Global Telecom E : GTH Q1 2023 English financials

Condensed interim separate financial statements

Global Telecom Holding S.A.E.

As of and for the three-month period ended March 31, 2023

Together with the Review Report

Translation of separate financial statements

Originally issued in Arabic

Global Telecom Holding S.A.E.

Condensed interim separate statement of financial position

As of

		March 31,	December 31,
	Note	2023	2022
(In millions of USD)
Assets
Non-current assets
Investments in subsidiaries	8	0.1	0.1
Due from related parties	9-A	907.5	900.3
Total non-current assets		907.6	900.4
Current assets
Due from related parties	9- B	64.8	64.8
Other financial assets	10	0.8	0.8
Cash and cash equivalents	11	1.3	1.5
Total current assets		66.9	67.1
Total assets		974.5	967.5
Equity and liabilities
Equity		962.8	957.8
Total equity		962.8	957.8
Liabilities
Current liabilities
Other financial liabilities	12	11.7	9.7
Total current liabilities		11.7	9.7
Total liabilities		11.7	9.7
Total equity and liabilities		974.5	967.5

On behalf of the Board of Directors

Gerbrand Nijman

Managing Director and Vice-Chairman

Review report "attached"

The accompanying notes from (1) to (15) are an integral part of these condensed interim separate financial statements.

1

Translation of separate financial statements

Originally issued in Arabic

Global Telecom Holding S.A.E.

Condensed interim separate statement of income

For the three-month period ended March 31

	Note	2023	2022
(In millions of USD, except per share amounts)
Other operating expenses	4	(2.3)	(1.2)
Total operating (loss)		(2.3)	(1.2)
Impairment loss on loans receivables from related	5	-	(148.0)
Finance income	6	7.0	6.4
Net foreign exchange gain / (loss)		0.3	(2.0)
Profit / (Loss) from period before tax		5.0	(144.8)
Income tax expenses		-	-
Profit / (Loss) for the period		5.0	(144.8)
Earnings / (Losses) per share (expressed in USD per share)
Basic and diluted earnings per share for the period	7	0.001	(0.031)

The accompanying notes from (1) to (15) are an integral part of these condensed interim separate financial statements.

2

Translation of separate financial statements

Originally issued in Arabic

Global Telecom Holding S.A.E.

Condensed interim separate statement of comprehensive income

For the three-month period ended March 31

	2023	2022
(In millions of US dollars)
Profit / (Loss) for the period	5.0	(144.8)
Other comprehensive income items	-	-
Total comprehensive income / (loss) for the period	5.0	(144.8)

The accompanying notes from (1) to (15) are an integral part of these condensed interim separate financial statements.

3