Qatar Fuel Co. Q.P.S.C “WOQOD” Overview of Operation and 4Q and FY2019 Financial Results Investor Relations (IR), 30 th Jan 2020
Disclaimer This release/Announcement/Report contains forward-looking and future-based prospective statements and/or information concerning the financial condition, results of operations, activities and businesses of Qatar Fuel (WOQOD) Q.P.S.C. , hereinafter WOQOD. All statements/information other than statements/information of historical fact are deemed to be forward-looking statements/information, being statements of future expectations that are based on current expectations and assumptions and not guarantees of future performance. Such forward-looking statement/information, involve known and unknown risks and uncertainties that could cause actual results, operations and business performance or events impacting the Group to differ materially from those expressed or as may be inferred from these statements. These and all subsequent written and oral forward-looking information incorporated in this release/announcement/report are based on estimates and opinions on the dates they are made as shown in the cover page herein and are expressly qualified in their entirety by this notice. There are a number of factors that could affect the realisation of these forward-looking and/or future-based perspective statements such as, without limitation: (a) product margins fluctuations, (b) changes in demand or market conditions for the Group’s services, (c) loss of market share and industry competition in non-concession products and facilities, (d) environmental risks and natural disasters, (e) changes in legislative, fiscal and regulatory conditions, (f) changes in economic and financial market conditions and (g) political risks (H) Regional instability, war, blockade, sabotage, civil commotion or any other element or circumstances outside Group’s control. As such, results could differ substantially from those stated, or as may be inferred from the forward-looking statements contained herein. WOQOD, its affiliated and subsidiary companies, its Directors, officers, partners, employees, advisors, contractors and agents shall not be liable in any way for any costs, special, direct, indirect, consequential or incidental damage, losses or other detrimental effects whether in tort, contract or quasi contract etc., resulting or arising from the use of or reliance by any party on any forward-looking, and future-based perspective statement and / or other material contained herein. Further, WOQOD, its subsidiaries, joint ventures, affiliate and associated companies are in no way obliged to update or publish revisions to any forward-looking and/or future-based prospective statement/information or any other material contained herein should circumstances or managements opinions change or which may or may not be known to have changed or to be inaccurate as a result of new information, future events or any reason whatsoever. WOQOD does not guarantee the accuracy of the historical statements contained herein. The company cannot disclose any Commercially Sensitive Information due to the confidentially agreements signed with Suppliers. 2
Contents • Company Overview 1 • Operations Overview 2 • Financial Results Overview 3 • Q & A 4 Vision “To be the leading petroleum products and related services marketing company in the region” 3
Overview of WOQOD Group • WOQOD started operations in 2002 with exclusive rights for storage and distribution of petroleum products in State of Qatar • Operations started with 2 Petrol Stations in 2003 and grown to 96 stations as of end of 2019, and another 14 stations are completed and will be opened in early 2020 • Key Operations of WOQOD are: Diesel and Gasoline Fuel Distribution – Bulk and o Retail Jet Fuel Distribution o Shore to Ship and Ship to Ship Bunkering o Operations LPG Operations – Bulk and Shafaf o Natural Gas distribution o CNG Distribution o HFO Bunkering o Bitumen Operations o Marine Operations o Vehicle Inspections o Other Retail activities supporting Retail Fuel Ops o – C-Store, Auto care etc. 4
Contents • Company Overview 1 • Operations Overview 2 • Financial Results Overview 3 • Q & A 4 5
New Petrol Stations Growth Trend – YTD Dec 2019 • Total of 30 petrol stations completed in 2019 16 Petrol Stations opened o 14 Petrol Stations completed awaiting approvals to open o • Preparations for 33 additional stations are in various stages 6
Overall Fuel Volumes Trend Analysis Fuel Sales Volume Trend - Billion Liters 10.5 10.3 9.9 4.9 5.2 4.5 2.5 2.6 2.6 3.0 2.8 2.6 YTD Dec '17 YTD Dec '18 YTD Dec '19 Diesel Gasoline Jet A1 Fuel - QJet 2019 vs. 2018 • Fuel sales volume for 2019 is record high of 10.5 Billion Liters Overall growth in Fuel Sales is 1.4%, mainly driven by Jet Fuel sales growth of 6% o 7
Diesel & Gasoline Fuel Volumes & Price – YTD Dec 2019 YTD Dec YTD Dec Variance Variance Overall Fuel Sales Unit 2019 2018 F/(U) (%) Diesel MM Litres 2,588 2,822 (234) -8% Super Gasoline MM Litres 1,275 1,215 60 5% Premium Gasoline MM Litres 1,362 1,339 23 2% Total Fuel Sales MM Liters 5,225 5,376 (151) -3% 2019 vs. 2018 • Diesel sales lower by 8% in 2019 as compared to 2018 mainly due to lower demand from bulk customers • Gasoline sales higher by 3% in 2019 as compared to 2018 driven by market demand 8
Retail Fuel Sales Volume Comparison Variance Variance YTD Dec YTD Dec Retail - Fuel Sales Unit 2019 2018 (%) F/(U) Diesel MM Litres 791 704 87 12% Super Gasoline MM Litres 1,014 742 272 37% Premium Gasoline MM Litres 1,060 857 203 24% Total MM Liters 2,865 2,303 562 24% 2019 vs. 2018 • Retail Fuel sales increased by 24% during 2019 as compared to 2018 mainly driven by opening of new petrol stations Diesel Sales increased by 12% o Super Gasoline Sales increased by 37% and o Premium Gasoline sales increased by 24% o • Retail Fuel Market Share increased by 16% in 2019 (82% in 2019 vs 66% in 2018) 9
Contents • Company Overview 1 • Operations Overview 2 • Financial Results Overview 3 • Q & A 4 10
Revenue - Trend Analysis 2019 vs 2018 • Revenue for the year is QR 22.4 billion; as compared to 2018, the revenue is lower by 3.1% mainly driven by decrease in fuel prices mitigated by increase in fuel sales volume 11
Net Income - Trend Analysis 2019 vs 2018 • Net Income and EPS higher by 4.8% to QR 1,216 million and QR 1.22 respectively, compared to 2018 • The increase in net income driven by higher operating income, operational efficiencies, cost optimization and higher returns from better cash management • For the fourth quarter 2019, Net Profit grew by 3% to QR 345 million compared to 4Q2018 12
Key Variance Analysis of Net Income – 2019 vs 2018 Net Income Attributable to WOQOD Shareholders Net Income attributable to WOQOD Shareholders increased by QAR 56MM, 4.8% increase (QAR 1,216MM vs. QAR 1,160MM). Summary of variances are as follows: • Operating Income (net) driven by fuel sales growth • Interest and Dividends higher by QAR 25MM from better cash optimization and better performance on equity • Others comprises mainly of lower G&A expenses • Depreciation higher driven by growth in assets 13
2019 - Key Achievements Petrol Safety Lost Time Stations 110 Incident Improvement Completed of 72% Frequency as of 31 st Dec 2019 New Petrol Achieved 10.5 Bn 30 Stations record Liters completed Fuel sales in 2019 Retail Retail fuel 24% 82% Fuel Sales market Growth share Net 4.8% Income QAR 1,216 Growth MM 4.8% EPS QAR 1.22 Growth 14
Contents • Company Overview 1 • Operations Overview 2 • Financial Results Overview 3 • Q & A 4 15
Thank You ! 16
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