Gulf International Services Qsc · QSE:GISS
Gulf International Services Qsc — Gulf International Services — Investor Presentation (September 2023)
31 slides from Gulf International Services Qsc's investor presentation, Sep 30, 2023
Slide 1: Gulf International Services Investor Relations Presentation
CLASSIFICATION: C0 - NON-CONFIDENTIAL Gulf International Services Investor Relations Presentation 30 September 2023
Slide 2: Disclaimer
CLASSIFICATION: C0 - NON-CONFIDENTIAL 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.
Slide 3: Table of Content
CLASSIFICATION: C0 - NON-CONFIDENTIAL TABLE OF CONTENT 1. About GIS 2. Group Structure 3. Board of Directors 4. Competitive advantages 5. Results at a Glance (2015 – 2022) 6. Results at a Glance (For the nine-month period ended 30 September 2023) 7. Segmental details 8. Governance structure Gulf Int
Slide 4: About GIS
CLASSIFICATION: C0 - NON-CONFIDENTIAL About GIS
Slide 5: About GIS
CLASSIFICATION: C0 - NON-CONFIDENTIAL 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, wi
Slide 6: Group Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Group Structure • Through group companies, Gulf International Services operates in four distinct segments - insurance and reinsurance, drilling, aviation services and catering services. • QatarEnergy owns 10% of GIS shares, and General Retirement and Social Insu
Slide 7: Board of Directors
CLASSIFICATION: C0 - NON-CONFIDENTIAL Board of Directors The Board of Directors of the group consists of: Sheikh Khalid bin Khalifa Al Thani Chairman Mr. Saad Rashid Al-Muhannadi Mr. Ghanim Mohammed Al Kuwari Vice Chairman Member Mr. Ali Jaber Hamad Al-Marri Sheikh Jassim Abdulla Al-Thani Member Mem
Slide 8: Competitive Advantages
CLASSIFICATION: C0 - NON-CONFIDENTIAL Competitive Advantages • The only Qatari drilling • Sole provider of oil & gas services provider. helicopter services in Qatar • Maintaining market share of • One of the largest operator over 50% of offshore and in the MENA. 100% onshore oil & gas • Modern and w
Slide 9: Results at a glance (2015-2022)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a glance (2015-2022)
Slide 10: Results at a Glance (2015-2022)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a Glance (2015-2022) Revenue (QR million) Net profit (QR million) • Revenue for 2022 recovered significantly on account of constructive business dynamics with better macroeconomic context • Net profit improved significantly during 2022, owing to robus
Slide 11: Results at a glance (nine months ended 30 September 2023)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a glance (For the nine-month period ended 30 September 2023)
Slide 12: Results at a Glance
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a Glance For the nine-month period ended 30 September 2023 Revenue (QR million) 9M-22 vs 9M-23: Revenue growth from the aviation, drilling and insurance segments led to an overall increase in the Group revenue. Catering revenue of QR 312 million is pr
Slide 13: Results at a Glance
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a Glance For the nine-month period ended 30 September 2023 Cash Balance (including Short- Term investments - QR million) Cash balance increased by 7% compared to last year-end, Total cash includes QR 48 million of unclaimed dividends from shareholders
Slide 14: Net Profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Net Profit For the nine-month period ended 30 September 2023 Amounts reported in QR’ millions 1 Profitability improved mainly due to the overall increase in revenues and positive impact on hyperinflationary accounting in one of the overseas operations. In additi
Slide 15: Segmental Details
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details
Slide 16: Segmental Details: Drilling Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details Drilling Segment ▪ Gulf Drilling International (GDI) incorporated in 2004 as a joint venture between QatarEnergy (60%) and Japan Drilling Company (40%). ▪ In 2014, GIS acquired the remaining stake of GDI, resulting in GDI becoming a wholly owne
Slide 17: Segmental Details: Drilling Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the nine-month period ended 30 September 2023 Drilling Segment Revenue • 9M-22 vs 9M-23: The revenue growth was mainly driven by higher QR million asset utilization from the onshore segment due to deployment of GDI 8 which was off contract
Slide 18: Drilling Segment: Rig utilization and revenue mix
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the nine-month period ended 30 September 2023 Drilling Segment 1 Rig utilization (%) • 9M-22 vs 9M-23: Rig utilization reached 90%. One of the lift boats went off contract during end of March 23 while the second lift boat went off-contract
Slide 19: Segmental Details: Aviation Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL 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 61 aircrafts; ▪ GHC has 3 Direct sub
Slide 20: Segmental Details: Aviation Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the nine-month period ended 30 September 2023 Aviation Segment Revenue • 9M-22 vs 9M-23: This increase can be primarily attributed to QR million heightened flying activity witnessed within both domestic and international operations, coupled
Slide 21: Aviation Segment: Flying hours and revenue mix
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the nine-month period ended 30 September 2023 Aviation Segment Actual Flying hours • Aviation segment continue to witness improved performance with better flying activity within both domestic and international operations. • Total flying hou
Slide 22: Segmental Details: Insurance Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL 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 & individual insurance against risk of death and accidents. ▪ In
Slide 23: Segmental Details: Insurance Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the nine-month period ended 30 September 2023 Insurance Segment Revenue • 9M-22 vs 9M-23: Increase in revenue was mainly linked to the QR million acquisition of new contracts in the medical line of business and the expansion of premiums in
Slide 24: Insurance Segment: Claims and investment income
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the nine-month period ended 30 September 2023 Insurance Segment Actual claims incurred (QR ‘millions) • 9M-22 vs 9M-23: On year-on-year basis, claims incurred increased due to rise in medical claims. The mandatory health insurance for expat
Slide 25: Segmental Details: Catering Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details Catering Segment ▪ Amwaj Catering Services Company, incorporated in 2006 as a wholly-owned subsidiary of QatarEnergy ▪ Amwaj was subsequently acquired by GIS in 2012. ▪ Amwaj Provides diverse services which include: • Business & Industrial cate
Slide 26: Segmental Details: Catering Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the nine-month period ended 30 September 2023 Catering Segment Revenue • 9M-22 vs 9M-23: Revenue reduction was mainly due to the QR million completion of FIFA World Cup related contracts, non-renewal of certain contracts within the catering
Slide 27: Catering Segment: Revenue mix
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the nine-month period ended 30 September 2023 Catering Segment Revenue mix QR 395 m QR 312 m • Manpower and catering businesses continue to remain key contributors to segmental revenues. Note: Catering business (i.e. 100% Amwaj operations)
Slide 28: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure
Slide 29: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL 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
Slide 30: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL 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 reg
Slide 31: For further information, Gulf International Services can be contacted
CLASSIFICATION: C0 - NON-CONFIDENTIAL For further information, Gulf International Services can be contacted as follows: Telephone: (974) 4013 2088 Fax: (974) 4013 9750 Email: gis.investorrelations@qatarenergy.qa or gis@qatarenergy.qa Address: P.O. Box 3212, Doha, State of Qatar Please refer to www.g
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