Qatar Navigation Qsc · QSE:QNNS

Qatar Navigation Qsc — Qatar Navigation (Milaha) — H1 2014 Earnings Presentation

13 slides from Qatar Navigation Qsc's earnings presentation, Jul 23, 2014

  1. Slide 1: H1 2014 Financials Conference Call

    H1 2014 Financials Conference Call Jul 23rd, 2014 Doha, Qatar 1

  2. Slide 2: Key Financial Highlights

    Key Financial Highlights Confidential ‐ Not for Distribution 2

  3. Slide 3: H1 2014 vs H1 2013

    H1 2014 vs H1 2013 (All amounts in QR 000’s, unless otherwise noted) 2014 2013 Variance OPERATING REVENUE 1,244,011 1,240,041 3,970  Revenue Up +0.3% Salaries, Wages & Benefits (308,611) (306,735) (1,876) Operating Supplies & Expenses (386,699) (288,143) (98,556) Rent Expense (28,824) (33,074) 4,25

  4. Slide 4: Pillar Overview

    Pillar Overview  Milaha Maritime & Logistics  Milaha Trading • Port Services • Travel & Tourism • Container Shipping • Equipment Trading Agency • Logistics • Marine Equipment Sales & Service • Bulk Shipping • Bunker Sales • Asset Management • Service/Repair Center • Shipyard • Shipping Agencies 

  5. Slide 5: Consolidated Statement of Income, by Pillar – H1 2014

    Consolidated Statement of Income, by Pillar – H1 2014 (All amounts in QR 000’s, unless otherwise noted) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 432,195 234,487 120,882 196,299 371,788 - (111,640) 1,244,011 Salar

  6. Slide 6: Consolidated Statement of Income, by Pillar – H1 2013

    Consolidated Statement of Income, by Pillar – H1 2013 (All amounts in QR 000’s, unless otherwise noted) Maritime & Gas & Eliminations/ Logistics Offshore Petrochem Trading Capital Corporate Adjustments Consolidated Operating Revenue 429,900 290,014 81,398 137,038 420,770 - (119,079) 1,240,041 Salari

  7. Slide 7: Pillar Performance

    Pillar Performance  +1% Revenue Growth and ‐43% Net Profit Decline vs 2013 o Revenue increase of QR 2M driven by: • 9% increased TEU volumes at Doha Port • Increased Import volumes in our Container Shipping unit • Increase in Bulk Shipping unit Chartering‐Out activities OFFSET BY • Much lower Conta

  8. Slide 8: Pillar Performance

    Pillar Performance  ‐19% Decline in Revenues and ‐74%  49% Growth in Revenues and 60% Growth in Decline in Net Profit vs 2013 Net Profit vs 2013 o Attributable to lower utilisation in o Operating Revenue up from Harbor vessels that Diving Operations unit from: we have been taking possession throug

  9. Slide 9: Pillar Performance

    Pillar Performance  43% Growth in Revenues and 115%  ‐12% Decline in Revenues and ‐15% Growth in Net Profit vs 2013 Decline in Net Profit vs 2013 o Revenue growth driven by increased o QR (30)M – in Q1 2013, we recorded Equipment and Bunker Sales gain on sale of AFS investments which did not recur

  10. Slide 10: Outlook

    Outlook  Overall, expect a stronger H2 than H1  Across the segment, clear focus on recovery for rest of 2014; multiple initiatives identified and under execution to control costs and drive incremental revenue  Export volumes expected to be back to normal in Q3, and therefore expect a stronger H2

  11. Slide 11: Outlook

    Outlook  Overall, H2 expected to be significantly better than H1, however recovery insufficient to reach 2013 full year figures  Deployment of new vessel DSV Shaddad in Q3 to provide a boost to both top and bottom line in diving services in H2  New vessels (PSV, AHTS) being delivered towards end

  12. Slide 12: Outlook

    Outlook  Expect rest of 2014 to continue to be strong overall  VLGC rates expected to dampen on average (but still strong overall) the rest of the year  Jointly owned LNG carriers: limited fluctuation due to long term nature of contracts  Fully‐owned product tanker earnings expected to weaken re

  13. Slide 13: Outlook

    Outlook  Expect to maintain the strong momentum in  Listed equity portfolio performance bound by H2 as sales of trucks and heavy equipment Qatar Exchange performance and volatility continue to grow  However, Q2 weakness already reversed  Strong pipeline of infrastructure projects in July being t

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