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TOTALENERGIES MARKETING NIGERIA PLC

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TOTALENERGIES MARKETING NIGERIA PLC- QUARTER 3 - FINANCIAL STATEMENT FOR 2021

10/28/2021 | 10:28pm EDT

TOTALENERGIES MARKETING NIGERIA PLC

UNAUDITED FINANCIAL STATEMENT

30 September, 2021

Contents

Page

Results at a glance

1

Statement of financial position

2

Statement of profit or loss and other comprehensive income

3

Statement of changes in equity

4

Statement of cash flows

5

Notes to the financial statements

6

TOTALENERGIES MARKETING NIGERIA PLC

RESULTS AT A GLANCE

FOR THE PERIOD ENDED

30 September

30 September

2021

2020

Change

₦'000

₦'000

%

Revenue

242,224,249

151,707,143

60

Profit before minimum and income taxation

19,723,246

912,886

2,061

Profit for the year

13,386,101

500,119

2,577

Share capital

169,761

169,761

-

Shareholders' funds

38,141,687

26,544,166

44

Total dividend

1,358,087

-

Interim dividend - proposed

1,358,087

-

30 September

30 September

2021

2020

Change

PER SHARE DATA:

%

Based on 339,521,837 ordinary

shares of 50 kobo each:

Earnings per 50 kobo share (Naira) - basic

39.43

1.47

2,577

Dividend per 50 kobo share (Naira) 1

4.00

0.00

-

Dividend cover (times)

9.86

0.00

-

Stock exchange quotation (Naira)

192.00

97.50

97

Number of staff

434

439

(1)

1

TOTALENERGIES MARKETING NIGERIA PLC

STATEMENT OF FINANCIAL POSITION

AS AT

30 September

31 December

2021

2020

Notes

₦'000

₦'000

Non-current assets

Property, plant and equipment

16

33,013,902

36,207,654

Right-of-use assets

17 (i)

7,476,314

8,189,839

Intangible assets

15

135,531

142,420

Witholding tax receivables

11.2.1

433,774

433,774

Trade and other receivables

19.1

1,978,780

2,326,547

Total non-current assets

43,038,301

47,300,234

Current Assets

Inventories

18

29,640,047

21,619,936

Witholding tax receivables

11.2.1

762,915

1,212,223

Trade and other receivables

19

62,752,562

41,335,763

Prepayments

20

949,629

1,130,452

Cash and cash equivalents

24

60,668,585

31,014,277

Total current assets

154,773,738

96,312,651

Total assets

197,812,039

143,612,885

Equity

Share capital

23

169,761

169,761

Retained earnings

37,971,926

27,981,218

Total equity

38,141,687

28,150,979

Non-current liabilities

Deferred tax liabilities

11.3

4,563,432

4,503,670

Lease liabilities

21 (ii)

311,172

498,810

Employee benefits

12

662,125

641,174

Total non-current liabilities

5,536,729

5,643,654

Current liabilities

Current tax liabilities

11.2

5,732,381

438,797

Loans and borrowings

21 (i)

32,279,010

32,614,323

Employee benefits

12

67,159

67,159

Trade and other payables

22

112,764,845

73,485,400

Deferred income

22.2

2,969,408

2,698,297

Lease liabilities

21 (ii)

320,820

514,276

Total current liabilities

154,133,624

109,818,252

Total liabilities

159,670,352

115,461,906

Total equity and liabilities

197,812,039

143,612,885

These financial statements were approved by the Board of Directors of the Company on 28 October 2021 and signed on behalf of the Board by:

Lesley Green - Executive Director

FRC/2020/003/00000020680

Additionally certified by:

Samson Eghwerehe - Head of Finance

FRC/2018/ICAN/00000018952

The notes form an integral part of these financial statements.

2

TOTALENERGIES MARKETING NIGERIA PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED

For the three months ended

For the nine months ended

30 September

30 September

30 September

30 September

2021

2020

2021

2020

Notes

₦'000

₦'000

₦'000

₦'000

Revenue

6

90,891,011

45,002,199

242,224,249

151,707,143

Cost of sales

10

(75,809,473)

(36,372,724)

(201,639,024)

(130,677,602)

Gross profit

15,081,538

8,629,475

40,585,225

21,029,541

Other income

9.1

1,179,774

372,902

3,653,580

1,152,300

Other expenses

9.2

-

(59,909)

-

(301,609)

Selling & distribution costs

10

(827,487)

(734,833)

(2,433,791)

(2,407,489)

Administrative expenses

10

(7,264,514)

(6,042,452)

(21,042,117)

(17,890,237)

Impairment loss on trade receivables

27 (iv)

(43,898)

(166,883)

(111,515)

(301,018)

Operating profit

8,125,413

1,998,300

20,651,382

1,281,488

Finance income

8

251,574

49,654

346,181

2,197,238

Finance costs

8

(432,307)

(611,170)

(1,274,317)

(2,565,841)

Net finance costs

(180,733)

(561,516)

(928,136)

(368,603)

Profit before minimum taxation

7,944,679

1,436,784

19,723,246

912,886

Minimum taxation

11.1.3

-

108,476

-

(164,546)

Profit before income taxation

7,944,679

1,545,260

19,723,246

748,340

Income taxation

11.1.1

(2,624,169)

(507,953)

(6,337,145)

(248,221)

Profit for the year

5,320,510

1,037,307

13,386,101

500,119

Other comprehensive income

-

-

-

-

Total comprehensive income for the year

5,320,510

1,037,307

13,386,101

500,119

Earnings per share

Basic and diluted earnings per share

14

15.67

3.06

39.43

1.47

The notes form an integral part of these financial statements.

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Total Nigeria plc published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 02:27:04 UTC.


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Sales 2022 372 B 896 M 896 M
Net income 2022 16 150 M 38,9 M 38,9 M
Net Debt 2022 - - -
P/E ratio 2022 5,22x
Yield 2022 10,2%
Capitalization 79 618 M 192 M 192 M
Capi. / Sales 2022 0,21x
Capi. / Sales 2023 0,21x
Nbr of Employees 438
Free-Float 38,0%
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 3
Last Close Price 234,50 NGN
Average target price 286,81 NGN
Spread / Average Target 22,3%
EPS Revisions
Managers and Directors
Samba Salfal Seye Managing Director & Director
Stanislas Mittelman Chairman
Felix Majekodunmi Non-Executive Director
Tejiro Ibru Non-Executive Director
Ahmed Rufa'i Sirajo Non-Executive Director