Ethiopian Pulp and Paper S.C.
Overview
Ethiopian Pulp and Paper Share Company, established in 1995 E.C. and held by Ethiopian Investment Holdings, manufactures paper and corrugated carton boxes for Ethiopian industry. Its statements report a single sales line covering writing and printing paper, wrapping and board paper, and carton box raw materials, alongside other income from land and house rentals, furnace sales and agricultural activity. The company reported losses in the years ended 30 June 2022, 2023 and 2024 and returned to profit in the year ended 30 June 2025; paid-up capital was raised from ETB 10.00M to ETB 165.80M during the year ended 30 June 2024.
Sales rose to ETB 148.30M and other income to ETB 19.00M, the latter including ETB 6.70M from furnace sales, lifting total income to ETB 167.29M. Profit before taxation of ETB 13.23M, less a taxation provision of ETB 6.54M, gave profit after taxation of ETB 6.69M against a loss of ETB 0.50M a year earlier, a net margin of 4%. ETB 0.33M was transferred to legal reserve.
SourceETB 167.29M
ETB 6.69M
ETB 500.2M
SourceETB 160.6M
Performance
Income statement
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|
| Total Revenue | ETB 140.1M | ETB 141.61M | ETB 129.94M | ETB 167.29M |
| Total Expenses | ETB 142.81M | ETB 147.66M | ETB 130.44M | ETB 160.6M |
| Net Profit | -ETB 2.71M | -ETB 6.05M | -ETB 503.37K | ETB 6.69M |
| Sales | ETB 138.98M | ETB 140.91M | ETB 126.47M | ETB 148.3M |
| Other Income | ETB 1.12M | ETB 697.72K | ETB 3.47M | ETB 19M |
| Cost Of Sales | ETB 109.55M | ETB 116.71M | ETB 94.7M | ETB 114.82M |
| Gross Profit | ETB 29.43M | ETB 24.2M | ETB 31.77M | ETB 33.48M |
| General Admin Expenses | ETB 20.81M | ETB 20.67M | ETB 21.92M | ETB 26.82M |
| Selling And Distribution Expenses | ETB 6.81M | ETB 5.7M | ETB 6.12M | ETB 6.11M |
| Finance Costs | ETB 4.89M | ETB 3.89M | ETB 4.18M | ETB 5.79M |
| Board And Auditors Fee | ETB 751.5K | ETB 686.32K | ETB 600.59K | ETB 521.59K |
| Profit Before Tax | -ETB 2.71M | -ETB 6.05M | ETB 2.42M | ETB 13.23M |
| Income Tax Expense | ETB 0 | ETB 0 | ETB 2.93M | ETB 6.54M |
| Legal Reserve Transfer | — | — | — | ETB 334.54K |
Balance sheet
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|
| Total Assets | ETB 488.32M | ETB 495.47M | ETB 503.39M | ETB 500.2M |
| Equity | ETB 247.15M | ETB 234.13M | ETB 333.29M | ETB 333.94M |
| Non Current Assets | ETB 283.54M | ETB 272.61M | ETB 268.3M | ETB 265.3M |
| Current Assets | ETB 204.78M | ETB 222.86M | ETB 235.09M | ETB 234.9M |
| Total Liabilities | ETB 241.17M | ETB 261.34M | ETB 170.11M | ETB 166.26M |
| Current Liabilities | ETB 55.81M | ETB 77.54M | ETB 86.02M | ETB 92.29M |
| Non Current Liabilities | ETB 185.36M | ETB 183.81M | ETB 84.09M | ETB 73.98M |
| Paid Up Capital | ETB 10M | ETB 10M | ETB 165.8M | ETB 165.8M |
| Retained Earnings | ETB 42.24M | ETB 29.22M | -ETB 27.42M | -ETB 27.11M |
Cash flow
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|
| Operating | ETB 6.83M | -ETB 2.95M | -ETB 13.25M | ETB 35.2M |
| Investing | -ETB 5.47M | -ETB 939.91K | -ETB 7.64M | -ETB 10.03M |
| Financing | -ETB 5.86M | -ETB 5.69M | ETB 22.93M | -ETB 19.58M |
Financial health
Return on equity (ROE)
2.0%
Return on assets (ROA)
1.3%
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 Investment Holdings
state-owned-enterprise
Net profit · 2015EC
ETB 91.17B
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 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