Consolidated statement of financial position as at December 31, 2023

Notes 2023 AED’000 2022 AED’000 (RestatedRefer to Note 31 for details regarding prior year restatement.)
ASSETS
Non‑current assets
Vessels, property and equipment 6 516,211 587,121
Goodwill 7 143,463 143,463
Total non‑current assets 659,674 730,584
Current assets
Inventories 8 9,084 7,966
Trade and other receivables 10 23,144 17,796
Financial assets at fair value through profit or loss 11 100,379
Cash and bank balances 12 210,059 28,271
Total current assets 342,666 54,033
Total assets 1,002,340 784,617
EQUITY AND LIABILITIES
Equity
Share capital 13 837,696 1,275,391
Share premium 13, 15 35,734 8,452
Treasury shares 15 (96,281) (24,045)
Statutory reserve 14 2,128 19,747
Accumulated losses (2,570) (679,159)
Other reserves 16 (181,071) (181,071)
Total equity 595,636 419,315
Non‑current liabilities
Interest‑bearing borrowings 17 94,163 157,889
Provision for employees’ end‑of‑service benefits 19 1,255 1,211
Total non‑current liabilities 95,418 159,100
Current liabilities
Interest‑bearing borrowings 17 25,684 75,434
Islamic non‑convertible sukuk 18 34,983
Bank overdraft 12 180,187
Trade and other payables 20 105,415 95,785
Total current liabilities 311,286 206,202
Total liabilities 406,704 365,302
Total equity and liabilities 1,002,340 784,617

These consolidated financial statements were approved and authorised for issue by the Board of Directors on March 29, 2024 and were signed on its behalf by:

Dr. Abdul Rahman Al Afeefi Board Member Mr. Ahmad “M.F.” A. Al Kilani Chief Executive Officer Mr. Ali Abouda Chief Financial Officer

The accompanying notes 1 to 34 form an integral part of these consolidated financial statements.