Qatar Gas Transport Company (Nakilat), its subsidiaries and associates (Group) on Sunday reported a consolidated net profit of QR1,354 million (QR1.35 billion) in 2021, an increase of 16.7 percent, as compared to QR1,161 million (QR1.16 billion) for the same period in 2020.
According to a statement, this is the highest registered annual net profit of Nakilat since its inception.
For this period, the board recommends a cash dividend of QR0.12 per share.
In 2021, the COVID-19 global pandemic continued to create very challenging and volatile conditions across the global shipping as well as the 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.
Nakilat’s board of directors has commended 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.
Nakilat Chairman Mohammed Bin Saleh Al Sada 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, upholding our employees’ wellbeing and reinforcing investors’ confidence in the company.”
Nakilat CEO 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.”
Sulaiti said, “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.”