Slide 1: Industries Qatar Investor Relations Presentation
CLASSIFICATION: C0 - NON-CONFIDENTIAL Industries Qatar Investor Relations Presentation 31 March 2025 “One of the region’s industrial giants with interests in the production of a wide range of petrochemical, fertilizer and steel products.” Publication Date: March […], 2015
Slide 2: Disclaimer
CLASSIFICATION: C0 - NON-CONFIDENTIAL DISCLAIMER The Companies in which Industries Qatar Q.P.S.C. directly and indirectly owns investments are separate entities. In this presentation, “IQ” and “the Group” are sometimes used for convenience in reference to Industries Qatar Q.P.S.C. This presentation
Slide 3: Table of Content
CLASSIFICATION: C0 - NON-CONFIDENTIAL Table of Content 1. About IQ 2. Competitive strengths 3. Regional peer review 4. Macroeconomic updates 5. Group results (For the period ending 31 Mar. 2025) 6. Segment results (For the period ending 31 Mar. 2025) 7. CAPEX Summary (2025B – 2029F) 8. Dividends and
Slide 4: About IQ
CLASSIFICATION: C0 - NON-CONFIDENTIAL About IQ 4 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 4
Slide 5: IQ at a Glance
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ at a Glance Overview • Industries Qatar (IQ) was incorporated and • QatarEnergy provides most head office listed on the Qatar Exchange in 2003. functions through a comprehensive service- • IQ is the second largest company at Qatar level agreement. Exchange by
Slide 6: IQ business segments at glance (1Q-25)
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ business segments at glance (1Q-25) Business segments overview Segment size by Revenue • Through its group companies, IQ operates in three distinct business segments: 22.7% 32.1% Petrochemicals Petrochemical, Fertilizer and Steel; Fertilizers • Production fac
Slide 7: Competitive strengths
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive strengths 7 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 7
Slide 8: Competitive strengths
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive strengths • Assured feedstock supply Low-cost • Economies of scale and operationally diversified producer • Synergy benefits Strong • Solid liquidity position, with no long-term debt financial • Strong cash flow generation with stable EBITDA margins
Slide 9: Regional peer review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Regional peer review IQ ranked #33 among “2024 Forbes List of Top 100 Listed Companies in the Middle East” 9 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 9
Slide 10: Competitive positioning versus regional peers
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive positioning versus regional peers Market Cap. (USD’ billion) Total Assets (USD’ billion) Peer 1 54 Peer 1 74 IQ 22 IQ ranks #2 IQ 12 IQ ranks #2 Peer 2 20 Peer 2 9 Peer 3 14 Peer 3 7 Peer 4 6 Peer 4 7 Note: Data as of Dec-24 Note: Data as at Dec-24 N
Slide 11: Macroeconomic updates
CLASSIFICATION: C0 - NON-CONFIDENTIAL Macroeconomic updates 11 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 11
Slide 12: Macroeconomic updates
CLASSIFICATION: C0 - NON-CONFIDENTIAL Macroeconomic updates Petrochemicals LDPE ($/MT) • Petrochemical segment experienced notable fluctuations during 1650 LLDPE ($/MT) Q1-2025. Several factors impacted fluctuating petrochemical 1450 demand and supply, and thereby prices. A decline in crude oil 1250
Slide 13: Group results
CLASSIFICATION: C0 - NON-CONFIDENTIAL Group results (For the period ending 31 March 2025) 13 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 13
Slide 14: Operational performance review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Operational performance review Production (MT’ 000) Production (MT’000) • 1Q-24 vs 1Q-25: production volumes broadly remained unchanged amid restart of some of the mothballed facilities offset by planned and unplanned shutdowns within some of group’s facilities.
