to download the latest Annual Report in PDF (2.2 MB) - Batelco Group

Notes To The Consolidated Financial Statements
Notes To The Consolidated Financial Statements
for the year ended 31 December 2012
BD’000
for the year ended 31 December 2012
BD’000
25 EMPLOYEE BENEFITS
The Group’s contributions in respect of local employees against their pension rights and other social benefits amounted to BD
3.8 (2011: BD 3.5) million. The provision for leaving indemnity in respect of expatriate employees amounted to BD 2.8 (2011:
BD 2.5) million and is included under provisions and accrued expenses.
26 TRANSACTIONS WITH RELATED PARTIES
(i) The Company qualifies as a government related entity under the definitions provided in the Revised IAS 24. The Company
provides telecommunication services to various Government and semi government organisation and companies in the Kingdom
of Bahrain. The Company also avails various services from Government and semi government organisation and companies in the
Kingdom of Bahrain. Such transactions are in the normal course of business and are not considered to be material.
(ii) Transactions with key management personnel: Key management personnel of the Group comprise of the Board of Directors
and key members of management having authority and responsibility for planning, directing and controlling the activities of
the Group.
The key management personnel compensation is as follows
2012 2011
Short-term employee benefits 2,658 2,540
Post-employment benefits 64 64
Total key management personnel compensation 2,722 2,604
2012 2011
27 SEGMENT INFORMATION
Operating segments
The Group’s operations are segregated between Bahrain, Jordan and Other countries. Other countries include Kuwait, Yemen,
Egypt and India. Segment information disclosed for the year ended 31 December 2012 is as follows:
Segment
revenue
& profit Bahrain Jordan
Year ended 31 December 2012 Year ended 31 December 2011
Other
countries
Inter -
segment
elimination Total Bahrain Jordan
Other
countries
Inter
segment
elimination
Revenue
(external 178,846 92,706 33,158 - 304,710
customers)
202,877 88,866 35,229 - 326,972
Inter segment
6,671 21,263 1,271 (29,205) -
revenues
9,510 18,319 1,259 (29,088) -
Finance and
5,086 113 195 (2,831) 2,563
other income
5,810 146 13 (2,712) 3,257
Depreciation and
20,102 14,318 1,953 - 36,373
amortisation
23,546 12,466 1,973 - 37,985
Interest expense 370 277 - - 647 - 262 - - 262
Share of profit/
(loss) of
associates (net)
- - 1,599 - 1,599
- - (3,124) - (3,124)
Profit/(loss) 45,764 9,816 9,763 - 65,343 67,833 13,587 2,435 - 83,855
Total
Post employment benefits due 187 182
Directors remuneration (including sitting fees) 510 601
(iii) Transactions with associates are disclosed under note 8.
Segment
assets &
liabilities Bahrain Jordan
As at 31 December 2012 As at 31 December 2011
Other
countries
Inter -
segment
elimination Total Bahrain Jordan
Other
countries
Inter
-segment
elimination
Total
(iv) Directors’ interests in the shares of the Company at the end of the year were as follows:
2012 2011
Total number of shares held by Directors 4,005,308 3,878,361
As a percentage of the total number of shares issued 0.28 % 0.27 %
Non-current
-
assets 150,929 232,152 89,396
472,477 138,672 199,231 93,407 - 431,310
Current assets 149,907 16,535 71,243 (20,794) 216,891 154,517 12,405 73,003 (11,928) 227,997
Total assets 300,836 248,687 160,639 (20,794) 689,368 293,189 211,636 166,410 (11,928) 659,307
Current liabilities 96,142 40,272 31,164 (18,442) 149,136 82,695 35,736 24,177 (8,740) 133,868
Non-current
-
liabilities 17,901 5,663
(3,513) 20,051 3,513 6,748 - (3,513) 6,748
Total liabilities 114,043 45,935 31,164 (21,955) 169,187 86,208 42,484 24,177 (12,253) 140,616
70
Batelco
ANNUAL REPORT 2012
Batelco
ANNUAL REPORT 2012
71