Fairfax Africa Holdings Corporation (FAH) 2018年年度报告「TSX」.pdf

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1、2018 Annual ReportContentsFairfax Africa Corporate Performance.1Corporate Profile.2Letter to Shareholders.4Managements Responsibility for theConsolidated Financial Statements.16Independent Auditors Report.17Fairfax Africa Consolidated Financial Statements20Notes to Consolidated Financial Statements.

2、25Managements Discussion and Analysis ofFinancial Condition and Results of Operations62Corporate Information.1123MAR2018041505962018 Annual ReportFairfax Africa Corporate Performance(in US$thousands,except as otherwise indicated)(1)BookvalueClosingCommonEarningspershareNetTotalshareholdersSharespers

3、harepriceIncome earningsassets Investmentsequity outstanding(1)shareAs at and for the years ended December 31Initial public offering10.0010.00(2)201710.2114.1631,85123,484 669,111339,052516,73650.60.5420189.608.11(42,108)(60,580)643,830409,475603,12762.8(1.06)Compound annual growth(decline)(2.2)%(3)

4、(10.6)%(1)All share references are to common shares;Closing share price and per share amounts are in U.S.dollars;Shares outstanding arein millions.(2)On February 17,2017,upon completion of the companys initial public offering price of$10.00 per share,Fairfax Africa HoldingsCorporations subordinate v

5、oting shares began trading on the Toronto Stock Exchange under the symbol FAH.U.(3)The companys book value per share of$9.60 at December 31,2018 represented a compound annual decline from the initial publicoffering price of$10.00 per share at February 17,2017 of 2.2%.1FAIRFAX AFRICA HOLDINGS CORPORA

6、TIONCorporate ProfileFairfax Africa Holdings Corporation(Fairfax Africa)is an investment holding company whose investmentobjective is to achieve long term capital appreciation,while preserving capital,by investing in public and privateequity securities and debt instruments in Africa and African busi