Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — YTD Sep 2020 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Oct 26, 2020
Slide 1: YTD Sep 2020 Financial Summary Conference Call
YTD Sep 2020 Financial Summary Conference Call Doha, Qatar October 26, 2020
Slide 2: Consolidated Income Statement – YTD Sep
Consolidated Income Statement – YTD Sep (All amounts in QR Millions) 2018 2019 2020 Operating Revenue 1,810 1,835 1,712 Salaries, Wages and Other Benefits (421) (442) (429) Revenue -7% Operating Supplies and Expenses (689) (728) (589) Rent Expenses (12) (7) (2) Operating Profit 2% 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 Sep
Net Profit, by Segment – YTD Sep (All amounts in QR Millions) 44% %’s shown vs 2019 -56% -28% -7% -19% Unfavorable Favorable 4
Slide 5: Statement of Income, by Segment – YTD Sep 2020
Statement of Income, by Segment – YTD Sep 2020 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 634 581 237 127 318 (0) (184) 1,712 Salaries, Wages & Benefits (244) (56) (20) (9) (6) (94) - (
Slide 6: Statement of Income, by Segment – YTD Sep 2019
Statement of Income, by Segment – YTD Sep 2019 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 696 567 208 200 383 - (219) 1,835 Salaries, Wages & Benefits (261) (54) (20) (12) (5) (91) - (4
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – YTD Sep (All amounts in QR Millions) Maritime & Logistics 2018 2019 2020 9% Decrease in Revenue and 28% decline in Net Profit Operating Revenue 678 696 634 o Revenue decrease primarily from Container Shipping (incl Bulk) & Logistics unit Salaries, Wages and Other Benefits (238)
Slide 8: Segment Performance – Offshore Marine
Segment Performance – YTD Sep (All amounts in QR Millions) Offshore Marine 2% Increase in Revenue and 7% Increase in Bottom Line 2018 2019 2020 Operating Revenue 449 567 581 o Revenue increase coming from Vessel Chartering • YTD average utilization for regional fleet decreased slightly from Salaries
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – YTD Sep (All amounts in QR Millions) Gas & Petrochem 2018 2019 2020 14% Increase in Revenue and 44% Increase in Net Profit Operating Revenue 218 208 237 o Revenue increased by QR 22m Salaries, Wages and Other Benefits (20) (20) (20) • LNG Vessels increased by 9m driven by highe
Slide 10: Segment Performance – Trading
Segment Performance – YTD Sep (All amounts in QR Millions) Trading 2018 2019 2020 37% Decline in Revenue and 19% Decline in bottom line Operating Revenue 229 200 127 o Lower sales in all units led to an increase in net loss Salaries, Wages and Other Benefits (12) (12) (9) Operating Supplies and Expe
Slide 11: Segment Performance – Capital
Segment Performance – YTD Sep (All amounts in QR Millions) Capital 2018 2019 2020 17% Decline in Revenue and 56% Decline in Net Profit Operating Revenue 438 383 318 o QR (65)M decrease in Revenue split: Salaries, Wages and Other Benefits (6) (5) (6) • (6)m decrease in dividend income Operating Suppl
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢QTerminals • Expect volume stability/increase at Hamad port for rest of year ➢Container Shipping • The impact of COVID19 on both supply and demand is stabilizing so barring anything unforeseen, we expect stable volumes/revenue. ➢Logistics • Utilization continues to incr
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels • Outlook for the rest of the year is expected to be stable. Vessel offhires due to COVID19 have been minimal and mitigated but are difficult to predict going forward. ➢Harbor Operations • Expect stable revenue throughout the year 13
Slide 14: Outlook – Gas & Petrochem
Outlook Gas & Petrochem ➢VLGCs: • Charter rates extremely volatile but have thus far been positive; outlook unpredictable ➢Jointly & Fully owned LNG carriers • Fairly stable earnings due to long term fixed nature of contracts ➢2 Fully-owned product tankers + 1 crude carrier • All trading on spot and
Slide 15: Outlook – Trading
Outlook Trading ➢Expect difficult rest of year as COVID19 has directly and indirectly impacted demand 15
Slide 16: Outlook – Capital
Outlook Capital ➢Limited Investments volatility • Held for Trading Portfolio liquidated ➢Mixed results expected for Real Estate holdings • Much has already been absorbed, and don’t expect much pressure on rental rates rest of year • Navigation Tower lease renewed, albeit at lower rate • New villa co
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