Question

In Millions of BHD except Per Share 12 Months Ending 2014Y 31/12/2014 31/12/2015 31/12/2016 31/12/2017 30/09/2018 1,663.000 1,663.000 1,663.000 1,663.000 1,663.000 1,663.000 1,663.000 1,663.000 1,663.000 1,663.000 2015 Y 2016Y 2017 Y Last 12M 2 ic Shares Outstandin 4 Diluted Weighted Avg Shares c Weighted Avg Shares1,663.000 1,663.000 1,663.000 1,663.000 1,663.000 6 Per Share Data Items 8 Revenue 9 EBITDA 10 Operating Income 11 Net Income to Common- Basic 12 Net Income before XO- Basic 13 Normalized Net Income Basic 14 Net Income to Common- Diluted 15 Net Income before XO Diluted0.030 0.0300.0230.0020.015 16 Normalized Net Income Diluted 17 Dividends 18 19 Cash Flow 20 Free Cash Flow 21 22 Cash & Equivalents 0.234 0.087 0.047 0.030 0.030 0.040 0.030 0.224-11-0.221 0.083 0.042 0.030 0.030 0.034 0.030 0.081 0.039 0.023 0.023 0.0290.033 0.023 0.228 0.075 0.035 0.002 0.002 0.243 0.086 0.047 0.015 0.015 0.045 0.015 0.002 0.034 0.025 0.029 0.025 0.033 0.025 0.045 0.040 0.025 0.077 0.055 0.074 0.018 0.077 0.034 0.055 0.022 0.061 0.033 0.090 0.096 0.104 0.095 0.084

Answer 1

1.Weighted av. no.of both basic & diluted shares outstanding had been constant through-out.

2.Revenues show a decreasing trend till 2016 fiscal, increasing thereafter , for the last two years.

3.Both EBITDA & Opg. Income show decreasing trends till 2017 fiscal, increasing thereafter in 2018.

--- shows that operating expenses increase till 2017 fiscal, after which it decreases in 2018.

In 2018, the increase can be partly attributed to increase in revenues as well as to decrease in expenses.

4.Both the net income to Basic & diluted (including before-XO)show decreasing trends till 2017 fiscal, increasing thereafter in 2018

5. As the no.of shares outstanding in both , are constant, the decrease/increase in per share net income is due to increase / decrease in revenues/expenses .

6.Cash flow per share has decreased in 2015 2017 end due to increase in cash operating expenses.

7. Changes in free cash flow per share depends on , changes to working capital and capital expenditures incurred during the year.

8. Cash & cash equivalents are maintained almost at the same level , but for 2018.