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EL Sewedy Electric Company (An Egyptian Joint Stock Company)

Consolidated financial statements For the year ended 31 December 2013

and auditors report

Translated trom Arabic Auditors Report

To the shareholders of El Sewedy Electric Company (An Egyptian joint stock company)

Report on the Financial Statements

We have audited the accompanying consolidated financial statements of El Sewedy Electric Company (an Egyptian Joint Stock Company) which comprise the consolidated balance sheet as at 31 December 2013 and the consolidated income statement statement of changes in equity and statement of cash flows for the financial year then ended and a summary of significant accounting policies and other explanatory notes

Managements Responsibility for the Financial Statements

These financial statements are the responsibility of Companys management Management is responsible for the preparation and fair presentation of these financial statements in accordance with the Egyptian Accounting Standards and in the light of the prevailing Egyptian laws management responsibility includes designing implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error management responsibility also includes selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances

Auditors Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit Except as discussed in the basis for qualified opinion we conducted our audit in accordance with the Egyptian Standards on Auditing and in the light of the prevailing Egyptian laws Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements The procedures selected depend on the auditors judgment including the assessment of the risks of material misstatement of the financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entitys preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entitys internal control An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management as well as evaluating the overall presentation of the financial statements

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements

Basis for qualified Opinion

We have not obtained confirmation of a balance due to a related party amounted to LE 224 million as of 31 December 2013 Consequently we were unable to perform other audit procedures to ensure the completeness and accuracy of the balance due

Qualified Opinion

In our opinion except for the effect of such adjustments if any as might have been determined to be necessary had we obtained the confirmation described in the basis for qualified opinion paragraph the consolidated financial statements referred to above present fairly in all material respects the consolidated financial position of EI Sewedy Electric Company as of 31 December 2013 and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with the Egyptian Accounting Standards and the Egyptian laws and regulations relating to the preparation of these consolidated financial statements

Emphasis ofmatter

Without further qualifying our opinion as discussed in Note No [30] to the consolidated financial statements we draw attention to the uncertainty that cast significant doubt about the ability of one of the group subsidiaries that supply wind power turbines to generate cash flows because of the low probability of obtaining new contracts in the future and the uncertainty in executing the current major contract consequently the management has recorded an impairment of the patents and the goodwill recognized at the acquisition of the subsidiary amounted to LE 1129 million and LE 486 million respectively as of 31 December 2013 in the consolidated financial statements The total value of the consolidated assets of this subsidiary amounted to LE 353 million The ultimate outcome of the recoverability of these assets cannot be presently determined

Report on Other Legal and Regulatory Requirements

The consolidated financial information included in the Board of Directors report prepared in accordance with Law No 159 of 1981 and its executive regulations is in agreement with the Companys books of account

KPMG Hazem Hassan Public Accountants and Consultants

Cairo 31 March 2014

Translated from Arabic

EL Sewedy Electric Company ( An Egyptian Joint Stock Company)

consolidated balance sbeet As of 31 December 2013

Assets

Long term assets

Fixed assets

Projeet Wlder progress

Investments available for sale

Investments in associates

Debit balances

Intangible assets

Deferred tax assets

Total long term assets

Current assets

Inventories

Trade notes and other receivables

Due from related parties

Investment fund I treasury bills

Banks and cash in hand

Assets held for sale

Total current assets

Current liabilities

Banks facilities and overdraft

Loans

Notes payable due to banks

Trade notes and other payables

Due to related parties

Provisions

Total current liabilities

Working capital

Total investments

These investments to be financed as follows

Sbarebolders Equity

Issued and paid capital

Own shares

Reserves

Increase in the net asselS of the acquired subsidiaries over the consideration paid for the investment

Retained earnings

Net profilS for the periodyear

Foreign exchange differences resulted from foreign entities translation

Total parents sbarebolders equity

Minority interest

Total equity

Long term liabilities

Loans

Deferred tax liabilities

Other liabilities

Total long term liabilities

bull The accompanying notes are an integral part of these interim consolidated fmancial statements

Chief Financial Officer

Mr Amr Mohamed Labib

Auditors report attached

-1middot

Note No

(3-3)laquo6)

(3-3)laquo7)

(3-5)laquo8)

(3-1)

(3-4gt(9)

(3-7)(30)

(3-19)(20)

(3-8)laquo10)

(3-4)(11)

(28)

(3-6)laquo12)

(13)

(3-9)

(3-12HI4)

(3-12)0(15)

(3-4)lt(16)

(28)

(311)laquo17)

(18)

(19)

(3-1)

(3middot12)laquo15)

(3middot19)laquo20)

(21)

31-12-13 311212012

LE LE

3215401911 3225641335

135091257 188771 632

to 266 200 10 000 000

12693283 12 866678

72 257554 21118230

84819531 244845677

44778613 32018331

3575308349 3735261883

3699178 762 3439641354

5290660158 4820077 880

192873 358 180466659

182700369 132725425

1346173871 I 191229897

72 296777 71 276462

10 783 883 295 9835417677

4009 828259 3333 560718

823770990 863657387

84473968 397264375

3 105580862 2727574815

172680187 120877 600

219829699 90164949

8416163965 7533099844

2367719330 2302317833

5943027679 6037579716

2234180000 2234180000

( 1422160) ( 1 422 160)

149535197 134697576

578908660 578908660

1900996805 2002 185741

96 SOl 795 116540824

(87612 698)

4871087599 4833365098

415952466 412433987

5287040065 5245799085

504689446 589204561

101 375596 124300415

49922572 78275655

655987614 791780631

5943027679 6037579716

Managing Director

Eng Ahmed Ahmed Sadek

Chairman

Mr Sadek Ahmed Elsewedy

Translated from Arabic EL Sewedy Electric Company

( An Egyptian Joint Stock Company) Consolidated income statement

For the financial year ended 31 December 2013

2013 2012 Note No LE LE

Operational revenues (3-15) 15 098 992 917 14512307147

Operational costs (3-17) (12 976874645) (12672 143938)

Inventory write down (57242378) (8647286)

Gross profits 2064875894 1831515923

Other operating income (23) 71 248288 59075533

Selling and distribution expenses (3-17) ( 468 843 437) ( 407 679 876)

Administrative expenses (3-17) ( 594 069 521) (566040904)

Other operating expenses (24) ( 414383222) (218 172 607)

Operating profits 658828002 698698069

Financing income 24417366 48048786

Financing costs ( 446 III 733) ( 523 308 823)

Net financing costs (25) ( 421 694 367) (475260037)

Revenues of Investments available for sale 3469485 4887415

Net profits for the period before tax 240603120 228325447

Income tax

Current income tax (3-19) ( 136 658 599) (74605976)

Deferred income tax (3-19) 30584122 (7783756)

Net profits for the period after tax 134528643 145935715

Attributable to

Equity holders of the holding company 96501 795 116540824

Minority interest 38026848 29394891

134528643 145935715

Earnings per share (3-20)laquo33) 043 052

The accompanying notes are an integral part of these Consolidated financial statement

-2shy

Translatedfrom Arabic

EL Sewedy Electric Com~any

(An Egyptian Joint Stock Company) Consolidated changes in Equitys statements

For the financial year ended 31 December 2013 Increase in

the net assets Foreign exchange

Issued and paid capital Own shares Legal reserve General reserve

ofthe acquired

subsidiaries

Retained earnmgs

Profit attributable to the holding

for the periodlyear

differences resulted from

foreign entities

Total parents shareholders equity

Minority interest Total share

holders equity

over the translation consideration

LE LE LE LE LE LE LE LE LE LE LE

Balance as of 31 December 2011 2234180000 ( I 422 160) 78252077 43816730 578908660 1798202186 509 118697 ( 80 303 307) 5 160752883 413732744 5574485627

Transferred to retained earning 509118697 (509118697)

Transferred to Legal Reserve 12628769 ( 12628769)

Minority share in subsidiaries profit distribution (27 661388) (27661388)

Minority share in capital increase of subsidiaries during the year 5703 140 5703 140

Eliminated part of min(Jrilies interests for some subsidiaries ( 8 145033) (8 145033)

Foreign exchange differences from foreign entities translation ( 151422236) ( 151 422236) ( 151 422236)

Adjustments to the retained earnings of some subsidaries Companies (5199613) (5199613) ( 590367) (5789980)

Cash Dividends to Shareholders (Profits 2011) (223 418 000) (223418000) (223418000)

Dividends to employees ( 63 888760) ( 63 888 760) (63 888760)

Net profits for the year 116540824 116540824 29394891 145935715

Balance as of31 December 2012 2234180000 ( 1422160) 90880846 43 816 730 578908660 2002185741 116540824 (231 725543) 4 833 365 098 412433987 5 245 799 085

Transferred to retained earnings 116540824 ( 116540824)

Transffered to Legal Reserve 14837621 ( 14837621)

Minority share in subsidiaries profit distribution (30689906) (30689906)

Minority share in capital increase of subsidiaries or acquired subsidiaries during the year

618247 618247

Foreign exchange differences from foreign entities translation 144112845 144 112845 144112845

Adjustments to the retained earnings ( 42 363 291) (42363291) (4436709) (46800000)

Cash Divideneds to shareholders (Profits 2012) ( III 709000) ( II I 709 000) ( III 709 000)

Dividends to employees (48819848) (48819848) (48819848)

Net profits for the year 96501 795 96501 795 38026847 134528642

Balance as of 31 December 2013 2234180000 ( 1 422 160) 105718467 43816730 578908660 1900996805 96501 795 (87612698) 4871 087599 415952466 5287040065

Adjustments to retained earnings rqlresents a retroactively adjustments related to percentage ofoolietion calculatIOn in a subsidiary ahmst ofLE I R million in addition to change In depreciation estml8te in aoother subsidiary ahmst ofLE 14 nullion

bull The accompanying nltltes are an integral part of these consolidated fmancial statements

-3shy


El Sewedy Electric Company

( An Egyptian Joint Stock Company)

Consolidated cash flows statement

For the year ended 31 December 2013

2012 LE

228325447

328716611

10816110

192019223

475260037

( 8785568)

327563

4284000

(4887415)

1226076008

( 397 070 025)

114005444

( 144 155 125)

97563733

896420035

( 188 591 232)

(26618568)

44 152599

268726898

97669697

(27 661388) 5703 140

( 799 935 029)

(223418000)

(1045311 277)

(51221545)

1242451442

1191229897

(15724154)

1175505743

Cash flows from operating activities

Net profits for the year before tax

Adjustments to reconcile net profits to net cash provided by operating activities

