Industries Of Qatar Co. · QSE:IQCD
Industries Of Qatar — Industries Qatar — FY2025 Earnings Presentation
51 slides from Industries Of Qatar's earnings presentation, Dec 31, 2025
Slide 1: Industries Qatar Investor Relations Presentation
CLASSIFICATION: C0 - NON-CONFIDENTIAL Industries Qatar Investor Relations Presentation 31 Dec 2025 “One of the region’s industrial giants with interests in the production of a wide range of petrochemical, fertilizer and steel products.” Publication Date: March […], 2015
Slide 2: Disclaimer
CLASSIFICATION: C0 - NON-CONFIDENTIAL DISCLAIMER The Companies in which Industries Qatar Q.P.S.C. directly and indirectly owns investments are separate entities. In this presentation, “IQ” and “the Group” are sometimes used for convenience in reference to Industries Qatar Q.P.S.C. This presentation
Slide 3: Table of Content
CLASSIFICATION: C0 - NON-CONFIDENTIAL Table of Content 1. About IQ 2. Competitive strengths 3. Regional peer review 4. Macroeconomic updates 5. Group results (For the period ending 31 Dec. 2025) 6. Segment results (For the period ending 31 Dec. 2025) 7. CAPEX 8. Dividends and market capitalization 9
Slide 4: About IQ
CLASSIFICATION: C0 - NON-CONFIDENTIAL About IQ 4 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 4
Slide 5: IQ at a Glance
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ at a Glance Overview • Industries Qatar (IQ) was incorporated and • QatarEnergy provides most head office listed on the Qatar Exchange in 2003. functions through a comprehensive service- • IQ is the second largest company at Qatar level agreement. Exchange by
Slide 6: IQ business segments at glance (YE-25)
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ business segments at glance (YE-25) Business segments overview Segment size by Revenue • Through its group companies, IQ operates in three distinct business segments: 27% 27% Petrochemicals Petrochemical, Fertilizer and Steel; Fertilizers • Production facilit
Slide 7: Competitive strengths
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive strengths 7 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 7
Slide 8: Competitive strengths
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive strengths • Assured feedstock supply Low-cost • Economies of scale and operationally diversified producer • Synergy benefits Strong • Solid liquidity position, with no long-term debt financial • Strong cash flow generation with stable EBITDA margins
Slide 9: Regional peer review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Regional peer review IQ ranked #37 among “2025 Forbes List of Top 100 Listed Companies in the Middle East” 9 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 9
Slide 10: Competitive positioning versus regional peers
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive positioning versus regional peers Market Cap. (USD’ billion) Total Assets (USD’ billion) Peer 1 49.2 Peer 1 71 Peer 2 21.0 IQ 11 IQ ranks #2 IQCD 20.8 IQ ranks #3 Peer 2 8 Peer 3 15.1 Peer 3 7 Peer 4 5.6 Peer 4 6 Note: Data as of 3Q-25 Note: Data as
Slide 11: Macroeconomic updates
CLASSIFICATION: C0 - NON-CONFIDENTIAL Macroeconomic updates 11 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 11
Slide 12: Macroeconomic updates
CLASSIFICATION: C0 - NON-CONFIDENTIAL Macroeconomic updates Petrochemicals • The petrochemical industry in 2025 faced trade tensions, LDPE ($/MT) geopolitical risks, and energy volatility, shaping demand, supply 1650 LLDPE ($/MT) chains, and pricing, while sustainability initiatives provided limited
Slide 13: Group results
CLASSIFICATION: C0 - NON-CONFIDENTIAL Group results (For the period ending 31 Dec. 2025) 13 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 13
Slide 14: Operational performance review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Operational performance review Production (MT’ 000) Production (MT’000) • 2024 vs 2025: Production volumes increased year-on-year, rise was mainly driven by higher production from the steel segment, setting new record for group’s production in its operational hi
Slide 15: Financial performance review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Financial performance review Revenue Revenue(QR’ million) (QR Billion) • 2024 vs 2025: Group revenue increased, driven by a combination of marginally higher average selling prices and sales volumes. • 3Q-25 vs 4Q-25: Group revenue declined, primarily due to lowe
Slide 16: Net profit variance analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Net profit variance analysis Amounts in QR ‘million FY-24 vs FY-25 Results declined mainly due to higher operating costs, lower investment and other income, and absence of prior-year non-cash one-off gains. On a like-for-like basis, net profit decline was margin
Slide 17: IQ cash flow generation
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ cash flow generation Group continues to generate robust free cash flows despite significant investment in project and routine CAPEX Amounts in QR ‘millions 300. 169 2264-912 Group Cash Group Cash Balance Balance Total Free Cash Flows Generated During the Peri
