Income Statement 2017 2018 2019 2020 2021

For the Year Ended 31st March Rs. 'mn Rs. 'mn Rs. 'mn Rs. 'mn Rs. 'mn
Net revenue 40,193 44,730 100,215 97,843 77,681
COGS (24,857) (30,345) (65,364) (64,629) (53,457)
Gross Profit 15,337 14,385 34,851 33,214 24,225
Other operating income 1,186 3,034 2,015 1,713 2,201
Selling and Distribution expenses (1,897) (1,916) (2,642) (2,706) (1,202)
Admin expenses (4,505) (4,804) (17,555) (17,401) (12,957)
Other operating expenses (368) (2,191) (30) (1,130) (663)
EBIT 9,752 8,508 16,640 13,689 11,604
Finance income 703 1,388 2,599 3,067 2,312
Finance costs (1,092) (2,020) (3,830) (5,878) (4,948)
Net finance income (389) (632) (1,230) (2,811) (2,636)
Equity accounted investees 1,327 2,267 395 476 422
PBT 10,690 10,142 15,805 11,354 9,390
Tax (3,891) (3,892) (6,931) (6,929) (6,896)
PAT 6,800 6,250 8,875 4,425 2,494
Non controling interest 536 327 (3,088) (673) 2,440
Net earnings to equity holders 7,336 6,577 5,786 3,752 4,933

(0.43850) (0.61029) (0.73444)

COGS margin -0.6522345018 -0.66053764 -0.68815371

selling and other -0.0263634889 -0.02765919 -0.01546758
admin -0.1751682823 -0.17784911 -0.16679429
other operating exp
EBIT 0.16604477847 0.13991262 0.14938096

Balance Sheet 2020 2021

As at 31st March Rs. 'mn Rs. 'mn

NON CURRENT ASSETS

PPE 110,892 111,919
Intangible + Biological 14,930 15,099
Investment properties 6,144 6,670
Right of use assets 14,810 15,463
Equity accounted investees 7,215 7,891
Deferred tax asset 2,451 3,400

# John Keells Group - Confidential

 Other non current financial investments 33,941 30,473
190,384 190,914
CURRENT ASSETS
Inventories 9,996 9,426
Trade and other receivables 27,281 26,394
Amounts from related companies 586 464
Other current financial investments 14,338 18,040
Other current assets (+ produce on bearer bio assets) 4 498
Cash and cash equivalents 9,429 12,686
61,633 67,507
Assets held for sale 1,190 1,243
TOTAL ASSETS 253,207 259,664

NON CURRENT LIABILITIES

Interest bearing loan borrowings 37,344 41,263
Lease liabilities 11,032 12,556
Retirement benefit obligations 3,076 3,588
Deferred tax liabilities 9,775 10,622
Other liabilities 674 663
61,900 68,692
CURRENT LIABILITIES
Trade and other payables 25,374 28,703
Other liabilities 39 5
Amount due to related companies 619 715
Income tax payable 1,235 3,196
Interest bearing loans and borrowings 4,551 5,249
Lease liabilities 1,574 1,965
Bank overdrafts and other short term borrowings 31,157 27,467
64,550 67,300
TOTAL LIABILITIES 126,450 135,992
EQUITY
Stated capital and reserves 105,889 105,113
Retained earnings / (Accumulated losses) (22,215) (21,461)
Equity attributable to owners of Company 83,674 83,652
Non controlling interest 43,082 40,021
126,757 123,673
check - -

Cash flow statement 2020 2021

As at 31st March Rs. 'mn Rs. 'mn
Profit Before Tax 11,354 9,390
Net Cash from Operating Activities 7,684 16,727
Cashflows from Investing Activities 10,339 (2,294)
Purchase of PPE (10,969) (3,126)
Net Cash From Investing Activities (630) (5,420)

# John Keells Group - Confidential

 Net Cash Used In Financing Activities (3,858) (4,360)
(Decrease) / Increase in cash and cash equivalents 3,196 6,947

