Page 86 - Pakistan Oilfields Limited - Annual Report 2021

PERFORMANCE INDICATORS

(Rupees millions unless otherwise stated)
2016 2017 2018 2019 2020 2021
PROFIT & LOSS SUMMARY

Net sales
Crude oil 9,652 12,036 17,598 22,374 17,264 17,940
Gas 9,627 9,500 8,573 13,618 12,481 11,714
POLGAS-Refill of cylinders 5,373 5,608 6,306 7,420 6,567 6,190
Solvent oil 186 131 180 246 220 189
Sulphur 10 6 8 10 8 9
Total Net Sales 24,848 27,281 32,665 43,668 36,540 36,042
Cost of sales 13,605 13,209 15,529 18,258 14,172 14,409
Gross profit 11,243 14,072 17,136 25,410 22,368 21,633
Exploration costs 2,052 1,468 2,990 2,049 1,405 494
Administration expenses 140 109 170 181 192 195
Finance costs 1,022 746 1,919 3,774 2,212 260
Other charges 560 809 967 1,728 1,383 1,545
Other income 1,411 1,473 3,262 7,177 4,558 1,539
Profit before taxation 8,880 12,413 14,352 24,855 21,734 20,678
Provision for taxation 1,646 2,734 2,969 7,983 5,358 7,296
Profit for the year 7,234 9,679 11,383 16,872 16,376 13,382
Earnings before interest, taxes, depreciation
and amortization (EBITDA) 12,751 16,200 18,897 29,798 25,643 24,357
Dividends 8,279 9,462 10,053 14,193 14,193 14,193

BALANCE SHEET SUMMARY
Paid-up capital 2,365 2,365 2,365 2,839 2,839 2,839
Reserves 1,760 1,760 1,760 1,758 1,758 1,758
Unappropriated profit 26,028 27,373 28,643 33,475 35,670 34,766
Long term deposits 831 847 837 845 861 873
Deferred liabilities 15,637 14,999 15,643 17,057 20,027 19,978
Current liabilities 9,096 10,307 20,917 25,516 30,441 34,130
Fixed assets (less depreciation) 10,421 9,855 9,405 8,499 7,542 6,680
Development & decommissioning costs 14,585 13,373 12,597 11,054 12,356 13,673
Exploration & evaluation assets 901 1,884 2,591 53 2,773 512
Long term investment 9,616 9,616 9,616 9,616 9,616 9,616
Other long term assets 12 17 15 26 27 37
Curent assets 20,182 22,906 35,943 52,242 59,282 63,826

CASH FLOWS
Operating activities 12,467 15,674 19,327 21,425 23,263 19,480
Investing activities (3,071) (3,916) (3,361) 137 (2,706) 452
Financing activities (9,444) (8,275) (10,022) (11,570) (14,170) (14,163)
Exchange rate effect 197 (65) 1,407 4,236 900 (1,245)
Opening balance 10,614 10,764 14,182 21,533 35,761 43,048
Cash and cash equivalents at year end 10,764 14,182 21,533 35,761 43,048 47,572
Free Cash Flows 8,604 10,661 14,552 20,025 16,526 17,746

84 PAKISTAN OILFIELDS LIMITED