Overview
Ethiopian Trading and Business Corporation (ETBC) is a state-owned trading enterprise held by Ethiopian Investment Holdings since December 2022, formed by merging the Ethiopian Grain Trade Enterprise, Ethiopian Fruits and Vegetable Marketing S.C., Ethiopian Trading Enterprise and Procurement Services Enterprise. It supplies selected agricultural and industrial consumer commodities from local and overseas suppliers to stabilise local markets, through four business units: Grain and Coffee, Consumer Products, Fruit and Vegetable, and Procurement and Consultancy. Its financial statements are audited by Audit Services Corporation and its financial year ends on Sene 30.
Revenue fell 34% to ETB 9.65bn and profit after tax fell 53% to ETB 525.30m, as cost of sales of ETB 8.21bn left gross profit of ETB 1.27bn and administrative and general expenses rose to ETB 499.40m. Total assets rose to ETB 15.25bn while operating activities used ETB 935.08m of cash.
SourceETB 9.65B
ETB 525.3M
ETB 15.25B
SourceETB 9.12B
Performance
Income statement
| Fiscal year | 2013EC | 2014EC | 2015EC | 2016EC |
|---|---|---|---|---|
| Total Revenue | ETB 4.57B | ETB 10.51B | ETB 14.72B | ETB 9.65B |
| Total Expenses | ETB 4.51B | ETB 10.29B | ETB 13.6B | ETB 9.12B |
| Net Profit | ETB 60.04M | ETB 219.57M | ETB 1.12B | ETB 525.3M |
| Sales Revenue | ETB 4.46B | ETB 10.38B | ETB 14.43B | ETB 9.37B |
| Rent And Other Fees Income | ETB 47.31M | ETB 55.13M | ETB 192.44M | ETB 106.66M |
| Other Income | ETB 51.26M | ETB 35.31M | ETB 53.34M | ETB 114.39M |
| Exchange Gain | ETB 13.07M | ETB 38.7M | ETB 44.61M | ETB 50.24M |
| Cost Of Sales | ETB 3.97B | ETB 9.38B | ETB 12.79B | ETB 8.21B |
| Gross Profit | ETB 532.15M | ETB 1.05B | ETB 1.83B | ETB 1.27B |
| Selling And Distribution Cost | ETB 34.3M | ETB 4.44M | ETB 2.59M | ETB 7.2M |
| General Admin Expenses | ETB 311.9M | ETB 344.66M | ETB 465.93M | ETB 499.4M |
| Expected Credit Loss | ETB 63.37M | ETB 65.13M | ETB 36.62M | ETB 90.14M |
| Finance Costs | ETB 102.59M | ETB 399.07M | ETB 83.39M | ETB 48.46M |
| Profit Before Tax | ETB 84.32M | ETB 313.96M | ETB 1.3B | ETB 789.09M |
| Income Tax Expense | ETB 24.27M | ETB 94.38M | ETB 181.34M | ETB 263.79M |
| Provision For Legal Cases | — | — | ETB 37.66M | — |
Balance sheet
| Fiscal year | 2013EC | 2014EC | 2015EC | 2016EC |
|---|---|---|---|---|
| Total Assets | ETB 8.19B | ETB 12.4B | ETB 14.72B | ETB 15.25B |
| Equity | ETB 2.14B | ETB 2.21B | ETB 2.26B | ETB 2.47B |
| Non Current Assets | ETB 3.49B | ETB 3.44B | ETB 3.51B | ETB 3.88B |
| Current Assets | ETB 4.7B | ETB 8.96B | ETB 11.21B | ETB 11.37B |
| Total Liabilities | ETB 6.05B | ETB 10.18B | ETB 12.46B | ETB 12.78B |
Cash flow
| Fiscal year | 2013EC | 2014EC | 2015EC | 2016EC |
|---|---|---|---|---|
| Operating | ETB 1.98B | -ETB 3.27B | ETB 3.72B | -ETB 935.08M |
| Investing | -ETB 62.23M | -ETB 52.7M | -ETB 118.58M | -ETB 406.15M |
| Financing | -ETB 37.4M | ETB 2.66B | -ETB 1.29B | -ETB 874.73M |
Financial health
Return on equity (ROE)
21.3%
Return on assets (ROA)
3.5%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Competitors
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