Grameenphone Ltd.

Finanacial Highlights through MIS Report

td.

h MIS Report

Grameenphone Ltd.
Income Statement
Particulars
Revenue
Cost of network operations:
Direct cost of network revenue
Network operation and maintenance expenses
Depreciation and amortisation
Total Cost of network operations
Gross profit
Other income, net
Operating expenses:
General and administrative expenses
Selling and distribution expenses
Bad debt expense
Depreciation and amortisation
Total operating expenses
Operating profit
Finance costs, net
Gain/(loss) on disposal of property, plant and equipment
Gain on sale of investment
Compensation to BTRC
Share of profit of X - Net Ltd.
Profit before tax
Income tax expenses
Profit for the year
Basic earnings per share
Weighted average number of ordinary shares outstanding
during the year

2007
54,303,145,932
12,792,565,946
2,508,157,767
9,122,173,137
24,422,896,850
29,880,249,082
103,760,767
5,147,696,933
6,660,418,402
135,290,267
1,273,650,776
13,217,056,378
16,766,953,471
(948,485,684)
(101,962,955)
(2,184,242,956)
2,591,417
13,534,853,293
(10,475,013,275)
3,059,840,018
0.25
12,151,747,970

Ltd.

nt
2008

2009

61,358,978,118

65,299,567,088

14,858,520,766
4,501,457,137
13,332,231,627
32,692,209,530
28,666,768,588
52,582,628

13,256,145,333
4,773,426,129
15,048,323,189
33,077,894,651
32,221,672,437
43,258,418

5,682,107,936
5,875,351,653

6,593,087,935
3,474,969,079

1,811,925,203
13,369,384,792
15,349,966,424
(1,805,249,292)
34,126,142

1,678,664,554
11,746,721,568
20,518,209,287
(1,920,437,487)
(9,768,387)
7,960,532

(2,000,000,000)
11,578,843,274
(8,594,976,687)
2,983,866,587

18,595,963,945
(3,627,797,689)
14,968,166,256

2.46

12.08

1,215,174,797

1,239,238,201

Grameenphone Ltd.
Statement of Financial Position
Particulars
Assets
Non current assets:
Property, plant and equipment, net
Intangible assets
Investment in shares of X-Net Ltd.
Long-term receivables and deposits
Total non current assets
Current assets:
Inventories
Deferred cost of connection revenue
Accounts receivable, net
Advances, deposits and prepayments
Cash and cash equivalents
Total current assets
Total assets

2007

2008

80,318,189,542
1,275,733,440
4,467,968
11,596,466
81,609,987,416

85,553,852,589
8,193,645,543
4,467,968
12,658,694
93,764,624,794

843,646,147
357,679,797
2,725,726,115
2,119,366,225
804,635,376
6,851,053,660
88,461,041,076

407,184,697
360,712,137
4,146,483,267
2,494,777,907
7,020,671,289
14,429,829,297
108,194,454,091

2,430,349,594
13,743,987
14,446,452
1,882,996
2,139,729,365
21,510,953,768
26,111,106,162

12,151,747,970
13,743,987
14,446,452
1,882,996
2,139,729,365
13,266,605,231
27,588,156,001

3,367,620,384
557,317,602
5,315,559,235
16,510,153,280
145,694,461
8,933,591
25,905,278,553

1,907,356,334
4,216,405,145
482,653,949
5,046,935,826
18,535,226,437
164,633,966
22,122,040
30,375,333,697

8,135,600,956
5,849,623,774

4,098,581,741
11,174,424,007

Equity and Liabilities:

Shareholders' equity:
Share capital
Share premium
Capital reserve
Deposit from shareholders
General reserve
Retained earnings
Total shareholders' equity

Non-current liabilities:
Loans and borrowings, net of current portion
Bond obligation
Deposit from agents and subscribers
Finance lease obligations, net of current portion
Deferred tax liabilities
Long term payables and provisions
Employee benefits - provision for gratuity
Total non-current liabilities

Current liabilities:
Accounts payable
Payable to government and autonomous bodies

