88 Energy Limited (ASX:88E) Annual Report 2020



The latest annual report of 88 Energy Limited (88E) was published on 31 Dec 2020. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - 88E Annual Results

Amounts in AUD

Total Revenue
241.53k
Gross Profit
241.53k
EBIT
-19.49M
Net Tangible Assets
58.91M
Net Income
-22.03M
Capital Expenditures
-41.52M

88E Income Statement 2020 Annual Report

As per the latest Income Statement of 88E, the Net revenue increased by $226149 (1470%) compared to the previous period. The operating income in 2020 increased by $14.15M (42%). The net income as per the annual report was -22.03M which increased by $14.75M (40%) compared to previous year.

Income Statement Report (2020/2019)

20202019
Total Revenue241.53k15.38k
Gross Profit241.53k15.38k
Operating Income-19.49M-33.65M
Income Before Tax-22.03M-36.78M
Net Income-22.03M-36.78M

Balance Sheet - 88E 2020 Annual Report

Read further: 88E Balance Sheet Detailed Analysis

The latest balance sheet from annual result of 88 Energy Limited showed the company reduced the cash on balance sheet by $-1.06M (-7%). The Net tangible assets of 88E on the balance sheet were at 58.91M which is $-5.69M (-9%) less than previous annual report. The total stockholder equity also decreased by $-5.69M (-9%) compared to previous reporting period.

Balance Sheet Statement Report (2020/2019)

20202019
Cash14.85M15.9M
Total Assets85.36M 93.58M
Long Term Debt20.78M22.67M
Total Liabilities26.45M 28.98M
Total Shareholder Equity58.91M64.6M
Net Tangible Assets58.91M64.6M

Cash Flow Statement - 88E 2020 Annual Report

The 2020 annual cash flow statement of 88 Energy Limited showed that the net income increased by $14.75M (40%) compared to previous reporting period. Also the capital expenditure of 88E decreased by $-11.80M (-40%).

As of 2020, the total cash from investing activities was -9.34M and total cash from financing activities was 13.63M.

Cash Flow Statement Report (2020/2019)

20202019
Net Income-22.03M-36.78M
Capital Expenditures-41.52M-29.73M
Dividends Paid--
Total Cash From From Investing Activities-9.34M-5.86M
Total Cash From From Financing Activities13.63M6.07M

88 Energy Limited Annual Report History

Income Statement

Income Statement history of 88 Energy Limited (ASX:88E)

31 Dec 202031 Dec 201931 Dec 201831 Dec 2017
Total Revenue241.53k15.38k--
Cost Of Revenue----
Gross Profit241.53k15.38k--
Research Development----
Selling General Administrative3.3M3.23M3.45M2.76M
Non Recurring----
Other Operating Expenses4.83M803.88k149.01k219.04k
Total Operating Expenses19.74M33.66M3.67M5.01M
Operating Income-19.49M-33.65M-3.67M-5.01M
Total Other Income Expense Net-2.54M-3.13M-2.32M-3.4M
Ebit-19.49M-33.65M-3.67M-5.01M
Interest Expense-2.6M-3.1M-4.22M-2.7M
Income Before Tax-22.03M-36.78M-5.99M-8.41M
Income Tax Expense----
Minority Interest----
Net Income From Continuing Ops-22.03M-36.78M-5.99M-8.41M
Discontinued Operations----
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income-22.03M-36.78M-5.99M-8.41M
Net Income Applicable To Common Shares-22.03M-36.78M-5.99M-8.41M

Balance Sheet Statement

Balance Sheet Statement history of 88 Energy Limited (ASX:88E)

31 Dec 202031 Dec 201931 Dec 201831 Dec 2017
Cash14.85M15.9M21.72M14.01M
Other Current Assets5.08M1.07M1.99M312.07k
Total Current Assets19.92M17.02M23.82M14.37M
Long Term Investments389.51k428.2k425.41k-
Property Plant Equipment48.39M53.02M77.05M46.94M
Other Assets16.66M23.11M22.5M20.25M
Total Assets85.36M93.58M123.8M81.56M
Accounts Payable590.4k1.03M403.94k123.32k
Other Current Liab4.74M5M5.6M4.54M
Long Term Debt20.78M22.67M23.42M-
Total Current Liabilities5.67M6.31M6.26M26.03M
Total Liab26.45M28.98M29.68M26.03M
Common Stock208.96M185.62M179.3M141.71M
Retained Earnings-166.63M-144.6M-107.82M-101.83M
Treasury Stock16.58M23.58M22.63M15.65M
Other Stockholder Equity16.58M23.58M22.63M15.65M
Total Stockholder Equity58.91M64.6M94.11M55.53M
Net Tangible Assets58.91M64.6M94.11M55.53M

Cash Flow Statement

Cash Flow Statement history of 88 Energy Limited (ASX:88E)

31 Dec 202031 Dec 201931 Dec 201831 Dec 2017
Net Income-22.03M-36.78M-5.99M-8.41M
Depreciation11.48M29.53M50.61k3.95k
Change To Netincome5.42M1.43M-427.67k4.53M
Change To Account Receivables659.68k-76.5k-1.74M-45.08k
Change To Liabilities-700.18k35.35k1.47M-613.57k
Change To Operating Activities57k26.85k59.49k105.78k
Total Cash From Operating Activities-5.12M-5.84M-6.58M-4.43M
Capital Expenditures-41.52M-29.73M-35.11M-34.08M
Other Cashflows From Investing Activities32.18M23.86M12.16M11.32M
Total Cashflows From Investing Activities-9.34M-5.86M-22.95M-22.76M
Other Cashflows From Financing Activities-1.24M-461.5k-3.25M-1.92M
Total Cash From Financing Activities13.63M6.07M36.43M15.73M
Effect Of Exchange Rate-234.87k-184.23k820k-1.83M
Change In Cash-1.06M-5.82M7.71M-13.29M
Issuance Of Stock14.87M6.53M39.68M17.64M
Dividends Paid----