Congo RDC Towers S.A. (TowerCo) Audit report on the annual financial statements Financial Year closing on 31st December 214 Date 3 rd July 215
EY Building a better working world Congo RDC Towers S.A. «TowerCo» 1, Croisement des avenues Tchad et Bas Congo Kinshasa/Gombe Democratic Republic of Congo For the attention of the shareholders: Report of the Auditors in the general meeting of shareholders of Congo DRC Towers S. A. on the annual accounts for the year ended on 31 st December 214 We have carried out audit of the financial statements attached, the company RDC Towers S.A. (TowerCo) on 31 st December 214 which includes the balance sheet, profit and loss account, the statement of changes in the capital, the cash flow statement closed on this date, as well as the notes containing a summary of main accounting methods and other explanatory information. Responsibility of the Board of Directors for the preparation of the financial statements The Board of Directors is responsible for the preparation of the financial statements in accordance with the OHADA accounting system, as well as internal control as he considers necessary to the preparation of financial statements do not include any material misstatement, whether they come from fraud or result from mistakes. Responsibility of the Auditor Our responsibility is to express an opinion on these financial statements on the basis of our audit. We have carried out our audit as per the International Audit terms. These standards require, from our part, to make us comply with ethical rules and to plan and carry out the audit to obtain a reasonable assurance that these financial statements o not contain any significant anomalies. An audit implies implementation of procedures with a view to gather evidence concerning the amounts and the information given in the financial statements. The choices of procedures are at the discretion of the auditor, and especially his evaluation of risks that whether the financial statements contain any significant anomalies, resulting from fraud or error. In making those risk assessments; the auditor considers internal control relevant to the entity s preparation and the presentation of the financial statements in order to define the audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control. An audit also consists of the appreciation of the appropriateness of the accounting methods retained and the reasonableness of the accounting estimations made by the management, as well as the appreciation of the overall presentation of the financial statements.
EY Building a better working world We believe that the audit evidences we have obtained are sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements sincerely present, in all their significant aspects, the financial situation of the Company Congo RDC Towers S.A. as on 31 st December 214, as well as the financial performance and the cash flow for the financial year closed on this date, in compliance with the accounting principles of OHADA. Emphasis-of-matter paragraph Without qualifying our opinion expressed above, we draw your attention to the financial statements on 2.2 note that indicates up to July 8, 214, the company concluded with an agreement with HT DRC INFRACO SARL ( Buyer ) for the sale of its towers. These conditions with the other items listed in note 2.2 indicate an uncertainty material about the company's ability to pursue its activities. Specific information and audit We have also, in conformity with professional standards, made specific verifications required by the laws in force. With the exception of the impact of the facts outlined above, we have no comment to make concerning the sincerity and the agreement with the annual accounts of the information provided within the report on the management of the Board of Directors and within the documents addressed to shareholders, concerning the financial situation and the annual financial statements. Statutory Auditors ERNST & YOUNG RDC SARL Date 3 rd July 215 Kinshasa
