TIDMZCC
RNS Number : 1797L
ZCCM Invs.Hldgs PLC
01 September 2023
SENS ANNOUCEMENT
(the "Announcement")
ISSUER
ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")
Incorporated in the Republic of Zambia
Company registration number: 119540000771
Share Code: ZCCM-IH
ISIN: ZM0000000037
BROKER
Pangaea Securities Limited
[a member of the Lusaka Securities Exchange]
Regulated and Licensed by the Securities and Exchange Commission
Zambia
Telephone Number: +260 211 220707 | Website: www.pangaea.co.zm
AUTHORISATION
Approval for this Announcement has been granted by:
-- The Lusaka Securities Exchange ("LuSE")
-- The Securities and Exchange Commission Zambia ("SEC")
-- ZCCM-IH
DISCLAIMER AND RISK WARNING
The announcement contained herein contains information that may
be of a price sensitive nature.
Investors are advised to seek the advice of their investment
advisor, stockbroker, or any professional duly licensed by the
Securities and Exchange Commission of Zambia to provide securities
advice.
ISSUED ON: 1 September 2023
ZCCM INVESTMENTS HOLDINGS PLC
(Incorporated in the Republic of Zambia)
DIRECTORS' INTERIM UNAUDITED FINANCIAL RESULTS FOR ZCCM
INVESTMENTS HOLDINGS AND ITS SUBSIDIARIES ("THE GROUP") FOR THE SIX
MONTHS PERIODED 30(TH) JUNE 202 3
INTRODUCTION
In compliance with the requirements of the "Securities Act, No.
41 of 2016 of the Laws of Zambia" and the Listing Rules of the
Lusaka Securities Exchange, ZCCM Investments Holdings PLC
("ZCCM-IH", "ZCCM", "the Company", "We" or "Our" ) announces the
interim unaudited financial results of the Company and its
Subsidiaries (collectively referred to as the Group) for the six
months' period ended 30(th) June 202 3 .
CHIEF EXECUTIVE OFFICER'S COMMENTARY
Looking back at the first half of 2023, there has been
significant developments within the ZCCM-IH portfolio, key amongst
them is the conversion of the profit-based dividend rights in
Kansanshi Mining Plc into a 3.1% gross revenue royalty right. This
is a significant step towards ZCCM-IH having predictable and
guaranteed revenue in line with Our strategic pillar of maximising
shareholder value from Our existing portfolio. Further, during the
period under review ZCCM-IH has increased its shareholding in
Copperbelt Energy Corporation Plc ("CEC") from 24.1% to 31.07%, a
flagship asset in Our portfolio that is currently expanding its
renewable energy footprint in the country. We have also entered
partnership with Kobold Metals Zambia ("Kobold Metals" or
"Kobold")in Mingomba Mining Ltd ("Mingomba" or "MML") over one of
the most promising copper and cobalt deposits licence areas in
Chililabombwe, on the Copperbelt.
Notwithstanding the above gains, as We enter the second half of
2023, there are several challenges that are affecting Our portfolio
companies' performance. These include liquidity constraints for
mining development and exploration projects, low copper production
especially from old mines, compounded by low grades, leading to low
productivity, and equipment and machinery failures in some
instances inter alia. ZCCM-IH is proactively working with its
subsidiaries and associate companies to address some of the
challenges to scale up production. For instance, with Mopani Copper
Mines Plc ("Mopani"), Our significant subsidiary's future growth
prospects hinges on its planned completion and commissioning of its
expansion capital projects. Mopani has planned to ramped-up
production as these projects are expected to be commissioned to
full capacity by 2027. In addition to spending on its expansion
projects, the Company has continued to ensure that sustaining
capital is secured and utilised in the best way possible given the
current funding limitations. During the first quarter of 2023,
ZCCM-IH advanced a total of US$37 million to Mopani for its working
capital needs. The Group remains optimistic with the enormous task
ahead to secure funds for Mopani of more than US$300 million to
complete the expansion projects over the next three years, as well
as an additional US$150 million for sustaining capital over the
same period. The investments will support the Zambian Government's
long-term set copper production target of 3 million metric tonnes a
year by 2032, from around 800,000 metric tonnes that the country
produces currently per annum.
