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Brighter Together Brighter together Audited Financial Information for the year ended 31 March 2021 Salient Features INFLATION ADJUSTED HISTORIC COST Group Statement of Comprehensive Income Increased by 39% Increased by 692% Revenue to ZW$ 40,45 billion to ZW$ 33,21 billion INFLATION ADJUSTED * HISTORIC COST AUDITED AUDITED AUDITED AUDITED Increased by 47% Increased by 557% Year Ended Year Ended Year Ended Year Ended 31 March 31 March 31 March 31 March Operating Income to ZW$ 10,71 billion to ZW$ 8,65 billion 2021 2020 2021 2020 ZW$ 000 ZW$ 000 ZW$ 000 ZW$ 000 Increased by 37% Increased by 547% Revenue 40 446 986 29 074 811 33 206 284 4 193 260 EBITDA to ZW$ 12,15 billion to ZW$ 9,15 billion Operating income 10 713 853 7 279 072 8 646 267 1 316 777 Finance charges (128 576 ) (545 479 ) (68 872 ) (82 151 ) Increased by 47% Increased by 605% Finance income 401 424 225 313 381 133 37 567 Headline Earnings per share to ZW$ 471,02 cents to ZW$ 575,11 cents Exchange Losses (804 307 ) (80 425 ) (191 540 ) (4 148 ) Movement in legacy debt (316 632 ) (174 662 ) (316 632 ) (51 288 ) Increased by 55% Increased by 584% Monetary loss (1 491 181 ) (2 001 835 ) — — Attributable Earnings per share to ZW$ 525,50 cents to ZW$ 624,84 cents Share of profit of associates 777 397 367 302 583 419 34 568 Profit before tax 9 151 978 5 069 286 9 033 775 1 251 325 Income tax expense (2 768 393 ) (1 394 773 ) (1 534 948 ) (213 383 ) Interim dividend paid Interim dividend paid Profit for the year 6 383 585 3 674 513 7 498 827 1 037 942 Dividend per share ZW$ 45,00 cents ZW$ 45,00 cents Other comprehensive income 699 948 257 985 638 935 125 380 Final dividend declared Final dividend declared ZW$ 105,00 cents ZW$ 105,00 cents Comprehensive income for the year 7 083 533 3 932 498 8 137 762 1 163 322 Profit for the year attributable to: Owners of the parent 6 752 043 4 337 251 8 028 492 1 165 564 Group Statement of Financial Position Non controlling interest 331 490 (404 753 ) 109 270 (2 242 ) INFLATION ADJUSTED * HISTORIC COST 7 083 533 3 932 498 8 137 762 1 163 322 AUDITED AUDITED AUDITED AUDITED Weighted average shares in issue (millions) 1 284,9 1 275,5 1 284,9 1 275,5 As At As At As At As At 31 March 31 March 31 March 31 March Earnings per share (ZW$ cents) 2021 2020 2021 2020 Headline earning basis 471,02 319,81 575,11 81,55 ZW$ 000 ZW$ 000 ZW$ 000 ZW$ 000 Attributable earnings basis 525,50 340,03 624,84 91,38 ASSETS Non-current assets Group Statement of Cash Flows Property, plant and equipment 23 236 368 19 992 473 7 259 288 1 642 092 Right-of-use asset 119 739 87 682 59 622 25 747 INFLATION ADJUSTED * HISTORIC COST Investments in associates 2 301 963 1 524 535 661 755 78 336 AUDITED AUDITED AUDITED AUDITED Intangible assets - Trademarks and Goodwill 4 362 173 1 635 279 2 788 743 61 849 As At As At As At As At Investments and loans 489 192 283 233 489 192 83 169 31 March 31 March 31 March 31 March 2021 2020 2021 2020 30 509 435 23 523 202 11 258 600 1 891 193 ZW$ 000 ZW$ 000 ZW$ 000 ZW$ 000 Current assets Inventories 7 667 510 4 477 562 4 457 412 764 725 Cash flow from operating activities Trade and other receivables 1 777 488 1 220 869 1 777 488 364 571 Cash generated from operating activities 11 538 015 7 192 316 7 397 243 875 741 Other assets 2 690 266 2 839 456 2 287 822 568 376 Increase in working capital (2 508 351 ) (5 669 740 ) (1 957 065 ) (477 521 ) Current tax asset 36 478 47 718 36 478 15 685 Cash generated from operations 9 029 664 1 522 576 5 440 178 398 220 Financial Asset at fair value 1 615 828 5 419 110 1 615 828 1 591 273 Finance cost (128 576 ) (545 479 ) (68 872 ) (82 151 ) Cash and cash equivalents 1 767 813 763 632 1 767 813 225 203 Finance income 401 424 225 313 381 133 37 567 15 555 383 14 768 347 11 942 841 3 529 833 Foreign exchange losses (1 120 939 ) (255 090 ) (508 172 ) (55 436 ) TOTAL ASSETS 46 064 818 38 291 549 23 201 441 5 421 026 Effects of IAS 29 (1 816 356) (6 008 847 ) — — Income taxes paid (1 228 513 ) (121 247 ) (1 110 168) (21 713 ) EQUITY AND LIABILITIES Net cash flow from / (utilised in) Capital and reserves operating activities 5 136 704 (5 182 774 ) 4 134 099 276 487 Issued share capital 337 