Genet Hotel
Overview
Genet Hotel — reporting as Catering and Tourism Training Institute – Guenet Hotel — is a state-owned hotel in Addis Ababa held by Ethiopian Investment Holdings. It operates food and beverage services, event and venue rental across 24 shops and 11 warehouses, and recreation facilities on a site of more than 22,000 square metres. It adopted IFRS as a first-time adopter with a transition date of 30 June 2021, which restated its prior-year figures.
Profit after tax nearly trebled to ETB 12.8M on almost flat revenue of ETB 62.7M: cost of sales fell by ETB 1.4M and general and administrative expenses by a further ETB 4.2M, lifting the net margin to 19%. The hotel paid a dividend of ETB 3.07M to Ethiopian Investment Holdings during the year.
SourceETB 66.37M
ETB 12.81M
ETB 1.49B
SourceETB 53.56M
Performance
Income statement
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|
| Total Revenue | ETB 26.9M | ETB 41.14M | ETB 64.32M | ETB 66.37M |
| Total Expenses | ETB 30.44M | ETB 43.35M | ETB 59.93M | ETB 53.56M |
| Net Profit | -ETB 3.54M | -ETB 2.2M | ETB 4.38M | ETB 12.81M |
| Operating Revenue | ETB 23.45M | ETB 37.21M | ETB 60.54M | ETB 62.74M |
| Other Income | ETB 3.45M | ETB 3.93M | ETB 3.78M | ETB 3.63M |
| Cost Of Sales | ETB 9.24M | ETB 13.26M | ETB 36.58M | ETB 35.18M |
| Gross Profit | ETB 14.21M | ETB 23.95M | ETB 23.96M | ETB 27.56M |
| General Admin Expenses | ETB 23.75M | ETB 31.85M | ETB 20.29M | ETB 16.06M |
| Income Tax Expense | -ETB 2.55M | -ETB 1.76M | ETB 2.99M | ETB 2.27M |
| Finance Costs | — | — | ETB 76.85K | ETB 63.14K |
Balance sheet
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|
| Total Assets | ETB 1.5B | ETB 1.48B | ETB 1.49B | ETB 1.49B |
| Equity | ETB 1.45B | ETB 1.44B | ETB 1.44B | ETB 1.45B |
| Non Current Assets | ETB 1.46B | ETB 1.45B | ETB 1.46B | ETB 1.46B |
| Current Assets | ETB 41.03M | ETB 34.39M | ETB 35.4M | ETB 36.33M |
| Total Liabilities | ETB 46.16M | ETB 48.61M | ETB 52.97M | ETB 45.56M |
Financial health
Return on equity (ROE)
0.9%
Return on assets (ROA)
0.9%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Competitors
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