Given the challenges being experienced within the Group and
associate companies, We have since reviewed and refined the ZCCM-IH
Company's Strategic Plan for the period 2020 to 2026 to optimize
Our deliverables for the remaining 4 years ,and to make it more
responsive in driving stakeholder value creation. The refinement is
aimed at improving Our overall performance by streamlining Our
portfolio and targeting new growth opportunities in the mining and
mining related sectors. These changes detailed in the refined
Strategic Plan will be unveiled at the next Shareholder Open Day
which is scheduled for the third quarter of this year.
STRUCTURE OF THE ZCCM-IH GROUP
The ZCCM-IH Group consists of the following Ten (10)
companies:
Name Shareholding
Mopani Copper Mine PLC 100.00%
--------------
Kariba Minerals Limited 100.00%
--------------
Ndola Lime Company Limited ( in liquidation) 100.00%
--------------
Misenge Environmental and Technical Services
Limited 100.00%
--------------
Mushe Milling Limited (in liquidation) 100.00%
--------------
Kabundi Resources Limited 100.00%
--------------
Limestone Resources Limited 100.00%
--------------
Investrust Bank PLC 7 1 . 40 %
--------------
Zambia Gold Company Limited 51.00%
--------------
The Company also has other interests in the undernoted
companies:
Name Shareholding
Rembrandt Properties Limited 49.00%
--------------
Central African Cement Limited 49.00%
--------------
Maamba Collieries Limited 35.00%
--------------
Copperbelt Energy Corporation PLC 31 . 40 %
--------------
Konkola Copper Mines PLC 20.60%
--------------
Kansanshi Mining PLC 20.00%
--------------
CNMC Luanshya Copper Mines PLC 20.00%
--------------
Lubambe Copper Mines PLC 20.00%
--------------
Mingomba Mining Limited 20.00%
--------------
NFCA Africa Mining PLC 15.00%
--------------
Chibuluma Mines PLC 15.00%
--------------
Chambishi Metals PLC 1 0 .00%
--------------
Copper Tree Mineral Limited 15.58%
--------------
Oranto Oil Block 10.00%
--------------
Nkana Alloy Smelting Company Limited 10.00%
--------------
FINANCIAL PERFORMANCE
ABRIDGED GROUP STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME THE SIX MONTHSED 30(TH) JUNE 202 3
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
Revenue 7,115,004 7,462,546
Gross (loss)/ profit (561,783) 10,949
(1, 666,487
Operating loss ) (1,447,190)
( 1,749,567
Net finance cost ) (710,993)
Share of profit of equity accounted 1, 228
investees , 724 1,343,238
( 2,187,330 (814,94 5
Loss before tax ) )
( 222,217
Income tax ) (2,407)
( 2 , 409,547 (817,35 2
Loss for the period ) )
Basic and diluted earnings per share ( 14.98
(ZMW) ) (5.08)
ABRIDGED SEPERATE STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME THE SIX MONTHSED 30(TH) JUNE 202 3
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
Revenue 1, 084,608 1,249,517
Operating profit 889,911 1,173,987
Net finance (cost)/ income (115,654) 42,357
Profit before tax 774,257 1,216,344
(222,768
Income tax ) (2,243)
Profit for the period 551,489 1,214,101
Basic and diluted earnings per share
(ZMW) 3.43 7.55
ABRIDGED GROUP STATEMENT OF FINANCIAL POSITION FOR THE SIX
MONTHS PERIODED 30(TH) JUNE 202 3
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
Assets
35 , 462
Non-Current Asset , 967 48,320,166
Current Assets 1 2 , 845,880 10,730,324
48 , 3 0
Total Assets 8 , 8 4 7 59,050,490
Equity and Liabilities
Shareholders' Funds 6,507,038 23,801,275
Non-Current Liabilities 30,339,782 27,625,652
Current Liabilities 11,462,027 7,623,563
Total Equity and Liabilities 48,308,847 59,050,490
ABRIDGED SEPERATE STATEMENT OF FINANCIAL POSITION FOR THE SIX
MONTHS PERIODED 30TH JUNE 202 3
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
Assets
2 1 , 705
Non-Current Asset , 749 23,029,315
