YTD Sep 2018 Financial Summary Conference Call. November 5, 2018 Doha, Qatar

Transcription

1 YTD Sep 2018 Financial Summary Cnference Call Nvember 5, 2018 Dha, Qatar 1

2 Interim Cnslidated Incme Statement YTD Sep (All amunts in QR Millins) Operating Revenue 1,990 1,656 1,810 Salaries, Wages and Other Benefits (487) (401) (421) Revenue Up 9% Operating Supplies and Expenses (616) (673) (689) Rent Expenses (12) (10) (12) Operating Prfit Up 57% Depreciatin and Amrtisatin (245) (262) (246) Other Operating Expenses (118) (109) (128) Net Prfit Up 10% Operating Expenses (1,477) (1,456) (1,497) Operating Prfit Finance Csts (131) (154) (116) Finance Incme Net Gain n Dispsal f Prperty, Vessels & Equipment (4) (7) (1) Share f Results f Assciates Share f Results f Jint Arrangements Impairment f Available-fr-Sale Investments - (21) - Net Gain n Freign Exchange 1 (2) 2 Impairment f Vessels & Cntract Wrk in Prgress - (60) (183) Miscellaneus Incme All Other Nn-Operating Expenses Nn-Operating Prfit ,990 1,656 1,810 Prfit fr the Perid Nn-cntrlling interest (3) (11) 1 Net Prfit Attributable T Equity Hlders Of The Parent Revenue Net Incme 2

3 Activities by Segment Maritime & Lgistics Offshre Gas & Petrchem Trading Capital Prt Services Cntainer Shipping Warehusing & Lgistics Bulk Shipping Shipyard Shipping Line Agencies Vessel Charter & Operatins Diving & Subsea Services Cnstructin and Maintenance Services Well Services LNG Transprt LPG Transprt Crude, Chemicals & CPP Transprt Whlly Owned Prduct/Gas Carriers Harbr Marine Operatins Heavy Equipment and Truck Agency Bunker Distributin Marine Engine and Lubricants Agency Travel & Turism Agency Real Estate Develpment and Management Strategic and Financial Investments 3

4 Net Prfit, by Segment YTD Sep (All amunts in QR Millins) 126% % s shwn vs % -64% 78% -136% Unfavrable Favrable 4

5 Statement f Incme, by Segment YTD Sep 2018 (All amunts in QR Millins) Maritime & Lgistics Offshre Gas & Petrchem Trading Capital Crprate Eliminatins/ Adjustments Cnslidated Operating Revenue (202) 1,810 Salaries, Wages & Benefits (101) (132) (79) (12) (6) (92) - (421) Operating Supplies & Expenses (433) (81) (46) (205) (85) (4) 164 (689) Rent (31) (6) (1) (1) (3) (7) 38 (12) Depreciatin & Amrtizatin (23) (87) (90) (1) (43) (2) - (246) Other Operating Expenses (41) (40) (19) (3) (8) (17) 0 (128) Fleet & Technical Expense Allcatin (29) Expense Allcatin frm Milaha Crprate (55) (21) (23) (10) (12) (0) Operating Prfit (35) (3) Finance Csts (24) (38) (38) - (26) - 9 (116) Finance Incme (9) 48 Net Gain n Dispsal f Prperty, Vessels & Equipment 0 (2) 1 0 (0) (0) - (1) Share f Results f Assciates Share f Results f Jint Arrangements (21) Impairment f Available-fr-Sale Investments Net Gain n Freign Exchange (0) (0) (0) Impairment f Vessels and Cntract Wrk in Prgress (43) - (140) (183) Miscellaneus Incme All Other Nn-Operating Expenses Prfit fr the Perid 44 (19) 75 (2) 300 (0) Nn-cntrlling interest Net Prfit Attributable T Equity Hlders Of The Parent 44 (19) 75 (2) 301 (0)