Shares
Price 53
Valuation Metrics (MELS) FY19A FY20A FY21A
Net Revenue after excise (Rs. mn) 100,215 97,843 77,681
EBIT (Rs. Mn) 16,640 13,689 11,604
Net earnings (Rs. mn) 5,786 3,752 4,933
EPS (Rs.) 4.96 3.22 4.23
EPS growth (%) (12.03) (35.2) 31.5
PER (x) 10.67 16.46 12.52
P/BV 0.77 0.74 0.74
Dividend Yield % - 3.77 10.19
DPS Rs. - 2.00 5.40
NAV/Share 68.84 71.80 71.78
ROE % 7.21 4.48 5.90

ebit % 0.16604477847 0.13991262 0.14938096

net earn % 0.05773758371 0.03834606 0.06350545

no of shares 1165.397072 1165.39707 1165.39707

equity 80,226.87 83,674 83,652

1.1811
1.20

# John Keells Group - Confidential

 depreciation 7,178 7,510
1.046

Ratios and Valuations FY2020A FY2020 FY2021

Growth (%)
Sales #DIV/0! (2.4) (20.6)
EBIT #DIV/0! (17.7) (15.2)
Net Profit #DIV/0! (35.2) 31.5
EPS #DIV/0! (35.2) 31.5
Margins (%)
EBITDA #DIV/0! 21.3 24.6
EBIT #DIV/0! 14.0 14.9
Pre-Tax Margin #DIV/0! 11.6 12.1
Net Margin #DIV/0! 3.8 6.4
Valuation Metrics (x)
P/E #DIV/0! 16.5 12.5
P/B #DIV/0! 0.7 0.7
EV/EBITDA #DIV/0! 4.3 4.6
EV/EBIT #DIV/0! 6.6 7.6

# John Keells Group - Confidential

 2022 2023E 2024E 2025E
Rs. 'mn Rs. 'mn Rs. 'mn Rs. 'mn
106,071 169,344 189,456 213,138
(64,915) (92,115) (128,830) (144,934)
41,156 77,229 60,626 68,204
2,463 1,654 1,654 1,654
(2,731) (6,179) (4,926) (5,542)
(17,699) (27,081) (31,829) (35,807)
(537) (616) (660) (659)
22,651 45,007 24,865 27,850
10,099 12,090 4,378 4,378
(6,329) (15,520) (4,178) (4,178)
3,770 (3,430) 200 200
442 1,008 379 380
26,863 42,585 25,444 28,430
(9,229) (19,702) (11,450) (13,168)
17,635 22,883 13,994 15,263
(6,666) (5,198) (1,796) (1,795)
10,969 17,685 12,198 13,468

(0.34354) (0.46265) (0.45000) (0.46315)

-0.6119992151
-0.0257480033
-0.1668623222

0.21354888963

2022 2023E 2024E 2025E

Rs. 'mn Rs. 'mn Rs. 'mn Rs. 'mn

127,786 140,248 145,760 153,048 1.0334

15,211 15,364 15,211 15,211
7,473 7,623 8,004 8,404
20,523 23,432 24,326 24,934 103.8153%
9,233 10,323 11,562 12,949
3,572 2,335 3,572 3,572

# John Keells Group - Confidential

 30,107 27,490 30,107 30,107
213,906 226,814 238,543 248,227 1.06034638202026

9,708 17,320 9,708 9,708 1.78409412105964

32,872 40,250 31,872 32,872
218 455 218 218 1.78409412105964
28,001 33,907 32,907 33,907
589 606 589 589
24,903 25,646 27,303 31,175
96,290 118,184 102,597 108,469
1,751 164 1,753 1,754
311,947 345,162 342,893 358,449

51,767 55,790 51,767 51,767 -5613.57179400002

17,031 19,050 17,031 17,031
3,913 3,980 3,913 3,913
11,577 10,995 11,577 11,577
740 847 740 740
85,029 90,662 85,029 85,029

50,324 44,532 50,324 50,324

5 6 5 5
1,967 3,055 1,967 1,967
3,425 7,564 3,425 3,425
9,200 10,390 9,200 9,200
2,241 2,601 2,241 2,241
23,423 34,156 35,272 42,079
90,585 102,304 102,434 109,241
175,614 192,966 187,463 194,270

