REG - DP Eurasia N.V - Preliminary Results
12/04/2023 07:00
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RNS Number : 9462V DP Eurasia N.V 12 April 2023
For Immediate Release 12 April 2023
DP Eurasia N.V.
("DP Eurasia" or the "Company", and together with its subsidiaries, the
"Group")
Preliminary Results for the Period Ended 31 December 2022 ((1))
Highlights ((2))
( )
2022 2021 Change
Number of stores 859 817 42
(excluding Russia) 700 629 71
Group system sales (after IAS 29) ((3)) 2022 2021 Change Change
( ) (pre-IAS 29)
Turkey 3,391.5 3,417.1 -0.7% 72.1%
Azerbaijan 79.2 64.9 22.1% 109.8%
Georgia 42.6 27.4 55.4% 165.1%
COFFY 59.2 11.2 429.5% 828.8%
Total continuing operations 3,572.5 3,520.5 1.5% 76.0%
Russia (discontinued operations) 1,119.9 629.4 77.9% 77.9%
Grand Total 4,692.4 4,149.9 13.1% 76.5%
System sales LfL growth((4)) (after IAS 29) (pre-IAS 29)
2022 2021 2022 2021
Turkey -5.6% 25.9% 63.5% 50.4%
Azerbaijan (based on AZN) 8.0% 7.1% 8.0% 7.1%
Georgia (based on GEL) 12.6% 67.2% 12.6% 67.2%
Total continuing operations -5.3% 26.0% 62.2% 49.9%
Russia (discontinued operations, based on RUB) -9.8% 9.6% -9.8% 9.6%
Group financials (after IAS 29) (pre-IAS 29)
2022 2021 Change 2022 2021 Change
Revenue 2,219.7 2,062.7 7.6% 1,917.3 1,031.6 86.0%
Turkey adjusted EBITDA((5)) 336.6 313.1 7.5% 383.2 202.4 89.3%
Adjusted EBITDA((5)) 311.0 295.5 5.3% 357.4 185.1 93.1%
Adjusted net income (from continuing operations) ((6)) 214.2 142.8 50.0% 238.1 93.2 155.5%
Adjusted net debt((7)) 562.1 561.9 0.0% 562.1 349.6 60.1%
Net debt, including Russia 908.8 829.4 9.6% 908.8 581.6 56.2%
Financial Highlights (from continuing operations)
· Group revenue increased 7.6% (pre-IAS 29: 86%) and system sales
were up 1.5% (pre-IAS 29: 76%), reflecting healthy growth against very strong
comparatives.
· Removing the beneficial impact of the 2021 VAT reduction, the
Group's LfL performance was flat as the pace of inflation was met. The VAT
reduction, of 7pp to 1%, lasted until the end of September 2021. Overall, the
Group's LfL performance was -5.3%.
· Adjusted EBITDA increased 5.3% to TRY 311 million and was achieved
in a difficult cost environment as Turkish operations faced an average 72%
headline inflation during the year.
· Adjusted net income (from continuing operations) increased 50% to
TRY 214 million (2021: TRY 143 million).
· The Group maintained a strong liquidity position as of 31 December
2022, with TRY 360 million cash (excluding cash of Russia) and an undrawn bank
facility of TRY 225 million as of 31 December 2022.
· Adjusted net debt was TRY 562 million as of 31 December 2022.
Operational Highlights (from continuing operations)
· Online delivery system sales increased to 81.2% (2021: 76.3%) as a
share of delivery system sales((8)), reflecting our robust positioning for the
online ordering channel. Turkish online system sales((9)) growth was 1.6%
(pre-IAS 29: 75.7%).
· Turkish net new store openings of 48 for Domino's Pizza, higher
than guidance range of 30-40 for 2022, reflects strong demand and maintained
network expansion momentum, building on the record year in 2021.
· The Group opened two new stores in Georgia, bringing the total
number of stores to six in the country.
· The COFFY network increased by 21 stores to reach 29, with solid
ongoing franchisee demand. COFFY continues to represent an excellent growth
opportunity for the Group.