FINANCIAL STATEMENTS NORMAL SYSTEM Financial year ending on 31 st December 214
BALANCE SHEET - ASSET 3 Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 Financial year N-1 (12 FINANCIAL YEAR N (12 months) months) Ref :.. ASSET Gross Amort/Prov Net Net FIXED ASSETS (1) 1 AA Fixed charges 2 AX Installation cost 3 AY Deferred charges 4 142 572 972 142 572 972 142 572 972 AC Bond redemption premium 5 AD Intangible assets 6 AE Research and development expenses 7 AF Software, patents, licences, trade marks 8 AG Goodwill 9 AH Other intangible assets 1 AI Tangible assets 11 AJ Land 12 2 615 182 822 2 615 182 822 2 372 865 711 AK Buildings 13 AL Fixtures and fittings 14 15 655 936 5 11 259 165 864 94 396 77 186 87 49 993 27 AM Equipment 15 36 836 861 325 8 235 92 795 28 6 94 531 13 78 524 24 AN Transport equipment 16 AP Advances and prepayments on asset 17 AQ Financial assets 18 AR Equity securities 19 AS Other financial fixed assets 2 118 649 4 118 649 4 118 649 4 AW (1) including H.A.O Gross... 21 Net. 22 AZ TOTAL FIXED ASSETS (I) 23 145 369 198 29 19 495 86 658 125 874 111 551 13 833 6 954 CURRENT ASSET 24 BA Current asset H.A.O. 25 BB Stocks 26 BC Goods 27 BD Raw materials, & other procurement supplies 28 Engineering Centre In progress 29 BF Manufactured products 3 BG Receivables and similar assets 31 BH Suppliers, transferred advances 32 BI Customers 33 19 567 2 576 441 136 525 19 126 64 5 3 625 376 729 BJ Other receivables 34 1 914 42 261 1 914 42 261 7 79 232 196 BK TOTAL CURRENT ASSET (II) 35 21 481 242 836 441 136 525 21 4 16 311 1 74 68 925 CASH AND CASH EQUIVALENTS 36 BQ Defensive stock 37 BR Cash values 38 BS Banks, postal checks, cash 39 49 683 68 49 683 68 2 29 919 665 BT TOTAL CASH - ASSET (III) 4 49 683 68 49 683 68 2 29 919 665 Conversion differences - Assets (IV) 19 921 622 19 921 622 BU (probable loss of exchange) 41 BZ GENERAL TOTAL (I+II+III+IV) 42 166 92 46 348 19 936 223 184 146 983 823 164 116 568 129 544
BALANCE SHEET - ASSET 4 Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 Ref :.. LIABILITY (before distribution) Lines FISCAL PERIOD N Fiscal year N-1 EQUITY AND SIMILAR RESOURCES 1 CA Capital 2 9 9 CB Shareholders uncalled capital 3 CC Premiums and reserves 4 CD Premium contribution, issuance, merger 5 CE Revaluation deviations 6 CF Unavailable reserves 7 CG Free reserves 8 CH Brought forward from preceding fiscal year + or - 9 1 162 89 154-644 CI Net income of the financial year (profit + or loss -) 1 8 373 6 162-4 546 86 475 CK Other equities 11 CL Investment grants 12 CM Regulated and related provisions funds 13 CP TOTAL EQUITIES (II) 14 9 626 49 316-4 456 73 475 FINANCIAL DEBTS AND SIMILAR RESOURCES (1) 15 DA Loans 16 DB Debt leasing and assimilated contracts 17 DC Various financial debts 18 12 942 959 29 2 897 142 32 DD Financial provisions for risks and charges 19 1 612 2 1 612 2 DE (1) including H.A.O. : 2 DF TOTAL FINANCIAL DEBT (II) 21 12 953 571 49 2 97 754 52 DG TOTAL STABLE RESOURCES ( I + II) 22 22 58 61 725-1 548 975 973 CURRENT LIABILITIES 23 DH Circulating debt and similar resources HAO 24 113 43 354 72 11 241 547 765 DI Customer advances received 25 DJ Suppliers operation 26 3 313 638 523 85 926 734 DK Tax liabilities 27 3 52 213 371 4523 39 655 DL Accrued payroll 28 413 769 278 384 383 643 DM Other debts 29 272 583 213 DN Risks provisioned 3 DP TOTAL CURRENT LIABITIES (II) 31 12 563 559 87 115 955 25 797 CASH AND LIABILITY 32 DQ Banks, credit discount 33 DR Banks, credit cash discount, treasury 34 DS Banks, overdrafts 35 37 826 676 DT TOTAL CASH-LIABILITY (III) 36 37 826 676 DV Conversion difference Liability (V) (probable profit of exchange) 37 3 82 375 677 2 161 854 72 DZ GENERAL TOTAL (I+II+III+IV+V) 38 146 983 823 164 116 568 129 544