Depreciation

Amortization

Provisions and receivable impairment

Net financing cost

Capital loss (gain)

Investment loss in associate

Impairment in the value of the patent and goodwill

(Impairment recovery) Impairment in investment avialable for sale

Gain from sale investments available for sale

Income from investments available for sale Operating profit before changes in working capital

Change in trade notes and other receivables

Change in inventories

Change in related parties

Change in trade notes and other payables

Cash flows from investing activities

Acquisition of fixed assets

Payment under investment in subsidiaries account Payments for the acquisition of intangible assets

Payments for investment in subsidiaries net of cash at acquisition

Proceeds from sale of investments available for sale

Payment for available for sale investment

Proceeds from sale of fixed assets and projects in progress

Net proceeds from treasury bills and investment fund

2013

LE

240603120

364 040414

23 132524

154767680

421694366

76166

628 874

161617470

(4284000)

(3149131) (3469485)

1355657998

( 548 073 126)

(258414884)

38359693

( 256 904 372)

Net cash provided by operating activities 330625309

(30689906) 618247

239075623

( III 709 000)

( 236 664 178)

( 472 911) ( 14700379)

(20589454)

7433 131

( 266200)

42258636

(49974944)

Net cash flows (used in) provided by investing activities ( 272 976 299)

Cash flows from financing activities

Dividends paid to minority from subsidaries Minorities share in subsidaries capital during the year

Proceeds ( payments) of loans bank facilities and overdraft

Dividends paid to shareholders

Net cash flows provided by (used in) financing activities 97294964

Net change in cash and banks 154943974

Cash and banks at the beginning of the year 1191229897

Cash and banks at the end of the year 1346173871 Restricted cash (13) (24216901)

Net cash and cash equivalents at the end ofthe year 1321956970

The accompanying notes are an integral part of these consolidated financial statements

-4shy

Translated From Arabic

EL Sewedy Electric Company Notes to the interim consolidated financial statements - 31 December 2013

1 Company background

El Sewedy Electric company previously El Sewedy Cables is an Egyptian Joint Stock Company established under the Investment Incentives and Guarantees Law No 8 of 1997 and was registered in the commercial registration under No 14584 on 1 June 2005

The Companys Extra-ordinary General Assembly held on 1942010 decided to change the company name from EL Sewedy Cables to EL Sewedy Electric This change was authenticated in the company commercial register on 4102010 The company has obtained the approval for the change of its name from Misr for Central Clearing Depository and Registry Company on 311lO2010 and changed the name in the Egyptian Stock Exchange on 31112010

The Companys purpose is to establish and operates a production facility for power cables transformers terminators joint accessories copper and aluminum terminators either coated or not coated production In addition to designing building managing operating and maintaining power generation units and power nets The duration of the company is 25 years from 1162005 (the date of its registration in the commercial register)

The consolidated financial statement includes the holding company and its subsidiaries The group

2 Basis of preparation Statement of compliance

The consolidated financial statements have been prepared in accordance with Egyptian Accounting Standards and the Egyptian laws and regulations

The consolidated financial statements were approved by the Board of Directors on 31 March 2013

Basis of measurement

The financial statements have been prepared on the historical cost basis except for financial derivatives measured at fair value and available for sale investments The methods used to measure fair values are discussed further in note No 34 below

Functional and presentation currency

These consolidated financial statements are presented in Egyptian Pound which is the companys functional currency

Use of estimates and judgments

The preparation of the [mancial statements in conformity with Egyptian Accounting Standards requires management to make judgments estimates and assumptions that affect the application of accounting polices and the reported amounts of assets liabilities income and expenses Estimates and underlying assumptions are reviewed on an ongoing basis Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected

In particular information about significant areas of estimation uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the [mandaI statements is included in the following notes

-5shy


EL Sewedy Electric company Notes to the consoHdated financial statements - 31 December 2013

Note (6) Fixed assets Note (17) - Provisions Note (20) - Deferred taxes Note (22) - Contract revenues Note (30) Business combination Note (31) Shares based payment

Note (34) - Valuation offmancial instruments

3 Significant accounting poHcies The accounting policies set out below have been applied consistently to all years presented in these consolidated fmancial statements and have been applied consistently by Group entities

3-1 Basis of consolidation

Subsidiaries Subsidiaries are entities controlled by the Group The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases The accounting policies of subsidiaries have been changed when necessary to align them with the policies adopted by the Group

Acquisitions from entities under common control Business combinations arising from transfers of interests in entities that are under the control of the shareholders that controls the Group are accounted for as of the acquisition date The assets and liabilities acquired are recognized at the carrying amounts recognized previously in the Groups controlling shareholders consolidated financial statements The components of equity of the acquired entities are added to the same components within the Group equity and any gain loss arising is recognized directly in equity

Loss of control Upon loss of control the group derecognizes the assets and liabilities of the subsidiary any minority interests and other components of equity related to the subsidiary Any surplus or deficit is recognized in profit or loss If the group retains any interest in the previous subsidiary its accounted for subsequently as an equity investee or an available for sale financial asset depending on the level of influence retained

Investment in associates and jointly controlled entities Associates are those entities in which the Group has significant influence but not control over the financial and operating policies Significant influence is presumed to exist when the Group holds between 20 and 50 percent of the voting power of another entity Joint controlled are those entities over whose activities the Group has joint control Investment in associates is initially recorded at cost using equity method to account for this investment

Transactions eliminated on consolidation Intra-group balances and any unrealized income and expenses ansmg from intra-group transactions are eliminated in preparing the consolidated fmancial statements Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the group interest in the investee Unrealized losses are eliminated in the same way as unrealized gains but only to the extent that there is no evidence of impairment

- 6shy


EL Sewedy Electric company Notes to the consolidated financial statements - 31 December 2013

3-2 Foreign currency

Foreign currency transactions

Transactions in foreign currencies are translated to the respective functional currencies of Group entities at exchange rates at the dates of the transactions Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency at the exchange rate at that date Foreign currency differences arising on retranslation are recognised in the consolidated profit or loss

Assets and liabilities of the non-cash nature are translated using the exchange rate prevailing at the date of the transaction

Foreign operations

The assets and liabilities of foreign operations are translated to Egyptian Pound at exchange rates at the reporting date The income and expenses of foreign operations are translated to Egyptian Pound at exchange rates at the dates of the transactions Foreign currency differences arising on retranslation are recognised in a separate item under the equity in the consolidated balance sheet

3-3 Fixed assets

Recognition amp measurement Items of fixed assets are measured at cost less accumulated depreciation and accumulated impairment losses Cost includes expenditure that is directly attributable to the acquisition of the asset The cost of self constructed assets includes the cost of materials and direct labor any others costs directly attributable to bringing the asset to a working conditions for its intended use When parts of an item of fixed assets have different useful lives they are accounted for as separate items of fixed assets

Subsequent costs The cost of replacing part of an item of property plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group and its cost can be measured reliably The carrying amount of the replaced part is derecognised The costs of the day-to-day servicing of property plant and equipment are recognised in the consolidated profit or loss as incurred

Project under progress Project under progress are added to fixed assets and depreciated when it become ready for its intended use

Depreciation Depreciation is recognised in profit or loss on a straight-line basis over the estimated useful lives of each part of an item of property plant and equipment The estimated useful lives for the current and comparative years are as follows

Buildings 8 -50 years Machinery and equipment 5-10 years Furniture 4 -17 years Vehicles 5-8 years

-7shy



Machinery and equipments related to wind activity are amortized according to units of production depreciation method Depreciation methods useful lives and residual values are reviewed at each reporting date

Capital lease Rental expenses of capital lease in-addition to the operating costs such as maintenance and repair of the leased assets are charged to the income statement on a straight line basis over the period of lease In case of purchasing the leased assets at the end of the contract using the contract bargain purchase option these assets should be recorded as fixed assets with the bargain option amount agreed in the lease contract and are depreciated over the remaining estimated useful life according to the applied depreciation policy

3-4 Financial instruments Non-derivative financial instruments Non-derivative financial instruments comprise investments in equity and debt securities trade and other receivables cash and cash equivalents loans and borrowings and trade and other payables

The financial assets and liabilities are recognised in the balance sheet when the company and its subsidiaries become side in the financial instruments agreement The initial recognition with the financial instruments by its fair value and for trade and other receivables and trade and other payables by its nominal value Cash and cash equivalents comprise cash balances and call deposits for a period more than three months which form an integral part of the Groups cash management are included as a component of cash and cash equivalents for the purpose ofthe statement of cash flows

Derivative financial instruments The Group doesnt hold derivative financial instruments for speculative purposes The hedged instrument is recognised initially at fair value attributable transaction costs are recognised in profit or loss when incurred Subsequent to initial recognition derivatives are measured at fair value

3-5 A vailable-for-sale financial assets The Groups investments in equity securities are classified as available-for-sale financial assets Subsequent to initial recognition they are measured at fair value (if quoted) and changes therein other than impairment losses and foreign exchange gains and losses on available-for-sale monetary items are recognized directly in equity When an investment is derecognized the cumulative gain or loss in equity is transferred to income statement Investments which are not listed at stock exchanges are measured at historical value after reducing any impairment losses

3-6 Investment in funds and treasury bills

3-6-1 Investment in funds

Investments in funds are recorded according to its latest announced recoverable value

- 8 shy


EL Sewedy Electric company Notes to the consolidated financial statements 31 December 2013

3-6-2 Investment in treasury bills

Investment in treasury bills is recorded at its purchase cost less than the interest not due Treasury bills are stated at the balance sheet at its nominal value after deducting the balance of interest not due There is no losses from the impairment of the value of these bills because its is considered governmental with Central Bank of Egypt discount rate

3-7 Other assets

Goodwill Goodwill represents the excess of the cost of the acquisition over the Groups interest in the net fair value of identifiable assets liabilities and contingent liabilities of the acquirer When the excess is negative it is recognized immediately in profit or loss

Intangible assets Intangible assets that are acquired by the Group which have finite useful lives are measured at cost less accumulated amortization and accumulated impairment losses Amortization is recognized in the profit and loss on a straight line basis over the estimated useful lives of intangible assets other than goodwill from the date they are available for use The estimated useful life is as follows Patents 20 years Amortization methods useful lives and residual values are reviewed at each reporting date and adjusted if appropriate

