AUDITED FINANCIALS

Financial statements AUDITED FINANCIALS

Selected Income Statement Data FY2013 % of Revenue FY2012 % of Revenue AED (million) Revenue 2,318 1,947 Direct cost (2,131) (92%) (1,789) (92%) Gross profit 187 8% 158 8% General and administration expenses (195) (8%) (191) (10%) Provision for doubtful debts (94) (4%) (126) (6%) Amortisation and impairment of intangible assets (35) (2%) (30) (2%) Impairment loss on investment in associate (14) (1%) (12) (1%) Impairment loss on land (14) (1%) 0 0% Impairment loss on available for sale investment (7) 0% 0 0% Other income/(expense) 32 1% 24 1% Gain on acquisition of assets 17 1% 0 0% Finance income/(cost) net (8) 0% (9) 0% Share of profit/(loss) from associates 2 0% 12 1% Gain on sale of investment in associate 7 0% 0 0% Net profit/(loss) for the period before tax (122) (5%) (174) (9%) Income tax (22) (1%) (10) (1%) Net profit/(loss) for the period after tax (144) (6%) (184) (9%) Attributable to: Equity holders of parent (131) (6%) (120) (6%) Minority Interest (13) (1%) (64) (3%)

Financial statements AUDITED FINANCIALS CONTINUED

EBIT/EBITDA FY2013 % of Revenue FY2012 % of Revenue Net profit/(loss) for the period after tax (144) (6%) (184) (9%) Income tax 22 1% 10 1% Finance cost 10 0% 11 1% Finance cost recognised in cost of sales 13 1% 11 1% Interest income (2) 0% (2) 0% EBIT (101) (4%) (154) (8%)

Depreciation 42 2% 42 2% Amortisation and impairment of intangible assets 35 2% 30 2% EBITDA (24) (1%) (82) (4%)

Adjusted for: Impairment loss on investment in associate 14 1% 12 1% Impairment loss on land 14 1% 0 0% Impairment loss on available for sale investment 7 0% 0 0% Other income/(expense) (32) (1%) (24) (1%) Gain on acquisition of assets (17) (1%) 0 0% Share of profit/(loss) from associates (2) 0% (12) (1%) Gain on sale of investment in associate (7) 0% 0 0% Adjusted EBIT (124) (5%) (178) (9%) Adjusted EBITDA (47) (2%) (106) (5%)