Income tax payable

Unearned revenue
VAT payable
Loans and borrowings - current portion
Finance lease obligations - current portion
Deferred connection revenue
Interest payable on loans and borrowings
Local interest bearing short-term borrowings
Provision for expenses
Advance against PPO
Liabilities for share money refund
Total current liabilities
Total equity and liabilities
Total assets
Total equity and liabilities
Total non current assets
Total current assets
Total shareholders' equity
Total non-current liabilities
Total current liabilities

8,350,371,941
1,294,707,151
2,335,718,147
1,108,679,811
1,485,227,318
617,220,271
197,615,312
4,908,835,153
2,161,056,527

10,077,565,649
1,260,211,260
2,226,760,000
1,406,260,610
1,160,709,556
474,142,173
153,997,529
4,992,322,916
9,069,346,780
4,136,642,172

36,444,656,361
88,461,041,076

50,230,964,393
108,194,454,091

2007
88,461,041,076
88,461,041,076
81,609,987,416
6,851,053,660
26,111,106,162
25,905,278,553
36,444,656,361

2008
108,194,454,091
108,194,454,091
93,764,624,794
14,429,829,297
27,588,156,001
30,375,333,697
50,230,964,393

MIS Report of Balance Sheet

120,000,000,000
100,000,000,000

Money level

80,000,000,000
60,000,000,000
40,000,000,000
20,000,000,000
Total assets
Total shareholders'
equity

0 Total equity and

liabilities
2007

Total non-current
liabilities

Total non current

Total current assets
assets
2008
2009
Total current
Years
liabilities

2009

79,287,993,919
7,681,126,893
11,635,675
86,980,756,487
430,870,209
483,550,116
4,697,066,162
1,968,937,232
14,601,313,087
22,181,736,806
109,162,493,293

13,503,000,220
7,840,225,942
14,446,452
1,880,178
2,139,729,365
26,655,044,251
50,154,326,408
917,924,127
440,948,191
5,019,805,838
13,505,914,117
160,033,350
11,454,139
20,056,079,762
4,692,964,457
9,304,514,275

12,228,778,445
1,679,152,352
2,234,779,133
1,036,943,071
541,731,926
66,356,035
7,078,349,758
88,517,671
38,952,087,123
109,162,493,293
2009
109,162,493,293
109,162,493,293
86,980,756,487
22,181,736,806
50,154,326,408
20,056,079,762
38,952,087,123

rrent assets

2009

Grameenphone Ltd.
Cash Flow Statement
Particulars

2007

Cash flows from operating activities:

Cash receipts from sales or for the performance of services
Payroll and other payments to employees
Payments to suppliers and contractors
Finance income received
Finance costs paid
Income tax paid
A. Net cash flow from operating activities
Cash flows from investing activities:
Payment for acquisition of property, plant and equipment
Proceeds from sale of property, plant and equipment
Payment for acquisition of intangible assets (software & PCM)
B. Net cash used in investing activities
Cash flows from financing activities:
Local interest bearing short-term borrowings
Proceeds from Issuance of bond
Receipt from local syndicated loan
Payment of long term borrowings
Payment of finance lease obligation
Payment of dividend
Proceeds from PPO and IPO
Proceeds from issue of shares to existing shareholders
C. Net cash flow from financing activities
D. Net changes in cash and cash equivalents(A+B+C)
E. Cash and cash equivalents at beginning
Cash and cash equivalents at closing(D+E)

54,561,148,197
(2,551,623,847)
(24,441,719,182)
140,454,372
(873,003,738)
(2,699,662,145)
(30,425,554,540)
24,135,593,657
(29,904,914,019)
62,813,546
(627,943,642)
(30,470,044,115)
4,908,835,153
2,000,000,000
(957,737,839)
(197,529,119)
(1,458,209,756)

4,295,358,439
(2,039,092,019)
2,843,727,395
804,635,376

Cash receipts from sales or for the performance of services

A. Net cash flow from operating activities
B. Net cash used in investing activities
C. Net cash flow from financing activities
Cash and cash equivalents at closing(D+E)

