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Download Report 0 eport 2 R 019/ 2 Annual VALLIBEL ONE PLC Annual Report 2019/20 www.vallibelone.com Contents Overview of the Group 02 Governance 24 Annexes 161 Corporate Governance 24 Five-year Summary – Company 162 Snapshot of 2019/20 04 Annual Report of the Group Value Added Statement 163 Board of Directors on the Financial Highlights 04 Shareholder Information 164 Affairs of the Company 30 Non-Financial Highlights 05 Subsidiary/Associate Companies of Report of the Related Party Vallibel One PLC 166 Transactions Review Committee 34 Glossary of Financial Terms 172 Directors’ Responsibility for Chairman’s Message 06 Financial Reporting 35 Notice of Annual General Meeting 173 Audit Committee Report 36 Form of Proxy Enclosed Chief Executive Officer’s Review 07 Corporate Information Inner Back Cover Board of Directors 09 Risk Management 37 Sector Review 10 Financial Reports 41 Lifestyle 10 Independent Auditors’ Report 42 Finance 12 Statement of Financial Position 45 Aluminium 14 Statement of Profit or Loss 47 Plantations 16 Statement of Comprehensive Income 48 Leisure 18 Statement of Changes in Equity 49 Consumer 20 Statement of Cash Flows 52 Investments and Others 22 Notes to the Financial Statements 54 + http://www.vallibelone.com/investor_relations/annual_reports.html Vallibel celebrates ten years of enterprise this year. As “youthful” as this figure may seem, the company has achieved a maturity and success far beyond its years. Ten years of business excellence has seen the Company build - a portfolio of diversity whose impact has been felt far and wide across the country – a repository of great employee strength and skill – a supplier network of quality and standard-driven entities. All of these strengths, delivered via high quality and diversified constituent business arms, have allowed Vallibel to make valid contribution towards the Nation, its economy and people. Vision Mission Achieve uniqueness through diversity, To run healthy core businesses, leverage leadership,creativity and inspiration. strengths into new ventures, work together with people to be Sri Lanka’s corporate leader. Overview of The Group 2 Annual Report 2019/20 VALLIBEL ONE PLC VALLIBEL ONE PLC Annual Report 2019/20 3 Established in 2010, Vallibel LKR 242 Bn. One PLC was later listed on Total Assets the Colombo Stock Exchange in 2011 and has grown to be Our continuous investments to one of Sri Lanka’s leading, strengthen the asset base with most competitive yet youngest due maintenance and upgrading. diversified conglomerates. With 47 subsidiaries in our portfolio, LKR 69 Bn. we have a significant presence Revenue across key thrust sectors including market leadership in The Group’s strategy of capacity tiles and sanitaryware, and a augmentation and value addition dominant market position in the enabled a growth in revenue despite the challenging operating landscape finance sector and in several during the year. other key sectors. Over a short span of 10 years, our Group has strived to adopt 562,000 + and uphold best practices Direct Customers in business, redefining and Nurturing relationships responsibly, improving standards in the we continue to engage our customers industries we operate in. from all “walks of life” reaching out from across the island, gaining their Our passion for innovation and confidence amidst intense competition transformative thinking, top in our operating backdrop. brands, decisive leadership along with our talented and skilled team have underpinned 13,793 our success we have achieved Direct Employees thus far in the respective sectors. We have a dynamic team — skilled, hardworking and dedicated —to reach out to our corporate aspirations 2 Annual Report 2019/20 VALLIBEL ONE PLC VALLIBEL ONE PLC Annual Report 2019/20 3 Overview of The Group LKR 16 Mn. LKR 37 Mn. Investment in Training Investment in CSR 70,167 Training Hours Well aligned to our integrated approach to value creation — 40% + Jobs created to internalised across our business young employees lines — we stand committed to be (Under 30 years) responsible and accountable to our communities and to the society Amidst emerging market at large. trends, continuing to invest in our teams across the Playing a critical role in creating Group remains significant and significant value overtime across highly warranted — essentially seven sectors, we entail our corporate underlining our progress from a reputation, brand equity, quality and long-term perspective. standards and institutional expertise. Ranked in LMD 100 among top 20 companies 5000 + and in Business Today top 30 Suppliers and One of the youngest companies in Sri Lanka, largest by profit, by shareholder funds and Business Partners by assets. We have built a solid base of Top 10 conglomerate brands in business partners, principals and Sri Lanka as ranked by Brand Finance suppliers — supporting us to be competitive at the forefront of the country’s business domain. 