertainties could cause actual results to vary materially from
the future results indicated, expressed, or implied in such
forward-looking statements.
Forward-looking statements contained in this press release speak
only as of the date of this press release. The Company and the
Directors expressly disclaim any obligation or undertaking to
update these forward-looking statements contained in this press
release to reflect any change in their expectations or any change
in events, conditions, or circumstances on which such statements
are based.
Appendices
Exchange Rates
For the period ended 31 December
----------------------------------------------------------
2022 2021
---------------------------- ----------------------------
Currency Period End Period Average Period End Period Average
----------- --------------- ----------- ---------------
EUR/TRY 19.882 17.356 14.682 10.423
RUB/TRY 0.258 0.249 0.173 0.119
EUR/RUB 75.655 72.151 84.070 87.188
Delivery - Take away / Eat in mix
For the period ended 31 December
----------------------------------------------------
2022 2021
------------------------- -------------------------
Turkey Russia* Total Turkey Russia* Total
Delivery 74.1% 75.2% 74.1% 78.6% 77.8% 78.3%
Take away / Eat
in 25.9% 24.8% 25.9% 21.4% 22.2% 21.7%
Total 100% 100% 100% 100% 100% 100%
* discontinued operations
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the years ended 31 December 2022 and 2021
2022 2021
-------------------------------------------------------------------------------- ------------ ------------
Revenue 2,219,703 2,062,747
Cost of sales (1,396,461) (1,268,290)
-------------------------------------------------------------------------------- ------------ ------------
Gross profit 823,242 794,457
-------------------------------------------------------------------------------- ------------ ------------
General administrative expenses (281,987) (262,616)
Marketing and selling expenses (346,550) (342,867)
Other operating income, net (5,685) 7,198
-------------------------------------------------------------------------------- ------------ ------------
Operating profit 189,020 196,172
-------------------------------------------------------------------------------- ------------ ------------
Foreign exchange income 85,518 49,805
Financial income 109,626 53,521
Financial expense (240,348) (132,740)
Monetary Gain 47,497 48,646
-------------------------------------------------------------------------------- ------------ ------------
Profit/ (loss) before income tax 191,313 215,404
-------------------------------------------------------------------------------- ------------ ------------
Tax expense 10,736 (81,165)
-------------------------------------------------------------------------------- ------------ ------------
Profit from continuing operations 202,049 134,239
Loss from discontinued operations (211,090) (71,365)
(LOSS)/PROFIT FOR THE PERIOD (9,041) 62,874
-------------------------------------------------------------------------------- ------------ ------------
Other comprehensive expense (260,057) (35,356)
Items that will not be reclassified to profit or loss
- Remeasurements of post-employment
benefit obligations, net of
tax (5,856) 124
Items that may be reclassified to profit or loss
- Currency translation differences (248,176) (70,069)
- Currency translation differences from discontinued operations (6,025) 34,589
Total comprehensive loss (269,098) 27,518
-------------------------------------------------------------------------------- ------------ --------------
Profit per share for the period attributable to equity holders of the parent
(1) (0.06) 0.43
Profit per share from continuing operations attributable to equity holders of
the parent (1) 1.39 0.92
(1) Amounts represent the basic and diluted earnings per
share.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
For the years ended 31 December 2022 and 2021
31 Dec 31 Dec
Assets 2022 2021
----------------------------------------------------------- ----- ---------- ----------
Trade receivables 16,365 21,203
Lease receivables 95,272 109,391
Right-of-use assets 98,542 218,969
Property and equipment 123,577 211,063
Intangible assets 91,970 117,291
Goodwill 234,597 251,210
Deferred tax assets 4,183 27,531
Other non-current assets 69,415 64,850
------------------------------------------------------------------ ---------- ----------
Non-current assets 733,921 1,021,508
------------------------------------------------------------------ ---------- ----------
Cash and cash equivalents 360,059 254,700
Trade receivables 297,960 385,793
Lease receivables 13,676 32,270
Inventories 238,814 223,943
Current income tax assets 45,418 -
Other current assets 162,147 169,407
------------------------------------------------------------------ ---------- ----------
Current assets 1,118,077 1,066,113
------------------------------------------------------------------ ---------- ----------
Assets held for sale 435,400 -
------------------------------------------------------------ --------------- ----------
Total assets 2,287,398 2,087,621
------------------------------------------------------------------ ---------- ----------
Equity
Paid in share capital 36,353 36,353
Share premium 441,632 441,632
Contribution from shareholders 76,604 71,715
Other reserves not to be reclassified to profit or loss
- Remeasurements of post-employment benefit obligations (11,360) (5,504)
Other reserves to be reclassified to profit or loss
- Currency translation differences (633,889) (379,688)
Retained earnings 61,366 70,407
------------------------------------------------------------------ ---------- ----------
Total equity (29,294) 234,915
------------------------------------------------------------------ ---------- ----------
Liabilities
Financial liabilities 64,923 230,196
Lease liabilities 152,422 281,692
Long-term provisions for employee benefits 13,693 6,883
Deferred tax liability - 8,362
Other non-current liabilities 154,906 118,571
------------------------------------------------------------------ ---------- ----------
Non - current liabilities 385,944 645,704
------------------------------------------------------------------ ---------- ----------
Financial liabilities 729,232 521,862
Lease liabilities 42,901 91,072
Trade payables 354,419 395,363
Current income tax liabilities - 21,003
Provisions 3,438 8,904
Other current liabilities 135,960 168,798
------------------------------------------------------------------ ---------- ----------
Current liabilities 1,265,950 1,207,002
------------------------------------------------------------------ ---------- ----------
Liabilities related to assets held for sale 664,798 -
------------------------------------------------------------ --------------- ----------
Total liabilities 2,316,692 1,852,706
------------------------------------------------------------------ ---------- ----------
Total liabilities and equity 2,287,398 2,087,621
------------------------------------------------------------------ ---------- ----------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
FR FIFVESDIFLIV
(END) Dow Jones Newswires
April 12, 2023 02:00 ET (06:00 GMT)
Dp Eurasia N.v (LSE:DPEU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Dp Eurasia N.v (LSE:DPEU)
Historical Stock Chart
From Jul 2023 to Jul 2024
