Gulf International Services Qsc · QSE:GISS
Gulf International Services Qsc — Gulf International Services — Q1 2021 Earnings Presentation
31 slides from Gulf International Services Qsc's earnings presentation, Mar 31, 2021
Slide 1: Gulf International Services Investor Relations Presentation
Gulf International Services Investor Relations Presentation 31 March 2021
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 three-month period ended 31 March 2021) 7. Segmental details 8. Governance structure Gulf International Services, Investor Relations P
Slide 4: About GIS
Peqeeves iE wrre wey] Gulf International Services asc About GIS
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 ~21.7
Slide 7: Board of Directors
Board of Directors The Board of Directors of the group consists of: Sheikh Khalid 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 Member Mr. Mohammed Nasser Al-Hajri Mr. Moham
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 (three-month period ended 31 March 2021)
Results at a glance (For the three-month period ended 31 March 2021)
Slide 12: Results at a Glance
Results at a Glance For the three-month period ended 31 March 2021 Revenue (QR million) Q1-21 vs Q1-20: Revenue decreased by 15% on last year. Revenue improvement from the insurance segment was entirely offset by revenue reduction from all the other segments. Topline performance of the Group continu
Slide 13: Results at a Glance
Results at a Glance For the three-month period ended 31 March 2021 Cash Balance (including Short- Term investments - QR million) 9108 Cash balance improved compared to last year-end, mainly due to the proceeds received from sale of investments and collection of receivable balances within the insuran
Slide 14: Net Profit
Net Profit For the three-month period ended 31 March 2021 Amounts reported in QR’ millions o Revenue: reduction by 15%. Revenue reduction was mainly impacted o G&A Expenses: reduced by 16% by the ongoing rig suspension and decline in rig rates since previous o Aviation: down by QR 1 million compared
Slide 15: Segmental Details
jes baa dU dulgatl eal Gulf International Services asc Segmental Details
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
Segmental Details For the three-month period ended 31 March 2021 Drilling Segment Revenue QR million • Q1-21 vs Q1-20: revenue down by 32%, mainly due to continued rig suspension within the on-shore fleet, amid COVID-19 pandemic. Moreover, the rig day-rates, with effect from July 2020, were repriced
Slide 18: Drilling Segment
Segmental Details For the three-month period ended 31 March 2021 Drilling Segment 1 Rig utilization (%) • Rig utilization improved, mainly due to Al-Safiliya going back to operation, partially offset by GDI 8 going off-contract since Nov-20. Revenue Mix • Offshore operations continue to contribute s
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
Segmental Details For the three-month period ended 31 March 2021 Aviation Segment Revenue QR million • Q1-21 vs Q1-20: The negative growth in revenue was mainly on the back of ongoing impact of COVID-19 restrictions, affecting the flight demand, both domestically and internationally, as the actual r
Slide 21: Aviation Segment
Segmental Details For the three-month period ended 31 March 2021 Aviation Segment Actual Flying hours • Flying hours within the aviation segment declined significantly, year-on-year basis, domestically as well as internationally, mainly due to ongoing impacts of COVID-19 restrictions, affecting the
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
Segmental Details For the three-month period ended 31 March 2021 Insurance Segment Revenue QR million • Q1-21 vs Q1-20: Segment revenue grew strongly on the back of to higher premiums from the general insurance segment. • Q1-21 vs Q4-20: Segment revenue for Q1-21 versus Q4-20 increased by 4%, as the
Slide 24: Insurance Segment
Segmental Details For the three-month period ended 31 March 2021 Insurance Segment Actual claims incurred (QR ‘millions) • Actual claims up on last year, mainly due to increase in Medical insurance claims driven by the impact of COVID-19 lockdowns that reduced doctor’s consultations and minor medica
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
Segmental Details For the three-month period ended 31 March 2021 Catering Segment Revenue QR million • Catering segment reported a revenue of QR 86 million, with a decline of 31% compared to Q1-20. This was mainly as a result of lowered number of meals served across majority of catering locations, d
Slide 27: Catering Segment
Segmental Details For the three-month period ended 31 March 2021 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: Governance Structure
jes baa dU dulgatl eal Bulf International Services asc Governance Structure
Slide 29: 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 30: 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 31: 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
Gulf International Services — Q1 2021 Earnings Presentation on 6ix