Current Assets 4,488,171 2,792,404
2 6 , 193
Total Assets ,9 20 25,821,719
Equity and Liabilities
Shareholders' Funds 25,733,633 19,124,760
Non-Current Liabilities 44,497 6,438,587
Current Liabilities 415,790 258,372
Total Equity and Liabilities 2 6,193,920 25,821,719
ABRIDGED GROUP STATEMENT OF CASH FLOWS FOR THE SIX MONTHS
PERIODED 30TH JUNE 202 3
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
Net cash (used)/inflow from operating activities (2,852,797) 729,504
Net cash inflow/(used) from investing activities 1,281,703 (1,894,092)
Net cash used from financing activities 2,149,825 847,444
Increase/(decrease) in cash and cash equivalents 578,731 (317,144)
Cash and cash equivalents at the beginning
of the period (81,060) 184,625
Cash and cash equivalents at the end of
the period 497,671 (132,519)
ABRIDGED SEPERATE STATEMENT OF CASH FLOWS FOR THE SIX MONTHS
PERIODED 30TH JUNE 202 3
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
Net cash (used)/inflow from operating activities (808,369) 1,060,651
Net cash inflow/(used) from investing activities 1,184,450 (1,084,855)
Net cash used from financing activities - (1,135)
Increase/(decrease) in cash and cash equivalents 376,081 (25,339)
Cash and cash equivalents at the beginning
of the period 45,587 81,498
Cash and cash equivalents at the end of
the period 421,668 56,159
ABRIDGED GROUP STATEMENT OF CHANGES IN EQUITY
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
Balance at 1 January 7,908,807 27,127,358
( 2,409,547
(Loss)/profit for the period ) (817,352)
Other comprehensive income and reserves 1,007,778 (2,508,731)
Balance at 30 June 6,507,038 23,801,275
ABRIDGED SEPERATE STATEMENT OF CHANGES IN EQUITY
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
24 ,6 79
Balance at 1 January , 853 18,652,446
Profit for the period 551,489 1,214,101
Other comprehensive income/(loss)
and reserves 502,291 (741,787)
25 , 733
Balance at 30 June , 633 19,124,760
FINANCIAL PERFORMANCE HIGHLIGHTS
(I) Group Performance
The Group recorded increased losses of ZMW2.41 billion
(US$125.84 million) compared to ZMW817.35 million (US$47.70
million) in the six months period ended 30(th) June 2022 impacted
by the underperformance of Mopani Copper Mines Plc ("Mopani") which
has contributed a loss of ZMW4.02 billion (US$209.87 million).
Mopani's underperformance is due to increased cost of production,
lower copper production, significant finance cost of ZMW1.54
billion ( US$ 80.29 million) (2022: ZMW 563 million ( US$ 31.74
million), investment asset impairment and fair value adjustment of
ZMW6.7 billion (US$ 302.8 million).
The Group's total assets is ZMW48.31billion (US$ 2.76 billion)
as at 30 June 2023 compared to prior period of ZMW59.05 billion
(US$3.45 billion). The movement was mainly on account of the
impairment adjustment referred to above.
There was an improvement in the liquidity position resulting in
an increase in Group cashflow position at the end of the period to
ZMW 497.67 million (US$28.43 million) from a negative cash position
of ZMW 132.52 million (US$7.56 million) recorded in the prior
period. The improvement in the cashflow was mainly due to prudent
working capital management and royalty income received from
Kansanshi of ZMW 742.56 million (US$ 38.78 million).
All financial results for ZCCM-IH's subsidiaries are
consolidated line by line with ZCCM-IH separate financial
statements as per IAS 27: Consolidated and Separate Financial
Statements. Under these reporting requirements, all assets and
liabilities of the subsidiary companies are added to the assets and
liabilities of the ZCCM-IH separate financial statements. ZCCM-IH
subsidiaries are listed under the sub-heading 'Structure of the
ZCCM-IH Group' above.
