QATAR NAVIGATION Q.P.S.C. Qatar Navigation Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS
31 MARCH 2023
Qatar Navigation Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
As at and for the three months ended 31 March 2023
CONTENTS | PAGE (S) |
Interim condensed consolidated financial statements | |
Interim condensed consolidated income statement | 1 |
Interim condensed consolidated statement of other comprehensive income | 2 |
Interim condensed consolidated statement of financial position | 3-4 |
Interim condensed consolidated statement of cash flows | 5-6 |
Interim condensed consolidated statement of changes in equity | 7 |
Notes to the interim condensed consolidated financial statements | 8-20 |
Qatar Navigation Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED INCOME STATEMENT
For the three months ended 31 March 2023
For the three months ended 31 | ||||
March | ||||
2023 | 2022 | |||
(Unaudited) | (Unaudited) | |||
Notes | QR'000 | QR'000 | ||
Operating revenues | 3 | 766,246 | 912,744 | |
Salaries, wages and other benefits | (139,283) | (154,795) | ||
Operating supplies and expenses | (306,459) | (415,032) | ||
Rent expenses | (2,533) | (2,054) | ||
Depreciation and amortisation | (94,465) | (89,552) | ||
Reversal/(Provision) for impairment of trade receivables | 2,815 | (17,401) | ||
Other operating expenses | (16,252) | (39,549) | ||
OPERATING PROFIT | 210,069 | 194,361 | ||
Finance costs | (14,184) | (14,831) | ||
Finance income | 7,547 | 3,749 | ||
Gain on disposal of property, vessels and equipment | 1,413 | 88 | ||
Share of results of associates | 9 | 114,796 | 141,585 | |
Share of results of joint ventures | 8 | 44,033 | 34,581 | |
Net gain on foreign exchange | 237 | 1,816 | ||
PROFIT FOR THE PERIOD | 363,911 | 361,349 | ||
Attributable to: | ||||
Equity holders of the parent | 363,285 | 360,410 | ||
Non-controlling interest | 626 | 939 | ||
363,911 | 361,349 | |||
BASIC AND DILUTED EARNINGS PER SHARE | ||||
(attributable to equity holders of the parent ) | ||||
(expressed in QR per share) | 4 | 0.32 | 0.32 |
The attached notes 1 to 18 form part of these interim condensed consolidated financial statements.
1
Qatar Navigation Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME
For the three months ended 31 March 2023
For the three months ended 31
March
Profit for the period
Other comprehensive income (OCI):
Items that will not be reclassified subsequently to profit or loss
Net (loss) gain on financial assets at FVOCI
Equity-accounted investees - share of OCI
Items that may be reclassified subsequently to profit or loss Net gain resulting from cash flow hedges
Cash flow hedge movement for equity-accounted investees
Total other comprehensive (loss) income
Total comprehensive income
Attributable to:
Equity holders of the Parent
Non-controlling interest
2023 | 2022 | |
(Unaudited) | (Unaudited) | |
QR'000 | QR'000 | |
363,911 | 361,349 |
(124,711) | 370,659 | |
312 | 12,609 | |
(124,399) | 383,268 | |
6,841 | 31,972 | |
(38,741) | 308,680 | |
(31,900) | 340,652 | |
(156,299) | 723,920 | |
207,612 | 1,085,269 | |
207,038 | 1,084,014 | |
574 | 1,255 | |
207,612 | 1,085,269 |
The attached notes 1 to 18 form part of these interim condensed consolidated financial statements.
2
Qatar Navigation Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
At 31 March 2023
31 March | 31 December | |||
2023 | 2022 | |||
(Unaudited) | (Audited) | |||
Notes | QR'000 | QR'000 | ||
ASSETS | ||||
Non-current assets | ||||
Property, vessels and equipment | 5 | 2,832,597 | 2,841,223 | |
Investment property | 6 | 875,449 | 884,419 | |
Intangible assets | 14,908 | 15,625 | ||
Right-of-use assets | 7 | 224,092 | 209,590 | |
Investments in joint ventures | 8 | 1,068,859 | 1,024,826 | |
Investments in associates | 9 | 7,361,812 | 7,548,209 | |
Financial assets at FVOCI | 2,490,946 | 2,566,504 | ||
Loans granted to LNG companies | 106,651 | 102,297 | ||
Other assets | 138 | 138 | ||
14,975,452 | 15,192,831 | |||
Current assets | ||||
Inventories | 103,341 | 114,945 | ||
Trade and other receivables | 979,381 | 1,036,187 | ||
Equity instruments at FVTPL | 502,409 | 501,750 | ||
Investments in term deposits | 10 | 1,117,276 | 1,237,442 | |
Cash and cash equivalents | 11 | 298,335 | 230,052 | |
3,000,742 | 3,120,376 | |||
Total Assets | 17,976,194 | 18,313,207 | ||
EQUITY AND LIABILITIES | ||||
Attributable to equity holders of the Parent | ||||
Share capital | 12 | 1,136,165 | 1,136,165 | |
Legal reserve | 4,693,986 | 4,693,986 | ||
General reserve | 623,542 | 623,542 | ||
Fair value reserve | 2,347,727 | 2,472,074 | ||
Hedging reserve | 961,734 | 993,634 | ||
Retained earnings | 6,087,796 | 6,122,169 | ||
Equity attributable to equity holders of the Parent | 15,850,950 | 16,041,570 | ||
Non-controlling interest | 42,769 | 42,195 | ||
Total Equity | 15,893,719 | 16,083,765 |
The consolidated statement of financial position continues on the next page.
The attached notes 1 to 18 form part of these interim condensed consolidated financial statements.
3
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Qatar Navigation QSC published this content on 16 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2023 08:39:10 UTC.