3-8 Inventories

Inventories are valued at the lower of cost and net realizable value Net realizable value is the estimated selling price in the normal course of business minus the estimated cost for completion and any selling costs Net realizable value of the quantity of inventory held to satisfy firm sales is based on the contract price If the sales are for less than the inventory quantities held the net realizable value of the excess is based on general selling price Provision arises from firm sales contracts in excess of inventory quantities held or from firm purchase contracts Cost of raw materials is determined using the weighted average method In case of finished goods and work in process cost includes direct material and direct labor cost and an appropriate share of production cost

3-9 Assets held for sale

Non-current assets or disposal groups comprising assets and liabilities are classified as held-forshysale if it is highly probable that they will be recovered primarily through sale or distribution rather than through continuing use Immediately before classification as held for sale the assets or components of a disposal group are premeasured in accordance with the groups other accounting polices Impairment losses on initial classifications as held for sale and subsequent gains and losses on remeasurement are recognized in profit or loss Gains are not recognized in excess of any cumulative impairment loss Once classified as held for sale intangibles assets and property plant and equipment are no longer amortized or depreciated and any equity accounted investee is no longer equity accounted

- 9shy



3-10 Impairment

Financial assets A financial asset is assessed at each reporting date to detennine whether there is any objective evidence that it is impaired A financial asset is considered to be impaired if objective evidence indicates that one or more events have had a negative effect on the estimated future cash flows of that asset that can be estimated reliably Impainnent loss in respect of a financial asset measured at amortized cost is calculated as the difference between the carrying amount and the present value of the estimated future cash flows discounted at the assets original effective interest rate Impainnent losses on available for sale financial assets are recognized by reclassifying the losses accumulated in the fair value reserve in equity to profit and loss Individually significant financial assets are tested for impainnent on an individual basis All impainnent losses are recognised in profit or loss Financial assets that are not individually significant are collectively assessed for impainnent by grouping them together according to their similar risk characteristics An impainnent loss is reversed if the reversal can be related objectively to an event occurring after the impainnent loss was recognized

Non-financial assets

The carrying amounts of the Groups non-financial assets (other than inventories and deferred tax assets) are reviewed at each reporting date to detennine whether there is any indication of impainnent If any such indication exists then the assets recoverable amount is estimated The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to selL An impainnent loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its estimated recoverable amount Impainnent losses are recognised in profit or loss An impainnent loss is reversed if there has been a change in the estimates used to detennine the recoverable amount An impainnent loss is reversed only to the extent that the assets carrying amount does not exceed the carrying amount that would have been detennined net of depreciation or amortisation if no impairment loss had been recognised

3-11 Provisions

Provisions are recognized when the Group has a legal or constructive obligation as a result of past event and it is probable that an outflow of economic benefits will be required to settle the obligation and the liability can be reliably estimated Provisions are detennined by discounting the expected future cash flows at a pre-tax rate that reflects current market adjustments of the time value of money and the risks specific to the liability The provisions are reviewed at each balance sheet date and amended (when necessary) to represent the best current estimate

3-12 Interest bearing borrowings

Interest bearing borrowings are recognized initially at fair value less attributable transaction costs Subsequent to initial recognition interest bearing borrowings are stated at amortized cost with any difference between cost and redemption value been recognized over the period of borrowing on an effective interest basis

- 10 shy



Interest and commissions on credit facilities and loans that are directly attributable to the acquisition construction or production of qualifying assets are capitalized as part of the cost of those assets till the date of availability for use All borrowing costs that do not meet the capitalization criteria are recognized as expense in the consolidated income statement as incurred

3-13 Dividends

Dividends are recognized as a liability in the financial period III which the dividends are approved by the shareholders general meeting

3-14 Own shares

When share capital recognized as equity is repurchased the amount of the consideration paid including directly attributable costs is recognized as a deduction from equity Gain or losses arising from sale of own shares are included in equity in the consolidated financial statements

3-15 Recognition of revenue Sales revenue Revenue from sale of goods is measured at the fair value of the consideration received or receivable net of returns and allowances trade discounts and volume rebates Revenue is recognized when the significant risks and rewards of ownership have been transferred to the buyer recovery of the consideration is probable the associated costs and possible return of goods can be estimated reliably and there is no continuing management involvement with the goods Risk and rewards of ownership are transferred when goods are received at the customers warehouse however for some international shipments transfer occurs upon loading the goods onto the relevant carrier

Revenue of construction contracts Revenues from construction contracts are recognized using the percentage-of-completion method The percentage-of-completion is measured by correlating costs incurred to date to estimated total costs for each contract

Contract costs include all direct material equipment labor subcontract and those indirect costs related to contract performance such as indirect labor and maintenance costs General and administrative costs allocable to particular contracts are charged to contract costs All other general and administrative costs are charged to expense as incurred Changes in job performance job conditions estimated profitability and final contract settlements may result in revisions to costs and income and are recognized in the period in which the facts requiring such revisions become known

Provision for estimated losses including allocable general and administrative expenses on uncompleted contracts is made in the period in which such losses are determined Claims for additional contract revenue are recognized when realization is assured and the amount can be reasonably determined

Investment income Income from available-for-sale investments are recognized when the Groups right to the income is established

- 11 shy



Credit interest Credit interest is recognized in the income statements according to the effective interest rate method

3-16 Segment reporting A segment is a distinguishable component of the Group that is engaged either in providing related products or services (business segment) or in providing products or services within a particular economic environment (geographical segment) which is subject to risks and rewards that are different from those of other segments The Groups primary format for segment reporting is based on business segments

3-17 Expenses Operating expenses selling and distribution general administrative expenses and other expenses are recognized using the accrual basis of accounting and as such are recognized in the income statement as incurred

3-18 Employees benefits

Social Insurance Scheme The Group contributes in the governmental social insurance system for the benefits of its employees according to the social insurance Law No 79 of 1975 and its amendments The Groups contributions are recognized in income statement using the accrual basis of accounting The Groups obligation in respect of employees pensions is confined to the amount of the aforementioned contributions

Share based payments The fair value of options granted to employees is recognized as expense with a corresponding increase in equity over the period that the employees becomes unconditionally entitled to the options Any changes in fair value is recognized as employees salaries in the consolidated income statement

3-19 Income tax Income tax in the parent and its subsidiaries includes income tax for the current period and the deferred tax Income tax is recognized in the consolidated income statement except for the

income tax related to the equity items which are stated directly in the equity in the consolidated financial statements Income tax is recognized on net taxable income using tax rates enacted at the consolidated financial statements date and in addition to any tax differences related to the previous years Deferred income tax is provided using the balance sheet liability method providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities using tax rates enacted or substantively enacted at the consolidated balance sheet date A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realized

- 12 shy



3-20 Earnings per share

Basic EPS is calculated by dividing the profit or loss attributable to the ordinary shareholders of the company by the weighted average number of ordinary shares outstanding during the year

4 Fair Value

A number of the group accounting policies and disclosures require the determination of fair value for both financial and non financial assets and liabilities Fair values have been determined for measurement and or disclosure purposes based on the following methods shy

Fixed assets The fair value of the fixed assets recognised as a result of a business combination is based on market values The market value of fixed assets is the estimated amount for which an asset could be exchanged on the date of valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably prudently and without compulsion

Inventories The fair value of inventories acquired in a business combination is determined based on the estimated selling price in the ordinary course of business less estimated costs of completion and sale and a reasonable profit margin based on the effort required to complete and sell the inventories

Intangible assets The fair value of patents acquired in a business combination is based on the discounted estimated royalty payments that have been avoided as a result of the patent or trade mark being owed

Investments in equity instrument Fair values is based on quoted market for listed available foe sale security at consolidated balance sheet date except for the unquoted equity security to be valued by using discounted cash flows method

Receivables The fair value receivables is estimated as the present value of future cash flows discounted at the market rate of interest at the reporting period

5 Financial risk management

The Group has exposure to the following risks from its use of fmancial instruments p Credit risk - Liquidity risk - Market risk

This note presents information about the Groups exposure to each of the above risks the Groups objectives policies and processes for measuring and managing risk and the Groups management of capital Further quantitative disclosures are included throughout these consolidated fmancial statements The Board of Directors has overall responsibility for the establishment and oversight of the Groups risk management framework The Board is responsible for developing and monitoring the Groups risk management policies

- 13 shy



The Groups risk management policies are established to identify and analyse the risks faced by the Group to set appropriate risk limits and controls and to monitor risks and adherence to limits Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Groups activities The Group through its training and management standards and procedures aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations Internal Audit undertakes both regular and ad hoc reviews of risk management controls and procedures the results of which are reported to the board of directors

Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations and arises principally from the Groups receivables from customers and investment securities

Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due The Groups approach to managing liquidity is to ensure as far as possible that it will always have sufficient liquidity to meet its liabilities when due under both normal and stressed conditions without incurring unacceptable losses or risking damage to the Groups reputation

Market risk Market risk is the risk that changes in market prices such as foreign exchange rates interest rates and equity prices will affect the Groups income or the value of its holdings of financial instruments The objective of market risk management is to manage and control market risk exposures within acceptable parameters while optimising the return

Currency risk The Group is exposed to currency risk on sales purchases and borrowings that are denominated in a currency other than the respective functional currencies of Group entities primarily the euro and us Dollars

Interest rate risk All the Group investments and borrowing are based on Libor rates or Egypt Central Bank rates plus a fixed percentage to reduce risk

- 14 shy

Translated trom Arabic EI Sewedy Electric Company Notes to the consolidated financial statements -31 December 2013

6 Fixed Assets

Cost

Balance as of 112013

Additions

Additions from acqisition of suhsidiaries

Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920

Machienarles ampequipments

LE

2303784338

102889823

25506965

Furniture amp office supplies

LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324

leasehold hnprovments

LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315

Addit ions from project under progress 37625248 64 726 380 301 123 319289 24991492 127963532

Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation

Accumulated depreciation as of 1112013

Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335

Accumulated depreciation as of 311220 13 234782154 899892181 66593660 89164698 20145829 1310 578 522

Net carrying amount as of 311122013 357923042 1211 082 195 1551635018 41069541 35676230 18015885 3215401 911

Net carrying amount as of 311122012 358432632 1178713152 1598007078 47706733 40276377 2505363 3225641335

-15shy



7 Projects under progress

Projects under progress as of 31 December 2013 represent the companys new projects and expansions in existing plants in Saudi Arabia Qatar Algeria and Sudan of LE 55 million Transformer plant additions in Egypt ofLE 15 million fiber optics and special cables ofLE 32 million machineries and equipments under progress for subsidiaries expansions in Egypt of LE 16 million and the remaining balance represents the expansions cost to increase the production capacity in Egypt and other countries in which the company operates

