Financial Performance

Summary Balance Sheet*

(USD)
2018 (restated)* 2019 2020
Assets
Non-current assets
Property and equipment 727,339,267 987,216,314 1,011,900,526
Right of use assets - 23,422,290 19,558,620
Intangible assets 456,189 347,304 334,671
Investment in a joint venture 2,184,382 4,140,576 3,159,392
Available for sale financial asset - 38,947,290 57,404,688
Other non-current assets 1,202,586 2,858,310 1,515,406
Total non-current assets 731,182,424 1,056,932,084 1,093,873,303
Current assets
Inventories 32,672,320 44,820,164 47,609,141
Accounts receivable 100,757,512 91,780,792 69,903,029
Contract assets 36,369,649 41,541,310 32,992,130
Due from related parties 377,345 4,740,918 3,602,587
Prepayments and other receivables 52,383,093 72,150,555 73,415,085
Bank balance and cash 130,875,239 119,601,159 62,488,548
Total current assets 353,435,158 374,634,898 290,010,520
Total assets 1,084,617,582 1,431,566,982 1,383,883,823
Equity and Liabilities
Equity
Share capital 43,793,882 43,793,882 43,793,882
Share premium 178,746,337 178,746,337 178,746,337
Merger reserve -6,520,807 -6,520,807 -6,520,807
Legal reserve 6,400,000 6,400,000 6,400,000
Share-based payments reserve - 11,341,219 15,187,089
Treasury shares - -3,501,200 -24,989,266
Cash flow hedge reserve - -6,147,575 -6,986,010
Retained earnings 190,595,406 219,225,419 238,846,906
Equity attributable to equity holders of the Parent 413,014,818 443,337,275 444,478,131
Non-controlling interests 8,413,319 9,387,205 9,419,257
Total equity 421,428,137 452,724,480 453,897,388
Liabilities
Non-current liabilities
Interest-bearing loans and borrowings 510,010,564 322,354,493 305,304,696
Bonds payable - 313,158,968 315,479,756
Finance lease liability 5,391,573 13,316,152 13,960,306
Provisions 12,959,590 16,375,652 16,590,477
Derivative financial instrument 3,123,799 6,584,893 6,215,471
Deferred mobilization revenue - 11,751,262 17,411,177
Other non-current payables - 10,988,839 -
Total non-current liabilities 531,485,526 694,530,259 674,961,883
Current liabilities
Trade and other payables 83,298,424 196,329,456 163,164,786
Interest-bearing loans and borrowings 45,258,354 83,692,835 85,696,878
Provisions 1,874,654 1,100,000 588,059
Due to related parties 56,106 58,224 57,192
Derivative financial instrument 1,216,381 3,131,728 5,517,637
Total current liabilities 131,703,919 284,312,243 255,024,552
Total liabilities 663,189,445 978,842,502 929,986,435
Total equity and liabilities 1,084,617,582 1,431,566,982 1,383,883,823

*The Financial Information represented of the Group is a continuation of the existing business and reflects the carrying values of the Subsidiary as if the Subsidiary had always been consolidated from the earliest period presented even though the Company was not in existence before 22 May 2016. Any difference between the consideration paid and nominal value of the share capital of the Subsidiary is recorded as a merger reserve.

**Comparative information has been adjusted to reflect the IFRS 3 Business combination measurement period adjustments, refer to note 4 of the 2019 Annual Report.