With a profit of QR1,354m, Nakilat has recorded its highest profit ever

February 7, 2022

2 minutes read

With a profit of QR1,354m, Nakilat has recorded its highest profit ever

Doha: Today, Qatar Gas Transport Company Ltd (NAKILAT) reported a consolidated net profit of QR1,354m in 2021, up 16.7% from the same figure in 2020.

This is because the group’s subsidiaries and associates also made money. The Board proposes a cash dividend of QR0.12 per share for this period.

The Board of Directors of Nakilat applauded the company for its continued strong financial performance and continuous operational excellence in 2021.

The achievements show that Nakilat is very serious about keeping its place at the top of the energy transportation industry. At the same time, they show that Qatar is one of the world’s top exporters of clean energy.

A cash dividend of QR0.12 per share is recommended by the Board of Directors. In 2021, the global pandemic of COVID-19 continued to provide significant challenges and volatility to the global transportation and maritime industries.

Nakilat remained consistent in driving forward its goal, delivering excellence on both the operational and financial fronts, with business continuity and long-term objectives in place. Nakilat’s long-term stockholders have benefited from the company’s resilient business model. In 2021, revenue increased by 3.1 per cent to QR4,142 million.

“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, upholding our employees’ wellbeing and reinforcing investors’ confidence in the company,” said Chairman of Nakilat’s Board of Directors, H E Dr Mohammed bin Saleh Al Sada.

Chief Executive Officer (CEO) of Nakilat, Eng. Abdullah Al Sulaiti 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.”

“We extend our appreciation to QatarEnergy for their support, as well as our strategic partner Qatargas for playing a significant role in ensuring 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,” Al Sulaiti added.

On February 7, at 13:30 p.m. (Doha time), Nakilat will host an investor relations conference as part of its strategy to engage shareholders and investors and apply best practices in investor relations. In advance of the conference call, the company will publish the conference presentation on its website.