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Qatar Navigation Qsc — Qatar Navigation Q.P.S.C. (Milaha) — Q1 2022 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Apr 21, 2022
Slide 1: Q1 2022 Financial Summary Conference Call
Q1 2022 Financial Summary Conference Call Doha, Qatar April 21, 2022
Slide 2: Consolidated Income Statement – Q1
Consolidated Income Statement – Q1 (All amounts in QR Millions) 2020 2021 2022 Operating Revenue 692 675 913 Salaries, Wages and Other Benefits (153) (150) (155) Revenue 35% Operating Supplies and Expenses (205) (259) (415) Rent Expenses (2) (1) (2) Operating Profit before Impairments 48% Depreciati
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 • Crude , Chemicals & • Strategic and
Slide 4: Net Profit, by Segment – Q1
Net Profit, by Segment – Q1 (All amounts in QR Millions) +15% %’s shown vs 2021 182 164 150 143 -8% +108% 110 102 88 +219% -134% 42 30 (2) (2) 3 8 (1) Maritime & Logistics Offshore Gas & Petrochem Trading Capital (78) Unfavorable Favorable 2020 2021 2022 4
Slide 5: Statement of Income, by Segment – Q1 2022
Statement of Income, by Segment – Q1 2022 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 366 290 53 67 208 - (72) 913 Salaries, Wages and Other Benefits (87) (22) (6) (4) (3) (33) - (155) O
Slide 6: Statement of Income, by Segment – Q1 2021
Statement of Income, by Segment – Q1 2021 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 240 191 64 73 172 0 (64) 675 Salaries, Wages and Other Benefits (87) (19) (6) (3) (3) (33) - (150) O
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – Q1 (All amounts in QR Millions) Maritime & Logistics 2020 2021 2022 53% Increase in Revenue and 108% Increase in Net Profit Operating Revenue 250 240 366 o Operating Revenue increased QR 126m Salaries, Wages and Other Benefits (85) (87) (87) • Higher shipping rates from 2021 co
Slide 8: Segment Performance – Offshore Marine
Segment Performance – Q1 (All amounts in QR Millions) Offshore Marine 2020 2021 2022 52% Increase in Revenue and 219% Increase in Bottom Line Operating Revenue 203 191 290 o Operating Revenue increased QR 99m Salaries, Wages and Other Benefits (19) (19) (22) • Services revenue increased from diving/
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – Q1 (All amounts in QR Millions) Gas & Petrochem 2020 2021 2022 17% Decrease in Revenue and 15% Increase in Net Profit Operating Revenue 78 64 53 o Operating Revenue decreased by QR (11)m Salaries, Wages and Other Benefits (7) (6) (6) • Revenue drop attributable to sale of 2 tan
Slide 10: Segment Performance – Trading
Segment Performance – Q1 (All amounts in QR Millions) Trading 2020 2021 2022 8% Decrease in Revenue and 134% Decrease in bottom line Operating Revenue 56 73 67 o Decrease in Bunker Sales revenue coming from reduced volumes Salaries, Wages and Other Benefits (3) (3) (4) due to market conditions. Oper
Slide 11: Segment Performance – Capital
Segment Performance – Q1 (All amounts in QR Millions) Capital 2020 2021 2022 21% Increase in Revenue and 8% Decrease in Net Profit Operating Revenue 200 172 208 o QR 37M increase in Revenue: Salaries, Wages and Other Benefits (2) (3) (3) • +20m increase in Qatar Quarries gabbro sales Operating Suppl
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • We expect the strong shipping rates to continue through at least mid 2022, but are seeing signs of global rate pullback ➢Logistics • We expect uplift in warehousing & freight forwarding from new global network partnerships • Expect to benefit from s
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels • We expect improvement in financial performance due to the deployment of vessels that were in maintenance in Q1 ➢Offshore Services • Expect further scaling up in specialized subsea services and MMO (Maintenance, Modification & Operations) ➢Harbor Op
Slide 14: Outlook – Gas & Petrochem
Outlook Gas & Petrochem ➢Jointly & Fully owned LNG carriers • Fairly stable earnings due to long term fixed nature of contracts ➢1 Fully-owned product tanker • Sole remaining tanker is currently undergoing conversion to an FSO for a long-term contract that starts mid 2022 ➢1 Fully-owned gas / ammoni
Slide 15: Outlook – Trading
Outlook Trading ➢We expect benefits from reorganizing & investing in more sales capabilities ➢Continued focus on ship chandlering growth and other marine services growth ➢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/upside results expected for Real Estate holdings • Upside revenue from the new villa compound where tenancy contract commenced in Q3 2021 16
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