INDUSTRIAL & MEDICAL GASES NIGERIA: QUARTER 1 – 2022 FINANCIAL STATEMENTS







Condensed results for the 1st quarter of 2022

INDUSTRIAL AND MEDICAL GASES NIGERIA PLC

RC 2035

PAGE CONTENT

Page

Statement of net income and other comprehensive income

1

Statement of financial position

2

Cash flow statement

3

Statement of changes in equity

4

Notes to the financial statements

5-7

Industrial and Medical Gases Nigeria Plc QTR 1 FY 2022 Unaudited Financial Statements

REPORT TO THE NIGERIAN STOCK EXCHANGE

Industrial and Medical Gases Nigeria plc

Summary statement of comprehensive income

Unaudited

Unaudited

Checked

Remarks

January-March 2022

January-March 2021

January- December 2021

=N=’000

=N=’000

Revenue

15

1,127,882

778 486

3,699,230

Cost of sales

(512,041)

(427,612)

(1,677,381)

Gross profit

615 841

350,875

2,021,849

Other income

16

8,781

8,268

28,528

Other expenses

(4,644)

(4,464)

(10,774)

Selling and distribution costs

17

(190,378)

(104,536)

(680,267)

Administrative expenses

(221,977)

(142,548)

(863,797)

Operating result

207,623

107,595

495,539

Financial products

18

23,582

2,268

62,794

Financial cost

(39,217)

(22,810)

(6,137)

Profit before income tax

191,988

87,053

552 196

Income tax (provision)

(61,410)

(26,831)

(180 177)

Net profit for the 3 months

130,578

60,222

372,019

The other extended result

Actuarial gain of the defined benefit plan

Tax on the actuarial gain

Total overall result for the 3 months

130,578

60,222

372,019

Basic and diluted earnings per share (kobo)

31

14

89

Industrial and Medical Gases Nigeria Plc QTR 1 FY 2022 Unaudited Financial Statements

Industrial and Medical Gases Nigeria plc

Condensed Statement of Financial Position

Unaudited

January-March 2022

January-December 2021

ASSETS

=N=’000

=N=’000

Non-current assets

Fixed assets

ten

2,165,858

2,084,838

Asset Use Rights

Other tax assets

88,748

34,047

Deposits and other assets

2,254,605

2,118,885

Inventories

11

578 254

493,039

Customers and other debtors

673,846

489,815

Installments

216 102

189 132

Other tax assets

287,856

287,856

Cash and cash equivalents

1,526,553

2,017,284

3,282,612

3,477,126

Total assets

5,537,217

5,596,011

Equity and liabilities

Equity

Share the capital

208 122

208 122

General reserve

2,975,095

2,844,517

Other reserves

436

436

Total equity

3,183,654

3,053,075

Non-current liabilities

Benefits liability

12

19,925

19,925

Deferred tax liabilities

391,659

391,659

411 584

411 584

Current liabilities

Current tax debts

386,802

325 394

Commercial creditors

735 717

557 114

Other creditors and accrued liabilities

13

468,731

407 305

Provision

56,764

56,764

Contractual responsibility

160,632

141,038

Dividend payable

133 333

133 333

Amount due to related companies

14

510 404

1,941,980

2,131,352

Total responsibilities

2,353,564

2,542,936

Total equity and liabilities

5,537,217

5,596,011

Checked

These financial statements were approved by the Board of Directors on April 20, 2022 and signed in its name by:

Industrial and Medical Gases Nigeria Plc QTR 1 FY 2022 Unaudited Financial Statements

Industrial and Medical Gases Nigeria plc

Condensed cash flow statement

January-March 2022

January-December 2021

=N=’000

=N=’000

Cash flow from operating activities

Profit before income tax

207,623

495,539

Adjustments for non-monetary items:

Depreciation

68,260

270,012

Profit from fixed asset sales

(1,103)

Change in working capital:

Inventories

(85,215)

(60,137)

Customers and other debtors

(238,732)

(43,716)

Suppliers and other creditors

178,603

178,307

Accounts of related companies

(510,404)

Installments

(26,970)

137 106

Other current liabilities

81,020

51,718

Right of use

80 293

Rental debts

(108,600)

Income tax paid

(84,278)

Net cash from operating activities

(325,815)

915 141

Cash flow from investing activities

Purchase of fixed assets

(149,281)

(187,782)

Proceeds from sale of fixed assets

1,118

Interest received

23,582

62,794

Net cash provided by investing activities

(125,699)

(123,870)

Cash flow from financing activities

Dividend paid

(412,557)

Debit interest – lease

(39,217)

(4,782)

Net cash provided by financing activities

(39,217)

(417,339)

Net (decrease)/increase in cash and cash equivalents

(490,731)

373,932

Cash and cash equivalents as of January 1

2,017,284

1,643,352

Cash and cash equivalents as of December 31

1,526,553

2,017,284

Industrial and Medical Gases Nigeria Plc QTR 1 FY 2022 Unaudited Financial Statements

Industrial and Medical Gases Nigeria plc

Condensed statement of changes in equity

Share the capital

Retained earnings

Balance as of January 1

=N=’000

=N=’000

Balance as of January 1, 2022

208 122

2,844,953

Profit for the period

130,578

The other extended result

Transactions with shareholders:

Unclaimed dividends are now statute barred

Dividends paid/declared

Balance as of March 31, 2022

208 122

2,975,531

Balance as of January 1, 2021

208 122

2,671,118

Profit for the period

372,019

Other comprehensive income – Actuarial gain

436

Transactions with shareholders:

Unclaimed dividends are now statute barred

9,502

Dividends paid/declared

(208,122)

Balance as of December 31, 2021

208 122

2,844,953

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Industrial and Medical Gases Nigeria plc published this content on April 22, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Apr 22, 2022 05:57:08 UTC.

Public now 2022

All news from INDUSTRIAL AND MEDICAL GAS NIGERIA PLC

Sales 2021 3,699 million
8.90M
8.90M
Net income 2021 368M
0.89M
0.89M
Net cash 2021 2,017m
4.86 million
4.86 million
PER 2021 ratio 10.7x
2021 performance
Capitalization 3,580 million
8.62 million
8.62 million
EV / Sales 2020 0.77x
EV / Sales 2021 0.52x
# of employees 82
Floating 93.5%

Chart INDUSTRIAL AND MEDICAL GASES NIGERIA PLC


Duration :

Period :




Evolution of the income statement


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