8 Investments available for sale

311122013 311122012 LE LE

(1 000 000 shares represent 10 of Kahromica Companys share capital- An Egyptian Joint Stock Company) 10000000 10000000

(300 shares represent 3 of 3W network share capital- An Egyptian Joint Stock Company)

32760

156000 shares ofEI Moasher company in Sudan 233440

10266200 10000000

9 Other Long Term receivables

31122013 31122012 LE LE

Due from clients (construction) 72 257554 21 118230

72 257554 21118230

10 Inventories

311122013 311122012 LE LE

Raw materials and consumables 1 210057151 1342770740 Spare parts 128439684 121 591 873 Work in progress 619660101 436726722 Finished goods 1348010583 1234511 708 Goods in transit 393011243 304040311

3699178762 3439641354

Some of inventories items are recorded according to its net realizable value The difference between the book value of these items and its net realizable value is LE 65323388 at 31 December 2013 (LE 80 301 097 at 31 December 2012) Total inventory write down charged to the income statement for the year ended 31 December 2013 is LE 572 million (LE 86 million for the year ended 31 December 2012)

16



11 Trade notes and other receivables

31122013 LE

3111212012 LE

Trade receivables Notes receivables Due from clients (constructions) Other receivables

3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880

Trade notes and other receivables are recorded after deducting impairment losses of LE 314 711 178 at 31 December 20l3 (LE 256 906536 at 31 December 2012)

Trade notes and other receivables include advance payments to suppliers of LE 152 million Letters of credit margin and deposits to others of LE 350 million sales tax of LE 80 million prepaid expenses of LE 25 million dividends to employees of LE 62 million advance payments under corporate income tax of LE 43 million and withholding tax of LE 19 million

12 Investment fund 1treasury bills

311122013 311122012 LE LE

Investment funds treasury bills 182700369 l32 725 425 182700369 132725425

-This item includes investment in funds amounted to LE486 558 at 31 December 2013 (LE 750221 at 31 December 2012) The returns on these investment recorded in the consolidated income statement Nil (LE 562 192 as of 31 December 2012)

-The accrued interest on investment of treasury bills amounted to LE 188 million at 31 December 2013 (LE 319 million at 31 December 2012)The interest rate range is between 7 and 1394

13 Banks and cash in hand

311122013 311122012 LE LE

Banks - Time deposits () 59077 212 55226809 Banks - Current accounts ( ) 1282445197 1125997394 Cash in hand 4651462 10005694

1346173 1191229897

() Banks- Time deposits include an amount ofLE 8 050 712 at 31 December 2013 blocked as a security for credit facilities letters of guarantee and letters of credit (LE 1 117500 at 31 December 2012)

() Banks - Current accounts include an amount of LE 16 166 189 at 31 December 2013 blocked as a security for credit facilities (LE 14606654 at 31 December 2012)

14 Banks credit facilities and overdraft

17



Credit facilities of LE 4 009 828 259 (LE 3 333 560 718 at 31 December 2012) included in the current liabilities of the consolidated balance sheet represent the credit facilities and overdrafts secured by promissory notes current accounts and joint guarantees The average interest rate is annually 1106 or the Central Bank of Egypt borrowing and lending rate for the Egyptian Pound plus 143 for Egyptian pound facilities 183 over Libor and 1 monthly commission on the highest debit balance for US Dollar and 183 over Eurobor for the Euro facilities

15 Loans

This item represents the loans granted to the company and its subsidiaries as followsshy311122013 311122012

LE LE Current liabilities Loans due within one year 823770990 863657387

823770990 863657387

Long-term liabilities

Secured bank loans 475617422 541 709454 Unsecured bank loans 29072 024 47495 107

504689446 589204561

The unsecured short term loans amounted to LE 13 328 000 at 31 December 2013 (LE 23249750 at 31 December 2012)

The average interest rate for loans and credit facilities is 105 for the Egyptian pounds and 15 over Libor for the US Dollars

Loans granted to the company and its subsidiaries are secured by promissory notes from subsidiaries approximately ofLE 441 million Euro 4 million USD 517 million DZD 52 million and joint guarantees amounted to LE 1 102 million and mortgaged machineries equipments and vehicles amounted to USD 10 million and Sudanese pound 13 million

16 Trade notes and other payabies 311122013 3111212012

LE LE

Trade and notes payables 1 222 112285 1 041 900 123 Non trade payables and accrued expenses 1 883468577 1 685674692

3105580862 2727574815

This item includes an amount of LE 140 million represents the agreed and collected amount regarding the sale contract of the new administrative building (under construction at 31 December 2012) This sale is conditional on transfer of title of the land and approval of the companys extra ordinary general assembly on the sale The Extraordinary General Assembly was invited and the quorum of 75 in the first meeting was not achieved and the company is in the process of inviting the second meeting which requires 70 quorum The company according to the contract (after finalization of the building finishing works that is carried out from the buyer according to contract terms) should provide a mortgage to the buyer upon the completion of the finishing works in the sold building plus a letter of guarantee of 10 of the total consideration to the buyer till the seller transfer title to the buyer The building cost till the date of signing

18



the contract amounted to LE 41 million is classified as an assets held for sale from projects under progress together with the related land amounted to LE 30 million

17 Provisions

31122013 311122012 LE LE

Balance as at 111 90164949 49 138467 Formed during the year 135360259 42084399 Used during the year (4709070) (2795561) Provisions no longer required (2615539) (466942) Foreign exchange rates and adjustments 1 629 100 2204586

219829699 90164949

- On 2 September 2013 the companys management has recorded a provision of LE 95 194 775 as a provision of expected loss that the group could incurred from its subsidiaries investments in Syria which completely stopped its activities - The Byblos Bank of Syria claimed in the preliminary court ofDamascus to seize the assets of ElSewedy Cables (Syria) and El Sewedy Electric (Syria) to ensure the fulfillment of the loan owed to the bank by the two companies amounted to Lira 2677 million (equivalent to LE 128 million) about Euro 418 million (equivalent to LE 403 million) and 430 USD (equivalent to LE 3001)

18 Share Capital

Authorized share capital

The Companys authorized share capital is LE 5 billion

Issued and paid in share capital The issued and fully paid-in share capital of the Company is amounted to LE 1 718 600 000 on 311122010 divided over 171 860000 share with par value LE 10 each The Company Extra Ordinary General Assembly held on 2642011 decided to increase the Companys issued capital by issuing 51 558 000 shares with amount of LE 515 580 000 as a share dividends Accordingly the companys issued capital after this shares dividends becomes LE 2 234 180 000 divided over 223 418 000 share with par value LE 10 each This change was authenticated in the company commercial register on 28172011

19 Reserves

311122013 3111212012 LE LE

Legal reserve 105718467 90880846 General reserve 43816730 43816730

149535 134697576

Legal reserve According to the Companies Law and the statutes of the Company 5 of the annual net profit is set aside to form a legal reserve The transfer to legal reserve cease once the reserve reach 20 of the issued share capital The reserve is not distributable however it can be used to increase the share capital or offset losses If the reserve falls below the defmed level then the Company is required to resume setting aside 5 of the annual profit until it reaches 20 of the issued share capital

19


General reserve The general reserve amounted to LE 43 816 730 represents realized gain from sale of 25 million own shares at 362007

20 Deferred Tax

311122013 311122012 LE LE

Deferred tax assets 32018331 Deferred tax liability (124300415)

Unrecognized deferred tax asset

311122013 311122012 LE LE

Clients and debtors 78677 795 63726634 Provisions 54957425 22041 237

133635220 85767871

Deferred tax assets relating to these items have not been recognized because the necessary conditions for the reversal of the temporary differences have not been met

21 Other liabilities - Long term

311122013 3111212012 LE LE

Sales tax on imported machines 7599 124274 Other creditors 49914973 78 151 381

49922572 78275655

This item includes an amount of LE 42 million that represents long term portion of creditors for acquisition of land for the purpose of establishing projects by the company and some related subsidiaries

22 Segment reporting

Segment information is presented in respect of the Groups business and geographical segments The primary format business segments is based on the Groups management and internal reporting structure Segment results include items directly attributable to each segment as well as those that can be allocated on a reasonable basis

20

EI Sewedy Electric Company

Notes to the interim consolidated financial statements- 31 December 2013 Translated trom Arabic

Primary Reporting Format- Business Segments - 31 December 2013

The revenue analysis in the table below is based on the type of business activities at 31 December 2013

Power and Special Cables

Egypt International

LE LE

TurnKey

projects

LE

Electric Products and Accessories

Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales

Export Sales and construction

2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421

Total revenue without inter segment sales 7187304624 4546681 117 1 786624669 602 127267 976255240 15098992 917

Inter segment revenues 5723431 357 349703 890 145565648 164996684 30 163 224 6413860803

Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917

Total Cost ( I I J(2 5)4)(n ( -I lt)8 5KK ()()) ( I (77lt1) 4(4) )97 (31 YcO) ( 71-17 3(4) 6413860803 12 976 ~74 ()-ISI

Inventory write down ( 1 71i (jO) ( 55 501 ~7Hi ( 57242 37Si

Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894

Total selling amp marketing expenses ~()(j -4tY2 71) ( 40 41 1 JXraquo) ( Sf 3)() ( j( 747 S74) ( 2 47) x(0) ( -168 ~4l-l171

Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457

Other operating income

Administrative expenses

Other operating expenses

Net financing costs

Revenues form investment available for sale

Current income tax

Deferred income tax expense

Net profit for the period

71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)

Additions to fixed assets and project under progress 85947878 68227726 25596976 24074714 32368728 448 156 236664 178

-21shy

EI ~y Fieetrk Company

NgtvsilttvJm fflDfllklated nua IlatlpDtJ31Imembtr 2(113

Slaquoundary RtporHltR Fonmai ~ (~phkal~mmll hy location ~ U Ikumhl1 101 J

R~tTiues IIccNiing n getlPrnpbka mptTiiefll i~ ~ rOlkmlO

TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE

ReoCllUei lS 376 4]3 880 425050Zc 102 6ih 0~9 I 254 2lB 636 48454 85412 029 795 8()R 704 1708 l51 I Y)I 579429 126411 828 1551)74511 11 711 459 69757757 2Htft(6I(j Hi 4JJ 152 15098992 917

Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644

Ftlaquod IISICIS Itddflkms and roniltJ1Ktim underllflljIW

J3i JIi 122 551 664 7 527 JftO 6210099 J 147 Y09 15499214 2 396 802 54123 364 Ion 271 II 432 701 887HJ 56~ 1194 212 t02 J17 671 26664In