108,785 108,785 108,785 108,785

(21,473) (9,856) (2,377) 6,371
87,313 98,929 106,408 115,156
49,020 53,267 49,022 49,023
136,333 152,196 155,430 164,179
- (0) 0 (0)

2022 2023E 2024E 2025E

Rs. 'mn Rs. 'mn Rs. 'mn Rs. 'mn
26,863 42,585 25,444 28,430
39,735 29,809 17,811 19,901
(10,248) 1,743 (2,785) (2,896)
(1,873) (3,587) (3,766) (3,917)
(12,122) (6,314) (10,433) (10,850)

# John Keells Group - Confidential

 (12,870) (17,479) (4,980) (5,179)
14,743 6,016 2,398 3,872

4482.625

FY22A FY23E FY24E FY25E

106,071 169,344 189,456 213,138
22,651 45,007 24,865 27,850
10,969 17,685 12,198 13,468
9.41 15.18 10.47 11.56 11.20
122.4 61.2 (31.0) 10.4
5.63 3.49 5.06 4.59
0.71 0.63 0.61 0.59
9.91 11.79 13.68 15.57
5.25 6.25 7.25 8.25
74.92 83.85 87.06 90.37
12.56 18.10 12.02 12.79

0.48

0.21354888963 0.2657726285 0.1312466008 0.1306683369

0.10341316593 0.10443239796 0.064386722 0.063188554

1165.397072 1165.397072 1165.397072 1165.397072

87,313 97,714 101,463 105,317

# John Keells Group - Confidential

 7,586 7,889 8,205 8,533
1.010

FY2022 FY2023E FY2024E FY2025E

36.5 59.7 11.9 12.5

95.2 98.7 (44.8) 12.0
122.4 61.2 (31.0) 10.4
122.4 61.2 (31.0) 10.4

28.5 31.2 17.5 17.1

21.4 26.6 13.1 13.1
25.3 25.1 13.4 13.3
10.3 10.4 6.4 6.3

5.6 3.5 5.1 4.6

0.7 0.6 0.6 0.6
3.0 1.6 2.5 1.5
4.1 1.9 3.3 2.0

# John Keells Group - Confidential

 #REF!

# John Keells Group - Confidential

 1.5821515587
8.40224183583407 1.1652417259

(1,388.92)

44.81
0.640142857142857

# John Keells Group - Confidential

 1.7
2.35
4.05

# John Keells Group - Confidential

# John Keells Group - Confidential
# John Keells Group - Confidential
# John Keells Group - Confidential
# John Keells Group - Confidential
# John Keells Group - Confidential
 2020 2021
Cash Flow from Operating Activities
Profit before tax 11,354,415 9,389,964
Adjustments for - -
Gain/Loss on disposal of property, plant and equipment (7,673) 10,417
Loss on revaluation of property, plant and equipment 12,084 -
Loss on disposal of investment properties 11,643 -
Depreciation of Property, Plant and Equipment 5,347,594 5,720,316
Depreciation of Right of Use Assets 1,210,044 1,270,489
Provision for Retirement benefit obligation 557,386 611,901
Provision /(reversal) of inventories (11,081) (3,976)
Provision of bad & doubtful debts and impairment of financial 397,062 151,336
Provision/(reversal) of impairment of equity accounted investees
Impairment of goodwill on acquisition of subsidiaries
Bad debts written-off 55,244 373,352
Share of profit of equity-accounted investees, net of tax (476,354) (421,888)
Amortization and provision for impairment of Biological Asset 704,548 169,301
Amortization and impairment of Intangible Asset..... 344,369 349,931
(Gain)/loss on change in fair value of financial assets at fair va (178,894) (26,491)
(Gain)/loss on disposal of financial investmentS (21,882) (38,583)
Deferred income recognized (19,503) (23,185)
Dividend Income (801,075) (614,543)
(Gain)/loss on change in fair value of Biological Assets (282,349) (369,372)
Impairment of Property: Plant and Equipment 21,953 -
Fair value gain. on investment .property. (83,992) (525,640)
Gain on Disposal of investment in subsidiaries (54) -
Gain on bargain purchase - -
Impaiment of balance recievable from subsidiaries - -
Interest income (2,026,583) (1,392,155)
Interest expense 5,488,557 4,506,180.00
Operating profit/(loss) before working capital changes 21,595,459 19,137,354

