Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — YTD Q3 2025 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Oct 30, 2025
Slide 1: YTD Q3 2025 Financial Summary Conference Call
YTD Q3 2025 Financial Summary Conference Call Doha, Qatar October 30, 2025
Slide 2: Consolidated Income Statement – YTD Q3
Consolidated Income Statement – YTD Q3 (All amounts in QR Millions) %’s shown vs 2024 2
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 • Subsea Services • Bunker Distribution • Warehousing & • Floating Storage and • Strategic and Logistic
Slide 4: Net Profit, by Segment – YTD Q3
Net Profit, by Segment – YTD Q3 (All amounts in QR Millions) Unfavorable +21% Favorable 652 %’s shown vs 2024 537 506 -16% +41% 252 209 201 211 169 148 +100% -8% (7) (6) 0 0 (13) Maritime & Offshore Gas & Petrochem Trading (14) Capital Logistics 2023 2024 2025 4
Slide 5: Statement of Income, by Segment – YTD Q3 2025
Statement of Income, by Segment – YTD Q3 2025 (All amounts in QR Millions) Maritime Gas & Eliminations/ & Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 661 1,382 240 154 314 - (292) 2,458 Salaries, Wages and Other Benefits (247) (165) (28) (18) (10
Slide 6: Statement of Income, by Segment – YTD Q3 2024
Statement of Income, by Segment – YTD Q3 2024 (All amounts in QR Millions) Maritime & Offshore & Gas & Eliminations/ Logistics Marine Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 620 1,062 183 152 349 - (233) 2,131 Salaries, Wages & Benefits (230) (133) (23) (20) (1
Slide 7: Segment Performance Maritime & Logistics
Segment Performance – YTD Q3 (All amounts in QR Millions) Maritime & Logistics 7% Increase in Revenue and 100% Increase in Bottom Line 2023 2024 2025 Operating Revenue 618 620 661 o Operating Revenue increased QR 41m • +63m Container Shipping driven by higher rates since opening of China routes Sala
Slide 8: Segment Performance Offshore & Marine
Segment Performance – YTD Q3 (All amounts in QR Millions) Offshore & Marine 30% Increase in Revenue and 41% Increase in Net Profit 2023 2024 2025 Operating Revenue 1,112 1,062 1,382 o Operating Revenue increased QR 320m • +177m Vessel Chartering and +151m Services increases driven by Salaries, Wages
Slide 9: Segment Performance Gas & Petrochem
Segment Performance – YTD Q3 (All amounts in QR Millions) Gas & Petrochem 2023 2024 2025 31% Increase in Revenue and 21% Increase in Net Profit Operating Revenue 179 183 240 o Operating Revenue increased by QR 57m Salaries, Wages and Other Benefits (22) (23) (28) • +51m from 2 VLGCs that we took 100
Slide 10: Segment Performance Trading
Segment Performance – YTD Q3 (All amounts in QR Millions) Trading 2023 2024 2025 2% Increase in Revenue and 8% Decrease in bottom line Operating Revenue 188 152 154 o Higher lower-margin sales from Marine & Bunker were offset by a Salaries, Wages and Other Benefits (13) (20) (18) decline in heavy eq
Slide 11: Segment Performance Capital
Segment Performance – YTD Q3 (All amounts in QR Millions) Capital 2023 2024 2025 10% Decrease in Revenue and 16% Decrease in Net Profit Operating Revenue 357 349 314 o QR (34)m decrease in Revenue Salaries, Wages and Other Benefits (16) (10) (10) • -20m lower overall Investment income, driven by -33
Slide 12: Outlook Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • Uncertainty over shipping rates given political & economic trade and tariff issues ➢Freight Logistics • Environment remains very competitive and challenging, but we’re optimistic that new product & service offerings and turnaround efforts will impro
Slide 13: Outlook Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels / Services • Expect steady strong performance on the back of strong Oil & Gas activities in Qatar and from our continued focus on scaling up specialized services ➢Harbor Operations • Expect stable revenue throughout the year given that most of the ve
Slide 14: Outlook Gas & Petrochem
Outlook Gas & Petrochem ➢Jointly & Fully owned LNG carriers • Stable revenue due to long term fixed nature of contracts ➢1 Fully-owned FSO • Asset is employed on a long-term contract so expect stable earnings ➢Results from Associates • Expect stable growth from our Nakilat stake 14
Slide 15: Outlook Trading
Outlook Trading ➢Immediate focus on optimization ➢Continued focus on the growth of ship chandlering and other marine services, and margin improvement 15
Slide 16: Outlook Capital
Outlook Capital ➢Limited Investments volatility • Stable results and continued focus on yield enhancement of the financial portfolio ➢Stable results expected from our Real Estate holdings 16
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