Luanda - The Institute for Management of Assets and State Holdings (IGAPE) has set the 15th of this month as the deadline for companies in the public business sector to submit the financial reporting documents for the 2021 financial year.
The charge is being made through Notice 001/PCA/IGAPE/2022, of 6 January, sent to the companies of the Public Business Sector (SEP), according to the note from the institution to which ANGOP had access.
The deadline for the delivery of the accounting documents for the 2021 financial year is special for companies that already present consolidated accounts.
According to the public document, the said deadline was based on the recognition of the greater complexity in the process of consolidating accounts, as well as the limitations that still persist in the mobility of independent auditors, stemming from the Covid-19 pandemic.
After the uniform treatment, the accounts will be published simultaneously on IGAPE's website after the 16th of June this year.
In this way, IGAPE wants to ensure a more complete analysis by readers of the accounts provided, free of loopholes susceptible to speculation.
2020 accounts were negative
According to the 2020 aggregate report, to which ANGOP had access, in 2020, there was a drop of about 174.8%,compared to 2019, with the Operating Result reaching negative 526.1 billion kwanzas.
This result was mainly influenced by the negative contributions of the operating calculations of Sonangol and TAAG, by about 83% and 18%, respectively.
Sonangol's result was affected by the significant reduction in revenues from the sale of crude oil, as a result of the price decrease, while TAAG's was influenced by the drop in air traffic, due to the restrictive measures to combat Covid-19.
Also in 2020, the non-financial companies of SEP recorded an expressive worsening in their net result, by encompassing an aggregate loss of Kz 2,633.3 billion, a value 18.5 times greater than the loss recorded in 2019, of Kz 142.1 billion.
The companies that contributed most to this result were Sonangol, TAAG and ENDE, whose negative net results were equivalent to 90.5%, 5.0% and 4.2%, respectively, of the total.
Among the reasons that contributed to the excessive negative results, alongside the operational performance, IGAPE pointed to Sonangol's impairments and financial results.
The SEP universe in 2020 was made up of 85 companies, 69 of which were public, 12 with public domain and four minority public shareholdings.
Of the universe of 89 companies existing in 2019, there was the exit of four, with three breweries (Cuca, EKA and N'Gola) privatised and one extinct (Ferrangol, E.P.).
The document reports that the portfolio of the Public Business Sector (SEP) of companies that reported accounts for the 2020 financial year is made up of 71 companies, 60 of which are public companies and 11 with public domain.