41.6666666666667
 2022

26,863,302

(28,897)

5,740,064
1,470,749
683,990
41,646
85,901
30,570
352,640

(441,977)
166,959
351,866
(262,450)
(176,329)
(28,183)
(598,046)
(412,477)

(449,267)

(145,613)

(2,002,323)
5,042,590
36,284,715
 MELS
Reuters Code MELS.CM
Bloomberg Code MELS SL
Share Price 53.00
Issued Share Capital (Shares)
Voting 1,165,397,072
12 mth High / Low (Rs.) 62.50 / 29.50
Average Daily Volume (Shares) 70,601
Market Capitalisation - Rs. Mn 61,766,044,816
Price Performance (%)
1 mth 6 mths 12 mths
ASPI 10.0% -5.0% -6.0%
MELS -3.8% 6.9% 22.0%

1.0239234

# John Keells Group - Confidential

 0.962116 1.0694234 1.2203463

0.037884

1.0490196 1.1567568

# John Keells Group - Confidential

 Sampath Bank PLC 2014 (IFRS) 2015 (IFRS)
Q1 Q2 Q3 Q4 Q1
NIM 2.98 2.77 4.04 3.95 3.77
Industry : LCB's - NIM (%) 3.3 3.3 3.4 3.6 3.8
1 Yr Treasury bill 7.1 7.0 5.9 6.0 6.8
Av.Weighted Lending Rate (AWLR) 14.4 13.8 13.0 11.9 11.5
Av. Weighted Prime Lending Rate (AWPLR ) 8.8 8.0 6.9 6.5 6.5
Sampath Bank PLC 2014 (IFRS) 2015 (IFRS)
Q1 Q2 Q3 Q4 Q1

Net Interest Income Rs. 'mn 4,213 4,037 4,215 4,315 4,335
Net Interest Income 3 mths QoQ growth -1.7% -4% 4% 2% 0.5%
Net Income 6 mths yoy growth 27.71% 15.05% -2.40% -4.09% 1.77%
ROA before tax 1.78 1.78 1.71 1.69 2.00
ROA before tax (%) (Industry : LCB's) 1.9 1.9 2.0 2.0 2.0
ROE 16.78 18.77 16.68 16.35 18.73
ROE (%) (Industry : LCB's) 16.1 15.3 16.5 16.6 16.0
Non Interest Income Rs. 'mn 1,552 1,642 2,502 1,890 1,973
Total Operating Income Rs. 'mn 5,764 5,679 6,717 6,205 6,308
30.46%
Sampath Bank PLC 2014 (IFRS) 2015 (IFRS)
Q1 Q2 Q3 Q4 Q1
Fee Income / Operating Income 27% 29% 37% 30% 31%
Sampath Bank PLC 2014 (IFRS) 2015 (IFRS)
Q1 Q2 Q3 Q4 Q1
Operating Expenses (Excl VAT) Rs. 'mn 2887 3012 3347 3608 3337
Cost / Income (Excl VAT) 50.1% 53% 50% 58% 52.9%
Industry : LCB's : Cost / Income (%) 54.1 55.3 52.6 51.6 52.5
Branches 213 215 216 220 222
Employees 3764 3884 3955 4000 4004
Employees per branch 18 18 18 18 18
Sampath Bank PLC 2014 (IFRS) 2015 (IFRS)
Q1 Q2 Q3 Q4 Q1
Net Loans and Advances Market Share 8.6% 8.7% 8.7% 9.2% 9.0%
Net Loans and Advances Rs. 'mn 256,664 259,594 274,551 309,569 317,457
Net Loans and Advances Growth YoY 13.31% 9.09% 9.36% 16.42% 23.69%
QoQ Loan Growth -3.48% 1.14% 5.76% 12.75% 2.55%
Industry : LCB's Net Loans and Advances Rs. 'mn 2,974,913 2,976,462 3,138,292 3,377,939 3,545,859
Industry : LCB's (YoY) Loan Growth 4.17% 3.36% 7.70% 12.27% 19.19%
Industry : LCB's (QoQ) Loan Growth -1.13% 0.05% 5.44% 7.64% 4.97%
Total Assets Rs. 'mn 387,583 394,281 405,843 442,790 450,157
Loan/Assets 66% 66% 68% 70% 71%
Loan/Deposit 82% 81% 84% 91% 91%
Industry LCB : Loan / Deposit (%) 83.2 82.0 83.9 86.9 89.4
Total Provision Expense Rs. 'mn 735 (920) 1,270 243 134
QoQ Provision Expense Growth -56% -225% 238% -81% -45%
Gross NPL % 2.38 2.60 2.39 1.93 1.84
Industry : LCB's : Gross NPL (%) 5.7 5.5 4.5 3.6 3.7
Net NPL % 0.93 0.84 0.73 0.53 0.55

