Barclays Investment Grade Energy and Pipeline Conference March 3, 2016
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements that we believe to be reasonable as of the date of this presentation. These statements, which include any statement that does not relate strictly to…
ORGANIZATIONAL OVERVIEW Buckeye owns and operates a diversified network of integrated assets providing midstream logistic solutions generating stable and consistent cash flows THREE BUSINESS OPERATING UNITS 2015 Adjusted EBITDA -…
RECENT DEVELOPMENTS AND QUARTERLY HIGHLIGHTS Buckeyes diversified platform delivered Buckeye reported 2015 coverage of 1.02x stronger performance than our MLP peers Domestic Pipelines & Terminals BPL 2015 Unit Performance Relative…
LOOKING FORWARD Expect to maintain quarterly distribution Strong balance sheet with sufficient liquidity to fund growth of 0.0125 per quarter capital needs without accessing capital markets Buckeye has limited commodity exposure…
GEOGRAPHIC DIVERSIFICATION SYSTEM MAP Chicago Complex NY Harbor Caribbean Geographically Diversified Gulf Coast Four Buckeye Hubs 6
TRANSFORMATION SINCE 2010 Acquisitions Drove Significant Geographic Global Marine Terminals Segment Provides Diversification Significant Diversification in Adjusted EBITDA(1) Invested 7 Billion in Acquisitions and Internal…
BUCKEYE TEXAS PARTNERS Estimated growth capital investment of 1.2 billion(1) for South Texas assets Provides substantial logistics, processing and handling capabilities as an unparalleled midstream platform in the Gulf Coast oDeep…
GROWTH CAPITAL PROJECTS Expect to invest 325-375 million in growth capital around our refined products assets 40% of growth capital spend is uncommitted and could be deferred if necessary DOMESTIC PIPELINES & TERMINALS GLOBAL MARINE…
FINANCIAL OVERVIEW
FINANCIAL PERFORMANCE Adjusted EBITDA (in millions)(1)(2) Cash Distribution Coverage Ratio(1)(2)(3) Cash Distributions per Unit Declared(2) Rating Agency Leverage Ratio(4) 5.50x 5.30x 5.30x 4.80x 4.80x 2011 2012 2013 2014…
INVESTMENT SUMMARY Diverse portfolio of assets built through acquisitions and internal investment that deliver stable financial results despite volatile and depressed commodity price environment oPredominantly fee-based cash flows…
NON-GAAP RECONCILIATIONS
NON-GAAP FINANCIAL MEASURES Adjusted EBITDA and distributable cash flow are measures not defined by GAAP. Adjusted EBITDA is the primary measure used by our senior management, including our Chief Executive Officer, to (i) evaluate our…
NON-GAAP RECONCILIATIONS In millions, except coverage ratio 2011 2012 2013 2014 2015 Adjusted EBITDA from continuing operations (1)(2) : Domestic Pipelines & Terminals 368.9 422.7 486.5 532.1 522.2 Global Marine Terminals 113.0…
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