· The Board is deeply saddened by the earthquake that devastated
prominent cities of Turkey in February, and regrets to disclose that four
colleagues lost their lives. 12 out of the total 655 Domino's Pizza stores in
Turkey are not operational, and the Group is working on several options,
including moving those stores to other cities. A specific project currently
being developed is opening prefabricated stores in the affected regions. The
impact of the earthquake on our operations is not expected to be material to
2023.
· The Group continues to evaluate its presence in Russia and, as
previously announced is considering various options which may include a
divestment of its Russian operations. Whilst work on a potential transaction
is ongoing, there can be no certainty as to the outcome. In the meantime, the
Group continues to limit investment in Russia and remains focused on
optimising the existing store coverage. Following the closure of 29 stores in
2022, the Russian store count stood at 159 as of 31 December 2022.
Current trading
System sales growth and like-for-like growth for the eleven weeks ended 19
March of 2023 compared to the same period in 2022 were as follows:
System sales growth (after IAS 29 )((3)) For the eleven weeks ended 19 March 2023
Turkey 15.5%
Azerbaijan -10.8%
Georgia 40.9%
COFFY 469.1%
Total continuing operations 18.2%
Russia (discontinued operations) 11.6%
System sales like-for-like growth((3))(,(4))
Turkey 11.5%
Russia (discontinued operations, based on RUB) -20.8%
2023 Outlook
· The strong store openings momentum in Turkey is anticipated to
continue for both Domino's and COFFY, driven by solid franchisee demand. Our
commitment to maintaining franchisee profitability is front and centre of this
demand. 2023 is therefore anticipated to be another year of strong network
expansion as the Group seeks to broaden its coverage to cater to demand.
· The Group anticipates that it will maintain organic and LfL sales
momentum in 2023 driven by sustained network growth, volume expansion and
targeted price adjustments. New customer acquisition and increased order
frequency levels are expected to contribute to growing volumes.
· Group system sales growth performance has started strongly in the
first 11 weeks of 2023, up 18.2% for continuing operations and up 11.5% in
Turkey on a like-for-like basis. ((3,(4)))
· The Group is mindful that 2023 will be another year of volatile
macro-economic circumstance and uncertainty. The inflation risk persists, and
while the Group has a good track record of managing and negating the impact of
inflation, it may affect overall growth levels. Nevertheless, the Group
continues to believe that it can continue to appropriately manage the
inflationary risk.
· Guidance for store openings, LfL growth rates and capital
expenditure in Turkey for 2023 is as follows:
LfL growth rate High single digit
(pre IAS 29: 60-70%)
Domino's Pizza net store openings 35 - 40
COFFY net store openings 50 - 60
Capital expenditure TRY 160 mn
Commenting on the results, Chief Executive Officer, Aslan Saranga said:
"I would like to extend our condolences to all grieving families who lost
their loved ones during the devastating earthquake that impacted the prominent
cities of our country. We will continue to stand in solidarity with our
employees, business partners and community in this difficult time.
"Having worked extremely hard to combat the high levels of financial
volatility in the regions we operate, I am pleased to be reporting solid
results. Strong trading momentum was maintained, thanks to the healthy
dynamics of the sub-sectors the Group operates within and the team's careful
navigation of the obvious challenges, inflation being one.
"Our growth is continuing and 2023 has started well, with solid LfL growth
rates enabled as a result of our capabilities, experienced team, and culture.
We have an innovative and customer-centric mindset, helping us to grow in a
healthy manner as we pursue long term and sustainable profit.
"In 2022, our LfL performance caught up with the rapid pace of inflation, as
we successfully implemented our targeted action plan to overcome macro factors
largely outside of our control. Our clear and targeted strategy focuses on
three areas - strategic pricing and product innovation, continued digital
innovation, and operational excellence for everyday efficiency. This approach
enabled us to combat the high volatility levels with the positive impact
visible in terms of volume generation and customer acquisition. Despite
unprecedented cost pressures, adjusted EBITDA grew 5.3% and adjusted net
income increased by 47.2%.