6 Statement f Incme, by Segment YTD Sep 2017 (All amunts in QR Millins) Maritime & Lgistics Offshre Gas & Petrchem Trading Capital Crprate Eliminatins/ Adjustments Cnslidated Operating Revenue (197) 1,656 Salaries, Wages & Benefits (95) (119) (75) (12) (6) (94) - (401) Operating Supplies & Expenses (391) (80) (45) (187) (145) (4) 178 (673) Rent (7) (7) (1) (2) (3) (10) 18 (10) Depreciatin & Amrtizatin (45) (85) (101) (1) (27) (3) - (262) Other Operating Expenses (23) (37) (25) (4) (8) (13) 0 (109) Fleet & Technical Expense Allcatin (30) Expense Allcatin frm Milaha Crprate (56) (24) (22) (12) (11) Operating Prfit 10 (1) (0) (0) 200 Finance Csts (9) (28) (41) - (82) - 6 (154) Finance Incme (6) 122 Net Gain n Dispsal f Prperty, Vessels & Equipment (3) (3) - (0) (7) Share f Results f Assciates Share f Results f Jint Arrangements (21) Impairment f Available-fr-Sale Investments (21) - - (21) Net Gain n Freign Exchange (0) (0) (1) (0) (0) 0 - (2) Impairment f Vessels and Cntract Wrk in Prgress (3) (57) (60) Miscellaneus Incme All Other Nn-Operating Expenses Prfit fr the Perid 100 (86) (0) (0) 374 Nn-cntrlling interest (11) - - (11) Net Prfit Attributable T Equity Hlders Of The Parent 100 (86) (0) (0) 363 6

7 Segment Perfrmance YTD Sep (All amunts in QR Millins) 3% Increase in Revenue and 55% decline in Net Prfit Operating Revenue Revenue increase driven by Lgistics & Cntainer Shipping units Lgistics increase driven by freight frwarding unit & warehusing Cntainer Feedering vlumes are dwn, but NVOCC vlumes up Prt (excluding QTerminals) dwn due t ne-ff wrk in 2017 Operating Expenses are up QR (66)M Operating Supplies & Expenses increase driven by assciated csts related t revenue increase in Cntainer Shipping & Lgistics Rent expense increase tied t pening f Lgistics warehuses Salaries, Wages and Other Benefits (156) (95) (101) Operating Supplies and Expenses (329) (391) (433) Rent Expenses (6) (7) (31) Depreciatin and Amrtisatin (31) (45) (23) Other Operating Expenses (23) (23) (41) Fleet & Technical Expense Allcatin (40) (30) (29) Expense Allcatin frm Milaha Crprate (54) (56) (55) Operating Expenses (638) (647) (713) Operating Prfit (35) Nn-Operating Incme/(Expense) (10) Nn-Operating Incme is dwn QR (10)M Milaha s QTerminals share increased by QR 40M vs 2017 Cntainer vessel impairments increased by QR (40)M Shipyard Shipping Agencies Prt Services Prfit fr the Perid Cntainer Shipping 407 Revenue Waterfall 2017 vs Lgistics Bulk Shipping Lgistics Cntainer Shipping Shipping Agencies Shipyard Bulk Shipping Prt Services

8 Segment Perfrmance YTD Sep (All amunts in QR Millins) 9% Increase in Revenue and 78% Increase in bttm line Operating Revenue Revenue increase in Vessel Chartering Average utilizatin increased frm 65% in 2017 t 80% in 2018 Liftbat peratinal in Africa mid 2018, whereas idle in 2017 Revenue decrease in Services mainly due t rate discunts applied in Q Nn-Operating Expenses decreased by 51M N vessel impairments recrded in 2018, whereas in 2017 QR (57)M f impairments bked Salaries, Wages and Other Benefits (139) (119) (132) Operating Supplies and Expenses (83) (80) (81) Rent Expenses (5) (7) (6) Depreciatin and Amrtisatin (86) (85) (87) Other Operating Expenses (42) (37) (40) Expense Allcatin frm Milaha Crprate (25) (24) (21) Operating Expenses (380) (351) (367) Operating Prfit 58 (1) 15 Nn-Operating Incme/(Expense) (18) (84) (33) Prfit fr the Perid 40 (86) (19) Services Vessel Chartering 249 Revenue Waterfall 2017 vs Vessel Chartering Services

