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ROADSHOW PRESENTATION – Veresen Inc.

Veresen Inc. · Sep 4, 2014 · 78 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. ROADSHOW PRESENTATION – Veresen Inc. – slide 1
    HY1 2014 ROADSHOW PRESENTATION ROADSHOW PRESENTATION The world The world of Vopak of Vopak
  2. ROADSHOW PRESENTATION – Veresen Inc. – slide 2
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead General Introduction 3
  3. ROADSHOW PRESENTATION – Veresen Inc. – slide 3
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopak and storage since 1616 Almost four centuries of history Vopaks oldest Terminal (Vlaardingen) Full control…
  4. ROADSHOW PRESENTATION – Veresen Inc. – slide 4
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead The world of Vopak Terminal Terminal(s) hub locations 5 Roadshow presentation HY1 2014
  5. ROADSHOW PRESENTATION – Veresen Inc. – slide 5
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead key figures HY1 2014 Total Revenues in mln Number of employees Total storage capacity Number of terminals 31…
  6. ROADSHOW PRESENTATION – Veresen Inc. – slide 6
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopaks role in the supply chain Focus on global hubs, major deficit markets, gas markets and industrial and…
  7. ROADSHOW PRESENTATION – Veresen Inc. – slide 7
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Requirement for independent storage Rationale for our clients Non-core activity Economies of scale Flexibility…
  8. ROADSHOW PRESENTATION – Veresen Inc. – slide 8
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopak business model Products Clients Crude oil International oil/chemical companies Oil products National…
  9. ROADSHOW PRESENTATION – Veresen Inc. – slide 9
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Strategic logistic functions of tank terminals Three types of terminals Hub Import/Export Industrial…
  10. ROADSHOW PRESENTATION – Veresen Inc. – slide 10
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopaks business model Blending nitrogen Adding / cooling Heating / unloading of ships / railcars / trucks…
  11. ROADSHOW PRESENTATION – Veresen Inc. – slide 11
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Original contract duration Robust contract portfolio with 80% contracts exceeding 1 year period Contract position…
  12. ROADSHOW PRESENTATION – Veresen Inc. – slide 12
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Business environment 13
  13. ROADSHOW PRESENTATION – Veresen Inc. – slide 13
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopak competitive environment Non-captive marine tank storage for liquid oil and chemical products Primary…
  14. ROADSHOW PRESENTATION – Veresen Inc. – slide 14
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopak: Global market leader In both oil and chemicals storage Storage Capacity as per 30 June 2014 In million…
  15. ROADSHOW PRESENTATION – Veresen Inc. – slide 15
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Market share according to definition Oil storage market Non oil storage market* Total storage market In million…
  16. ROADSHOW PRESENTATION – Veresen Inc. – slide 16
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Mega trends that drive storage demand Growth scenarios projected for 2035 by different institutions Population GDP…
  17. ROADSHOW PRESENTATION – Veresen Inc. – slide 17
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Key global features as driver for change On which Vopak should anticipate in the next decades A further…
  18. ROADSHOW PRESENTATION – Veresen Inc. – slide 18
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Product developments in HY1 2014 Stable business and focus on executing actions business review Oil products…
  19. ROADSHOW PRESENTATION – Veresen Inc. – slide 19
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Questions arising on the business Vopak has analyzed and quantified the boundaries US oil and gas export scenarios…
  20. ROADSHOW PRESENTATION – Veresen Inc. – slide 20
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Strategy and execution 21
  21. ROADSHOW PRESENTATION – Veresen Inc. – slide 21
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Overall strategy Aligning the execution of the strategy Growth Leadership Operational Excellence Customer…
  22. ROADSHOW PRESENTATION – Veresen Inc. – slide 22
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Business review Value creation options in terminal portfolio and execution Overall Strategy Terminal Portfolio…
  23. ROADSHOW PRESENTATION – Veresen Inc. – slide 23
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead 3 pillar strategy remains Shift of focus to create more value from core assets & core competencies Terminal…
  24. ROADSHOW PRESENTATION – Veresen Inc. – slide 24
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Terminal portfolio criteria Alignment of Vopaks terminal network Acquired Haiteng * Commissioned Divestment…
  25. ROADSHOW PRESENTATION – Veresen Inc. – slide 25
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Storage capacity developments Split by brownfield, greenfield, acquisition and realized divestments Storage…
  26. ROADSHOW PRESENTATION – Veresen Inc. – slide 26
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Execution of its business Benefit from increased understanding and know-how Sustaining & improvement…
  27. ROADSHOW PRESENTATION – Veresen Inc. – slide 27
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Execution of its business Operational excellence is core to Vopaks customer service offering Safety Efficiency…
