Statement of Financial Position

As at 31 December 2025

	Notes	2025 X	2024 X
Assets
Non-current assets
Capital work in progress	12	1,005,412	940,337
Concession receivables	13	1,002,537,386	909,265,346
Contract assets	13	122,767,676	117,045,327
Right of use assets	14	8,401,726	9,372,503
Investment property	15	3,525,345	3,670,288
Deferred tax asset	11	9,135,585	7,195,979
		1,147,373,130	1,047,489,780
Current assets
Concession receivables	13	32,311,836	30,869,283
Inventories	16	3,178,763	2,968,613
Trade and other receivables	17	18,227,378	13,684,135
Short term deposits	18	1,700,000	–
Cash and cash equivalents	19	21,780,811	15,816,311
		77,198,788	63,338,342
Total assets		1,224,571,918	1,110,828,122
Equity and liabilities
Equity
Share capital	20	433,062,392	433,062,392
Treasury shares	20	(274,490)	–
Reserve on trading of treasury shares	20	(4,419)	–
Legal reserve	20	46,035,127	40,910,742
Actuarial reserve		17,857	75,721
Retained earnings		152,342,311	151,781,006
Total equity		631,178,778	625,829,861
Liabilities
Non-current liabilities
Term loan	21	371,946,662	345,669,934
Employees’ end of service benefits	22	340,000	578,153
Lease liabilities	23	9,655,917	10,448,558
Deferred income	24	14,161,783	5,262,377
Deferred tax liabilities	11	71,839,431	60,443,332
		468,943,793	422,402,354
Current liabilities
Term loan	21	9,267,800	9,267,800
Lease liabilities	23	489,879	198,210
Trade and other payables	25	115,691,668	53,129,897
		125,449,347	62,595,907
Total liabilities		593,393,140	484,998,261
Total equity and liabilities		1,224,571,918	1,110,828,122

These financial statements were approved by the Company’s Board of Directors on 2026 and were signed on their behalf by:

The attached notes 1 to 37 form part of these financial statements.