Details for (AFR) / Market data / Selftrade

AFREN

(AFR GB00B0672758 GBX)

Value 134.000

Change Today +1.60

Updated03/02 16:35

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PROFILE

Registered Number	05304498
Registered Address	Kinnaird House 1 Pall Mall East London SW1Y 5AU
Phone Number	+44 (0) 207 4519700
Fax Number
Website	http://www.afren.com
Activities	Provides oil and gas exploration development and production services
Country of Register	GB
Currency	GBX
Short Name	AFREN
First Day Traded	13/03/2007
Industrial Sector	Exploration & Production
Number of shares	971m

Key People

Egbert Imomoh	Chairman
Osman Shahenshah	Chief Executive Officer
Shahid Ullah	Director
John John	Non Executive Director
Constantine Ogunbiyi	Director

Major Shareholders

Standard Life Investments Ltd.	8.79%
AllianceBernstein LP	7.62%

Director Deals

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Income Statements £1K

	AR 2006	AR 2007	AR 2008	AR 2009	AR 2010
Fiscal Year End	31/12/2006	31/12/2007	31/12/2008	31/12/2009	31/12/2010
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Sales/Revenue	0	0	23.18	215.19	206.91
Cost of Goods Sold (COGS) incl. D&A	0.33	0.49	38.72	147.41	123.36
COGS excluding D&A	0	0	22.09	48.22	62.48
Depreciation & Amortization Expense	0.33	0.49	16.62	99.18	60.87
Depreciation	0.33	0.49	16.62	99.18	60.87
Amortization of Intangibles	0	0	0	0	0
Amortization of Deferred Charges	0	0	0	0	0
Gross Income	-0.33	-0.49	-15.53	67.78	83.55
Selling, General & Administrative Expense	12.23	8.56	17.72	17.44	16.57
Research & Development	0	0	0	0	0
Other Selling, General & Administrative	12.23	8.56	17.72	17.44	16.57
Other Operating Expense	0	6.01	0	0	0.00
Non Operating Income/Expense	1.84	-0.13	-12.16	-9.43	-9.98
Non-Operating Interest Income	0	1.26	2.88	0.40	0.19
Equity in Affiliates (Pretax)	0	0	0	-0.82	0
EBIT	0	0	0	0	0
Unusual Expense	0	2.99	-22.24	24.17	13.02
EBIT after Unusual Expense	0	0	22.24	-24.17	-13.02
Interest Expense	5.00	2.58	10.28	16.03	-1.28
Gross Interest Expense	5.00	8.12	19.52	17.15	7.55
Interest Capitalized	0	5.53	9.23	1.13	8.83
Pretax Income	-15.72	-19.51	-30.57	0.31	45.45
Income Tax	0	0	0.28	11.06	21.32
Income Tax - Current Domestic	0	0	0	0	0
Income Tax - Current Foreign	0	0	0.28	3.08	14.07
Income Tax - Deferred Domestic	0	0	0	0	7.25
Income Tax - Deferred Foreign	0	0	0	7.98	0
Income Tax Credits	0	0	0	0	0
Minority Interest Expense	0	0	0	0	0
Equity in Affiliates	0	0	0	0	5.59
Other After Tax Income (Expense)	0	0	0	0	0
Net Income	-15.72	-19.51	-30.85	-10.75	29.71
Extraordinaries & Discontinued Operations	0	0	0	0	-0.40
Extra Items & Gain/Loss Sale Of Assets	0	0	0	0	0
Cumulative Effect - Accounting Chg	0	0	0	0	0
Discontinued Operations	0	0	0	0	-0.40
Net Income After Extraordinaries	-15.72	-19.51	-30.85	-10.75	29.31
Preferred Dividends	0	0	0	0	0
Net Income available to Common	-15.72	-19.51	-30.85	-10.75	29.71
Operational EPS	-8.26	-7.35	-12.43	0.97	4.12
EPS (basic)	-8.17	-8.24	-8.24	-1.67	3.24
EPS (diluted)	-8.26	-8.24	-8.26	-1.69	3.15
EBITDA	-12.23	-14.57	-16.63	149.53	127.85
EBIT	0	0	0	0	0
+Depreciation & Amortization Expense	0.33	0.49	16.62	99.18	60.87

