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Q3 Roadshow Presentation – Royal Vopak

Royal Vopak · Nov 17, 2014 · 60 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. Q3 Roadshow Presentation – Royal Vopak – slide 1
    Q3 2014 ROADSHOW PRESENTATION The world of Vopak
  2. Q3 Roadshow Presentation – Royal Vopak – slide 2
    General Market Company strategy Business Looking introduction trends and execution performance ahead General introduction 3 New Pengerang terminal commissioned phase 1A and 1B in 2014
  3. Q3 Roadshow Presentation – Royal Vopak – slide 3
    General Market Company strategy Business Looking introduction trends and execution performance ahead Vopak at a glance Building on an impressive Listed at the NYSE Euronext history of almost 400 years Market cap of EUR 5.4…
  4. Q3 Roadshow Presentation – Royal Vopak – slide 4
    General Market Company strategy Business Looking introduction trends and execution performance ahead Financial development and indicators EBITDA development Cash flow from operating activities (gross) In EUR million In EUR…
  5. Q3 Roadshow Presentation – Royal Vopak – slide 5
    General Market Company strategy Business Looking introduction trends and execution performance ahead Investment thesis Increasing global flows require storage infrastructure Diversified portfolio with presence at prime…
  6. Q3 Roadshow Presentation – Royal Vopak – slide 6
    General Market Company strategy Business Looking introduction trends and execution performance ahead Priorities for cash 1 Debt servicing EUR 1.8 billion, remaining maturity 8.4 years, average interest 4.1% 2 Dividend EUR 0.7b…
  7. Q3 Roadshow Presentation – Royal Vopak – slide 7
    General Market Company strategy Business Looking introduction trends and execution performance ahead Business challenges Strategic Operational Increasing competition People with the right skills Changing flows Expansion…
  8. Q3 Roadshow Presentation – Royal Vopak – slide 8
    General Market Company strategy Business Looking introduction trends and execution performance ahead Discussions from investor meetings Market dynamics Projects Overcapacity and pricing Projects under development pressure…
  9. Q3 Roadshow Presentation – Royal Vopak – slide 9
    General Market Company strategy Business Looking introduction trends and execution performance ahead Market trends 10 LNG carrier mooring at GATE terminal Rotterdam
  10. Q3 Roadshow Presentation – Royal Vopak – slide 10
    General Market Company strategy Business Looking introduction trends and execution performance ahead Trends driving storage demand Population GDP Energy demand 15-35% 70-170% 15-55% US oil and gas export scenarios LNG as…
  11. Q3 Roadshow Presentation – Royal Vopak – slide 11
    General Market Company strategy Business Looking introduction trends and execution performance ahead Trends in global oil imbalances and flows 12 Roadshow presentation Q3 2014
  12. Q3 Roadshow Presentation – Royal Vopak – slide 12
    General Market Company strategy Business Looking introduction trends and execution performance ahead Trends in global chemical imbalances and flows 13 Roadshow presentation Q3 2014
  13. Q3 Roadshow Presentation – Royal Vopak – slide 13
    General Market Company strategy Business Looking introduction trends and execution performance ahead Company strategy and execution 14 Manifold infrastructure at Pengerang terminal
  14. Q3 Roadshow Presentation – Royal Vopak – slide 14
    General Market Company strategy Business Looking introduction trends and execution performance ahead Overall strategy Growth Leadership Operational Excellence Customer Leadership Our Sustainability Foundation Safety and…
  15. Q3 Roadshow Presentation – Royal Vopak – slide 15
    General Market Company strategy Business Looking introduction trends and execution performance ahead Business objectives Terminal Portfolio Business Operations Organization Smart Growth Know-how capitalization Alignment…
  16. Q3 Roadshow Presentation – Royal Vopak – slide 16
    General Market Company strategy Business Looking introduction trends and execution performance ahead Selective capital disciplined growth 17 New LPG storage bullets for Vlissingen terminal