Ref :.. BALANCE SHEET - ASSET 5 Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 PROFIT AND LOSS ACCOUNT: CHARGES Sections Lines Financial year N 12 months OPERATING ACTIVITIES 1 RA Purchases of goods 2 RB - Variation of stocks (+ or -) 3 (Gross margin on goods see TB). 4 RC Purchases of raw materials and related supplies 5 RD - Variation of stocks (+ or -) 6 Financial year N-1 (12 months) (Gross margin on materials see TG). 7 RE Other purchases 8 21 11 2 655 9 712 531 345 RH - Variation of stocks (- or +) 9 RI Transports 1 3 933 483 RJ External services 11 16 812 489 5 7 133 183 493 RK Taxes 12 2 224 391 231 7 933 635 RL Other expenses 13 441 21 32 (Value added see TN) 14 RP Personnel expenses 15 1 818 5 566 1 132 952 341 including foreign employee 16 RQ (Gross surplus of operation see TQ). 17 RS depreciation on investments and other allowances 18 14 817 278 264 12 357 126 54 RW Total operation charges 19 57 245 554 2 3 343 726 868 (Operating profit see TX). 2 FINANCIAL ACTIVITY 21 SA Financial expenses 22 4 111 12 539 2 212 15 664 SC Exchange losses 23 252 167 SD depreciation on investments and other allowances 24 SF Total financial charges 25 4 111 264 76 2 212 15 664 (Financial income see UG) 26 SH Total expenses from ordinary activities 27 61 356 818 78 32 555 832 531 (Profit and loss from ordinary activities see IU) 28 WITHOUT ORDINARY ACTIVITIES (H.A.O.) 29 SK Accounting values from sale of property 3 1 269 15 97 SL Charges H.A.O. 31 SM Depreciation H.A.O. 32 1 362 17 366 SO Total of H.A.O charges 33 11 631 321 335 (Profit and loss H.A.O. see UP) 34 SQ Employee participation 35 SR Taxes on the income 36 39 952 833 283 41 254 SS Total participation and taxes 37 39 952 833 283 41 254 ST GENERAL TOTAL OF THE EXPENSES 38 73 379 92 876 32 839 242 786 (Net income see UZ) 39
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 7A FINANCIAL TABLE OF RESOURCES AND EMPLOYEES (TAFIRE) Note: All receivables and payables corrected e loss of unrealized foreign exchange gains (' conversion differentials asset and liability and brought back to their "history" amounts (input values).) Procedure to be applied to entries BH, BI, BJ, DI, DJ, DK, DL, DM, DN, FD, FI, FQ, FR in the table below, as well as to the first two rows of the table to control at the end of the table. 1 st PART: DETERMINATION OF FINANCIAL BALANCE OF FINANCIAL YEAR N GLOBAL SELFFINANCING CAPACITY (C.A.F.G.) CAFG = EBE - Disbursing the remaining charges excluding the disinvestments and fixed assets + cashable remaining products (TQ) E.B.E. 2 451 146 234 (SA) Financial expenses 1 4 111 12 539 (TT) Transfer of operation charges (SC) Exchange losses 2 252 167 (UA) Financial income (UE) Transfer of financial charges (SL) Charges 3 (UC) Exchange gain 97 691 2 (SQ) Participation 4 (UL) H.A.O. incomes 6 4 916 665 997 (SR) Taxes on the income 5 39 952 853 (UN) Transfer of charges H.A.O 7 Total (I) = 8 4 52 217 539 Total (II) 25 465 53 251 CAFG : Total (II) - Total (I) = 9 2 963 285 712 (N-1) SELFFINANCING (A.F.) AF=CAFG Distributions of dividends in the financial year (1) AF - 1 2 963 285 712 = 2 963 285 712 (N-1) VARIATION OF FINANCING REQUIREMENT OPERATIONS (B.F.E.) Var. BFE = Var. Stocks 2 + Var. Receivables 2 Var. Current debts 2 Variation of the stocks N-(N-1) Jobs increase (+) (BC) Goods 11 or (BD) Raw materials 12 or (BE) In progress 13 or (BF) Manufactured goods 14 or (A) Total Change in net stocks 15 or Resources Decrease (-) (1) Dividends paid during the financial year including interim dividends. (2) Excluding the elements of H.A.O. dividends
