Gulf International Services Qsc · QSE:GISS
Gulf International Services Qsc — Gulf International Services — Investor Presentation (March 2024)
30 slides from Gulf International Services Qsc's investor presentation, Mar 31, 2024
Slide 1: Gulf International Services Investor Relations Presentation
CLASSIFICATION: C0 - NON-CONFIDENTIAL Gulf International Services Investor Relations Presentation 31 March 2024
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 (2016 – 2023) 6. Results at a Glance (For the three-month period ended 31 March 2024) 7. Segmental details 8. Governance structure Gulf Intern
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 Dr. Mohammed Youssef Al-Mulla 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% on shore oil & gas • Modern and
Slide 9: Results at a glance (2016-2023)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a glance (2016-2023)
Slide 10: Results at a Glance (2016-2023)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a Glance (2016-2023) Revenue (QR million) Net profit (QR million) • Revenue for 2023 recovered significantly on account of constructive business dynamics with better macroeconomic context • Net profit improved significantly during 2023, owing to robus
Slide 11: Results at a glance (For 2024)
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a glance (For the three-month period ended 31 March 2024)
Slide 12: Results at a Glance
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a Glance For the three-month period ended 31 March 2024 Revenue (QR million) 1Q-23 vs 1Q-24: All subsidiaries witnessed growth in revenue compared to last year supported by improved day rates, higher asset utilization from the aviation and drilling se
Slide 13: Results at a Glance
CLASSIFICATION: C0 - NON-CONFIDENTIAL Results at a Glance For the three-month period ended 31 March 2024 Cash Balance (including Short- Term investments - QR million) Cash balance declined compared to last year-end, mainly due to dividends payments for the financial year 2023. Total cash includes QR
Slide 14: Net Profit
CLASSIFICATION: C0 - NON-CONFIDENTIAL Net Profit For the three-month period ended 31 March 2024 Amounts reported in QR’ millions Profitability increased mainly due to improved revenue noted across all the business segments in addition to reduction in finance costs by 49% on the back of the new debt
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 three-month period ended 31 March 2024 Drilling Segment Revenue • 1Q-23 vs 1Q-24: Revenue growth has been driven by QR million higher revenue from the offshore segment mainly due to higher management fees for certain rigs within the JV
Slide 18: Segmental Details: Drilling Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the three-month period ended 31 March 2024 Drilling Segment 1 Rig utilization (%) • 1Q-23 vs 1Q-24: Rig utilization reached 95% all marketable rigs and lift boats were contracted and operating. Rumaila commenced operations during mid- March
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 62 aircrafts; GHC has 3 Direct sub
Slide 20: Segmental Details: Aviation Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the three-month period ended 31 March 2024 Aviation Segment Revenue • 1Q-23 vs 1Q-24: This increase can be primarily attributed QR million to heightened flying activity witnessed within both domestic and international operations, coupled th
Slide 21: Segmental Details: Aviation Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the three-month period ended 31 March 2024 Aviation Segment • Aviation segment continue to witness Actual Flying hours improved performance with better flying +14% activity within both domestic and international operations. 7,736 6,783 • To
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 three-month period ended 31 March 2024 Insurance Segment Revenue QR million • 1Q-23 vs 1Q-24: Increase in revenue was mainly linked to renewal of major contracts within the energy and medical line of business. • 4Q-23 vs 1Q-24: Revenue
Slide 24: Segmental Details: Insurance Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the three-month period ended 31 March 2024 Insurance Segment Actual claims incurred • 1Q-23 vs 1Q-24: : Claims incurred has decreased by (QR ‘millions) 23% compared to the previous year. • 4Q-23 vs 1Q-24: claims incurred during 1Q-24 decrea
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. In 2023, Amwaj officially merged with Shaqab and Atyab. GIS new ownership i
Slide 26: Segmental Details: Catering Segment
CLASSIFICATION: C0 - NON-CONFIDENTIAL Segmental Details For the three-month period ended 31 March 2024 Catering Segment Share of Revenue QR million • Revenue decreased compared to the previous year. last year revenue includes 100% Amwaj ownership. However current year revenue consider 30% share of r
Slide 27: Governance Structure
CLASSIFICATION: C0 - NON-CONFIDENTIAL Governance Structure
Slide 28: 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 29: 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 30: 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
Gulf International Services — Investor Presentation (March 2024) on 6ix