Galfar Engineering & Contracting SAOG (MSM: GECS)

MSM: GECS Balance Sheet

Financials in millions OMR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash & Equivalents	11.01	6.34	11.14	17.48	6.79	4.25
Short-Term Investments	0.68	0.64	0.67	0.24	0.25	2.67
Cash & Short-Term Investments	11.69	6.97	11.81	17.72	7.04	6.92
Cash Growth	60.76%	-40.93%	-33.39%	151.59%	1.81%	2.55%
Accounts Receivable	183.86	171.36	134.29	142.62	167.31	198.57
Other Receivables	1.03	-0.03	0.07	0.05	-	17.44
Receivables	184.89	171.33	134.35	142.67	167.31	216.01
Inventory	29.91	27.19	19.31	13.38	14.59	13.49
Prepaid Expenses	2.82	2.97	3.95	3.21	3.18	5.37
Other Current Assets	0.16	0.26	0.21	0.09	0.17	0.33
Total Current Assets	229.47	208.72	169.63	177.07	192.29	242.11
Property, Plant & Equipment	61.65	46.09	31.13	29.83	37.03	48.89
Long-Term Investments	3.86	4.2	4.64	5.11	5.24	5.09
Other Intangible Assets	0.16	0.13	0.22	0.32	0.37	0.29
Long-Term Accounts Receivable	8.26	13.37	11.55	12.42	11.06	8.04
Total Assets	303.39	272.51	217.17	224.75	245.99	304.43
Accounts Payable	72.28	55.79	43.58	77.47	50.67	60.71
Accrued Expenses	21.33	16.14	16.16	12.95	17.85	16.48
Short-Term Debt	48.4	43.58	16.95	23.28	37.97	61.31
Current Portion of Long-Term Debt	10.18	7.13	8.16	12.39	9.05	14.42
Current Portion of Leases	2.09	1.75	1.15	0.82	0.89	0.64
Current Income Taxes Payable	0.13	0.13	0.13	1.41	1.43	1.51
Current Unearned Revenue	23.6	26.3	34.03	25.79	33.12	33.46
Other Current Liabilities	63.19	60.58	45.09	16.11	43.32	30.97
Total Current Liabilities	241.18	211.39	165.23	170.21	194.29	219.5
Long-Term Debt	19.72	13.55	5.97	11.56	10.82	11.71
Long-Term Leases	3.62	4.75	2.45	1.34	0.95	1.29
Long-Term Unearned Revenue	4.1	3.96	7.54	6.74	5.53	7.41
Long-Term Deferred Tax Liabilities	0.19	0.17	0.35	0.36	0.36	0.32
Total Liabilities	281.86	249.06	193.84	202.57	225.1	255.26
Common Stock	29.07	29.07	29.07	29.07	41.52	41.52
Additional Paid-In Capital	-	-	-	-	18.34	18.34
Retained Earnings	-7.86	-5.99	-6.16	-7.47	-39.54	-11.27
Comprehensive Income & Other	-0.5	-0.45	-0.44	-0.31	-0.34	-0.32
Total Common Equity	20.71	22.62	22.46	21.29	19.98	48.27
Minority Interest	0.82	0.82	0.86	0.88	0.91	0.91
Shareholders' Equity	21.53	23.45	23.33	22.18	20.89	49.18
Total Liabilities & Equity	303.39	272.51	217.17	224.75	245.99	304.43
Total Debt	84	70.77	34.68	49.38	59.67	89.37
Net Cash (Debt)	-72.32	-63.8	-22.87	-31.66	-52.62	-82.46
Net Cash Per Share	-0.25	-0.22	-0.08	-0.11	-0.18	-0.28
Filing Date Shares Outstanding	290.65	290.65	290.65	290.65	328.22	328.22
Total Common Shares Outstanding	290.65	290.65	290.65	290.65	328.22	328.22
Working Capital	-11.71	-2.67	4.4	6.87	-2	22.61
Book Value Per Share	0.07	0.08	0.08	0.07	0.06	0.15
Tangible Book Value	20.55	22.49	22.25	20.98	19.61	47.98
Tangible Book Value Per Share	0.07	0.08	0.08	0.07	0.06	0.15
Land	1.56	1.28	1.28	1.28	1.28	1.28
Buildings	42.09	36.04	36.25	36.35	36.78	36.35
Machinery	189.11	185.76	181.88	184.47	63.82	192.8
Construction In Progress	3.83	3.78	1.85	0.12	0.11	0.08
Order Backlog	-	579	517	-	-	-

Source: S&P Capital IQ. Standard template. Financial Sources.