Slide 18: Robust and Competitive EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Robust and Competitive EBITDA margins Despite the volatile trends in commodity prices, IQ’s EBITDA margins continue to remain robust and competitive 140 60% 51% 52% 53% 120 Oil price (USD/bbl), Brent 50% IQ EBIDTA Margins (%) 45% 45%46% 42% 100 39% 40%41% 41% 41
Slide 19: IQ's Facility Utilization
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ’s Facility Utilization IQ’s plant operating rates continues to remain stable 118% 117% 116% 115% 115% 115% 114% 114% 113% 113% 113% 113% 113% 112% 112% 111% 111% 111% 109% 109% 107% 107% 106% 106% 106% 103% 103% 103% 103% 102% 101% 101% 100% 99% 99% 99% 98% 9
Slide 20: Geographic analysis – IQ Group revenue
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographic analysis – IQ Group revenue Asia remained Group’s largest market Europe 4% Qatar North America Middle East 10% Asia, ex. ISC 11% 25% 18% South America Africa Indian sub-continent 10% 6% 16% 20 Industries Qatar, IR Presentation, YE-25
Slide 21: Segment results
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segment results (For the period ending 31 Dec. 2025) 21 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 21
Slide 22: Segmental Details: Petrochemicals
CLASSIFICATION: C0 - NON-CONFIDENTIAL SegmentalDetails: Segmental Details Petrochemicals • The companies in the Petrochemical segment (Qapco, Qatofin, Qafac and QVC) are engaged in the production of: Product (in 000 MT PA) Capacity1 Ethylene 920 LDPE 600 LLDPE 280 Methanol 500 MTBE 305 Caustic Soda
Slide 23: Results: Petrochemicals – production & selling prices
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Analysis of production & selling prices ▪ Production: Production volumes marginally declined, as the segment has marginally lower plant availability compared to last year due to planned and unplanned shutdowns. ▪ Production volumes declin
Slide 24: Results: Petrochemicals – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Analysis of segment revenue & net profit ▪ Revenue: declined marginally year-on-year, primarily due to lower sales volumes—driven by demand- supply imbalances—and a reduction in average realized prices; ▪ Revenue for the current quarter d
Slide 25: Results: Petrochemicals – EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Analysis of segment EBITDA margins Segment’s EBITDA margins reflect challenging macroeconomic and 1200 operating environment 70% 58% 49% 1000 54% 60% 53% 45% 45% 50% 800 41%40%42% 41% 39% 38%39% 36% 40% 600 32% 32% 31% 1,017 28% 983 30% 2
Slide 26: Results: Petrochemicals – geographical analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Geographical analysis of segment revenue ▪ Asia (including ISC, Qatar & Middle East) remains a main market for IQ for Polyethylene (LDPE and LLDPE) and MTBE. 2025 Segment Revenue (%) 2024 Segment Revenue (%) 11% 13% 33% 16% 37% 16% 7% 8%
Slide 27: Results: Petrochemicals – key products analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Key segment products analysis LDPE LLDPE 1,123 1,069 1,144 1,1071,1101,100 1,064 948 1,017 1,038 1,081 997 1,005 1,012 920 950 964 943 970 921 928 922 886 821 159 166 155 144 146 159 153 173 160 157 155 159 63 76 73 66 84 73 82 64 65 47 5
Slide 28: Segmental Details: Fertilizers
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Fertilizers • Qatar Fertiliser Company has six ammonia and six urea production trains all of which are in Qatar. Product (in 000 MT PA) Capacity Ammonia 3,840 Urea 5,957 Melamine 60 Total 9,857 • The segment’s primary feedstock is methane gas
Slide 29: Results: Fertilizers – production & selling prices
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Analysis of production & selling prices ▪ Production: Production volumes marginally down compared to same period last year, mainly on account of higher number of shutdown days. ▪ Production stabilized quarter-on-quarter, supported by stable
Slide 30: Results: Fertilizers – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Analysis of segment revenue & net profit ▪ Revenue: Increased compared to last year, due to improved selling prices which was partially offset by lower sales volumes. ▪ Declined versus the previous quarter owing to lower selling price partia
Slide 31: Results: Fertilizers – EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Analysis of segment EBITDA margins Segment’s EBITDA margins continue to remain resilient and robust 3000 80% 68% 70% 2500 53%53% 57% 55% 60% 50% 2000 46% 48%46%49% 43% 44%44%44% 50% 41% 40% 35% 35% 37% 1500 40% 2,546 31% 2,004 30% 1,821 1000
Slide 32: Results: Fertilizers – geographical analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Geographical analysis of segment revenue ▪ Asia is a key market for fertilizers along with America’s. 2025 Segment Revenue (%) 2024 Segment Revenue (%) 22% 18% 31% 40% 24% 22% 4% 1% 5% 14% 10% 9% Asia, ex. ISC Africa South America Indian sub
Slide 33: Results: Fertilizers – key products analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Key segment products analysis Urea 1,542 1,532 1,482 1,423 1,479 1,288 1,365 1,254 1,375 1,280 1,235 1,361 352 354 342 343 330 339 380 375 448 375 286 291 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 3Q-24 4Q-24 1Q-25 2Q-25 3Q-25 4Q-25 Sales volumes
Slide 34: Segmental Details: Steel