  28. ROADSHOW PRESENTATION – Veresen Inc. – slide 28
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Sustainability The core of every decision Excellent people Safety and Health Environmental care Responsible…
  29. ROADSHOW PRESENTATION – Veresen Inc. – slide 29
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Safety Relentless focus on improving performance Total injury rate (TIR) Lost time injury rate (LTIR) Total…
  30. ROADSHOW PRESENTATION – Veresen Inc. – slide 30
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Cost efficiency We managed our cost base without compromising safety and service Group operational expenses per…
  31. ROADSHOW PRESENTATION – Veresen Inc. – slide 31
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Service improvements We continue to invest in infrastructure creating value to our customers Infrastructure…
  32. ROADSHOW PRESENTATION – Veresen Inc. – slide 32
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Storage capacity under construction 1. Only acting as operator; Vopak has a 10% interest in a joint service…
  33. ROADSHOW PRESENTATION – Veresen Inc. – slide 33
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Storage capacity under construction 3. Only acting as operator; Vopak Terminals Singapore (in which Vopak…
  34. ROADSHOW PRESENTATION – Veresen Inc. – slide 34
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Serving markets from a product perspective Alignment of network along defined terminial portfolio criteria Product…
  35. ROADSHOW PRESENTATION – Veresen Inc. – slide 35
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopaks commercial organization Global Regional Local Global sales & marketing Division Operating company…
  36. ROADSHOW PRESENTATION – Veresen Inc. – slide 36
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Global, regional and local clients Each client segment represents about 1/3 of Vopaks revenue Global clients…
  37. ROADSHOW PRESENTATION – Veresen Inc. – slide 37
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Business performance HY1 2014 38
  38. ROADSHOW PRESENTATION – Veresen Inc. – slide 38
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Results HY1 2014 Stable business and focus on executing actions business review Storage capacity* Occupancy…
  39. ROADSHOW PRESENTATION – Veresen Inc. – slide 39
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Topics influencing results HY1 2014 Capacity Currency effects Regulations expansions 40 Roadshow…
  40. ROADSHOW PRESENTATION – Veresen Inc. – slide 40
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Occupancy rate developments Q2 in line with Q1 and 2013 Occupancy rate In percent Full potential playing field…
  41. ROADSHOW PRESENTATION – Veresen Inc. – slide 41
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead EBIT(DA) margin development Selective growth strategy requires strong focus on margins EBIT(DA) margin In…
  42. ROADSHOW PRESENTATION – Veresen Inc. – slide 42
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopaks selective growth opportunities Strategic update: shaping well-diversified network according to portfolio…
  43. ROADSHOW PRESENTATION – Veresen Inc. – slide 43
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead HY1 2014 results 44
  44. ROADSHOW PRESENTATION – Veresen Inc. – slide 44
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Financial performance HY1 2014 Revenue impacted by FX, EBITDA impacted by FX and non-recurring items Revenues…
  45. ROADSHOW PRESENTATION – Veresen Inc. – slide 45
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead EBITDA development Q2 2014 lower than Q2 2013, higher than Q1 2014 EBITDA development In EUR million HY1 2013:…
  46. ROADSHOW PRESENTATION – Veresen Inc. – slide 46
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Organic EBITDA growth analysis Going forward: create more value from core assets and core capabilities 384.5…
  47. ROADSHOW PRESENTATION – Veresen Inc. – slide 47
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead EBITDA per division Organic growth Netherlands and Asia offset by FX and EMEA Netherlands EMEA EBITDA* -8% +4%…
  48. ROADSHOW PRESENTATION – Veresen Inc. – slide 48
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Occupancy rate Segmentation per division Netherlands EMEA -6pp +3pp 1pp -8pp Occupancy rate 90% 84% 87% 88% 89%…
  49. ROADSHOW PRESENTATION – Veresen Inc. – slide 49
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Net result of joint ventures Vopak E.O.S. impacted by difficult market circumstances Netherlands EMEA Joint…
  50. ROADSHOW PRESENTATION – Veresen Inc. – slide 50
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead EBIT HY1 2013 HY1 2014 Delta In EUR million In EUR million In EUR million Group operating profit 211.0 193.6 -…
  51. ROADSHOW PRESENTATION – Veresen Inc. – slide 51
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Cash flow Strategic update: sharpen focus on increasing free cash flow generation Cash flow from operating…
  52. ROADSHOW PRESENTATION – Veresen Inc. – slide 52
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Financial ratios HY1 2014 Going forward: focus on increasing cash flow return and improving capital efficiency…
  53. ROADSHOW PRESENTATION – Veresen Inc. – slide 53
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Non-IFRS proportionate financial information Proportionate EBITDA In EUR million 836 817 617 660 537 403 396…
  54. ROADSHOW PRESENTATION – Veresen Inc. – slide 54
