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Interim Financial Statement - 4Th Quarter (For the Twelve Months Ended 31St Marh 2021) Aitken Spence Hotel Holdings PLC

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Interim Financial Statement - 4Th Quarter (For the Twelve Months Ended 31St Marh 2021) Aitken Spence Hotel Holdings PLC Aitken Spence Hotel Holdings PLC Interim Financial Statement - 4th Quarter (For the twelve months ended 31st Marh 2021) Aitken Spence Hotel Holdings PLC Consolidated Income Statement Quarter ended Twelve months ended 31st March 31st March 2021 2020 2021 2020 Rs.’ 000 Rs.’ 000 Rs.’ 000 Rs.’ 000 Unaudited Audited Unaudited Audited Revenue 3,814,131 5,731,897 5,728,379 19,019,241 Revenue taxes (99,083) (84,269) (136,611) (430,854) Net revenue 3,715,048 5,647,628 5,591,768 18,588,387 Other operating income/(expenses) 26,310 (26,384) (45,957) 117,801 Staff costs (792,188) (1,048,654) (2,431,437) (3,800,748) Depreciation (643,685) (613,996) (2,534,273) (2,116,136) Amortisation and impairment (206,291) (199,503) (804,178) (730,743) Other operating expenses - direct (938,555) (1,185,586) (1,512,542) (4,256,434) Other operating expenses - indirect (1,384,619) (1,695,590) (3,451,876) (6,238,460) Profit/(loss) from operations (223,980) 877,915 (5,188,495) 1,563,667 Finance income 28,265 41,321 134,707 186,699 Finance expense (508,316) (592,992) (2,173,971) (1,861,353) Net finance expense (480,051) (551,671) (2,039,264) (1,674,654) Share of loss of equity accounted investees (net of tax) (81,810) (90,000) (378,861) (322,036) Profit/(loss) before tax (785,841) 236,244 (7,606,620) (433,023) Income tax (expense)/refund 167,401 (117,204) 353,405 (462,701) Profit/(loss) for the period (618,440) 119,040 (7,253,215) (895,724) Attributable to: Equity holders of the parent company (372,145) 151,135 (4,669,045) (624,953) Non -controlling interests (246,295) (32,095) (2,584,170) (270,771) Profit/(loss) for the period (618,440) 119,040 (7,253,215) (895,724) Earnings/(loss) per share for the period - Rs. (1.12) 0.44 (13.93) (1.90) (Basic / Diluted) 1 Aitken Spence Hotel Holdings PLC Company Income Statement Quarter ended Twelve months ended 31st March 31st March 2021 2020 2021 2020 Rs.’ 000 Rs.’ 000 Rs.’ 000 Rs.’ 000 Unaudited Audited Unaudited Audited Revenue 83,824 270,486 123,747 704,209 Revenue taxes - - - (7,517) Net revenue 83,824 270,486 123,747 696,692 Other operating income 78,389 440,528 69,237 908,918 Staff costs (33,235) (44,309) (102,533) (180,561) Depreciation (15,597) (16,024) (63,290) (61,414) Amortisation and impairment (39,125) (185,275) (40,555) (186,950) Other operating expenses - direct (25,631) (57,177) (49,488) (191,424) Other operating expenses - indirect (53,357) (104,029) (176,025) (325,335) Profit /(loss) from operations (4,732) 304,200 (238,907) 659,926 Finance income 12,712 18,018 63,827 87,307 Finance expense (14,772) (26,514) (83,280) (118,079) Net finance expense (2,060) (8,496) (19,453) (30,772) Profit/(loss) before tax (6,792) 295,704 (258,360) 629,154 Income tax (expense)/refund (1,105) 27,752 (2,075) 8,717 Profit/(loss) for the period (7,897) 323,456 (260,435) 637,871 Earnings/(loss) per share for the period - Rs. (0.03) 0.95 (0.82) 1.85 (Basic / Diluted) 2 Aitken Spence Hotel Holdings PLC Consolidated Statement of Profit or Loss and Other Comprehensive Income Quarter ended Twelve months ended 31st March 31st March 2021 2020 2021 2020 Rs.’ 000 Rs.’ 000 Rs.’ 000 Rs.’ 000 Unaudited Audited Unaudited Audited Profit/(loss) for the period (618,440) 119,040 (7,253,215) (895,724) Other comprehensive income/(loss) Items that will never be reclassified to profit or loss Share of other comprehensive income of equity accounted investees 17,464 5,358 17,464 5,358 Actuarial gains/(losses) on defined benefit obligations (28,661) 17,128 (28,661) 17,128 Income tax on other comprehensive income 3,453 (2,153) 3,453 (2,153) (7,744) 20,333 (7,744) 20,333 Items that are or may be reclassified to profit or loss Foreign currency translation differences of foreign operations 957,489 531,472 801,962 929,718 Net movement in fair value reserves 26,123 (14,878) 26,123 (14,878) Net movement on cash flow hedges (126,406) (143,889) (712,630) (291,529) 857,206 372,705 115,455 623,311 Other comprehensive income/(loss) for the period (net of tax) 849,462 393,038 107,711 643,644 Total comprehensive income/(loss) for the period (net of tax) 231,022 512,078 (7,145,504) (252,080) Attributable to: Equity holders of the parent company 177,523 414,970 (4,564,238) (202,358) Non -controlling interests 53,499 97,108 (2,581,266) (49,722) Total comprehensive income/(loss) for the period (net of tax) 231,022 512,078 (7,145,504) (252,080) 3 Aitken Spence Hotel Holdings PLC Statement of Profit or Loss and Other Comprehensive Income - Company Quarter ended Twelve months ended 31st March 31st March 2021 2020 2021 2020 Rs.’ 000 Rs.’ 000 Rs.’ 000 Rs.’ 