The the Annual Report 2018/19
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“Better“Better living living throughthrough Carbon” Carbon” LeadingLeading edge edge Activated Activated Carbon Carbon Technology Technology forfor every every industry industry and and purpose purpose TheThe ValueValue ofof ValuesValues TheThe value value of of values values cannot cannot be be overstated. overstated. In In deploying deploying our our core core OurOur Vision Vision valuesvalues – – innovation, innovation, technical technical superiority, superiority, customer customer centricity centricity and and “To“To be be the the leading leading global global brand brand for for Activated Activated Carbon Carbon andand foremost foremost provider provider for for Water Water Purification Purification SystemsSystems environmentalenvironmental consciousness consciousness – – we we were were able able to to build build the the resilience, resilience, inin Sri Sri Lanka Lanka and and the the Region, Region, renowned renowned for for technical technical strength and stability of the Company, all of which have allowed us to excellence,excellence, customer customer centricity, centricity, innovation innovation and and strengthstrength and and stability stability of of the the Company, Company, all all of of which which have have allowed allowed us us to to sustainablesustainable business business practices” practices” achieveachieve significant significant growth growth and and performance performance this this year. year. HAYCARB PLC HAYCARB HAYCARB PLC HAYCARB Annual Report 2018/19 Annual Report 2018/19 CONTENTCONTENT 01 Global Presence 0101 GlobalGlobal Presence Presence 5353 FinancialFinancial Statements Statements 54 Independent Auditors’ Report 0202 StrategyStrategy 5454 IndependentIndependent Auditors’ Auditors’ Report Report 5858 IncomeIncome Statement Statement 0404 JointJoint Statement Statement from from the the Chairman Chairman and and 59 Statement of Comprehensive Income thethe Managing Managing Director Director 5959 StatementStatement of of Comprehensive Comprehensive Income Income 60 Statement of Financial Position 1212 FinancialFinancial Review Review 6060 StatementStatement of of Financial Financial Position Position 62 Statement of Changes in Equity 1616 CorporateCorporate Social Social Responsibility Responsibility 6262 StatementStatement of of Changes Changes in in Equity Equity 6464 StatementStatement of of Cash Cash Flows Flows 21 Governance and Compliance 21 Governance and Compliance 6666 NotesNotes to to the the Financial Financial Statements Statements 2222 BoardBoard of of Directors Directors 120 Statement of Group Value Added 2424 ManagementManagement Team Team 120 Statement of Group Value Added 121 Investor Information 2525 CorporateCorporate Governance Governance 121 Investor Information 124 Ten Year Financial Review 4444 AnnualAnnual Report Report of of the the Board Board of of Directors Directors on on the the 124 Ten Year Financial Review 126 Group Profile AffairsAffairs of of the the Company Company 126126 GroupGroup Profile Profile 128 Glossary 4848 StatementStatement of of Directors’ Directors’ Responsibility Responsibility 128128 GlossaryGlossary 129 Notice of Meeting 4949 RelatedRelated Party Party Transactions Transactions Review Review 129129 NoticeNotice of of Meeting Meeting HaycarbHaycarb PLC PLC CommitteeCommittee Report Report FormForm of of Proxy Proxy 400,400, Deans Deans Road, Road, Colombo Colombo 10, 10, Sri Sri Lanka. Lanka. 50 Audit Committee Report 5050 AuditAudit Committee Committee Report Report Corporate Information Phone:Phone: +94 +94 11 11 262 262 7000, 7000, +84 +84 11 11 267 267 7364 7364 (Finance) (Finance) CorporateCorporate Information Information 5252 FinancialFinancial Calendar Calendar Fax:Fax: +94 +94 11 11 269 269 9630 9630 HAYCARBHAYCARB PLC PLC E-mail:E-mail: [email protected] [email protected] www.haycarb.com www.haycarb.com AnnualAnnual ReportReport 2018/192018/19 “Better“Better living living throughthrough Carbon” Carbon” LeadingLeading edge edge Activated Activated Carbon Carbon Technology Technology forfor every every industry industry and and purpose purpose TheThe ValueValue ofof ValuesValues TheThe value value of of values values cannot cannot be be overstated. overstated. In In deploying deploying our our core core OurOur Vision Vision valuesvalues – – innovation, innovation, technical technical superiority, superiority, customer customer centricity centricity and and “To“To be be the the leading leading global global brand brand for for Activated Activated Carbon Carbon andand foremost foremost provider provider for for Water Water Purification Purification SystemsSystems environmentalenvironmental consciousness consciousness – – we we were were able able to to build build the