-22~

EL SEWEDY ELECTRIC COMPANY

Notes to the consolidated financial statements- 31 December 2013 Translated trom Arabic


The revenue analysis in the table below is based on the type of business activities at 31 December 20 12


Egypt International

LE LE

Turn Key

projects

LE

Electric Pruducts and Accessories

Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales

Export Sales and construction revenUeS

2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870

Total revenue without inter segment sales 7323316698 3794966973 1880070432 525577467 988375577 14512307147

Inter segment revenues 4926 152540 395963313 98748857 140 124833 119518315 ( 5 680 507 858)

Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)

Inventory write down ( 1263 Oil) ( 5081175) ( 2303 100) ( 8(47286)

Gross Profit

Total selling amp marketing expenses ( 235 900 136) ( 39847131) ( 13 234 (88) ( 3(193107) ( 82504814) ( 407(79876)

Segmen t profit

Other operating inLOme

General and Administrative expenses

Other operating eXpLl1SeS

Net financing costs


Current income tax

Deferrcd income tax expcnse

Net profit for the year

59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715

Depreciation III 089769 130698459 19604039 30284757 34534681

Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)

Additions to fixed assets and project under progress 98435700 44 074 269 10941 221 16422236 17088834 1 628972 188591232

-23shy

EL SEWFPl ~UCTR1C COMPAIY No to h 1tJlOHdald finallda ubi_lit- 311kumttr 1013

SecOhdat1 iltpriftR Fampf1IIlmiddot (~rephlnl ntllby Iocetkmmiddot JI J)uemhlt lOU

RC1fluei acoordinllll1 gtl~rnrltiall qClnCflt is M lInw

Tralllded from rullbio

[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot

31middot11middot1IHl

Ll

RWtillue5 14 649 327 287 421 807 t26 277 266 737 1 112amp20911 6 345 277 92 S90 amp1 769 949 939 I 367297575 932 664 387 94819619 78496 199 281525n 21020 HI 141 374 (125 192 220 amp40 5 680 5U7 858) 145121iJ7147

Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)

Mfuiruu f fOOld ampl$CI~ and pnjCt1~ under ronstructrn

f25 748 ~g2 540953 6(94511) ( 48() 201 I g93 ftb 9J4 9 372 493 2 fi21 9i~ 28 (i89 250 480 274 2 3(j8 540 478 836 40145U I 654 465 1 5829(7 IltK 591 2~1

-24shy



23 Other operating income

Provisions no longer required Capital gains Revenues from sale investments available for sale Impairment in investments available for sale Other income

24 Other operating expenses

Provisions

Impairment loss of receivables

Amortization

Capital loss

Impairment in investments available for sale

Impairment of subsidiary goodwill

Impairment of subsidiary patent

Others

25 Net financing cost

Fiance income Interest income Treasury bills and investment fund income

Finance cost Interest expense and finance charges Foreign exchange loss

Net financing cost

26 Capital commitments

2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)

The Groups capital commitment as at 31 December 2013 is LE 80 million (LE 125 million at 31 December 2012) The commitments are expected to be settled in the next financial year

27 Contingencies 311122013 311122012

LE LE

Uncovered portion of letters of guarantees and letter of credits 2266021115 2361361448

25


EL Sewedy Electric company Notes to the consolidated tmancial statements - 31 December 2013

Litigation and claims One of company subsidiaries owns a land for an amount of LE 963 million which was fully paid by the subsidiary to the seller of the land The subsidiary filed a lawsuit against the seller of the land claiming the transfer of the land ownership specially the full value of the land is paid by the subsidiary The seller also filed a suit against the company claiming return of land and compensation of 30 million The company management believes that that the court decision will be in its favor of the subsidiary specially that the Suez governorate approved the contract of sale of land The court hearing will be held on 17042014

28 Related parties

Related parties are represented in the Companys shareholders and the companies in which the shareholders own directly or indirectly shares that give them the ability to control or significantly influence these companies The main transactions with the related parties are sale of finished products The total value of sales to the affiliates during the year is LE 1 761 million as of 31 December 2013 (LE 1 115 million as of 31 December 2012) The following are the balances of related parties

311122013 311122012

LE LE

Stated under current assets Due from related parties

El Sewedy for Tools amp Cables 29910 701 16229249 Siag International 5916668 9381 543 Iskra Sarajevo 24018552 8049175 Iskra Malaysia 545738 496642 Iskra Mavira 10893415 El Sewedy Emirates (UAE) 4316006 4245518 Investment holding group Qatar 35 561 720 41 303973 Aama1 Holding Group Co 6542301 11 398 126 3W Networks Egypt 2116427 10426672 Rowad for Modem Engineering-Algeria 1251291 1 745301 National Electricity Authority - Sudan 5458661 13 210 046 aula for Real estate Development - Saudi Arabia 8 162 145 2654020 3W Networks - Qatar 3694434 2986269 Energia for specialized Cables 5630 MToress Group 7022895 Rowad for Modem Engineering-Libya 596548 United for Transformer limited- KSA 3934946 Trelco Limited - Qatar 312342 708520 Aiash Yemen 404763 404763 Engineering and Construction Industries - Siack 13083409 12077 582 Elsewedy electric for trading 6913 765 Saudi company for construction industries 4203774 Zesco limited company 13 073 212 Shareholders current account of some external subsidiaries 11 603518 855614 Others 11 848985 25775 158

192873358 180466659

311122013 311122012

26



Stated under current liabilities


Maali Holding 28 985807 32459730 11 520308 7613 433Misr for Mechanical and Electrical Projects - Kahromika

Arab Steel Fabrication Co 6315 131 2221 045 Thomas and Peets 222388 433 169 Siag International 24109887 21 800758 Tre1co limited-Qatar 701 016 970545 Qatar for Investment Group 9673595 7804839 Aamal Holding Group Co-Qatar 16 106276 19249929 Engineering and Construction Industries - Siack 11 309015 7931 286 Emas of Modem Systems 202023 1 526245 Consolidated Supplies 5 191 578 2416645 El Sewedy for Tools amp Cables 1 361 439 Military Industrialization Authority 8704580 Saudi company for construction industries 26058200 Ola for properties development-KSA 5016034 Shareholders current account in some external subsidiaries 10666758 12045679 Others 6536 152 4404297

172 680187 120877 600

Subsidiaries and jointly controlled The following are subsidiaries and jointly controlled entities owned by the company as at 31 December 2013shy

Date of Nature of of acquisition Country contribution share

Subsidiaries Co for El Sewedy Electric Egyptian Company For Advanced Industries 21-06-2005 Egypt Direct 9800 United Metals Co 23-06-2005 Egypt Direct 9980 Sedplast Co (Under Liquidation) 25-08-2005 Egypt Direct 9990 Egytech Cables Co 25-12-2005 Egypt Direct 9998 United Industries Co 25-12-2005 Egypt Direct 9998 Elastymould (subsidiary of Egyptian Company 22-02-2006 Egypt Indirect 4960 for Advanced Industries) El Sewedy for External cables Co(previously 19-04-2006 Egypt Direct 9996 el sewedy electric) United Wires Co 02-11-2006 Egypt Direct 9994 Egyplast Co 24-12-2006 Egypt Direct 9997 EI Sewedy Cables Egypt 21-02-2007 Egypt Direct 9987 Elsewedy Transformer 30-04-2011 Egypt Direct 9987 Red Sea Co for Copper (Under Liquidation) 21-06-2007 Egypt DirectIndirect 7400 Elsewedy Electric Co For Transmission 21-10-2007 Egypt Direct 9997 Pyramids Industrial Urban Development 27-09-2007 Egypt DirectIndirect 5000 El Sewedy Power (Electric High Voltage 27-09-2007 Egypt Direct 9984 previously) El Sewedy Sedco for Petroleum services 10-01-2008 Egypt Direct 9600 Iskra Emco Energy Measurement Misr 18-02-2008 Egypt Indirect 9912 Iskra Bmeo Slovenia 1-1-2008 Solvenia Indirect 9970 Elsewedy Electric Co For Trading and 21-12-2008 Egypt DirectIndirect 998

27



Distribution Siag El Sewedy for Towers 17-08-2008 Egypt Direct 4900 El Sewedy for Wind Energy Generation 10-07-2008 Egypt Direct 998 Power System Projects Company 31-12-2008 Egypt Direct 7500 Desert Wind Company(Under Liquidation) 31-12-2008 Egypt Direct 4990 Wind Blades Company(Under Liquidation) 31-03-2009 Egypt Direct 9960 El Sewedy Electric Contracting and 31-03-2009 Zambia Direct 4990 Engineering - Zambia El-Ola for development Industrial zone 30-9-2009 Egypt Direct Indirect 5000 El Sewedy Energy Distribution 31-12-2009 Sudan Indirect 9998 International Company for Development 30-6-2010 Egypt Direct 9000 Research Technology and Measurement Devices (R amp D Tech) (Under Liquidation) Rowad Engineering Co 30-6-2010 Egypt Indirect 6500 Pyramids Zonafranca-Egypt 30-6-2010 Egypt Indirect 475 Etalsamia for manufacturing electrical tools 30-6-2010 Egypt Indirect 9998 against explosion Arab Company for Constructions 12-10-2011 Egypt Indirect 100 Management Guard and Security Services Arab company for Electricity and Power 7-12-2011 Yemen Indirect 50 Limited Double Energy two company 11-1-2011 Bulgaria Indirect 87 Subsidiaries for El Sewedy for External Cables Co (El Sewedy electric previously)

