Gulf International Services Qsc · QSE:GISS
Gulf International Services Qsc — Gulf International Services — 9M 2020 Earnings Presentation
33 slides from Gulf International Services Qsc's earnings presentation, Sep 30, 2020
Slide 1: Gulf International Services Investor Relations Presentation
Gulf International Services Investor Relations Presentation 30 September 2020
Slide 2: Disclaimer
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. This presentation may contain for
Slide 3: Table of Content
TABLE OF CONTENT 1. About GIS 2. Group Structure 3. Board of Directors 4. Competitive advantages 5. Results at a Glance (2013 – 2019) 6. Results at a Glance (For period ended 30 September 2020) 7. Segmental details 8. Optimization updates 9. Governance structure Gulf International Services, Investor
Slide 4: About GIS
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Slide 5: About GIS
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 49% of the market capitalization as
Slide 6: Group Structure
Group Structure • Through group companies, Gulf International Services operates in four distinct segments - insurance and reinsurance, drilling, helicopter transportation and catering services. • Qatar Petroleum owns 10% of GIS shares, and General Retirement and Social Insurance Authority owns ~22.4
Slide 7: Board of Directors
Board of Directors The Board of Directors of the group consists of: Sheikh Khalid Khalifa Al Thani Chairman Mr. Ali Jaber Hamad Al-Marri Vice Chairman Mr. Ghanim Mohammed Al Kuwari Member Mr. Saad Rashid Al-Muhannadi Member Sheikh Jassim Abdulla Al-Thani Member Gulf International Services, Investor
Slide 8: Competitive Advantages
Competitive Advantages • The only Qatari drilling • Sole provider of oil & gas services provider in Qatar. helicopter services in Qatar • Maintaining market share of • One of the largest operator over 50% of offshore and in the MENA. 100% on shore oil & gas • Modern and well maintained drilling serv
Slide 9: Results at a glance (2013-2019)
Results at a glance (2013-2019)
Slide 10: Results at a Glance (2013-2019)
Results at a Glance (2013-2019) Revenue (QR million) Net profit (QR million) Revenue peaked in 2015 with overall movement in line with crude oil prices • Net profit dropped after the peak due to increase in financing costs • Total Assets increased in 2014 due to the acquisition of 30% of GDI • Total
Slide 11: Results at a glance (For 2020)
Results at a glance (For the period ended 30 September 2020)
Slide 12: Results at a Glance - For 2020
Results at a Glance For the period ended 30 September 2020 Revenue (QR million) 9M-20 vs 9M-19: Revenue growth amid capturing growth opportunities, expanding market share and major renewals of contracts across all segments, except for drilling. Q3-20 vs Q2-20: Decline in revenue, mainly due to macro
Slide 13: Results at a Glance - For 2020
Results at a Glance For the period ended 30 September 2020 Cash Balance (including Short- Term investments - QR million) 9108 Cash balance slightly decreased compared to last year, mainly to lesser drawdowns and repayment of loan. Total Debt (QR million) Total debt witnessed a decline, mainly due to
Slide 14: Net Profit
Net Profit For the period ended 30 September 2020 Amounts reported in QR’ millions o Revenue: Increased compared to last year by 1%. All o G&A Expenses: Increased by 8% mainly due to increase segments reported a positive variance, with exception of in G&A expenses relating to aviation segment, in re
Slide 15: Segmental Details
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Slide 16: Drilling Segment
Segmental Details Drilling Segment Gulf Drilling International (GDI) incorporated in 2004 as a joint venture between Qatar Petroleum (60%) and Japan Drilling Company (40%). In 2014, GIS acquired the remaining stake of GDI, resulting in GDI becoming a wholly owned subsidiary of GIS. GDI is a wo
Slide 17: Drilling Segment - For 2020
Segmental Details For the period ended 30 September 2020 Drilling Segment • 9M-20 revenue of QR 723 million, down by 19% on 9M-19, mainly Revenue due to premature rig suspension within the on-shore fleet, amid COVID-19 pandemic. However, the suspension is only for a QR million temporary period and t
Slide 18: Drilling Segment - Rig utilization and revenue mix