# John Keells Group - Confidential

 Industry : LCB's : Net NPL (%) 3.8 3.7 2.8 1.9 2.1
Sampath Bank PLC 2014 (IFRS) 2015 (IFRS)
Q1 Q2 Q3 Q4 Q1
CASA Rs. 'mn 109,097 123,839 133,798 156,920 166,796
Deposit Market Share (LCB's) 8.5% 8.6% 8.5% 8.5% 8.6%
Total Deposits Rs. 'mn 311,833 319,189 326,871 339,679 348,195
CASA 35.0% 39% 41% 46% 47.9%
QoQ CASA Growth 8% 14% 8% 17% 6%
QoQ Deposit Growth 3.8% 2% 2% 4% 2.5%
Industry : Total Deposits Rs. 'mn 3,662,854 3,717,581 3,828,749 3,976,635 4,051,706
Industry : LCB's CASA (%) 37.0 38.6 39.0 42.1 42.1
Deposits/Liabilities 88% 88% 88% 83% 84%
Tier 1 CAR % 9.8 10.0 9.4 9.0 8.3
Industry : LCB's : Tier 1 CAR% 13.8 13.8 13.8 12.6 13.2
Total CAR % 13.6 13.4 12.6 13.7 12.9
Industry : LCB's : Total CAR% 17.0 16.8 16.9 15.6 16.1
SLR Domestic Banking Unit 29% 28% 26% 24% 23%
Industry : LCB's SLR (DBU) % 33.4 34.5 34.3 33.2 30.7
SLR Off Shore Banking Unit 33% 31% 31% 24% 27%
Industry : LCB's SLR (OBU) % 37.1 37.4 34.4 33.6 37.0

Bills of exchange 3,581 2,906 2,974 3,090 3,804

Leasing 9,511 10,137 11,254 11,786 14,835
Housing 12,451 13,005 13,847 14,554 15,194
Export loans 13,218 12,586 11,591 14,078 14,700
Import loans 32,264 22,163 29,123 37,390 37,715
Refinance 7,561 7,703 7,625 7,536 7,634
Term loans 84,140 86,876 93,124 90,804 115,669
Hire purchases 3,916 4,408 5,053 5,139 4,633
Loans against Investment Fund Account (IFA) 2,397 2,283 2,129 2,020 1,777
Overdrafts 42,866 45,493 45,065 53,377 54,067
Staff loans 4,956 5,235 5,538 5,760 5,935
Pawning 44,800 34,400 29,693 25,062 21,508
Credit cards 5,642 5,894 6,154 6,678 6,514
Money Market Loans and othersOthers 155 16,158 18,985 23,755 19,839
267,456 269,247 282,154 301,026 323,821
% QoQ
Bills of exchange 27.3% -18.8% 2.3% 3.9% 23.1%
Leasing 11.3% 6.6% 11.0% 4.7% 25.9%
Housing 2.4% 4.5% 6.5% 5.1% 4.4%
Export loans 9.1% -4.8% -7.9% 21.5% 4.4%
Import loans 53.9% -31.3% 31.4% 28.4% 0.9%
Refinance 12.5% 1.9% -1.0% -1.2% 1.3%
Term loans 6.3% 3.3% 7.2% -2.5% 27.4%
Hire purchases 11.6% 12.6% 14.6% 1.7% -9.9%
Loans against Investment Fund Account (IFA) 0.4% -4.8% -6.8% -5.1% -12.1%
Overdrafts -3.2% 6.1% -0.9% 18.4% 1.3%
Staff loans 1.4% 5.6% 5.8% 4.0% 3.0%
Pawning -16.9% -23.2% -13.7% -15.6% -14.2%

