Nakilat holds Annual General Meeting for Shareholders

Doha, Qatar – February 26, 2024:

Nakilat convened its Annual General Meeting (AGM) today chaired by Eng. Abdulaziz Jassim Al-Muftah, Chairman of Nakilat’s Board of Directors. The AGM presented an opportunity for discussion of the financial results, in which Nakilat achieved consolidated earnings results with a net profit of QAR 1.56 billion in 2023, highest since inception, an increase of 8.3% over 2022. The meeting also provided a comprehensive overview of key activities conducted in 2023.

The General Assembly approved the Group’s financial statements for the fiscal year ended 31 December 2023 and a recommendation by the Board of Directors to distribute a cash dividend of 14% of the nominal share value, equivalent to QAR 0.14 per share. The dividends will be distributed in line with directives from Qatar Financial Market Authority through Edaa. All items on the agenda were also endorsed during the AGM.

Nakilat Chief Executive Officer Eng. Abdullah Fadhalah Al-Sulaiti said: “Despite facing great challenges and geopolitical uncertainties, Nakilat has been able to maintain its resilient and consistent financial performance and build a bright future that contributes to consolidating its presence on the global stage in the natural gas transportation sector. These results are attributed to our tireless efforts and dedication to continuously develop operations and invest in our human capital. 2023 exemplified Nakilat’s operational excellence in energy transportation and maritime services with a net profit of QAR 1.56 billion, an increase of 8.3%. This outcome reflects our unwavering commitment to delivering value to both customers and stakeholders”.

Nakilat affirms its commitment to environmental stewardship through proactive measures to reduce carbon emissions and embracing best practices for mitigating environmental and climate change related risks. The company has released its 2022 Environmental, Social, and Governance (ESG) Report, aligning with global international standards, which has received independent assurance for the third consecutive year, enhancing its credibility and underscoring Nakilat’s sustained efforts to advancing sustainability in the maritime industry.

Nakilat’s Board of Directors conveys its appreciation to H.E. Eng. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President, and CEO of QatarEnergy for ongoing support of Nakilat’s initiatives; as well as  all concerned QatarEnergy managing departments  for their  contribution and co-operation with the Erhama Bin Jaber Al Jalahma Shipyard operations team; The board gives its sincere thanks and appreciation to Nakilat’s  long-term charterer QatarEnergy LNG in supporting Nakilat’s operations. Furthermore, the Board extended their appreciation to all Nakilat’s partners, shareholders, management, employees, Qatar Stock Exchange (QSE), Qatar Financial Markets Authority (QFMA) and stakeholders for their efforts, dedication and constant support.