Annual Report 2017
150
151
11 Consolidated Financial Statements
Consolidated Statement of Financial Position As at December 31, 2017 (In Thousands Saudi Riyals)
Consolidated Statement of Income For the year ending December 31, 2017 (In Thousands Saudi Riyals)
1 January 2016 (Note 32)
2016 (Note 32)
2016 (Note 32)
Notes
2017
Notes
2017
ASSETS NON-CURRENT ASSETS Property and equipment
6,045,835 (4,911,018) 1,134,817
Revenues
6,788,484 (5,030,411) 1,758,073
14,746,536
6
13,661,896 12,642,669
Operating costs
959,390 719,593 995,161 121,735 10,794
Ships under construction
7 8 9
1,235,565
1,099,901
Gross profit before bunker subsidy
Intangible assets
772,064
849,464
185,864
Bunker subsidy
134,258
Investment in an associates Receivables from finance lease
1,123,848
1,027,941
Gross profit
1,320,681 (171,274)
1,892,331 (111,062)
10 11
207,498 23,616
251,730 23,576
General and administrative expenses
22 23
Other investments
(24,198)
Other expenses, net Total operating profit
(1,508)
TOTAL NON-CURRENT ASSETS
17,553,209
17,024,487 15,895,281
1,125,209
1,779,761
CURRENT ASSETS Receivables from finance lease - current portion
8,344
Finance income Finance costs
18,955
56,860 290,759
10 12 13 14
44,232 240,675
36,109 203,610 989,879 337,423
(308,435) 82,153 907,271 (100,760) 806,511
24
(239,561) 147,044 1,706,199
Inventories
Share in results of an associate Income before zakat and taxes
9
1,474,988
Trade receivables, net
1,071,729
364,951 251,375 692,921 497,520
Prepayments and other current assets
376,139
Zakat and taxes, net
21
43,527
Investment held for sale
9
-
-
Net income for the year
1,749,726
Murabaha and short-term deposits
15.1
1,908,262
1,066,597
Net income for the year attributable to: Equity holders of the parent company
Cash and cash equivalents TOTAL CURRENT ASSETS
15
171,731
173,265
800,313
1,717,871
3,629,374 21,182,583
3,812,768
2,806,883
6,198
Non-controlling interests
31
31,855
TOTAL ASSETS
20,837,255 18,702,164
806,511
1,749,726
EQUITY AND LIABILITIES EQUITY
Earnings per share (Saudi Riyal): Basic
3,937,500 2,453,835
16 17
3,937,500 2,373,804
3,937,500 2,197,890
2.03 2.03
25 25
4.36 4.36
Share capital
Diluted
(5,342)
Statutory reserve Other reserves Retained earnings
(6,694)
(11,061)
3,109,225 9,495,218
3,373,318 9,677,928
2,817,536 8,941,865
The accompanying notes 1 to 34 form an integral part of these consolidated financial statements.
Equity attributable to equity holders of the parent company Non-controlling interests
31
422,813
409,169
377,314
Total equity
9,918,031
10,087,097
9,319,179
LIABILITIES NON-CURRENT LIABILITIES Sukuk and long term loans
9,180,585
18 19
8,663,558
7,475,216
69,467
Employees’ benefits
65,482
65,349
TOTAL NON-CURRENT LIABILITIES CURRENT LIABILITIES Long term loans - current portion Trade payables and other current liabilities
9,250,052
8,729,040
7,540,565
1,075,289
18 20 21
1,001,146
547,016 998,593 296,811
694,947 244,264
800,419 219,553
Provision for zakat and taxes TOTAL CURRENT LIABILITIES
2,014,500 11,264,552 21,182,583
2,021,118 10,750,158
1,842,420 9,382,985
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES
20,837,255 18,702,164
The accompanying notes 1 to 34 form an integral part of these consolidated financial statements.
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