Balance Sheet £1K

	AR 2006	AR 2007	AR 2008	AR 2009	AR 2010
Fiscal Year End	31/12/2006	31/12/2007	31/12/2008	31/12/2009	31/12/2010
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Cash & Short Term Investments	35.63	46.11	102.16	201.77	89.56
Cash Only	35.63	46.11	81.88	198.97	20.37
Short-Term Investments	0	0	20.28	2.80	69.19
Total Accounts Receivable	4.32	3.15	15.36	9.58	19.88
Accounts Receivables, Net	0	0	14.42	8.95	18.97
Accounts Receivables, Gross	0	0	14.42	8.95	18.97
Bad Debt/Doubtful Accounts	0	0	0	0	0
Other Receivables	0	0	0.94	0.63	0.90
Inventories	3.09	1.55	9.23	21.40	24.94
Finished Goods	0	0	0	0	0
Work in Progress	0	0	0	0	0
Raw Materials	3.09	1.55	9.23	21.40	9.07
Progress Payments & Other	0	0	0	0	15.87
Other Current Assets	0.91	3.19	23.61	24.86	8.32
Prepaid Expenses	0	3.19	0	0	3.32
Miscellaneous Current Assets	0.91	0	23.61	24.86	5.00
Total Current Assets	43.95	54.00	150.36	257.62	142.71
Net Property, Plant & Equipment	1.31	71.57	372.90	305.71	489.31
Property, Plant & Equipment - Gross	1.73	72.29	399.29	424.76	671.61
Buildings	0	0	0	0	0
Land & Improvements	0	0	0	0	0
Machinery & Equipment	0	0	0	17.31	17.86
Construction in Progress	0	0	0	0	0
Leases	0	0	0	0	0
Computer Software and Equipment	0.39	0.66	2.77	3.81	5.70
Leased Property	0	0	0	0	0
Transportation Equipment	0	0	0	0	0
Other Property, Plant & Equipment	1.34	71.96	397.39	405.09	650.07
Accumulated Depreciation	0.42	0.72	26.39	119.06	182.30
Buildings	0	0	0	0	0
Land & Improvements	0	0	0	0	0
Machinery & Equipment	0	0	0	3.44	6.39
Construction in Progress	0	0	0	0	0
Leases	0	0	0	0	0
Computer Software and Equipment	0.08	0.13	0.53	1.11	2.03
Leased Property	0	0	0	0	0
Transportation Equipment	0	0	0	0	0
Other Property, Plant & Equipment	0.35	0.59	25.86	114.51	173.88
Total Investments and Advances	1.22	0.74	14.30	1.71	7.17
LT Investment - Affiliate Companies	0	0	0	0.37	7.17
Other Long-Term Investments	1.22	0.74	14.30	1.33	0
Long-Term Note Receivable	0	0	0	0	0
Intangible Assets	87.82	24.95	103.50	114.04	283.44
Net Goodwill	0	0	0	0	0
Net Other Intangibles	87.82	24.95	103.50	114.04	283.44
Other Assets	0	0	0	2.09	1.27
Deferred Charges	0	0	0	2.09	1.27