202 337 061 12 865 12 789 Cash flow from investing activities Share premium 2 278 001 2 275 496 88 565 87 125 Increase in loans and investments (205 959 ) (56 143 ) (406 023 ) (74 580 ) Share option reserve 214 159 149 438 41 042 9 696 Purchase of shares in subsidiary and brands (2 048 808 ) — (601 614 ) — Foreign currency translation reserve 1 157 973 217 545 799 008 132 714 Purchase of property, plant and equipment Retained earnings and other reserves 22 030 437 18 260 296 6 961 015 1 552 359 to expand operations (1 827 130 ) (603 437 ) (1 643 040 ) (105 592 ) Equity attributed to equity holders of the parent 26 017 772 21 239 836 7 902 495 1 794 683 Purchase of property, plant and equipment Non-controlling interests 757 381 431 956 105 496 23 584 to mantain operations (622 766 ) (171 509 ) (588 683 ) (50 362 ) Shareholders’ equity 26 775 153 21 671 792 8 007 991 1 818 267 Proceeds from disposal of property, Non-current liabilities plant and equipment 56 588 28 378 56 588 6 418 Long term borrowings 1 663 989 184 599 1 663 989 36 397 Net cash flow utilised in investing activities (4 648 075 ) (802 711 ) (3 182 772 ) (224 116 ) Deferred tax liabilities 5 087 873 3 620 230 1 008 175 166 619 Cash flow from financing activities 6 751 862 3 804 829 2 672 164 203 016 Dividends paid (676 971 ) (272 570 ) (600 111 ) (54 650 ) Current liabilities Repayment of borrowings (627 495 ) (43 252 ) (627 495 ) (40 827 ) Short term borrowings 1 361 955 4 220 827 1 361 955 1 254 326 Loans raised 1 836 041 — 1 836 041 — Lease liability 193 640 96 822 177 123 28 431 Increase in shareholder funding 2 645 82 352 1 516 4 218 Trade and other payables 7 174 816 5 909 367 7 174 816 1 357 069 Share buy back (18 668 ) — (18 668 ) — Provisions 1 880 251 1 800 689 1 880 251 528 756 Net cash generated / (utilised) Dividend payable 1 444 861 293 038 1 444 861 86 048 in financing activities 515 551 (233 470 ) 591 283 (91 259 ) Current tax liability 482 280 494 185 482 280 145 113 12 537 803 12 814 928 12 521 286 3 399 743 Net increase /(decrease) in cash TOTAL EQUITY AND LIABILITIES 46 064 818 38 291 549 23 201 441 5 421 026 and cash equivalents 1 004 181 (6 218 955 ) 1 542 610 (38 888 ) Cash and cash equivalents at beginning of year 763 632 6 982 587 225 203 264 091 Net asset value per share (ZW$ cents) 2 027,08 1 665,17 615,69 140,70 Cash and cash equivalents at end of the year 1 767 813 763 632 1 767 813 225 203 We Are Delta Corporation - Brighter Together Audited Financial Information for the year ended 31 March 2021 Group Statement of Changes in Shareholders’ Equity Supplementary Information (continued) INFLATION ADJUSTED * HISTORIC COST 6. Corporate Information AUDITED AUDITED AUDITED AUDITED Delta Corporation Limited (the Company) is a public limited company which is listed on the Zimbabwe Stock Year Ended Year Ended Year Ended Year ended Exchange and incorporated and domiciled in Zimbabwe. The principal activities of the Company and its 31 March 31 March 31 March 31 March subsidiaries (the Group) include the manufacture and distribution of cold beverages and related value-added 2021 2020 2021 2020 activities. ZW$ 000 ZW$ 000 ZW$ 000 ZW$ 000 These annual financial statements have been prepared under the supervision of A Makamure FCA(Z), Executive Shareholders’ equity at beginning of the year 21 671 792 21 231 302 1 818 267 802 997 Director – Finance, Registered Public Accountant, PAAB Number 0318 and have been audited in terms of the Profit for the year 6 383 585 3 674 513 7 498 827 1 037 942 Companies and Other Business Entities Act (Chapter 24:31). Transactions with Owners: 7. Statement of Compliance Share options exercised 2 645 82 352 1 516 4 218 The financial statements of the Company and the Group have been compiled adopting principles from Share buy back (18 668 ) — (18 668 ) — International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board Forfeiture of shares 2 093 — 2 093 — (IASB), the International Financial Reporting Interpretations Committee (IFRIC) and the Companies and Other Recognition of share based payments 64 721 45 767 31 347 5 775 Business Entities Act (Chapter 24:31) and the Zimbabwe Stock Exchange regulations.
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