(II) Company Performance
The Company recorded a profit of ZMW551.49 million (US$28.80
million) compared to ZMW1.21 billion (US$ 70.85 million) recorded
in the same period in 2022. The movement in the profitability is on
account of an exceptional dividend receipt from Kansanshi Mining
PLC of ZMW769.8 million (US$43.5 million) in the prior year, which
accounted for a significant portion of the revenue collected. The
good performance at company level was negated by the
underperformance of Mopani at group level.
The Company's total assets increased from ZMW25.73 billion as at
30(th) June 2022 to ZMW26.19 billion as at 30(th) June 2022 mainly
due to the increase in current assets to ZMW 4.49 billion
(US$256.42 million) recorded in 2021 from ZMW 2.79 billion ( US$
163.28 million) recorded in 2022.This was on account of funding
advanced to subsidiary companies.
PERFROMANCE AND OPERATIONAL UPDATES
Updates relating to key developments within the company
portfolio during the period under review are as follows:
(I) Appointment of new Board Chairman
As announced via the Lusaka Security Exchange Stock Exchange
News Services ("SENS") on 8th May 2023, Mr. Kakenenwa Muyangwa was
appointed ZCCM-IH Board Chairperson effective 5th May 2023 after
the resignation of the previous Board Chairperson, Ms Dolika
Banda.
Mr. Muyangwa is a mining engineer and accountant with a wealth
of experience spanning over 35 years in the old Zambia Consolidated
Copper Mines Limited (ZCCM) mining, business planning and strategy,
corporate recoveries, turnarounds, audits, as well as metals and
concentrates trading and financing.
We look forward to working and supporting his leadership
contribution towards the transformation of ZCCM-IH for the benefit
of all Zambians and other stakeholders.
(II) Royalty Rights in Kansanshi Mining Plc
At an Extraordinary General Meeting ("EGM") held on 31(st) March
2023, the Company's shareholders approved the conversion of its 20%
profit-based dividend rights in Kansanshi Mining Plc ("KMP") into a
3.1% gross revenue royalty right.
The estimated life of the mine is 22 years, until 2045, during
which the Company's annual income from KMP is anticipated to be
consistent and predictable as this is based on sales of all metal
products from the mine sold at prevailing market commodity prices,
as opposed to profit-based dividends.
This transaction is in line with the key objective of the
ZCCM-IH Strategic Plan of maximising value extraction from
investments.
(III) Mopani Copper Mines Plc: Strategic Equity Partner
Process
Mopani's performance is significant to the ZCCM-IH group
financial results. During the period, Mopani contributed 83% and
99% of the Group's reported revenue and loss for the year,
respectively. In addition, Mopani accounted for 43% and 92% of the
Group's total assets and liabilities respectively .
B elow is a summary of Mopani's financial performance which has
been incorporated in the Group's Unaudited Financial
Statements:
Statement of Profit and Loss and Other Comprehensive - Mopani
Copper Mines Plc
30 June 30 June
202 3 202 2
ZMW'000 ZMW'000
5 , 883 , 7 , 271 ,
Revenue 489 002
Gross (loss)/profit (1,631 , 555) (53 , 393)
( 2,402 , ( 1,368 ,
Operating loss 134 ) 375 )
( 1,616 , ( 738 , 2
Net finance cost 466 ) 5 9 )
( 4 , 018 ( 2 , 106
Loss for the period , 600 ) , 634 )
Statement of Financial Position - Mopani Copper Mines Plc
30 June 202 30 June
3 202 2
ZMW '000 ZMW'000
14 , 600 , 28 , 760
Property, plant, and equipment 035 ,5 87
3 , 870
Inventories 4, 206 , 129 , 9 8 6
Trade and other receivables 1 , 862,960 2 , 878,010
20 , 669 , 35 , 509
Total assets 124 , 583
Equity and liabilities
(17 , 705 , 2 , 168
Capital and reserves 617) , 516
2 9 , 615 , 2 6 , 191
Borrowings 122 , 012
4,0 37 ,1
Trade and other payables 4 , 942 , 823 32
2 5 3 ,
Bank overdraft 6 52 , 638 811
Retirement benefits 3 87 , 571 27 0, 177
Provisions 1,683,343 1,537,607
1,05 1 ,
Provisions for environmental rehabilitation 1, 093 , 244 328
20 , 669 , 35 , 509
Total equity and liabilities 124 , 5 8 3
For the period ended 30 June 2023, Mopani recorded a loss
ZMW4.019 billion (US$195.65 million) compared to ZMW2.107 billion
(US$120.105 million). The movement in the recorded loss is due to
the reduced copper production which was 14,946 tonnes lower than
the budget for the period ended 30 June 2023.