El Sewedy Cables - Syria 28-02-2006 Syria Indirect 96 Sudanese Egyptian for limited electrical 13-02-2006 Sudan Indirect 7000 industries Giyad El Sewedy for Transport Limited 13-02-2006 Sudan Indirect 9997 Giyad Cables Co 13-02-2006 Sudan Indirect 4500 El Sewedy Electric Ghana Limited 10-02-2006 Ghana Indirect 70 El Sewedy Cables - Qatar 20-04-2006 Qatar Indirect 2450 El Sewedy Cables - Algeria 03-10-2006 Algeria Indirect 9989 El Sewedy Electric - Syria 30-10-2006 Syria Indirect 9595 Senyar Holding 09-05-2008 Qatar Indirect 5000 El Sewedy Cables Arable Iraq 07-10-2007 Iraq Indirect 5000 Sedplast Co - Syria 22-07-2007 Syria Indirect 9800 El Sewedy Cables Limited 24-12-2006 Saudi Indirect 6000 El Sewedy Cables Yemen 13-05-2007 Yemen Indirect 8076 El Sewedy Cables Kuwait(under 18-02-2008 Kuwait Indirect 4900 Liquidation) El Sewedy Cables Malawy 13-05-2007 Malawi Indirect 995 Power Empire Co China 01-01-2008 China Indirect 100 El Doha Cables- Qatar 09-05-2008 Qatar Indirect 4556 El Sewedy Electric Limited Zambia 31-03-2009 Zambia Indirect 6000 El Sewedy Electric Limited Nigeria 31-03-2009 Nigeria Indirect 9474 El Sewedy Cables Ethiopia 31-03-2009 Ethiopia Indirect 9500 Libya for Common Cables 30-9-2009 Lybia Indirect 5500 El Sewedy Electric Transmission and Power 31-12-2009 Algeria Indirect 9998 Distribution Iskra Malta 31-12-2009 Malta Direct Indirect 9999 Red Sea for copper - Egypt 31-12-2009 Egypt Direct Indirect 100

28



MAS for Trading and Contracting (Under 3-3-2010 Egypt Indirect 60 Liquidation) MTorres - Spain 10-1-2010 Spain Indirect 90 United Co For Electrical Industries 31-3-2010 Saudi Indirect 60 Sweg - Malta 31-12-2009 Malta Direct Indirect 9995 3W Network - Emirates 30-6-2010 Emirates Indirect 75 Elsewedy for trade Limited 31-3-2011 Syria Indirect 96

Egyplus Energy PVT LTD- India 31-3-2011 India Indirect 996

Elsewed electric Europe GmbH 13-5-2011 Germany Indirect 100 National Extrution and manifacturing of metala 23-5-2013 Egypt Direct 9998

From 11112010 the Arab Cable Company was merged into Egytech Company

According to board of directors decision at 28 May 2012 these companies decided to be under liquidation till closing its commercial register

According to board of directors decision at 20 March 2012 these companies decided to be under liquidation till closing its commercial register

The company has transferred its direct investment in Iskra Emco Energy Measurement Misr and Iskra Emco Slovenia to become an investment under Iskra Malta This transaction has been recorded according to the book value of these companies

29 Tax status

EI Sewedy Electric Company The following represents subsidiaries subject to corporate income tax free zone subsidiaries and subsidiaries enjoying tax exemption from corporate income tax

Subsidiaries in Egypt subject to corporate income tax Sed Plast Company Pyramids Industrial Urban Development Elsewedy Electric Co For Trading and Distribution Power Systems Projects Co Madkour Egyptian company for Insulators Industry Co Iskra Emeco Energy Measurement Misr Egytech Cables Co EL - Ola for Development Industrial zones United Metals Co United Industries Co Sedco Advanced Elastimold Siag E1Sewedy for Towers E1Sewedy for Wind Energy Generation Desert Wind Company Wind Blades Company MAS for Trading and Contracting International company for development research technology and measurement devices (RampD Tech) Rowad Engineering Co Pyramids Zonafranca -Egypt Arab Company for Premises Management Guard and Security Services

29



Subsidiaries outside Egypt subject to corporate income tax Sewedy Cables - Qatar

EI Sewedy Cables - Saudi Arabia El Sewedy Cables -Malawi EL Sewedy Cables Syria Iskra Emeco - Slovenia El Sewedy Cables - Arbil Iraq El Sewedy Cables - Kuwait Power Empire China Senyar Holding - Qatar El Doha Cables - Qatar El Sewedy Electric Contracting and Engineering - Zambia Libya For Common Cables EL Sewedy Electric Transmission and Power Distribution - ( Algeria) EL Sewedy for Energy Distribution Co Ltd Sudan Sudatraf Giad EL Sewedy for Transport Limited M Toress-Spain United Electrical Industries Limited Saudi Arabia Iskra Malta Sweg- Malta Elsewedy Trade Limited - Syria Egyplus Energy PVT LTD India El Sewedy Cables - Ethiopia Double Energy Two Company Bulgaria EL Sewedy Electric Syria El Sewedy Cables - Algeria Giad EL Sewedy Sedplast-Syria

Free Zone subsidiaries in Egypt

El Sewedy for External Cables (EI Sewedy Electric previously) Red Sea for Copper

Sewedy Power (previously High Voltage) El Sewedy Electric Transmission and Power Distribution El Sewedy Sedco for Petroleum Services Red Sea for Copper - Egypt

Free Zone subsidiaries out Egypt

El Sewedy Electric-Ghana 3W Network - Emirates

Subsidiaries in Egypt enjoying tax exemption from corporate income tax

Egy Plast Co United wires Company Elsewedy Cables - Egypt Etalsamia

30

End of tax exemption 311122017 311122017 17052018 311122019



Subsidiaries outside Egypt enjoying tax exemption from corporate income tax End of tax exemption

EL Sewedy Cables Yemen 2052016 EI Sewedy Electric Limited - Zambia 311312014

30 Intangible assets

The intangible assets at 31 December 2013 are as follows

311122013 31122012 LE LE

Goodwill 40618333 89269314 Other intangible assets 44201 198 155576363

84819531 244845677

-Goodwill balance includes LE 284 million as a result of acquisition of Egyptian Company for Insulators Industry and the acquisition of other companies which resulted in goodwill with approximately LE 122 million at acquisition date

-The companys management recorded an impairment in patents and goodwill balances at the acquisition date of an investment amounted to LE 112 966 489 and LE 48 650 981 respectively These intangible assets related to MTorres which manufactures wind power generation Turbines The impairment is recorded as a result of uncertainty due to the existence of significant doubt in the companys ability to generate future cash flows due to the low probability that the company obtains new contracts in future due to the economic recession in European countries which affect negatively the development of these countries The subsidiary has a supply and installation contract of wind power generation units in Libya Since 2010 till now the completion of this contract depends on the ability of the company to perform the remaining part of the contract in Libya The total assets book value of this subsidiary amounted to LE 353 million

- Intangible assets impairment amounted by LE 23 132 524 for the year ended 31 December 2013

31 Shares based payment

The general assembly dated 13 April 2008 decided to issue 200 000 shares with par value of LE 10 each as employees share based payments according to the ministerial decree No 282 for 2005 The Extraordinary General assemblys dated 19 April 2010 and 26 April 2011 decided a shares dividend (3 shares for each 10 shares) Each financial year is charged by part of the fair value of these shares The employee right at each year end during the three years scheme to exercise part of the shares based payments in the following ratesshy

First year 20 Second year 30 Third year 50

The fair value of the services rendered in return of the shares granted as at 31 December 2011 is as follows

31



Number of shares granted as at 31 December 2008 126000 Share dividends (3 for each 10) 52383 Exercised up to 31 December 2011 (161 227) Canceled shares to employees up to 31 December 2011 (17 156)

Fair Market value at 31 December 2011 4227 700

The granted options were fully exercised and there is a remaining balance of shares of 142 216 available for share based payments that belongs to the system

32 Leased assets

The company sold some of its fixed assets to the International Company for Capital Lease (Incolease) by virtue of an initial contract ofUSD $ 32 283 318 equivalent to LE 181 990 960 that represent the net book value for these assets The company leased back these assets by virtue of capital lease contract of USD $ 36010 100 to be paid over 20 quarterly installments during the period ofUSD $ 1 800505 each The lease contract contains a bargain option to purchase the leased assets at a purchase bargain option of LE 4 during the last 2 months at the end of each contract or at the end of each year from the date of the lease A deferred capital gain of LE 5 363 286 resulted from sale of these fixed assets which is amortized over the lease contract period

33 Earnings per share 311122013 311122012

Profits attributable to the ordinary 96501 795 116540824

shareholders Weighted average number of shares

Issued capital at 111 223418000 223418000 Own Shares Weighted average number of shares 223418000 223418000

34 Financial instruments and the related risks

The main risks related to the company activities are

- Credit risk

- Liquidity risk

- Market risk

The Company risk management policies are established to identify and analyze the risk faced by the Company to set appropriate risk limits and controls and to monitor risks and adherence to limits Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company activities The Company through its training and management standards and procedures aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations The Company does not use derivative financial instruments

Credit risk

32



Credit risk is the risk that one party to a financial instrument fails to discharge an obligation and cause the other party to incur financial loss This risk arises from the receivable and debtors

(LE million)

311122013 311122012

Receivable debtors and due from related parties 5484 5000 Cash and investments 1 529 1 324

7013 6324

Receivable aging (LE million)

311122013 311122012

Not due 826 500 Due for 30 days 716 663 Due For 31 to 120 days 1 324 2443 Due For 121 to 180 days 1 782 387 Due for More than 180 days 531 621 Others 620 643

5799 5257

Trade notes and other receivables are recorded after deducting impairment losses ofLE 3147 at 31 December 2013 (LE 2569 at 31 December 2012)

Liquidity risk Payments to suppliers and creditors are due within a period of 90 day from receipt of goods or services

(LE Thousand) Less than 6 -12 month Other More than 6 month one year

LE LE LE LE

Creditors and due to related parties 1 682586 783451 821 224 49923 Due to banks 2912031 1 900778 105264 504689

Foreign currency risk The following are the balances of monetary assets and liabilities III foreign currencies as of 31 December 2013

(LE Thousand)

31 December 2013 31 December 2012 USD $ Euro GBP USD $ Euro GBP

Financial assets 608550 132801 1 097 420204 206078 1 680 Financial liabilities 776632 186942 351 783318 144988 756394

The following are the significant foreign currency exchange rates during the period

33



Closing rates Average rates

311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk

The following are the Group interest bearing financial instruments (LE million)

Net book value 311122013 3111212012

Fixed interest rates

Financial assets 242 Financial liabilities

Variable interest rates Financial assets 1282 1 126 Financial liabilities

The average interest rates are on the [mancial assets and liabilities as follows

LE EURO USD$

Financial assets 10 2 175

Financial liabilities 1075 25 275

34

188

Translated trom Arabic Auditors Report

To the shareholders of El Sewedy Electric Company (An Egyptian joint stock company)

Report on the Financial Statements

We have audited the accompanying consolidated financial statements of El Sewedy Electric Company (an Egyptian Joint Stock Company) which comprise the consolidated balance sheet as at 31 December 2013 and the consolidated income statement statement of changes in equity and statement of cash flows for the financial year then ended and a summary of significant accounting policies and other explanatory notes

