AI assistant
Essentially Group Plc Earnings Release 2022
5990_er_2023-06-30_11994d8c-6bad-422e-86f9-be9a5a69f698.html
Earnings Release
Open in viewerOpens in your device viewer
National Storage Mechanism | Additional information 
RNS Number : 4558E
Essentially Group PLC
30 June 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
30 June 2023
Essentially Group PLC
(the "Company" or "Essentially")
Summary Final Results of Operating Company
Essentially Group PLC, a leading health food company in the UAE delivering high quality nutrition (wellness shots, functional juices, lemonades, nut milks, single origin fruit juices and healthy snacks) to its customers, is pleased to announce a summary of the final results for its operating company, Essentially Juices manufacturing LLC ("EJM") for the year ended 31 December 2022. Furthermore, the Company confirms that it has changed its year end to 31 December as per the announcement on 15 June 2023.
Raja Wail Abuljebain, Chief Executive Officer of Essentially, commented: "The annual results demonstrate our ability to capitalize on the UAE's thriving consumer economy and the increasing demand for nutritious juices and snacks. With the country's continued economic growth, a booming tourism industry, and the expanding presence of Western companies in the region, we are poised to seize even greater opportunities. We remain committed to innovation, strategic partnerships, and continuous improvement, as we strive to further expand our product offerings, enhance our market presence, and deliver exceptional value to our customers. The future holds immense promise, and we are energized and determined to realize the full potential of Essentially as a leading player in the UAE's dynamic business landscape."
The Directors accept responsibility for this announcement.
- end -
For further information, please contact:
| Essentially Group Plc | |
| Raja W Abuljebain, CEO | Tel: +97156 6440676 |
| https://essentiallyplc.com | |
| AQSE Exchange Corporate Adviser | |
| Alfred Henry Corporate Finance Ltd | |
| Nick Michaels | Tel: +44 (0) 20 3772 0021 |
| www.alfredhenry.com | |
| Broker | |
| Clear Capital Markets Ltd | |
| Andrew Blaylock | Tel: +44 (0)20 3869 6082 |
| https://clearcapitalmarkets.co.uk |
Summary of Final Results for EJM
| ESSENTIALLY JUICES MANUFACTURING L.L.C | ||||
| Dubai - United Arab Emirates | ||||
| Statement of financial position | ||||
| As at December 31, 2022 | ||||
| 2022 | 2021 | |||
| ASSETS | AED | AED | ||
| Current assets | ||||
| Cash and cash equivalents | 124,444 | 146,734 | ||
| Trade receivables | 683,721 | 492,411 | ||
| Other receivables | 309,984 | 255,879 | ||
| Inventories | 99,489 73,241 | |||
| Total current assets | 1,217,638 | 968,265 | ||
| Non-current assets | ||||
| Property and equipment | 4,193,309 | 1,953,536 | ||
| Right-of-use asset | 665,721 | 1,109,533 | ||
| Intangible assets | 5,790 | 26,541 | ||
| Total non-current assets | 4,864,820 | 3,089,610 | ||
| TOTAL ASSETS | 6,082,458 | 4,057,875 | ||
| LIABILITIES AND EQUITY | ||||
| Current liabilities | ||||
| Trade and other payables | 1,304,129 | 721,844 | ||
| Interest bearing loans and borrowings | 145,546 | 115,530 | ||
| Lease liabilities | 456,635 | 396,971 | ||
| 1,906,310 | 1,234,345 | |||
| Non-current liabilities | ||||
| Loan from Shareholder | 3,150,000 | |||
| Interest bearing loans and borrowings | 200,608 | 344,255 | ||
| Lease liabilities | 253,444 | 710,078 | ||
| Employees· end-of-service benefits | 87,556 | 30,734 | ||
| 3,691,608 | 1,085,067 | |||
| Total liabilities | 5,597,918 | 2,319,412 | ||
| Equity | ||||
| Share capital | 300,000 | 300,000 | ||
| (Accumulated losses) | (8,437,072) | (6,479,244) | ||
| Total equity | (8,137,072) | (6,179,244) | ||
| Shareholder's account | 8,621,612 | 7,917,707 | ||
| Total Shareholders' funds | 484,540 | 1,738,463 | ||
| TOTAL LIABILITIES AND EQUITY | 6,082,458 | 4,057,875 |
| Statement of comprehensive income For the year ended December 31, 2022 |
|||
| 2022 AED |
2021 AED |
||
| Revenue | 4,665,305 | 3,311,901 | |
| Cost of goods sold | (2,747,790) | (1,839,008) | |
| Gross profit | 1,917,515 | 1,472,893 | |
| Other income | 4,166 | ||
| General, administrative and selling expenses | (3,513,053) | (2,583,879) | |
| Finance costs | (366,456) | (164,061) | |
| (Loss) for the year | (1,957,828) | (1,275,047) | |
| Other comprehensive income | |||
| Total comprehensive (loss) for the year | (1,957,828) | (1,275,047) |
Statement of cash flows
For the year ended December 31, 2022
| Cash flows from operating activities | 2022 AED |
2021 AED |
|
| (Loss) for the year | |||
| Adjustments for: | (1,957,828) | (1,275,047) | |
| Depreciation of property and equipment | 480,007 | 178,296 | |
| Provision for employees· end-of-services benefits | 91,311 | 31,510 | |
| Depreciation of right-of-use asset | 443,812 | 221,906 | |
| Amortisation of intangible assets | 20,751 | 26,322 | |
| Finance costs | 366,456 | 164,061 | |
| Operating (loss) before working capital changes | (555,491) | (652,952) | |
| (Increase) in trade receivables | (191,310) | (76,645) | |
| (Increase) in other receivables | (54,105) | (70,841) | |
| (Increase) in inventories | (26,248) | (7,603) | |
| Increase in trade and other payables | 450,244 | 119,720 | |
| Cash (used in) operations | (376,910) | (688,321) | |
| Employees· end-of-services benefits paid | (34,489) | (57,779) | |
| Finance costs paid | (97,255) | (121,386) | |
| Net cash (used in) operating activities | (508,654) | (867,486) | |
| Cash flows from investing activities | |||
| Acquisition of property and equipment | (2,719,780) | (1,487,385) | |
| Net cash (used in) investing activities | (2,719,780) | (1,487,385) | |
| Cash flows from financing activities | |||
| Loan from Shareholder | 3,150,000 | ||
| Movement in Shareholder's account | 703,905 | 2,333,047 | |
| Net movement in interest-bearing loans and borrowings | (113,631) | 274,893 | |
| Lease payments | (534,130) | (267,065) | |
| Net cash generated from financing activities | 3,206,144 | 2,340,875 | |
| Net (decrease) in cash and cash equivalents | (22,290) | (13,996) | |
| Cash and cash equivalents at the beginning of the year | 146,734 | 160,730 | |
| Cash and cash equivalents at the end of the year | 124,444 | 146,734 | |
| Non-cash transactions: | |||
| Interest on loan from shareholder included in accruals and other payables | 132,041 | ||
| Right-of-use asset capitalized and lease liability recognised | 1,331,439 |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
NEXUKRBROBUNUAR