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Achilles Nigeria Corporate Performance May, 2012

Outline
Overview Project Update Organizational Chart Key Performance metrics Challenges Next Steps

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Achilles Group Limited

Overview

The Nigeria Joint Qualification System(NJQS)commenced in May 2005.

The Nigeria Joint Qualification System (NJQS) database for the Oil & Gas industry is executed in conjunction with its client, Nigerian National Petroleum Corporation (NNPC) through its sub division Nigeria Petroleum Exchange (NipeX)

Overview contd
The NJQS consist of Six(6) Modules:

Supplier Registration.
Essential Service Suppliers. On site Verification & Categorization

Nigerian Content Monitoring.

Performance Feedback. Contract Opportunities.

Project Update

Registration commenced on June 18, 2007. 7,087 paid suppliers at various stages of the Prequalification process as at 7th May,2012.

Developed & deployed an Essential Services Suppliers module.

89 ES Suppliers are published on the database.

Project Update contd

On site verification commenced in January 2008. 2,453 Suppliers have being audited as at 7th May 2012. 1,771 Prequalified Suppliers as at 7th May 2012. Nigeria Content & Performance Feedback Modules has been developed.

Project Update contd

Developed a single sign on functionality with the NipeX team. Developed a number of documents for the Project implementation; Product/Service code Guide, Supplier Categorization book, Audit Guidelines, Core Audit Module, Statutory Requirements etc. Facilitated a series of Suppliers Workshops, Buyer engagement & Stakeholders meeting. Plans in top gear to launch HSEQ Audits.

Achilles Group Limited 2007

Organization Chart

Key Performance Metrics

Metrics / Year Suppliers published Registered Buyers Initial Audits conducted Outstanding debt(=N=M) 2008 478 24 63 48.1 192.3 84 2009 1,170 26 155 182.9 366.5 4 12 63 2010 1,779 29 309 140.4 374.1 4 7 59 2011 2,625 31 1,125 156.4 162.0 3 5 92 2012 3,371 37 2,111 106.9 103.9 3 5 70
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Outstanding debt excluding pre-imp expenses ($K )

Payment Lead time Naira (months) Payment Lead time $ (months) Budget Utilization(%)

Key Performance Metrics

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Financial Summary Statistics

YEAR 2011
490,539,000.0 0

2010

2009

2008

2007

TURNOVER (N) PROFIT BEFORE TAX (N) PROFIT AFTER TAX(N)

417,054,000.00 279,165,828.00 46,694,046.00 35,494,046.00

388,302,059.00 307,220,975.00 47,873,426.00 32,373,426.00 29,494,780.00 20,054,780.00

69,373,000.00 59,227,000.00 54,294,000.00 30,351,000.00 531,166,000.0 0 170,545,000.0 0 1.48 4.72 14.83 31 69 2.64 10.11 NIL 100

TOTAL ASSETS (N)

446,605,000.00 412,201,777.00

324,829,384.00 219,470,946.00

SHAREHOLDERS FUNDS (N) DIVIDEND PER SHARE(N) EPS(N) NAPS(N) PAYOUT (%) RETENTION (%)

116,251,000.00 85,900,052.00 3.09 7.47 NIL 100

63,928,206.00 2.82 5.56 NIL 100

31,554,780.00 1.74 2.75 NIL 100

ROE(%)
GROWTH(%)

472
169

264
50.90

309
76.50

282
61.20

175
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Financial Score Card

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Financial Score Card continued

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Challenges
Invoice queries, returns and payment delays;

Contract ceiling and budget threshold limits;

Reimbursement Process; Decline in rate of Suppliers being Published; Suppliers Categorization Criteria; Sustaining Audit Momentum; Poor responsiveness/assistance from Group functions

Achilles Group Limited 2007

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Next Steps

Review contract ceiling/budget threshold limit; Identify and recommend alternative contract funding model; Conclude Supplier Categorization; Proper deployment of all modules; Organize quarterly Suppliers training; Explore areas of alternative lines of business opportunities;

Achilles Group Limited

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Thank you
Email: nigeria@achilles.com +234 1 271 7592-4 Achilles Information Limited

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