Managements Responsibility for the Financial Statements

These financial statements are the responsibility of Companys management Management is responsible for the preparation and fair presentation of these financial statements in accordance with the Egyptian Accounting Standards and in the light of the prevailing Egyptian laws management responsibility includes designing implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error management responsibility also includes selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances

Auditors Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit Except as discussed in the basis for qualified opinion we conducted our audit in accordance with the Egyptian Standards on Auditing and in the light of the prevailing Egyptian laws Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements The procedures selected depend on the auditors judgment including the assessment of the risks of material misstatement of the financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entitys preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entitys internal control An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management as well as evaluating the overall presentation of the financial statements

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements



Qualified Opinion


Emphasis ofmatter





Cairo 31 March 2014




Assets

Long term assets

Fixed assets




Debit balances

Intangible assets

Deferred tax assets


Current assets

Inventories







Current liabilities


Loans




Provisions


Working capital

Total investments


Sbarebolders Equity


Own shares

Reserves


Retained earnings




Minority interest

Total equity


Loans


Other liabilities






-1middot

Note No

(3-3)laquo6)

(3-3)laquo7)

(3-5)laquo8)

(3-1)

(3-4gt(9)

(3-7)(30)

(3-19)(20)

(3-8)laquo10)

(3-4)(11)

(28)

(3-6)laquo12)

(13)

(3-9)

(3-12HI4)

(3-12)0(15)

(3-4)lt(16)

(28)

(311)laquo17)

(18)

(19)

(3-1)

(3middot12)laquo15)

(3middot19)laquo20)

(21)

31-12-13 311212012

LE LE

3215401911 3225641335

135091257 188771 632

to 266 200 10 000 000

12693283 12 866678

72 257554 21118230

84819531 244845677

44778613 32018331

3575308349 3735261883

3699178 762 3439641354

5290660158 4820077 880

192873 358 180466659

182700369 132725425

1346173871 I 191229897

72 296777 71 276462

10 783 883 295 9835417677

4009 828259 3333 560718

823770990 863657387

84473968 397264375

3 105580862 2727574815

172680187 120877 600

219829699 90164949

8416163965 7533099844

2367719330 2302317833

5943027679 6037579716

2234180000 2234180000

( 1422160) ( 1 422 160)

149535197 134697576

578908660 578908660

1900996805 2002 185741

96 SOl 795 116540824

(87612 698)

4871087599 4833365098

415952466 412433987

5287040065 5245799085

504689446 589204561

101 375596 124300415

49922572 78275655

655987614 791780631

5943027679 6037579716

Managing Director


Chairman









Gross profits 2064875894 1831515923











Income tax




Attributable to



134528643 145935715



-2shy







ofthe acquired

subsidiaries

Retained earnmgs


for the periodlyear


foreign entities



holders equity



















618247 618247









-3shy






2012 LE

228325447

328716611

10816110

192019223

475260037

( 8785568)

327563

4284000

(4887415)

1226076008

( 397 070 025)

114005444

( 144 155 125)

97563733

896420035

( 188 591 232)

(26618568)

44 152599

268726898

97669697

(27 661388) 5703 140

( 799 935 029)

(223418000)

(1045311 277)

(51221545)

1242451442

1191229897

(15724154)

1175505743




Depreciation

Amortization


Net financing cost

Capital loss (gain)


















2013

LE

240603120

364 040414

23 132524

154767680

421694366

76166

628 874

161617470

(4284000)

(3149131) (3469485)

1355657998

( 548 073 126)

(258414884)

38359693

( 256 904 372)


(30689906) 618247

239075623

( III 709 000)

( 236 664 178)

( 472 911) ( 14700379)

(20589454)

7433 131

( 266200)

42258636

(49974944)












-4shy


















-5shy












- 6shy







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188



Qualified Opinion


Emphasis ofmatter





Cairo 31 March 2014




Assets

Long term assets

Fixed assets




Debit balances

Intangible assets

Deferred tax assets


Current assets

Inventories







Current liabilities


Loans




Provisions


Working capital

Total investments


Sbarebolders Equity


Own shares

Reserves


Retained earnings




Minority interest

Total equity


Loans


Other liabilities






-1middot

Note No

(3-3)laquo6)

(3-3)laquo7)

(3-5)laquo8)

(3-1)

(3-4gt(9)

(3-7)(30)

(3-19)(20)

(3-8)laquo10)

(3-4)(11)

(28)

(3-6)laquo12)

(13)

(3-9)

(3-12HI4)

(3-12)0(15)

(3-4)lt(16)

(28)

(311)laquo17)

(18)

(19)

(3-1)

(3middot12)laquo15)

(3middot19)laquo20)

(21)

31-12-13 311212012

LE LE

3215401911 3225641335

135091257 188771 632

to 266 200 10 000 000

12693283 12 866678

72 257554 21118230

84819531 244845677

44778613 32018331

3575308349 3735261883

3699178 762 3439641354

5290660158 4820077 880

192873 358 180466659

182700369 132725425

1346173871 I 191229897

72 296777 71 276462

10 783 883 295 9835417677

4009 828259 3333 560718

823770990 863657387

84473968 397264375

3 105580862 2727574815

172680187 120877 600

219829699 90164949

8416163965 7533099844

2367719330 2302317833

5943027679 6037579716

2234180000 2234180000

( 1422160) ( 1 422 160)

149535197 134697576

578908660 578908660

1900996805 2002 185741

96 SOl 795 116540824

(87612 698)

4871087599 4833365098

415952466 412433987

5287040065 5245799085

504689446 589204561

101 375596 124300415

49922572 78275655

655987614 791780631

5943027679 6037579716

Managing Director


Chairman









Gross profits 2064875894 1831515923











Income tax




Attributable to



134528643 145935715



-2shy







ofthe acquired

subsidiaries

Retained earnmgs


for the periodlyear


foreign entities



holders equity



















618247 618247









-3shy






2012 LE

228325447

328716611

10816110

192019223

475260037

( 8785568)

327563

4284000

(4887415)

1226076008

( 397 070 025)

114005444

( 144 155 125)

97563733

896420035

( 188 591 232)

(26618568)

44 152599

268726898

97669697

(27 661388) 5703 140

( 799 935 029)

(223418000)

(1045311 277)

(51221545)

1242451442

1191229897

(15724154)

1175505743




Depreciation

Amortization


Net financing cost

Capital loss (gain)


















2013

LE

240603120

364 040414

23 132524

154767680

421694366

76166

628 874

161617470

(4284000)

(3149131) (3469485)

1355657998

( 548 073 126)

(258414884)

38359693

( 256 904 372)


(30689906) 618247

239075623

( III 709 000)

( 236 664 178)

( 472 911) ( 14700379)

(20589454)

7433 131

( 266200)

42258636

(49974944)












-4shy


















-5shy












- 6shy







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188




Assets

Long term assets

Fixed assets




Debit balances

Intangible assets

Deferred tax assets


Current assets

Inventories







Current liabilities


Loans




Provisions


Working capital

Total investments


Sbarebolders Equity


Own shares

Reserves


Retained earnings




Minority interest

Total equity


Loans


Other liabilities






-1middot

Note No

(3-3)laquo6)

(3-3)laquo7)

(3-5)laquo8)

(3-1)

(3-4gt(9)

(3-7)(30)

(3-19)(20)

(3-8)laquo10)

(3-4)(11)

(28)

(3-6)laquo12)

(13)

(3-9)

(3-12HI4)

(3-12)0(15)

(3-4)lt(16)

(28)

(311)laquo17)

(18)

(19)

(3-1)

(3middot12)laquo15)

(3middot19)laquo20)

(21)

31-12-13 311212012

LE LE

3215401911 3225641335

135091257 188771 632

to 266 200 10 000 000

12693283 12 866678

72 257554 21118230

84819531 244845677

44778613 32018331

3575308349 3735261883

3699178 762 3439641354

5290660158 4820077 880

192873 358 180466659

182700369 132725425

1346173871 I 191229897

72 296777 71 276462

10 783 883 295 9835417677

4009 828259 3333 560718

823770990 863657387

84473968 397264375

3 105580862 2727574815

172680187 120877 600

219829699 90164949

8416163965 7533099844

2367719330 2302317833

5943027679 6037579716

2234180000 2234180000

( 1422160) ( 1 422 160)

149535197 134697576

578908660 578908660

1900996805 2002 185741

96 SOl 795 116540824

(87612 698)

4871087599 4833365098

415952466 412433987

5287040065 5245799085

504689446 589204561

101 375596 124300415

49922572 78275655

655987614 791780631

5943027679 6037579716

Managing Director


Chairman









Gross profits 2064875894 1831515923











Income tax




Attributable to



134528643 145935715



-2shy







ofthe acquired

subsidiaries

Retained earnmgs


for the periodlyear


foreign entities



holders equity



















618247 618247









-3shy






2012 LE

228325447

328716611

10816110

192019223

475260037

( 8785568)

327563

4284000

(4887415)

1226076008

( 397 070 025)

114005444

( 144 155 125)

97563733

896420035

( 188 591 232)

(26618568)

44 152599

268726898

97669697

(27 661388) 5703 140

( 799 935 029)

(223418000)

(1045311 277)

(51221545)

1242451442

1191229897

(15724154)

1175505743




Depreciation

Amortization


Net financing cost

Capital loss (gain)


















2013

LE

240603120

364 040414

23 132524

154767680

421694366

76166

628 874

161617470

(4284000)

(3149131) (3469485)

1355657998

( 548 073 126)

(258414884)

38359693

( 256 904 372)


(30689906) 618247

239075623

( III 709 000)

( 236 664 178)

( 472 911) ( 14700379)

(20589454)

7433 131

( 266200)

42258636

(49974944)












-4shy


















-5shy












- 6shy







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188








Gross profits 2064875894 1831515923











Income tax




Attributable to



134528643 145935715



-2shy







ofthe acquired

subsidiaries

Retained earnmgs


for the periodlyear


foreign entities



holders equity



















618247 618247









-3shy






2012 LE

228325447

328716611

10816110

192019223

475260037

( 8785568)

327563

4284000

(4887415)

1226076008

( 397 070 025)

114005444

( 144 155 125)

97563733

896420035

( 188 591 232)

(26618568)

44 152599

268726898

97669697

(27 661388) 5703 140

( 799 935 029)

(223418000)

(1045311 277)

(51221545)

1242451442

1191229897

(15724154)

1175505743




Depreciation

Amortization


Net financing cost

Capital loss (gain)


















2013

LE

240603120

364 040414

23 132524

154767680

421694366

76166

628 874

161617470

(4284000)

(3149131) (3469485)

