Doha, Qatar: Qatar Gas Transport Company (Nakilat) and its joint ventures (the group) announced its financial results for the year ended 31 December, 2023. As the group continues its strong financial performance with a consolidated net profit of QR1,559m, an increase of 8.3% compared to QR1,439m for the same period in 2022. The Board of Directors is pleased to recommend the distribution of cash dividends, amounting to QR0.14 per share and invites all shareholders to attend the Annual General Assembly Meeting to be held on Monday, 26 February 2024.
This stable increase in profits reflects the company’s efficiency in managing its operations and its ability to capitalize on opportunities that have arisen despite challenges faced in the energy transportation market.
The Group achieved in the fiscal year 2023 revenues of QR4,653m, reflecting an increase of 5.7%.
Commenting on the company’s financial performance, Abdulaziz Jassim Al Muftah, Chairman of the Board of Directors, said: “This year has brought about significant changes and challenges to the global shipping market, shaped by global events and geopolitical shifts. Despite these challenges, Nakilat has not only navigated through these complexities but has also emerged stronger, showcasing resilience, innovation, and a commitment to excellence. As geopolitical dynamics continue to impact global energy markets, Nakilat remains steadfast in adapting to these changes. We recognize the importance of staying agile in the face of uncertainties and are committed to overcoming challenges by leveraging our expertise and strategic partnerships with a forward-looking approach.”
The Board of Directors expressed their appreciation to H E Eng. Saad Sherida Al Kaabi, Minister of State for Energy Affairs, President and CEO of QatarEnergy, for ongoing support. The Board also extended appreciation to the Industrial Cities Directorate for cooperation with the Erhama Bin Jaber Al Jalahma Shipyard, as well as the strategic partner and long-term charterer QatarEnergy LNG for the continued support. Finally, our heartfelt thanks go to Nakilat’s international customers, partners, shareholders, management, employees, Qatar Stock Exchange (QSE), Qatar Financial Markets Authority (QFMA) and all stakeholders for their unwavering dedication and support.
Eng. Abdullah Fadhalah Al Sulaiti, Chief Executive Officer of Nakilat, said “This remarkable financial performance is due to the unwavering commitment of our dedicated seafarers and shore-based staff who work tirelessly to deliver clean energy to the world, safely and in a reliable manner. Their hard work and dedication have been instrumental in achieving these results. We remain committed to upholding the highest standards ensuring the safety of our global operations, while reinforcing our position as a provider of choice for energy transportation and maritime services, as well as an employer of choice.”
As Nakilat looks ahead to the future, the CEO expressed confidence in the continued success of the company, underpinned by personnel who are not only skilled and dedicated but also aligned with Nakilat’s core values of safety, respect, integrity, passion and encouragement.
In-line with Nakilat’s commitment to provide 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 December 31, 2023: on Monday, 29 January 2024 at 1:30 pm (Doha Time). The conference presentation will be published on the company’s website prior to the conference call. For further information on Nakilat’s conference call dial-in details, you can visit the company’s website: www.nakilat.com.
