(The Group’s Comments) Nakilat Net Profit Climbs to QR 236 Million in the First Quarter of 2019

April 22, 2019

·         Profits: The net profits of Qatar Gas Transport Company Ltd. (Nakilat) amounted to QR 236 million in the first quarter of 2019, an increase of 9% compared to QR 216.4 million, while its earnings per share reached QR 0.43 in the period ended 31/3/2019, versus QR 0.39 for the corresponding period of 2018.

·         Comprehensive Income: Nakilat recorded an impairment loss in the statement of comprehensive income for hedging contracts, as well as a change in the fair value of its investments of about QR 277.67 million in the first quarter of 2019, compared to an assessment profit of QR 390.20 million for the same period of 2018.

·         Revenues: The company’s total revenues for the first quarter of 2018 rose by 1.4% to reach QR 902.4 million, compared to QR 890.3 million for the first quarter of 2018. The increase in revenues comes from the increase in the share of the company in the profits of joint ventures, which increased from QR 85 million to QR 103 million. This has offset the QR 5.7 million decline in operating revenues from ships, as well as the QR 2.4 million drop in marine services.

·         Shareholders' Equity: Decreased by 8.5% year-on-year or by QR 554 million (QR 1.00 per share) as a result of profits distributed last year. Hedge reserves decreased by QR 247 million compared to 2018, and return on equity reached 3.72% in the first quarter of 2019, compared to 3.65% for the corresponding period of 2018.