Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — FY2020 Earnings Presentation
17 slides from Qatar Navigation Qsc's earnings presentation, Feb 25, 2021
Slide 1: FY 2020 Financial Summary Conference Call
FY 2020 Financial Summary Conference Call Doha, Qatar February 25, 2020
Slide 2: Consolidated Income Statement – Full Year
Consolidated Income Statement – Full Year (All amounts in QR Millions) 2018 2019 2020 Operating Revenue 2,420 2,425 2,267 Salaries, Wages and Other Benefits (563) (588) (581) Revenue -6% Operating Supplies and Expenses (941) (1,001) (840) Rent Expenses (15) (7) (5) Operating Profit -1% Depreciation
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 – Full Year
Net Profit, by Segment – Full Year (All amounts in QR Millions) %’s shown vs 2019 -1% -49% -10% -174% -2% Unfavorable Favorable 4
Slide 5: Statement of Income, by Segment – FY 2020
Statement of Income, by Segment – FY 2020 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 861 762 298 165 413 0 (231) 2,267 Salaries, Wages & Benefits (338) (73) (27) (12) (8) (122) - (581)
Slide 6: Statement of Income, by Segment – FY 2019
Statement of Income, by Segment – FY 2019 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 953 752 288 251 465 - (286) 2,425 Salaries, Wages & Benefits (347) (71) (26) (16) (7) (121) - (588)
Slide 7: EBITDA and EBITDA margins – FY 2016 - 2020
EBITDA and EBITDA margins – FY 2016 - 2020 (All amounts in QR Millions) EBITDA 1. EBITDA is calculated as Earnings (Net Profit Attributable to Equity Holders) + Net Finance Expense + Taxes + Depr & Amort + Impairment of Vessels + Impairment on Available for Sale Financial Assets 2. Other (Income) /
Slide 8: Segment Performance – Maritime & Logistics
Segment Performance – Full Year (All amounts in QR Millions) Maritime & Logistics 2018 2019 2020 10% Decrease in Revenue and 10% Decrease in Net Profit Operating Revenue 904 953 861 o Revenue decrease primarily from Container Shipping (incl Bulk) & Logistics unit Salaries, Wages and Other Benefits (
Slide 9: Segment Performance – Offshore Marine
Segment Performance – Full Year (All amounts in QR Millions) Offshore Marine 1% Increase in Revenue and 174% Decrease in Bottom Line 2018 2019 2020 Operating Revenue 666 752 762 o Revenue increase coming from Vessel Chartering • Increase in 3rd party chartered-in vessel revenue + the addition of 1 S
Slide 10: Segment Performance – Gas & Petrochem
Segment Performance – Full Year (All amounts in QR Millions) Gas & Petrochem 2018 2019 2020 3% Increase in Revenue and 1% Decrease in Net Profit Operating Revenue 299 288 298 o Revenue increased by QR 10m • LNG Vessels increased by 9m driven by higher utilization due to a Salaries, Wages and Other B
Slide 11: Segment Performance – Trading
Segment Performance – Full Year (All amounts in QR Millions) Trading 2018 2019 2020 34% Decrease in Revenue and 2% Decrease in bottom line Operating Revenue 297 251 165 o Lower sales in all units led to 200k increase in net loss Salaries, Wages and Other Benefits (15) (16) (12) Operating Supplies an
Slide 12: Segment Performance – Capital
Segment Performance – Full Year (All amounts in QR Millions) Capital 2018 2019 2020 11% Decrease in Revenue and 49% Decrease in Net Profit Operating Revenue 517 465 413 o QR (52)M decrease in Revenue: Salaries, Wages and Other Benefits (8) (7) (8) • +12m higher bond income Operating Supplies and Exp
Slide 13: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢QTerminals • Expect volume stability/increase at Hamad port ➢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 increase in Milaha Lo
Slide 14: 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 14
Slide 15: Outlook – Gas & Petrochem
Outlook Gas & Petrochem ➢VLGCs: • Charter rates extremely volatile and 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 exposed to market volatility
Slide 16: Outlook – Trading
Outlook Trading ➢Cautiously optimistic as tender and RFQ volumes have increased substantially 16
Slide 17: Outlook – Capital
Outlook Capital ➢Limited Investments volatility • Held for Trading Portfolio liquidated ➢Stable/upside results expected for Real Estate holdings • Real Estate income expected to remain stable with Q4 run rate, except for upside revenue in the new villa compound where a tenancy contract has been sign
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