As per the Market Announcement dated 15 June 2022, ZCCM-IH
engaged Rothschild & Co., (Pty) Ltd to assist ZCCM-IH with the
strategic review of Mopani to ensure its sustainability and
continued development. The review has come up with strategic
options that will ensure Mopani operates optimally, and the process
is expected to be completed by December 2023.
"
One of the key outcomes is to bring on board a strategic equity
partner ("SEP"), which will introduce sustaining capital for the
stabilization of the mine operations and expansion capital for the
completion of the expansion projects. This process is near
complete, with the SEP expected to be announced in due course.
The completion of Mopani's expansion projects will be a major
win for ZCCM-IH, and the Zambian people with projected production
once completed of over 200,000 tonnes of finished copper cathode
from 2027 onwards. Copper is in high-demand due to its use in
renewable energy and electric vehicles ("EVs") and ZCCM-IH will
continue to invest in this sector via existing and new
opportunities.
(IV) Shareholding increase in Copperbelt Energy Corporation Plc ("CEC")
During the period under review ZCCM-IH increased its
shareholding in Copperbelt Energy Corporation Plc ("CEC") from
24.1% held since 2018, to 31.07%. The increase was influenced by
Our strategic drive to maximise shareholder value in profitable and
viable ventures; coupled with the confidence We have in CEC's
projected business growth arising from its expansion into renewable
energy.
(V) Mingomba Mining Limited ("MML") Launch
Mingomba Mining Limited is a partnership between KoBold Metals
52%, EMR Capital, 28%, and ZCCM-IH, 20%. MML was established in
2023 and is currently undertaking a drilling programme in the
Mingomba license area in Chililabombwe, a tenement close to the
Konkola Copper Mine ("KCM") and the Democratic Republic of Congo
border area which was previously a part of the Lubambe mine licence
area.
So far, Kobold has drilled a total of about 7,000 metres in six
drill holes and three wedges as at end of June 2023. There are five
drill rigs on site, and the company plans to drill thirteen holes
by end of 2023 at an average depth of about 1,500 metres each.
Kobold is using Artificial Intelligence ("A.I") computer-based
techniques in the exploration process, which will help fast track
the process to orebody definition and thereafter, mine
development.
(VI) Zambia Gold Company Limited ("ZGC")
While the suspension of operations at Kasenseli Gold Limited, in
Mwinilunga, North-Western Province was lifted on 31st May 2022, the
resumption of the operations remains stalled due to on-going
resolution of shareholder related matters. These matters are
expected to be rectified, and the mining activity are expected to
resume in quarter four (4) of 2023.
Kasenseli Mine is operated by Zambia Gold Company Ltd, a
subsidiary of ZCCM-IH
Exploration is on-going in Rufunsa with initial reports slated
to conclude later in the year. So far, a total of 27 holes
representing 3,972 meters have been drilled. A further 5,000 metres
are planned to be drilled in 2023. Preliminary assay results show
minor mineralisation for gold and copper content.
In the short term, ZGC and ZCCM-IH plan to continue with the
drilling programme until a mineral resource is defined. Trace
alluvial gold occurrences in the area have also given impetus to
limited mining trials as part of an on-going viability
assessment.
(VII) Limestone ResOurces Limited ("LRL")
ZCCM-IH has continued to provide Limestone Resources Limited
with working capital and human capital support to ensure continuity
of its operations. Given the company's abundant limestone resource
and a readily available market for its products, ZCCM-IH and LRL
are jointly exploring recapitalisation options to re-equip LRL with
efficient and reliable production assets that will substantially
improve its long-term operational and financial performance. As a
result of this, the earlier search for an equity partner has been
discontinued .
