TOTALENERGIES MARKETING NIGERIA : QUARTER 4 - FINANCIAL STATEMENT FOR 2022

TOTALENERGIES MARKETING NIGERIA PLC

UNAUDITED FINANCIAL STATEMENT

DECEMBER 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 December		31 December
	2022		2021		Change
	₦'000		₦'000	%
Revenue	482,470,780	341,316,345	41
Profit before income taxation	24,784,275	24,835,555	(0)
Profit for the year	16,433,667	16,862,130	-2.541
Total comprehensive income for the year	16,433,667	16,862,130	-2.541
Share capital	169,761	169,761	-
Shareholders' funds	50,608,469	41,619,305	22
Total dividend	1,358,087	7,537,384
Interim dividend - declared	1,358,087	1,358,087
Final dividend - proposed	-	6,179,297
Dividend declared	-	2,063,385
	31 December		31 December
	2022		2021		Change
PER SHARE DATA:				%
Based on 339,521,837 ordinary
shares of 50 kobo each:
Earnings per 50 kobo share (Naira) - basic	48.40	49.66	-2.541
Dividend per 50 kobo share (Naira) 1	4.00	22.20	(82)
Dividend cover (times)	12.10	2.24	441
Stock exchange quotation (Naira)	193.00	221.90	(13)
Number of staff	429	436	(2)

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TOTALENERGIES MARKETING NIGERIA PLC

STATEMENT OF FINANCIAL POSITION
AS AT		31 December		31 December
		2022	2021
	Notes	₦'000		₦'000
Non-current assets
Property, plant and equipment	16	41,866,103	38,734,517
Right-of-use assets	17 (i)	7,938,283	7,862,178
Intangible assets	15	191,875	123,302
Trade and other receivables	19.1	2,733,673		2,830,275
Total non-current assets		52,729,934	49,550,272
Current Assets
Inventories	18	62,193,812	29,202,091
Witholding tax receivables	11.2.1	984,265	1,608,541
Trade and other receivables	19	111,391,825	63,966,447
Prepayments	20	650,943	1,448,934
Cash and cash equivalents	24	81,383,049		62,952,681
Total current assets		256,603,894		159,178,694
Total assets		309,333,828	208,728,966
Equity
Share capital	23	169,761	169,761
Retained earnings		50,438,708		41,449,544
Total equity		50,608,469	41,619,305
Non-current liabilities
Deferred tax liabilities	11.3	7,730,165	5,970,517
Lease liabilities	21 (ii)	336,527	548,114
Employee benefits	12	1,236,428		1,150,202
Total non-current liabilities		9,303,120	7,668,833
Current liabilities
Current tax liabilities	11.2	6,217,194	6,136,740
Loans and borrowings	21 (i)	48,392,208	15,116,802
Employee benefits	12	-	7,893
Trade and other payables	22	191,063,044	134,545,293
Deferred income	22.1	3,402,832	3,068,991
Lease liabilities	21 (ii)	346,961		565,109
Total current liabilities		249,422,239		159,440,828
Total liabilities		258,725,359		167,109,661
Total equity and liabilities		309,333,828	208,728,966

These financial statements were approved and authorised for issue by the Board of Directors of the Company on 27 January 2023 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

		For the three months ended		For the twelve months ended
		31 December		31 December		31 December		31 December
		2022	2021	2022	2021
	Notes	₦'000		₦'000		₦'000		₦'000
Revenue	6	145,282,810	99,092,096	482,470,780	341,316,345
Cost of sales	10	(129,757,964)		(84,677,031)		(422,286,679)		(286,316,055)
Gross profit		15,524,846	14,415,065	60,184,101	55,000,290
Other income	9.1	827,586	825,024	3,482,059	4,478,604
Selling & distribution costs	10	(651,111)	(796,989)	(3,701,516)	(3,230,780)
Administrative expenses	10	(8,255,515)	(9,114,940)	(31,961,945)	(30,157,057)
Impairment loss on financial assets	27 (iv)	(84,407)		(103,800)		40,189		(215,315)
Operating profit		7,361,399		5,122,791		28,042,888		25,774,173
Finance income	8	818,302	484,858	2,256,941	831,039
Finance costs	8	(2,178,728)		(495,340)		(5,515,554)		(1,769,657)
Net finance costs		(1,360,426)		(10,482)		(3,258,613)		(938,618)
Profit before income taxation		6,000,973	5,112,309	24,784,275	24,835,555
Income taxation	11.1.1	(2,073,118)		(1,636,280)		(8,350,608)		(7,973,425)
Profit for the year		3,927,855	3,476,029	16,433,667	16,862,130
Other comprehensive income		-		-		-		-
Total comprehensive income for the year		3,927,855	3,476,029	16,433,667	16,862,130
Earnings per share
Basic and diluted earnings per share	14	11.57	10.24	48.40	49.66

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

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