Delek Logistics Partners, LP Current Price: 32.64/unit (1) Market Capitalization: 788 million (1) Overview (NYSE: DKL) Distribution: 0.425/unit quarter; 1.70/unit annualized (2) Current Yield: 5.2% 1Q14 Distributable Cash Flow (DCF)…
Delek US A Growth Oriented, Financially Strong Sponsor 140,000 bpd of refining capacity in Texas and Arkansas Operational Strength Access to crude / product terminals, pipeline and storage assets 361 convenience stores(1) 1.8 billion…
Delek Logistics Partners, LP Overview
Stable Asset Base Positioned for Growth Growing logistics assets support crude sourcing and product marketing Pipelines/Transportation Segment 400 miles of crude transportation pipelines, includes the 195 mile crude oil pipeline…
Continued Increase in SALA Gathering System Provides access to local Arkansas, east Texas and north Louisiana crudes to Delek USs El Dorado refinery. 600 mile crude oil gathering system, primarily within a 60-mile radius of the El…
Lion Pipeline System Potential Throughput Increase Provides non-gathered crude oil to Delek US El Dorado refinery. Connects refinery to Enterprise TE Products Pipeline. Throughput may benefit from improvements at Delek US El Dorado…
West Texas Wholesale Business Margins Remain Strong Achieved record volume in 2013. Operates in an area around the Permian Basin; benefiting from robust economic activity. Purchases refined products from third parties for resale at…
East Texas Marketing Volume Continues to Increase Volumes have been increasing as Delek US Tyler refinery utilization improves; 1Q2014 volume 37% above 2009 level. Exclusive rights to market 100% of the refined products output of Delek…
Terminals Growing Asset Base Refined products terminalling services for Delek and/or third parties. Nashville, TN Serves Deleks retail segment and independent third parties Memphis, TN Supplied directly from El Dorado refinery…
DKL: Several Visible Pathways to Growth Dropdowns 5 - 10 Million of potential EBITDA expected to be dropped down over next 12 months from Delek 25,000 bpd (light crude) rail offloading facility at El Dorado refinery US 300,000 bbl…
DKL: Recent Acquisitions Approximately 22.1 million of expected annual EBITDA First drop down from Delek US after the IPO, acquired July 26, 2013 Tyler Tank Purchase price: 94.8 million Assets Include: Farm and 72,000 bpd capacity…
Paline Pipeline Potential EBITDA Increase in 2015 195 mile crude oil pipeline - Mainline pipeline flow reversed from northbound to southbound. 100% of mainline capacity contracted to major oil company through 12/31/2014 Current…
Financial Overview
Improving EBITDA Performance Strong start to 2014 70.0 60.0 50.0 in millions 63.8 40.0 30.0 47.2 48.9 +30% 20.0 10.0 20.2 15.5 - 2011 Pro Forma(1) Forecast 12 Months Ended Actual 12 Months Ended 1Q13 (2) 1Q14 (2)…
Increased Distribution with Conservative Coverage Distribution has been increased five consecutive times since the IPO 0.440 Quarterly Distribution Growth to Date 0.420 in millions 0.400 0.380 0.425 0.415 0.405 0.395 0.360…
Questions and Answers Majority of assets support Primarily Traditional, Delek US strategically stable MLP assets located inland refining system Limited commodity price Inflation-indexed fees for exposure most contracts…
Appendix
Delek US' Refineries are Strategically Positioned and Flexible Tyler Refinery (1) El Dorado Refinery (1) Inland refinery located in East Texas Inland refinery located in southern Arkansas 60,000 bpd, 9.5 complexity 80,000 bpd, 9.0…
Summary of Certain Contracts (10) Termination Provision Year Ended Dec. 31, 2013 Minimum Tariff / Fee Refinery Initial / Maximum Term (1) Service Throughput (bpd) (2) Commitment (bpd) Tariff / Fee Escalator Shutdown Force Majeure…
Summary of Certain Contracts - footnotes (1) Maximum term gives effect to the extension of the commercial agreement pursuant to the terms thereof. (2) Represents average daily throughput for the period indicated, excluding jet fuel and…
Amended and Restated Omnibus Agreement ROFO Under the omnibus agreement, Delek Logistics has a ROFO for 10-years post IPO if Delek US decides to sell the following assets: Rail offloading racks in the El Dorado refinery. Delek…
Summary Organization Structure Delek US Holdings, Inc. Delek Logistics GP, LLC Public Unitholders NYSE: DK 96.6% (the General Partner) ownership interest (1) 48.7% interest 11.3% interest Limited partner-subordinated Limited…
Non-GAAP Reconciliation Delek Logistics Partners LP EBITDA and Contribution Margin Reconciliation Pro Forma Forecast Actual Actual Actual Actual Actual Actual 12 Months 12 Months 3 Months 3 Months 3 Months 3 Months 12 Months 3 Months…
Cash Available for Distribution Pro Forma Forecast Actual Actual Actual Actual Actual Actual 12 Months 12 Months 12 Months 3 Months 3 Months 3 Months 3 Months 3 Months (dollars in millions) 12/31/11 9/30/13 (3) 12/31/13 (4) 3/31/13 (4)…
Non-GAAP Reconciliation Delek US LTM EBITDA Reconciliation Year Ended 12/31 3 Months Ended March 31, LTM 2011 2012 2013 2013 2014 3/31/14 Operating Income 286.1 473.1 237.7 134.4 67.7 171.0 Loss on Sale of Assets 3.6 (0.1) - - - -…
Investor Relations Contact: Assi Ginzburg Keith Johnson Executive Vice President, CFO Vice President of Investor Relations 615-435-1452 615-435-1366 29
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