DELFI LIMITED
(Incorporated in Singapore. Registration Number: 198403096C)
AND ITS SUBSIDIARIES
CONDENSED INTERIM FINANCIAL STATEMENTS
For the six months ended 30 June 2022
1
The accompanying notes form an integral part of these financial statements.
Contents
Page | |
Condensed Interim Consolidated Income Statement | 3 |
Condensed Interim Consolidated Statement of Comprehensive Income | 4 |
Condensed Interim Balance Sheets | 5 |
Condensed Interim Consolidated Statement of Changes in Equity | 6 |
Condensed Interim Consolidated Statement of Cash Flows | 8 |
Notes to the Condensed Interim Consolidated Financial Statements | 10 |
Other information required by Listing Rule Appendix 7.2 | 23 |
2
The accompanying notes form an integral part of these financial statements.
CONDENSED INTERIM CONSOLIDATED INCOME STATEMENT
The Group | ||||
6 months ended | ||||
30 Jun 2022 | 30 Jun 2021 | Change | ||
Notes | US$'000 | US$'000 | % | |
Revenue | 5 | 246,270 | 210,490 | 17.0 |
Cost of Sales | (173,797) | (149,481) | 16.3 | |
Gross Profit | 72,473 | 61,009 | 18.8 | |
Other operating income | 2,146 | 1,506 | 42.5 | |
Expenses | ||||
Selling and distribution costs | (31,133) | (30,215) | 3.0 | |
Administrative expenses | (13,723) | (12,015) | 14.2 | |
Finance costs | (258) | (764) | (66.2) | |
Other operating expenses | (812) | (453) | 79.2 | |
Share of results of associated | ||||
companies and joint ventures | (45) | (80) | (43.8) | |
Profit before income tax | 28,648 | 18,988 | 50.9 | |
Income tax expense | 6 | (9,275) | (6,692) | 38.6 |
Total profit | 7 | 19,373 | 12,296 | 57.6 |
Profit attributable to: | ||||
Equity holders of the Company | 19,373 | 12,296 | 57.6 | |
Non-controlling interest | - | - | - | |
19,373 | 12,296 | 57.6 | ||
EBITDA | 34,582 | 26,496 | 30.5 | |
Earnings per ordinary share | ||||
(US cents) - Basic and | ||||
Diluted(1) | 8 | 3.17 | 2.01 | 57.6 |
Return on equity | 16.2% | 10.9% | 5.3% pt |
Note:
- Diluted earnings per share for 6 months ended 2022 and 2021 are the same as basic earnings per share as there were no potentially dilutive ordinary shares.
3
The accompanying notes form an integral part of these financial statements.
CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
The Group | ||
6 months ended | ||
30 Jun 2022 | 30 Jun 2021 | |
US$'000 | US$'000 | |
Profit for the period | 19,373 | 12,296 |
Other comprehensive (loss)/income: | ||
Items that may be reclassified subsequently to profit | ||
or loss: | ||
Foreign currency translation reserve | ||
- Currency translation differences arising from | ||
Consolidation | (8,567) | (4,690) |
Items that will not be reclassified subsequently to | ||
profit or loss: | ||
Defined pension benefit obligation | ||
- Tax on remeasurements | (154) | - |
Other comprehensive loss, net of tax | (8,721) | (4,690) |
Total comprehensive income for the period | 10,652 | 7,606 |
Total comprehensive income attributable to: | ||
Equity holders of the Company | 10,652 | 7,606 |
Non-controlling interest | - | - |
10,652 | 7,606 |
4
The accompanying notes form an integral part of these financial statements.
CONDENSED INTERIM BALANCE SHEETS
The Group | The Company | |||||
30-Jun-22 | 31-Dec-21 | 30-Jun-22 | 31-Dec-21 | |||
Notes | US$'000 | US$'000 | US$'000 | US$'000 | ||
ASSETS | ||||||
Current assets | ||||||
Cash and cash equivalents | 94,612 | 86,238 | 59,518 | 55,700 | ||
Trade receivables | 9 | 69,671 | 68,961 | 2,128 | 1,185 | |
Loan to joint venture | 60 | 60 | 60 | 60 | ||
Inventories | 9 | 67,649 | 64,837 | 160 | - | |
Rights to returned goods | 2,126 | 2,129 | - | - | ||
Income tax recoverable | 6,590 | 6,030 | - | - | ||
Other current assets | 10 | 15,030 | 10,388 | 1,198 | 512 | |
255,738 | 238,643 | 63,064 | 57,457 | |||
Non-current assets | ||||||
Investments in subsidiaries | - | - | 40,919 | 40,919 | ||
Investments in associated | ||||||
companies and joint ventures | 2,745 | 2,872 | 4,560 | 4,560 | ||
Loans to associated company and | ||||||
joint venture | 808 | 915 | - | - | ||
Property, plant and equipment | 11 | 87,496 | 96,004 | 518 | 565 | |
Intangible assets | 12 | 18,732 | 19,544 | 17,770 | 17,863 | |
Deferred income tax assets | 2,841 | 3,077 | - | - | ||
Income tax recoverable | 1,919 | 1,835 | - | - | ||
Other non-current assets | 400 | 1,006 | - | - | ||
114,941 | 125,253 | 63,767 | 63,907 | |||
Total assets | 370,679 | 363,896 | 126,831 | 121,364 | ||
LIABILITIES | ||||||
Current liabilities | ||||||
Trade payables | 40,338 | 38,013 | 1,140 | 1,175 | ||
Refund liabilities | 6,329 | 6,444 | - | - | ||
Other payables | 13 | 53,926 | 53,634 | 2,987 | 3,441 | |
Current income tax liabilities | 3,404 | 2,852 | - | - | ||
Derivative liabilities | - | 23 | - | - | ||
Borrowings | 14 | 13,247 | 10,064 | - | - | |
117,244 | 111,030 | 4,127 | 4,616 | |||
Non-current liabilities | ||||||
Other payables | 609 | 898 | 206 | 22 | ||
Deferred income tax liabilities | 1,507 | 2,037 | - | - | ||
Provisions for other liabilities and | ||||||
charges | 10,897 | 10,627 | - | - | ||
13,013 | 13,562 | 206 | 22 | |||
Total liabilities | 130,257 | 124,592 | 4,333 | 4,638 | ||
NET ASSETS | 240,422 | 239,304 | 122,498 | 116,726 | ||
EQUITY | ||||||
Capital and reserves attributable | ||||||
to equity holders of the Company | ||||||
Share capital | 95,936 | 95,936 | 95,936 | 95,936 | ||
Foreign currency translation | ||||||
Reserve | 16 | (18,796) | (10,229) | - | - | |
Other reserves | 2,344 | 2,498 | - | - | ||
Retained earnings | 160,938 | 151,099 | 26,562 | 20,790 | ||
240,422 | 239,304 | 122,498 | 116,726 | |||
Non-controlling interest | - | - | - | - | ||
TOTAL EQUITY | 240,422 | 239,304 | 122,498 | 116,726 |
5
The accompanying notes form an integral part of these financial statements.
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