  17. Q3 Roadshow Presentation – Royal Vopak – slide 17
    General Market Company strategy Business Looking introduction trends and execution performance ahead Global presence Hamburg Gothenburg Malmo Sodertalje Gavle Kotka Hamina Tallinn Rotterdam Antwerp Shanghai Ningbo London Lanshan…
  18. Q3 Roadshow Presentation – Royal Vopak – slide 18
    General Market Company strategy Business Looking introduction trends and execution performance ahead Return requirements for investment Footprint in Optimization growth emerging markets opportunities I II First-mover Option…
  19. Q3 Roadshow Presentation – Royal Vopak – slide 19
    General Market Company strategy Business Looking introduction trends and execution performance ahead Investments and divestments Oil Haiteng Chemicals Industrial 890,000 cbm Gasses Banyan rock Divestments cavern…
  20. Q3 Roadshow Presentation – Royal Vopak – slide 20
    General Market Company strategy Business Looking introduction trends and execution performance ahead Storage capacity developments Storage capacity developments In million cbm; commissioned and under development +5.0 38.0 *…
  21. Q3 Roadshow Presentation – Royal Vopak – slide 21
    General Market Company strategy Business Looking introduction trends and execution performance ahead Vopaks selective growth opportunities Storage capacity In million cbm +5.0 +13.1 36.2 37.0 38.0 33.0 34.0 29.9 30.5 28.3…
  22. Q3 Roadshow Presentation – Royal Vopak – slide 22
    General Market Company strategy Business Looking introduction trends and execution performance ahead Storage capacity under construction Vopak's Capacity Country Terminal ownership Products (cbm) 2012 2013 2014 2015 2016 2017…
  23. Q3 Roadshow Presentation – Royal Vopak – slide 23
    General Market Company strategy Business Looking introduction trends and execution performance ahead Storage capacity under construction Vopak's Capacity Country Terminal ownership Products (cbm) 2012 2013 2014 2015 2016 2017 New…
  24. Q3 Roadshow Presentation – Royal Vopak – slide 24
    General Market Company strategy Business Looking introduction trends and execution performance ahead Selective capital disciplined growth Total investments 2008-2016 Expansion capex** In EUR million In EUR million; 100% = EUR 1,700…
  25. Q3 Roadshow Presentation – Royal Vopak – slide 25
    General Market Company strategy Business Looking introduction trends and execution performance ahead Selective capital disciplined growth Senior net debt : EBITDA ratio Maximum ratio under other PP programs and syndicated 5…
  26. Q3 Roadshow Presentation – Royal Vopak – slide 26
    General Market Company strategy Business Looking introduction trends and execution performance ahead Vopaks capital structure Ordinary shares* Private placement Syndicated revolving Equity(-like) Programs* credit facility*…
  27. Q3 Roadshow Presentation – Royal Vopak – slide 27
    General Market Company strategy Business Looking introduction trends and execution performance ahead Balanced debt repayment schedule Debt repayment schedule* In EUR million RCF flexibility US PP Other Subordinated US PP Asian…
  28. Q3 Roadshow Presentation – Royal Vopak – slide 28
    General Market Company strategy Business Looking introduction trends and execution performance ahead Customer leadership 29 Celebration commissioning of new base oil tank pit at Hamburg terminal
  29. Q3 Roadshow Presentation – Royal Vopak – slide 29
    General Market Company strategy Business Looking introduction trends and execution performance ahead Global, regional and local clients Global clients Regional clients Local clients Active at multiple Vopak Active in more than…
  30. Q3 Roadshow Presentation – Royal Vopak – slide 30
    General Market Company strategy Business Looking introduction trends and execution performance ahead Market share according to definition Oil storage market Non oil storage market* Total storage market In million cbm In million cbm…
  31. Q3 Roadshow Presentation – Royal Vopak – slide 31