Slide 15: Financial performance review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Financial performance review Revenue Revenue(QR’ million) (QR Billion) • 1Q-24 vs 1Q-25: group revenue decreased marginally, mainly on account of lower sales volumes, partially offset by improved average selling prices. • 4Q-24 vs 1Q-25:Group revenue marginally
Slide 16: Net profit variance analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Net profit variance analysis Amounts in QR ‘millions 1Q-24 vs 1Q-25 1Q profits and profitability declined moderately on account of lower volumes, higher operating expenses, lower share of results from associates, partially offset by improved average selling pric
Slide 17: IQ cash flow generation
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ cash flow generation Amounts in QR ‘millions IAS 31 Group continues to generate free cash flow despite significant investment in new and sustainability CAPEX 300. IAS 31 Total Free Cash Flows Generated During the Period 17 17 Industries Qatar, IR Presentation
Slide 18: Robust and Competitive EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Robust and Competitive EBITDA margins Despite the volatile trends in commodity prices, IQ’s EBITDA margins continue to remain robust and competitive 140 60% 51% 52% 53% 120 Oil price (USD/bbl), Brent 50% IQ EBIDTA Margins (%) 45% 45% 46% 100 39% 40% 41% 41% 41%
Slide 19: IQ's Facility Utilization
CLASSIFICATION: C0 - NON-CONFIDENTIAL IQ’s Facility Utilization IQ’s plant operating rates continues to remain stable 118.0% 116.5% 116.0% 115.3% 115.0% 114.8% 114.0% 113.3% 113.3% 113.0% 112.8% 112.3% 112.0% 111.0% 110.8% 109.6% 109.1% 109.1% 107.0% 107.0% 106.4% 106.4% 105.7% 103.2% 102.9% 102.6%
Slide 20: Geographic analysis – IQ Group revenue
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographic analysis – IQ Group revenue Asia remained Group’s largest market Europe 3% Qatar North America Middle East 9% Asia, ex. ISC 19% 21% 17% South America Africa Indian sub-continent 7% 7% 17% 20 Industries Qatar, IR Presentation, 1Q-25
Slide 21: Segment results
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segment results (For the period ending 31 Mar. 2025) 21 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 21
Slide 22: Segmental Details: Petrochemicals
CLASSIFICATION: C0 - NON-CONFIDENTIAL SegmentalDetails: Segmental Details Petrochemicals • The companies in the Petrochemical segment (Qapco, Qatofin, Qafac and QVC) are engaged in the production of: Product (in 000 MT PA) Capacity1 Ethylene 920 LDPE 600 LLDPE 280 Methanol 500 MTBE 305 Caustic Soda
Slide 23: Results: Petrochemicals – production & selling prices
CLASSIFICATION: C0 - NON-CONFIDENTIAL Analysis of production & Results: Petrochemicals selling prices ▪ Production: production volumes marginally up as the segment polyethylene segment was on planned and unplanned maintenance in 1Q-24 that was fully offsetting the unplanned shutdown in the fuel addi
Slide 24: Results: Petrochemicals – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Analysis of segment revenue & net profit ▪ Revenue: marginally down versus same period of last year. This decline was driven by a reduction in sales volumes (due to demand-supply factors), and partially offsetted by a marginal improvement
Slide 25: Results: Petrochemicals – EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Analysis of segment EBITDA margins Segment’s EBITDA margins continue to remain strong amid 1200 challenging macroeconomic and operating environment 70% 58% 49% 1000 54% 60% 53% 47% 45% 45% 50% 44% 800 42% 41%40%42% 41% 39% 38%39% 36% 40%
Slide 26: Results: Petrochemicals – geographical analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographical analysis of Results: Petrochemicals segment revenue ▪ Asia (including ISC, Qatar & Middle East) remains a main market for IQ for Polyethylene (LDPE and LLDPE) and MTBE. 1Q-25 Segment Revenue (%) 1Q-24 Segment Revenue (%) 7% 0% 0% 13% 31% 20% 39% 17%
Slide 27: Results: Petrochemicals – key products analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Petrochemicals Key segment products analysis LDPE LLDPE 1,123 1,069 948 1,017 1,038 1,081 1,144 1,107 1,110 1,005 1,012 950 964 943 970 928 920 921 159 166 155 144 146 159 153 173 160 84 82 63 76 73 66 47 73 64 1Q-23 Q2-23 Q3-23 Q4-23 1Q-24 2Q-24 3Q-24
