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1066 1562924295465.Pdf When it comes to our raring dare to do attitude, we are boundless... Expolanka experienced a journey this year in which the company made leaps and bounds in the industry. Most notably, the freight arm of the conglomerate performed admirably in the year under review as we not only expanded our geographical presence through 4PL services but also through product diversification and explored new avenues in digitalisation. With so many novel ventures highlighted during the past year, we felt it apt to look ahead and take stock of our options; a vast horizon that lies ahead. From the depths of our solid foundation to the seemingly impossible heights of opportunity, we are limitless.. CONTENTS About this Report 04 Group Milestones 05 Financial Highlights 06 Highlights of the Year 07 Chairman’s Message 10 Group CEO’s Review 13 Sustainability Strategy 29 Financial Indicators 17 Material Topics and Topic Boundaries 30 Board of Directors 18 Stakeholder Engagement 35 Organizational Structure 71 Senior Management Team 20 Stakeholder Value Creation 38 Our Footprint 72 Group Performance 23 Capital Management Reports 39 Business Reports 74 Group Strategy 24 Financial Capital 39 Logistics Sector 74 OVERVIEW Manufactured Capital 40 Leisure Sector 81 Intellectual Capital 41 Investments Sector 85 Human Capital 44 OPERATIONAL REVIEW Natural Capital 51 Social and Relationship Capital 60 GRI Index 64 Independent assurance Report 67 INTEGRATED MANAGEMENT DISCUSSION AND ANALYSIS 02 EXPOLANKA HOLDINGS PLC - ANNUAL REPORT 2018 | 2019 Group Real Estate Portfolio 184 Five Year Summary 185 Annual Report of the Board of Directors on the Share Information 186 Affairs of the Company 119 Notice of Meeting 189 Corporate Governance 91 The Statement of Director’s Responsibility 123 Form of Proxy 191 Risk Management Report 108 Audit Committee Report 124 Corporate Information IBC Independent Auditor’s Report 127 Related Party Transactions Review SUPPLEMENTARY Statement of Financial Position 131 Committee Report 114 INFORMATION Remuneration Committee Report 116 Statement of Profit or Loss 132 Statement of Comprehensive Income 133 COMPLIANCE REPORTS Statement of Changes in Equity 134 Statement of Cash Flows 135 Notes to the Financial Statement 136 FINANCIAL REPORTS EXPOLANKA HOLDINGS PLC - ANNUAL REPORT 2018 | 2019 03 OVERVIEW ABOUT THIS REPORT [GRI 102-12, 102-46, 102-48 102- 49, 102- 50, 102- 51, 102- 52, 102-53, 102- 54, 102-56] This is Expolanka Holdings PLC’s sixth integrated annual report and covered FORWARD LOOKING STATEMENTS the reporting period 01st April 2018 to 31st March 2019. This report has This report contains certain forward-looking statements with respect to been prepared in accordance with the GRI Standards: “Core option”. Expolanka Holdings PLC’s financial condition, results, operations and businesses. These statements and forecasts involve risk and uncertainty as This report has been prepared primarily for the benefit of current and they relate to events and depend on circumstances that occur in the future. prospective investors, for representatives from government and regulatory There are various factors that could cause actual results or developments to authorities in Sri Lanka and for any other stakeholders who have an interest differ materially from those expressed or implied by these forward-looking in the Group’s performance. statements. There has been no restatement of information from the previous annual FEEDBACK report and there are no changes to the list of material topics and topic For further information or feedback please contact: boundaries. External assurance has been obtained for sustainability reporting from Ernst & Young, Chartered Accountants. The date of the Mushtaq Ahamed most recent integrated report of Expolanka Holdings PLC was for the year Director - Group Finance Expolanka Holdings PLC 2017/18. Address : 15A Clifford Avenue, Colombo 03. Email : [email protected] This Integrated Annual Report covers business activities over which Expolanka Holdings PLC has operational control, including those outside Sri Lanka. Entities that are not operationally controlled by the Group are not included in the scope of the Integrated Annual Report. REPORTING PRINCIPLES The report has been prepared in compliance with the following frameworks; 1. Listing rules of the CSE 2. The Code of Best Practice on Corporate Governance for public listed companies, jointly issued by The Institute of Chartered Accountants of Sri Lanka, The Securities and Exchange Commission of Sri Lanka and The Colombo Stock Exchange. 3. The International Integrated Reporting (IR) framework of 2013 4. GRI - Global Reporting Initiative (In accordance to the “Core” option) ASSURANCE The content included in this Integrated Report has been approved by the respective business heads and reviewed by the audit committee prior to submission to the Board of Directors for approval. In addition, Messrs.’ DIRECTORS STATEMENT OF RESPONSIBILITY FOR THIS REPORT Ernst & Young, Chartered Accountants have provided an independent We acknowledge our responsibility for ensuring the integrity of our assurance statement that further verifies the Group’s compliance with the Integrated Report 2018/2019. GRI Standards. Reflecting on our operating context, strategy and value creation model, we believe this integrated report addresses all matters that have, or could have, a material effect on our ability to create value. We have applied our collective mind to the preparation and presentation of information in this integrated report, which has been prepared in accordance with the framework. 04 EXPOLANKA HOLDINGS PLC - ANNUAL REPORT 2018 | 2019 GROUP MILESTONES 1978 Expolanka initiated as an exporter of fresh produce through incorporation of Expolanka (Pvt) Ltd 1982 Expolanka moved in to the freight sector through the incorporation of Expolanka Freight (Pvt) Ltd - Sri Lanka 1993 EFL began expansion beyond borders through establishing Expo Freight Ltd - Bangladesh 1994 Moved in to travel agency business by establishing Classic Travel (Pvt) Ltd 1996 EFL India begins operations 2003 Expolanka Holdings was established, bringing the Expolanka brand’s many investments under one umbrella 2007 Expolanka Freight (Vietnam) Ltd began operation 2009 PT Expo Freight Indonesia began operation 2011 Listed on the main board of the Colombo Stock Exchange via an Initial Public Offering 2012 Expo Freight (Shanghai) Limited began operation. Logistic Park (Pvt) Ltd initiated its operation Rebranding of Freight cluster as EFL 2013 EFL Global Freeport (Pvt) Ltd initiated operations 2014 S G Holdings Global Pte. Ltd. purchased a majority shareholding of Expolanka Holdings PLC 2018 EFL Malaysia Sdn. Bhd began operation EXPOLANKA HOLDINGS PLC - ANNUAL REPORT 2018 | 2019 05 OVERVIEW FINANCIAL HIGHLIGHTS [GRI 102-7] Revenue EBIT NPAT Logistics 95% Logistics 105% International 88% Investments 3% Investments -14% Local 12% Leisure 2% Leisure 9% REVENUE GROSS PROFIT LKR95,455Mn LKR18,100Mn 23% 32% EBIT PBT LKR3,313Mn LKR3,073Mn 74% 84% PAT LKR1,909Mn 99% 06 EXPOLANKA HOLDINGS PLC - ANNUAL REPORT 2018 | 2019 HIGHLIGHTS OF THE YEAR ISO Certification for India Warehousing Sector It was an extremely proud moment for EFL India when we received the ISO 9001:2015 Certification for 3PL, Warehousing and Distribution Services, covering all our facilities in Chennai, Mumbai, Bangalore and New Delhi. EFL facilitates significant cross-border trade between Bangladesh and India EFL achieved a significant milestone in cross-border March 2019 trade by acting as the key facilitator for the very November 2018 first bonded Cross-Border Land-Air Transshipment, on behalf of a leading European retail brand. EFL trucks from Bangladesh crossed into India with the transshipment to reach Kolkata within the stipulated time-frame. For this transshipment, the EFL offices in Bangladesh and India collaborated to affect the transfer of cargo weighing 4.1 tonnes from Bangladesh trucks into Indian trucks, which took place at the Benapole (Dhaka) – Petrapole (India) November 2018 border. The freight was moved in GPS enabled April 2018 trucks to the Kolkata airport and were airfreighted Qatar Awards to reach the final destination in Europe within the In view of their long-standing partnership with EFL, stipulated time-frame. EFL Further Expands Operations In South Africa Qatar Airways presented two awards of appreciation. EFL South Africa opened their second branch in The awards symbolize a strengthened partnership Port Elizabeth. Since the city is a hub for a range of between the two parties and continues to pave industries including automotive, shoes, metal, timber the way for an extensive future for EFL’s business and general trade, the Port Elizabeth team looks growth. forward to strengthening their business prospects within this region. LMD Brands Annual 2019 Conglomerate Brands - Expolanka reaches 11th EFL opens new office in Malaysia place based on potential brand value. EFL set up its 18th overseas operation in the October 2018 regional hub of Malaysia. April 2018 March 2019 December 2018 New Shanghai Office Mumbai team begins operations in a New Office Opening of Classic Travel Beruwala Branch To renew our presence in the largest export market Our Mumbai team recently moved to a new workspace. in the world, EFL China recently opened a new office in Shanghai. EXPOLANKA HOLDINGS PLC - ANNUAL REPORT 2018 | 2019 07 OVERVIEW HIGHLIGHTS OF THE YEAR (contd.) New Kenya Office EFL Kenya moved to a new office in Nairobi. Relocation of EFL GO EFL Global Operations
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