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2014 Earnings Call – Royal Vopak

Royal Vopak · Feb 27, 2015 · 55 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. 2014 Earnings Call – Royal Vopak – slide 1
    FY 2014 27 FEBRUARY 2015 ANALYST PRESENTATION 2014 Results
  2. 2014 Earnings Call – Royal Vopak – slide 2
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Connecting flows Analyst presentation FY 2014 27 February 2015
  3. 2014 Earnings Call – Royal Vopak – slide 3
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Vopaks ambition Presence Safety and Strong link Value Our at prime service supply creation values locations…
  4. 2014 Earnings Call – Royal Vopak – slide 4
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Our strategic framework Growth Operational Customer leadership leadership leadership Our Sustainability…
  5. 2014 Earnings Call – Royal Vopak – slide 5
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Strategy execution Strategic Divestment Reduce * Reduce * Growth Program Capex Cost base 4 15 100 30 categories…
  6. 2014 Earnings Call – Royal Vopak – slide 6
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Product developments 2014 Oil production exceeds Chemicals: North Biofuels demand is LNG trade grew with demand…
  7. 2014 Earnings Call – Royal Vopak – slide 7
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Topics influencing 2014 results Capacity Geopolitics Oil price Currency expansions and regulation volatility…
  8. 2014 Earnings Call – Royal Vopak – slide 8
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Results 2014 Terminal EBITDA Network * Excl. ex items *** 33.8 763 In million cbm In EUR million Occupancy Cash…
  9. 2014 Earnings Call – Royal Vopak – slide 9
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Strategy in execution 10 Analyst presentation FY 2014 27 February 2015
  10. 2014 Earnings Call – Royal Vopak – slide 10
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Investments and divestments Oil Haiteng Chemicals (Industrial terminal) Industrial 890,000 cbm Gasses Banyan…
  11. 2014 Earnings Call – Royal Vopak – slide 11
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Storage capacity developments Storage capacity developments In million cbm; commissioned and under…
  12. 2014 Earnings Call – Royal Vopak – slide 12
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Safety performance Total injury rate (TIR) Lost time injury rate (LTIR) Total injuries per 200,000 hours worked by…
  13. 2014 Earnings Call – Royal Vopak – slide 13
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Service improvements Jetty upgrades New rail loading spots Sebarok, Singapore Savannah, US Manifold Port…
  14. 2014 Earnings Call – Royal Vopak – slide 14
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Efficiency enhancements Sustaining & Organizational Leverage on improvement productivity standards and capex…
  15. 2014 Earnings Call – Royal Vopak – slide 15
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Key topics We are grateful towards our employees, customers and all stakeholders for their continued trust in our…
  16. 2014 Earnings Call – Royal Vopak – slide 16
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Business performance 17 Analyst presentation FY 2014 27 February 2015
  17. 2014 Earnings Call – Royal Vopak – slide 17
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Key topics 2014 EBITDA ended at high-end of expectations Strategic focus and actions on track Encouraging…
  18. 2014 Earnings Call – Royal Vopak – slide 18
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Outlook development 2014 763 753 -5% 740 700 -10% 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 19 Analyst…
  19. 2014 Earnings Call – Royal Vopak – slide 19
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers EBITDA development Alignment network and competitive position Comprehensive scenario planning Full potential…
  20. 2014 Earnings Call – Royal Vopak – slide 20
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers EBITDA development EBITDA development In EUR million 202 196 196 194 193 192 187 189 187 185 183 180 Q1…
  21. 2014 Earnings Call – Royal Vopak – slide 21
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Q4 2014 summary EBITDA* EBIT* In EUR million In EUR million -5% +6% -10% +5% 192.0 183.0 194.4 138.2 124.2…
  22. 2014 Earnings Call – Royal Vopak – slide 22
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 summary Revenues EBITDA* EBIT* In EUR million In EUR million In EUR million -1% +2% -2% +1% 1,314 1,295…
  23. 2014 Earnings Call – Royal Vopak – slide 23
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 EBITDA analysis 17.2 10.9 18.8 762.8 2.4 12.3 1.3 753.1 746.2 6.9 1.3 Americas…
  24. 2014 Earnings Call – Royal Vopak – slide 24
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 EBIT 2013 2014 In EUR million In EUR million Group operating profit 411.1 394.0 Net result joint ventures…
  25. 2014 Earnings Call – Royal Vopak – slide 25
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Occupancy rate developments Occupancy rate In percent Full potential playing field 90-95% Current playing field…
  26. 2014 Earnings Call – Royal Vopak – slide 26
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Occupancy rate per division Netherlands EMEA -6pp +4pp 0pp -4pp 89% 83% 87% 88% 88% 84% Occupancy rate -3pp 0pp…
  27. 2014 Earnings Call – Royal Vopak – slide 27
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Original contract duration Contract position 2012 Contract position 2013 Contract position 2014 In percent of revenues…
  28. 2014 Earnings Call – Royal Vopak – slide 28
