Gulf International Services Qsc · QSE:GISS
Gulf International Services Qsc — Gulf International Services Q.P.S.C. — Shareholder Meeting (April 2020)
20 slides from Gulf International Services Qsc's shareholder meeting presentation, Apr 12, 2020
Slide 1: Ordinary General Assembly Meeting
Gulf International Services Q.P.S.C. Ordinary General Assembly Meeting 12 April 2020
Slide 2: Agenda of the Ordinary General Assembly meeting
Agenda of the Ordinary General Assembly meeting 1. Listen to the Chairman's Message for the financial year ended December 31, 2019. 2. Listen and approve the Board of Directors' Report on GIS’ operations and financial performance for the financial year ended December 31, 2019, and the plans of the c
Slide 3: 1. Listen to the Chairman's Message for 2019
1. Listen to the Chairman's Message for the financial year ended December 31, 2019
Slide 4: 2. Approve Board of Directors' Report
2. Listen and approve the Board of Directors' Report on GIS’ operations and financial performance for the financial year ended December 31, 2019, and the plans of the company
Slide 5: Group: Net Profits and Revenue
Group: Net Profits and Revenue Revenue (QR million) Net profit (QR million) Revenue up by 20%. Increase Net profit up notably on last noted across all segments. The year. Actual profit were offset insurance segment reported the mainly by the reduction in the highest growth among all. insurance segme
Slide 6: Drilling Segment
Drilling Segment 2019 performance: Revenue (QR billion) o Addition of West Tucana to the rig fleet and Rumailah rig being brought back to operation. o Reduction on direct costs by QR 35 million and savings on General and Administrative expenses QR 23 million Net Loss compared to last year. (QR milli
Slide 7: Aviation Segment
Aviation Segment 2019 performance: Revenue (QR million) o Secured short-term contracts in Africa, Europe and Middle East. o Improved performance of Turkish subsidiary. o The domestic aviation business, Net Profit (QR million) continued its positive business trajectory. o Acquired 49% stake in Air Oc
Slide 8: Insurance Segment
Insurance Segment Revenue 2019 performance: (QR million) o New businesses gained in both the medical and energy segments, with new international clients added to the portfolio o Successful renewal of policies on all major accounts, provided an assurance Net Profit of continued revenue streams. (QR m
Slide 9: Catering Segment
Catering Segment Revenue 2019 performance: (QR million) o Expanded domestic client base through effective pricing and cost-modeling. o Began a series of rationalization measures that put in on a sounder Net Profit (QR million) financial footing. Gulf International Services, Annual General Assembly M
Slide 10: Group Debt restructuring – Under Process
Group Debt restructuring – Under Process Total Facility size: USD 1.3 billion (Combined at GIS and GDI level) Optimize finance cost for GIS group, adding shareholder value Achieve sustainable debt level for GDI Allowing Better liquidity Flexibility to gradual Balanced and position with drive Group’s
Slide 11: 3. Listen and approve the Auditors' Report
3. Listen and approve the Auditors' Report on GIS’ consolidated financial statements for the financial year ended December 31, 2019
Slide 12: 4. Discuss and approve consolidated financial statements
4. Discuss and approve GIS’ consolidated financial statements for the financial year ended December 31, 2019
Slide 13: 5. Present and approve 2019 Corporate Governance Report
5. Present and approve 2019 Corporate Governance Report
Slide 14: Corporate Governance Report
Corporate Governance Report o GIS Board of Directors is firmly committed to implementing the principles of governance set out in the Governance Code for Companies and Legal Entities Listed on the Main Market issued by Qatar Financial Markets Authority (QFMA) pursuant to QFMA Board decision no. 5 of
Slide 15: 6. Approve recommendation for no dividend payment
6. Approve the Board's recommendation for no dividend payment for the financial year ended December 31, 2019
Slide 16: 7. Absolve the Board of Directors from responsibility
7. Absolve the Board of Directors from responsibility for the year 2019
Slide 17: Board of Directors remuneration
Board of Directors remuneration Shareholder approval of the following: o Discharge the Company’s Board of Directors from the responsibility for their actions for the year ended December 31, 2019 ٢,٥١٩ o According to the recommendations of the Company’s Remuneration Committee under the mechanism ment
Slide 18: 8. Appoint an external auditor for 2020
8. Appoint an external auditor for the financial year ending December 31, 2020 and approve their fees
Slide 19: Appointment of the independent external auditors
Appointment of the independent external auditors • KPMG has completed two years as Company’s external auditors • Recommendation to approve the appointment of KPMG as the external auditor of Gulf International Services Company for ٢,٥١٩ the year ending December 31, 2020, with a total fee of QR 337,00
Slide 20: Thank you
Bulf International Services asc Thank you
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