Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — YTD Q3 2024 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Oct 24, 2024
Slide 1: YTD Q3 2024 Financial Summary Conference Call
YTD Q3 2024 Financial Summary Conference Call Doha, Qatar Oct 24, 2024
Slide 2: Consolidated Income Statement – YTD Q3
Consolidated Income Statement – YTD Q3 (All amounts in QR Millions) 2022 2023 2024 Operating Revenue 2,563 2,227 2,131 Salaries, Wages and Other Benefits (472) (469) (528) Revenue -4% Operating Supplies and Expenses (1,237) (964) (766) Rent Expenses (6) (8) (5) Operating Profit before Impairments 10
Slide 3: Activities by Segment
Activities by Segment • Port Services • Vessel Charter & • LNG Transport • Heavy Equipment • Real Estate Operations and Truck Agency Development and • Container Shipping • LPG Transport Management • Subsea Services • Bunker Distribution • Warehousing & • Floating Storage and • Strategic and Logistic
Slide 4: Net Profit, by Segment – YTD Q3
Net Profit, by Segment – YTD Q3 (All amounts in QR Millions) Unfavorable Favorable +6% %’s shown vs 2023 537 506 469 +25% 254 -13% 252 201 148 169 -1000% +13% 68 66 (6) (7) (13) (6) 0 Maritime & Offshore Gas & Petrochem Trading Capital Logistics 2022 2023 2024 4
Slide 5: Statement of Income, by Segment – YTD Q3 2024
Statement of Income, by Segment – YTD Q3 2024 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 620 1,062 183 152 349 - (233) 2,131 Salaries, Wages & Benefits (230) (133) (23) (20) (10) (112)
Slide 6: Statement of Income, by Segment – YTD Q3 2023
Statement of Income, by Segment – YTD Q3 2023 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 618 1,112 179 188 357 - (227) 2,227 Salaries, Wages & Benefits (210) (112) (22) (13) (16) (97) -
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – YTD Q3 (All amounts in QR Millions) Maritime & Logistics 2022 2023 2024 Flat Revenue and 13% Decrease in Net Profit Operating Revenue 1,094 618 620 o Operating Revenue increased QR 2m • +22m Shipyard coming from increased project work Salaries, Wages and Other Benefits (261) (2
Slide 8: Segment Performance – Offshore & Marine
Segment Performance – YTD Q3 (All amounts in QR Millions) Offshore & Marine 2022 2023 2024 5% Decrease in Revenue and 13% Decrease in Net Profit Operating Revenue 909 1,112 1,062 o Operating Revenue decreased QR (51)m • +12m Industrial Logistics (transferred to Offshore & Marine from Maritime Salari
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – YTD Q3 (All amounts in QR Millions) Gas & Petrochem 2022 2023 2024 2% Increase in Revenue and 6% Increase in Net Profit Operating Revenue 160 179 183 o Operating Revenue increased by QR 3m Salaries, Wages and Other Benefits (17) (22) (23) o Operating Expenses are up QR (6)m Ope
Slide 10: Segment Performance – Trading
Segment Performance – YTD Q3 (All amounts in QR Millions) Trading 2022 2023 2024 19% Decrease in Revenue and +1000% Decrease in bottom Operating Revenue 244 188 152 line Salaries, Wages and Other Benefits (12) (13) (20) o Across the board decreased sales; increased SG&A overheads Operating Supplies
Slide 11: Segment Performance – Capital
Segment Performance – YTD Q3 (All amounts in QR Millions) Capital 2022 2023 2024 2% Decrease in Revenue and 25% Increase in Net Profit Operating Revenue 425 357 349 o QR (8)m decrease in Revenue: Salaries, Wages and Other Benefits (9) (16) (10) • -50m decrease in Qatar Quarries gabbro sales Operatin
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • Shipping rates are expected to remain under pressure, especially with the expected new vessel capacity coming online; new services ex-China have and are expected to continue to provide some uplift ➢Freight Logistics • The unit is faced with a highly
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels / Services • Expect to see steady strong performance on the back of strong Oil & Gas activities in Qatar and from our continued focus on scaling up specialized subsea services and MMO (Maintenance, Modification & Operations) ➢Harbor Operations • Expe
Slide 14: Outlook – Gas & Petrochem
Outlook Gas & Petrochem ➢Jointly & Fully owned LNG carriers • Stable earnings due to long term fixed nature of contracts ➢1 Fully-owned FSO • Asset is employed on a long-term contract so expect stable earnings ➢Results from Associates • Expect stable growth from our Nakilat stake ➢Gulf LPG VLGC Join
Slide 15: Outlook – Trading
Outlook Trading ➢Continued focus on the growth of ship chandlering and other marine services ➢Focus on margin improvement across the segment 15
Slide 16: Outlook – Capital
Outlook Capital ➢Limited Investments volatility • Stable results and continued focus on yield enhancement of the financial portfolio ➢Stable results expected from our Real Estate holdings 16
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