Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — YTD Sep 2017 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Oct 31, 2017
Slide 1: YTD Sep 2017 Financial Summary Conference Call
YTD Sep 2017 Financial Summary Conference Call October 31, 2017 Doha, Qatar 1
Slide 2: Interim Consolidated Income Statement – YTD Sep
Interim Consolidated Income Statement – YTD Sep (All amounts in QR Millions) 2015 2016 2017 Operating Revenue 2,296 1,990 1,656 Salaries, Wages and Other Benefits (506) (487) (401) Revenue Down (17)% Operating Supplies and Expenses (727) (616) (673) Rent Expenses (13) (12) (10) Operating Profit
Slide 3: Activities by Segment
Activities by Segment Maritime & Gas & Offshore Trading Capital Logistics Petrochem • 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 •
Slide 4: Net Profit, by Segment – YTD Sep
Net Profit, by Segment – YTD Sep (All amounts in QR Millions) %’s shown vs 2016 -39% -46% -12% -315% -45% Unfavorable Favorable 4
Slide 5: Statement of Income, by Segment – YTD Sep 2017
Statement of Income, by Segment – YTD Sep 2017 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 657 350 285 221 340 - (197) 1,656 Salaries, Wages & Benefits (95) (119) (75) (12) (6) (94) - (4
Slide 6: Statement of Income, by Segment – YTD Sep 2016
Statement of Income, by Segment – YTD Sep 2016 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 761 438 350 244 346 - (149) 1,990 Salaries, Wages & Benefits (156) (139) (78) (15) (6) (94) 0 (
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – YTD Sep (All amounts in QR Millions) 2015 2016 2017 14% Decline in Revenue and 12% Decline in Net Profit Operating Revenue 878 761 657 o Large Revenue drop due to change in P&L reporting for Port unit Salaries, Wages and Other Benefits (151) (156) (95) Operating Supplies and Ex
Slide 8: Segment Performance – Offshore
Segment Performance – YTD Sep (All amounts in QR Millions) 20% Decline in Revenue and 315% Decline in Net Profit 2015 2016 2017 Operating Revenue 529 438 350 o Diving and Construction & Maintenance Services revenue declined Salaries, Wages and Other Benefits (174) (139) (119) due to rate & utilizati
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – YTD Sep (All amounts in QR Millions) 2015 2016 2017 19% Decline in Revenue and 39% Decline in Net Profit Operating Revenue 282 350 285 o 1 Gas Carrier working spot jobs, and still looking for long term Salaries, Wages and Other Benefits (63) (78) (75) employment Operating Suppl
Slide 10: Segment Performance – Trading
Segment Performance – YTD Sep (All amounts in QR Millions) 10% Decline in Revenue and 45% Decline in Net Profit 2015 2016 2017 Operating Revenue 330 244 221 o Large drop in sales of heavy equipment tied to infrastructure Salaries, Wages and Other Benefits (14) (15) (12) spending; related Cost of Goo
Slide 11: Segment Performance – Capital
Segment Performance – YTD Sep (All amounts in QR Millions) 2015 2016 2017 2% Decline in Revenue and 46% Decline in Net Profit Operating Revenue 437 346 340 o Increase in sales from Qatar Quarries associate; related Cost of Salaries, Wages and Other Benefits (8) (6) (6) Operating Supplies and Expense
Slide 12: Outlook
Outlook Macro: Expect continued strong TEU volumes through Hamad Port, due to land border closure Expect new and historical container feedering routes to push additional volumes Al Thumama warehouses to open Q4 2017; anticipate gradual buildup of utilization 12
Slide 13: Outlook
Outlook Macro: Global offshore marine market remains depressed. Diligently working on maximizing utilization and improving efficiency. 13
Slide 14: Outlook
Outlook VLGCs: charter rates remain depressed; 1 vessel came off long term charter end of 2016 and 1 in May 2017, with both re-chartered at lower rates; 2 come off charter 2018 Jointly & Fully owned LNG carriers: limited fluctuation versus 2016 due to long term fixed nature of contracts Fully-
Slide 15: Outlook
Outlook Expect a spotty and/or subdued rest-of-year 15
Slide 16: Outlook
Outlook Listed portfolio performance strongly correlated to Qatar Exchange performance and volatility 16
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