Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — FY2021 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Feb 10, 2022
Slide 1: FY 2021 Financial Summary Conference Call
FY 2021 Financial Summary Conference Call Doha, Qatar February 10, 2022
Slide 2: Consolidated Income Statement – Full Year
Consolidated Income Statement – Full Year (All amounts in QR Millions) 2019 2020 2021 Operating Revenue 2,425 2,267 2,784 Salaries, Wages and Other Benefits (588) (581) (603) Revenue 23% Operating Supplies and Expenses (1,001) (840) (1,328) Rent Expenses (7) (5) (7) Operating Profit -9% Depreciation
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 • Crude , Chemicals & • Strategic and
Slide 4: Net Profit, by Segment – Full Year
Net Profit, by Segment – Full Year (All amounts in QR Millions) +17% %’s shown vs 2020 496 427 423 +157% 247 +27% 199 159 125 86 78 -6% +79% (11) (11) (12) Maritime & Logistics Offshore Gas & Petrochem Trading Capital (118) (202) (556) Unfavorable Favorable 2019 2020 2021 4
Slide 5: Statement of Income, by Segment – Full Year 2021
Statement of Income, by Segment – Full Year 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
Slide 6: Statement of Income, by Segment – Full Year 2020
Statement of Income, by Segment – Full Year 2020 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 861 762 298 165 413 0 (231) 2,267 Salaries, Wages & Benefits (338) (73) (27) (12) (8) (122) -
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – Full Year (All amounts in QR Millions) Maritime & Logistics 2019 2020 2021 30% Increase in Revenue and 157% Increase in Net Profit Operating Revenue 953 861 1,118 o Operating Revenue increased QR 257m • Higher shipping rates boosted Container Shipping Revenue Salaries, Wages an
Slide 8: Segment Performance – Offshore Marine
Segment Performance – Full Year (All amounts in QR Millions) Offshore Marine 2019 2020 2021 27% Increase in Revenue and 79% Increase in Bottom Line Operating Revenue 752 762 964 o Operating Revenue increased QR 202m • Services revenue increased with addition of diving-related projects Salaries, Wage
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – Full Year (All amounts in QR Millions) Gas & Petrochem 2019 2020 2021 15% Decrease in Revenue and 17% Increase in Net Profit Operating Revenue 288 298 254 o Operating Revenue decreased by QR (44)m • Tankers decreased by (43)m due plummeting shipping rates Salaries, Wages and Ot
Slide 10: Segment Performance – Trading
Segment Performance – Full Year (All amounts in QR Millions) Trading 2019 2020 2021 87% Increase in Revenue and 6% Decrease in bottom line Operating Revenue 251 165 309 o Large increase in Bunker Sales revenue coming from expanded Salaries, Wages and Other Benefits (16) (12) (13) international marke
Slide 11: Segment Performance – Capital
Segment Performance – Full Year (All amounts in QR Millions) Capital 2019 2020 2021 1% Increase in Revenue and 27% Increase in Net Profit Operating Revenue 465 413 415 o QR 3M increase in Revenue: Salaries, Wages and Other Benefits (7) (8) (11) • +41m increase in Qatar Quarries gabbro sales Operatin
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • Expect network optimization initiated in 2021 to continue to improve margins • We expect the strong shipping rates witnessed in 2021 to continue through at least mid 2022 ➢Logistics • We expect uplift in warehousing & freight forwarding from new glo
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels • Continued focus on fleet composition (owned vs chartered) and optimization • Liftboat - vessel has been mobilized to Qatar in Q3 2021 and we are actively pursuing employment prospects ➢Offshore Services • Expect further scaling up in specialized su
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 product tanker • Sole remaining tanker is currently undergoing conversion to an FSO for a long-term contract that starts mid 2022 ➢1 Fully-owned gas / ammoni
Slide 15: Outlook – Trading
Outlook Trading ➢We expect benefits from reorganizing & investing in more sales capabilities ➢Continued focus on ship chandlering growth and other marine services growth ➢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/upside results expected for Real Estate holdings • Upside revenue from the new villa compound where tenancy contract commenced in Q3 2021 16
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