Industries Of Qatar Co. · QSE:IQCD
Industries Of Qatar — Industries Qatar — Q3 2025 Earnings Presentation
50 slides from Industries Of Qatar's earnings presentation, September 2025
Slide 1: Industries Qatar Investor Relations Presentation
CLASSIFICATION: C0 - NON-CONFIDENTIAL Industries Qatar Investor Relations Presentation 30 Sept. 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 30 Sept. 2025) 6. Segment results (For the period ending 30 Sept. 2025) 7. CAPEX 8. Dividends and market capitalization
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 (9M-25)
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ business segments at glance (9M-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 43.7 Peer 1 73 Peer 2 21.2 IQ 11 IQ ranks #2 IQCD 20.5 IQ ranks #3 Peer 2 9 Peer 3 13.6 Peer 3 7 Peer 4 5.4 Peer 4 6 Note: Data as of June-25 Note: Data a
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 faced persistent challenges in 9M- LDPE ($/MT) 2025, including soft demand, overcapacity and volatile feedstock 1650 LLDPE ($/MT) costs. Industrial activity and consumer spending remained 1450 sub
Slide 13: Group results (For the period ending 30 Sept 2025)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Group results (For the period ending 30 Sept 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) • 9M-24 vs 9M-25: Production volumes marginally increased year-on-year, despite planned and unplanned shutdowns. The rise was mainly driven by higher production from the steel segment, which
Slide 15: Financial performance review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Financial performance review Revenue Revenue(QR’ million) (QR Billion) • 9M-24 vs 9M-25: Group revenue increased marginally, driven by a combination of slightly higher average selling prices and improved sales volumes. • 2Q-25 vs 3Q-25: Group revenue rose, suppo
Slide 16: Net profit variance analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Net profit variance analysis Amounts in QR ‘million 9M-24 vs 9M-25 Results declined mainly due to the absence of prior-year non-cash one-off gains. On a like-for-like basis, net profit decline was marginal. 2Q-25 vs 3Q-25 Net profit improved significantly versus
Slide 17: IQ cash flow generation
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ cash flow generation Group continues to generate adequate free cash flows despite significant investment in new and sustainability CAPEX Amounts in QR ‘millions 300. 169 Proportionate Proportionate Basis Basis Total Free Cash Flows Generated During the Period
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% 52% 53% 120 51% Oil price (USD/bbl), Brent 50% IQ EBIDTA Margins (%) 45% 45% 46% 42% 100 39% 40% 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% 112% 112% 111% 111% 107% 107% 106% 106% 106% 103% 103% 103% 103% 102% 101% 101% 100% 99% 99% 99% 98% 98% 97% 97% 97% 96% 9
Slide 20: Geographic analysis – IQ Group revenue
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographic analysis – IQ Group revenue Asia remained Group’s largest market Europe 5% Qatar North America Middle East 10% Asia, ex. ISC 8% 21% 20% South America Africa Indian sub-continent 12% 7% 17% 20 Industries Qatar, IR Presentation, 3Q-25
Slide 21: Segment results (For the period ending 30 Sept. 2025)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segment results (For the period ending 30 Sept. 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 stabilized in 9M-2025, as fuel addictive segment has marginally lower plant availability compared to last year due to planned and unplanned shutdowns. ▪ Production v
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 slight reduction in average realized prices; ▪ Revenue for the current qu
Slide 25: Results: Petrochemicals – EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Analysis of segment EBITDA margins Segment’s EBITDA margins continue to remain strong amid 1200 challenging macroeconomic and operating environment 70% 58% 49% 1000 54% 60% 53% 47% 45% 45% 50% 44% 800 42% 41%40%42% 41% 39% 38%39% 36% 40%
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. 9M-25 Segment Revenue (%) 9M-24 Segment Revenue (%) 11% 1% 13% 31% 36% 17% 17% 7
Slide 27: Results: Petrochemicals – key segment products
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Key segment products analysis LDPE LLDPE 948 1,017 1,038 1,081 1,144 1,107 1,110 1,100 1,064 950 964 943 970 928 920 921 922 886 155 144 146 159 153 173 160 157 155 84 82 73 66 47 73 64 54 65 Q3-23 Q4-23 1Q-24 2Q-24 3Q-24 4Q-24 1Q-25 2Q-2
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 improved quarter-on-quarter, supported by better pl
Slide 30: Results: Fertilizers – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Analysis of segment revenue & net profit ▪ Revenue: Increased compared to the same period last year, due to improved selling prices which was partially offset by lower sales volumes. ▪ Notable improved versus the previous quarter owing to mo
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% 49% 50% 2000 47% 46% 48%46%49% 44% 43% 44%44%44% 50% 41% 35% 35% 37% 1500 40% 2,546 31% 2,004 30
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. 9M-25 Segment Revenue (%) 9M-24 Segment Revenue (%) 0% 21% 27% 31% 40% 24% 5% 18% 1% 1% 14% 9% 9% Asia, ex. ISC Africa South America Indian
Slide 33: Results: Fertilizers – key segment products
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Key segment products analysis Urea 1,405 1,433 1,542 1,532 1,482 1,423 1,288 1,365 1,254 1,375 1,280 1,235 1,361 531 579 448 352 286 354 342 343 291 330 339 380 375 3Q-22 4Q-22 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 3Q-24 4Q-24 1Q-25 2Q-25 3Q-2
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 same period of last year primarily due to higher available capacity (due to restart of mothballed facilities), despite challenging demand condition
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% 17% 20% 409 200 16% 13% 15% 13% 14% 13%14% 313 12% 15% 30
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 segment products
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Steel Key segment products analysis Rebars 625 610 623 640 616 628 660 624 626 282 348 317 272 302 294 244 311 280 3Q-23 4Q-23 1Q-24 2Q-24 3Q-24 4Q-24 1Q-25 2Q-25 3Q-25 Prices have stabilized on quarterly basis, whilst sales volumes have declined modera
Slide 40: CAPEX
CLASSIFICATION: C0 - NON-CONFIDENTIAL CAPEX 40 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 40
Slide 41: 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 42: 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 EPC awarded Source feedstock IQ will fund Project fully Construction capacity of valued at (i.e., Vinyl 44.8% of the USD 239 million/ integrated
Slide 43: Dividends and market capitalization
CLASSIFICATION: C0 - NON-CONFIDENTIAL Dividends and market capitalization 43 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 43
Slide 44: Dividends & Market Capitalization
CLASSIFICATION: C0 - NON-CONFIDENTIAL Dividends & Market Capitalization Payout Ratio (%) Dividend per share FY24 83% 75% Payout 100% 75% 100% 100% 91% 94% 89% 60% 55% 82% 123% 80% 52% 72% 69% 67%68% 70% 80% 55% 54% 54% 1.10 1.10 40% 1.00 0.80 0.85 0.78 0.75 0.70 0.60 0.50 0.50 0.55 0.50 0.50 0.43 0.
Slide 45: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure 45 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 45
Slide 46: 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 47: 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 48: Sales and Marketing
CLASSIFICATION: C0 - NON-CONFIDENTIAL Sales and Marketing 48 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 48
Slide 49: 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 50: 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