Page 104 - Pakistan Oilfield Limited - Annual Report 2022

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PAKISTAN OILFIELDS LIMITED
Performance Indicators

(Rupees millions unless otherwise stated)
2017 2018 2019 2020 2021 2022
PROFIT & LOSS SUMMARY
Net sales
Crude oil 12,036 17,598 22,374 17,264 17,940 29,718
Gas 9,500 8,573 13,618 12,481 11,714 12,269
POLGAS-Refill of cylinders 5,608 6,306 7,420 6,567 6,190 9,673
Solvent oil 131 180 246 220 189 285
Sulphur 6 8 10 8 9 -
Total Net Sales 27,281 32,665 43,668 36,540 36,042 51,945
Cost of sales 13,209 15,529 18,258 14,172 14,409 17,997
Gross profit 14,072 17,136 25,410 22,368 21,633 33,948
Exploration costs 1,468 2,990 2,049 1,405 494 877
Administration expenses 109 170 181 192 195 206
Finance costs 746 1,919 3,774 2,212 260 5,549
Other charges 809 967 1,728 1,383 1,545 2,026
Other income 1,473 3,262 7,177 4,558 1,539 11,697
Profit before taxation 12,413 14,352 24,855 21,734 20,678 36,987
Provision for taxation 2,734 2,969 7,983 5,358 7,296 11,052
Profit for the year 9,679 11,383 16,872 16,376 13,382 25,935
Earnings before interest, taxes, depreciation
and amortization (EBITDA) 16,200 18,897 29,798 25,643 24,357 41,786
Dividends 9,462 10,053 14,193 14,193 14,193 19,870
BALANCE SHEET SUMMARY
Paid-up capital 2,365 2,365 2,839 2,839 2,839 2,839
Reserves 1,760 1,760 1,758 1,758 1,758 1,758
Unappropriated profit 27,373 28,643 33,475 35,670 34,766 46,467
Long term deposits 847 837 845 861 873 895
Deferred liabilities 14,999 15,643 17,057 20,027 19,978 24,970
Current liabilities 10,307 20,917 25,516 30,441 34,130 41,125
Fixed assets (less depreciation) 9,855 9,405 8,499 7,542 6,680 6,702
Development & decommissioning costs 13,373 12,597 11,054 12,356 13,673 10,209
Exploration & evaluation assets 1,884 2,591 53 2,773 512 3,020
Long term investment 9,616 9,616 9,616 9,616 9,616 9,616
Other long term assets 17 15 26 27 37 30
Current assets 22,906 35,943 52,242 59,282 63,826 88,477
CASH FLOWS
Operating activities 15,674 19,327 21,425 23,263 19,480 27,906
Investing activities (3,916) (3,361) 137 (2,706) 452 (921)
Financing activities (8,275) (10,022) (11,570) (14,170) (14,163) (14,162)
Exchange rate effect (65) 1,407 4,236 900 (1,245) 7,327
Opening Balance 10,764 14,182 21,533 35,761 43,048 47,572
Cash and cash equivalents at year end 14,182 21,533 35,761 43,048 47,572 67,723
Free Cash Flows 10,661 14,552 20,025 16,526 17,746 23,336
OTHER INFORMATION
Contribution to national exchequer (Rs millions) 8,202 10,981 18,601 14,142 16,864 25,231
Foreign exchange savings (US $ million) 332 465 520 320 344 538
Market Capitalization (Rs millions) 108,374 158,909 115,214 99,528 111,799 115,191
No. of Shareholders 5,738 4,954 5,756 7,090 7,597 7,858