Investor Presentaiton
Key Highlights
Production (MT’000)
-8%
+3%
17,153
15,787
3,672
3,795
YE 2019 YE 2020
Q3-20
Q4-20
Sales Volumes (MT'000)
-17%
9,534
7,943
1,894
+30%
2,460
YE 2019 YE 2020
Q3-20
Q4-20
Selling Prices ($ / MT)
-7%
+2%
405
379
374
380
YE 2019
YE 2020
12
Q3-20
Q4-20
•
•
•
2020 production volumes declined as compared to last year, mainly due to periodic
planned maintenance, unplanned shutdowns and moth-balling of certain steel
facilities. This was partially offset by increase in volumes related to Qafco's 25%
acquisition, effective 01 Jan 2020.
Q4-20 production levels were marginally up by 3% as compared to Q3-20, mainly
due to higher production volumes from polyethylene and fertilizers facilities partially
offset by lower volumes from steel and fuel additives facilities.
Production not affected by COVID-19, except for MTBE facilities which was on
planned shutdowns for certain periods in Q2-20 (57 days) and Q4-20 (32 days), due
to commercial reasons, but the impact to the Group was insignificant considering a
very limited contribution to the Group.
2020 sales volumes down on last year, mainly due to temporary gas processing
arrangement in relation to Qafco trains 1-4 for the first seven months ended 31 July
2020, wherein, sales volumes relating to Qafco trains 1-4 were not recognized in
IQ's books. Also, the decline was attributed to the lower production levels in PE and
MTBE facilities due to shutdowns and mothballing of certain steel facilities. This was
partially offset by increase in volumes related to Qafco's 25% acquisition, effective
01 Jan 2020.
Impact of COVID-19 and the oil price crisis did not materially affect the sales
volumes.
Q4-20 sales volumes significantly up as compared to Q3-20, due to notable volume
uplift across all segments except for fuel additives due to commercial shutdowns.
.
•
2020 vs 2019: Reduction in prices was noted in petrochemicals and fertilizer
segments, driven by external factors including lower crude and weaker demand on
account of COVID-19 pandemic.
Q4-20 vs Q3-20: Prices improved in Q4-20 on account of continued positive crude
price trajectory, supply shortages and demand recoveries to an extent on the back of
government stimulus announcements and further easing of lockdowns, along with
vaccine optimism.
Note: Quarterly figures for the year 2020 have been restated to show the effects of acquisition of Qafco's 25% stake retrospectively, with
effect from 01 January 2020.
Industries Qatar, IR Presentation, YE 2020View entire presentation