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers EBIT(DA) margin development EBIT(DA) margin In percent 55 50 45 EBITDA margin 40 35 30 EBIT margin 25…
  29. 2014 Earnings Call – Royal Vopak – slide 29
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Cash flow developments Cash flow from operating activities (net) In EUR million 703 660 619 449 475 416 358…
  30. 2014 Earnings Call – Royal Vopak – slide 30
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Non-IFRS proportional information Proportionate EBITDA* In EUR million 836 817 824 617 660 537 2009 2010 2011…
  31. 2014 Earnings Call – Royal Vopak – slide 31
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Financial ratios 2014 Non-IFRS ROCE* ROE** Proportional information In % In % CFROGA*** 21.9% In % 18.8%…
  32. 2014 Earnings Call – Royal Vopak – slide 32
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Selective growth 33 Analyst presentation FY 2014 27 February 2015
  33. 2014 Earnings Call – Royal Vopak – slide 33
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Solvency ratio Total equity and liabilities In EUR million 5,226 4,644 4,386 4,152 3,649 Net 64% liabilities*…
  34. 2014 Earnings Call – Royal Vopak – slide 34
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Selective growth opportunities Storage capacity In million cbm +5.9 +13.9 39.7 36.6 37.6 37.6 36.7 33.8 29.9…
  35. 2014 Earnings Call – Royal Vopak – slide 35
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Selective capital disciplined growth Total investments 2005-2019 Expansion capex** In EUR million In EUR million;…
  36. 2014 Earnings Call – Royal Vopak – slide 36
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Selective capital disciplined growth Senior net debt : EBITDA ratio Maximum ratio under other PP programs and…
  37. 2014 Earnings Call – Royal Vopak – slide 37
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Proposed 2014 dividend Dividend and EPS 2006-2014** In EUR 2.73 2.45 2.31 Dividend policy: 2.08 2.16 1.92 1.62…
  38. 2014 Earnings Call – Royal Vopak – slide 38
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Vopaks capital structure Syndicated Ordinary shares Private placement Equity(-like)* revolving program* credit…
  39. 2014 Earnings Call – Royal Vopak – slide 39
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Looking ahead 40 Analyst presentation FY 2014 27 February 2015
  40. 2014 Earnings Call – Royal Vopak – slide 40
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Results FY 2014 Terminal EBITDA Network * Excl. ex items *** 33.8 763 In million cbm In EUR million Occupancy Cash…
  41. 2014 Earnings Call – Royal Vopak – slide 41
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Outlook assumptions x% Share of EBITDA* Industrial terminals Biofuels & LNG Oil products Chemicals & other…
  42. 2014 Earnings Call – Royal Vopak – slide 42
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Outlook elements 2014 Expansions Divestments Productivity and Fx and Uncertainties incl. 2015 and organisations…
  43. 2014 Earnings Call – Royal Vopak – slide 43
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Questions answers Analyst presentation FY 2014 27 February 2015 44
  44. 2014 Earnings Call – Royal Vopak – slide 44
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead We have built answers our company over 400 years on trust and reliability Analyst presentation FY2014…
  45. 2014 Earnings Call – Royal Vopak – slide 45
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Appendix 46 Analyst presentation FY 2014 27 February 2015
  46. 2014 Earnings Call – Royal Vopak – slide 46
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 Revenues per division Netherlands EMEA -3% 0% Revenues 457.6 +5% +4% 442.5 442.1 235.9 248.2 257.6 -1%…
  47. 2014 Earnings Call – Royal Vopak – slide 47
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 EBITDA per division Netherlands EMEA -9% +4% EBITDA* 267.3 +2% -13% 242.6 252.7 132.3 135.6 118.3 -2%…
  48. 2014 Earnings Call – Royal Vopak – slide 48
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 net result of joint ventures Netherlands EMEA -23% -50% 46.6 Net result of +26% +4% 35.9 joint ventures 2.4…
  49. 2014 Earnings Call – Royal Vopak – slide 49
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Netherlands EBITDA* In EUR million 59.8 59.5 61.3 62.0 60.9 62.8 68.0 61.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013…
  50. 2014 Earnings Call – Royal Vopak – slide 50
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers EMEA EBITDA* In EUR million 34.7 33.6 33.1 34.2 28.9 30.4 30.9 28.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2013…
  51. 2014 Earnings Call – Royal Vopak – slide 51
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Asia EBITDA* In EUR million 70.7 73.2 70.6 68.0 66.4 70.0 76.9 77.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2013 2013…
  52. 2014 Earnings Call – Royal Vopak – slide 52
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Americas EBITDA* In EUR million 28.0 25.9 26.3 29.5 24.0 22.1 21.2 23.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2013…
  53. 2014 Earnings Call – Royal Vopak – slide 53
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers FX translation effects 2014 EBITDA transactional currencies FX translation-effect on 2013 EBITDA In percent In EUR…
  54. 2014 Earnings Call – Royal Vopak – slide 54
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Debt repayment schedule Debt repayment schedule In EUR million RCF flexibility US PP Other Subordinated US PP…
  55. 2014 Earnings Call – Royal Vopak – slide 55
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Net finance costs Net finance costs 2013 Net finance costs 2014 In EUR million In EUR million Interest and…

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