TOTALENERGIES MARKETING NIGERIA : QUARTER 1 - FINANCIAL STATEMENT FOR 2022

TOTALENERGIES MARKETING NIGERIA PLC

UNAUDITED FINANCIAL STATEMENT

MARCH 2022

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 YEAR ENDED	31 March	31 March
2022	2021	Change
₦'000	₦'000	%
Revenue	97,609,062	66,695,945	46
Profit before income taxation	6,553,068	4,351,067	51
Profit for the year	4,365,687	2,970,459	47
Total comprehensive income for the year	4,365,687	2,970,459	47
Share capital	169,761	169,761	-
Shareholders' funds	46,077,873	41,619,305	11
31 March	31 March
2022	2021	Change
PER SHARE DATA:	%
Based on 339,521,837 ordinary
shares of 50 kobo each:
Earnings per 50 kobo share (Naira) - basic	12.86	8.75	47
Stock exchange quotation (Naira)	264.90	142.00	87
Number of staff	438	438

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TOTALENERGIES MARKETING NIGERIA PLC

STATEMENT OF FINANCIAL POSITION AS AT

31 March	31 December
2022	2021
Notes	₦'000	₦'000
Non-current assets
Property, plant and equipment	16	38,130,166	38,734,517
Right-of-use assets	17 (i)	7,357,159	7,862,178
Intangible assets	15	113,652	123,302
Witholding tax receivables	11.2.1	-	-
Trade and other receivables	19.1	1,666,507	2,830,275
Total non-current assets	47,267,484	49,550,272
Current Assets
Inventories	18	35,082,629	29,202,091
Witholding tax receivables	11.2.1	1,633,079	1,608,541
Trade and other receivables	19	94,844,544	63,966,447
Prepayments	20	1,816,350	1,448,934
Cash and cash equivalents	24	90,288,777	62,952,681
Total current assets	223,665,379	159,178,694
Total assets	270,932,863	208,728,966
Equity
Share capital	23	169,761	169,761
Retained earnings	45,908,112	41,449,544
Total equity	46,077,873	41,619,305
Non-current liabilities
Deferred tax liabilities	11.3	6,138,030	5,970,517
Lease liabilities	21 (ii)	528,255	548,114
Employee benefits	12	1,143,599	1,150,202
Total non-current liabilities	7,809,884	7,668,833
Current liabilities
Current tax liabilities	11.2	8,156,608	6,136,740
Loans and borrowings	21 (i)	48,030,257	15,116,802
Employee benefits	12	-	7,893
Trade and other payables	22	157,065,333	134,545,293
Deferred income	22.1	3,248,274	3,068,991
Lease liabilities	21 (ii)	544,634	565,109
Total current liabilities	217,045,106	159,440,828
Total liabilities	224,854,990	167,109,661
Total equity and liabilities	270,932,863	208,728,966

These financial statements were approved and authorised for issue by the Board of Directors of the Company on 27 April 2022 and signed on behalf of the Board by:

Seye Samba - Managing Director

FRC/2021/003/00000024858

Lesley Green - Executive Director

FRC/2020/003/00000020680

Additionally certified by:Samson Eghwerehe - Head of Finance

FRC/2018/ICAN/00000018952

The accompanying notes form an integral part of these financial statements.

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TOTALENERGIES MARKETING NIGERIA PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED

31 March	31 March
2022	2021
Notes	₦'000	₦'000
Revenue	6	97,609,062	66,695,945
Cost of sales	10	(83,117,357)	(55,208,175)
Gross profit	14,491,705	11,487,770
Other income	9.1	892,360	869,886
Other expenses	9.2	-	-
Selling & distribution costs	10	(1,161,034)	(864,409)
Administrative expenses	10	(7,565,236)	(6,975,698)
Impairment loss on financial assets	27 (iv)	(27,084)	(26,405)
Operating profit	6,630,711	4,491,144
Finance income	8	684,003	37,053
Finance costs	8	(761,646)	(177,130)
Net finance costs	(77,643)	(140,077)
Profit before income taxation	6,553,068	4,351,067
Income taxation	11.1.1	(2,187,381)	(1,380,608)
Profit for the year	4,365,687	2,970,459
Items that will not be reclassified to profit or loss
Actuarial gain on employee benefits during the year	12 (i)	-	-
Related tax	-	-
Other comprehensive income	-	-
Total comprehensive income for the year	4,365,687	2,970,459
Earnings per share
Basic and diluted earnings per share	14	12.86	8.75

The accompaying notes form an integral part of these financial statements.

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