Overview
Ethiopian Investment Holdings is Ethiopia's sovereign wealth fund and the holding company for close to thirty state-owned enterprises, including Ethiopian Airlines and Ethio Telecom, employing on the order of a quarter of a million people. It was incorporated as a public holding company by Proclamation No. 1263/2021 and Regulation No. 487/2022, and reports to the Office of the Prime Minister from its registered office in Arada Sub-City, Addis Ababa. Its portfolio is organised into nine sectors: transport and logistics; energy and connectivity; financial services; mining, engineering and chemicals; hospitality; trading; construction and real estate; manufacturing; and agriculture and agro-processing. Because it consolidates its subsidiaries, the figures held here are group figures and overlap with those of the individual portfolio companies.
These are the consolidated statements of the Ethiopian Investment Holdings group, covering EIH and its subsidiaries. Total income of ETB 946.32B is led by ETB 824.83B of revenue from contracts with customers, with a further ETB 88.25B of interest income and ETB 25.07B of other income, against ETB 641.03B of cost of revenue and ETB 108.97B of general and administrative expenses. Net profit for the year was ETB 91.17B, a net margin of 10%, on total assets of ETB 2.81T and equity of ETB 797.03B. The report shows no comparative prior-year column, so no year-on-year change can be stated.
SourceETB 946.32B
ETB 91.17B
ETB 2.81T
SourceETB 855.15B
Performance
Income statement
| Fiscal year | 2015EC |
|---|---|
| Total Revenue | ETB 946.32B |
| Interest Income | ETB 88.25B |
| Total Expenses | ETB 855.15B |
| Net Profit | ETB 91.17B |
| Non Interest Revenue | ETB 824.83B |
| Cost Of Revenue | ETB 641.03B |
| Interest Expense | ETB 44.73B |
| Insurance Revenue | ETB 6.24B |
| Insurance Service Expense | ETB 2.46B |
| Net Expenses From Reinsurance Contracts Held | ETB 2.45B |
| Gross Profit | ETB 228.65B |
| Investment Income | ETB 277.39M |
| Other Income | ETB 25.07B |
| Impairment Losses On Financial Assets | ETB 10.6B |
| Foreign Exchange Loss | ETB 4.51B |
| General Admin Expenses | ETB 108.97B |
| Selling Distribution Expenses | ETB 1.58B |
| Operating Profit | ETB 128.34B |
| Finance Income | ETB 1.54B |
| Finance Costs | ETB 18.76B |
| Share Of Profit Of Associates | ETB 116.84M |
| Profit Before Tax | ETB 111.23B |
| Income Tax Expense | ETB 20.06B |
| Profit Attributable To Owners | ETB 91.17B |
| Profit Attributable To Non Controlling Interest | ETB 4.57M |
| Total Comprehensive Income | ETB 100.65B |
Balance sheet
| Fiscal year | 2015EC |
|---|---|
| Total Assets | ETB 2.81T |
| Equity | ETB 797.03B |
| Non Current Assets | ETB 2.03T |
| Current Assets | ETB 775.55B |
| Property Plant And Equipment | ETB 652.95B |
| Investment Properties | ETB 61.15B |
| Right Of Use Assets | ETB 151.27B |
| Investment Securities | ETB 790.75B |
| Loans And Advances At Amortized Cost | ETB 327.93B |
| Inventories | ETB 91.82B |
| Trade And Other Receivables | ETB 359.37B |
| Cash And Cash Equivalents | ETB 309.27B |
| Total Liabilities | ETB 2.01T |
| Non Current Liabilities | ETB 1.44T |
| Current Liabilities | ETB 569.26B |
| Deposits At Amortized Cost | ETB 946.29B |
| Borrowings Non Current | ETB 337.3B |
| Lease Liabilities Non Current | ETB 121.85B |
| Trade And Other Payables | ETB 371.98B |
| Paid Up Capital | ETB 625.67B |
| Retained Earnings | ETB 71.7B |
| Foreign Currency Translation Reserve | ETB 9.46B |
| Non Controlling Interest | ETB 60.18M |
Cash flow
| Fiscal year | 2015EC |
|---|---|
| Operating | ETB 173.94B |
| Investing | -ETB 110.01B |
| Financing | -ETB 76.33B |
Financial health
Return on equity (ROE)
11.4%
Return on assets (ROA)
3.3%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Competitors
Peer institutions in the same sector, latest fiscal year.
Berhanena Selam Printing Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 422.01M
Chemical Industry Corporation
state-owned-enterprise
Net profit · 2017EC
ETB 738.37M
Development and Hotel Company S.C.
state-owned-share-company
Net profit · 2017EC
ETB 308.69M
Educational Materials Production and Distribution Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 52.08M
Ethio Post
state-owned-enterprise
Net profit · 2017EC
ETB 71.69M
Ethiopian Agricultural Business Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 1.23B
Ethiopian Airlines
state-owned-enterprise
Net profit · 2017EC
ETB 139.64B
Ethiopian Construction Works Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 773.71M
Ethiopian Electric Power
state-owned-enterprise
Net profit · 2016EC
-ETB 10.15B
Ethiopian Electric Utility
state-owned-enterprise
Net profit · 2017EC
ETB 4.05B
Ethiopian Engineering Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 598.63M
Ethiopian Industrial Inputs Development Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 614.3M
Ethiopian Lottery Service
state-owned-enterprise
Net profit · 2015EC
ETB 564.15M
Ethiopian Minerals Corporation
state-owned-enterprise
Net profit · 2016EC
-ETB 51.5M
Ethiopian Petroleum Supply Enterprise
state-owned-enterprise
Net profit · 2015EC
ETB 236.79M
Ethiopian Pulp and Paper S.C.
state-owned-enterprise
Net profit · 2017EC
ETB 6.69M
Ethiopian Railway Corporation
state-owned-enterprise
Net profit · 2013EC
-ETB 42.48B
Ethiopian Shipping and Logistics
state-owned-enterprise
Net profit · 2017EC
ETB 36.22B
Ethiopian Sugar Industry Group
state-owned-enterprise
Net profit · 2016EC
-ETB 5.3B
Ethiopian Toll Roads Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 982.35M
Ethiopian Tourist Trading Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 294.73M
Ethiopian Trading and Business Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 525.3M
Federal Housing Corporation
state-owned-enterprise
Net profit · 2017EC
ETB 1.66B
Genet Hotel
state-owned-enterprise
Net profit · 2017EC
ETB 12.81M
Ghion Hotels Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 47.62M
Industrial Parks Development Corporation
state-owned-enterprise
Net profit · 2017EC
ETB 646.67M
National Alcohol and Liquor Factory
state-owned-enterprise
Net profit · 2017EC
ETB 307.5M
National Veterinary Institute
state-owned-enterprise
Net profit · 2016EC
ETB 109.91M
Spa Service Enterprise
state-owned-enterprise
Net profit · 2016EC
ETB 43.31M