Gulf International Services Qsc · QSE:GISS
Gulf International Services Qsc — Gulf International Services — Investor Presentation (December 2024)
30 slides from Gulf International Services Qsc's investor presentation, Dec 31, 2024
Slide 1: Gulf International Services Investor Relations Presentation
CLASSIFICATION: C2 - CONFIDENTIAL Gulf International Services Investor Relations Presentation 31 December 2024
Slide 2: Disclaimer
CLASSIFICATION: C2 - CONFIDENTIAL DISCLAIMER The companies in which Gulf International Services Q.P.S.C. directly and indirectly owns investments are separate entities. In this presentation, “GIS” and “the Group” are sometimes used for convenience in reference to Gulf International Services Q.P.S.C.
Slide 3: Table of Content
CLASSIFICATION: C2 - CONFIDENTIAL TABLE OF CONTENT 1. About GIS 2. Group Structure 3. Board of Directors 4. Competitive advantages 5. Results at a Glance (2017 – 2024) 6. Results at a Glance (For the year ended on 31 December 2024) 7. Segmental details 8. Governance structure Gulf International Serv
Slide 4: About GIS
CLASSIFICATION: C2 - CONFIDENTIAL About GIS
Slide 5: About GIS
CLASSIFICATION: C2 - CONFIDENTIAL About GIS • Gulf International Services Q.P.S.C. was • The authorized share capital is QR 2 billion with incorporated as a Qatari joint stock an issued share capital consisting of 1.85 Billion company on February 12, 2008. ordinary shares and 1 special share, with 1
Slide 6: Group Structure
CLASSIFICATION: C2 - CONFIDENTIAL Group Structure • Through group companies, Gulf International Services operates in 3 distinct segments - insurance and reinsurance, drilling and aviation services • QatarEnergy owns 10% of GIS shares, and General Retirement and Social Insurance Authority owns ~21.9%
Slide 7: Board of Directors
CLASSIFICATION: C2 - CONFIDENTIAL Board of Directors The Board of Directors of the group consists of: Sheikh Khalid bin Khalifa Al Thani Chairman Mr. Saad Rashid Al-Muhannadi Dr. Mohammed Youssef Al-Mulla Vice Chairman Member Mr. Ali Jaber Hamad Al-Marri Sheikh Jassim Abdulla Al-Thani Member Member
Slide 8: Competitive Advantages
CLASSIFICATION: C2 - CONFIDENTIAL Competitive Advantages • The only Qatari drilling • Sole provider of oil & gas services provider. helicopter services in Qatar • Maintaining market share of • One of the largest operator over 50% of offshore and the in the MENA. largest market share in the • Modern
Slide 9: Results at a glance (2017-2024)
CLASSIFICATION: C2 - CONFIDENTIAL Results at a glance (2017-2024)
Slide 10: Results at a Glance (2017-2024)
CLASSIFICATION: C2 - CONFIDENTIAL Results at a Glance (2017-2024) Note: CAGR means Compounded Annual Growth Rate Revenue (QR million) Net profit (QR million) • Revenue for 2024 recovered significantly on account of constructive business dynamics with better macroeconomic context • Net profit improve
Slide 11: Results at a glance (For the year ended on 31 December 2024)
CLASSIFICATION: C2 - CONFIDENTIAL Results at a glance (For the year ended on 31 December 2024)
Slide 12: Results at a Glance
CLASSIFICATION: C2 - CONFIDENTIAL Results at a Glance Revenue (QR million) YE-23 vs YE-24: All subsidiaries except for the catering witnessed growth in revenue compared to last year supported by improved day rates, higher asset utilization from drilling segments and higher-flying hours from the avia
Slide 13: Results at a Glance
CLASSIFICATION: C2 - CONFIDENTIAL Results at a Glance Cash Balance (including Short- Term investments - QR million) Cash balance declined compared to last year-end, mainly due to dividends payments for the financial year 2023 as well as the payment of 10% of the total transaction cost with Seadrill.