Tangible Other Assets	0	0	0	0	0
Total Assets	134.30	151.26	641.07	681.17	923.89
ST Debt & Curr. Portion LT Debt	0	0	77.36	72.85	57.01
Short Term Debt	0	0	0	0	0
Current Portion of Long Term Debt	0	0	77.36	72.85	57.01
Accounts Payable	5.12	5.52	49.11	11.70	15.19
Income Tax Payable	0.71	0.09	0.20	0.03	12.41
Other Current Liabilities	10.11	14.50	52.06	74.95	113.54
Dividends Payable	0	0	0	0	0
Accrued Payroll	0	0	0	0	0
Miscellaneous Current Liabilities	10.11	14.50	52.06	74.95	113.54
Total Current Liabilities	15.93	20.10	178.73	159.53	198.14
Long-Term Debt	64.47	73.69	209.30	95.44	115.39
Long-Term Debt excl. Capitalized Leases	64.47	73.69	209.30	95.44	115.39
Non-Convertible Debt	0	38.93	204.45	92.54	113.99
Convertible Debt	64.47	34.77	4.85	2.89	1.40
Capitalized Lease Obligations	0	0	0	0	0
Provision for Risks & Charges	0	0	14.10	13.52	22.43
Deferred Taxes	0	0	0	7.72	40.54
Deferred Taxes - Credit	0	0	0	7.72	40.54
Deferred Taxes - Debit	0	0	0	0	0
Accumulated Minority Interest	0	0	0	0	0
Other Liabilities	0.00	2.30	0	0.23	0.32
Deferred Tax Liability-Untaxed Reserves	0	0	0	0	0
Other Liabilities (excl. Deferred Income)	0.00	2.30	0	0.23	0.32
Deferred Income	0	0	0	0	0
Total Liabilities	80.40	96.09	402.14	276.44	376.82
Non-Equity Reserves	0	0	0	0	0
Preferred Stock (Carrying Value)	0	0	0	0	0
Redeemable Preferred Stock	0	0	0	0	0
Non-Redeemable Preferred Stock	0	0	0	0	0
Preferred Stock issues for ESOP	0	0	0	0	0
ESOP Guarantees - Preferred Stock	0	0	0	0	0
Common Equity (total)	53.90	55.17	238.93	404.73	547.07
Common Stock Par/Carry Value	3.75	2.70	6.12	9.72	10.86
Additional Paid-In Capital/Capital Surplus	58.20	73.47	310.87	467.64	572.80
Retained Earnings	-24.06	-29.47	-85.85	-80.44	-49.74
ESOP Debt Guarantee	0	0	0	0	0
Cumulative Translation Adjustment/Unrealized For. Exch. Gain	0	0	-0.58	-0.51	-0.53
Unrealized Gain/Loss Marketable Securities	0	0	0	0	0
Revaluation Reserves	0	0	0	0	0
Other Appropriated Reserves	16.01	8.48	8.36	8.32	13.67
Unappropriated Reserves	0	0	0	0	0
Treasury Stock	0	0	0	0	0
Total Shareholders' Equity	53.90	55.17	238.93	404.73	547.07
Liabilities & Shareholders' Equity	134.30	151.26	641.07	681.17	923.89

