Qatar Navigation Qsc · QSE:QNNS
Qatar Navigation Qsc — Qatar Navigation (Milaha) — Q1 2021 Earnings Presentation
16 slides from Qatar Navigation Qsc's earnings presentation, Apr 25, 2021
Slide 1: Q1 2021 Financial Summary Conference Call
Q1 2021 Financial Summary Conference Call Doha, Qatar April 25, 2021
Slide 2: Consolidated Income Statement – Q1
Consolidated Income Statement – Q1 (All amounts in QR Millions) 2019 2020 2021 Operating Revenue 710 692 675 Salaries, Wages and Other Benefits (149) (153) (150) Revenue -2% Operating Supplies and Expenses (218) (205) (259) Rent Expenses (3) (2) (1) Operating Profit -34% Depreciation and Amortisatio
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 – Q1
Net Profit, by Segment – Q1 (All amounts in QR Millions) 177 182 %’s shown vs 2020 -5% 150 143 -40% 110 +40% 81 41 42 +103% 30 +58% 3 -3 -2 -1 Maritime & Logistics Offshore Gas & Petrochem Trading Capital (17) (78) Unfavorable 2019 2020 2021 Favorable 4
Slide 5: Statement of Income, by Segment – Q1 2021
Statement of Income, by Segment – Q1 2021 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 240 191 64 73 172 0 (64) 675 Salaries, Wages & Benefits (87) (19) (6) (3) (3) (33) - (150) Operating
Slide 6: Statement of Income, by Segment – Q1 2020
Statement of Income, by Segment – Q1 2020 (All amounts in QR Millions) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 250 203 78 56 200 - (95) 692 Salaries, Wages & Benefits (85) (19) (7) (3) (2) (38) - (153) Operating
Slide 7: Segment Performance – Maritime & Logistics
Segment Performance – Q1 (All amounts in QR Millions) Maritime & Logistics 2019 2020 2021 4% Decrease in Revenue and 40% Increase in Net Profit Operating Revenue 231 250 240 o Revenue decrease primarily from Container Shipping (incl Bulk) • (5)m drop in Container Feeder & Line Salaries, Wages and Ot
Slide 8: Segment Performance – Offshore Marine
Segment Performance – Q1 (All amounts in QR Millions) Offshore Marine 2019 2020 2021 6% Decrease in Revenue and 103% Increase in Bottom Line Operating Revenue 188 203 191 o Revenue decrease coming from Vessel Chartering & Services Salaries, Wages and Other Benefits (16) (19) (19) • 3rd party charter
Slide 9: Segment Performance – Gas & Petrochem
Segment Performance – Q1 (All amounts in QR Millions) Gas & Petrochem 2019 2020 2021 19% Decrease in Revenue and 5% Decrease in Net Profit Operating Revenue 80 78 64 o Revenue decreased by QR (14)m Salaries, Wages and Other Benefits (6) (7) (6) • Tankers decreased by (16)m due plummeting shipping ra
Slide 10: Segment Performance – Trading
Segment Performance – Q1 (All amounts in QR Millions) Trading 2019 2020 2021 29% Increase in Revenue and 58% Increase in bottom line Operating Revenue 57 56 73 o Increased sales in all units led to +1m decrease in net loss Salaries, Wages and Other Benefits (4) (3) (3) Operating Supplies and Expense
Slide 11: Segment Performance – Capital
Segment Performance – Q1 (All amounts in QR Millions) Capital 2019 2020 2021 14% Decrease in Revenue and 40% Decrease in Net Profit Operating Revenue 233 200 172 o QR (28)M decrease in Revenue: Salaries, Wages and Other Benefits (1) (2) (3) • +5m higher bond income Operating Supplies and Expenses (3
Slide 12: Outlook – Maritime & Logistics
Outlook Maritime & Logistics ➢QTerminals • Expect volume stability/increase at Hamad port ➢Container Shipping • Another lockdown in India has started with duration uncertain. COVID19 disruptions and their impact are difficult to predict. • Network optimization efforts are paying off with reduced cos
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 • All trading on spot and exposed to market volatility; short-term (2-3 mos) looks challenging ➢1 Fully-owned gas / ammonia
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 Q1 run rate, except for upside revenue in the new villa compound where a tenancy contract has been sign
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