9 Segment Perfrmance YTD Sep (All amunts in QR Millins) Negligible Increase in Revenue and 64% Decline in Net Prfit Operating Revenue Depreciatin & Amrtizatin dwn QR 11M due t impact f past impairments Nn-Operating Incme dwn QR (143)M QR (140)M in vessel impairments bked in 2018 QR (19)M related t Harbur Operatins ne-time Penalty Incme recrded in Q QR 16M in higher Nakilat incme Salaries, Wages and Other Benefits (78) (75) (79) Operating Supplies and Expenses (50) (45) (46) Rent Expenses (3) (1) (1) Depreciatin and Amrtisatin (97) (101) (90) Other Operating Expenses (28) (25) (19) Fleet & Technical Expense Allcatin Expense Allcatin frm Milaha Crprate (22) (22) (23) Operating Expenses (238) (237) (230) Operating Prfit Nn-Operating Incme/(Expense) Prfit fr the Perid Owned LNG Vessels Gas Carriers Tankers Harbur Operatins Tanker Partnerships Harbur Operatins Revenue Waterfall 2017 vs 2018 Gas Carriers LNG Vessels Tankers Partnerships

10 Segment Perfrmance YTD Sep (All amunts in QR Millins) 4% Increase in Revenue and QR 8M Decline in Net Prfit Operating Revenue Large drp in sales f heavy equipment ffset by increase in bunker and marine lubricant sales Increase in revenue had a knck-n effect increase in assciated Cst-f-Gds-Sld Salaries, Wages and Other Benefits (15) (12) (12) Operating Supplies and Expenses (205) (187) (205) Rent Expenses (2) (2) (1) Depreciatin and Amrtisatin (1) (1) (1) Other Operating Expenses (2) (4) (3) Expense Allcatin frm Milaha Crprate (12) (12) (10) Operating Expenses (236) (217) (232) Operating Prfit 8 4 (3) Nn-Operating Incme/(Expense) Prfit fr the Perid 11 6 (2) Bunker Sales Travel & Turism Equipment Trading Agencies Marine Sales & Service Revenue Waterfall 2017 vs 2018 Bunker Sales Marine Sales & Service Travel & Turism -57 Equipment Trading Agencies

11 Segment Perfrmance YTD Sep (All amunts in QR Millins) 29% Increase in Revenue and 126% Increase in Net Prfit Operating Revenue QR 98M increase in Revenue brken ut as fllws: QR (88)M decrease in sales frm Qatar Quarries assciate QR 135M increase in Held-fr-Trading investment incme QR 38M increase in Dividend Incme QR 17M increase in Real Estate incme Operating Expenses dwn QR 43M Lwer Cst-f-Gds-Sld assciated with Qatar Quarries ffsetting higher depreciatin n new Lgistics warehuses Nn-Operating Incme up QR 14M, mainly attributable t QR (21)M impairment n Available-fr-Sale Investments bked in 2017 Qatar Quarries Revenue Waterfall 2017 vs 2018 Salaries, Wages and Other Benefits (6) (6) (6) Operating Supplies and Expenses (79) (145) (85) Rent Expenses (3) (3) (3) Depreciatin and Amrtisatin (27) (27) (43) Other Operating Expenses (8) (8) (8) Expense Allcatin frm Milaha Crprate (12) (11) (12) Operating Expenses (135) (200) (157) Operating Prfit Nn-Operating Incme/(Expense) Prfit fr the Perid Nn-cntrlling interest (3) (11) 1 Net Prfit Attributable T Equity Hlders Of The Parent Real Estate Investments Investments Real Estate Qatar Quarries

12 Outlk Macr: Expect the year t clse ut strng at Hamad prt with increased vlumes Expect cntainer feedering margins t be under pressure due t increases in the cst f bunker and cmpetitive rate pressure Ramp-up f utilizatin at Al Thumama warehuses will cntribute psitively t the lgistics segment 12

13 Outlk Macr: Expect the fundamentals in the ffshre market t gradually imprve n the back f higher il prices, declining OSV fleet supply and rising il prductin. Operatinally, we expect t cntinue seeing year-ver-year revenue increase as a result f: Liftbat cmmencing wrk in Nigeria (began end f June) Cmmencement f new prjects late in the year 13

14 Outlk VLGCs: have started witnessing an uptick in charter rates; remain cautiusly ptimistic Jintly & Fully wned LNG carriers: limited fluctuatin versus 2017 due t lng term fixed nature f cntracts Fully-wned prduct tankers + 1 crude carrier: all trading in spt market and expsed t multi-year lw rates. Fully-wned gas / ammnia carriers: ne vessel renewed (albeit at lwer rate) and will be n time charter rest f year; ther is n spt. Harbr marine vessels: expect stable revenue rest f year 14

15 Outlk Expect a challenging year fr this segment rest f year

16 Outlk Listed prtfli perfrmance strngly crrelated t Qatar Exchange perfrmance and vlatility 16