Qatar Electricity & Water Company Q.S.C.: Company Profile and SWOT Analysis by ICDResearch

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									Qatar Electricity & Water Company Q.S.C.

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Qatar Electricity & Water Company                                         Financial Snapshot

Q.S.C.                                                                    Operating Performance

Fast Facts                                                                The company reported revenue of US$939.79 million
                                                                          during the fiscal year 2010 (2010). The company's
                                                                          revenue grew at a CAGR of 18.86% during 2006–
Headquarters Address                 Al Ahad Street, Doha, ,Qatar
                                                                          2010, with an annual growth of 29.40% over 2009. In
                                                                          2010, the company recorded an operating margin of
Telephone                            + 974 4 858585
                                                                          40.00%, as against 35.95% in 2009.
Fax                                  + 974 4 831116
                                                                          Revenue and Margins
Website                              www.qewc.com

Ticker Symbol, Stock Exchange        QEWS, Doha Securities Market

Number of Employees                  N/A

Fiscal Year End                      December

Revenue (in US$ million)             939.79

Revenue (in QAR million)             3,430.23




                                                                          Return on Equity
SWOT Analysis                                                             The company recorded a return on equity (ROE) of
                                                                          30.90% for 2010, as compared to its peers, Hera
Strengths                            Weaknesses                           S.p.A. (Ticker: HER), Ameren Corporation (Ticker:
                                                                          AEE) and Dynegy Inc. (Ticker: DYN), which recorded
Leading position                     Dependency on thermal fuel sources   ROEs of 6.79%, 1.80% and -8.52% respectively. The
                                                                          company reported a net profit margin of 40.00% in
                                                                          2010.
Strong operational performance

                                                                          Return on Equity
Strong portfolio of power projects

Opportunities                        Threats

Investment plans                     Alternate energy sources

Launching new power plants           Environmental laws and regulations

Strong forecast growth in energy
                                     Volatility in price level
demand




                                                                          Liquidity Position

                                                                          The company reported a current ratio of 0.75 in 2010,
                                                                          as compared to its peers, Hera S.p.A., Ameren
                                                                          Corporation and Dynegy Inc., which recorded current
                                                                          ratios of 1.25, 1.53 and 1.43 respectively. As of
                                                                          December 2010, the company recorded cash and
                                                                          short-term investments of worth US$568.27 million,
                                                                          against US$443.57 million current debt. The company
                                                                          reported a debt to equity ratio of 3.83 in 2010 as
                                                                          compared to its peers, Hera S.p.A., Ameren
                                                                          Corporation and Dynegy Inc., which recorded debt to
                                                                          equity ratios of 1.57, 1.00 and 1.74 respectively.




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Qatar Electricity & Water Company Q.S.C. - SWOT                                                                  Page 1
Profile
Qatar Electricity & Water Company Q.S.C.

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................6
2     Analysis of Key Performance Indicators ............................................................................................... 7
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
    2.2       Key Financial Performance Indicators .................................................................................................................10
      2.2.1       Revenue and Operating Profit .........................................................................................................................10
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................11
      2.2.3       Net Debt vs. Gearing Ratio ..............................................................................................................................12
      2.2.4       Operational Efficiency ......................................................................................................................................13
      2.2.5       Solvency ..........................................................................................................................................................14
      2.2.6       Valuation ..........................................................................................................................................................15
    2.3       Competitive Benchmarking ..................................................................................................................................16
      2.3.1       Efficiency ..........................................................................................................................................................16
      2.3.2       Turnover – Inventory and Asset .......................................................................................................................17
      2.3.3       Liquidity ............................................................................................................................................................18
3     Mergers & Acquisitions and Partnerships ........................................................................................... 19
    3.1       M&A and Partnerships Strategy ...........................................................................................................................19
4     SWOT Analysis ...................................................................................................................................... 21
    4.1       SWOT Analysis - Overview ..................................................................................................................................21
    4.2       Strengths 
								
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