205
Financials
NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL
STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2016
The net debt to equity ratio as on 31st December, 2016 is 30% (2015: 32%).
29.1.1 Debt to equity ratio
The debt to equity ratio at end of the reporting period was as follows.
Group Company
Financial debt (Note 24)
Cash and bank balances (Note 31.1)
Net debt
Equity
Net debt/ Equity ratio
29.2 Categories of financial instruments
Financial assets- Loans and receivables
Cash and bank balances
Short term deposits
Trade and other receivables (29.2.1)
Due from related parties and receivables from subsidiaries
Total financial assets
Financial liabilities - at amortised cost
Trade and other payables (29.2.2)
Financial liabilities (29.2.3)
Due to related parties
Long term payables
Total financial liabilities
31-Dec-16 31-Dec-15
₦’million
356,465
115,693
240,772
797,345
0.30
₦’million
244,969
40,792
204,177
644,720
0.32
Group
31-Dec-16 31-Dec-15
₦’million
74,001
41,692
26,279
18,609
160,581
215,799
372,775
17,933
17,730
624,237
₦’million
24,907
15,885
11,544
8,643
60,979
109,785
255,604
24,122
24,442
413,953
31-Dec-16 31-Dec-15
₦’million
262,278
65,510
196,768
981,367
0.20
₦’million
207,918
17,962
189,956
748,479
0.25
Company
31-Dec-16 31-Dec-15
₦’million
33,173
32,337
11,857
651,860
729,227
140,034
278,452
14,737
-
433,223
₦’million
8,189
9,773
4,252
404,542
426,756
69,148
218,553
22,113
24,442
334,256
29.2.1 Defined as total trade and other receivables excluding prepayments, accrued income and amounts relating
to taxation.
29.2.2 Defined as total trade and other payables excluding taxation and advances from customers.
29.2.3 Defined as total borrowings, principal and accrued interest.
29.3 Financial risk management objectives
The Group’s Corporate Treasury function provides services to the business, co-ordinates access to domestic and
international financial markets, monitors and manages the financial risks relating to the operations of the Group
and analyses exposures by degree and magnitude of risks. These risks include market risk, credit risk, and liquidity
risk
Annual Report 2016
205
206
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