"Our focus on product innovation is integral, allowing us to present a broad
choice to customers who increasingly seek value and affordability amid the
inflationary environment. Pizzetta, which costs USD $1, has become very
successful since its launch in Q4, and we also introduced a 'snacks from the
oven' range, completing our suite of value options and highlighting our drive
for sustained innovation.
"In 2022, we continued to improve the online proportion of our sales, and
digital innovation remains an important enabler for us to enhance the customer
experience and solidify our robust positioning for the online ordering
channel.
"We retain a fundamental commitment to ensuring franchisees remain profitable.
As a result, franchisee demand was very strong in 2022 and our Domino's Pizza
network in Turkey grew by 48 stores. "We maintain a healthy pipeline with
sustained franchisee interest and are confident that 2023 will be another
excellent year for network expansion.
"COFFY, our own brand, strengthened its presence in the Turkish market with an
accelerated expansion programme. Having developed multiple store concepts to
fit in with local circumstances, the COFFY network reached 29 stores in five
cities at year-end. Franchisee demand stands very strong owing to COFFY's
proven sales performance. This demand, alongside our ambitious targets for
2023, will enable us to add further scale in a sub-sector that is of
increasing popularity.
"2022 was a year that proved our resilience and agile executing capabilities.
I am very pleased to be delivering strong store growth and maintaining healthy
profitability levels at the same time. Our regional markets are blessed with
unique growth opportunities and, while volatility is set to continue, the
Board expects another year of good growth in 2023."
Enquiries
DP Eurasia N.V.
İlknur Kocaer, CFA - Investor Relations Director +90 212 280 9636
Buchanan (Financial Communications)
Richard Oldworth / Toto Berger / Verity Parker +44 20 7466 5000
dp@buchanan.uk.com (mailto:dp@buchanan.uk.com)
Analyst Briefing and Conference Call
An in-person briefing will be held at 9.00am UK time at the offices of
Buchanan, 107 Cheapside, London, EC2V 6DN. Please contact Buchanan on
dp@buchanan.uk.com to register your attendance.
The briefing will also be available remotely, via a conference call facility.
Please register for the conference call facility at this link
(https://event.loopup.com/SelfRegistration/registration.aspx?booking=Yc71RfBfbgTEL25QjC5F2Zq0Nn1EPDxzc5iCGEsB6Ec=&b=2389e96d-457b-46a8-bebb-fec356d5b031)
. Once registered you will receive an email containing your dial in number(s)
and PINs. The call will be accompanied with a presentation, which will be made
available on the morning of results and accessed at www.dpeurasia.com
(http://www.dpeurasia.com) .
DP Eurasia N.V.'s 2022 preliminary results presentation is available at
www.dpeurasia.com (http://www.dpeurasia.com) . A conference call replay will
be available on the website in due course.
Notes
((1)) The audit process of consolidated financial statements for the twelve
months ended 31 December 2022 has not been completed as of the publishing date
of this press release. Consequently, these figures are unaudited.
((2)) All Group figures exclude Russian business which is now a discontinued
operation. COFFY numbers are included in all Turkey and Group figures, unless
presented separately. Like-for-like figures exclude COFFY
((3)) System sales are sales generated by the Group's corporate and franchised
stores to external customers and do not represent revenue of the Group. These
numbers are not audited.
( (4)) Like-for-like growth is a comparison of sales between two periods that
compares system sales of existing system stores. The Group's system stores
that are included in like-for-like system sales comparisons are those that
have operated for at least 52 weeks preceding the beginning of the first month
of the period used in the like-for-like comparisons for a certain reporting
period, assuming the relevant system store has not subsequently closed or been
"split" (which involves the Group opening an additional store within the same
map of an existing store or in an overlapping area). This is a non-IFRS
measure and non-IFRS measures are not audited.
