GLOBELEQ AFRICA HOLDINGS LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors of the Company have satisfied themselves that it is in a sound financial position, taking into account the forecast cash flows of the Company and of its subsidiaries, and access to all means of liquidity. Shareholder loans are not repayable until 2030 and there are no guarantees to subsidiaries other than those disclosed in the notes to the accounts. The Company has access to cash within its subsidiaries should it be required to settle its liabilities.”

Group structure

1. GLOBELEQ AFRICA HOLDINGS LIMITED · parent
   1. Dibamba Power Development Company SA 56% · Cameroon · Oil fired generation
   2. Globeleq Cameroon Management Services SA 100% · Cameroon · Advisory services
   3. Kribi Power Development Company SA 56% · Cameroon · Gas fired generation
   4. Azito Energie SA 76.9% · Côte d'Ivoire · Gas fired generation
   5. ARC for Renewable Energy SAE 100% · Egypt · Solar generation
   6. Globeleq Menengai Geothermal Limited 100% · Kenya · Geothermal generation
   7. Malindi Solar Group 90% · Kenya · Solar generation
   8. Central Electrica de Terereane SA 87.04% · Mozambique · Solar generation
   9. Central Solar de Mocuba SA 75% · Mozambique · Solar generation
   10. Central Termica de Temane SA 85% · Mozambique · Gas fired generation
   11. Aries Solar Power (RF) (Pty) Ltd 51% · South Africa · Solar generation
   12. Boshof Solar Power (RF) Pty Ltd 51% · South Africa · Solar generation
   13. De Aar Solar Power (RF) (Pty) Limited 56.8% · South Africa · Solar generation
   14. Droogfontein Solar Power (RF) (Pty) Limited 56.8% · South Africa · Solar generation
   15. Globeleq South Africa Management Services (Pty) Limited 80% · South Africa · Advisory services
   16. Jeffreys Bay Wind Farm (RF) (Pty) Limited 59% · South Africa · Wind generation
   17. Klipheuwel Wind Farm (RF) Pty Ltd 65% · South Africa · Wind generation
   18. Konkoonsies Solar Power (RF) Pty Ltd 51% · South Africa · Solar generation
   19. Soutpan Solar Power (RF) Pty Ltd 51% · South Africa · Solar generation
   20. Songas Limited 54.1% · Tanzania · Gas fired generation
   21. Globeleq Africa Ltd 100% · UK · Advisory services

Significant events

• “Progress at the 450 MW gas to power plant at Temane in Mozambique has been significantly impacted by severe weather, political unrest after recent elections and EPC contractor disputes.”
• “In early 2024, Globeleq began construction work at the 35 MW Menengai geothermal plant in Kenya. Commercial operations are expected to commence by the end of 2025.”
• “Following political and cyclone Force Majeure events at Temane the Group plan to claim on Delay in start-up (DSU) insurance policies, which have been identified as a contingent asset.”
• “The Azito Phase 4 EPC contractor, Cobra, has started arbitration proceedings in the International Court of Arbitration, claiming Euro 87m from Azito, citing excusable delays, additional costs incurred on the construction project and other breach by Azito.”
• “Following the call on the Preferred Bidder Round 5 Bonds by the South African Department of Minerals and Energy (DMRE), Globeleq and Mainstream via their joint bidding vehicle, submitted an application for an urgent interdict (injunction) to the Pretoria High Court.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -49.7%

  £680,585,619 → £342,100,074

• Cash

  -4.2%

  £249,802,817 → £239,317,272

• Net assets

  -4.4%

  £573,054,855 → £547,708,673

• Employees

  —

  Not reported

• Operating profit

  -55.3%

  £145,678,280 → £65,143,069

• Profit before tax

  -102.2%

  £100,815,419 → -£2,173,462

• Wages

  -13%

  £17,877,687 → £15,558,191

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers