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Qatar Navigation Qsc — Qatar Navigation Q.P.S.C. (Milaha) — Q1 2024 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, May 1, 2024
Slide 1: Q1 2024 Financial Summary Conference Call
Q1 2024 Financial Summary Conference Call Doha, Qatar May 1, 2024
Slide 2: Consolidated Income Statement – Q1
Consolidated Income Statement – Q1 (All amounts in QR Millions) 2022 2023 2024 Operating Revenue 913 766 747 Salaries, Wages and Other Benefits (155) (139) (173) Revenue -3% Operating Supplies and Expenses (415) (306) (236) Rent Expenses (2) (3) (2) Operating Profit before Impairments -1% Depreciati
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 – Q1
Net Profit, by Segment – Q1 (All amounts in QR Millions) Unfavorable Favorable +19% %’s shown vs 2023 186 164 156 +12% 134 119 102 88 -5% 67 63 -174% -247% 19 8 3 (4) (14) (2) Maritime & Offshore Gas & Petrochem Trading Capital Logistics 2022 2023 2024 4
Slide 5: Statement of Income, by Segment – Q1 2024
Statement of Income, by Segment – Q1 2024 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 165 373 63 47 169 - (70) 747 Salaries, Wages & Benefits (74) (45) (8) (7) (3) (36) - (173) Operating
Slide 6: Statement of Income, by Segment – Q1 2023
Statement of Income, by Segment – Q1 2023 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 215 340 57 58 172 0 (76) 766 Salaries, Wages & Benefits (67) (30) (7) (3) (5) (28) - (139) Operating
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – Q1 (All amounts in QR Millions) Maritime & Logistics 2022 2023 2024 23% Decrease in Revenue and 174% Decrease in Net Profit Operating Revenue 366 215 165 o Operating Revenue decreased QR (49)m Salaries, Wages and Other Benefits (87) (67) (74) • -21m Container Shipping driven by
Slide 8: Segment Performance – Offshore Marine
Segment Performance – Q1 (All amounts in QR Millions) Offshore Marine 2022 2023 2024 10% Increase in Revenue and 5% Decrease in Net Profit Operating Revenue 290 340 373 o Operating Revenue increased QR 33m • +18m Services and +10m Vessel Chartering increases driven by higher Salaries, Wages and Othe
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – Q1 (All amounts in QR Millions) Gas & Petrochem 2022 2023 2024 10% Increase in Revenue and 19% Increase in Net Profit Operating Revenue 53 57 63 o Operating Revenue increased by QR 6m • 6m increase from LNG Vessels mainly attributable to favorable Salaries, Wages and Other Bene
Slide 10: Segment Performance – Trading
Segment Performance – Q1 (All amounts in QR Millions) Trading 2022 2023 2024 19% Decrease in Revenue and 247% Decrease in bottom line Operating Revenue 67 58 47 o Decreased sales of bunker and heavy equipment Salaries, Wages and Other Benefits (4) (3) (7) Operating Supplies and Expenses (61) (47) (4
Slide 11: Segment Performance – Capital
Segment Performance – Q1 (All amounts in QR Millions) Capital 2022 2023 2024 2% Decrease in Revenue and 12% Increase in Net Profit Operating Revenue 208 172 169 o QR (3)m decrease in Revenue: Salaries, Wages and Other Benefits (3) (5) (3) • -13m decrease in Qatar Quarries gabbro sales Operating Supp
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. ➢Freight Logistics • The unit is faced with a highly competitive and challenging environment; focus is on efficiency gains and stro
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 • Continued focus on yield enhancement of the financial portfolio ➢Stable results expected from our Real Estate holdings 16
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