    General Market Company strategy Business Looking introduction trends and execution performance ahead Original contract duration Contract position 2011 Contract position 2012 Contract position 2013 In percent of revenues In percent of…
  32. Q3 Roadshow Presentation – Royal Vopak – slide 32
    General Market Company strategy Business Looking introduction trends and execution performance ahead EBIT(DA) margin development Selective growth strategy requires strong focus on margins EBIT(DA) margin In percent 55 50 EBITDA…
  33. Q3 Roadshow Presentation – Royal Vopak – slide 33
    General Market Company strategy Business Looking introduction trends and execution performance ahead Operational excellence Dedicated product pipelines at manifold Westpoort terminal 34 Roadshow presentation Q3 2014
  34. Q3 Roadshow Presentation – Royal Vopak – slide 34
    General Market Company strategy Business Looking introduction trends and execution performance ahead Execution of its business Operational excellence is core to Vopaks customer service offering Safety Efficiency Service…
  35. Q3 Roadshow Presentation – Royal Vopak – slide 35
    General Market Company strategy Business Looking introduction trends and execution performance ahead Cost efficiency Group operational expenses per cbm per year Index 2004 = 100 140 Continuous 120 focus on cost 100 management…
  36. Q3 Roadshow Presentation – Royal Vopak – slide 36
    General Market Company strategy Business Looking introduction trends and execution performance ahead Sustainability Excellent people Safety and Health Environmental care Responsible partner Have the right people Provide a…
  37. Q3 Roadshow Presentation – Royal Vopak – slide 37
    General Market Company strategy Business Looking introduction trends and execution performance ahead Business performance 38 Vopak staff at the recently acquired Haiteng terminal
  38. Q3 Roadshow Presentation – Royal Vopak – slide 38
    General Market Company strategy Business Looking introduction trends and execution performance ahead Highlights Q3 2014 trading update Actions business review, 2 July, in progress Divestment program Capex reduction plans Sharpen…
  39. Q3 Roadshow Presentation – Royal Vopak – slide 39
    General Market Company strategy Business Looking introduction trends and execution performance ahead Q3 2014 summary EBITDA* EBIT* On 2 July 2014, Vopak In EUR million In EUR million published the outcome of the business review.…
  40. Q3 Roadshow Presentation – Royal Vopak – slide 40
    General Market Company strategy Business Looking introduction trends and execution performance ahead Q3 YTD 2014 summary EBITDA* EBIT* In EUR million In EUR million -1% 0% -4% -5% 576.4 570.1 568.4 427.5 412.1 392.8 Q3 YTD…
  41. Q3 Roadshow Presentation – Royal Vopak – slide 41
    General Market Company strategy Business Looking introduction trends and execution performance ahead Q3 YTD 2014 EBITDA analysis 12.1 11.8 570.1 568.4 15.3 0.7 4.5 557.1 13.0 1.1 Netherlands Asia Americas…
  42. Q3 Roadshow Presentation – Royal Vopak – slide 42
    General Market Company strategy Business Looking introduction trends and execution performance ahead Q3 YTD 2014 net result of joint ventures Netherlands EMEA -22% -53% 36.2 Net result of +64% +11% 28.3 joint ventures 1.8 2.0…
  43. Q3 Roadshow Presentation – Royal Vopak – slide 43
    General Market Company strategy Business Looking introduction trends and execution performance ahead Q3 YTD 2014 EBIT Q3 YTD 2013 Q3 YTD 2014 Delta In EUR million In EUR million In EUR million Group operating profit 318.2 296.5…
  44. Q3 Roadshow Presentation – Royal Vopak – slide 44
    General Market Company strategy Business Looking introduction trends and execution performance ahead Occupancy rate developments Occupancy rate In percent Full potential playing field 90-95% Current playing field 85-90%…
  45. Q3 Roadshow Presentation – Royal Vopak – slide 45
    General Market Company strategy Business Looking introduction trends and execution performance ahead Non-IFRS proportionate information Proportionate Q3 EBITDA* Proportionate Q3 YTD EBITDA* In EUR million In EUR million -4% +5%…