((5)) EBITDA, adjusted EBITDA and non-recurring and non-trade income/expenses
are not defined by IFRS and non-IFRS measures are not audited. These items are
determined by the principles defined by the Group management and comprise
income/expenses which are assumed by the Group management to not be part of
the normal course of business and are non-trading items. These items which are
not defined by IFRS are disclosed by the Group management separately for a
better understanding and measurement of the sustainable performance of the
Group. Reconciliation of EBITDA, adjusted EBITDA with consolidated financial
statements will be presented in Note 3 of Group financial statements section
of our annual report.
((6)) Adjusted net income is not defined by IFRS and non-IFRS measures are not
audited. Adjusted net income excludes income and expenses which are not part
of the normal course of business and are non-recurring items. Management uses
this measurement basis to focus on core trading activities of the business
segments and to assist it in evaluating underlying business performance.
Reconciliation of EBITDA, adjusted EBITDA with consolidated financial
statements will be presented in Note 3 of Group financial statements section
of our annual report.
((7)) Net debt and adjusted net debt are not defined by IFRS and non-IFRS
measures are not audited. Adjusted net debt includes cash deposits used as a
loan guarantee and cash paid, but not collected during the non-working day at
the year end. Management uses these numbers to focus on net debt including
deposits not otherwise considered cash and cash equivalents under IFRS.
((8)) Delivery system sales are system sales of the Group generated through
the Group's delivery distribution channel.
((9)) Online system sales are system sales of the Group generated through its
online ordering channel.
( )
( )
Notes to Editors
DP Eurasia N.V. is the exclusive master franchisee of the Domino's Pizza brand
in Turkey, Russia, Azerbaijan, and Georgia. The Company was admitted to the
premium listing segment of the Official List of the Financial Conduct
Authority and to trading on the main market for listed securities of the
London Stock Exchange plc on 3 July 2017. The Company (together with its
subsidiaries, the "Group") is the largest pizza delivery company in Turkey and
the third largest in Russia. The Group offers pizza delivery and takeaway/
eat-in facilities at its 830 stores (655 in Turkey, 159 in Russia, 10 in
Azerbaijan and 6 in Georgia as of 31 December 2022) and operates through its
owned corporate stores (18%) and franchised stores (82%). In addition to its
pizza delivery business, the Group also has its own coffee brand, COFFY, which
trades from 29 stores at period-end, 19 of which are franchised. The Group
maintains a strategic balance between corporate and franchised stores,
establishing networks of corporate stores in its most densely populated areas
to provide a development platform upon which to promote best practice and
maximise profitability. The Group has adapted the Domino's Pizza globally
proven business model to its local markets.
Performance Review
Store count As of 31 December
2022 2021
Corporate Franchised Total Corporate Franchised Total
Turkey (Domino's) 89 566 655 100 507 607
Azerbaijan - 10 10 - 10 10
Georgia - 6 6 - 4 4
COFFY 10 19 29 5 3 8
Total 99 601 700 105 524 629
Russia 63 96 159 94 94 188
Grand Total 162 697 859 199 618 817
DP Eurasia's store count for continuing operations increased by 71
year-on-year, or by 42 stores when including Russia - the difference being the
store rationalisation programme in the territory. As a result of this growth
in our core territories, the Group increased its system sales by 1.5%
year-on-year. Growth on a pre-inflation adjustment basis would have been 76%.
System sales of our Domino's Pizza operations in Turkey was flat on an
inflation adjusted basis. Nonetheless, adjusted for last year's VAT reduction,
of 7pp to 1% (which lasted until end of September 2021), system sales growth
would have been 4.4%. The Group experienced robust franchisee demand in Turkey
resulting in a strong store pipeline, laying solid foundations for ongoing
network expansion and growth. The Domino's Pizza net store count in Turkey
increased by 8% over the last twelve months, with 48 net additions being
higher than the guided range of 30-40 and building on a record year in 2021.
COFFY demonstrated a very strong sales performance and represents an
outstanding growth opportunity for the Group. COFFY store network growth
accelerated in 2022 with 21 new openings, meaning the concept has 29 stores in
total - in line with guidance to reach between 20-30 stores - thanks to solid
franchisee demand.
