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Qatar Gas Transport Company (QGTS) investor relations material
Qatar Gas Transport Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Net profit for the nine months ended September 30, 2025, reached QAR 1.31 billion, up 3% year-over-year, driven by higher vessel utilization, reduced finance charges, and progress on long-term growth initiatives.
Revenue from operations increased to QAR 3.49 billion, supported by higher utilization of LNG vessels, improved LPG segment performance, and consolidation of Qatar Shipyard Technology Solutions.
EBITDA was QAR 2.75 billion, marginally lower year-over-year due to lower joint venture contributions and reduced interest income, offset by higher wholly owned vessel revenues and cost management.
The company fully consolidated Qatar Shipyard Technology Solutions after acquiring full ownership, impacting both revenue and expense lines.
Interim cash dividend of 7.2 Qatari Dirhams per share declared for 1H25.
Financial highlights
Net profit rose to QAR 1.31 billion (QAR 0.24/share) from QAR 1.28 billion (QAR 0.23/share) year-over-year.
Revenue increased to QAR 3.49 billion from QAR 3.44 billion in Q3 2024.
Operating expenses rose 9.1% to QAR 668 million, mainly due to consolidation effects and planned activities.
Finance costs decreased to QAR 758 million from QAR 865 million, reflecting lower debt and interest rates.
Cash and deposits increased to QAR 3.51 billion, supported by operational cash flow and financing for new builds.
Outlook and guidance
The 40-vessel new build program remains on track, with major milestones achieved and deliveries scheduled between 2026 and 2031.
Fleet expansion underway with 36 LNG and 4 LPG/ammonia carriers on order, targeting 112 vessels.
Long-term charter contracts provide stable cash flows, largely insulated from short-term market volatility.
LNG market fundamentals strong, with global liquefaction capacity projected to rise from 411 to 680 mmtpa by 2030.
Lower interest rates and compressed credit spreads are expected to improve returns on invested capital.
What caused the hedging reserve decline?
Analyze the decline in JV results.
Drivers of shipyard income growth?
Shipyard activity outlook post-consolidation?
Update on new build program's target IOR range?
Strategy for JV steam vessels amid market softness?
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Next Qatar Gas Transport Company earnings date
Q4 202527 Jan, 2026
Next Qatar Gas Transport Company earnings date
Q4 202527 Jan, 2026
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Frequently asked questions
Qatar Gas Transport Company Limited, known as Nakilat, is a shipping and maritime company that specializes in the transportation of liquefied natural gas (LNG). The company owns, operates, and manages a fleet of LNG vessels, making it a key player in the global LNG supply chain. In addition to LNG transportation, Nakilat provides comprehensive maritime services, including ship repair, shipbuilding, and marine support services, through its joint ventures and subsidiaries. The company serves the energy sector, primarily focusing on the export of Qatar's LNG to international markets. The company is headquartered in Doha, Qatar, and its shares are listed on the Qatar Stock Exchange.
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