Gulf International Services Qsc · QSE:GISS
Gulf International Services Qsc — Gulf International Services — Q1 2020 Earnings Presentation
29 slides from Gulf International Services Qsc's earnings presentation, Mar 31, 2020
Slide 1: Gulf International Services Investor Relations Presentation
Gulf International Services Investor Relations Presentation 31 March 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 31 March 2020) 7. Segmental details 8. Updates - Group debt restructuring & refinancing 9. Governance structure Gulf Internat
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%.
Slide 7: Board of Directors
Board of Directors The Board of Directors of the group consists of: Sheikh Khalid Khalifa Al Thani Chairman Mr. Suleiman Haider Al-Haider Vice Chairman Mr. Ghanim Mohammed Al Kuwari Member Mr. Mohammed Abdulla Al-Mannai Member Sheikh Jassim Abdulla Al-Thani Member Mr. Saad Rashid Al-Muhannadi Member
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 (2013-2018)
Results at a Glance (2013-2018) 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 the period ended 31 March 2020)
Results at a glance (For the period ended 31 March 2020)
Slide 12: Results at a Glance
Results at a Glance For the period ended 31 March 2020 Revenue (QR million) • Strong revenue growth amid capturing growth opportunities, expanding market share and major renewals of contracts across different segments. • The aviation segment reported the highest growth among all. Net profit (QR mill
Slide 13: Results at a Glance
Results at a Glance For the period ended 31 March 2020 Cash Balance (including Short- Term investments - QR million) Cash balance increased compared to last year. Mainly due to 9108 liquidation of some investments within Al-Koot portfolio and loan drawdown by GDI. Total Debt (QR million) Total debt
Slide 14: Net Profit
Net Profit For the period ended 31 March 2020 Amounts reported in QR’ millions o Revenue: Increased compared to last year by 16%. All o G&A Expenses: Increased by 15% mainly due to segments witnessed a positive growth in revenue, among increase in G&A expenses relating to aviation segment, in which
Slide 15: Segmental Details
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Slide 16: Segmental Details: 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: Segmental Details: Drilling Segment
Segmental Details For the period ended 31 March 2020 Drilling Segment Revenue Q1-20 revenue, up by 2% on Q1-19 due to: QR million o Improvement in revenue due to higher revenue from Dukhan and GDI 4. o Results were partially offset in part by GDI-3 and Musherib being off contract. Q1-20 revenue, up
Slide 18: Segmental Details: 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 54 aircrafts; GHC has 2 Direct subsidiaries: • Al Maha Aviation Company:
Slide 19: Segmental Details: Aviation Segment
Segmental Details For the period ended 31 March 2020 Aviation Segment Q1-20 revenue, up by 32% on Q1-19 due to: Revenue o Increase in revenue driven by international QR million segment, as result of commencement of certain contracts. o Absence of RSA's revenue last year, since it has been first cons
Slide 20: Segmental Details: 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 21: Segmental Details: Insurance Segment
Segmental Details For the period ended 31 March 2020 Insurance Segment Revenue Q1-20 revenue, up by 21% on Q1-19 due to: QR million o Improvement in the topline which was primarily driven by renewal of major contracts across the medical line of business, along with improved pricing terms. Q1-20 reve
Slide 22: Segmental Details: 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 23: Segmental Details: Catering Segment
Segmental Details For the period ended 31 March 2020 Catering Segment Q1-20 revenue, up by 19% on Q1-19 due to: Revenue QR million o Higher revenue across all segment, catering segment grew by 11% as a result of increased services, in addition to a new catering contract. o Manpower revenue grew by 2
Slide 24: Updates – Group Debt restructuring & refinancing
Updates – Group Debt restructuring & refinancing
Slide 25: Updates - Group Debt restructuring & refinancing
Updates - Group Debt restructuring & refinancing Total Facility size: USD 1.3 billion (Combined at GIS and GDI level) Optimize finance cost for GIS group, adding shareholder value Achieve sustainable debt level for GDI Allowing Better liquidity Flexibility to gradual Balanced and position with drive
Slide 26: Governance Structure
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Slide 27: 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 28: 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 29: 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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