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Q2 2015 Results – Vtti Energy Partners Lp

Vtti Energy Partners Lp · Aug 11, 2015 · 13 slides

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Slides

  1. Q2 2015 Results – Vtti Energy Partners Lp – slide 1
    11 AUGUST 2015 9:00 AM EDT 2:00 PM UK VTTI ENERGY PARTNERS LP Q2 2015 RESULTS 1
  2. Q2 2015 Results – Vtti Energy Partners Lp – slide 2
    VTTI MARKET POSITIONING VTTI is a unique global terminal MLP, well differentiated from its peers Cash ow Long-term, take or pay contracts stability No direct commodity price exposure Arac&ve growth Dropdown inventory…
  3. Q2 2015 Results – Vtti Energy Partners Lp – slide 3
    VTTI B.V. DEVELOPMENT UPDATE 1.6 MMbls ATB expansion Project is well within budget and on schedule (Malaysia) Operational in Q3 2015 Commercial contracts agreed 2.7 MMbls FTL expansion Project is within budget and on…
  4. Q2 2015 Results – Vtti Energy Partners Lp – slide 4
    VTTI GROUP TERMINAL CAPACITY (MMBbls) 60 54.0 50 18.5 40 30 20.4 20 15.1 12.8 2.3 10 0 Q2 2015 Dropdown Q3 2015 VTTI Opera9ng VTTI BV Total 1. Numbers shown are on gross ownership basis 2.…
  5. Q2 2015 Results – Vtti Energy Partners Lp – slide 5
    Q2 2015 CORPORATE AND OPERATING REVIEW First dropdown completed and effective from 1 July 2015 - 6.6% of VTTI Operating, 75m equity value, 110m enterprise value Corporate Update Raised dividend by 3.5% in line with mid-teen…
  6. Q2 2015 Results – Vtti Energy Partners Lp – slide 6
    Q2 2015 FINANCIAL AND DEVELOPMENT REVIEW Initiating a number of small scale organic growth projects, particularly in ARA Expansion projects at Fujairah and Malaysia on track and within budget Growth Projects Cape Town now ready…
  7. Q2 2015 Results – Vtti Energy Partners Lp – slide 7
    SUMMARY FINANCIALS Q2 2015 Adjusted EBITDA and Distributable Cash Flow Actual F-1 Forecast MM Q2 2015 Q2 2015 Adjusted EBITDA 53.1 56.1 Cash interest expense (3.7) (6.4) Cash income tax expense - - Maintenance capital…
  8. Q2 2015 Results – Vtti Energy Partners Lp – slide 8
    BALANCE SHEET UPDATE VTTI Energy Partners LP Actual (USD mm) June 30 2015 Cash Cash and cash equivalents(1) 37.2 RCF FACILITY Debt 270mm CAPACITY 200m UNDRAWN VTTI B.V. VTTI Operating Revolving Credit Facility(2) 549.6…
  9. Q2 2015 Results – Vtti Energy Partners Lp – slide 9
    OUTLOOK Regional product imbalances and product demand growth continue to drive fundamental requirement for storage Market VTTI Operating performance resilient to commodity price fluctuations and largely hedged against FX movements…
  10. Q2 2015 Results – Vtti Energy Partners Lp – slide 10
    VTTI ENERGY PARTNERS LP THANK YOU 10
  11. Q2 2015 Results – Vtti Energy Partners Lp – slide 11
    CORPORATE OVERVIEW Listed by global independent VTTI B.V. IPO August 2014 (NYSE: VTTI) 50% interest 50% interest 49% of Partnership is publicly owned 8 Terminals* ROFO assets VTTI B.V. (Sponsor) Investors receive 1099 tax…
  12. Q2 2015 Results – Vtti Energy Partners Lp – slide 12
    FINANCIAL DETAIL Q2 2015 Income Statement (unaudited) Actual MM Q2 2015 Revenues 70.9 Operating expenses (incl. D&A) (42.4) Total operating income 28.5 Total other expense, net (5.6) Income before income tax expense 22.9…
  13. Q2 2015 Results – Vtti Energy Partners Lp – slide 13
    FINANCIAL DETAIL Q2 2015 Balance Sheet June 30, 2015 (unaudited) MM June 30, 2015 Cash and cash equivalents(1) 37.2 Property, plant & equipment 1,239.6 Other assets 281.7 Total assets 1,558.5 Debt(2) 549.6 Other…

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