7B Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 FINANCIAL TABLE OF RESOURCES AND EMPLOYEES (TAFIRE) (continued) Variation of the stocks N-(N-1) Jobs increase (+) Resources Decrease (-) (BH) Suppliers, transferred advances 16 or (BI) Clients 17 15 5 687 321 or (BJ) Other receivables 18 or 5 165 189 936 (BU) Difference in exchange 19 921 622 (B) Total Change in net receivables 19 1 355 419 8 or Variation of the debts N-(N-1) (DI) Customer advances received (DJ) Suppliers operation (DK) Tax liabilities (DL) Accrued payrolls (DM) Other debts (DN) Contigency provisions 2 21 22 23 24 25 Jobs Decrease (-) 1 3 177 284 or or or or or or Resources increase (+) - 2 765 67 472 29 383 636 272 583 213 - (DV) Difference of conversion 1 64 52 957 (C) Change in total net current debts 26 or 3 74 917 993 VARIATION IN B.F.E. = (A) + (B) + (C) 27 6 65 51 15 or EXCESS OPERATING CASH (E.T.E.) ETE = EBE - Variation BFE - Capitalised production N N-1 Gross surplus on operation 28 2 451 146 234 - Variation of B.F.E. (- if jobs ; + if resources) 29 - Capitalised production 3 EXCESS OPERATING CASH 31 2 451 146 234
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration(in months): 12 8 Ref :.. FINANCIAL TABLE OF RESOURCES AND EMPLOYEES (TAFIRE) (contd.) 2nd PART : TABLE Sections Line s Financial year N Fiscal year N-1 Jobs Resources (E - R +) 1. INVESTMENTS AND DISINVESTMENTS 1 FA Fixed charges 2 (increase in financial year) Internal growth 3 FB Acquisitions / Disposals of intangible assets 4 4 646 918 259 11 468 447 58 FC Acquisitions / Disposals of tangible assets 5 External growth 6 FD Acquisitions / Disposals of financial assets 7 FF TOTAL INVESTMENT 8 4 646 918 259 11 468 447 58 FG VARIATION OF FINANCING REQUIREMENT 9 6 65 51 15 OPERATIONS (ref. Var. B.F.E.) FH A - ECONOMIC ACTIVITIES TO BE FINANCED (FF+FG) 1 35 828 972 216 FI III. JOBS / RESOURCES (B.F. H.A.O.) 11 FJ IV. FINANCIAL JOBS CONSTRAINTS (1) 12 2 81 86 937 Refunds (as per the schedule) of the borrowings and financial debts (1) Excluding the anticipated prepayment included in VII 13 FK B - TOTAL JOBS TO BE FINANCED 14 33 27 165 279 V. INTERNAL FINANCING 15 FL Dividends (jobs) / C.A.F.G. (Resources) 16 2 963 285 712 VI. FINANCING BY THE EQUITIES 17 FM Increase of capital by new contributions 18 FN Investment grants 19 FP Levies on the capital (Including withdrawals of the 2 operation) VII. FINANCING OF NEW BORROWINGS 21 BORROWING (2) 22 1 45 816 96 FR Other financial liabilities (2) 23 FS C - NET FINANCIAL RESOURCES 24 31 9 12 618 FT 1) - EXCESS OR INSUFFICINET OF FINANCIAL 25 2 18 62 661 RESOURCES (C-B) VIII. VARIATION IN CASH 26 Net cash 27 FU at the closing of financial year + or - 28 FV 11 857 5 at the opening of the financial year + or - - 29 FW 2 29 919 665 Change in Cash: (+ if jobs; - if Resources) -2 18 3 62 661 Checked by: D = VIII with opposite sign 31 218 62 661 (1) Excluding the anticipated prepayment included in VII (2) anticipated prepayments mentioned separately in jobs CONTROL (from mass of balance sheets of N and N - 1) 32 Jobs or Resources Change in working capital (F.d.R.) FdR (-1)- FdR (212) 33 or 2 88 527 11 Variation of total BF (B.F.G.) BFG(N) BFG (N-1) 34 4 16 589 761 or Variation in cash (T) : T(N)-T(N-1) 35 2 18 62 661 TOTAL 36 4 16 589 761 = 4 16 589 761 I. ACCOUNTING POLICIES AND RULES
1 PRESENTATION This publication contains the financial statements of Congo DRC Towers S.A. in respect of the financial period ended on 31 December 214. Congo DRC Towers S.A. is a private limited company with the Congolese law having capital of 9,, Congolese Francs, registered in the New Register of trade under the number K.G 992 M and the National Identification under number 1-73-N 61455 M whose primary activity the operation, maintenance and management, in the DRC in addition of telecommunications towers. 2. BASE OF PREPARATION OF FINANCIAL STATEMENTS 2.1 Basic preparation The financial statements are prepared as per the conventional method based on the historical cots, as modified by the re-evaluation of the fixed assets described in Note 2.6. They are presented in accordance with accounting principles generally accepted by the OHADA accounting law, in this case the rule of prudence, correspondence between the opening balance sheet and the closing balance sheet, separation of the financial years, transparency, the related importance. The main accounting principles and methods below selected for the preparation of these financial statements described 214 require with regards to their reality in the period. 