TIDMESSN
RNS Number : 4558E
Essentially Group PLC
30 June 2023
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30 June 2023
Essentially Group PLC
(the "Company" or "Essentially")
Summary Final Results of Operating Company
Essentially Group PLC, a leading health food company in the UAE
delivering high quality nutrition (wellness shots, functional
juices, lemonades, nut milks, single origin fruit juices and
healthy snacks) to its customers, is pleased to announce a summary
of the final results for its operating company, Essentially Juices
manufacturing LLC ("EJM") for the year ended 31 December 2022.
Furthermore, the Company confirms that it has changed its year end
to 31 December as per the announcement on 15 June 2023.
Raja Wail Abuljebain, Chief Executive Officer of Essentially,
commented: "The annual results demonstrate our ability to
capitalize on the UAE's thriving consumer economy and the
increasing demand for nutritious juices and snacks. With the
country's continued economic growth, a booming tourism industry,
and the expanding presence of Western companies in the region, we
are poised to seize even greater opportunities. We remain committed
to innovation, strategic partnerships, and continuous improvement,
as we strive to further expand our product offerings, enhance our
market presence, and deliver exceptional value to our customers.
The future holds immense promise, and we are energized and
determined to realize the full potential of Essentially as a
leading player in the UAE's dynamic business landscape."
The Directors accept responsibility for this announcement.
- end -
For further information, please contact:
Essentially Group Plc
Raja W Abuljebain, CEO Tel: +97156 6440676
https://essentiallyplc.com
AQSE Exchange Corporate Adviser
Alfred Henry Corporate Finance Ltd
Nick Michaels Tel: +44 (0) 20 3772 0021
www.alfredhenry.com
Broker
Clear Capital Markets Ltd
Andrew Blaylock Tel: +44 (0)20 3869 6082
https://clearcapitalmarkets.co.uk
Summary of Final Results for EJM
ESSENTIALLY JUICES MANUFACTURING
L.L.C
Dubai - United Arab Emirates
Statement of financial position
As at December 31, 2022
--------------------------------------- -----------------------------
2022 2021
AED AED
ASSETS
Current assets
Cash and cash equivalents 124,444 146,734
492 ,
Trade receivables 683,721 411
255 ,
Other receivables 309,984 879
Inventories 99,489 73,241
Total current assets 1,217,638 968,265
-------------- -------------
Non-current assets
Property and equipment 4,193,309 1,953,536
1,109
Right-of-use asset 665,721 , 533
Intangible assets 5,790 26,541
-------------- -------------
Total non-current assets 4,864,820 3,089,610
-------------- -------------
TOTAL ASSETS 6,082,458 4,057,875
-------------- -------------
LIABILITIES AND EQUITY
Cur rent liabilities
Trade and other payables 1,304,129 721,844
145 ,
Interest bearing loans and borrowings 546 115,530
Lease liabilities 456,635 396,971
-------------- -------------
1 , 906
, 310 1,234,345
-------------- -------------
Non-current liabilities
Loan from Shareholder 3,150,000
200 ,
Interest bearing loans and borrowings 608 344,255
Lease liabilities 253,444 710,078
Employees -- end-of-service benefits 87,556 30,734
-------------- -------------
3,691,608 1,085,067
-------------- -------------
Total liabilities 5,597,918 2,319,412
-------------- -------------
Equity
300 ,
Share capital 000 300,000
(8,437
(Accumulated losses) , 072) (6,479,244)
-------------- -------------
(8,137
Total equity , 072) (6,179,244)
Shareholder's account 8,621,612 7,917,707
-------------- -------------
Total Shareholders' funds 484,540 1 , 738,463
-------------- -------------
TOTAL LIABILITIES AND EQUITY 6,082,458 4 , 057,875
-------------- -------------
Statement of comprehensive income
F o r the year ended December 31, 2022
---------------------------------------------------- --------------------------------------
2022 2021
AED AED
3 , 31
Revenu e 4,665,305 1 ,901
Cost of goods sold (2,747,790) (1,839,008)
----------------- ------------------
Gross pr o fit 1,917,515 1,472,893
Other income 4, 1 66
General , admin i strative and sel li ng expenses (3,513,053) (2,583,879)
(164,06
Fina n ce costs (366,456) 1 )
----------------- ------------------
(Los s ) for th e year (1,957,828) ( 1 ,275,047)
Ot h e r comprehensive i ncome
----------------- ------------------
Tot a l co mpr e h e n s i ve ( lo ss) for th
e year (1,957 ,828) (1,275,047)
----------------- ------------------
St ate m ent of cash flows
For the year ended D ecember 31, 2022
Cash flows from operating activities 2022 2021
AED AED
(Loss) fo r the year
Adjustments for: (1,957,828) (1,275,047)
D e p reciat ion of property and equipment 480,007 17 8,296
Provision for employees-- e n d-of-services
benefits 91,311 3 1 ,510
443,8 1
D epreciation of right-of-use asset 2 221,906
Amort i sa ti on of in tang i ble assets 20,75 1 26,322
F in ance costs 366,456 164,061
------------- -------------
Op e rating (lo s s) before working (555,49
capital changes 1 ) ( 652,952)
( In crease) in t r ade rece i va bl ( 1 91,3
es 1 0) (76,645)
(70,84
(Increase) in othe r receivables (54,105) 1)
(Increase) in inventories (26,248) (7,603)
In crease in trade and other payables 450 , 244 119, 720
------------- -------------
Ca s h (u se d in) op e rations (376,910) (688,321)
Employees-- e n d-of-services benefits
paid (34,489) (57,779)
Finance costs paid (97,255) (121,386)
------------- -------------
Net cash (used in) operating activities (508 , 654) (867,486)
------------- -------------
Cash flows from inve s tin g activities
Ac q uisit ion of property and equipme (2,719 ,
n t 780) (1,487,385)
------------- -------------
N et cash (used in) inv es tin g activities (2,719,780) (1,487,385)
------------- -------------
Cash flow s from finan c in g a c tivities
L oan from Sha r eholder 3,150,000
Move m en t in S h areholder's accou
n t 7 03 ,905 2,333,047
N et movement in interest-bearing lo ( 113 ,63
ans a nd borrowings 1) 27 4 ,893
L ease p ayments (534,130) (267,065)
------------- -------------
Net cash generated from fin a ncing
activit ies 3 , 206,144 2 , 340,875
------------- -------------
N et (decrease) in cash and cash equivalents (22,290) (13,996)
Cas h and cash equivalents at the beginning
of t h e year 146,734 160,730
------------- -------------
Cash and cas h equiva lents at the end
of th e y ea r 124,444 146,734
------------- -------------
Non -c a s h transaction s :
Interest on loan from shareholder included
in accruals and other payables 132 , 041
Right-of-use asset capitalized and lease 1 , 33
liability recognised 1 ,439
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