Mesaieed Petrochemical Holding Company Q.s.c. · QSE:MPHC
Mesaieed Petrochemical Holding Company Q.s.c — Mesaieed Petrochemical Holding Company — Q1 2025 Earnings Presentation
45 slides from Mesaieed Petrochemical Holding Company Q.s.c's earnings presentation, Mar 31, 2025
Slide 1: Mesaieed Petrochemical Holding Company IR Presentation
CLASSIFICATION: C0 - NON-CONFIDENTIAL Mesaieed Petrochemical Holding Company IR Presentation 31 Mar 2025 “one of the region’s premier diversified petrochemical conglomerates with interests in the production of olefins, polyolefins, alpha olefins and chlor-alkali products”
Slide 2: Disclaimer
CLASSIFICATION: C0 - NON-CONFIDENTIAL Disclaimer The companies in which Mesaieed Petrochemical Holding Company Q.P.S.C. directly and indirectly owns investments are separate entities. In this presentation, “MPHC” and “the group” are sometimes used for convenience in reference to Mesaieed Petrochemic
Slide 3: Table of Content
CLASSIFICATION: C0 - NON-CONFIDENTIAL Table of Content 1. About MPHC 2. Competitive strengths 3. Regional peers review 4. Macroeconomic updates 5. MPHC results (For the period ended on 31 Mar 2025) 6. Segmental results (For the period ended on 31 Mar 2025) 7. CAPEX (2025F – 2029F) 8. Dividends and m
Slide 4: About MPHC
CLASSIFICATION: C0 - NON-CONFIDENTIAL About MPHC 4
Slide 5: MPHC at a glance
CLASSIFICATION: C0 - NON-CONFIDENTIAL MPHC at a glance Overview • Mesaieed Petrochemical Holding Company • QatarEnergy provides most head office Q.P.S.C. (“MPHC” or “the Group”; QE ticker: functions through a comprehensive service- MPHC) was incorporated on May 29, 2013 and level agreement. was list
Slide 6: MPHC business segments at a glance
CLASSIFICATION: C0 - NON-CONFIDENTIAL MPHC business segments at a glance Business segments overview Segments size by Revenue • Through its joint ventures companies, MPHC operates in two distinct business segments: 27.0% Petrochemical Petrochemical and Chlor-Alkali; Chlor-Alkali • Production faciliti
Slide 7: Competitive strengths
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive strengths 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 financial • Strong cash flow generation with stable EBITDA margins position • Sound dividen
Slide 9: Regional peers review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Regional peers review 9
Slide 10: Competitive positioning versus regional peers
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive positioning versus regional peers Revenue. (USD’ billion) Net profit (USD’ million) Peer 1 37.3 Peer 1 1,234 26% Peer 2 6.0 Peer 2 1,225 20% Net profit margin (%) Peer 3 4.7 Peer 3 411 1% Peer 4 2.3 MPHC 198 26% MPHC 0.8 MPHC ranks #5 Peer 4 112 7% M
Slide 11: Macroeconomic updates
CLASSIFICATION: C0 - NON-CONFIDENTIAL Macroeconomic updates 11
Slide 12: Macroeconomic updates
CLASSIFICATION: C0 - NON-CONFIDENTIAL Macroeconomic updates Petrochemicals 1350 HDPE ($/MT) • In the first quarter of 2025, the petrochemical sector experienced notable volatility due to various market 1250 dynamics. A significant drop in crude oil prices led to 1150 lower feedstock costs. This, com
Slide 13: MPHC results
CLASSIFICATION: C0 - NON-CONFIDENTIAL MPHC results (For the period ended on 31 Mar. 2025) 13
Slide 14: Operational performance review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Operational performance review • 1Q-24 vs 1Q-25: production inclined compared to the same Production (MT’ 000) period of last year, mainly due to better plant availability. • 4Q-24 vs 1Q-25: On a quarter-on-quarter basis, production volumes for 1Q-25 are higher
Slide 15: Financial performance review
CLASSIFICATION: C0 - NON-CONFIDENTIAL Financial performance review Revenue (QR’ million) • 1Q-24 vs 1Q-25: Group revenue decline mainly linked to the decrease noted average blended product prices and partially offset by higher sales volume. • 4Q-24 vs 1Q-25: revenue decreased on a quarter-on-quarter
Slide 16: Net Profit Variance Analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Net Profit Variance Analysis QR ‘millions - Net profits decreased due to: Unfavorable variance • Lower selling prices. • Higher variable cost. Favorable variance • Higher sales volumes; • Higher others due to lower COGS offset by lower interest income. • Lower i
Slide 17: MPHC operating rates
CLASSIFICATION: C0 - NON-CONFIDENTIAL MPHC operating rates Operating rates of MPHC segments remained stable Petrochemicals Chlor-Alkali MPHC - Group 116% 116% 115% 112% 112% 112% 111% 111% 111% 110% 110% 110% 109% 109% 109% 105% 105% 104% 104% 104% 104% 104% 103% 103% 102% 102% 99% 99% 99% 99% 98% 9
Slide 18: Geographic analysis – MPHC Group revenue
