TOTALENERGIES MARKETING NIGERIA PLC
UNAUDITED FINANCIAL STATEMENT
31 December, 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 YEAR ENDED | 31 December | 31 December | |||
2021 | 2020 | Change | |||
₦'000 | ₦'000 | % | |||
Revenue | 341,168,577 | 204,721,463 | 67 | ||
Profit before minimum and income taxation | 24,989,815 | 2,909,038 | 759 | ||
Profit for the year | 16,725,447 | 2,063,385 | 711 | ||
Share capital | 169,761 | 169,761 | - | ||
Shareholders' funds | 41,481,032 | 28,150,979 | 47 | ||
Total dividend | 1,358,087 | 2,063,385 | |||
Interim dividend - proposed | 1,358,087 | - | |||
Final dividend - proposed | - | 2,063,385 | |||
Dividend declared | - | 2,063,385 | |||
31 December | 31 December | ||||
2021 | 2020 | Change | |||
PER SHARE DATA: | % | ||||
Based on 339,521,837 ordinary | |||||
shares of 50 kobo each: | |||||
Earnings per 50 kobo share (Naira) - basic | 49.26 | 6.08 | 711 | ||
Dividend per 50 kobo share (Naira) 1 | 4.00 | 6.08 | (34) | ||
Dividend cover (times) | 12.32 | 1.00 | 1,132 | ||
Stock exchange quotation (Naira) | 221.90 | 130.00 | 71 | ||
Number of staff | 436 | 438 | (0) |
1
TOTALENERGIES MARKETING NIGERIA PLC
STATEMENT OF FINANCIAL POSITION | ||||
AS AT | 31 December | 31 December | ||
2021 | 2020 | |||
Notes | ₦'000 | ₦'000 | ||
Non-current assets | ||||
Property, plant and equipment | 16 | 38,734,516 | 36,207,654 | |
Right-of-use assets | 17 (i) | 7,838,642 | 8,189,839 | |
Intangible assets | 15 | 123,302 | 142,420 | |
Witholding tax receivables | 11.2.1 | 506,653 | 433,774 | |
Trade and other receivables | 19.1 | 4,260,499 | 2,326,547 | |
Total non-current assets | 51,463,612 | 47,300,234 | ||
Current Assets | ||||
Inventories | 18 | 29,679,713 | 21,619,936 | |
Witholding tax receivables | 11.2.1 | 1,101,887 | 1,212,223 | |
Trade and other receivables | 19 | 61,732,613 | 41,335,763 | |
Prepayments | 20 | 809,534 | 1,130,452 | |
Cash and cash equivalents | 24 | 62,449,910 | 31,014,277 | |
Total current assets | 155,773,657 | 96,312,651 | ||
Total assets | 207,237,269 | 143,612,885 | ||
Equity | ||||
Share capital | 23 | 169,761 | 169,761 | |
Retained earnings | 41,311,271 | 27,981,218 | ||
Total equity | 41,481,032 | 28,150,979 | ||
Non-current liabilities | ||||
Deferred tax liabilities | 11.3 | 6,090,629 | 4,503,670 | |
Lease liabilities | 21 (ii) | 536,645 | 498,810 | |
Employee benefits | 12 | 916,924 | 641,174 | |
Total non-current liabilities | 7,544,198 | 5,643,654 | ||
Current liabilities | ||||
Current tax liabilities | 11.2 | 6,306,805 | 438,797 | |
Loans and borrowings | 21 (i) | 14,991,316 | 32,614,323 | |
Employee benefits | 12 | - | 67,159 | |
Trade and other payables | 22 | 133,291,642 | 73,485,400 | |
Deferred income | 22.2 | 3,068,991 | 2,698,297 | |
Lease liabilities | 21 (ii) | 553,285 | 514,276 | |
Total current liabilities | 158,212,039 | 109,818,252 | ||
Total liabilities | 165,756,237 | 115,461,906 | ||
Total equity and liabilities | 207,237,269 | 143,612,885 | ||
These financial statements were approved by the Board of Directors of the Company on 27 January 2022 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 YEAR ENDED
For the three months ended | For the twelve months ended | |||||||
31 December | 31 December | 31 December | 31 December | |||||
2021 | 2020 | 2021 | 2020 | |||||
Notes | ₦'000 | ₦'000 | ₦'000 | ₦'000 | ||||
Revenue | 6 | 98,944,328 | 53,014,320 | 341,168,577 | 204,721,463 | |||
Cost of sales | 10 | (84,539,836) | (43,296,450) | (286,178,860) | (173,974,052) | |||
Gross profit | 14,404,492 | 9,717,870 | 54,989,717 | 30,747,411 | ||||
Other income | 9.1 | 814,179 | (112,236) | 4,467,759 | 1,040,064 | |||
Other expenses | 9.2 | (101,569) | 301,609 | (101,569) | - | |||
Selling & distribution costs | 10 | (796,989) | (554,770) | (3,230,780) | (2,962,259) | |||
Administrative expenses | 10 | (8,839,652) | (7,168,705) | (29,881,769) | (25,058,942) | |||
Impairment loss on trade receivables | 27 (iv) | (200,936) | 72,965 | (312,451) | (228,053) | |||
Operating profit | 5,279,525 | 2,256,733 | 25,930,907 | 3,538,221 | ||||
Finance income | 8 | 484,858 | 65,947 | 831,039 | 2,263,185 | |||
Finance costs | 8 | (497,814) | (326,527) | (1,772,131) | (2,892,368) | |||
Net finance costs | (12,956) | (260,580) | (941,092) | (629,183) | ||||
Profit before minimum taxation | 5,266,569 | 1,996,153 | 24,989,815 | 2,909,038 | ||||
Minimum taxation | 11.1.3 | - | 164,546 | - | - | |||
Profit before income taxation | 5,266,569 | 2,160,699 | 24,989,815 | 2,909,038 | ||||
Income taxation | 11.1.1 | (1,927,223) | (597,432) | (8,264,368) | (845,653) | |||
Profit for the year | 3,339,346 | 1,563,267 | 16,725,447 | 2,063,385 | ||||
Other comprehensive income | - | - | - | - | ||||
Total comprehensive income for the year | 3,339,346 | 1,563,267 | 16,725,447 | 2,063,385 | ||||
Earnings per share | ||||||||
Basic and diluted earnings per share | 14 | 9.84 | 4.60 | 49.26 | 6.08 | |||
The notes form an integral part of these financial statements.
3
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Total Nigeria plc published this content on 28 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2022 12:22:12 UTC.