000 Unaudited Audited Unaudited Audited Profit/(loss) for the period (7,897) 323,456 (260,435) 637,871 Other comprehensive income/(loss) Items that will never be reclassified to profit or loss Revaluation of property, plant and equipment - - - - Actuarial gains/ (losses) on defined benefit obligations (5,650) 2,619 (5,650) 2,619 Income tax on other comprehensive income 791 (367) 791 (367) (4,859) 2,252 (4,859) 2,252 Items that are or may be reclassified to profit or Loss Foreign currency translation differences of foreign operations - - - - Net movement in fair value reserves - - - - - - - - Other comprehensive income/(loss) for the period (net of tax) (4,859) 2,252 (4,859) 2,252 Total comprehensive income/(loss) for the period (net of tax) (12,756) 325,708 (265,294) 640,123 4 Aitken Spence Hotel Holdings PLC Consolidated Statement of Financial Position As at 31.03.2021 31.03.2020 Rs.’ 000 Rs.’ 000 Unaudited Audited ASSETS Non - current assets Property, plant and equipment 52,766,644 52,554,379 Right-of-use-assests 11,964,320 11,172,389 Intangible assets 581,137 580,627 Investment in equity accounted investees 631,527 910,478 Other financial assests 772,508 764,245 Deferred tax assets 717,802 295,849 67,433,938 66,277,967 Current assets Inventories 817,377 933,540 Trade and other receivables 893,820 1,681,349 Amount due from holding company 476,904 740,232 Amount due from parent's group entities 231,334 467,086 Deposits and prepayments 368,513 588,774 Current tax receivable 47,135 33,467 Other financial assets 714,562 128,828 Cash and cash equivalents 2,105,560 2,473,266 5,655,205 7,046,542 Assets classified as held for sale 1,079,094 1,025,525 Total Assets 74,168,237 74,350,034 EQUITY AND LIABILITIES Equity Stated capital 3,554,587 3,554,587 Reserves 5,554,233 5,419,419 Retained earnings 6,847,636 11,588,894 Total equity attributable to equity holders of the parent company 15,956,456 20,562,900 Non-controlling interests 6,006,264 8,587,530 Total Equity 21,962,720 29,150,430 Non - current liabilities Interest - bearing liabilities - banks 28,147,885 24,890,820 Interest - bearing liabilities - leases 9,990,825 8,609,274 Deferred tax liabilities 1,019,424 991,305 Employee benefits 248,550 209,714 39,406,684 34,701,113 Current liabilities Trade payables 913,389 940,582 Other provisions and payables 3,295,873 3,494,354 Amount due to holding company 168,765 134,293 Amount due to parent's group entities 75,307 74,009 Interest - bearing liabilities - banks 2,568,340 2,757,480 Interest - bearing liabilities - leases 1,042,409 524,112 Current tax payable 2,097 80,778 Bank overdrafts and other short term borrowings 4,732,653 2,492,883 12,798,833 10,498,491 Total Liabilities 52,205,517 45,199,604 Total Equity and Liabilities 74,168,237 74,350,034 Net Asset value per share (Rs.) 46.96 60.66 The Chief Financial Officer certfies that the financial statements have been prepared in compliance with the requirement of the Companies Act No. 07 of 2007. sgd. sgd. sgd. Deshamanya D.H.S Jayawardena Dr. M.P Dissanayake Ms. H.F.S Kulatunga Chairman Managing Director General Manager - Finance Colombo 21st May 2021 5 Aitken Spence Hotel Holdings PLC Company Statement of Financial Position As at 31.03.2021 31.03.2020 Rs.’ 000 Rs.’ 000 Unaudited Audited ASSETS Non - current assets Property, plant and equipment 1,583,243 1,624,222 Intangible assets 1,406 3,271 Investments in subsidiaries 8,006,841 8,006,841 Investment in equity accounted investees 1,267,862 1,222,873 Other financial assets 606,058 606,058 11,465,410 11,463,265 Current assets Inventories 15,122 19,624 Trade and other receivables 82,396 136,869 Amount due from holding company 82,929 32,148 Amount due from parent's group entities 47,386 112,006 Deposits and prepayments 4,128 8,066 Current tax receivable 12,134 17,371 Other financial assets 139,794 82,686 Cash and cash equivalents 474,920 502,765 858,809 911,535 Total Assets 12,324,219 12,374,800 EQUITY AND LIABILITIES Equity Stated capital 3,554,587 3,554,587 Reserves 705,961 705,961 Retained earnings 6,338,103 6,618,247 Total Equity 10,598,651 10,878,795 Non - current liabilities Interest - bearing liabilities - banks 558,554 471,763 Deferred tax liabilities 37,426 41,433 Employee benefits 43,437 34,545 639,417 547,741 Current liabilities Trade creditors 16,134 17,997 Other provisions and payables 55,863 105,639 Amount due to holding company 134,856 42,836 Amount due to parent's group entities 533,707 501,284 Interest - bearing liabilities - banks 238,410 255,898 Bank overdrafts and other short term borrowings 107,181 24,610 1,086,151 948,264 Total Liabilities 1,725,568 1,496,005 Total Equity and Liabilities 12,324,219 12,374,800 Net Asset value per share (Rs.) 31.03 31.86 The Chief Financial Officer certfies that the financial statements have been prepared in compliance with the requirement of the Companies Act No.
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