(The Group’s Comments) Nakilat's Net Profit Rises 10% to QAR 728 Million in Q3 2019

 

Ø  Profits: amounted to QAR 727.6 million in the period ended 30 September 2019, an increase of 10.50%, compared to QAR 658.2 million for the same period in 2018, while the company’s earnings per share stood at QAR 0.13 versus QAR 0.12 for the corresponding period of last year. As for the third quarter of 2019, Nakilat posted a profit of QAR 252.4 million, compared to QAR 214.9 million for the same period in 2018, an increase of about 17.4%.

 

Ø  Comprehensive Income: the statement of comprehensive income showed that the company recorded a net valuation loss of about QAR 704.6 million (mostly due to the decline in the fair value of derivatives), compared to profits of about QAR 866.02 million in the previous year of 2018.

 

Ø  Revenues: increased marginally during this period by 0.26% to reach QAR 2,732.8 million, of which 84% came from ships, while 12% was generated by joint ventures.

 

Ø  Shareholders' Equity: decreased by 7.65% by the end of this period due to about QAR 678 million decrease in hedging reserve. The return on equity amounted to 11.36% compared to 9.5% for the corresponding period of 2018, as a result of the drop in shareholders' equity. The book value of the shares sits at QAR 1.16 and the debt-to-equity (D/E) ratio stood at a multiple of 2.88 times.