System sales of the Russian operations, which are now classified as
discontinued, increased by 77.9% (-14.8% based on RUB). The LfL performance
was -9.8% as we faced a strong comparable period while operating in a
difficult geo-political and economic environment. As previously announced, the
Group is considering various options which may include a divestment of its
Russian operations. Whilst work on a potential transaction is ongoing, there
can be no certainty as to the outcome. In the meantime, the Group continues to
limit investment in Russia and remains focused on optimising the existing
store coverage. Following the closure of 29 stores over the course of 2022,
the number of Russian stores stood at 159 as of 31 December 2022.
Delivery Channel Mix and Online LfL growth
The following table shows the Group's delivery system sales, analysed by
ordering channel and by the Group's two largest countries in which it
operates, as a percentage of delivery system sales:
For the period ended 31 December
2022 2021
Turkey Russia* Total Turkey Russia* Total
Store 18.2% 6.1% 16.9% 23.3% 7.1% 22.3%
Online Group's online platform 24.8% 71.0% 35.6% 25.2% 69.1% 31.4%
Aggregator 56.4% 23.0% 47.0% 51.1% 23.8% 46.0%
Total online 81.2% 93.9% 82.7% 76.3% 92.9% 77.4%
Call centre 0.6% - 0.4% 0.4% - 0.3%
Total 100% 100% 100% 100% 100% 100%
* Discontinued operations
The following table shows the Group's online LfL growth, broken down by the
Group's two largest countries in which it operates, for the periods ended 31
December 2022 and 2021:
Group online system sales LfL growth (after IAS 29) (pre-IAS 29)
2022 2021 2022 2021
Turkey -2.8% 45.2% 67.9% 73.3%
Russia (discontinued operations, based on RUB) -9.5% 12.4% -9.5% 12.4%
Online delivery system sales as a share of delivery system sales in Turkey
reached 81.2% for the period, which represents almost five percentage point
increase on a year-on-year basis. This performance was aided also by an
increase in volumes through the aggregators.
Financial Review
For the period ended
31 December
2022 2021 Change
(in millions of TRY)
Revenue 2,220 2,063 7.6%
Cost of sales (1,396) (1,268) 10.1%
Gross Profit 823 794 3.6%
General administrative expenses (282) (263) 7.2%
Marketing and selling expenses (347) (343) 1.1%
Other operating income /(expenses), net (5.7) 7.2 n.m.
Operating profit 189 196 -3.6%
Foreign exchange gains/(losses) 85 50 71.7%
Financial income 110 54 104.8%
Financial expense (240) (133) 81.1%
Monetary profit / (loss) 47 49 -2.4%
Profit/(Loss) before income tax 191 215 -11.2%
Tax expense 11 (81) n.m.
Profit/(Loss) after tax, from continuing operations 202 134 50.5%
Loss from discontinued operations (211) (71) 197.2%
(Loss) / Profit for the period (9) 63 n.m.
Turkey adjusted EBITDA 337 313 7.5%
Adjusted EBITDA 311 296 5.3%
Adjusted net income (from continuing operations) 214 143 50%
Revenue
Group revenue grew by 7.6% to TRY 2,220 million on inflation adjusted basis.
Adjusted EBITDA
Adjusted EBITDA, which now excludes Russia, was TRY 311 million, a
year-on-year increase of 5.3%. Adjusted EBITDA of Turkey, which includes the
Azerbaijani and Georgian businesses along with COFFY, realized at TRY 336
million which demonstrated 7.5% year-on-year increase. Please also note that
adjusted EBITDA for the Russian segment, which is now a discontinued
operation, for the period was TRY 2 million.
For the period ended 31 December 2022, the adjusted EBITDA margin as a
percentage of revenues was 14% compared to 14.3% over the same period in
2021. Unprecedented increases in food costs across the board and higher
personnel expenses were the main negative factors that weakened the
profitability in 2022. Meanwhile, strong sales performance creating operating
leverage through the system despite the above-mentioned cost pressure. The
Group took the advantage of its robust purchasing power and built-up
additional inventory during the period to combat with elevated food costs.
