February, 14, 2022

GULF NAVIGATION REPORTS THE ANNUAL PRELIMINARY RESULTS OF 2021, RECORDING A NET PROFIT OF 81 MILLION DIRHAMS

Press Release:


Gulf Navigation reports the Annual Preliminary Results of 2021
recording a Net Profit of 81 million dirhams

 

Dubai, UAE, 14 February 2022: Gulf Navigation Holding PJSC (“GULFNAV”) the Dubai Financial Market listed maritime and shipping company, announced its annual preliminary unaudited financial results of 2021, reporting a net profit of 81 million dirhams compared to a net loss of 285 million dirhams in 2020.

Major Highlights:

  • Gross Revenue reached 122 million dirhams as of 31 Dec 2021 compared to 142 million dirhams for the same period in 2020.
  • Gross Profits of 24 million dirhams in 2021 compared to a Gross Losses of approximately 1 million dirhams in 2020.
  • Total Assets reached 834 million dirhams as of 31 Dec 2021 compared to 862 for the same period in 2020.
  • Shareholders Equity reached 399 million dirhams by the end of 2021.

 

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About Gulf Navigation Holding:

Gulf Navigation Holding PJSC (“GNH”) is a fully integrated and synergized organization with a multifunctional business. It is the only maritime and shipping company listed in the Dubai Financial Market since February 2007 under the symbol “GULFNAV”. The company is headquartered in Dubai, with branch offices inside the port of Fujairah, Khorfakkan, Abu Dhabi and an overseas office in the Kingdom of Saudi Arabia. The company has a fleet of chemical tankers, livestock transport vessels, operation support vessels, marine services, and ship repair operations.  As an ISO 9001:2015 certified company accredited by Bureau Veritas, GNH is committed to adhering to the requirements of the international management code for the safe operations of vessels, pollution prevention and environmental control, including compliance with all the applicable international laws, regulations and requirements. GNH constantly works to upgrade its operations and provide high-quality services to local and international markets. This opens new opportunities to improve GNH ’s services to existing customers while attracting new customers.

 

For media inquiries, please contact:

Nader Muqbel

Head of Investor Relations

Tel: +971 56 778 0799

E-mail: investor.relations@gulfnav.com