MIS Report of Cash flow Statement

80,000,000,000
60,000,000,000

2007
54,561,148,197
24,135,593,657
(30,470,044,115)
4,295,358,439
804,635,376

MIS Report of Cash flow Statement

80,000,000,000
60,000,000,000

Money level

40,000,000,000
20,000,000,000
0
Cash receipts from

-20,000,000,000 sales or for the

performance of
services
-40,000,000,000 C. Net cash flow from
2007
financing activities

A. Net cash flow from

operating activities
Cash and cash
equivalents 2008
at
closing(D+E)
Years

B. Net cash used in

investing activities

2009

td.

nt
2008

2009

59,519,675,251
(3,579,036,748)
(24,670,422,156)
92,672,551
(1,925,872,470)
(4,842,709,822)
(34,925,368,645)
24,594,306,606

64,925,924,469
(4,079,088,982)
(21,832,429,882)
335,144,569
(2,142,618,852)
(6,505,897,213)
(34,224,890,360)
30,701,034,109

(18,938,035,066)
76,107,923
(4,415,375,410)
(23,277,302,553)

(11,867,221,673)
40,312,438
(4,184,634,864)
(16,011,544,099)

83,487,763
4,250,000,000

(4,992,322,916)
(4,250,000,000)

(1,074,340,018)
(964,871,433)
(1,506,816,748)
4,111,572,296
4,899,031,860
6,216,035,913
804,635,376
7,020,671,289

(1,422,706,278)
(562,546,039)
(1,579,727,236)
5,698,452,575
1,682
(7,108,848,212)
7,580,641,798
7,020,671,289
14,601,313,087

2008
59,519,675,251
24,594,306,606
(23,277,302,553)
4,899,031,860
7,020,671,289

2009
64,925,924,469
30,701,034,109
(16,011,544,099)
(7,108,848,212)
14,601,313,087

Net cash used in

esting activities

2009

MIS Report
Particulars
Revenue in taka
% of revenue growth
Cost of network operations
% of Cost of network operations growth
Gross profit
% of gross profit growth
Gross profit to revenue
Net profit
% of Net Profit Growth
Net profit to Revenue
Non Current Assets
Current Assets
Current Liabilities
Shareholder's Equity
Return on Equity
Non Current asset Turnover
Current Ratio
Quick Ratio

% of revenue growth
% of Cost of network operations growth
% of gross profit growth
% of Net Profit Growth
Net profit to Revenue
Return on Equity

2007

2008

54,303,145,932

5.63%
81,609,987,416
6,851,053,660
36,444,656,361
26,111,106,162
11.72%
0.67
0.19
0.11

61,358,978,118
12.99%
32,692,209,530
33.86%
28,666,768,588
-4.06%
46.72%
2,983,866,587
-2.48%
4.86%
93,764,624,794
14,429,829,297
50,230,964,393
27,588,156,001
10.82%
0.65
0.29
0.20

2007
0.00%
0.00%
0.00%
0.00%
5.63%
11.72%

2008
12.99%
33.86%
-4.06%
-2.48%
4.86%
10.82%

24,422,896,850
29,880,249,082
55.02%
3,059,840,018

MIS Report
450.00%
400.00%
350.00%
300.00%

Value

250.00%
200.00%
150.00%
100.00%
50.00%
0.00%
-50.00%
% of gross profit growth

Value

250.00%
200.00%
150.00%
100.00%
50.00%
0.00%
-50.00%
% of revenue growth

% of gross profit growth

Net profit to Revenue

Particulers
2007

Non Current asset Turnover

Current Ratio
Quick Ratio

2008

2007

2008

0.67
0.19
0.11

0.65
0.29
0.20

MIS Report on Balance Sheet

0.80

Value

0.60
0.40
0.20
0.00
2007

2008

2009

Years
Non Current
asset
Turnover

Current Ratio

2009

Quick Ratio

rt

owth

2009
65,299,567,088
6.42%
33,077,894,651
1.18%
32,221,672,437
12.40%
49.34%
14,968,166,256
401.64%
22.92%
86,980,756,487
22,181,736,806
38,952,087,123
50,154,326,408
29.84%
0.75
0.57
0.45

2009
6.42%
1.18%
12.40%
401.64%
22.92%
29.84%

owth

Net profit to Revenue

s
2009

2009
0.75
0.57
0.45