Qatar Navigation Qsc · QSE:QNNS

Qatar Navigation Qsc — Qatar Navigation (Milaha) — H1 2015 Earnings Presentation

17 slides from Qatar Navigation Qsc's earnings presentation, Aug 3, 2015

  1. Slide 1: H1 2015 Financials Conference Call

    H1 2015 Financials Conference Call Aug 3rd, 2015 Doha, Qatar 1

  2. Slide 2: Quarterly Financial Highlights

    Quarterly Financial Highlights (All amounts in QR Millions) Revenue Net Profit 900 800 800 786 729 700 703699 721 700 653 600 600 560 537 545 515 500 500 400 344 350 365 400 287 303 300 300 229 228 209 200 171 172 200 100 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2014 2015 2013 2014 2015 2

  3. Slide 3: Statement of Income, Consolidated

    Statement of Income, Consolidated (All amounts in QR Millions) 2013 2014 2015 OPERATING REVENUE 1,240 1,244 1,507  Revenue Up +21% Salaries, Wages and Benefits (307) (309) (342) Operating Supplies and Expenses Rent Expenses (288) (33) (387) (29) (467) (8)  Operating Profit up +31% Depreciation and

  4. Slide 4: Activities by Segment

    Activities by Segment Maritime & Gas & Offshore Trading Capital Logistics Petrochem • Port Services • Vessel Charter & • LNG Transport • Heavy Equipment • Real Estate Operations and Truck Agency Development and • Container Shipping • LPG Transport Management • Diving & Subsea • Bunker Distribution •

  5. Slide 5: Net Income, by Segment – H1

    Net Income, by Segment – H1 (All amounts in QR Millions) %’s shown vs 2014 297 +29% ‐8% 253 250 230 v 196 +119% 122 93 +151% 79 70 55 +108% 42 22 21 4 10 Maritime & Logistics Offshore Gas & PetroChem Trading Capital Unfavorable 2013 2014 2015 Favorable 5

  6. Slide 6: Statement of Income, by Segment – H1 2015

    Statement of Income, by Segment – H1 2015 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 548 331 152 244 343 - (111) 1,507 Salaries, Wages and Benefits (100) (121) (42) (10) (5) (64) 0 (342

  7. Slide 7: Statement of Income, by Segment – H1 2014

    Statement of Income, by Segment – H1 2014 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 432 234 121 196 372 - (112) 1,244 Salaries, Wages and Benefits (98) (86) (43) (9) (5) (73) 4 (309) O

  8. Slide 8: Segment Performance – Maritime & Logistics

    Segment Performance – H1 (All amounts in QR Millions) 2013 2014 2015 +27% Revenue Growth and +119% Net Profit OPERATING REVENUE 430 432 548  Salaries, Wages and Benefits (91) (98) (100) Growth vs 2014 Operating Supplies and Expenses (166) (179) (208) Rent Expenses (2) (3) (5) o Revenue increase of

  9. Slide 9: Segment Performance – Offshore

    Segment Performance – H1 (All amounts in QR Millions) 2013 2014 2015 OPERATING REVENUE 290 234 331  +41% Revenue Growth and +151% Net Profit Salaries, Wages and Benefits (93) (86) (121) Growth vs 2014 Operating Supplies and Expenses (42) (44) (59) Rent Expenses (3) (3) (3) o Revenue increase of QR

  10. Slide 10: Segment Performance – Gas & Petrochem

    Segment Performance – H1 (All amounts in QR Millions) 2013 2014 2015 +26% Revenue Growth and +29% Net Profit Growth OPERATING REVENUE 81 121 152  Salaries, Wages and Benefits (40) (43) (42) vs 2014 Operating Supplies and Expenses (16) (26) (19) Rent Expenses (1) (1) (2) o Revenue increase of QR 31M

  11. Slide 11: Segment Performance – Trading

    Segment Performance – H1 (All amounts in QR Millions) 2013 2014 2015 +24% Revenue Growth and +108% Net Profit OPERATING REVENUE 137 196 244  Salaries, Wages and Benefits (8) (9) (10) Growth vs 2014 Operating Supplies and Expenses (112) (164) (205) Rent Expenses (1) (1) (1) o Revenue increase of QR

  12. Slide 12: Segment Performance – Capital

    Segment Performance – H1 (All amounts in QR Millions)  8% Decline in Revenues and 8% Decline in Net OPERATING REVENUE 421 372 343 Profit vs 2014 Salaries, Wages and Benefits (8) (5) (5) Operating Supplies and Expenses (65) (66) (75) o Revenue decreased QR (29)M , driven by Rent Expenses (25) (25) (

  13. Slide 13: Outlook – Maritime & Logistics

    Outlook  Macro: Expect trade volumes to remain strong with positive impact on revenues across most business units in the segment  Ports: Expect that additional revenue realized in H1 2015 from change in free yard storage tariff from 10 days to 3, will continue throughout the year and expect contai

  14. Slide 14: Outlook – Offshore

    Outlook  Macro: Global offshore marine market downturn continues as E&P capex is slashed in response to lower oil prices; downward pressure on day rates and utilization likely  At this stage, still expect a much stronger year overall relative to 2014 despite downturn  Full year revenues on DSV Sh

  15. Slide 15: Outlook – Gas & Petrochem

    Outlook  VLGCs: Have been put on long term charter in strong market; limited volatility  Jointly owned LNG carriers: limited fluctuation due to long term fixed nature of contracts; impact of increasing stake in 2 LNG carriers from 40% to 100% will hit H2 numbers, with a shift in reporting from inv

  16. Slide 16: Outlook – Trading

    Outlook  Expect a strong year overall driven by sales of trucks and heavy equipment tied to infrastructure projects, but quarterly results could be patchy due to nature of sales cycles 16

  17. Slide 17: Outlook – Capital

    Outlook  Listed portfolio performance strongly correlated to Qatar Exchange performance and volatility  Real estate to continue to realize savings to bottom line from moving HQ to owned facility vs leased (occurred early Q4 2014); H2 should see small revenue bump from renting out commercial showro

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