Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Milaha — Q3 2023 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Oct 23, 2023
Slide 1: YTD Q3 2023 Financial Summary Conference Call
YTD Q3 2023 Financial Summary Conference Call Doha, Qatar October 23, 2023
Slide 2: Consolidated Income Statement – YTD Q3
Consolidated Income Statement – YTD Q3 (All amounts in QR Millions) 2021 2022 2023 Operating Revenue 2,035 2,563 2,227 Salaries, Wages and Other Benefits (454) (472) (469) Revenue -13% Operating Supplies and Expenses (942) (1,237) (964) Rent Expenses (5) (6) (8) Operating Profit before Impairments -
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 • Floating Storage and • Strategic and
Slide 4: Net Profit, by Segment – YTD Q3
Net Profit, by Segment – YTD Q3 (All amounts in QR Millions) Unfavorable Favorable +8% %’s shown vs 2022 506 469 412 +197% 254 +132% 201 153 128 139 -96% +101% 68 9 66 0 (18) (6) (6) Maritime & Logistics Offshore Gas & Petrochem Trading Capital 2021 2022 2023 4
Slide 5: Statement of Income, by Segment – YTD Q3 2023
Statement of Income, by Segment – YTD Q3 2023 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 717 1,013 179 188 357 - (227) 2,227 Salaries, Wages & Benefits (248) (74) (22) (13) (16) (97) -
Slide 6: Statement of Income, by Segment – YTD Q3 2022
Statement of Income, by Segment – YTD Q3 2022 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 1,094 909 160 244 425 - (268) 2,563 Salaries, Wages & Benefits (261) (68) (17) (12) (9) (104) -
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – YTD Q3 (All amounts in QR Millions) Maritime & Logistics 2021 2022 2023 34% Decrease in Revenue and 96% Decrease in Net Profit Operating Revenue 787 1,094 717 o Operating Revenue decreased QR (377)m Salaries, Wages and Other Benefits (268) (261) (248) • Container shipping rates
Slide 8: Segment Performance – Offshore Marine
Segment Performance – YTD Q3 (All amounts in QR Millions) Offshore Marine 2021 2022 2023 12% Increase in Revenue and 132% Increase in Net Profit Operating Revenue 702 909 1,013 o Operating Revenue increased QR 105m Salaries, Wages and Other Benefits (60) (68) (74) • Higher project income/margins and
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – YTD Q3 (All amounts in QR Millions) Gas & Petrochem 2021 2022 2023 12% Increase in Revenue and 8% Increase in Net Profit Operating Revenue 197 160 179 o Operating Revenue increased by QR 20m Salaries, Wages and Other Benefits (16) (17) (22) • Revenue increase from FSO (which be
Slide 10: Segment Performance – Trading
Segment Performance – YTD Q3 (All amounts in QR Millions) Trading 2021 2022 2023 23% Decrease in Revenue and 101% Increase in bottom line Operating Revenue 249 244 188 o Decreased sales of bunker and heavy equipment were more than offset Salaries, Wages and Other Benefits (9) (12) (13) by higher mar
Slide 11: Segment Performance – Capital
Segment Performance – YTD Q3 (All amounts in QR Millions) Capital 2021 2022 2023 16% Decrease in Revenue and 197% Increase in Net Profit Operating Revenue 304 425 357 o QR (68)m decrease in Revenue: Salaries, Wages and Other Benefits (8) (9) (16) • -97m decrease in Qatar Quarries gabbro sales Operat
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • Year-to-date Q3 reflected a large drop in container shipping rates, and we expect rates to continue being under pressure due to depressed global demand and expected new vessel capacity coming online ➢Logistics • The unit remains under pressure, and
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels / Services • Expect to see steady strong performance on the back of strong Oil & Gas activities in Qatar and from our continued focus on scaling up specialized subsea services and MMO (Maintenance, Modification & Operations) ➢Harbor Operations • Expe
Slide 14: Outlook – Gas & Petrochem
Outlook Gas & Petrochem ➢Jointly & Fully owned LNG carriers • Stable earnings due to long term fixed nature of contracts ➢1 Fully-owned FSO • Asset is employed on a long-term contract so expect stable earnings ➢Results from Associates • Expect stable growth from our Nakilat stake ➢Gulf LPG VLGC Join
Slide 15: Outlook – Trading
Outlook Trading ➢Continued focus on the growth of ship chandlering and other marine services ➢Focus on margin improvement across the segment 15
Slide 16: Outlook – Capital
Outlook Capital ➢Limited Investments volatility • Continued focus on yield enhancement of the financial portfolio ➢Stable results expected from our Real Estate holdings 16