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Steel • Qatar Steel Company Q.S.C. produces a wide range of intermediate steel products together with long steel. The production capacity of the plants are: Product (in 000 MT PA) Capacity DRI / HBI 2,300 Billets 1,850 Rebar 1,700 Coil 240 Tot
Slide 35: Results: Steel – production & selling prices
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Steel Analysis of production & selling prices ▪ Production: Production has increased significantly versus last year primarily due to higher available capacity (due to restart of mothballed facilities), despite challenging demand conditions; ▪ Production
Slide 36: Results: Steel – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Analysis of segment Results: Steel revenue & net profit ▪ Revenue: Up compared to the same period last year, as reduction in average selling price was fully offset by the gain in sales volume amid the restart of previously mothballed facilities. ▪ Revenue margin
Slide 37: Results: Steel – EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Steel Analysis of segment EBITDA margins Although fluctuating, segment’s EBITDA margins continues to remain 450 resilient 40% 35% 400 35% 350 28% 30% 24% 24% 25% 300 22% 25% 21% 19% 250 19%18%16% 15% 17% 20% 409 200 16% 13% 15% 14% 13% 12% 13%14% 15% 31
Slide 38: Results: Steel – geographical analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Steel Geographical analysis of segment revenue • Steel segment encountered enormous challenges in 2019 due to global slowdown, challenging market dynamics and abnormal increase in input material cost. • Starting from Q2 2020, the Group decided to tempor
Slide 39: Results: Steel – key products analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Steel Key segment products analysis Rebars 647 640 625 610 623 640 616 628 660 624 626 651 319 341 282 348 317 272 302 294 244 311 280 375 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 3Q-24 4Q-24 1Q-25 2Q-25 3Q-25 4Q-25 Prices and sales volumes have improved on
Slide 40: CAPEX
CLASSIFICATION: C0 - NON-CONFIDENTIAL CAPEX 40 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 40
Slide 41: Capex and Projects (2026-2030)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Capex and Projects (2026-2030) Estimated CAPEX spend of ~QR 10.5Bn over 5 years (2026-2030), average ~QR2Bn annual spend Major CAPEX include investment projects (including balance spending on QAFCO-7, PVC project), turnaround spending, and projects to improve
Slide 42: Blue Ammonia Project
CLASSIFICATION: C0 - NON-CONFIDENTIAL Blue Ammonia is produced when the CO2 Blue Ammonia Project generated during conventional Ammonia production is captured and stored Key Highlights Strategic Partnership with QERS1 Building World’s largest Blue Ammonia facility Product Solar Power certification fr
Slide 43: New PVC Project & QVC restructuring
CLASSIFICATION: C0 - NON-CONFIDENTIAL New PVC Project & QVC restructuring Key Highlights of New PVC project First PVC plant in the State of Qatar Nameplate Construction Source feedstock IQ will fund Total project Project fully (i.e., Vinyl 44.8% of the capacity of completed, cost USD 300 integrated
Slide 44: Dividends and market capitalization
CLASSIFICATION: C0 - NON-CONFIDENTIAL Dividends and market capitalization 44 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 44
Slide 45: Dividends & Market Capitalization
CLASSIFICATION: C0 - NON-CONFIDENTIAL Dividends & Market Capitalization Payout Ratio (%) Dividend per share FY24 FY25 Payout Payout 83% 75% 100% 100% 75% 100% 100%123% 91% 94% 55% 116% 89% 60% 52% 82% 72% 69% 67%68% 70% 55% 80% 80% 54% 54% 40% 1.10 1.10 1.00 0.80 0.85 0.78 0.75 0.70 0.60 0.50 0.50 0
Slide 46: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure 46 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 46
Slide 47: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure Board Structure Governance and Compliance • IQ Board of Directors consists of eight (8) • IQ is firmly committed to implementing the Directors, of whom seven (7) were appointed by principles of good governance set out in the the Special Shar
Slide 48: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure Remuneration Board of Directors Disclosure and Transparency • The Company has developed a periodically revisited • The Board ensures that all disclosures are made in remuneration policy for Board members. The policy accordance with the requi
Slide 49: Sales and Marketing
CLASSIFICATION: C0 - NON-CONFIDENTIAL Sales and Marketing 49 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 49
Slide 50: Sales and Marketing
CLASSIFICATION: C0 - NON-CONFIDENTIAL Sales and Marketing • Qatar Chemical and Petrochemical Marketing and Distribution Company Q.J.S.C. (“Muntajat”), a wholly-owned company of the government of the State of Qatar, has the exclusive rights to purchase, market, sell and distribute the State’s product
Slide 51: For further information, Industries Qatar can be contacted
CLASSIFICATION: C0 - NON-CONFIDENTIAL For further information, Industries Qatar can be contacted as follows: Telephone: (974) 4013 2080 Fax: (974) 4013 9750 Email: iq.investorrelations@qatarenergy.qa or iq@qatarenergy.qa Address: PO Box 3212, Doha, State of Qatar Please refer to www.iq.com.qa for th