# John Keells Group - Confidential

 Credit cards 2.2% 4.5% 4.4% 8.5% -2.5%
Others -99.2% 10309.1% 17.5% 25.1% -16.5%

# John Keells Group - Confidential

 2015 (IFRS) 2016 (IFRS) 2017 (IFR
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
3.8 3.75 3.64 3.47 3.69 3.77 3.87 3.81
3.7 3.6 3.5 3.5 3.5 3.5 3.6 3.6
6.3 7.2 7.1 9.9 10.6 10.1 10.2 11.0
11.3 11.0 11.0 11.5 12.1 12.9 13.2 13.4
7.1 7.1 7.5 9.1 10.2 12.1 11.5 11.8
2015 (IFRS) 2016 (IFRS) 2017 (IFR
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

4,712 4,808 4,695 4,952 5,837 6,213 6,953 6,708

9% 2% -2% 5% 18% 6% 12% -4%
9.67% 15.36% 11.40% 11.52% 19.25% 26.58% 38.55% 41.61%
1.97 2.02 1.9 1.9 2.07 2.10 2.14 2.10
1.9 1.9 1.9 1.7 1.9 2.0 2.0 1.9
19.00 19.41 18.42 19.78 23.4 23.89 23.47 20.72
15.9 16.2 15.7 13.6 16.2 17.5 17.2 17.1
2,104 2,610 2,241 2,156 2,368 2,580 2,898 2,803
6,816 7,418 6,936 7,107 8,205 8,793 9,851 9,512
32.31%
2015 (IFRS) 2016 (IFRS) 2017 (IFR
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
31% 35% 32% 30% 29% 29% 29% 29%
2015 (IFRS) 2016 (IFRS) 2017 (IFR
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
3567 3625 4064 3622 3984 4291 4369 4238
52% 49% 59% 51% 49% 49% 44% 45%
52.3 52.0 51.1 57.1 51.1 49.5 49.0 47.3
223 224 225 225 226 226 229 229
3992 3980 3993 3999 4017 3998 3960 3929
18 18 18 18 18 18 17 17
2015 (IFRS) 2016 (IFRS) 2017 (IFR
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
9.3% 9.1% 9.3% 9.3% 9.5% 9.7% 9.6% 9.7%
338,646 353,990 386,278 407,038 426,237 446,057 472,755 504,750
30.45% 28.93% 24.78% 28.22% 25.87% 26.01% 22.39% 24.01%
6.67% 4.53% 9.12% 5.37% 4.72% 4.65% 5.99% 6.77%
3,647,516 3,898,042 4,168,805 4,370,850 4,465,898 4,602,766 4,912,486 5,186,780
22.55% 24.21% 23.41% 23.27% 22.44% 18.08% 17.84% 18.67%
2.87% 6.87% 6.95% 4.85% 2.17% 3.06% 6.73% 5.58%
472,949 502,531 538,647 571,065 599,106 635,792 680,099 716,581
72% 70% 72% 71% 71% 70% 70% 70%
94% 93% 95% 93% 103% 91% 92% 93%
88.7 91.4 91.8 93.1 92.9 91.1 91.9 92.2
343 445 177 234 793 359 577 722
157% 30% -60% 33% 238% -55% 61% 25%
1.71 1.70 1.64 1.67 1.80 1.67 1.61 1.73
3.7 3.5 2.9 2.8 2.7 2.7 2.4 2.5
0.47 0.50 0.46 0.51 0.69 0.62 0.62 0.73