Slide 14: Net Profit
CLASSIFICATION: C2 - CONFIDENTIAL Net Profit For the year ended on 31 December 2024 Amounts reported in QR’ millions Profitability increased mainly due to improved revenue noted across all the business segments except the catering, in addition to reduction in finance costs on the back of the new deb
Slide 15: Segmental Details (For the year ended on 31 December 2024)
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details (For the year ended on 31 December 2024)
Slide 16: Segmental Details: Drilling Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Drilling Segment ▪ Gulf Drilling International (GDI) incorporated in 2004 as a joint venture between QatarEnergy (60%) and Japan Drilling Company (40%). ▪ In 2014, GIS acquired the remaining stake of GDI, resulting in GDI becoming a wholly owned su
Slide 17: Segmental Details: Drilling Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Drilling Segment Revenue • YE-23 vs YE-24: Revenue growth was predominantly driven by stronger performance in the offshore rigs, lift boat and barge QR million operation. Higher day rates and better utilization of assets played a key role in this p
Slide 18: Segmental Details: Drilling Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Drilling Segment 1 Rig utilization (%) • YE-23 vs YE-24: Rig utilization reached 98%. All rigs and lift boats +8% are currently contracted except one onshore which became off- contract. • 3Q-24 vs 4Q-24: Operating Rig utilization stood at 99%, a ma
Slide 19: Segmental Details: Aviation Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Aviation Segment ▪ Gulf Helicopter Company (GHC) is one of the leading commercial aviation service provider. With global footprints extending from Europe , Africa and Middle East, with a fleet of 65 aircrafts; ▪ GHC has 3 Direct subsidiaries: • Al
Slide 20: Segmental Details: Aviation Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Aviation Segment Revenue • YE-23 vs YE-24: This growth was primarily driven by higher flying hours in both domestic and international operations. In the QR million domestic segment, revenue gains were supported also by the redeployment of aircraft
Slide 21: Segmental Details: Aviation Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Aviation Segment Actual Flying hours • Aviation segment continue to witness improved performance with better flying activity within both domestic and international operations. • Total flying hours increased by 6% on a year-on-year basis, at both th
Slide 22: Segmental Details: Insurance Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Insurance Segment ▪ Alkoot insurance, incorporated in 2003, is mainly engaged in business of medical and general insurance and reinsurance activities, in addition to vehicle insurance & individual insurance against risk of death and accidents. ▪ In
Slide 23: Segmental Details: Insurance Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Insurance Segment Revenue • YE-23 vs YE-24: This upsurge in revenue was primarily attributed QR million to growth in premiums from both general and medical insurance line of business. The increase in revenue was mainly linked to new contracts in th
Slide 24: Segmental Details: Insurance Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Insurance Segment Net claims incurred (QR ‘millions) • YE-23 vs YE-24: On year-on-year basis, net claims incurred increased due to rise in medical claims on the back of new policies added. • 3Q-24 vs 4Q-24: On a quarter-by-quarter basis, net claims
Slide 25: Segmental Details: Catering Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details Catering Segment ▪ Amwaj Catering Services Company, incorporated in 2006 as a wholly-owned subsidiary of QatarEnergy ▪ Amwaj was subsequently acquired by GIS in 2012. ▪ In 2023, post the transaction with Shaqab and Atyab. GIS new ownership in Amwaj
Slide 26: Segmental Details: Catering Segment
CLASSIFICATION: C2 - CONFIDENTIAL Segmental Details For the year ended on 31 December 2024 Catering Segment Revenue/Share of Revenue QR million • YE-23 vs YE-24: Revenue decreased compared to the previous year. last year revenue includes 100% Amwaj ownership. However current year revenue consider 30
Slide 27: Governance Structure
CLASSIFICATION: C2 - CONFIDENTIAL Governance Structure
Slide 28: Governance Structure
CLASSIFICATION: C2 - CONFIDENTIAL Governance Structure Board Structure Governance and Compliance • GIS Board of Directors consists of seven • GIS is firmly committed to implementing the (7) Directors, three (3) Directors of whom principles of good governance set out in the were appointed by the Spec
Slide 29: Governance Structure
CLASSIFICATION: C2 - CONFIDENTIAL Governance Structure Remuneration • Board of Directors Disclosure and Transparency • The Company has developed a periodically • The Board ensures that all disclosures are made in revisited remuneration policy for Board accordance with the requirements set by regulat
Slide 30: Contact information
CLASSIFICATION: C2 - CONFIDENTIAL For further information, Gulf International Services can be contacted as follows: Telephone: (974) 4013 2088 Fax: (974) 4013 9750 Email: gis.investorrelations@qatarenergy.qa or gis@qatarenergy.qa Address: P.O. Box 3212, Doha, State of Qatar Please refer to www.gis.c
Gulf International Services — Investor Presentation (December 2024) on 6ix