Vopaks Network growth on track: 25.3 mln cbm storage capacity to grow to 29.8 mln cbm by 2012 Q1 2011 Trading update 27/04/2011 2
Agenda Highlights Business performance Growth projects Financing Outlook Details and definitions used in this presentation are derived from the Q1 2011 press release, which is leading. Q1 2011 Trading update 27/04/2011…
Q1 2011 Summary Q1 2011 EBIT of EUR 110 mln, excl. exceptional gains of EUR 128 mln Q1 2011 EBIT excl. exceptional items EUR 109.5 mln (Q1 2010 EUR 109.7 mln) Q1 2011 EBITDA excl. exceptional items EUR 148.1 mln (Q1 2010 EUR 145.4…
Q1 2011 Summary Q1 2011 EBIT of EUR 110 mln, excluding exceptional gains of EUR 128 mln In EUR mln Q1 11 Q1 10 EBIT incl. exceptionals 237.3 109.6 +117% EBIT excl. exceptionals 109.5 109.7 0% EBITDA excl. exceptionals 148.1 145.4…
Exceptional items Q1 2011 Mainly related to divestment Vopak Terminal Bahamas Divestment Vopak Terminal Bahamas EUR 111.5 mln Total proceeds of USD 271.4 million: USD 164.6 million cash USD 106.8 million Buckeye units: - 620,861…
Divestment Vopak Terminal Bahamas Accounting principles I. II. III. Result Quarterly Book profit / loss at Fair Value at Divestment determination Sale of shares Proceeds of USD 271.4 mln: Fair value adjustment: Fair value…
Agenda Highlights Business performance Growth projects Financing Outlook Q1 2011 Trading update 27/04/2011 8
Healthy occupancy rates in the 90-95% bandwidth Average occupancy decreased to 92% from 93% Q1 2011 Business environment: Improved results generated by new storage capacity on stream last year in China and Singapore (Asia) Better…
EBIT of EUR 109.5 mln mainly driven by Asias increased contribution In EUR mln, - excl. exceptional items - North America OEMEA Asia - 26% - 5% 29% 47.4 37.6 35.8 36.7 13.3 9.8 Q1 10 Q1 11 Q1 10 Q1 11 Q1 10 Q1 11 Latin America…
Q1 2011 Q1 2010 Chemicals EMEA Capacity (in mln cbm) Occupancy rate 4.1 88% 4.3 90% FX Effect (in mln EUR) +0.3 Increased customer activity in chemicals Lower demand for storage and handling of biodiesel EBIT in EUR mln, -…
Q1 2011 Q1 2010 Oil EMEA Capacity (in mln cbm) Occupancy rate 11.0 93% 11.0 95% FX Effect (in mln EUR) +0.3 Intensified maintenance and inspection program Demolition of Waltershof terminal (Germany) Stronger results from joint…
Q1 2011 Q1 2010 Asia Capacity (in mln cbm) Occupancy rate 6.9 94% 6.5 92% FX Effect (in mln EUR) +4.0 New storage capacity on stream in 2010 (China & Singapore) Improved occupancy rates EBIT in EUR mln, - excl. exceptional…
Q1 2011 Q1 2010 North America Capacity (in mln cbm) Occupancy rate 2.3 91% 5.7 96% FX Effect (in mln EUR) +0.2 Uncertainties in biofuels Divestment Vopak Terminal Bahamas Rail car handling restrictions at Deer Park EBIT in EUR…
Q1 2011 Q1 2010 Latin America Capacity (in mln cbm) Occupancy rate 1.0 91% 0.9 91% FX Effect (in mln EUR) +0.5 Steady results EBIT in EUR mln, - excl. exceptional items - 7.3 7.3 7.1 6.6 4.7 Q1 Q2 Q3 Q4 Vopak…
Agenda Highlights Business performance Growth projects Financing Outlook Q1 2011 Trading update 27/04/2011 16
Company growth supported by healthy demand for storage capacity Storage Capacity In mln cbm 29.8 28.8 28.3 27.1 25.3 21.2 21.8 20.4 +0.8 +0.6 +5.3 +1.2 +0.5 -3.5 +4.5 2005 2006 2007 2008 2009 2010 Q1 2011 2012 Occupancy Rate…
Growth continues in 2011 and 2012 Divestments in Q1 2011 decrease total storage capacity with 3.5 mln cbm Vopak Terminal Bahamas Ipswich, UK Product: Oil products Product: Oil products Capacity addition: - 3,400,000 cbm Capacity…
Various projects under construction Total storage capacity under construction per Q1 2011: 4.5 mln cbm Algeciras (Spain) Dongguan (China) 403,000 cbm 153,000 cbm Gate terminal (Netherlands) 540,000 cbm Westpoort…
Agenda Highlights Business performance Growth projects Financing Outlook Q1 2011 Trading update 27/04/2011 20
Strategic finance Net Senior debt : EBITDA ratio Q1 2011 2.18 2010 2.63 2009 2.23 2008 2.54 2007 1.71 2006 1.61 2005 1.76 2004 2.20 2003* 2.42 0 0.5 1 1.5 2 2.5 3 3.5 4 Maximum Ratio under current US PP programs…
Agenda Highlights Business performance Growth projects Financing Outlook Q1 2011 Trading update 27/04/2011 22
Outlook Assumptions Oil Industrial Biofuels and Chemicals terminals vegoils 17.5 20.0% 60.0% of EBIT 7.5 10% 12.5% of EBIT of EBIT of EBIT ROBUST SOLID MIXED ENCOURAGING Healthy demand for storage capacity Contract…
EU Biofuels market continues to face uncertainties Current situation Clear 20/20/20 mandate 20% of the energy mix must come from renewable sources; with a 10% minimum target for the transport sector; by the year 2020. Sustainability…
Vopak Biofuels The 2011 playing field + Biofuels part of the long-term energy mix + Mandate is clear and has been introduced in many countries + Drive to decrease dependency on oil - New sustainability criteria remain unclear - No…
EBIT(DA) impacted by volatile FX developments Transactional currency exchange risks are limited. As a rule revenues, costs and financing are denominated in the same currency. 2.50 FX Translation-effect on EBIT: 2.25 EUR/SGD FY…
Outlook 2011 For 2011 Vopak expects Group operating profit before depreciation and amortization (EBITDA) between EUR 600 640 million, assuming no further appreciation of the Euro against applicable other currencies. 2013 Based on our…
EBITDA Outlook 2013: in the EUR 725-800 mln range Outlook Guidance In EUR mln 2005 2006 2007 2008 2009 2010 2011 2013 725-800 600-640 598.2 513.4 429.3 EBITDA* 369.5 314.1 262.5 Q1 148.1 445.3 385.3 320.4 272.9…
Confidence in the future Q1 2011 Trading update 27/04/2011 29
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