QATAR NAVIGATION Q.P.S.C. Q1 2023 Financial Summary Conference Call
Doha, Qatar
April 19, 2023
Consolidated Income Statement - Q1
(All amounts in QR Millions)
2021 | 2022 | 2023 | |
Operating Revenue | 675 | 913 | 766 |
Salaries, Wages and Other Benefits | (150) | (155) | (139) |
Operating Supplies and Expenses | (259) | (415) | (306) |
Rent Expenses | (1) | (2) | (3) |
Depreciation and Amortisation | (91) | (90) | (94) |
Provision of Impairment of Trade Receivables | (6) | (17) | 3 |
Other Operating Expenses | (37) | (40) | (16) |
Operating Expenses | (544) | (718) | (556) |
Operating Profit before Impairments | 131 | 194 | 210 |
Impairment of Property, Vessels and Equipment | - | - | - |
Finance Costs | (20) | (15) | (14) |
Finance Income | 8 | 4 | 8 |
Net Gain on Disposal of Property, Vessels & Equipmen | (0) | 0 | 1 |
Net Gain on Disposal of Investment Property | - | - | - |
Share of Results of Associates | 114 | 142 | 115 |
Share of Results of Joint Arrangements | 63 | 35 | 44 |
Net Gain on Foreign Exchange | 1 | 2 | 0 |
Tax for the Year | - | - | - |
Non-Operating Profit | 167 | 167 | 154 |
Profit for the Period | 298 | 361 | 364 |
Non-controlling interest | (1) | (1) | (1) |
Net Profit Attributable To Equity Holders Of The | |||
297 | 360 | 363 | |
Parent | |||
Revenue | -16% |
Operating Profit | 8% |
before Impairments | |
Net Profit | 1% |
%'s shown vs 2022
913
766
675
360 363
297
2021 | 2022 | 2023 | 2021 | 2015 | 2023 |
2022 | |||||
Revenue | Net Income |
2
Activities by Segment
- Port Services
- Container Shipping
- Warehousing & Logistics
- Shipyard
- Shipping Line Agencies
- Vessel Charter & Operations
- Diving & Subsea Services
- Construction and Maintenance Services
- Well Services
- Harbor Marine Operations
- LNG Transport
- LPG Transport
-
Floating Storage and
Offloading (FSO) Operations
- Heavy Equipment and Truck Agency
- Bunker Distribution
- Marine Engine and Lubricants Agency
- Ship Chandlery
- Real Estate Development and Management
- Strategic and Financial Investments
3
Net Profit, by Segment - Q1
(All amounts in QR Millions)
Unfavorable
Favorable
%'s shown vs 2022
88
42 -73%
-5% | |
164 | |
156 | |
143 | +17% |
119
110
102
+627%
61
24 | +232% | |||||
3 | ||||||
3 | 8 | (1) | (2) | |||
Maritime & | Offshore | Gas & Petrochem | Trading | Capital | ||
Logistics | ||||||
2021 | 2022 | 2023 |
4
Statement of Income, by Segment - Q1 2023
(All amounts in QR Millions)
Maritime & | Gas & | Eliminations/ | |||||||
Logistics | Offshore | Petrochem | Trading | Capital | Corporate | Adjustments | Consolidated | ||
Operating Revenue | 246 | 309 | 57 | 58 | 172 | 0 | (76) | 766 | |
Salaries, Wages and Other Benefits | (76) | (21) | (7) | (3) | (5) | (28) | - | (139) | |
Operating Supplies and Expenses | (190) | (99) | (5) | (47) | (28) | (3) | 66 | (306) | |
Rent Expenses | (9) | (0) | (0) | (1) | (1) | (2) | 10 | (3) | |
Depreciation and Amortisation | (8) | (56) | (12) | (0) | (17) | (1) | - | (94) | |
Provision of Impairment of Trade Receivables | 2 | (0) | 2 | (0) | (0) | - | - | 3 | |
Other Operating Expenses | (17) | 8 | (2) | (1) | 1 | (5) | 0 | (16) | |
Fleet & Technical Expense Allocation | 72 | (72) | (0) | - | - | - | - | 0 | |
Expense Allocation from Milaha Corporate | (26) | (5) | (2) | (3) | (4) | 39 | - | (0) | |
Operating Profit before Impairments | (6) | 63 | 32 | 3 | 118 | 0 | 0 | 210 | |
Impairment of Property, Vessels and Equipment | - | - | - | - | - | - | - | - | |
Finance Costs | (2) | (9) | (7) | - | (0) | - | 4 | (14) | |
Finance Income | - | 5 | 4 | 0 | 3 | - | (4) | 8 | |
Net Gain on Disposal of Property, Vessels & Equipment | - | 1 | - | - | - | - | - | 1 | |
Net Gain on Disposal of Investment Property | - | - | - | - | - | - | - | - | |
Share of Results of Associates | 0 | - | 115 | - | (0) | - | - | 115 | |
Share of Results of Joint Arrangements | 32 | - | 12 | - | - | - | - | 44 | |
Impairment of Available-for-Sale Investments | - | - | - | - | - | - | - | - | |
Net Gain on Foreign Exchange | 0 | 0 | (0) | (0) | 0 | (0) | - | 0 | |
Miscellaneous Income | - | - | - | - | - | - | - | - | |
Tax for the Year | - | - | - | - | - | - | - | - | |
Profit for the Period | 24 | 61 | 156 | 3 | 120 | (0) | 0 | 364 | |
Non-controlling interest | - | - | - | - | (1) | - | - | (1) | |
Net Profit Attributable To Equity Holders Of The Parent | 24 | 61 | 156 | 3 | 119 | (0) | 0 | 363 | |
5
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Disclaimer
Qatar Navigation QSC published this content on 19 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2023 06:29:06 UTC.