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographic analysis – MPHC Group revenue Asia including ISC remained MPHC’s largest market, while its presence in Europe continued to be substantial Europe 23% Qatar Middle East 2% Asia, ex. ISC 12% 26% Africa Indian sub-continent 11% 26% 18 Mesaieed Petrochemic
Slide 19: Robust EBITDA margins
CLASSIFICATION: C0 - NON-CONFIDENTIAL Robust EBITDA margins Despite the volatile trends in commodity prices, MPHC’s EBITDA margins continue to remain resilient 150 65% 61% 61% 130 58% 60% Oil price (USD/bbl), brent MPHC EBITDA Margins (%) 54% 55%56% 55% 110 52%52% 55% 50% 48% 49% 50% 90 47% 44% 44%
Slide 20: Segmental results
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental results (For the period ended on 31 Mar. 2025) 20
Slide 21: Segmental Details: Petrochemicals
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Petrochemicals ▪ Q-Chem and Q-Chem II are both owned 49% by MPHC, 49% by Chevron Phillips Chemical International Qatar Holdings L.L.C., and 2% by QatarEnergy; ▪ Q-Chem II also has an effective ownership of 53.85% in Ras Laffan Olefins Company
Slide 22: Segmental Details: Petrochemicals – production & selling prices
CLASSIFICATION: C0 - NON-CONFIDENTIAL Analysis of production & Segmental Details: Petrochemicals selling prices ▪ Production: Production up compared to 1Q-24, due to higher plant availability. ▪ Production declined during 1Q-25 in comparison to 4Q-24, due to lower availability in Q-Chem facilities.
Slide 23: Segmental Details: Petrochemicals – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Petrochemicals Analysis of segment revenue & net profit ▪ Revenue: Down as compared to 1Q-24, due to lower selling prices and partially offset by higher sales volumes on the back of higher production amid better availability; ▪ Q1-25 revenue d
Slide 24: Segmental Details: Petrochemicals – geographical analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographical analysis of Segmental Details: Petrochemicals segment revenue ▪ Asia & Europe remains a main market for Petrochemical segment 1Q-25 Segment Revenue (%) 1Q-24 Segment Revenue (%) 3% 3% 7% 6% 20% 11% 10% 34% 22% 31% 38% 15% Asia, excl. ISC Africa Indi
Slide 25: Segmental Details: Petrochemical key products analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Petrochemical Key segment products analysis HDPE 1,301 1,278 1,070 1,1341,1641,178 773 718 832 906 1,022 908 970 1,024 904 966 923 989 970 904 876 88 97 109 133 110 109 119 119 79 106 115 121 102 112 112 111 107 98 90 116 104 NAO 1,4861,353 1,
Slide 26: Segmental Details: Chlor-Alkali
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Chlor-Alkali ▪ Qatar Vinyl Company Limited Q.S.C. (“QVC”) is owned 55.2% by MPHC, 31.9% by Qapco and 12.9% by QatarEnergy; ▪ QVC’s operations have been integrated with Qapco, bringing additional synergies to the group. ▪ The segment is engaged
Slide 27: Segmental Details: Chlor-Alkali – production & selling prices
CLASSIFICATION: C0 - NON-CONFIDENTIAL Analysis of production & Segmental Details: Chlor-Alkali selling prices ▪ Production: Production increased marginally as compared to 1Q-24, mainly due to better plant availability; ▪ Production inclined compared to 4Q-24, due to planned shutdown during the previ
Slide 28: Segmental Details: Chlor-Alkali – revenue & net profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Chlor-Alkali Analysis of segment revenue & net profit ▪ Revenue: Down as compared to 1Q-24, mainly due to lower selling price, partially offset by higher sales volumes. ▪ Revenue for 1Q-25 significantly improved versus previous quarter, due to
Slide 29: Segmental Details: Chlor-Alkali – geographical analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Geographical analysis of Segmental Details: Chlor-Alkali segment revenue ▪ Indian sub-continent remain a main market for Chlor-Alkali segment 1Q-25 Segment Revenue (%) 1Q-24 Segment Revenue (%) 2% 3% 2% 2% 21% 27% 1% 52% 8% 65% 16% Asia, excl. ISC Africa America
Slide 30: Segmental Details: Chlor-Alkali key products analysis
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details: Chlor-Alkali Key segment products analysis Vinyl Chloride Monomer (VCM) 1,1081,1221,1321,2071,2241,078 891 715 601 697 618 665 590 632 605 622 591 641 448 546 508 39 30 47 56 53 46 58 18 45 50 51 34 30 37 45 53 48 46 46 22 41 Caustic Soda 656
Slide 31: CAPEX (2025F – 2029F)
CLASSIFICATION: C0 - NON-CONFIDENTIAL CAPEX (2025F – 2029F) 31
Slide 32: CAPEX (2025F – 2029F) – MPHC share – QR Million
CLASSIFICATION: C0 - NON-CONFIDENTIAL CAPEX (2025F – 2029F) – MPHC share –QR Million o MPHC Share of Cumulative CAPEX spend across all segments during 2025-2029 is presented in the below table Sr no Project name Category 2025 2026 2027 2028 2029 Q-Chem : Major Projects 1 NZLD Environment 0.5 5.7 36.
