Condensed Interim Statement of Financial Position

Qatar National Cement Co. Q.S.C.

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

As at September 30,2015

September 30,2015
(QR’000)
Unaudited / Dec. 31, 2014
(QR’000)
Audited
ASSETS
Non-current assets
Property, plant and equipment and capital work in progress / 1,890,231 / 1,731,117
Investment properties / 6,637 / 7,682
Intangible assets / 1,032 / 2,496
Investments in associates / 52,947 / 49,314
Available-for-sale financial assets / 161,798 / 168,525
Total non-current assets / 2,112,645 / 1,959,134
Current assets
Inventories / 326,204 / 268,724
Accounts receivable and prepayments / 191,109 / 187,864
Cash and cash equivalents / 493,754 / 568,187
Total current assets / 1,011,067 / 1,024,775
TOTAL ASSETS / 3,123,712 / 2,983,909
EQUITY AND LIABILITIES
Equity
Share capital / 540,107 / 491,006
Legal reserve / 245,503 / 245,503
Development reserve / 406,589 / 406,589
Fair value reserve / 64,487 / 69,016
Retained earnings / 1,497,955 / 1,384,508
Total equity / 2,754,641 / 2,596,622
LIABILITIES
Non-current liabilities
Employees’ end of service benefits
Other Payables / 15,590
99,081 / 14,411
--
Total non-current liabilities / 114,671 / 14,411
Current liabilities
Accounts payable & Accruals / 254,400 / 372,876
Total current liabilities / 254,400 / 372,876
TOTAL LIABILITIES / 369,071 / 387,287
TOTAL EQUITY AND LIABILITIES / 3,123,712 / 2,983,909

This condensed interim financial information was approved on21stOctober2015and was signed by the following:

Mr. Salem Bin Butti Al-Naimi Mr. Mohammed Ali Al-Sulaiti

Chairman and Managing Director General Manager

Qatar National Cement Co. Q.S.C.

INTERIM CONDENSED STATEMENT OF PROFIT OR LOSS

For the Nine months ended September 30,2015

Nine months ended September 30,2015
(QR’000) / Nine months ended September 30,2014
(QR’000)
Unaudited / Unaudited
Revenue / 846,182 / 769,838
Cost of Sales / (496,047) / (431,253)
Gross profit / 350,135 / 338,585
Other income / 39,363 / 23,706
Selling and distribution expenses / (4,532) / (4,697)
General and administrative expenses / (27,453) / (25,132)
Share of profit\Loss from associate companies / 1,435 / (468)
Profit for the period / 358,948 / 331,994
Earnings per share
Basic and diluted earnings per share (Qatari Riyal) / 13 / 6.65 / 6.15
Weighted average number of ordinary shares outstanding / 13 / 54,010,656 / 54,010,656

The interim financial statements are published in accordance with Qatar Exchange instructions and are not audited by the External Auditors.

Certain of the comparative figures have been reclassified to conform with the presentation of the current period’s financial statements. Those reclassifications do not affect previously reported profit or equity.

Qatar National Cement Co. Q.S.C.

INTERIM CONDENSED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the Nine months ended September 30,2015

Nine months ended September 30, 2015
(QR’000) / Nine months ended September 30, 2014
(QR’000)
Unaudited / Unaudited
Profit for the period / 358,948 / 331,994
Other comprehensive income:
Items that may be reclassified subsequently to profit or loss
Net changes in fair value of available for sale financial assets / (6,727) / 18,937
Net changes in share of fair value reserves of associates / 2,198 / 2,375
Other comprehensive Loss/Income for the period / (4,529) / 21,312
Total Comprehensive income for the period / 354,419 / 353,306