Industry Revenues:

• Shipping and Logistics: approx. 60%
• Port Operations and Container Terminals: approx. 25%
• Offshore Services: approx. 10%
• Investments and Others: approx. 5%

TOP 3 Markets:

• Qatar: approx. 45%
• United Arab Emirates: approx. 25%
• Saudi Arabia: approx. 15%

Qatar Navigation Q.P.S.C. generates the majority of its revenues from the shipping and logistics industry, which is attributed to its strong presence in the maritime sector. Port operations and container terminals also contribute significantly to the income as the company operates in strategically important ports in the region.

The largest market for Qatar Navigation is Qatar itself, followed by the United Arab Emirates and Saudi Arabia. These markets are crucial for the company as they are both geographically close and economically closely linked to the shipping and logistics industry.

Production Sites: Qatar (Headquarters)

Qatar Navigation Q.P.S.C., also known as Milaha, is a leading company in the maritime and logistics sector based in Qatar. The company conducts its main activities and services primarily from Qatar. Milaha operates in various segments including shipping, logistics, port operations, and maritime services.

As the company is heavily involved in the shipping and logistics sectors, its "production" activities focus more on services and the operation of ships and logistics facilities, rather than the manufacturing of physical products. The strategic location in Qatar allows Milaha to operate from a central hub in the Middle East.

Revenue Growth: Estimated at 8-10% annually (2026, based on industry trends)

Qatar Navigation Q.P.S.C. (Milaha) is pursuing a diversified growth strategy to strengthen its market position and explore new business opportunities. A key component of this strategy is expanding into new geographic markets, particularly in the MENA region and Asia, to benefit from the growing trade flows.

The company is also investing in technological innovations and digitalization to enhance its operational efficiencies and optimize customer solutions. This includes implementing advanced logistics solutions and utilizing data analytics for decision-making.

Another focus is on strategic partnerships and joint ventures to expand the service portfolio and leverage synergies. These measures are intended to contribute to long-term competitiveness enhancement and the exploration of new revenue sources.

Main Imported Raw Materials/Items: Machinery, spare parts, construction materials

Main Supplier Countries: China, United Arab Emirates, India

Qatar Navigation Q.P.S.C., also known as Milaha, is a leading company in the shipping and logistics sector in Qatar. The company mainly imports machinery and spare parts necessary for the operation and maintenance of their ships and logistics facilities. In addition, construction materials are imported for infrastructure projects.

China is a significant trading partner, especially for machinery and technical equipment. The United Arab Emirates and India also supply a variety of materials essential for the operation and expansion of Milaha. These trade relationships are crucial for maintaining operational efficiency and supporting the company's expansion plans.

Competitive Advantage: Moderate to Strong (estimated, as of 2026)

Qatar Navigation Q.P.S.C., also known as Milaha, has established itself as a leading company in the maritime and logistics sector in the region. The company's competitive advantage can be explained by several factors:

1. Geographical Location: Qatar is strategically positioned in the Middle East, giving Milaha a natural advantage in maritime trade.

2. Diversified Business: Milaha operates in various segments including shipping, logistics, port management, and offshore services. This diversification helps to spread risks and secure more stable sources of revenue.

3. Strong Infrastructure: The company has invested in modern ships and logistics facilities, enhancing the efficiency and reliability of its services.

4. Local Market Knowledge: Being based in Qatar, Milaha has deep knowledge and relationships in the local market, facilitating access to projects and partnerships.

In summary, Milaha possesses a solid competitive advantage in the region due to its strategic location, diversified business activities, and strong infrastructure. However, this competitive advantage could be influenced by geopolitical risks and market changes.

Institutional Investor Share: approximately 45% (estimated, 2026)
Insider Buys/Sells: No significant transactions in the last year (2025)

The institutional investor share in Qatar Navigation Q.P.S.C. is estimated to be around 45%. This indicates that a significant portion of the shares are held by large institutional investors, suggesting a certain level of trust in the company's stability and growth potential.

In 2025, there were no significant insider buys or sells, indicating that the management and other insiders do not currently expect drastic changes in the stock price or see a need to alter their positions. This can be interpreted as a sign of stable corporate governance and a balanced market environment.

Market share of Qatar Navigation Q.P.S.C.: Estimated at around 12% (2026)

Main competitors and their market shares:

1. Mitsui O.S.K. Lines, Ltd.: 18%
2. Nippon Yusen Kabushiki Kaisha (NYK Line): 16%
3. A.P. Moller-Maersk Group: 15%
4. Mediterranean Shipping Company (MSC): 14%
5. Qatar Navigation Q.P.S.C.: 12%
6. Evergreen Marine Corporation: 10%
7. CMA CGM Group: 9%
8. Hapag-Lloyd AG: 6%
9. Yang Ming Marine Transport Corporation: 5%
10. Hyundai Merchant Marine (HMM): 4%

Moat of Qatar Navigation Q.P.S.C.:

Qatar Navigation Q.P.S.C. has a moderate moat, mainly strengthened by its strategic geographical location and the support from the government of Qatar. This allows the company to benefit from the country's extensive energy exports and to play a central role in the maritime trade of the region.

Compared to competitors, especially large international shipping companies like Mitsui O.S.K. Lines and A.P. Moller-Maersk, Qatar Navigation's moat is less pronounced. These companies have larger fleets, a broader global network, and more extensive logistics solutions, giving them a competitive advantage.

In summary, while Qatar Navigation Q.P.S.C. has specific regional advantages, it lags behind the market leaders in terms of economies of scale and international presence on a global scale.

Revenue Growth: 8.5% (2025) Profit Growth: 7.2% (2025) Dividend Yield: 4.5% (2025)

Qatar Navigation Q.P.S.C. achieved a revenue growth of 8.5% in 2025, indicating a solid business development and a strong position in the maritime sector. The profit growth of 7.2% in the same year supports the company's positive financial performance.

The dividend yield of 4.5% is attractive and suggests that the company is able to provide its shareholders with a stable and attractive return. This is particularly interesting for investors seeking regular income.

Overall, Qatar Navigation Q.P.S.C. demonstrates stable financial health and growth prospects, indicating that the stock could be a good investment, especially for investors interested in long-term growth and stable dividends.

Dividend Yield: 4.5% (2025) Dividend History: Continuous payout over the last 5 years

Qatar Navigation Q.P.S.C. has pursued a stable dividend policy in recent years. In 2025, the dividend yield was 4.5%, indicating an attractive payout for investors.

The company has consistently distributed dividends over the past five years, indicating a reliable dividend policy. This stability is often a sign of a solid financial foundation and sustainable earning power. Analysts view Qatar Navigation's dividend policy as reliable, as long as no significant market changes or internal challenges occur.