Slide 28: Segmental Details: Fertilizers
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Fertilizers • Qatar Fertiliser Company has six ammonia and six urea production trains all of which are in Qatar. Product (in 000 MT PA) Capacity1 Ammonia 3,840 Urea 5,957 Melamine 60 Total 9,922 • The segment’s primary feedstock is methane gas
Slide 29: Results: Fertilizers – production & selling prices
CLASSIFICATION: C0 - NON-CONFIDENTIAL Analysis of production & Results: Fertilizers selling prices ▪ Production: Production volumes marginally down compared to same period last year, mainly on account of lower facility availability and reliability. ▪ Production marginally improved compared to previo
Slide 30: Results: Fertilizers – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Analysis of segment Results: Fertilizers revenue & net profit ▪ Revenue: marginally increased compared to the same period of last year, due to improved selling prices which was partially offset by lower sales volumes. ▪ Moderately improved versus the previous qu
Slide 31: Results: Fertilizers – EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Analysis of segment EBITDA margins Segment’s EBITDA margins continue to remain resilient and robust 3000 80% 68% 70% 2500 53%53% 57% 60% 50% 50% 2000 47%49% 46% 48%46%49% 44% 43% 44%44%44% 50% 35% 35% 37% 1500 40% 2,546 31% 2,004 30% 1,821 1
Slide 32: Results: Fertilizers – geographical analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographical analysis of Results: Fertilizers segment revenue ▪ Asia is a key market for fertilizers along with North America followed by Europe. 1Q-25 Segment Revenue (%) 1Q-24 Segment Revenue (%) 12% 5% 14% 19% 23% 46% 18% 40% 9% 2% 12% Asia, ex. ISC Africa So
Slide 33: Results: Fertilizers – key products analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Fertilizers Key segment products analysis Urea 1,408 1,281 1,474 1,407 1,501 1,359 1,405 1,433 1,542 1,532 1,482 1,171 1,288 1,365 1,254 1,375 1,280 1,235 1,043 773 661 702 714 531 579 446 352 286 354 342 343 291 330 339 380 221 240 249 316 361 Sales vo
Slide 34: Segmental Details: Steel
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Steel • Qatar Steel Company Q.S.C. produces a wide range of intermediate steel products together with long steel. The production capacity of the plants are: Product (in 000 MT PA) Capacity1 DRI / HBI 2,300 Rebar 2,3002 * Billets 2,520 Coil 240
Slide 35: Results: Steel – production & selling prices
CLASSIFICATION: C0 - NON-CONFIDENTIAL Analysis of production & Results: Steel selling prices ▪ Production: Production has increased versus same period of last year primarily due to higher available capacity (due to restart of a mothballed facilities), despite challenging demand conditions; ▪ Product
Slide 36: Results: Steel – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Analysis of segment Results: Steel revenue & net profit ▪ Revenue: down compared to the same period last year, due to combined effect of lower prices and sales volumes. Both prices, and volumes were impacted by challenging market conditions both internationally
Slide 37: Results: Steel – EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Steel Analysis of segment EBITDA margins Although fluctuating, segment’s EBITDA margins continues to remain 450 resilient 40% 35% 400 35% 350 28% 30% 24% 24% 25% 300 22% 25% 21% 250 19% 19%18% 17% 20% 409 200 16% 13% 15% 13% 14% 13%14% 15% 313 12% 300 2
Slide 38: Results: Steel – geographical analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographical analysis of Results: Steel segment revenue • Steel segment encountered enormous challenges in 2019 due to global slowdown, challenging market dynamics and abnormal increase in input material cost. • Starting from Q2 2020, the Group decided to tempor
Slide 39: Results: Steel – key products analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results: Steel Key segment products analysis Rebars 647 640 625 610 623 640 616 628 660 319 341 282 348 317 272 302 294 244 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 3Q-24 4Q-24 1Q-25 Prices have inclined on quarterly basis, whilst the sales volumes have declined mode
