6 Bahri Finance Division Annual Report 2017 114
115
Graph 5 – Gross Operating Revenue
Graph 6 – Consolidated Income Statement The below graph shows decreases in revenue and operating income due to declining global transportation rates in 2017 driven by a struggling global economy in addition to the declining volume of crude oil imports and exports, further compounded by a surplus in shipping capacity. Operating income, furthermore, was negatively affected by increased bunker costs. An increase in Bahri’s fleet’s size and its growth in the logistics sector, however, mitigated the effects of declining transportation and shipping rates on the Company’s performance and financial results.
Too close
2,500,000
2,000,000
Too close
8,000,000
1,500,000
6,000,000
1,000,000
500,000
4,000,000
0
2013
2014
2015
2016
2017
2,000,000
Logistics Unit
Chemicals Unit
Crude Oil Unit Dry Bulk Unit
Total Operating Income
Headquarters and Others
0
2013
2014
2015
2016
2017
Total Operating Income 2013 – 2017
Net Period Income
Operating Income
Operating Revenues
(SAR “000”)
2017
2016
2015
2014
2013
2016 – 2017 Consolidated Income Statement
Oil Transportation Chemicals Unit
776,792 137,823 344,011 46,998 15,057
1,387,926
1,746,737
448,540 148,962 22,968 53,756
307,734 147,949 83,360 40,519
(SAR “000”)
2017
2016
2015
2014
2013
167,347 277,573 45,790 13,695
212,980 185,032 51,770
6,045,835 1,320,681
Operating Revenues Operating Income Net Period Income
6,788,484 1,892,331 1,749,726
7,502,120 1,980,030 1,817,583
3,626,412
2,846,698
Logistics Unit
575,351 533,840
500,439 752,262
Dry Bulk Transportation
806,511
Headquarters and Others Total Operating Income
N/A
N/A
N/A
1,320,681 1,892,331 2,196,519
674,226
579,562
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