Nakilat records highest profit of QAR 1,354 million since inception, increase by 16.7% for FY2021

Doha, Qatar, 6 February 2022

Qatar Gas Transport Company Ltd (NAKILAT) Q.P.S.C., its subsidiaries and associates (“Group”) today announced its financial results for the year ended 31 December 2021. The Group reported a consolidated net profit of QR 1,354 million in 2021, an increase of 16.7%, as compared to QAR 1,161 million for the same period in 2020. For this period, the Board recommends a cash dividend at QAR 0.12 per share.

During 2021, the COVID-19 global pandemic continued to create very challenging and volatile conditions across the global shipping as well as maritime industry. With solid business continuity and long-term strategies in place, Nakilat remained steadfast in steering forward its vision and delivered excellence on both operational and financial fronts. Nakilat’s resilient business model has allowed the company to generate sustainable returns for its long-term shareholders. Below are the 2021 key financial highlights for the Group:

  • Net profit of QAR 1,354 million, increase by 16.7%
  • Revenue of QAR 4,142 million, increase by 3.1%

Nakilat’s Board of Directors commends the company for continuing to deliver robust financial performance and sustained operational excellence in 2021. The accomplishments bear strong testament to Nakilat’s commitment towards maintaining leadership in the energy transportation sector, while simultaneously supporting Qatar’s position as a leading exporter of clean energy worldwide. The Board is pleased to recommend a cash dividend at QAR 0.12 per share. All shareholders are invited to attend the annual general assembly taking place on Monday, 28th February 2022.

H.E. Dr. Mohammed Bin Saleh Al Sada, Chairman of Nakilat’s Board of Directors said: “Despite the unique challenges faced by the company, we continued to build on our operational response to the pandemic, enabling us to adapt swiftly and ensure business continuity to create value for our shareholders and customers. Looking ahead, Nakilat’s Board of Directors remains committed to upholding and implementing the highest standards of corporate governance as well as robust risk management, business continuity preparedness, and various internal measures throughout the organization towards supporting sustainable business growth, uphold our employees’ wellbeing and reinforcing investors’ confidence in the company.”

Eng. Abdullah Al Sulaiti, Chief Executive Officer (CEO) of Nakilat said: “Our excellent financial performance in 2021 is the direct result of our commitment to deliver value to our stakeholders and customers. The company persevered and has managed to sustain its growth momentum while continuing to create value for our shareholders, thanks to the valuable efforts and contributions of our employees and seafarers. In line with our drive towards sustainable growth, the publishing of our 2020 ESG report was a culmination of a concerted effort by the company over the past two years to establish a world-class reporting system that accurately reflects environmental, social and corporate governance in the company, as well as our commitment to full transparency towards all stakeholders and shareholders.”

Al Sulaiti added: “We extend our appreciation to QatarEnergy for their support, as well as our strategic partner Qatargas in playing a significant role to ensure our robust financial performance. Such synergies help drive the company’s vision to be a global leader and provider of choice for energy transportation and maritime services”.

In-line with Nakilat’s commitment on providing the best practices in investor relations and its strategy to engage shareholders and investors, the company will hold an investor relations conference to discuss the financial results for the period ending on 31/12/2021 on Monday, 7 February 2022 at 13:30 PM (Doha Time). The conference presentation will be published on the company’s website prior to the conference call.

Click here to view the Financial Statements

Click here to view the Investor Relations Presentation

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