Qatar Navigation Qsc · QSE:QNNS

Qatar Navigation Qsc — Qatar Navigation (Milaha) — Q1 2014 Earnings Presentation

13 slides from Qatar Navigation Qsc's earnings presentation, Apr 30, 2014

  1. Slide 1: 1st Quarter 2014 Financials Conference Call

    1st Quarter 2014 Financials Conference Call Apr 30th, 2014 Doha, Qatar 1

  2. Slide 2: Key Financial Highlights

    Key Financial Highlights Revenue Net Profit (in QR 000's) (in QR 000's) 800,000 400,000 700,000 350,000 600,000 300,000 500,000 250,000 400,000 200,000 300,000 150,000 200,000 100,000 100,000 50,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 2013 2014 2012 2013 2014 Confidential - Not for Distribution 2

  3. Slide 3: Q1 2014 vs Q1 2013

    Q1 2014 vs Q1 2013 (All amounts in QR 000’s, unless otherwise noted) 2014 2013 Variance OPERATING REVENUE 698,676 702,821 (4,145)  Revenue Down -1% Salaries, Wages & Benefits (154,934) (149,536) (5,398) Operating Supplies & Expenses (168,978) (169,507) 529 Rent Expense (14,555) (15,186) 631 Depreci

  4. Slide 4: Pillar Overview

    Pillar Overview  Milaha Maritime & Logistics  Milaha Trading • Port Services • Travel & Tourism • Container Shipping • Equipment Trading Agency • Logistics • Marine Equipment Sales & Service • Bulk Shipping • Bunker Sales • Asset Management • Service/Repair Center • Shipyard • Shipping Agencies 

  5. Slide 5: Consolidated Statement of Income, by Pillar – Q1 2014

    Consolidated Statement of Income, by Pillar – Q1 2014 (All amounts in QR 000’s, unless otherwise noted) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 205,464 119,690 55,033 79,906 290,579 - (51,996) 698,676 - Salaries

  6. Slide 6: Consolidated Statement of Income, by Pillar – Q1 2013

    Consolidated Statement of Income, by Pillar – Q1 2013 (All amounts in QR 000’s, unless otherwise noted) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 216,619 132,187 42,085 74,656 282,168 - (44,895) 702,821 Salaries,

  7. Slide 7: Pillar Performance

    Pillar Performance  -5% Revenue Decline and -45% Net Profit Decline vs 2013 o Revenue decline of QR (11)M driven by: • 6% increased TEU volumes at the Doha Port that boosted revenue • Decrease in export volumes in Container Feedering unit, due to plant shutdown of major client, lowered revenue • De

  8. Slide 8: Pillar Performance

    Pillar Performance  -9% Decline in Revenues and -53%  31% Growth in Revenues and 40% Growth in Decline in Net Profit vs 2013 Net Profit vs 2013 o Mostly attributable to Diving o Operating Revenue up from harbor vessels that Operations due to perfect storm of we have been taking possession througho

  9. Slide 9: Pillar Performance

    Pillar Performance  7% Growth in Revenues and 29%  3% Growth in Revenues and 5% Growth Growth in Net Profit vs 2013 in Net Profit vs 2013 o Revenue growth driven by Bunker Sales o QR (30)M – in Q1 2013, we recorded Unit gain on sale of AFS investments which did not recur in 2014 o QR (4)M - Qatar

  10. Slide 10: Outlook

    Outlook  Infrastructure ramp up continues in Qatar in lead up to 2022 World Cup  Increased project support requirements and import volumes expected, however cautious regarding sustained ramp up of seaborne imports  Plants shut down in Mesaieed Industrial City in Q1 back in operation  Expect expo

  11. Slide 11: Outlook

    Outlook  Expect to take delivery of 8 new vessels between May and November  2 AHT, 2 PSV, 2 CSV, 1 DSV and 1 AHTS  Revenue impact for 2014 likely lower than initially expected due to delays in vessel delivery and contract start dates  Strong focus on improving utilisation through spot charters a

  12. Slide 12: Outlook

    Outlook  Limited fluctuation expected in returns from 9 jointly-owned LNG tankers due to long term charters  Healthy, improved year overall expected for 4 jointly-owned VLGCs (strong uptick recently)  Fully-owned product tankers (MR and LR) expected to stay steady in the near term  Similarly, am

  13. Slide 13: Outlook

    Outlook  Strong sales backlog for trucks and heavy  Continued investment in new real estate equipment projects as planned  Expect even stronger Q2/Q3 results  Expect delivery of one commercial real estate  Signing of new corporate client for travel project by year end agency expected to boost r

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