Segmental Details For the period ended 30 September 2020 Drilling Segment Rig utilization (%) • Rig utilization remained depressed, mainly due to GDI 3 and Msherib being off contract since last year, in addition to Al-Safliya from this year. Revenue Mix • Offshore operations continue to contribute s
Slide 19: Aviation Segment
Segmental Details Aviation Segment Gulf Helicopter Company (GHC) is one of the leading commercial aviation service provider. With global footprints extending from Europe , Africa, Middle East, and South Asia with a fleet of 55 aircrafts; GHC has 3 Direct subsidiaries: • Al Maha Aviation Company:
Slide 20: Aviation Segment - For 2020
Segmental Details For the period ended 30 September 2020 Aviation Segment • 9M-20 revenue, up by 13% on 9M-19 as the revenue across all the aviation business segments reported a positive variance. The domestic Revenue segment was successful in revising contract rates effective from the year 2018 boo
Slide 21: Aviation Segment - Flying hours and revenue mix
Segmental Details For the period ended 30 September 2020 Aviation Segment • Flying hours for the aviation segment declined significantly, Actual Flying hours year-on-year basis, domestically and internationally, mainly due to the outbreak of COVID-19 pandemic, especially in the months of April and M
Slide 22: Insurance Segment
Segmental Details Insurance Segment Alkoot insurance, incorporated in 2003, is mainly engaged in business of medical and general insurance and reinsurance activities, except for vehicle insurance & insurance against risk of death and accidents. In 2008, QP transferred the ownership of Al-Koot to
Slide 23: Insurance Segment - For 2020
Segmental Details For the period ended 30 September 2020 Insurance Segment Revenue QR million • Revenue within the insurance segment for 9M-20, increased significantly by 23%, as compared 9M-19, to reach QR 736 million. Segment revenue grew strongly on the back of successful renewal of policies, alo
Slide 24: Insurance Segment - Claims and unrealized income
Segmental Details For the period ended 30 September 2020 Insurance Segment • 9M-20 actual claims significantly down on 9M-19, was mainly Actual claims incurred (QR ‘millions) driven by the impact of COVID-19 lockdowns that reduced the doctor’s consultations and minor medical procedures, causing a re
Slide 25: Catering Segment
Segmental Details Catering Segment Amwaj Catering Services Company, incorporated in 2006 as a wholly-owned subsidiary of Qatar petroleum Amwaj was subsequently acquired by GIS in 2012. Amwaj Provides diverse services which include: • Business & Industrial catering • Corporate Hospitality & VIP
Slide 26: Catering Segment - For 2020
Segmental Details For the period ended 30 September 2020 Catering Segment Revenue • 9M-20 vs 9M-19: Increase in revenue was mainly driven by QR million higher revenue across the manpower and accommodation segments, on the back of new contracts and higher occupancy levels. Revenue partially offset by
Slide 27: Catering Segment - Revenue mix
Segmental Details For the period ended 30 September 2020 Catering Segment Revenue mix QR 343 mn QR 346mn • Catering and manpower business continues to remain key contributors to the segment’s revenues. Gulf International Services, Investor Relations Presentation 27
Slide 28: Optimization updates
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Slide 29: Optimization updates
Optimization updates • Given the current difficult market and macroeconomic outlook, the Group has further strengthen on its optimization initiatives to withstand against external pressures and decisions were made to optimize cost; • Major areas focused by the Group companies includes: • Manpower co
Slide 30: Governance Structure
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Slide 31: Governance Structure
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 Special Governance Code for Companies
Slide 32: Governance Structure
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 regulatory members. The policy has fixed
Slide 33: For further information, Gulf International Services can be contacted
For further information, Gulf International Services can be contacted as follows: Telephone: (974) 4013 2088 Fax: (974) 4013 9750 Email: gis@qp.com.qa Address: P.O. Box 3212, Doha, State of Qatar Please refer to www.gis.com.qa for the latest information, publications, press releases and presentation
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