Overview
Ethiopian Engineering Corporation is a state-owned construction and engineering-consultancy corporation held by Ethiopian Investment Holdings, and reported as Ethiopian Construction Design and Supervision Works Corporation until the year ended 30 June 2024. It runs a construction unit alongside consultancy sectors covering water and energy, building and urban design and supervision, geotechnical investigation and underground works, a surveying, geospatial and civil informatics centre, and a research, laboratory and training centre. It reports under IFRS with a 30 June year end and is audited by Audit Service Corporation under the Office of the Federal Auditor General; paid-up capital stood at ETB 1.11B at 30 June 2024.
Trading as Ethiopian Engineering Corporation for the first reported year, revenue rose to ETB 4.90B and profit after tax to ETB 598.6M, a net margin of 12%. Total assets reached ETB 5.70B against total liabilities of ETB 4.11B, and the corporation paid a dividend of ETB 70.0M during the year.
SourceETB 4.94B
ETB 598.63M
ETB 5.7B
SourceETB 4.34B
Performance
Income statement
| Fiscal year | 2011EC | 2012EC | 2013EC | 2014EC | 2015EC | 2016EC |
|---|---|---|---|---|---|---|
| Total Revenue | ETB 786.12M | ETB 707.56M | ETB 938.12M | ETB 1.21B | ETB 2.63B | ETB 4.94B |
| Total Expenses | ETB 594.38M | ETB 678.35M | ETB 767.5M | ETB 1.02B | ETB 2.43B | ETB 4.34B |
| Net Profit | ETB 191.74M | ETB 29.21M | ETB 170.62M | ETB 184.41M | ETB 197.39M | ETB 598.63M |
| Operating Revenue | ETB 759.64M | ETB 675.96M | ETB 911.49M | ETB 1.17B | ETB 2.6B | ETB 4.9B |
| Other Income | ETB 26.48M | ETB 31.6M | ETB 26.63M | ETB 32.42M | ETB 26.6M | ETB 32.02M |
| Cost Of Sales | ETB 324.62M | ETB 422.38M | ETB 441.39M | ETB 610.61M | ETB 1.87B | ETB 3.52B |
| Gross Profit | ETB 435.03M | ETB 253.58M | ETB 470.1M | ETB 563.31M | ETB 736.36M | ETB 1.39B |
| General Admin Expenses | ETB 212.68M | ETB 204.93M | ETB 241.1M | ETB 322.54M | ETB 450.86M | ETB 519.25M |
| Provision For Credit Losses | -ETB 26.13M | ETB 34.89M | ETB 10.91M | ETB 8.96M | ETB 22.46M | ETB 38.5M |
| Profit Before Tax | ETB 274.95M | ETB 45.36M | ETB 244.72M | ETB 264.24M | ETB 289.64M | ETB 859.33M |
| Income Tax Expense | ETB 83.21M | ETB 16.15M | ETB 74.1M | ETB 79.82M | ETB 92.24M | ETB 260.69M |
Balance sheet
| Fiscal year | 2011EC | 2012EC | 2013EC | 2014EC | 2015EC | 2016EC |
|---|---|---|---|---|---|---|
| Total Assets | ETB 1.4B | ETB 1.41B | ETB 1.71B | ETB 2.08B | ETB 3.21B | ETB 5.7B |
| Equity | ETB 959.66M | ETB 988.87M | ETB 1.16B | ETB 1.33B | ETB 1.39B | ETB 1.59B |
| Non Current Assets | ETB 379.89M | ETB 438.01M | ETB 531.27M | ETB 670.65M | ETB 834.12M | ETB 1.04B |
| Current Assets | ETB 1.02B | ETB 969.6M | ETB 1.18B | ETB 1.41B | ETB 2.38B | ETB 4.66B |
| Total Liabilities | ETB 437.84M | ETB 418.74M | ETB 554.9M | ETB 755.82M | ETB 1.82B | ETB 4.11B |
Cash flow
| Fiscal year | 2011EC | 2012EC | 2013EC | 2014EC | 2015EC | 2016EC |
|---|---|---|---|---|---|---|
| Operating | -ETB 19.3M | ETB 110.91M | ETB 60.09M | ETB 402.01M | ETB 119.43M | ETB 966.4M |
| Investing | -ETB 41.92M | -ETB 67.61M | -ETB 119.9M | -ETB 183.46M | -ETB 194.54M | -ETB 253.54M |
| Financing | ETB 554.12K | ETB 13.24M | ETB 6.84M | ETB 6.93M | ETB 2.29M | -ETB 64.37M |
Financial health
Return on equity (ROE)
37.6%
Return on assets (ROA)
10.5%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Competitors
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