Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — YTD Q3 2022 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Oct 20, 2022
Slide 1: YTD Q3 2022 Financial Summary Conference Call
YTD Q3 2022 Financial Summary Conference Call Doha, Qatar October 20, 2022
Slide 2: Consolidated Income Statement – YTD Q3
Consolidated Income Statement – YTD Q3 (All amounts in QR Millions) 2020 2021 2022 Operating Revenue 1,722 2,035 2,563 Salaries, Wages and Other Benefits (429) (454) (472) Revenue 26% Operating Supplies and Expenses (599) (942) (1,237) Rent Expenses (2) (5) (6) Operating Profit before Impairments 12
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 – YTD Q3
Net Profit, by Segment – YTD Q3 (All amounts in QR Millions) %’s shown vs 2021 +14% 469 441 412 +99% 254 -51% 128 139 +471% +2% 100 69 68 66 (8) (18) (6) (6) Maritime & Offshore Gas & Petrochem Trading Capital Logistics (218) Unfavorable Favorable 2020 2021 2022 4
Slide 5: Statement of Income, by Segment – YTD Q3 2022
Statement of Income, by Segment – YTD Q3 2022 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 1,094 909 160 244 425 - (268) 2,563 Salaries, Wages & Benefits (261) (68) (17) (12) (9) (104) -
Slide 6: Statement of Income, by Segment – YTD Q3 2021
Statement of Income, by Segment – YTD Q3 2021 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 787 702 197 249 304 0 (204) 2,035 Salaries, Wages & Benefits (268) (60) (16) (9) (8) (91) - (454
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – YTD Q3 (All amounts in QR Millions) Maritime & Logistics 2020 2021 2022 39% Increase in Revenue and 99% Increase in Net Profit Operating Revenue 644 787 1,094 o Operating Revenue increased QR 307m Salaries, Wages and Other Benefits (244) (268) (261) • High shipping rates from m
Slide 8: Segment Performance – Offshore Marine
Segment Performance – YTD Q3 (All amounts in QR Millions) Offshore Marine 2020 2021 2022 29% Increase in Revenue and 471% Increase in Bottom Line Operating Revenue 581 702 909 o Operating Revenue increased QR 207m Salaries, Wages and Other Benefits (56) (60) (68) • Vessel chartering revenue increase
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – YTD Q3 (All amounts in QR Millions) Gas & Petrochem 2020 2021 2022 19% Decrease in Revenue and 14% Increase in Net Profit Operating Revenue 237 197 160 o Operating Revenue decreased by QR (37)m Salaries, Wages and Other Benefits (20) (16) (17) • Revenue drop attributable to sal
Slide 10: Segment Performance – Trading
Segment Performance – YTD Q3 (All amounts in QR Millions) Trading 2020 2021 2022 2% Decrease in Revenue and 2% Increase in bottom line Operating Revenue 127 249 244 o Slightly higher margin sales of marine-related equipment partially offset Salaries, Wages and Other Benefits (9) (9) (12) lower bunke
Slide 11: Segment Performance – Capital
Segment Performance – YTD Q3 (All amounts in QR Millions) Capital 2020 2021 2022 39% Increase in Revenue and 51% Decrease in Net Profit Operating Revenue 318 304 425 o QR 120m increase in Revenue: Salaries, Wages and Other Benefits (6) (8) (9) • +72m increase in Qatar Quarries gabbro sales Operating
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢Container Shipping • Overall shipping rates expected to continue decline rest of year ➢Logistics • We expect an uplift in warehousing & freight forwarding during Q4 coming mainly from World Cup-related activities 12
Slide 13: Outlook – Offshore Marine
Outlook Offshore Marine ➢Offshore Support Vessels / Services • Continue to focus on scaling up in specialized subsea services and MMO (Maintenance, Modification & Operations) and ensuring employment of vessels; overall expect stable results • New 5-year Liftboat contract signed ➢Harbor Operations •
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 • Is employed on long-term contract so expect stable earnings ➢Results from Associates • Expect stable growth from Nakilat share ➢Gulf LPG VLGC Joint Ven
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 results expected for Real Estate holdings 16
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