(VIII) Konkola Copper Mines Plc
On 7 September 2022, ZCCM-IH, Vedanta Resources Limited, Vedanta
Resources Holdings Limited, and KCM's Provisional Liquidator
entered into a written agreement to suspend the hearing of the
disputes between them to pursue amicable settlement of the
disputes. The parties have since been engaged in ex-curia
discussions to resolve the disputes and thus the hearing of the
disputes before the arbitral tribunal remain suspended. Despite
this, the mine has remained operational.
(IX) Mushe Milling Plc ("Mushe")
ZCCM-IH acquired ownership of Mushe Milling Limited in 2019.
However, since ZCCM-IH's strategic plan review for the period 2020
- 2026, the asset has been deemed not to be a strategic fit. As
part of the ZCCM-IH group rationalisation following the revised
strategic plan, the Company has since divested from Mushe, which is
currently undergoing the liquidation process.
OUTLOOK
ZCCM-IH continues to position itself to pursue more
opportunities in the mining sector. As per ZCCM-IH strategy, which
is focused on mining, energy and mining related investments, the
Company will seek profitable and sustainable investments. ZCCM-IH
is pursuing specific projects in gold, manganese, copper, nickel,
lithium, and cobalt as a way of maximising value extraction and
improving shareholder value.
ZCCM-IH's focus going forward continues to be:
-- Raising both short and long-term capital to support mining
and mining related investments within the group. Critical to this
is the raising of adequate capital for Mopani to enable the growth
and sustainability of the mine;
-- Implementation of more predictable alternative income streams
such as the royalty model;
-- Continued research and development to support investments in
viable mining and mineral value addition projects;
-- Continued implementation of the turnaround plans for loss
making subsidiary companies; and
-- Portfolio optimisation and divestment from non-viable and
non-mining related investments.
By Order of the Board
Cha rles Mjumphi
Company Secretary
Issued in Lusaka, Zambia on 1 September 2023
APPICES
US DOLLAR ABRIDGED GROUP STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME
USD'000 30 June 30 June
202 3 202 2
Revenue 371,586 435,472
Gross profit (29,339) 639
( 87,033 ( 84,450
Operating loss ) )
( 91,372 ( 41,490
Net finance (cost)/income ) )
Share of profit of equity accounted
investees 64,171 78,384
(Loss)/ profit before tax (114,235) (47,556)
( 11,605
Income tax ) (1 40 )
(47 , 6 9
Loss for the period (125,840) 6)
Basic and diluted earnings per share
(USD) (0.78) ( 0.3 0)
US DOLLAR ABRIDGED SEPERATE STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME
USD'000 30 June 30 June
202 3 202 2
Revenue 56,644 72,915
Operating profit 46,476 68,507
Net finance income (6,040) 2,472
Profit before tax 40,436 70,979
( 11,634
Income tax ) ( 131 )
Profit for the year 28,802 70,848
Basic and diluted earnings per share
(USD) 0. 18 0. 44
US DOLLAR ABRIDGED GROUP STATEMENT OF FINANCIAL POSITION FOR THE
SIX MONTHS PERIOD ENDED 30TH JUNE 202 3
USD'000 30-June-2 30-June-2
3 2
Assets
Non-Current Asset 2,026,096 2, 825,410
Current Assets 733,92 1 627,431
Total Assets 2,760,017 3, 452,841
Equity and Liabilities
Shareholders' Funds 371,765 1,3 91,725
Non-Current Liabilities 1,733,395 1,6 15,346
Current Liabilities 654,857 445,770
Total Equity and Liabilities 2,760,017 3,218,802
US DOLLAR ABRIDGED SEPERATE STATEMENT OF FINANCIAL POSITION FOR
THE SIX MONTHS PERIOD ENDED 30TH J UNE 202 3
30 June 30 June
20 2 3 20 2 2
USD'000 USD'000
Assets
Non-Current Asset 1,240,109 1,346,586
Current Assets 256,421 163,279
Total Assets 1,496,530 1,509,865
Equity and Liabilities
Shareholders' Funds 1,470,233 1,118,276
Non-Current Liabilities 2,542 376,482
Current Liabilities 23,755 15,107
Total Equity and Liabilities 1,496,530 1,509,865
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IR EFLFBXKLZBBV
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