2.2 Continuity of operation On 31 st December 214, the company respectively had a circulating net liabilities and net assets of CDF 114 billion and CDF 9.5 billion, and made a profit of CDF 8.4 billion for the year ended on 31 st December 214. Furthermore, on July 8, 214, the company entered an agreement with the company HT DRC InfraCo SARL ("Purchaser") for the sale of its assets. The execution of the transaction is subject to the achievement of conditions precedent which is likely to be finalized in the short term. On 31 st December 214, the company has a net circulating liability of CDF 114 billion that essentially represents commitments to companies within the group. The company during the previous year achieved an income before depreciation and taxes of CDF 1 billion for the year ended on that date. The holding company of the BAIN group issued a letter of support to the company for a continuous support to the company in the foreseeable future. In addition, with regard to the prior conditions for the transfer of 1% of the assets, the company has intend to decide on actions to be taken at the end of sale of the towers and after the receipt of the transfer price. 11
These conditions indicate the existence of concern and to disclose any material uncertainties that may cast doubt upon its ability to continue as a going concern. 2.3 Transactions in foreign currencies The transactions in foreign currencies are converted to Congolais Franc (CDF) at the rates of exchange prevailing at the date of transaction. The profits and losses originating from the payment of these transactions are accounting in the income statement. In compliance with the prudence concept, the profit from exchange rates are not taken into account on the income statement. With respect to foreign exchange losses, they are first recognized in the accounts of active conversion rate before taking profit after consideration of the net foreign exchange position. The closing rate on 31st December 214 is CDF 925.38 /1US$. This rate has experienced a slight increase compared to December 31, 213, which stood 92 / 1 US 2.4 Recognition of income The revenues are recorded insofar as it is possible that these correspond to a transfer of value in favour of the company and these can be determined on a reliable basis. The rental of sites by DRC TOWERS is the main source of income. In fact, there are sites rented to AIRTEL GSM as well as to other operators. 2.5 Intangible assets The costs relative to the licenses acquired are capitalized and amortized on a linear base depending on its validity duration. The values of intangible assets as well as the cumulated amount of depreciations are re-evaluated by application of the Ordinance-Law no. 89-17 dated 18 th February 1989 on the basis of a stipulations of a ministerial order updated at the end of each financial year. 12
2.6 Tangible assets As or the intangible assets, the values of tangible assets as well as the cumulated amount of depreciations are re-evaluated by application of the Ordinance-Law no. 89-17 dated 18 th February 1989 on the basis of a stipulations of a ministerial order updated at the end of each financial year. The depreciation on the tangible assets are calculated by application of the linear method as per the rates below: Description (%) - Land Unamortised - Buildings and fittings 5 - Facilities / Networks 1 - Office equipment 1 - Computer and home equipment 2 - Vehicles 2 2.7 The clients receivables and related accounts The receivables clients and accounts related to the balance sheet date are reviewed and depreciated at the end of the year based on their anticipation or if the management believes that there are doubts about the chances of recovery. In fact, Towerco constitutes impairment for all claims the age of which exceeds 9 days. The provisions are also made for all cases where the management believes that the receivables are uncollectible.