7 Diversified Sectors Giving us an edge in the competitive marketplace, we seek for new ways to expand our business to create wealth and add value... Snapshot of 2019/20 4 Annual Report 2019/20 VALLIBEL ONE PLC VALLIBEL ONE PLC Annual Report 2019/20 5 Financial Highlights Profitability 2019/20 2018/19 LKR Bn. Revenue LKR Mn. 68,703 66,691 75 Results from operating activities LKR Mn. 14,961 14,988 60 Profit before tax LKR Mn. 9,757 10,541 45 Profit after tax LKR Mn. 6,296 6,733 Profit attributable to the 30 owners of the parent LKR Mn. 3,794 4,041 15 Gross profit % 43.1 42.4 Profitability 21.8 22.5 0 Operating profit margin % 2017/18 2018/19 2019/20 9.2 10.1 Net profit margin % Revenue Operating profit PBT Return On Assets (ROA) % 2.6 2.9 Return On Capital Employed (ROCE) % 7.9% 9.4% Financial position Interest cover Number of times 4.9 5.6 LKR Bn. 250 2019/20 2018/19 200 Total assets LKR Mn. 242,467 229,342 150 Total liabilities LKR Mn. 162,408 154,786 Total debt LKR Mn. 55,565 52,170 100 Equity attributable to 50 equity holders of the parent LKR Mn. 53,944 50,371 80,060 74,556 0 Net worth LKR Mn. 2017/18 2018/19 2019/20 Financial position Financial 69.40 69.98 Debt/Equity % Total assets Total liabilities Equity asset ratio % 33.02 32.51 Net worth Current ratio Number of times 0.94 0.95 Quick asset ratio Number of times 0.79 0.82 Shareholder returns LKR 2019/20 2018/19 5.00 50.00 Shares in issue Number Mn. 1,087 1,087 4.00 48.00 Market value per share LKR 12.00 14.30 3.00 46.00 Earnings per share LKR 3.5 3.7 information 2.00 44.00 Net assets per share LKR 49.65 46.36 Market and Shareholder and Shareholder Market Company Market Capitalisation LKR Mn. 13,039 15,538 1.00 42.00 0 40.00 2018 2019 2020 EPS Net assets per share 4 Annual Report 2019/20 VALLIBEL ONE PLC VALLIBEL ONE PLC Annual Report 2019/20 5 Snapshot of 2019/20 Non-Financial Highlights Property plant and equipment Manufactured Capital 2019/20 2018/19 LKR Mn. Property plant and equipment LKR Mn. 50,658 49,888 60,000 2,500 Capital expenditure LKR Mn. 3,425 7,768 Depreciation and amortisation LKR Mn. 2,298 2,111 48,000 2,000 36,000 1,500 Human Capital 2019/20 2018/19 24,000 1,000 Total employees Number of: 13,793 14,473 12,000 500 Female workforce Number of: 5,000 5,128 0 0 Male workforce Number of: 8,793 9,345 2017/18 2018/19 2019/20 New recruitments Number of: 3,303 3,690 PPE Depreciation and amortisation Employees represent outside the western province Number of: 7,123 7,202 Total employees and Productivity (rev/employee) LKR Mn. 5 4.6 revenue per employee Investment in training LKR Mn. 16 32.5 No. LKR Mn. Total training hours Hours 70,167 75,125 15,000 5.25 12,000 5.00 Social and Relationship Capital 2019/20 2018/19 9,000 4.75 Rocell Showrooms Number of: 59 55 LB Finance Branches Number of: 129 127 6,000 4.50 36 36 LB Finance Gold Loan Centres Number of: 3,000 4.25 Suppliers Number of: 5,140 4,620 0 4.00 Payments to suppliers LKR Mn. 33,468 39,866 2017/18 2018/19 2019/20 Investment in CSR Initiatives LKR Mn. 37 72 Male (No.) Female (No.) Revenue per employee (LKR Mn.) Natural Capital 2019/20 2018/19 Total suppliers and Raw material consumption MT 363,033 241,983 payments to suppliers LKR Mn. Total water usage Liters Mn. 397.2 387.4 38,336 19,661 Total waste MT 50,000 5,250 40,000 5,000 30,000 4,750 20,000 4,500 10,000 4,250 0 4,000 2017/18 2018/19 2019/20 Payment amount Total suppliers Chairman's 6 Annual Report 2019/20 VALLIBEL ONE PLC VALLIBEL ONE PLC Annual Report 2019/20 7 Message Within ten years of commercial operations, we have forged ahead whilst leveraging on our capabilities, to become one of the most agile, dynamic and diversified conglomerates in Sri Lanka. Dear Shareholders, The diversity and depth of our operations Future acceptance I am delighted to share with you the due to the offering of a myriad of products celebration of a decade long journey that and services under Vallibel One has Whilst we can boldly state that we are has amplified and epitomised the spirit of enabled the Group to stand firm even in the market leader in several segments, our success. It is my pleasure to present the toughest of market condition.
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