Adjusted Net Income
For the period ended 31 December 2022, adjusted net income from continuing
operations was TRY 214 million. The growth in revenue and adjusted EBITDA as
well as the foreign exchange gains due to the devaluation of the TRY against
the RUB were the main reasons for the return to profitability. On the other
hand, discontinued operation loss was TRY 211 million due to non-cash
write-offs driven by accounting treatment to the Russian business.
Capital expenditure and Cash conversion
The Group incurred TRY 82 million of capital expenditure for the continuing
operations in the period ended 31 December 2022. Cash conversion, defined as
(adjusted EBITDA [excluding IFRS 16 impact] - capital expenditure) / (adjusted
EBITDA [excluding IFRS 16 impact]) for the period was 70% (2021: 74%) for the
Group (continuing operations).
Adjusted net debt and leverage
The Group's adjusted net debt, excluding discontinued Russia financials, as of
31 December 2022 was TRY 562 million, staying flat compared to the inflation
adjusted net debt of end-2021. Including the Russian business, this equates to
TRY 909 million net debt.
The Group's leverage ratio (defined as adjusted net debt/adjusted EBITDA)
based on continued operations, stood at 1.8x as of 31 December 2022 (after IAS
29) versus 1.9x at the end of 2021. Including all Russian related debt (both
Sberbank loand and lease liabilities), our leverage ratio would go up to 2.9x
by the end of 2022. Including only the Sber bank loan (for which DPEU is the
debt guarantee) to debt calculations, this equates to a 2.3x leverage ratio,
which is unchanged versus the 2021 year-end.
In an increasing rate environment, c.90% of Group's bank borrowings had fixed
rate whereas average maturity stood at 1.5 years.
The Group had TRY 360 million of cash (excluding cash of Russia) and access to
an additional banking facility of TRY 225 million as of 31 December 2022.
Auditor's Involvement
The audit process of consolidated financial statements for the twelve months
ended 31 December 2022 has not been completed as of the publishing date of
this press release.
Forward looking statements
This press release includes forward-looking statements which involve known and
unknown risks and uncertainties, many of which are beyond the Group's control
and all of which are based on the Directors' current beliefs and expectations
about future events. They appear in a number of places throughout this press
release and include all matters that are not historical facts and include
predictions, statements regarding the intentions, beliefs or current
expectations of the Directors or the Group concerning, among other things, the
results of operations, financial condition, prospects, growth and strategies
of the Group and the industry in which it operates.
No assurance can be given that such future results will be achieved; actual
events or results may differ materially as a result of risks and uncertainties
facing the Group. Such risks and uncertainties could cause actual results to
vary materially from the future results indicated, expressed, or implied in
such forward-looking statements.
Forward-looking statements contained in this press release speak only as of
the date of this press release. The Company and the Directors expressly
disclaim any obligation or undertaking to update these forward-looking
statements contained in this press release to reflect any change in their
expectations or any change in events, conditions, or circumstances on which
such statements are based.
