Maridive Standalone Fiscal Year -2022 Financial Highlights

Fiscal Year -2022 Financial Highlights

The following are the highlights driven from the audited Financial Statements of Maridive Oil & Services:
Balance Sheet Highlights:

• Net Working Capital improved by 49% ($80M) VS ($155M) from the previous fiscal year 2021.
• Current Liabilities are $140M VS $209M from the previous fiscal year 2021. (Effect of re-classifying debts from short-term to long-term based on Restructuring, reduction in Accrued Expenses and reduction in Payroll Tax Payable).
• Long term liabilities have increased from $219M to $141M from the previous fiscal year 2021. due to the re-classification of debts as a result of restructuring.

P&L Highlights:

• Gross Revenue is $47M VS $41M for the previous fiscal year 2021. (15% improvement).
• Gross Operating profit of 2.4 VS $(9.5M) for the previous fiscal year 2021. (125% improvement, due to optimization of operating cost).
• EBITDA is $14.2M VS $(4.6M) for the previous fiscal year 2021.
• EBITDA Margin is 30% compared to (11%) for the previous fiscal year 2021.
• Net Loss of $(13M) VS $(43M) for the previous fiscal year 2021 (69% improvement, resulting from improved operating results, reduction in both G&A and finance expenses).
• EPS is $(0.03) VS $(0.09) for the previous fiscal year 2021.