ADDITIONAL INFORMATION ON THE BALANCE SHEET AND IN THE PROFIT AND LOSS ACCOUNTS: The tables presented in the following pages are an integral part of the attached statement: TABLE 1: FIXED ASSETS TABLE 2: DEPRECIATIONS TABLE 3: CAPITAL GAINS AND TRANSFERS OF LESS CAPITAL GAINS TABLE 4: PROVISIONS MENTIONED IN THE BALANCE SHEET TABLE 5: PROPERTY TAKEN IN LEASING AND RELATED CONTRACTS TABLE 6: MATURITY OF LOANS AT END OF FINANCIAL YEAR TABLE 7: MATURITY OF DEBTS AT END OF FINANCIAL YEAR TABLE 8: INTERMEDIATE CONSUMPTION OF THE FINANCIAL YEAR TABLE 9: DISTRIBUTION OF INCOME AND OTHER CHARACTERISTICS ELEMENTS OF FIVE FINANCIAL YEARS TABLE 1: PROPOSED ALLOCATION OF PROFIT OF THE FINANCIAL YEAR TABLE 11: OUTSIDE STAFFING, PAYROLL AND PERSONNEL
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 Lines FIXED ASSETS SITUATIONS AND TRANSACTIONS A REDUCTION C D = A + B - C Following Gross an amount at Create Assets assessment the SECTIONS Gross amount at Acquisitions, in the Transfer item to closing of the financial year adjustments Transfer current item and financial Gross amount at opening item to item current adjustment year the closing FIXED CHARGES Total lines 2 and 3 1 142 572 972 142 572 972 Establishment expenses and deferred charges to be 2 142 572 972 142 572 972 distributed Bond redemption premium 3 INTANGIBLE ASSETS line 5 to 8 4 Cost of research and development, Software, 5 patents, licences, trade marks 6 Goodwill 7 Other intangible assets 8 INTANGIBLE ASSETS line 1 to 15 9 115 929 58 996 4 646 918 259 11 468 447 58 145 17 98 197 Land 1 2 372 865 711 1 533 616 9 1 291 299 789 2 615 182 822 Buildings 11 Fixtures and fittings 12 94 922 597 546 18 554 978 88 7 821 639 584 15 655 936 5 Equipment 18 634 45 738 2 558 323 272 36 836 861 325 13 2 355 57 685 Transport equipment 14 115 929 58 996 4 646 918 259 685 2 615182 822 DVANCE PAYMENTS TRANSFERRED ON 15 ASSETS lines 17 and 18 FINANCIAL ASSETS 16 118 645 4 118 645 4 Equity securities 17 Other financial fixed assets 18 118 645 4 118 645 4 19 GENERAL TOTAL 116 19 727 8 4 646 918 259 11 468 447 58 145 369 198 29
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 SITUATIONS AND TRANSACTIONS NON DEDUCTIBLE COSTS A B C D = A + B - C SECTIONS FIXED CHARGES Establishment expenses and deferred charges to be distributed Bond redemption premium TOTAL LINES 2 and 3 4 INTANGIBLE ASSETS 5 Cost of research and development, Software, patents, licences, 6 trade marks 7 Goodwill 8 Other intangible assets 9 TOTAL (I) Lines 6 to 9 1 TANGIBLE FIXED ASSETS Land 11 Buildings 12 Fixtures and fittings 13 Equipment 14 Transport equipment 15 16 Lines 1 2 3 ACCUMULATED DEPRECIATIONS AT THE FINANCIAL YEAR OPENING 7 431 64 52 4 925 521 534 INCREASE OF ALLOWANCE IN FINANCIAL YEAR 9 648 994 714 6 53 453 915 DECREASES: Depreciation related to elements out of assets 8 493 56 24 547 927 822 ACCUMULATED DEPRECIATIONS AT THE FINANCIAL YEAR CLOSING 8 587 39 3 1 98 47 628 TOTAL (II): Lines 12 to 16 17 12 357 126 54 16 179 448 629 9 41 488 26 19 495 86 658 TOTAL (I) + (III) 18 12 357 126 54 16 179 448 629 9 41 488 26 19 495 86 658 Total Charge for the financial year 19 16 179 448 629
