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Q2 2015 Results Unaudited – Euronav

Euronav · Jul 30, 2015 · 18 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 Results Unaudited – Euronav – slide 1
    Euronav Q2 - 2015 Results (unaudited) 30th July 2015
  2. Q2 2015 Results Unaudited – Euronav – slide 2
    Agenda Q2 - 2015 Highlights Financial Review Market update Outlook Company Market Q&A 2 2
  3. Q2 2015 Results Unaudited – Euronav – slide 3
    Highlights
  4. Q2 2015 Results Unaudited – Euronav – slide 4
    Q2 - 2015 Highlights In USD per day Second Second First First quarter quarter Semester Semester 2015 2014 2015 2014 VLCC Average spot rate (in TI Pool) 55,570 20,326 53,370 26,117 Average time-charter rate* 38,148 27,655 41,705…
  5. Q2 2015 Results Unaudited – Euronav – slide 5
    Financial Overview
  6. Q2 2015 Results Unaudited – Euronav – slide 6
    Financial Highlights Income Statement Highlights EBITDA m reflects very steady and consistent rate environment during Q2 At least 80% of annual net income to be distributed as dividends All figures have been prepared under…
  7. Q2 2015 Results Unaudited – Euronav – slide 7
    Q2 2015 Highlights Corporate Delivery of Hakata to Euronav fleet April 2015 TC Contracts VLCC Flandre 36 months TC with Oil Major VLCC Sara 24 months extension in direct continuation starting in July VLCC Hakata 24 months TC from…
  8. Q2 2015 Results Unaudited – Euronav – slide 8
    Financial Highlights Balance Sheet Consolidated statement of financial position (in thousands of USD except per share amounts) June 30, 2015 December 31, 2014 ASSETS Current assets Trade and other receivables 225,424 194,733…
  9. Q2 2015 Results Unaudited – Euronav – slide 9
    Euronav Fleet Operating Days Semester 1 Full Year 2015 Suezmax Fixed, Suezmax Fixed, 15% 14% Suezmax Floating, VLCC Floating, Suezmax Floating, VLCC Floating, 28% 54% 28% 52% VLCC Fixed, 6% VLCC Fixed, 4% Dry Docks…
  10. Q2 2015 Results Unaudited – Euronav – slide 10
    Tanker Market Update
  11. Q2 2015 Results Unaudited – Euronav – slide 11
    Tanker Fleet Developments ADD COLOUR TO TABLES 2015 2016 2015 2016 VLCC end Q1 end Q2 end Q1 end Q2 Suezmax end Q1 end Q2 end Q1 end Q2 Forecast Additions 20 22 40 40 Forecast Additions 9 10 23 30 Removals -5 -5 -12 -12 Removals -7…
  12. Q2 2015 Results Unaudited – Euronav – slide 12
    Time charter rates 12 12
  13. Q2 2015 Results Unaudited – Euronav – slide 13
    Vessel Values 13 13
  14. Q2 2015 Results Unaudited – Euronav – slide 14
    4 VLCC Acquisition Accretive - Transaction to acquire four existing VLCCs under construction - Purchase price of 96m per unit - Rejuvenates Euronavs fleet age profile Option - Fee agreed with vendor to acquire four further sister…
  15. Q2 2015 Results Unaudited – Euronav – slide 15
    Current Themes Market Iran - impact from P5+1 Nuclear agreement Congestion Disconnect between earnings and asset prices Euronav Greece situation no impact on Euronav 15 15
  16. Q2 2015 Results Unaudited – Euronav – slide 16
    Outlook
  17. Q2 2015 Results Unaudited – Euronav – slide 17
    Euronav Outlook Share Fungibility & Liquidity - Shares been fungible between Euronext and NYSE markets since April 28th Q2 saw total daily volume of around 20m Acquisition enhances Dividend capability - Interim Dividend to be…
  18. Q2 2015 Results Unaudited – Euronav – slide 18
    Market outlook Tangible improvement in Oil Tanker Demand - All agencies increased demand forecasts during Q2 - Consensus is for 1.3m bpd growth in both 2015 & 2016 - No evidence of systematic speeding up Vessel Supply slowly…

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