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Q2 2015 EARNINGS CALL – Havila Shipping

Havila Shipping · Jul 21, 2015 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2015 EARNINGS CALL – Havila Shipping – slide 1
    Havila Shipping ASA 2nd Quarter 2015 CEO Njl Svik CFO Arne Johan Dale 21.07.15
  2. Q2 2015 EARNINGS CALL – Havila Shipping – slide 2
    Highlights Havila Fortune extended for one year with Mrsk Olie og Gas New 2 years firm contract for Havila Crusader with Premier Oil UK Market has been challenging Spot Low utilization Low rates Agreements with charterers on…
  3. Q2 2015 EARNINGS CALL – Havila Shipping – slide 3
    Summary of facts and figures Q2 Q2 15 Mill NOK Q2 14 Mill NOK Freight income 396 Freight income 397 Total income 408 Total income 402 EBITDA (adjusted) 191 EBITDA (adjusted) 201 EBITDA margin 47 % EBITDA margin 50 % Utilization…
  4. Q2 2015 EARNINGS CALL – Havila Shipping – slide 4
    Summary of facts and figures YTD YTD 15 Mill NOK YTD 14 Mill NOK Freight income 796 Freight income 768 Total income 827 Total income 781 EBITDA (adjusted) 379 EBITDA (adjusted) 379 EBITDA margin 46 % EBITDA margin 48 % Utilization…
  5. Q2 2015 EARNINGS CALL – Havila Shipping – slide 5
    Figures
  6. Q2 2015 EARNINGS CALL – Havila Shipping – slide 6
    Main figures NOK mill Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 Q1 2014 Income and gains 408,2 418,6 390.4 519.6 402.3 378.5 EBITDA (Adjusted) 191,2 46,8% 187,8 44,9% 217.9 55.8% 273.2 52.6% 200,6 49.9% 177.9 47.0% Pre tax - - - result…
  7. Q2 2015 EARNINGS CALL – Havila Shipping – slide 7
    FX exchange rates 13,0000 12,5000 12,0000 11,5000 11,0000 10,5000 10,0000 9,5000 9,0000 8,5000 8,0000 7,5000 7,0000 6,5000 6,0000 5,5000 5,0000 F13 M13 M13 F14 M14 M14 F15 M15 M15 J13 J13 J13 S13…
  8. Q2 2015 EARNINGS CALL – Havila Shipping – slide 8
    Interest bearing debt NOK millions Q2 15 Q1 15 Q4 14 Q3 14 Q2 14 Q1 14 Q4 13 Q3 13 Q2 13 Q1 13 Long term debt 4 880 4 944 5 012 4 836 4 890 5 416 4 827 5 341 5 184 5 371 Next year's instalments 876 991 899 1 106 1 104 652 1 106 698…
  9. Q2 2015 EARNINGS CALL – Havila Shipping – slide 9
    Modern fleet Value adjusted fleet age: 6 years, 10 month Market value Fleet value: BNOK 8.0 5% 7% Not including Havila Troll Booked value Fleet value: BNOK 7.4 Excess value: BNOK 0.6 Long term financing 88 % Secured : BNOK 4.8…
  10. Q2 2015 EARNINGS CALL – Havila Shipping – slide 10
    Quarterly income 600 500 400 300 520 419 408 402 401 390 379 367 200 361 360 357 354 341 330 Foreign 100 WHT of MNOK 18 included - Q3 12 Q2 15 Q1 12 Q2 12 Q4 12 Q1…
  11. Q2 2015 EARNINGS CALL – Havila Shipping – slide 11
    Quarterly vessel expenses 250,0 225,0 18,9 36,9 36,8 21,3 24,8 200,0 37,5 9,2 19,5 21,6 9,6 10,0 10,3 13,3 32,8 26,1 25,6 175,0 17,9 9,6 18,9 25,9 18,9 22,5 20,5 25,5 18,1 24,7 20,4 150,0 26,5 47,4 42,2 41,1 41,2 45,4 45,0 37,3…
  12. Q2 2015 EARNINGS CALL – Havila Shipping – slide 12
    Operating profit from segments 150 140 143 130 120 110 100 90 88 80 86 85 85 81 79 70 76 75 70 60 65 62 60 60 50 57 56 55 55 54 53 51 51 50 50 49 40 46 40 30…
  13. Q2 2015 EARNINGS CALL – Havila Shipping – slide 13
    Contractual coverage Fleet utilization Contract coverage 2015-2019 (time charter fleet) Q4 11: 92% 100% Q1 12: 94% 90% 1% Q2 12: 93% 2% 80% 12% Q3 12: 93% 70% Q4 12: 90% 31% 60% Q1 13: 88% 50% Q2 13: 94%…
  14. Q2 2015 EARNINGS CALL – Havila Shipping – slide 14
    Contract backlog 1 800 1 600 7 1 400 183 736 1 200 539 1 000 800 535 712 1 144 600 251 827 400 704 371 419 365 408 403 200 272 270 - Q1 15 Q2 15 Q3 15 Q4 15…
  15. Q2 2015 EARNINGS CALL – Havila Shipping – slide 15
    Key figures EBITDA % VALUE PER SHARE EARNINGS PER SHARE 60% 100 4,00 98 98 97 97 95 95 95 95 3,00 55% 92 2,22 2,40 53% 90 89 1,78 53% 87 2,00 50% 50% 50% 85 1,23 0,87 1,00 48% 47% 47% 47% 80 0,56 45% 45% 75 - Q113…
  16. Q2 2015 EARNINGS CALL – Havila Shipping – slide 16
    Assets 9 000 100 % 831 8 000 814 841 742 967 831 869 821 842 792 90 % 7 000 80 % 70 % 6 000 60 % 5 000 50 % 7 555 7 552 7 539 7 525 7 507 7 504 7 489 7 472 4 000 7 431 7 367 40 % 3 000 30 % 2 000 20…
  17. Q2 2015 EARNINGS CALL – Havila Shipping – slide 17
    - 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 Q1 13 1 989 5 557 984 Equity Q2 13 2 008 5 286 1 151 Q3 13 2 075 5 443 940 Q4 13 2 022 4 958 1 364 Q1 14 2 058 5 545 937 Long term debt Q2 14 2 075 5…
  18. Q2 2015 EARNINGS CALL – Havila Shipping – slide 18
    Summing up
  19. Q2 2015 EARNINGS CALL – Havila Shipping – slide 19
    Spot market Q3 15 Vessels AHTS Havila Venus Havila Jupiter Havila Neptune Havila Mars PSV Havila Crusader (out of spot) Market Challenging market 19
  20. Q2 2015 EARNINGS CALL – Havila Shipping – slide 20
    This is Havila Shipping ASA Head-office in Fosnavg, Norway Offices in Rio Labuan Aberdeen Partnership with POSH in Singapore A fleet of 27 vessels (+ one under management)) 800 offshore staff 46 onshore Strong operating track…
  21. Q2 2015 EARNINGS CALL – Havila Shipping – slide 21
    Largest shareholders Shareholder Address Shares Interest Havila Holding AS FOSNAVG 15 379 717 51,0 % Odin Offshore OSLO 2 551 378 8,5 % Torghatten ASA BRNNYSUND 1 223 100 4,1 % Pareto Aksje Norge OSLO 993 466 3,3 % The Northern Trust Co.…
  22. Q2 2015 EARNINGS CALL – Havila Shipping – slide 22
    Summary Second quarter acceptable challenging market Focusing on keeping vessels working Firm contracts signed 2016 maturities Focus on balloons High contract coverage for 2015 and 2016 Continuing low interest rate No capex / No…

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