Fairfax Africa Holdings Corporation (FAH) 2019年年度报告「TSX」.pdf

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1、2019 Annual ReportContentsFairfax Africa Corporate Performance.1Corporate Profile.2Letter to Shareholders.4Managements Responsibility for theConsolidated Financial Statements.20Independent Auditors Report.21Fairfax Africa Consolidated Financial Statements24Notes to Consolidated Financial Statements.

2、29Managements Discussion and Analysis ofFinancial Condition and Results of Operations65Corporate Information.1133MAR2018041505962019 Annual ReportFairfax Africa Corporate Performance(in US$thousands,except as otherwise indicated)(1)BookEarningsvalueClosingNetCommon(loss)pershareIncome earningsTotals

3、hareholdersSharespershare(2)price(1)(loss)(loss)assets Investmentsequity outstanding(1)shareAs at and for the years ended December 31Initial public offering10.0010.00(3)201710.2114.1631,85123,484 669,111339,052516,73650.60.5420189.608.11(42,108)(60,580)643,830409,475603,12762.8(1.06)20198.725.91(46,

4、242)(61,199)520,667458,565518,81559.5(1.01)Compound annual decline(4.7)%(4)(16.7)%(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)Calculated as common shareholders equity divided by common shares effective

5、ly outstanding.(3)On February 17,2017,upon completion of the companys initial public offering price of$10.00 per share,Fairfax Africa HoldingsCorporations subordinate voting shares began trading on the Toronto Stock Exchange under the symbol FAH.U.(4)The companys book value per share of$8.72 at Dece

6、mber 31,2019 represented a compound annual decline from the initial publicoffering price of$10.00 per share at February 17,2017 of 4.7%.1FAIRFAX AFRICA HOLDINGS CORPORATIONCorporate ProfileFairfax Africa Holdings Corporation(Fairfax Africa)is an investment holding company whose investmentobjective i