Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — FY2022 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Feb 16, 2023
Slide 1: FY 2022 Financial Summary Conference Call
FY 2022 Financial Summary Conference Call Doha, Qatar February 16, 2023
Slide 2: Consolidated Income Statement – Full Year
Consolidated Income Statement – Full Year (All amounts in QR Millions) 2020 2021 2022 Operating Revenue 2,267 2,784 3,285 Salaries, Wages and Other Benefits (581) (603) (632) Revenue 18% Operating Supplies and Expenses (840) (1,328) (1,563) Rent Expenses (5) (7) (8) Operating Profit before Impairmen
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 • Diving & Subsea • Bunker Distribution • Warehousing & Services • Floating Storage and • Strategic and
Slide 4: Net Profit, by Segment – Full Year
Net Profit, by Segment – Full Year (All amounts in QR Millions) %’s shown vs 2021 +14% 565 496 +43% 423 284 -43% 199 +167% 159 +58% 125 78 90 78 (11) (5) (12) Maritime & … Offshore Gas & Petrochem Trading Capital Logistics (556) Unfavorable Favorable 2020 2021 2022 4
Slide 5: Statement of Income, by Segment – FY 2022
Statement of Income, by Segment – FY 2022 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 1,404 1,212 219 327 540 - (415) 3,285 Salaries, Wages & Benefits (346) (93) (26) (16) (12) (139) - (
Slide 6: Statement of Income, by Segment – FY 2021
Statement of Income, by Segment – FY 2021 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 1,118 964 254 309 415 0 (278) 2,784 Salaries, Wages & Benefits (357) (81) (21) (13) (11) (120) - (60
Slide 7: Segment Performance Maritime & Logistics
Segment Performance – Full Year (All amounts in QR Millions) Maritime & Logistics 26% Increase in Revenue and 43% Increase in Net Profit o Operating Revenue increased QR 286m • High shipping rates from mid 2021 through 2022 boosted Container Shipping Revenue • Logistics/Shipyard benefitted from high
Slide 8: Segment Performance Offshore Marine
Segment Performance – Full Year (All amounts in QR Millions) Offshore Marine 26% Increase in Revenue and 167% Increase in Bottom Line o Operating Revenue increased QR 247m • Vessel chartering revenue increased from additional work + employment of Liftboat which was idle in 2021 • Services revenue in
Slide 9: Segment Performance Gas & Petrochem
Segment Performance – Full Year (All amounts in QR Millions) Gas & Petrochem 14% Decrease in Revenue and 14% Increase in Net Profit o Operating Revenue decreased by QR (36)m • Revenue drop attributable to sale of 2 tankers & 1 gas carrier • Conversion of 3rd tanker to FSO partially offset revenue dr
Slide 10: Segment Performance Trading
Segment Performance – Full Year (All amounts in QR Millions) Trading 2020 2021 2022 6% Increase in Revenue and 58% Increase in bottom line Operating Revenue 165 309 327 o Increased sales of marine-related equipment and heavy equipment & Salaries, Wages and Other Benefits (12) (13) (16) spares, offse
Slide 11: Segment Performance Capital
Segment Performance – Full Year (All amounts in QR Millions) Capital 30% Increase in Revenue and 43% Decrease in Net Profit o QR 124m increase in Revenue: • +71m increase in Qatar Quarries gabbro sales • +30m higher fixed deposit/other income • +13m increase in dividend income • +11m increase in Rea
Slide 12: Outlook Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • Overall shipping rates are expected to normalize back to pre-COVID levels ➢Logistics • We expect a slowdown in warehousing & freight forwarding activities in the first half of 2023, but expect a pickup in the second half of the year 12
Slide 13: Outlook Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels / Services • Expect to see growth in this segment on the back of strong Oil & Gas activities in Qatar and from our continued focus on scaling up specialized subsea services and MMO (Maintenance, Modification & Operations) ➢Harbor Operations • Expect
Slide 14: Outlook Gas & Petrochem
Outlook Gas & Petrochem ➢Jointly & Fully owned LNG carriers • Fairly stable earnings 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 ➢Gulf LPG VL
Slide 15: Outlook Trading
Outlook Trading ➢Continued focus on the growth of ship chandlering and other marine services ➢Focus on margin improvement across the segment 15
Slide 16: Outlook Capital
Outlook Capital ➢Limited Investments volatility • Continued focus on yield enhancement of the financial portfolio ➢Stable results expected from our Real Estate holdings 16
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