# John Keells Group - Confidential

 2.1 1.9 1.3 1.4 1.3 1.3 1.1 1.2
2015 (IFRS) 2016 (IFRS) 2017 (IFR
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
180,257 183,679 193,378 196,634 196,640 195,747 198,079 205,818
8.6% 8.8% 8.8% 9.1% 8.4% 9.5% 9.4% 9.4%
362,162 382,519 407,164 435,618 412,684 491,118 513,434 540,878
50% 48% 47% 45% 48% 40% 39% 38%
8% 2% 5% 2% 0% 0% 1% 4%
4% 6% 6% 7% -5% 19% 5% 5%
4,202,518 4,356,408 4,638,976 4,788,267 4,900,400 5,152,735 5,449,413 5,730,812
42.2 42.9 42.6 41.7 40.7 39.2 38.9 37.2
83% 82% 82% 82% 74% 83% 81% 81%
8.5 8.0 7.9 7.4 8.0 7.7 8.3 7.7
13.0 12.3 12.7 12.2 12 11.5 11.3 11.98
12.7 12.1 12.3 11.5 12.4 11.9 12.9 11.9
15.8 15.0 15.3 14.9 14.6 14.1 14.2 15.0
21% 21% 22% 21% 21% 22% 21% 21%
31.6 28.8 28.7 26.2 25 26.3 25.5 26.17
26% 26% 27% 28% 23% 29% 33% 28%
35.5 36.4 40.0 38.7 39.8 38.0 35.3 36.6

2,795
20,256
16,410
14,691
43,843
7,419
132,854
4,114
1,634
56,987
6,097
17,765
6,782
13,326
344,972

-26.5% -100.0% #DIV/0!

36.5% -100.0% #DIV/0!
8.0% -100.0% #DIV/0!
-0.1% -100.0% #DIV/0!
16.2% -100.0% #DIV/0!
-2.8% -100.0% #DIV/0!
14.9% -100.0% #DIV/0!
-11.2% -100.0% #DIV/0!
-8.0% -100.0% #DIV/0!
5.4% -100.0% #DIV/0!
2.7% -100.0% #DIV/0!
-17.4% -100.0% #DIV/0!

# John Keells Group - Confidential

 4.1% -100.0% #DIV/0!
-32.8% -100.0% #DIV/0!

# John Keells Group - Confidential

 2017 (IFRS)
Q2 Q3 Q4
3.83 3.87 3.91
3.5 3.5 3.5
10.5 9.1 8.9
13.7 13.8 13.9
11.7 11.6 11.6
2017 (IFRS)
Q2 Q3 Q4

7,219 7,789 8,581

8% 8% 10%
29.09% 24.54% 24.33%
2.27 2.24 2.29
2.0 2.0 2.0
24.29 23.14 23.35
18.0 17.3 17.5
3,204 3,063 3,105
10,423 10,852 11,687

2017 (IFRS)
Q2 Q3 Q4
31% 28% 27%
2017 (IFRS)
Q2 Q3 Q4
4182 4660 4940
40% 43% 42%
45.1 45.6 45.2
229 229 229
3928 3966 4011
17 17 18
2017 (IFRS)
Q2 Q3 Q4
9.9% 10.2%
533,380 559,373 586,371
25.14% 25.40% 24.03%
5.67% 4.87% 4.83%
5,374,625 5,480,832 5,687,493
20.35% 19.08% 15.78%
3.62% 1.98% 3.77%
751,864 781,726 826,717
71% 72% 71%
93% 91% 92%
91.8 90.0 90.0
696 696 400
-4% 0% -43%
1.77 1.74 1.64
2.5 2.5 2.3
0.88 0.84 0.75

# John Keells Group - Confidential

 1.2 1.2 1.0
2017 (IFRS)
Q2 Q3 Q4
224,162 206,765 218,960
9.6% 9.9% 9.9%
575,446 612,025 634,641
39% 34% 35%
9% -8% 6%
6% 6% 4%
5,965,350 6,208,791 6,424,432
35.8 34.8 35.7
83% 85% 84%
8.2 8.5 10.3
12.12 12.26 12.32
12.2 11.9 14.4
15.0 15.2 15.2
21% 21% 22%
26.32 26.88 27.16
40% 25% 25%
33.6 34.8 34.6

# John Keells Group - Confidential