TOTALENERGIES MARKETING NIGERIA PLC
UNAUDITED FINANCIAL STATEMENTS
JUNE 2023
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 June | 30 June | |||
2023 | 2022 | Change | |||
₦'000 | ₦'000 | % | |||
Revenue | 274,602,860 | 209,014,372 | 31 | ||
Profit before income taxation | 13,476,053 | 12,732,574 | 6 | ||
Profit for the period | 8,787,348 | 8,528,826 | 3 | ||
Total comprehensive income for the period | 8,787,348 | 8,528,826 | 3 | ||
Share capital | 169,761 | 169,761 | - | ||
Shareholders' funds | 51,944,199 | 44,061,716 | 18 | ||
30 June | 30 June | ||||
2023 | 2022 | Change | |||
PER SHARE DATA: | % | ||||
Based on 339,521,837 ordinary | |||||
shares of 50 kobo each: | |||||
Earnings per 50 kobo share (Naira) - basic | 25.88 | 25.12 | 3 | ||
Stock exchange quotation (Naira) | 350.00 | 234.50 | 49 | ||
Number of staff | 424 | 435 | (3) |
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TOTALENERGIES MARKETING NIGERIA PLC
STATEMENT OF FINANCIAL POSITION | ||||
AS AT | 30 June | 31 December | ||
2023 | 2022 | |||
Notes | ₦'000 | ₦'000 | ||
Non-current assets | ||||
Property, plant and equipment | 16 | 40,874,510 | 41,866,105 | |
Right-of-use assets | 17 (i) | 6,952,243 | 7,938,283 | |
Intangible assets | 15 | 167,345 | 191,875 | |
Trade and other receivables | 19.1 | 4,914,875 | 1,985,733 | |
Total non-current assets | 52,908,973 | 51,981,996 | ||
Current Assets | ||||
Inventories | 18 | 48,474,380 | 59,275,749 | |
Witholding tax receivables | 11.2.1 | (206,743) | 984,265 | |
Trade and other receivables | 19 | 135,421,289 | 111,391,821 | |
Prepayments | 20 | 1,937,464 | 1,457,577 | |
Cash and cash equivalents | 27 | 111,690,904 | 82,724,315 | |
Total current assets | 297,317,294 | 255,833,727 | ||
Total assets | 350,226,267 | 307,815,723 | ||
Equity | ||||
Share capital | 26 | 169,761 | 169,761 | |
Retained earnings | 51,774,438 | 50,117,049 | ||
Total equity | 51,944,199 | 50,286,810 | ||
Non-current liabilities | ||||
Deferred tax liabilities | 11.3 | 7,606,469 | 7,655,848 | |
Lease liabilities | 22 | 215,593 | 361,427 | |
Employee benefits | 12 | 1,723,021 | 1,551,290 | |
Total non-current liabilities | 9,545,083 | 9,568,565 | ||
Current liabilities | ||||
Current tax liabilities | 11.2 | 4,428,117 | 6,351,740 | |
Loans and borrowings | 21 | 66,977,544 | 47,741,972 | |
Trade and other payables | 24 | 213,347,906 | 190,091,170 | |
Deferred income | 25 | 3,761,140 | 3,402,832 | |
Lease liabilities | 22 | 222,278 | 372,634 | |
Total current liabilities | 288,736,985 | 247,960,348 | ||
Total liabilities | 298,282,068 | 257,528,913 | ||
Total equity and liabilities | 350,226,267 | 307,815,723 |
These financial statements were approved and authorised for issue by the Board of Directors of the Company on 20 July 2023 and signed on behalf of the Board by:
Seye Samba - Managing Director
FRC/2021/003/00000024858
Additionally certified by:
Samson Eghwerehe - Head of Finance
FRC/2018/ICAN/00000018952
Lesley Green - Executive Director
FRC/2020/003/00000020680
The accompanying 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 six months ended | ||||||
30 June | 30 June | 30 June | 30 June | ||||
2023 | 2022 | 2023 | 2022 | ||||
Notes | ₦'000 | ₦'000 | ₦'000 | ₦'000 | |||
Revenue | 6 | 139,325,253 | 111,405,310 | 274,602,860 | 209,014,372 | ||
Cost of sales | 7 | (119,301,011) | (96,095,053) | (239,568,181) | (179,212,410) | ||
Gross profit | 20,024,242 | 15,310,257 | 35,034,679 | 29,801,962 |
Other income
Other expenses
Selling & distribution costs
Administrative expenses
Impairment write-back/ (loss) on financial assets
8.1 1,003,099
8.1.2 (1,502,802)
- (1,273,875)
- (10,125,485)
30 (iv) | 58,143 |
848,896 | 1,971,679 | 1,741,256 | |
- | (1,502,802) | - | |
(1,167,807) | (2,189,863) | (2,328,841) | |
(7,860,571) | (17,927,511) | (15,425,807) | |
(224,382) | 79,295 | (251,466) | |
Operating profit | 8,183,322 | |
Finance income | ||
9 | 504,409 | |
Finance costs | 9 | (1,635,643) |
Net finance costs | (1,131,234) | |
Profit before income taxation | 7,052,088 | |
Income taxation | 11.1.1 | (2,427,588) |
Profit for the period | 4,624,500 | |
Other comprehensive income | - | |
Total comprehensive income for | ||
4,624,500 | ||
the period | ||
Earnings per share | ||
Basic and diluted earnings per share | 14 | 13.62 |
6,906,393 | 15,465,477 | 13,537,104 | |
437,911 | 1,250,497 | 1,121,914 | |
(1,164,798) | (3,239,921) | (1,926,444) | |
(726,887) | (1,989,424) | (804,530) | |
6,179,506 | 13,476,053 | 12,732,574 | |
(2,016,367) | (4,688,705) | (4,203,748) | |
4,163,139 8,787,348 8,528,826
- | - | - | |
4,163,139 8,787,348 8,528,826
12.2625.8825.12
The accompaying notes form an integral part of these financial statements.
3
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Total Nigeria plc published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 11:28:02 UTC.