TotalEnergies Marketing Kenya : Summary of Audited Financial Statements for the Year Ended 31st December 2023
April 29, 2024 at 07:55 am EDT
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STATEMENT OF FINANCIAL POSITION
AS AT
31 Dec 2023
31 Dec 2022
KShs'000
KShs'000
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment
12,193,328
11,732,456
Right-of-use assets
1,305,390
1,501,274
Goodwill
416,679
416,679
Intangible assets
307,045
297,103
Government securities held at fair value through other comprehensive income (FVOCI)
7,743,929
-
Deferred tax assets
612,209
405,543
Total non-current assets
22,578,580
14,353,055
CURRENT ASSETS
Inventories
13,057,279
11,890,143
Trade and other receivables
29,424,340
26,059,025
Amounts due from related companies
2,377,052
1,120,612
Cash and bank balances
7,878,221
19,595,935
Total current assets
52,736,892
58,665,715
-
24,364
TOTAL ASSETS
75,315,472
73,043,134
EQUITY AND LIABILITIES
EQUITY
Share capital
9,974,771
9,974,771
Share premium
1,967,520
1,967,520
Fair value reserve
(203,649)
-
Retained earnings
20,486,381
18,288,158
Total equity
32,225,023
30,230,449
NON-CURRENT LIABILITIES
Trade and other payables
798,434
824,398
Lease liability
700,729
721,945
Provisions
304,656
299,975
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED
31 Dec 2023
31 Dec 2022
KShs'000
KShs'000
CASH FLOWS FROM OPERATING ACTIVITIES
Cash generated from/ (used in) operations
3,231,317
(296,182)
Tax paid
(1,790,680)
(1,293,468)
Net cash generated from/ (used in) operating activities
1,440,637
(1,589,650)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment
(2,204,427)
(1,916,458)
Purchase of intangible assets
(54,942)
(106,568)
Purchase of leasehold land
-
(20,006)
Interest received on government securities at FVOCI
513,979
-
Interest received on bank deposits
890,932
567,259
Proceeds on disposal of intangible assets, property, plant and equipment
10,588
15,381
Net cash used in investing activities
(843,870)
(1,460,392)
CASH FLOWS FROM FINANCING ACTIVITIES
Interest payments on borrowings
(2,249,975)
(839,801)
Lease liability payments - principal
(217,653)
(162,623)
Lease liability payments - interest
(72,376)
(81,407)
Dividends paid
(819,769)
(824,659)
(3,359,773)
(1,908,490)
Net decrease in cash and cash equivalents
(2,763,006)
(4,958,532)
Effect of exchange rate changes on cash and cash equivalents
22,078
(115,797)
Cash and cash equivalents as at 1 January
5,026,127
10,100,456
Cash and cash equivalents as at 31 December
2,285,199
5,026,127
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Disclaimer
Total Kenya Ltd. published this content on
29 April 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
29 April 2024 11:54:04 UTC.
TotalEnergies Marketing Kenya PLC (formerly Total Kenya PLC) specializes in producing and distributing oil products. The group's products include fuels (gasoline, diesel), lubricants, liquefied petroleum gas, bitumen and chemicals.
At the end of 2020, the group operated a network of over 200 service stations located in Kenya.
Kenya accounts for 92.2% of net sales.