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 11 CAPITAL GAINS AND TRANSFERS OF LESS CAPITAL GAINS (1) SECTIONS SITUATIONS AND TRANSACTIONS Research and development expenses Software, patents, licences, trade marks Goodwill Other intangible assets Lines 1 2 3 4 GROSS AMOUNT A B C = A - B D E = D - C PRACTICED DEPRECIATION NET ACCOUNTING VALUE PRICE OF DISPOSAL Intangible assets: Total lines 1 to 4 5 Land Buildings Fixtures and fittings 6 7 8 1 291 299 789 7 821 639 584 651 368 267 1 291 299 789 7 17 271 318 1 291 299 789 7 821 639 584 Equipment 9 2 355 57 685 547 927 822 1 87 579 863 2 355 57 685 Transport equipment 1 PROFIT OR LOSS 651 368 267 547 927 822 1 199 296 88 Tangible assets: Total lines 6 to 1 11 11 468 447 58 1 199 296 88 1 269 15 97 11 468 447 58 1 199 296 88 Equity securities 12 Other financial fixed assets 13 Financial assets Total lines 12 and 13 14 Total lines 5, 11 and 14 15 11 468 447 58 1 199 296 88 1 269 15 97 11 468 447 58 1 199 296 88
12 Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 PROVISIONS MENTIONED IN THE BALANCE SHEET TYPE SITUATIONS AND TRANSACTIONS 1. Regulated provisions 1 2. Financial provisions for risks and charges 2 3. Provisions for immobilisation depreciations 3 TOTAL (1) Lines 1 to 3 4 4. Depreciations of stocks 5 Lines A B C D = A + B - C INCREASES: ALLOCATION DECREASES: WRITE BACK Provisions at the closing of financial year Provision at the beginning of the year of operation Financial Excluding Ordinary Activities of operation Financial Excluding Ordinary Activities 5. Depreciations and provisioned risks (securities) 6 441 136 525 441 136 525 6. Depreciations and provisioned risks (treasury) 7 TOTAL (II): Lines 5 to 7 8 441 136 525 441 136 525 TOTAL (I) + (II) 9 441 136 525 441 136 525
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 14 MATURITY OF LOANS AT END OF FINANCIAL YEAR TYPE CLAIMS DEBTS OF FIXED ASSETS CURRENT ASSETS OUTSTANDING BALANCE SITUATIONS AND TRANSACTIONS Loans (1) 1 Lines GROSS AMOUNT Receivables from participations 2 118 645 4 118 645 4 Other financial fixed assets 3 ANALYSIS BY MATURITY OTHER ANALYSIS FOR ONE YEAR OR MORE WITH DUE FOR MORE THAN ONE YEAR STATEME NT FOR TWO YEAR OR MORE MORE THAN TWO YEARS AMOUNTS TO AFFILIATED COMPANIES Total lines 1 to 3 4 118 645 4 118 645 4 Suppliers 5 Trade accounts receivable 6 19 567 2 576 19 567 2 576 Personnel 7 Social security and other welfare agencies 8 Status 9 448 86 41 448 86 41 International organisations 1 Associations and group 11 15 917 397 233 Miscellaneous debtors 12 3 578 473 98 H.A.O. claims 13 Expenses paid in advance 14 1 465 236 219 1 497 975 451 Total lines 5 to 14 15 21 481 242 836 21 442 652 633 15 835 485 371 Total lines 4 and 15 16 21 599 887 876 21 561 297 673 15 835 485 371 AMOUNTS REPRESENTE D BY EFFECTS (1) - Loans granted during the financial year Amount; Reimbursement obtained during the financial year amount
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 16 INTERMEDIATE CONSUMPTION OF THE FINANCIAL YEAR (Specific accounts of) TYPE Account no. AMOUNT (in thousands of CFA francs) WATER 1 651 ELECTRICITE 2 652 1 421 334 OTHER ENERGIES 3 653 19 679 866 NOT STORABLE MAINTENANCE SUPPLIES 4 654 NOT STORABLE OFFICE SUPPLIES 5 655 SMALL EQUIPMENT AND TOOLING 6 656 TRANSPORTATION FOR THIRD PARTIES ACCOUNT 7 613 TRANSPORT FOR EMPLOYEE 8 614 MAINTENANCE AND REPAIR OF REAL PROPERTY 9 6241 4 461 MAINTENANCE, REPAIR OF PERSONAL PROPERTY 1 6242 7 846 ADVERTISING, PUBLICATIONS, PUBLIC RELATIONS 11 627 23 TELECOMMUNICATIONS CHARGES 12 628 49 495 COMPENSATION OF INTERMEDIARIES AND ADVISORS 13 632 3 247 848 Total lines 1 to 13 14 24 41 874
