Overview
Ethiopian Agricultural Business Corporation (EABC) is a government-owned business organization established in December 2015 by Council of Ministers Regulation No. 368/2015 and held by Ethiopian Investment Holdings. It buys and supplies agricultural inputs on domestic and international markets, processes seed, undertakes agricultural inputs market price stabilization, and runs seed supply, natural gum and forest products, agricultural equipment and mechanization, and transport administration business units. Fertiliser and seed procurement dominates its accounts: revenue from contracts with customers reached ETB 10.68 billion in the year ended 7 July 2024, against contract liabilities of ETB 10.41 billion. It reports under IFRS with a fiscal year ending 30 Sene (7 July).
Revenue from contracts with customers eased to ETB 10.68 billion in the year ended 7 July 2024, but profit after tax rose to ETB 1.23 billion because net finance cost fell from ETB 306.84M to ETB 16.33M and expected credit loss from ETB 39.99M to ETB 1.79M. Total assets grew to ETB 19.79 billion and equity to ETB 3.85 billion after paid-up capital was increased to ETB 3.71 billion. Operating cash flow of ETB 4.18 billion lifted cash and cash equivalents to ETB 6.85 billion.
SourceETB 10.76B
ETB 1.23B
ETB 19.79B
SourceETB 9.53B
Performance
Income statement
| Fiscal year | 2014EC | 2015EC | 2016EC |
|---|---|---|---|
| Total Revenue | ETB 4.89B | ETB 11.27B | ETB 10.76B |
| Total Expenses | ETB 4.69B | ETB 10.21B | ETB 9.53B |
| Net Profit | ETB 206.97M | ETB 1.06B | ETB 1.23B |
| Revenue From Contracts | ETB 4.83B | ETB 11.21B | ETB 10.68B |
| Other Income | ETB 61.82M | ETB 62.92M | ETB 79.41M |
| Cost Of Sales | ETB 3.64B | ETB 8.86B | ETB 8.49B |
| Gross Operating Profit | ETB 1.19B | ETB 2.35B | ETB 2.19B |
| Expected Credit Loss | ETB 32.76M | ETB 39.99M | ETB 1.79M |
| Selling Distribution Expenses | ETB 92.77M | ETB 147.21M | ETB 144.06M |
| General Admin Expenses | ETB 594.82M | ETB 351.95M | ETB 326.44M |
| Operating Profit | ETB 530.03M | ETB 1.87B | ETB 1.8B |
| Finance Costs | ETB 31.65M | ETB 306.84M | ETB 16.33M |
| Profit Before Tax | ETB 498.38M | ETB 1.57B | ETB 1.78B |
| Income Tax Expense | ETB 291.41M | ETB 502.47M | ETB 547.81M |
| Cash Impairment Loss | — | ETB 974.45K | ETB 1.32M |
Balance sheet
| Fiscal year | 2014EC | 2015EC | 2016EC |
|---|---|---|---|
| Total Assets | ETB 15.97B | ETB 16.52B | ETB 19.79B |
| Equity | ETB 1.64B | ETB 2.62B | ETB 3.85B |
| Non Current Assets | ETB 1.14B | ETB 1.43B | ETB 2.11B |
| Current Assets | ETB 14.83B | ETB 15.1B | ETB 17.69B |
| Inventories | ETB 6.18B | ETB 4.36B | ETB 5.63B |
| Trade And Other Receivables | ETB 3.68B | ETB 7.04B | ETB 5.15B |
| Cash And Cash Equivalents | ETB 1.79B | ETB 3.43B | ETB 6.85B |
| Total Liabilities | ETB 14.33B | ETB 13.91B | ETB 15.95B |
| Trade And Other Payables | ETB 2.25B | ETB 3.25B | ETB 4.56B |
| Contract Liabilities | ETB 11.31B | ETB 9.76B | ETB 10.41B |
| Paid Up Capital | — | — | ETB 3.71B |
Cash flow
| Fiscal year | 2014EC | 2015EC | 2016EC |
|---|---|---|---|
| Operating | ETB 983.53M | ETB 2.05B | ETB 4.18B |
| Investing | -ETB 181.3M | -ETB 372.26M | -ETB 748.98M |
| Financing | -ETB 17.4M | -ETB 36.88M | -ETB 10.43M |
Financial health
Return on equity (ROE)
32.0%
Return on assets (ROA)
6.2%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Competitors
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