Financial Statement 2017

QAFCO
Financial Statement
2017

1
 Financial Statement 2017

Consolidated statement of financial position

(All amounts expressed in Qatari Riyals)

As at 31 December
2017 2016
ASSETS
Non - current assets
Catalysts 24,562,721 26,919,026
Intangible asset - license fee 11,693,513 12,338,852
Property, plant and equipment 12,778,135,115 13,630,434,856
Due from related parties 14,682,149 -
Deferred tax asset 1,982,410 -
12,831,055,907 13,669,692,734
Current assets
Cash and cash equivalents 1,654,335,076 2,634,348,296
Trade and other receivables 63,795,161 2 108,411,040
,1
Due from related parties 664,021,490 393,903,835
6
0
3
Inventories 890,964,575 3 903,318,047
8,
9
9
3,273,116,302 4
4 4,039,981,218
3,
0
Total assets 16,104,172,209 4,
,9
1 17,709,673,952
3,
0
3
1,
0
3
3
EQUITY AND LIABILITIES 4
0
3,
1
9,
EQUITY 8
4
8
8,
Share capital 1,000,000,000 9 ,3
0
0 1,000,000,000
8
Legal reserve 211,324,747 2 5
4 211,370,010
1,
Cumulative changes in fair values - 9 7 (60,125,196)
2
6
Retained earnings 13,444,021,804 1 12,937,244,837
Equity attributable to equity holders of the parent 14,655,346,551 8 14,088,489,651
Non-controlling interest 197,596,026 180,567,285
Total equity 14,852,942,577 14,269,056,936

LIABILITIES
Non-current liabilities
Provision for employee benefits 299,350,306 328,265,900
Deferred tax liabilities 16,664,559 -
316,014,865 328,265,900
Current liabilities
Trade and other payables 243,143,901 394,309,548
Due to related parties 668,161,792 3 259,112,321
9
2
Borrowing - 2,398,018,867
4
5
Other financial liabilities - 60,125,196
9,
Income tax payable 23,909,074 3, 785,184
935,214,767 0
1 3,112,351,116
Total liabilities 1,251,229,632 9
1 3,440,617,016
Total equity and liabilities 16,104,172,209 2, 17,709,673,952
5,
4
3
8
2
1 2
 Financial Statement 2017

Consolidated statement of profit or loss

(All amounts expressed in Qatari Riyals)

Year ended 31 December

2017 2016

Sales 5,221,693,631 4,650,264,891

Cost of sales (4,329,491,220) (4,238,835,199)
Gross profit 892,202,411 411,429,692
Other income - net 134,572,527 54,877,403
Selling and distribution costs (13,318,111) (8,465,667)
Administrative expenses (358,603,719) (619,953,179)
Impairment loss (21,337,549) (798,235,484)
Finance costs (106,305,114) (127,756,109)
Profit / (loss) for the year before income tax 527,210,445 (1,088,103,344)
Income tax - -
Profit / (loss) for the year after income tax 527,210,445 (1,088,103,344)

Attributable to:
Equity holders of the parent 506,731,704 (807,347,718)
Non-controlling interest 20,478,741 (280,755,626)
527,210,445 (1,088,103,344)

Consolidated statement of other comprehensive income

(All amounts expressed in Qatari Riyals)

Year ended 31 December

2017 2016

Profit/(loss) for the year 527,210,445 (1,088,103,344)

Other comprehensive income
Items that may be reclassified subsequently
to statement of profit or loss:
Net realised/unrealised gain on cash flow hedges 60,125,196 76,187,057
Total comprehensive profit/(loss) for the year 587,335,641 (1,011,916,287)

Attributable to:
Equity holders of the parent 566,856,900 (731,160,661)
Non-controlling interest 20,478,741 (280,755,626)
587,335,641 (1,011,916,287)