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 17 DISTRIBUTION OF INCOME AND OTHER CHARACTERISTICS ELEMENTS OF FIVE FINANCIAL YEARS TYPE OF INDICATIONS CONCERNED FINANCIAL YEARS (1) N N-1 N-2 N-3 N-4 STRUCTURE OF THE CAPITAL AT END OF FINANCIAL YEAR (2) 1 Capital stock 2 9 9 Common shares 3 1 1 Shares to preferred dividends (A.D.P.) non-voting 4 New shares to be issued 5 By conversion of bonds 6 By exercise of subscription rights 7 OPERATIONS AND INCOMES FOR THE FINANCIAL YEAR (3) 8 Sales turnover without taxes 9 62 879 421 972 28 271 191 657 Profit from ordinary activities excluding charges and reversals 1 16 437 572 548 8 94 449 833 (Operating and Financial) Employee participation in profits 11 Taxes on the income 12 39 952 833 283 41 254 Net income (4) 13 8 373 6 162-4 546 86 475,13 INCOME PER SHARE 14 Distributed income (5) 15 Dividend allocated to each share 16 PERSONNEL AND SALARY POLICY 17 Average number of employees during the year (6) 18 23 29 Average number of foreign employees during the year 19 11 Payroll distributed during the financial year (7) 2 1 611 79 44 1 59 64 772 Benefits paid during the financial year (8) {Social Security, welfare} 21 161 742 254 73 347 569 Foreign employee charged to the company (9) 22 44 517 872
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 18 PROPOSED ALLOCATION OF PROFIT OF THE FINANCIAL YEAR ALLOCATIONS AMOUNTS SOURCES AMOUNTS Legal reserve (1) (1) 1 Refer to previous earning (losses) 1 162 89 154 Statutory, contractual reserves 2 Brought forward from preceding fiscal year (profit) Other reserves (free) 3 Net profit of the financial year 8 373 6 162 Dividends (2) 4 From reserves (3) Other allocations 5 Brought forward from preceding fiscal year 6 9 536 49 316 TOTAL (A) 7 9 536 49 316 Checked by: Total A = Total B TOTAL B 9 536 49 316
Description of the company: Congo RDC Towers S.A. Address: Kinshasa, Gombe Tax identification no.: 63/B/99 Financial year closed on 31/12/214 Duration (in months): 12 19 OUTSIDE STAFFING, PAYROLL AND PERSONNEL EFFECTIVE AND MASS - SALARY QUALIFICATIONS NATIONAL OTHER CEMAC EFFECTIVE MASS SALARY OTHER OHADA OUTSID E OHADA TOTAL NATIONAL OTHER CEMAC STAES M F M F M F M F M F M F M F M F A. Own staff 1. Senior officers 1 2 2 154 22 234 154 22 234 2. Senior technicians and middle managers 2 1 1 771 11 171 771 1 1 171 3. Technicians, supervisors and skilled workers 3 11 11 848 211 288 848 211 288 4. Employees, labourers, workers and apprentices 4 Total lines 1 to 4 5 23 23 1 773 532 694 1 773 532 694 Permanent 6 Temporary 7 OTHER SATES OHADA OUT OF Organisa tion for the Harmoni sation of Business Law in Africa TOTAL B. Foreign employee BILLING TO THE COMPANY 1. SENIOR OFFICERS 8 2. Senior technicians and middle managers 9 11 11 44 517 872 3. Technicians, supervisors and skilled workers 1 4. Employees, labourers, workers and apprentices 11 Total lines 8 to 11 12 11 11 44 517 872 Permanent 13 11 11 Temporary 14 Total lines 5 to 12 15 34 34 1 818 5 566 M F Masculine Feminine