Nakilat's Earnings Increased by 5.3 Percent in 2018

Doha, February 17 (QNA) - Nakilat today reported financial results for the year ended 31 December 2018, with a net profit of QR 892 million in 2018 (or QR 1.61 per share), an increase of 5.3 percent. The board of directors of Nakilat is pleased to recommend a cash dividend at QR 1.00 per share and to invite shareholders to the annual general assembly taking place on Tuesday, 19th March 2019. Nakilat's Board of Directors commended the company's solid financial results and operational performance, which bears testament to its resilience and prudent strategic efforts towards maintaining its leadership in the global energy transportation market, as well as supporting Qatar's ambition to be the top exporter of LNG. Complemented by strategic long-term agreements with well-established charterers and its own determination to operate sustainably, Nakilat has managed to maintain steady cashflow and generate positive value for its shareholders. During the year, Nakilat expanded its fleet with the addition of two liquefied natural gas (LNG) carriers and acquired a major stake in its first floating storage regasification unit (FSRU). This opened a new horizon and business avenue for the company to grow its international outreach, which in turn will further maximize value and returns for its shareholders. The company's effective expansions successfully contributed to enhancing operational excellence and are well reflected in its outstanding financial results. Nakilat is a Qatari LNG transport company providing the essential transportation link in the State of Qatar's LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising of 65 LNG vessels. Nakilat also owns and manages one FSRU vessel and four large LPG carriers. Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City via two strategic joint ventures: N-KOM and NDSQ. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters. (QNA)