Nakilat achieves QAR 775 million net profit for the first half of 2023
Doha, Qatar – 02 August 2023
Nakilat, one of the world’s largest Liquefied Natural Gas (LNG) fleet operators achieved a net profit of QAR 775 million for the first half of the year ending 30th June 2023. This represents an increase of 6.1% compared to the same period in 2022.
As a global leader and preferred provider of energy transportation and maritime services, Nakilat is unwavering in its commitment to achieving operational excellence. Our primary goal is to ensure the seamless, secure, and efficient delivery of clean energy to the global market through our comprehensive range of maritime services. Additionally, we continuously enhance our value proposition by offering ship repair, industrial and offshore fabrication, towage, and various other maritime services.
Here are the key financial highlights from the first half of 2023:
- Net profit of QAR 775 million, representing an increase of 6.1%.
- Profits of joint venture companies operating in LNG transportation and shipyards increased by 18.6%
Through a combination of strategic initiatives, and effective cost management, Nakilat has successfully navigated through a challenging business landscape, delivering sound results for its shareholders. This profitability reflects the company’s ability to adapt to changing global market dynamics and business environment.
Eng. Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, expressed his satisfaction with the company’s stable financial performance in the first half of 2023. “This success is a testament to Nakilat’s outstanding operational excellence in energy transportation and maritime services, optimizing resource allocation, and fostering a culture of continuous improvement. We remain committed to delivering exceptional value to our clients to stay at the forefront of our industry. As the demand for clean energy shipping capacities continue to rise worldwide, Nakilat is fully dedicated to meeting the long-term requirements for diversified, secure, and reliable energy transportation solutions. By doing so, It will enable us to further enhance the company’s value to our esteemed customer base, expand our asset portfolio, scale operations, and explore new business opportunities, ultimately driving sustainable growth and creating additional value for all stakeholders involved.”
The company achieved five stars in the British Safety Councils Occupational Health and Safety audit for the sixth consecutive time and the Environment audit on its maiden attempt. The ratings qualify Nakilat to contend for BSC’s Sword and Globe of Honour awards in 2023. The company will continue to build on this success and maintain our commitment to the highest standards of health, safety and environmental sustainability practices to maintain the position as a leader in the shipping & maritime industry.
Nakilat will host an investor relations conference call to discuss its financial results for the first half of 2023. The conference call will take place on Thursday, 3 August 2023, at 13:30 (Doha Time), and the presentation will be made available on the company’s website prior to the call. For further information on Nakilat’s conference call dial-in details, please visit www.nakilat.com
Since its establishment in 2004, Nakilat has evolved into a global leader and provider of choice for energy transportation and maritime services. With the world’s largest LNG fleet of 69 LNG carriers, Nakilat also manages and operates one floating storage regasification unit (FSRU), and four very large LPG carriers (VLGCs). In addition, the company provides comprehensive ship repair and offshore fabrication services, shipping agency services, as well as towage and other marine support services through its JVs: Nakilat-Keppel Offshore & Marine (N-KOM), Qatar Fabrication Company (QFAB), Nakilat SvitzerWisjmuller (NSW), and Nakilat Agency Company Ltd. (NAC).