Appendices
Exchange Rates
For the period ended 31 December
2022 2021
Currency Period End Period Average Period End Period Average
EUR/TRY 19.882 17.356 14.682 10.423
RUB/TRY 0.258 0.249 0.173 0.119
EUR/RUB 75.655 72.151 84.070 87.188
Delivery - Take away / Eat in mix
For the period ended 31 December
2022 2021
Turkey Russia* Total Turkey Russia* Total
Delivery 74.1% 75.2% 74.1% 78.6% 77.8% 78.3%
Take away / Eat in 25.9% 24.8% 25.9% 21.4% 22.2% 21.7%
Total 100% 100% 100% 100% 100% 100%
* discontinued operations
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the years ended 31 December 2022 and 2021
2022 2021
Revenue 2,219,703 2,062,747
Cost of sales (1,396,461) (1,268,290)
Gross profit 823,242 794,457
General administrative expenses (281,987) (262,616)
Marketing and selling expenses (346,550) (342,867)
Other operating income, net (5,685) 7,198
Operating profit 189,020 196,172
Foreign exchange income 85,518 49,805
Financial income 109,626 53,521
Financial expense (240,348) (132,740)
Monetary Gain 47,497 48,646
Profit/ (loss) before income tax 191,313 215,404
Tax expense 10,736 (81,165)
202,049 134,239
Profit from continuing operations
Loss from discontinued (211,090) (71,365)
operations
(LOSS)/PROFIT FOR THE PERIOD (9,041) 62,874
Other comprehensive expense (260,057) (35,356)
Items that will not be reclassified to profit or loss
- Remeasurements of post-employment (5,856) 124
benefit obligations, net of tax
Items that may be reclassified to profit or loss
- Currency translation differences (248,176) (70,069)
- Currency translation differences from discontinued operations (6,025) 34,589
Total comprehensive loss (269,098) 27,518
Profit per share for the period attributable to equity holders of the parent (0.06) 0.43
((1))
Profit per share from continuing operations attributable to equity holders of 1.39 0.92
the parent ((1))
(5,856)
124
Items that may be reclassified to profit or loss
- Currency translation differences
(248,176)
(70,069)
- Currency translation differences from discontinued operations
(6,025)
34,589
Total comprehensive loss
(269,098)
27,518
Profit per share for the period attributable to equity holders of the parent
((1))
(0.06)
0.43
Profit per share from continuing operations attributable to equity holders of
the parent ((1))
1.39
0.92
(1) Amounts represent the basic and diluted earnings per share.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
For the years ended 31 December 2022 and 2021
31 Dec 31 Dec
Assets 2022 2021
Trade receivables 16,365 21,203
Lease receivables 95,272 109,391
Right-of-use assets 98,542 218,969
Property and equipment 123,577 211,063
Intangible assets 91,970 117,291
Goodwill 234,597 251,210
Deferred tax assets 4,183 27,531
Other non-current assets 69,415 64,850
Non-current assets 733,921 1,021,508
Cash and cash equivalents 360,059 254,700
Trade receivables 297,960 385,793
Lease receivables 13,676 32,270
Inventories 238,814 223,943
Current income tax assets 45,418 -
Other current assets 162,147 169,407
Current assets 1,118,077 1,066,113
Assets held for sale 435,400 -
Total assets 2,287,398 2,087,621
Equity
Paid in share capital 36,353 36,353
Share premium 441,632 441,632
Contribution from shareholders 76,604 71,715
Other reserves not to be reclassified to profit or loss
- Remeasurements of post-employment benefit obligations (11,360) (5,504)
Other reserves to be reclassified to profit or loss
- Currency translation differences (633,889) (379,688)
Retained earnings 61,366 70,407
Total equity (29,294) 234,915
Liabilities
Financial liabilities 64,923 230,196
Lease liabilities 152,422 281,692
Long-term provisions for employee benefits 13,693 6,883
Deferred tax liability - 8,362
Other non-current liabilities 154,906 118,571
Non - current liabilities 385,944 645,704
Financial liabilities 729,232 521,862
Lease liabilities 42,901 91,072
Trade payables 354,419 395,363
Current income tax liabilities - 21,003
Provisions 3,438 8,904
Other current liabilities 135,960 168,798
Current liabilities 1,265,950 1,207,002
Liabilities related to assets held for sale 664,798 -
Total liabilities 2,316,692 1,852,706
Total liabilities and equity 2,287,398 2,087,621
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. END FR FIFVESDIFLIVRecent news on DP Eurasia NV
See all newsREG - DP Eurasia N.V - Cancellation of listing and trading in Shares
AnnouncementREG - Official List - Removal - DP Eurasia N.V.
AnnouncementREG - Stock Exch Notice DP Eurasia N.V - Cancellation - DP Eurasia N.V.
AnnouncementREG - DP Eurasia N.V - PDMR and PCA Notification
AnnouncementREG - DP Eurasia N.V - PDMR and PCA Notification
Announcement