106
107
Annual Report 2018
Consolidated statement of cash flows For the year ended 31 December 2018 (In Thousands Saudi Riyals)
Share capital Statutory reserve Non-control- ling interests Total equity Balance as at 1 January 2017 3,937,500 884,701 1,489,103 (6,694) 3,373,318 9,677,928 409,169 10,087,097 Net income for the year - - - - 800,313 800,313 6,198 806,511 Other comprehensive income - - - 1,352 - 1,352 - 1,352 Total comprehensive income for the year - - - 1,352 800,313 801,665 6,198 807,863 Transferred to statutory reserve - 80,031 - - (80,031) - - - Non-controlling interest share - - - - - - 7,446 7,446 Dividends (note 30) - - - - (984,375) (984,375) - (984,375) Balance as at 31 December 2017 3,937,500 964,732 1,489,103 (5,342) 3,109,225 9,495,218 422,813 9,918,031 Balance as at I January 2018 3,937,500 964,732 1,489,103 (5,342) 3,109,225 9,495,218 422,813 9,918,031 Net income for the year - - - - 481,238 481,238 7,119 488,357 Other comprehensive income - - - (8,717) - (8,717) - (8,717) Total comprehensive income for the year - - - (8,717) 481,238 472,521 7,119 479,640 Transferred to statutory reserve - 48,120 - - (48,120) - - - Non-controlling interest share - - - 757 - 757 11,498 12,255 Dividends (note 30) - - - - (590,625) (590,625) - (590,625) Balance as at 31 December 2018 3,937,500 1,012,852 1,489,103 (13,302) 2,951,718 9,377,871 441,430 9,819,301 Consolidated statements of changes in equity For the year ended 31 December 2018 (In Thousands Saudi Riyals) Share premium Other reserves Retained earnings Total
Note
2018
2017
OPERATING ACTIVITIES Net income for the year
488,357
806,511
Adjustments to reconcile net income for the year to net cash flows resulted from operating activities Depreciation 6 872,804
801,567 52,471
Amortization
8
52,184 21,302 3,377 389,113 118,529 (11,921) 92,186 (53,286) (430,030) (192,050) 67,486 158,251 12,357 (437,272) (359,352) (98,037) (12,026) 1,119,244 (57,780) 77,571 (936,660) (145,667) 2,025,931
Provision for doubtful debts Provision for other investments
13
1,638 2,822
Finance costs
24
308,435 (82,153) (5,286) 100,760 1,986,765 (50,084) (404,897) 22,364 73,135 (153,905) 10,468 (502,919) (262,581) (76,049) (5,131) 1,140,085
Share in results of an associate
9
Gain on disposal of property and equipment
23 21
Zakat and taxes
Changes in operating assets and liabilities:
Inventories
Trade and other receivables Prepayments and other current assets Receivables from finance lease Trade and other payables Employees' end of service benefits Cash generated from operations Finance costs paid
19
Zakat and taxes paid
21
Employees' end of service benefits paid Net cash flows generated from operating activities
INVESTING ACTIVITIES Acquisition ofpropetiy and equipment
7،6
(827,373)
Proceeds from disposal of property and equipment
7,582
7
Ships under construction Investment in an associate
(784,955) (74,625) 34,090
9-2 9-1
Dividends received from an associate Other investments, including derivatives Net cash flows used in investing activities
-
(19,080)
4,500
(1,081,616)
(1,640,781)
FINANCING ACTIVITIES Proceeds from long term loans Proceeds from short term loans Repayment of long-term loans Repayment from short term loans
914,825 586,000
1,586,640
18
-
(1,075,289) (490,000) (582,799) 12,000 (635,263) (597,635) 1,190,441 592,806
(1,001,146)
18
-
Dividends paid
(981,796)
Non-controlling interests
7,446
Net cash flows generated / used in financing activities Decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at end of the year Significant non-cash transactions: Ships under construction transferred to property and equipment
(388,856) (889,552) 2,079,993 1,190,441
15 15
7
1,757,286
1,061,130
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