  46. Q3 Roadshow Presentation – Royal Vopak – slide 46
    General Market Company strategy Business Looking introduction trends and execution performance ahead Divisional results 47 New tankpit Midex at Europoort terminal
  47. Q3 Roadshow Presentation – Royal Vopak – slide 47
    General Market Company strategy Business Looking introduction trends and execution performance ahead Netherlands EBITDA* In EUR million 63.3 66.2 69.6 68.2 59.8 61.2 62.0 60.9 62.8 68.0 59.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
  48. Q3 Roadshow Presentation – Royal Vopak – slide 48
    General Market Company strategy Business Looking introduction trends and execution performance ahead EMEA EBITDA* In EUR million 32.3 36.7 31.8 31.5 34.7 33.6 33.0 34.2 30.4 28.9 28.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2012…
  49. Q3 Roadshow Presentation – Royal Vopak – slide 49
    General Market Company strategy Business Looking introduction trends and execution performance ahead Asia EBITDA* In EUR million 67.3 67.3 71.0 67.5 70.7 73.2 70.6 68.0 66.4 70.0 76.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2012…
  50. Q3 Roadshow Presentation – Royal Vopak – slide 50
    General Market Company strategy Business Looking introduction trends and execution performance ahead Americas EBITDA* In EUR million 27.3 24.4 24.9 25.6 24.0 28.0 23.3 25.9 26.3 22.1 21.2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3…
  51. Q3 Roadshow Presentation – Royal Vopak – slide 51
    General Market Company strategy Business Looking introduction trends and execution performance ahead Looking ahead 52 Preparations for the phase VII 478,000 cbm expansion in Fujairah
  52. Q3 Roadshow Presentation – Royal Vopak – slide 52
    General Market Company strategy Business Looking introduction trends and execution performance ahead Outlook assumptions x% Share of EBITDA* Industrial terminals Biofuels & Oil products Chemicals & other pipeline LNG connected…
  53. Q3 Roadshow Presentation – Royal Vopak – slide 53
    General Market Company strategy Business Looking introduction trends and execution performance ahead Outlook 2014 EBITDA -excluding exceptional items- outlook In EUR million 753 -5% 740 700 Spot Difficult Currency contracts…
  54. Q3 Roadshow Presentation – Royal Vopak – slide 54
    General Market Company strategy Business Looking introduction trends and execution performance ahead Financial update 2016 Bar size for illustration purposes only Q3 2014 Expansions Divestments Productivity and FX and…
  55. Q3 Roadshow Presentation – Royal Vopak – slide 55
    General Market Company strategy Business Looking introduction trends and execution performance ahead Other topics 56 Tanks under construction at Hainan terminal
  56. Q3 Roadshow Presentation – Royal Vopak – slide 56
    General Market Company strategy Business Looking introduction trends and execution performance ahead Cash flow HY1 2014 Consolidated statement of cash flows In EUR million 3 43 28 367 343 127 115 2 171 142 Net cash Cash…
  57. Q3 Roadshow Presentation – Royal Vopak – slide 57
    General Market Company strategy Business Looking introduction trends and execution performance ahead Cash flow HY1 2014 Cash flow from operating activities (gross) In EUR million 713 659 496 352 451 455 387 367 335 286…
  58. Q3 Roadshow Presentation – Royal Vopak – slide 58
    General Market Company strategy Business Looking introduction trends and execution performance ahead Financial ratios HY1 2014 ROCE* ROE** In % In % 20.8% 19.5% 18.5% 17.3% 15.2% 14.6% HY1 2012 HY1 2013 HY1 2014 HY1…
  59. Q3 Roadshow Presentation – Royal Vopak – slide 59
    General Market Company strategy Business Looking introduction trends and execution performance ahead Other topics Effective tax rate* In percent 19.5 18.0 17.1 2011 2012 2013 * Excluding exceptional items. Pension cover…
  60. Q3 Roadshow Presentation – Royal Vopak – slide 60
    General Market Company strategy Business Looking introduction trends and execution We have built performance ahead our company over 400 years on trust and reliability Vopak Royal I Westerlaan 10 I 3016 CK…

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