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead FX translation effects Adverse translation effects of EUR 14.4 million in HY1 2014 HY1 2014 EBITDA transactional…
  55. ROADSHOW PRESENTATION – Veresen Inc. – slide 55
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Netherlands EBITDA* In EUR million 63.3 66.2 69.6 68.2 59.8 61.3 62.0 60.9 62.8 59.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3…
  56. ROADSHOW PRESENTATION – Veresen Inc. – slide 56
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead EMEA EBITDA* In EUR million 32.3 36.7 31.8 31.5 34.7 33.6 33.1 34.2 28.9 28.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1…
  57. ROADSHOW PRESENTATION – Veresen Inc. – slide 57
    General Business Strategy and Business Selective Looking introduction environment execution performance growth 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 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1…
  58. ROADSHOW PRESENTATION – Veresen Inc. – slide 58
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Americas EBITDA* In EUR million 27.3 24.4 24.9 25.6 24.0 28.0 23.3 25.9 22.1 21.2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
  59. ROADSHOW PRESENTATION – Veresen Inc. – slide 59
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Selective growth 60
  60. ROADSHOW PRESENTATION – Veresen Inc. – slide 60
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Capital disciplined consideration Balanced global terminal network management Investment and Risk-return…
  61. ROADSHOW PRESENTATION – Veresen Inc. – slide 61
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Return requirements for investment Important elements to consider Footprint in Optimization growth emerging…
  62. ROADSHOW PRESENTATION – Veresen Inc. – slide 62
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Risk-return profile per type of investment Vopaks capital disciplined growth: different concepts for different…
  63. ROADSHOW PRESENTATION – Veresen Inc. – slide 63
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Terminal portfolio criteria Updated criteria for alignment of our network Hub terminals Gasses Distribution…
  64. ROADSHOW PRESENTATION – Veresen Inc. – slide 64
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Capital disciplined consideration Stable solvency ratio Total equity and liabilities In EUR million 4,644…
  65. ROADSHOW PRESENTATION – Veresen Inc. – slide 65
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Selective capital disciplined growth Reduce other capex program to approx. EUR 700 million until 2016 Total…
  66. ROADSHOW PRESENTATION – Veresen Inc. – slide 66
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopak capital disciplined growth strategy Supported by a solid capital structure with balanced leverage 0 Net…
  67. ROADSHOW PRESENTATION – Veresen Inc. – slide 67
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Selective capital disciplined growth Senior net debt : EBITDA ratio Maximum ratio under other PP programs and…
  68. ROADSHOW PRESENTATION – Veresen Inc. – slide 68
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Vopaks capital structure Approval to repurchase and cancel preference shares Ordinary shares* Private placement…
  69. ROADSHOW PRESENTATION – Veresen Inc. – slide 69
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Balanced debt repayment schedule Average remaining maturity 9 years; average interest rate 4.5% Debt repayment…
  70. ROADSHOW PRESENTATION – Veresen Inc. – slide 70
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Net Finance costs aligned with growth Higher net financing costs weighed on 2013 EPS Net finance costs 2012 Net…
  71. ROADSHOW PRESENTATION – Veresen Inc. – slide 71
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead 2013 dividend EUR 0.90 per ordinary share (pay-out ratio: 37%) Dividend and EPS 2006-2013** In EUR 2.73 2.45…
  72. ROADSHOW PRESENTATION – Veresen Inc. – slide 72
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Looking ahead 73
  73. ROADSHOW PRESENTATION – Veresen Inc. – slide 73
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Outlook assumptions Vopak has updated its terminal portfolio criteria x% Share of EBITDA* Industrial terminals…
  74. ROADSHOW PRESENTATION – Veresen Inc. – slide 74
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Outlook Focus on cash flow return and EPS Vopak expects, basis of current market insights, to realize an…
  75. ROADSHOW PRESENTATION – Veresen Inc. – slide 75
    General Business Strategy and Business Selective Looking introduction environment execution performance growth ahead Outlook 2014 and financial update 2016 Alignment network and competitive position Growth strategy Full…
  76. ROADSHOW PRESENTATION – Veresen Inc. – slide 76
    General Business Strategy and Business Selective Looking introduction environment execution performance growth We have builtahead our company over 400 years on trust and reliability. Vopak Royal I Westerlaan 10 I…
  77. ROADSHOW PRESENTATION – Veresen Inc. – slide 77
    Cash flow We will sharpen our focus on capital efficiency and cash flow return Consolidated statement of cash flows In EUR million 3 43 28 367 343 127 115 2 171 142 Net cash Cash Interest / Finance Income Investing Finance…
  78. ROADSHOW PRESENTATION – Veresen Inc. – slide 78
    Other topics Effective tax rate* In percent 19.5 18.0 17.1 2011 2012 2013 * Excluding exceptional items. Pension cover ratio In percent +6pp 106 112 118 2011 2012 2013 79 Roadshow presentation HY1 2014

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