Consolidated statement of financial position as at December 31, 2024
Notes
2024
2023
AED’000
AED’000
ASSETS
Non‑current assets
Vessels, property and equipment
6
531,873
516,211
Goodwill
7
143,463
143,463
Deferred tax asset
8
1,970
‑
Total non‑current assets
677,306
659,674
Current assets
Inventories
9
10,433
9,084
Trade receivables, net
11
14,104
15,552
Advances and other assets
11
31,869
7,592
Financial assets at fair value through profit or loss
12
701
100,379
Cash and bank balances
13
5,195
210,059
Total current assets
62,302
342,666
TOTAL ASSETS
739,608
1,002,340
EQUITY AND LIABILITIES
Equity
Share capital
14
837,696
837,696
Share (discount)/premium
14, 16
(12,741)
35,734
Treasury shares
16
(243,046)
(96,281)
Statutory reserve
15
2,128
2,128
Accumulated losses
(22,654)
(2,570)
Other reserves
17
(181,071)
(181,071)
Total equity
380,312
595,636
Non‑current liabilities
Interest‑bearing borrowings
18
72,706
94,163
Provision for employees’ end‑of‑service benefits
19
1,011
1,255
Total non‑current liabilities
73,717
95,418
Current liabilities
Interest‑bearing borrowings
18
20,899
25,684
Bank overdraft
18
‑
180,187
Trade and other payables
20
264,680
105,415
Total current liabilities
285,579
311,286
Total liabilities
359,296
406,704
TOTAL EQUITY AND LIABILITIES
739,608
1,002,340
These consolidated financial statements were approved and authorised for issue by the Board of Directors on March 27, 2025 and were signed on its behalf by:
Dr. Abdul Rahman Al Afifi
BOARD MEMBER
Mr. Ahmad “M.F.” A. Al Kilani
CHIEF EXECUTIVE OFFICER
Mr. Ali Abouda
CHIEF FINANCIAL OFFICER
The accompanying notes 1 to 32 form an integral part of these consolidated financial statements.
