Fiscal Year -2022 Consolidated Financial Highlights

Fiscal Year -2022 Consolidated Financial Highlights

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

• Net Working Capital increased by 7% ($283M) VS ($263M) from the previous fiscal year 2021.
• Current Liabilities increased by $311M VS $263M 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 $421M to $382M from the previous fiscal year 2021, due to the provisions for expected claims in one of the subsidiaries.

P&L Highlights:

• Gross Revenue is $102M VS $115M for the previous fiscal year 2021. 
• Gross Operating profit of 30M VS $(15M) for the previous fiscal year 2021. (290% improvement), due to maximizing revenues, reducing operating costs, and optimal employment of all group resources.
• EBITDA is $38M VS $(3M) for the previous fiscal year 2021.
• EBITDA Margin is 37% compared to (3%) for the previous fiscal year 2021.
• Net Loss of $(106M) VS $(79M) for the previous fiscal year 2021 due to the provisions for expected claims in one of the subsidiaries.
• EPS is $(0.26) VS $(0.19) for the previous fiscal year 2021.