Cash Flow £1K

	AR 2006	AR 2007	AR 2008	AR 2009	AR 2010
Fiscal Year End	31/12/2006	31/12/2007	31/12/2008	31/12/2009	31/12/2010
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Net Income before Extraordinaries	-12.56	-18.05	-24.27	29.34	57.64
Depreciation, Depletion & Amortization	0.33	0.49	16.62	99.18	60.87
Depreciation and Depletion	0.33	0.49	16.62	99.18	60.87
Amortization of Intangible Assets	0	0	0	0	0
Deferred Taxes & Investment Tax Credit	0	0	0	0	0
Deferred Taxes	0	0	0	0	0
Investment Tax Credit	0	0	0	0	0
Other Funds	3.94	7.76	-8.39	19.62	1.45
Funds from Operations	-8.30	-9.80	-16.04	148.15	119.95
Extraordinaries	0	0	0	0	0
Changes in Working Capital	-0.34	2.86	-4.55	13.34	6.43
Receivables	-0.39	-2.14	-16.78	0.34	10.39
Inventories	0	0	0	-7.43	3.82
Accounts Payable	0.08	5.09	12.56	20.35	-7.64
Income Taxes Payable	0	0	0	0	0
Other Accruals	0	0	0	0	0
Other Assets/Liabilities	-0.03	-0.09	-0.33	0.07	-0.15
Net Operating Cash Flow	-8.63	-6.94	-20.59	161.49	126.38
Capital Expenditures	60.01	44.38	159.17	123.00	232.13
Capital Expenditures (Fixed Assets)	0.75	32.12	125.13	65.09	193.44
Capital Expenditures (Other Assets)	59.26	12.26	34.03	57.91	38.69
Net Assets from Acquisitions	0	0	-92.05	-3.97	1.48
Sale of Fixed Assets & Businesses	0	0	0	0	0
Purchase/Sale of Investments	-0.93	0	-0.82	-1.16	-1.29
Purchase of Investments	-0.93	0	-0.82	-1.16	-1.29
Sale/Maturity of Investments	0	0	0	0	0
Other Uses	-2.93	0	-1.48	-6.22	-6.73
Other Sources	0	0	0	0	0
Net Investing Cash Flow	-63.86	-44.38	-253.51	-134.35	-238.67
Cash Dividends Paid - Total	0	0	0	0	0
Common Dividends	0	0	0	0	0
Preferred Dividends	0	0	0	0	0
Change in Capital Stock	0.56	40.68	125.81	200.40	1.82
Repurchase of Common & Preferred Stk.	0	0	0	0	0
Sale of Common & Preferred Stock	0.56	40.68	125.81	200.40	1.82
Proceeds from Stock Options	0.56	40.68	125.81	200.40	1.82
Other Proceeds from Sale of Stock	0	0	0	0	0
Issuance/Reduction of Debt, Net	74.82	38.31	170.48	-95.12	-6.96
Change in Current Debt	0	0	0	0	0
Change in Long-Term Debt	74.82	38.31	170.48	-95.12	-6.96
Issuance of Long-Term Debt	76.64	41.97	197.73	0	64.91
Reduction in Long-Term Debt	-1.82	-3.67	-27.25	-95.12	-71.88
Other Funds	0	0	0	0	0
Other Uses	0	0	0	0	0
Other Sources	0	0	0	0	0
Net Financing Cash Flow	75.38	78.99	296.29	105.27	-5.14
Exchange Rate Effect	-0.95	0.38	-8.04	-1.96	0.14
Miscellaneous Funds	-0.00	0.00	0.00	-0.00	0.00
Net Change in Cash	1.93	28.04	14.15	130.46	-117.29
Free Cash Flow	-9.38	-39.06	-145.72	96.40	-67.06