the resilience, resilience, inin Sri Sri Lanka Lanka and and the the Region, Region, renowned renowned for for technical technical strength and stability of the Company, all of which have allowed us to excellence,excellence, customer customer centricity, centricity, innovation innovation and and strengthstrength and and stability stability of of the the Company, Company, all all of of which which have have allowed allowed us us to to sustainablesustainable business business practices” practices” achieveachieve significant significant growth growth and and performance performance this this year. year. HAYCARB PLC HAYCARB HAYCARB PLC HAYCARB Annual Report 2018/19 Annual Report 2018/19 CONTENTCONTENT 01 Global Presence 0101 GlobalGlobal Presence Presence 5353 FinancialFinancial Statements Statements 54 Independent Auditors’ Report 0202 StrategyStrategy 5454 IndependentIndependent Auditors’ Auditors’ Report Report 5858 IncomeIncome Statement Statement 0404 JointJoint Statement Statement from from the the Chairman Chairman and and 59 Statement of Comprehensive Income thethe Managing Managing Director Director 5959 StatementStatement of of Comprehensive Comprehensive Income Income 60 Statement of Financial Position 1212 FinancialFinancial Review Review 6060 StatementStatement of of Financial Financial Position Position 62 Statement of Changes in Equity 1616 CorporateCorporate Social Social Responsibility Responsibility 6262 StatementStatement of of Changes Changes in in Equity Equity 6464 StatementStatement of of Cash Cash Flows Flows 21 Governance and Compliance 21 Governance and Compliance 6666 NotesNotes to to the the Financial Financial Statements Statements 2222 BoardBoard of of Directors Directors 120 Statement of Group Value Added 2424 ManagementManagement Team Team 120 Statement of Group Value Added 121 Investor Information 2525 CorporateCorporate Governance Governance 121 Investor Information 124 Ten Year Financial Review 4444 AnnualAnnual Report Report of of the the Board Board of of Directors Directors on on the the 124 Ten Year Financial Review 126 Group Profile AffairsAffairs of of the the Company Company 126126 GroupGroup Profile Profile 128 Glossary 4848 StatementStatement of of Directors’ Directors’ Responsibility Responsibility 128128 GlossaryGlossary 129 Notice of Meeting 4949 RelatedRelated Party Party Transactions Transactions Review Review 129129 NoticeNotice of of Meeting Meeting HaycarbHaycarb PLC PLC CommitteeCommittee Report Report FormForm of of Proxy Proxy 400,400, Deans Deans Road, Road, Colombo Colombo 10, 10, Sri Sri Lanka. Lanka. 50 Audit Committee Report 5050 AuditAudit Committee Committee Report Report Corporate Information Phone:Phone: +94 +94 11 11 262 262 7000, 7000, +84 +84 11 11 267 267 7364 7364 (Finance) (Finance) CorporateCorporate Information Information 5252 FinancialFinancial Calendar Calendar Fax:Fax: +94 +94 11 11 269 269 9630 9630 HAYCARBHAYCARB PLC PLC E-mail:E-mail: [email protected] [email protected] www.haycarb.com www.haycarb.com AnnualAnnual ReportReport 2018/192018/19 GLOBAL PRESENCE Turkey Kielce, Poland Moscow, Russia Beijing, China Germany Seoul, South Korea Ontario, Canada Bristol, UK Paris, France Spain Tokyo, Japan Taipei, Taiwan Karachi, Pakistan Texas, USA Bangkok, Chonburi, Ratchaburi, Thailand Pittsburgh, USA Dubai, Palu, Indonesia UAE Bitung, Indonesia Accra, Ghana Colombo, Sri Lanka Singapore Parent Company Kuala Lumpur, Malaysia Santiago, Chile Manufacturing/ Marketing Perth, Australia Johannesburg, Melbourne, Australia South Africa Addis Ababa, Ethiopia MARKETING SUBSIDIARY DISTRIBUTOR MANUFACTURING 8% Other Africa 8% 28% Gold Water 44% Recovery treatment TURNOVER 43% Asia TURNOVER USA 20% by Geographical (excluding by Application location Sri Lanka) 18% Air treatment Other 2% Europe 15% 6% Australia Respirator Carbon 4% 4% Solvent Recovery 50,000 tonnes per annum Activated Carbon supply capacity KEY PERFORMANCE INDICATORS STATEMENT OF INCOME RETURN TO SHAREHOLDERS CASH FLOWS RATIOS CORPORATE INFORMATION REVENUE EPS CUMULATIVE INVESTMENT IN CAPEX OVERHEADS COST TO REVENUE RATIO FROM YEAR 2010 15 15 15 Name of Company Bankers 5,191 20,918 32 13 (%) 12 Haycarb PLC Bank of Ceylon (Rs.) 4,801 27 4,477 Citibank N.A. 15,518 23 23 23 (Rs. million) (Rs. million) 13,554 Commercial Bank 11,934 11,706 3,629 Legal Form Deutsche Bank 3,034 A Quoted Public Company with limited liability. DFCC Vardhana Bank Incorporated in Sri Lanka in 1973 Hatton National Bank Hongkong & Shanghai Banking Corporation 2014/15 2015/16 2016/17 2017/18 2018/19 2014/15 2015/16 2016/17 2017/18 2018/19 2014/15 2015/16 2016/17 2017/18 2018/19 2014/15 2015/16 2016/17 2017/18 2018/19 Nations Trust Bank Company Number NDB Bank PQ 59 GROSS PROFIT NAV ASSETS PER SHARE OPERATING CASH FLOWS BEFORE ROCE Pan Asia Bank PLC WORKING