Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — H1 2021 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Jul 25, 2021
Slide 1: H1 2021 Financial Summary Conference Call
H1 2021 Financial Summary Conference Call Doha, Qatar July 25, 2021
Slide 2: Consolidated Income Statement – H1
Consolidated Income Statement – H1 (All amounts in QR Millions) 2019 2020 2021 Operating Revenue 1,261 1,230 1,373 Salaries, Wages and Other Benefits (292) (292) (305) Revenue 12% Operating Supplies and Expenses (480) (407) (618) Rent Expenses (5) (3) (3) Operating Profit -43% Depreciation and Amort
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
Net Profit, by Segment – H1 (All amounts in QR Millions) %’s shown vs 2020 -13% 299 259 202 +53% 182 +52% 124 +41% 81 65 70 +90% 46 -3 -6 -6 Maritime & Logistics Offshore (12) Gas & Petrochem Trading Capital Unfavorable (128) (121) Favorable 2019 2020 2021 4
Slide 5: Statement of Income, by Segment – H1 2021
Statement of Income, by Segment – H1 2021 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 501 474 132 158 237 0 (129) 1,373 Salaries, Wages & Benefits (179) (39) (12) (6) (6) (62) - (305) Op
Slide 6: Statement of Income, by Segment – H1 2020
Statement of Income, by Segment – H1 2020 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 443 397 165 89 260 - (124) 1,230 Salaries, Wages & Benefits (167) (36) (14) (6) (4) (66) - (292) Ope
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – H1 (All amounts in QR Millions) Maritime & Logistics 2019 2020 2021 13% Increase in Revenue and 52% Increase in Net Profit Operating Revenue 459 443 501 o Operating Revenue increased QR 59m • 5% volume increase + higher shipping rates boosted Container Salaries, Wages and Other
Slide 8: Segment Performance – Offshore Marine
Segment Performance – H1 (All amounts in QR Millions) Offshore Marine 2019 2020 2021 19% Increase in Revenue and 90% Increase in Bottom Line Operating Revenue 366 397 474 o Operating Revenue increased QR 77m • Services revenue increased with addition of diving-related projects Salaries, Wages and Ot
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – H1 (All amounts in QR Millions) Gas & Petrochem 2019 2020 2021 20% Decrease in Revenue and 13% Decrease in Net Profit Operating Revenue 143 165 132 o Operating Revenue decreased by QR (33)m • Tankers decreased by (27)m due plummeting shipping rates Salaries, Wages and Other Ben
Slide 10: Segment Performance – Trading
Segment Performance – H1 (All amounts in QR Millions) Trading 2019 2020 2021 78% Increase in Revenue and 41% Increase in bottom line Operating Revenue 140 89 158 o Increased sales in all units led to +2m decrease in net loss Salaries, Wages and Other Benefits (8) (6) (6) o Travel & Tourism unit shut
Slide 11: Segment Performance – Capital
Segment Performance – H1 (All amounts in QR Millions) Capital 2019 2020 2021 9% Decrease in Revenue and 53% Increase in Net Profit Operating Revenue 308 260 237 o QR (23)M decrease in Revenue: Salaries, Wages and Other Benefits (3) (4) (6) • +25m increase in Qatar Quarries gabbro sales Operating Sup
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢QTerminals • Expect volume stability/increase at Hamad port; COVID19 related expenses still weighing down results ➢Container Shipping • Network optimization efforts are paying off with reduced costs and improved margins • Strong shipping rates witnessed thus far this ye
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels • Optimistic for the rest of year based on pipeline and projects under contract • Vessel offhires due to COVID19 have been sporadic and relatively minimal but are difficult to predict going forward ➢Harbor Operations • Expect stable revenue throughou
Slide 14: Outlook – Gas & Petrochem
Outlook Gas & Petrochem ➢Jointly & Fully owned LNG carriers • Fairly stable earnings due to long term fixed nature of contracts ➢2 Fully-owned product tankers + 1 crude carrier • 2 tankers have been sold. Last remaining tanker trading on spot and exposed to market volatility; will be going through a
Slide 15: Outlook – Trading
Outlook Trading ➢Cautiously optimistic based on sales pipeline 15
Slide 16: Outlook – Capital
Outlook Capital ➢Limited Investments volatility • Held for Trading Portfolio liquidated ➢Stable/upside results expected for Real Estate holdings • Real Estate income expected to remain stable with H1 run rate, except for upside revenue in the new villa compound where a tenancy contract has been sign
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