Slide 33: 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 Project fully Construction Source feedstock MPHC will capacity of valued at (i.e., Vinyl fund 55.2% of integrated expected to Chlori
Slide 34: New Salt Plant Project
CLASSIFICATION: C0 - NON-CONFIDENTIAL New Salt Plant Project: Project Overview: • Board announced intention to form a joint venture (JV) for salt plant construction and operation • MoU signed with strategic partners on September 23, 2024 Financial Estimate & Project Details: Joint Venture Structure:
Slide 35: Dividends & Market Capitalization
CLASSIFICATION: C0 - NON-CONFIDENTIAL Dividends & Market Capitalization 35
Slide 36: Dividends & Market Statistics
CLASSIFICATION: C0 - NON-CONFIDENTIAL Dividends & Market Statistics Payout Ratio (%) Dividend per share 74% 78% 100% Payout 100% 0.12 120% 77% 74% 94% of net earnings 0.1 72% 81% 76% 81% 72% 100% 0.08 80% 0.06 0.110 0.110 0.110 60% 0.04 0.070 0.070 0.070 0.086 40% 0.060 0.080 0.02 0.040 0.040 0.027
Slide 37: Historical performance (2019 – 2024)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Historical performance (2019 – 2024) 37
Slide 38: Historical performance (2019 – 2024)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Historical performance (2019 – 2024) Production (MT’000) Utilization (%) Production and sales volumes remained relatively stable Utilization moved in line with the production levels Selling prices reflected cyclical movements inline with the global commodity pri
Slide 39: Historical performance (2019 – 2024)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Historical performance (2019 – 2024) Revenue (Million QR) Net Profit (Million QR) Both revenue and net profit witnessed movements, in line with product prices Total assets grew marginally, while the cash and cash equivalents remained robust Total Assets (Million
Slide 40: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure 40
Slide 41: Governance
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Board Structure Board Committees ▪ MPHC Board of Directors consists of seven (7) ▪ The Board of Directors established Board Committees Directors, all of whom were appointed by the Special and Special Committees to carry out specific tasks. The Shareho
Slide 42: Governance
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Remuneration • Board of Directors Shareholders rights ▪ The Company has developed a periodically ▪ The Company’s Articles of Associations provide for the rights revisited remuneration policy for Board of shareholders, particularly the rights to receiv
Slide 43: Sales and Marketing
CLASSIFICATION: C0 - NON-CONFIDENTIAL Sales and Marketing 43 INDUSTRIES QATAR | Quarterly Financial Update (2014 Q4) | Page 43
Slide 44: Sales and Marketing
CLASSIFICATION: C0 - NON-CONFIDENTIAL Sales and Marketing • Qatar Chemical and Petrochemical Marketing and Distribution Company (“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 production of pe
Slide 45: For further information, Mesaieed Petrochemical Holding Company can be contacted
CLASSIFICATION: C0 - NON-CONFIDENTIAL For further information, Mesaieed Petrochemical Holding Company can be contacted as follows: Telephone: (+974) 4013 2080 Fax: (+974) 4013 9750 Email: mphc.investorrelations@qatarenergy.qa or mphc@qatarenergy.qa Address: PO Box 3212, Doha, State of Qatar Please r
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