Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — H1 2022 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Aug 11, 2022
Slide 1: H1 2022 Financial Summary Conference Call
H1 2022 Financial Summary Conference Call Doha, Qatar August 11, 2022
Slide 2: Consolidated Income Statement – H1
Consolidated Income Statement – H1 (All amounts in QR Millions) 2020 2021 2022 Operating Revenue 1,230 1,373 1,774 Salaries, Wages and Other Benefits (292) (305) (313) Revenue 29% Operating Supplies and Expenses (407) (618) (858) Rent Expenses (3) (3) (4) Operating Profit before Impairments 115% Dep
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
Net Profit, by Segment – H1 (All amounts in QR Millions) +18% %’s shown vs 2021 299 307 259 +159% +3% 182 124 127 +336% 81 70 46 -27% (12) 29 (6) (4) (3) Maritime & Offshore Gas & Petrochem Trading Capital Logistics Unfavorable (121) Favorable 2020 2021 2022 4
Slide 5: Statement of Income, by Segment – H1 2022
Statement of Income, by Segment – H1 2022 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 748 587 101 174 313 - (149) 1,774 Salaries, Wages & Benefits (173) (44) (12) (8) (6) (70) - (313) Op
Slide 6: Statement of Income, by Segment – H1 2021
Statement of Income, by Segment – H1 2021 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 501 474 132 158 237 0 (129) 1,373 Salaries, Wages & Benefits (179) (39) (12) (6) (6) (62) - (305) Op
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – H1 (All amounts in QR Millions) Maritime & Logistics 2020 2021 2022 49% Increase in Revenue and 159% Increase in Net Profit Operating Revenue 443 501 748 o Operating Revenue increased QR 247m • Continued high shipping rates from mid 2021 boosted Salaries, Wages and Other Benefi
Slide 8: Segment Performance – Offshore Marine
Segment Performance – H1 (All amounts in QR Millions) Offshore Marine 2020 2021 2022 24% Increase in Revenue and 336% Increase in Bottom Line Operating Revenue 397 474 587 o Operating Revenue increased QR 113m Salaries, Wages and Other Benefits (36) (39) (44) • Vessel chartering revenue increased fr
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – H1 (All amounts in QR Millions) Gas & Petrochem 2020 2021 2022 23% Decrease in Revenue and 18% Increase in Net Profit Operating Revenue 165 132 101 o Operating Revenue decreased by QR (31)m Salaries, Wages and Other Benefits (14) (12) (12) • Revenue drop mainly attributable to
Slide 10: Segment Performance – Trading
Segment Performance – H1 (All amounts in QR Millions) Trading 2020 2021 2022 10% Increase in Revenue and 27% Decrease in bottom line Operating Revenue 89 158 174 o Increases in Bunker & Marine Sales revenue and related Cost of Salaries, Wages and Other Benefits (6) (6) (8) Goods Sold Operating Suppl
Slide 11: Segment Performance – Capital
Segment Performance – H1 (All amounts in QR Millions) Capital 2020 2021 2022 32% Increase in Revenue and 3% Increase in Net Profit Operating Revenue 260 237 313 o QR 76M increase in Revenue: Salaries, Wages and Other Benefits (4) (6) (6) • +43m increase in Qatar Quarries gabbro sales Operating Suppl
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • Overall shipping rates expected to remain relatively stable rest of year ➢Logistics • We expect uplift in warehousing & freight forwarding from new global network partnerships • Expect to benefit from supporting North Field Expansion-related project
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels / Services • Continue to focus on scaling up in specialized subsea services and MMO (Maintenance, Modification & Operations) and ensuring employment of vessels; overall expect stable results • New 5-year Liftboat contract signed taking effect mid Q3
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 / FSO • Last tanker was successfully converted to an FSO and is now employed on long-term contract ➢1 Fully-owned gas / ammonia carrier • Time
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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