Gulf International Services Qsc · QSE:GISS
Gulf International Services Qsc — Gulf International Services — FY2020 Earnings Presentation
33 slides from Gulf International Services Qsc's earnings presentation, Dec 31, 2020
Slide 1: Gulf International Services Investor Relations Presentation
Gulf International Services Investor Relations Presentation 31 December 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 – 2020) 6. Results at a Glance (For the year ended 31 December 2020) 7. Segmental details 8. Optimization updates 9. Governance structure Gulf International Services, Investo
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 ~22.1
Slide 7: Board of Directors
Board of Directors The Board of Directors of the group consists of: Sheikh Khalid Khalifa Al Thani Chairman Mr. Ali Jaber Hamad Al-Marri Vice Chairman Mr. Ghanim Mohammed Al Kuwari Member Mr. Saad Rashid Al-Muhannadi Member Sheikh Jassim Abdulla Al-Thani Member Gulf International Services, Investor
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 (2013-2020)
Results at a glance (2013-2020)
Slide 10: Results at a Glance (2013-2020)
Results at a Glance (2013-2020) Revenue (QR million) Net profit (QR million) • Revenue peaked in 2015 with overall trajectory remained in line with cyclical movements in crude oil prices • Net profit dropped after the peak in 2014, due to overall movements in revenue and increase in financing costs
Slide 11: Results at a glance (For 2020)
Results at a glance (For the year ended 31 December 2020)
Slide 12: Results at a Glance For 2020
Results at a Glance For the year ended 31 December 2020 Revenue (QR million) 2020 vs 2019: Revenue growth remained flat. Revenue improvement from the insurance and aviation segments was entirely offset by revenue reduction in the drilling and catering segments. Q4-20 vs Q3-20: Revenue improved in Q4
Slide 13: Results at a Glance For 2020
Results at a Glance For the year ended 31 December 2020 Cash Balance (including Short- Term investments - QR million) 9108 Cash balance slightly decreased compared to last year, mainly due to lesser drawdowns and repayment of loan. Total Debt (QR million) Total debt witnessed a decline, mainly due t
Slide 14: Net Profit
Net Profit For the year ended 31 December 2020 Amounts reported in QR’ millions Recurring profits One-off, non-cash o Revenue: remained relatively flat compared to last year. Revenue o G&A Expenses: increased by 8% growth within the insurance and aviation segments and offset by o Aviation: up by QR
Slide 15: Segmental Details
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Slide 16: 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: Drilling Segment 2020
Segmental Details For the year ended 31 December 2020 Drilling Segment • 2020 revenue of QR 923 million, down by 21% on previous year, Revenue mainly due to premature rig suspension within the on-shore fleet, amid COVID-19 pandemic. However, the suspension is only for a QR million temporary period a
Slide 18: Drilling Segment: Rig Utilization and Revenue Mix
Segmental Details For the year ended 31 December 2020 Drilling Segment Rig utilization (%) • Rig utilization remained depressed, mainly due to GDI-3 and Msherib being off contract since last year, in addition to Al-Safliya from this year. Revenue Mix • Offshore operations continue to contribute sign
Slide 19: 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 55 aircrafts; GHC has 3 Direct subsidiaries: • Al Maha Aviation Company:
Slide 20: Aviation Segment 2020
Segmental Details For the year ended 31 December 2020 Aviation Segment • 2020 revenue, up by 17% compared to 2019 as the revenue across all the Revenue aviation business units reported a positive variance. The domestic segment was successful in revising contract rates effective from the year QR mill
Slide 21: Aviation Segment: Flying Hours and Revenue Mix
Segmental Details For the year ended 31 December 2020 Aviation Segment • Flying hours within the aviation segment declined significantly, Actual Flying hours year-on-year basis, domestically as well as internationally. Mainly due to the outbreak of COVID-19 pandemic, especially in the months of Apri
Slide 22: 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 23: Insurance Segment 2020
Segmental Details For the year ended 31 December 2020 Insurance Segment Revenue QR million • Revenue within the insurance segment for 2020, increased significantly by 18%, as compared to 2019, and reached QR 981 million. Segment revenue grew strongly on the back of successful renewal of policies, al
Slide 24: Insurance Segment: Claims and Unrealized Income
Segmental Details For the year ended 31 December 2020 Insurance Segment Actual claims incurred (QR ‘millions) • 2020 actual claims significantly down on 2019, mainly driven by the impact of COVID-19 lockdowns that reduced doctor’s consultations and minor medical procedures, attributing to a reductio
Slide 25: 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 26: Catering Segment 2020
Segmental Details For the year ended 31 December 2020 Catering Segment Revenue QR million • 2020 vs 2019: Decline in revenue was mainly driven by lowered revenues within the catering sub-segment, mainly impacted by the COVID-19 restrictions imposed, which led to lower number of meals being served ac
Slide 27: Catering Segment: Revenue Mix
Segmental Details For the year ended 31 December 2020 Catering Segment Revenue mix • Catering and manpower businesses continue to remain key contributors to the segment’s revenues. Gulf International Services, Investor Relations Presentation 27
Slide 28: Optimization updates
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Slide 29: Optimization updates
Optimization updates • Given the current difficult market and macroeconomic outlook, the Group has further strengthen on its optimization initiatives to withstand against external pressures and decisions were made to optimize cost; • Major areas focused by the Group companies includes: • Manpower co
Slide 30: Governance Structure
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Slide 31: 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 32: 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 33: 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.investorrelations@qp.com.qa or gis@qp.com.qa Address: P.O. Box 3212, Doha, State of Qatar Please refer to www.gis.com.qa for the latest information, publicatio
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