1355657998

( 548 073 126)

(258414884)

38359693

( 256 904 372)


(30689906) 618247

239075623

( III 709 000)

( 236 664 178)

( 472 911) ( 14700379)

(20589454)

7433 131

( 266200)

42258636

(49974944)












-4shy


















-5shy












- 6shy







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188







ofthe acquired

subsidiaries

Retained earnmgs


for the periodlyear


foreign entities



holders equity



















618247 618247









-3shy






2012 LE

228325447

328716611

10816110

192019223

475260037

( 8785568)

327563

4284000

(4887415)

1226076008

( 397 070 025)

114005444

( 144 155 125)

97563733

896420035

( 188 591 232)

(26618568)

44 152599

268726898

97669697

(27 661388) 5703 140

( 799 935 029)

(223418000)

(1045311 277)

(51221545)

1242451442

1191229897

(15724154)

1175505743




Depreciation

Amortization


Net financing cost

Capital loss (gain)


















2013

LE

240603120

364 040414

23 132524

154767680

421694366

76166

628 874

161617470

(4284000)

(3149131) (3469485)

1355657998

( 548 073 126)

(258414884)

38359693

( 256 904 372)


(30689906) 618247

239075623

( III 709 000)

( 236 664 178)

( 472 911) ( 14700379)

(20589454)

7433 131

( 266200)

42258636

(49974944)












-4shy


















-5shy












- 6shy







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188






2012 LE

228325447

328716611

10816110

192019223

475260037

( 8785568)

327563

4284000

(4887415)

1226076008

( 397 070 025)

114005444

( 144 155 125)

97563733

896420035

( 188 591 232)

(26618568)

44 152599

268726898

97669697

(27 661388) 5703 140

( 799 935 029)

(223418000)

(1045311 277)

(51221545)

1242451442

1191229897

(15724154)

1175505743




Depreciation

Amortization


Net financing cost

Capital loss (gain)


















2013

LE

240603120

364 040414

23 132524

154767680

421694366

76166

628 874

161617470

(4284000)

(3149131) (3469485)

1355657998

( 548 073 126)

(258414884)

38359693

( 256 904 372)


(30689906) 618247

239075623

( III 709 000)

( 236 664 178)

( 472 911) ( 14700379)

(20589454)

7433 131

( 266200)

42258636

(49974944)












-4shy


















-5shy












- 6shy







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188


















-5shy












- 6shy







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188












- 6shy







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188







Foreign operations


3-3 Fixed assets






-7shy












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188












- 8 shy





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188





3-7 Other assets



3-8 Inventories




- 9shy



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188



3-10 Impairment




3-11 Provisions




- 10 shy




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188




3-13 Dividends


3-14 Own shares







- 11 shy











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188











- 12 shy





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188





4 Fair Value










- 13 shy









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188









- 14 shy


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188


6 Fixed Assets

Cost


Additions


Land

LE

358432632

954956

Buildings

LE

1350854583

16677725

3791 920


LE

2303784338

102889823

25506965


LE

98317878

10502682

84430

Vehicles

LE

116893091

12339324


LE

8750983

3441 809

Total

LE

4237033505

146806319

29383315


Disposals

Adjustments

Foreign exchange

59431

( 33023)

( I 490954)

( 1 289280)

(16987400)

38 374027

(86225717)

3588779()O

37256631

( 1 497 933)

(23054100)

185562

( 14444633)

565620600

4077651

(17600)

28142300

713607

( 103415732)

9092970

79 I 16524

Cost as of 311122013 357923042 1445864349 2451527 199 107663201 124840928 38161714 4525980433

Depreciation


Depreciation

Disposals

Adjustments

Foreign exchange

172 141 431

56937620

( 795434)

733692

5764845

705777260

259078 168

( 59 553 076)

2 557562

(7967733)

50611 145

17903722

(1177478)

5333

( 749062)

76616714

16692171

( 12610312)

5606262

2859863

6245620

13428733

( 8794)

7848

472 422

1011392170

364 040 414

(74145094)

8910 697

380335




-15shy






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188






311122013 311122012 LE LE



32760


10266200 10000000


31122013 31122012 LE LE


72 257554 21118230

10 Inventories

311122013 311122012 LE LE


3699178762 3439641354


16




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188




31122013 LE

3111212012 LE


3415856803 320002646 591 846746 962953963

3064929455 343578833 591 808433 819761 159

5290660158 4820077880




311122013 311122012 LE LE





311122013 311122012 LE LE


1346173 1191229897




17




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188




15 Loans



823770990 863657387



504689446 589204561





LE LE


3105580862 2727574815


18




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188




17 Provisions

31122013 311122012 LE LE


219829699 90164949


18 Share Capital




19 Reserves

311122013 3111212012 LE LE


149535 134697576


19



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188



20 Deferred Tax

311122013 311122012 LE LE



311122013 311122012 LE LE


133635220 85767871



311122013 3111212012 LE LE


49922572 78275655




20






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188






Egypt International

LE LE

TurnKey

projects

LE


Egypt International

LE LE

Elimination

LE

Consolidated

31-12-2013

LE

Local Sales


2704752429

4482552195

4496504769

50 176348

1 083446555

703178114

380030 155

222097 112

346840588

629414652

9011574496

6087418421



Total revenue 12910 735 981 4896385007 1932190317 767123951 1006418464 6413860803 15098992 917



Gross Profit 948 141 631 457796317 253 104323 169492631 236340992 2064 875 894


Segment profit 647739260 417 385 321 244302017 132744757 153861 102 I 596032457




Net financing costs


Current income tax



71 248 288

5)-1 fm 521)

41 4 3~3 222)

421 (94Y)7)

3469485

( I J(j ()SS 59))

30584122

134528643

Depreciation 106927594 131777072 22062501 38090204 43939279

Unallocated

21 243 764 364 040 414

Assets

Liabilities

4949246747

( 719 199782)

3640136970

( 1 001 742096)

1348512075

( I 125219924)

1 127430630

( 120 438 527)

1 766649092

( 276921 389)

1 527216130

(5828629861)

14359 191 644

(9072 151 579)


-21shy





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188





TlAlaled Wnm Ivnbio

fiRypt

LE

Syria

LF

Sudan

t

Qatar

Lpound

(han

LE

I

tE

Slnwflla

1

SwlAnhla

1F

A~erla

LE

llttbloupJa

L[

Zambia

IE

Nlpmq

Lt

y

LF

Spln

L[

Othen

LE

FlIndaadull

LE

Total

HmiddotJ1middot101J

LE


Linhili1ie1

R 685 000 760

()

90 1jIH 175

( ~I~)

236375 122

Hlgt

726 493 421

~ I q HI

8 JSc 598

~ I (9)

28 663 440 77) 719 76ft

Hg

I 098 ]8n 216

1(0

143417

RH

148 8((i 485 ISH 516 715

I lH) )(i

91 781 719

( lt)

144152511

lj417middot1 H)

J04 601 353

l)- 6(l2 249 664

1011)

14 359 1~1644



-22~






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188






Egypt International

LE LE

Turn Key

projects

LE


Egypt International

LE IE

Elimination

LE

Consolidated

31-12-2012

LE

Local Sales


2510513689

4812803 009

3537689853

257277 120

937884071

942 186361

398 141 908

127435559

401224756

587150821

7785454277

6726852870



Total revenue 12249469238 4190930286 1978819289 665702300 1 107893892 ( 5 680 507 858) 14512307147

Total Cost ( 11 564 081 635) ( 3 820 280 318) ( 1 587 158919) 531 881 924) ( 849 249 000) 5680507858 ( 12 672 143938)


Gross Profit


Segmen t profit




Net financing costs


Current income tax



59075533

( 5660409(4)

( 218172 6(7)

( 475 260 (37)

4887415

( 74(05976)

( 7783756)

145935715


Unallocated

2504906 328716611

Assets

Liabilities

5064514508

( 908024775)

3082086363

( 677 910 628)

1 156077 070

( 772 570 448)

1067464 827

( 109 568 498)

I 950733772

( 233 307 470)

I 249 8m 020

( 5 623 498 656)

13 570 679 560

(8124 RRi1475)


-23shy





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188





[ltypt

[ [

Srla

[f

SOOItD

I E

Qatar

LE

(aII

LF

In

LE

Sklvtnla

u

Sudl Arhla

Lt

A~rla

LE

ttMllpia

LE

lAmbla

LJ

Nigeria

IX

shy

LE

Spa

LJ

Othtn

LE

[Hmmati6n

I bullF

Tot


Ll


Lietilitks

g 266 891635

( 7 284 528 554)

239384 146

( 25 167 841)

188461848

(6176f L07)

731 388 58Q

(221719 143

25 305 202

146 583)

40 388 103

(5 (l45 267)

8Hl 187439

207377 545)

95(l JOJ Jfi4

119111039)

1854037amp5

200 O~1 237)

130258506

(15415092)

1160(19315

(41995030)

88086211

4 7HO 8)

134543793

(16635 fi58)

470685423

374)

~93 322 210

121 9iO (13)

11 51) (79 56fl

( i )24 iitJ 475)



-24shy






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188






Provisions


Amortization

Capital loss




Others




Net financing cost


2013 LE 2615539

3 149 131 4284000

61 199618

2012 LE

446942 8785568

49823023 71248288 59075533

2013 LE

135360259

89259229

23 132525

76177

48650981

112966489

4937573

2012 LE

42084399

153 197327

10816110

4248000

7790771 414383222 218172 607

2013 LE

22531942 1 885424

24417366

(434721 035) (11 390698)

(446 111 733)

(421 694367)

2012 LE 16089568 31959218

48048786

(426 460 972) (96847851)

(523 308 823)

(475 260 037)


27 Contingencies 311122013 311122012

LE LE


25




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188




28 Related parties


311122013 311122012

LE LE



192873358 180466659

311122013 311122012

26







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188







172 680187 120877 600




27





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188





28










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188










29 Tax status



29












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188












30








311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188







311122013 31122012 LE LE


84819531 244845677








31






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188






32 Leased assets








- Credit risk

- Liquidity risk

- Market risk


Credit risk

32




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188




(LE million)

311122013 311122012


7013 6324


311122013 311122012


5799 5257




LE LE LE LE



(LE Thousand)




33




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188




311122013 3111212012 2013 2012 USD$ 698 641 68929 622 Euro 964 843 92571 812

Interest rate risk


Net book value 311122013 3111212012





LE EURO USD$



34

188

el sewedy electric company (an egyptian joint stock ... relations/financial/ee... · the...

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