Analysis Data

	2006	2007	2008	2009	2010
Fiscal Year End	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31
Valuation
Market Capitalisation	213.65	286.41	120.27	755.71	1,415.68
Price/Earnings	0.00	0.00	0.00	0.00	45.00
Price/Sales	0	0	4.33	2.52	6.40
Price/Book Value	3.96	5.19	0.50	1.87	2.59
Price/Cash Flow	0	0	0	3.35	10.88
Enterprise Value/EBIT	0	0	0	10.10	21.77
Enterprise Value/EBITDA	0	0	0	3.40	11.41
Enterprise Value/Sales	0	0	12.29	2.36	7.05
Total Debt/Enterprise Value	0.27	0.27	1.01	0.33	0.12
Total Debt/EBITDA	0	0	0	1.13	1.35
EPS (basic)	-8.17	-8.24	-8.24	-1.67	3.24
EPS (diluted) as stated	-8.26	-8.24	-8.26	-1.69	3.15
Profitability
Gross Margin (%)	0.00	0.00	-67.01	31.50	40.38
Operating Margin (%)	0.00	0.00	-143.46	23.40	32.37
Pretax Margin (%)	0.00	0.00	-131.87	0.14	21.97
Net Margin (%)	0.00	0.00	-133.09	-5.00	14.36
Return on Assets (%)	-17.00	-13.66	-7.79	-1.63	3.70
Return on Equity (%)	-30.72	-35.77	-20.98	-3.34	6.24
Return on Avg. Total Capital (%)	-18.85	-15.78	-9.43	-1.96	4.60
Return on Avg. Invested Capital (%)	-18.85	-15.78	-10.69	-2.27	5.11
Efficiency
Revenue/Employee	0	0	0.25	1.25	0.94
Receivables Turnover	0.00	0.00	2.50	17.26	14.05
Days of Sales Outstanding (DSO) (%)	0.00	0.00	145.71	21.15	25.98
Inventory Turnover	0.21	0.21	7.18	9.62	5.32
Days of Inventory on Hand (DIO)	1,712.65	1,741.07	50.84	37.93	68.57
Total Asset Turnover	0.00	0.00	0.06	0.33	0.26
Working Capital Turnover	0.00	0.00	0.00	2.19	0.00
Liquidity
Current Ratio	2.76	2.69	0.84	1.61	0.72
Quick Ratio	2.57	2.61	0.79	1.48	0.59
Capital Structure
Debt-to-Total Equity (%)	119.61	133.58	119.98	41.58	31.51
Debt-to-Total Capital (%)	54.46	57.19	54.54	29.37	23.96
Debt-to-Total Assets (%)	48.00	48.72	44.72	24.70	18.66
Interest Coverage	-2.51	-1.86	-1.70	2.94	8.87

Market data

Name	Latest	Var
FTSE 100	5,901.07(c)	+1.81%
FTSE 250	11,235.15(c)	+1.34%
DOW INDUSTRIALS	12,862.23(c)	+1.23%
HONG KONG HANG SENG INDIC	20,756.98	+0.08%
Nikkei 225	8,831.93(c)	-0.51%

Name	Latest	Var
ADMIRAL GRP	1,038.00(c)	+7.90%
MAN GROUP	136.70(c)	+7.81%
SMITHS GROUP	1,017.00(c)	+5.94%
LLOYDS GRP.	34.39(c)	+5.07%
ITV	79.35(c)	+4.75%

Name	Latest	Var
PETROFAC	1,474.00(c)	-1.40%
BG GROUP	1,425.00(c)	-0.49%
POLYMETAL INTL	1,165.00(c)	-0.43%
RANDGOLD RES.	7,400.00(c)	-0.27%
RDS 'A'	2,261.00(c)	-0.18%

Buys

Name	Latest	Var
TESCO	326.65(c)	+2.40%
GULF KEYSTONE	303.50(c)	+3.58%
GAME GROUP	6.64(c)	+24.58%
UNILEVER	2,029.00(c)	+1.76%
LLOYDS GRP.	34.39(c)	+5.07%

Sells

Name	Latest	Var
LLOYDS GRP.	34.39(c)	+5.07%
BARCLAYS	237.45(c)	+4.19%
AVIVA	377.00(c)	+3.69%
GAME GROUP	6.64(c)	+24.58%
BP	484.50(c)	+1.38%

Selftrade is a trading name and Selftrade® a registered trademark of Talos Securities Limited, which is authorised and regulated by the Financial Services Authority (FSA Register number 208271) and is a member of the London Stock Exchange and PLUS Markets. Talos Securities Ltd is incorporated in England and Wales (Registration No. 4196325, Registered Address: Boatman's House, 2 Selsdon Way, London E14 9LA). VAT No. 629 2807 22.

Data: include Bondscape, Dow Jones, Factset, FTSE, Morningstar. Conditions may apply.

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AFREN

PROFILE

Key People

Major Shareholders

Director Deals

Income Statements £1K

Balance Sheet £1K

Cash Flow £1K

Analysis Data

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