Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — Q3 2021 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Oct 28, 2021
Slide 1: YTD Q3 2021 Financial Summary Conference Call
YTD Q3 2021 Financial Summary Conference Call Doha, Qatar October 28, 2021
Slide 2: Consolidated Income Statement – YTD Q3
Consolidated Income Statement – YTD Q3 (All amounts in QR Millions) 2019 2020 2021 Operating Revenue 1,835 1,722 2,035 Salaries, Wages and Other Benefits (442) (429) (454) Revenue 18% Operating Supplies and Expenses (728) (599) (942) Rent Expenses (7) (2) (5) Operating Profit -33% Depreciation and A
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 • Diving & Subsea • Bunker Distribution • Warehousing & Services • Crude , Chemicals & • Strategic and
Slide 4: Net Profit, by Segment – YTD Q3
Net Profit, by Segment – YTD Q3 (All amounts in QR Millions) -7% 441 %’s shown vs 2020 412 306 228 +38% +85% 128 139 96 100 69 +20% +92% (6) (7) (8) Maritime & Logistics Offshore (18) Gas & Petrochem Trading Capital (204) (218) Unfavorable Favorable 2019 2020 2021 4
Slide 5: Statement of Income, by Segment – YTD Q3 2021
Statement of Income, by Segment – YTD Q3 2021 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 787 702 197 249 304 0 (204) 2,035 Salaries, Wages & Benefits (268) (60) (16) (9) (8) (91) - (454
Slide 6: Statement of Income, by Segment – YTD Q3 2020
Statement of Income, by Segment – YTD Q3 2020 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 644 581 237 127 318 (0) (184) 1,722 Salaries, Wages & Benefits (244) (56) (20) (9) (6) (94) - (4
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – YTD Q3 (All amounts in QR Millions) Maritime & Logistics 2019 2020 2021 22% Increase in Revenue and 85% Increase in Net Profit Operating Revenue 696 644 787 o Operating Revenue increased QR 143m • Higher shipping rates boosted Container Shipping Revenue Salaries, Wages and Othe
Slide 8: Segment Performance – Offshore Marine
Segment Performance – YTD Q3 (All amounts in QR Millions) Offshore Marine 2019 2020 2021 21% Increase in Revenue and 92% Increase in Bottom Line Operating Revenue 567 581 702 o Operating Revenue increased QR 77m • Services revenue increased with addition of diving-related projects Salaries, Wages an
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – YTD Q3 (All amounts in QR Millions) Gas & Petrochem 2019 2020 2021 17% Decrease in Revenue and 7% Decrease in Net Profit Operating Revenue 208 237 197 o Operating Revenue decreased by QR (40)m • Tankers decreased by (37)m due plummeting shipping rates Salaries, Wages and Other
Slide 10: Segment Performance – Trading
Segment Performance – YTD Q3 (All amounts in QR Millions) Trading 2019 2020 2021 97% Increase in Revenue and 20% Increase in bottom line Operating Revenue 200 127 249 o Increased sales in all units led to +2m decrease in net loss Salaries, Wages and Other Benefits (12) (9) (9) o Travel & Tourism uni
Slide 11: Segment Performance – Capital
Segment Performance – YTD Q3 (All amounts in QR Millions) Capital 2019 2020 2021 4% Decrease in Revenue and 38% Increase in Net Profit Operating Revenue 383 318 304 o QR (23)M decrease in Revenue: Salaries, Wages and Other Benefits (5) (6) (8) • +28m increase in Qatar Quarries gabbro sales Operating
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • Network optimization efforts are paying off with reduced costs and improved margins • We expect the strong shipping rates we have seen thus far to continue for the rest of the year ➢Logistics • Utilization expected to increase in Milaha Logistics Ci
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels • Optimistic for the rest of year based on pipeline and projects under contract • Vessel offhires due to COVID19 have been sporadic and relatively minimal but are difficult to predict going forward ➢Liftboat • Vessel has been mobilized to Qatar in Q3
Slide 14: Outlook – Gas & Petrochem
Outlook Gas & Petrochem ➢Jointly & Fully owned LNG carriers • Fairly stable earnings due to long term fixed nature of contracts ➢1 Fully-owned product tanker • Sole remaining tanker trading on spot and exposed to market volatility; will be going through an FSO conversion process in Q4 ➢1 Fully-owned
Slide 15: Outlook – Trading
Outlook Trading ➢We expect Q4 to mirror results we have seen earlier in the year 15
Slide 16: Outlook – Capital
Outlook Capital ➢Limited Investments volatility • Held for Trading Portfolio liquidated ➢Stable/upside results expected for Real Estate holdings • Upside revenue from the new villa compound where tenancy contract commenced in Q3 2021 16
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