Slide 40: CAPEX (2025F – 2029F)
CLASSIFICATION: C0 - NON-CONFIDENTIAL CAPEX (2025F – 2029F) 40 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 40
Slide 41: CAPEX Summary (2025F – 2029F)
CLASSIFICATION: C0 - NON-CONFIDENTIAL CAPEX Summary (2025F – 2029F): Year 2025 2026 2027 2028 2029 Total Turnaround 0.4 0.6 0.9 0.7 0.5 3.0 Major Projects / 1.7 1.5 0.6 0.2 0.0 4.0 PUD Investments Operations / Tech 0.1 0.9 1.0 1.0 0.5 3.5 Road Maps IT / IS Support 0.2 0.1 0.1 0.1 0.1 0.6 Routine CAP
Slide 42: Blue Ammonia Project
CLASSIFICATION: C0 - NON-CONFIDENTIAL Blue Ammonia is produced when the CO2 Blue Ammonia Project generated during conventional Ammonia production is captured and stored Key Highlights Strategic Partnership with QERS1 Building World’s largest Blue Ammonia facility Product Solar Power certification fr
Slide 43: New PVC Project & QVC restructuring
CLASSIFICATION: C0 - NON-CONFIDENTIAL New PVC Project & QVC restructuring Key Highlights of New PVC project First PVC plant in the State of Qatar Nameplate EPC awarded Source feedstock IQ will fund Project fully Construction capacity of valued at (i.e., Vinyl 44.8% of the USD 239 million/ integrated
Slide 44: Dividends and market capitalization
CLASSIFICATION: C0 - NON-CONFIDENTIAL Dividends and market capitalization 44 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 44
Slide 45: Dividends & Market Capitalization
CLASSIFICATION: C0 - NON-CONFIDENTIAL Dividends & Market Capitalization Payout Ratio (%) Dividend per share FY24 Payout 83% 75% 100% 75% 100% 100% 91% 94% 89% 60% 55% 82% 52% 72% 69% 67% 68% 70% 55% 54% 54% 1.10 1.10 40% 1.00 0.80 0.85 0.78 0.75 0.70 0.60 0.50 0.50 0.55 0.50 0.50 0.43 0.35 0.35 0.40
Slide 46: Historical performance (2017 - 2024)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Historical performance (2017 - 2024) 46 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 46
Slide 47: Historical performance (2017 - 2024)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Historical performance (2017 - 2024) Production (M MT’s) Sales Volumes (M MT’s) Production volumes and utilization rates remained steady since 2017 Movement sales volumes remained inline with the overall movement in production volumes Selling prices were influen
Slide 48: Historical performance (2017 - 2024)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Historical performance (2017 - 2024) Revenue (QR Bn) Net income (QR Bn) * * Normalized profits Revenue trends moved in line with the selling prices Movements in revenue together with operating costs affected the net income growth Cash flow generation for the Gro
Slide 49: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure 49 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 49
Slide 50: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure Board Structure Governance and Compliance • IQ Board of Directors consists of eight (8) • IQ is firmly committed to implementing the Directors, of whom seven (7) were appointed by principles of good governance set out in the the Special Shar
Slide 51: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure Remuneration Board of Directors Disclosure and Transparency • The Company has developed a periodically revisited • The Board ensures that all disclosures are made in remuneration policy for Board members. The policy accordance with the requi
Slide 52: Sales and Marketing
CLASSIFICATION: C0 - NON-CONFIDENTIAL Sales and Marketing 52 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 52
Slide 53: Sales and Marketing
CLASSIFICATION: C0 - NON-CONFIDENTIAL Sales and Marketing • Qatar Chemical and Petrochemical Marketing and Distribution Company Q.J.S.C. (“Muntajat”), a wholly-owned company of the government of the State of Qatar, has the exclusive rights to purchase, market, sell and distribute the State’s product
Slide 54: For further information, Industries Qatar can be contacted
CLASSIFICATION: C0 - NON-CONFIDENTIAL For further information, Industries Qatar can be contacted as follows: Telephone: (974) 4013 2080 Fax: (974) 4013 9750 Email: iq.investorrelations@qatarenergy.qa or iq@qatarenergy.qa Address: PO Box 3212, Doha, State of Qatar Please refer to www.iq.com.qa for th