MMLP Nondeal Road Show September 29th October 1st, 2014 NASDAQ: MMLP www.martinmidstream.com
USE OF NONGAAP FINANCIAL MEASURES This presentation includes certain nonGAAP financial measures such as EBITDA and Adjusted EBITDA. These non GAAP financial measures are not meant to be considered in isolation or as a substitute for…
PARTNERSHIP OVERVIEW
MARTIN MIDSTREAM PARTNERS L.P. (MMLP) OVERVIEW NASDAQ Listed: MMLP Formed October 31, 2002 MMLP is a publicly traded, diversified master limited partnership with operations including: Terminalling & Storage Natural Gas Services…
KEY INVESTMENT HIGHLIGHTS Majority of cash flows generated from feebased or feelike contracts FeeBased Contracts Significant portions consist of reservation charges or minimum fee arrangements Fully Integrated, Diversified asset…
OUR DIVERSIFIED OPERATING MIX Natural Gas Services Marine Transportation 60.0 15.0 180 Million Sulfur Services Terminalling & Storage 30.0 (all values before unallocated SG&A) 75.0 7
MMLP ASSET LOCATIONS ALL SEGMENTS 8
STABLE BUSINESSES/NO DIRECT COMMODITY EXPOSURE Terminalling & Storage Multiyear, feebased contracts traditional storage assets Feebased specialty products and shorebased terminals with guaranteed throughput minimums Marginbased…
HIGH QUALITY LONG TERM CUSTOMER BASE Integrated and complementary business segments uniquely position MMLP Full value chain handling and logistics capabilities and solutions Longterm customer relationships are a key driver of our…
MARTIN RESOURCE MANAGEMENT (MRMC) OVERVIEW Based in Kilgore, TX, MRMC is a leading independent provider of integrated logistics solutions, storage, manufacturing, marketing, and distribution services to energy, petrochemical and…
STRONG GENERAL PARTNER SUPPORT Ongoing MRMC businesses help support the Partnership Maintains distinct set of assets and business units that Martin Resource are complementary to MMLP Management Corporation Approximately 22% of…
ANNOUNCED & LIKELY GROWTH OPPORTUNITIES Corpus Christi condensate splitter / stabilization unit 24 to 30 Months Up to 50 thousand barrels per day of capacity Feebased contractual arrangement with supply and offtake counterparties…
BUSINESS SEGMENT OVERVIEW
TERMINALLING & STORAGE
SEGMENT OVERVIEW TERMINALLING & STORAGE MMLP owns or operates 47 terminal facilities with Adjusted Segment EBITDA (1) 67.1 4.2 million barrels of aggregate storage capacity 70.0 in in millions millions across the U.S. Gulf Coast…
TERMINALLING & STORAGE SHOREBASED TERMINALS 30 marine shore based terminals located at strategic distribution points along the Gulf Coast from Theodore, AL, to Corpus Christi, TX, and divided into two classes: Full service Fuel…
TERMINALLING & STORAGE SPECIALITY TERMINALS 17 specialty terminal facilities with aggregate storage capacity of 3.5 million barrels Provide storage and handling services for a broad range of products including ammonia, asphalt,…
TERMINALLING & STORAGE CORPUS CHRISTI CRUDE TERMINAL (CCCT) Strategically located at the primary downstream delivery point for growing Eagle Ford Shale production (Terminal point of the Harvest Pipeline) Initial operations began in…
TERMINALLING & STORAGE SMACKOVER REFINERY November 2009 dropdown from MRMC for 45 million 7,700 bpd nameplate capacity naphthenic lube refinery in Smackover, AR Approximately 10% of total US naphthenic lube market share…
TERMINALLING & STORAGE PACKAGING ASSETS October 2012 dropdown of specialty lubricant product blending and packaging assets in Smackover, AR; entire platform rebranded as Martin Lubricants 235,000 sq. ft. warehouse 5.3 million…
NATURAL GAS SERVICES
SEGMENT OVERVIEW NATURAL GAS SERVICES MMLPs Natural Gas Services segment has significantly Adjusted Segment EBITDA (1) changed since 2012 40.0 in millions 34.9 Recent acquisition of remaining 57.8% of Cardinal Gas 30.0 Storage…
NATURAL GAS SERVICES CARDINAL GAS STORAGE Transaction Overview: Strategically Located Assets On September 2nd MMLP purchased the remaining 57.8% of Cardinal Gas Storage Partners from Energy Capital Partners 120 million cash paid for…
NATURAL GAS SERVICES CARDINAL GAS STORAGE Longterm natural gas storage markets: Demand Growth Over the next 5 to 10 years growing demand in the form of LNG exports, increasing industrial and petrochemical use, coalfired power plant…
NATURAL GAS SERVICES WEST TEXAS LPG PIPELINE L.P. On May 14th, Martin Midstream Partners L.P. closed the acquisition of 19.8% limited partnership interest and 0.2% general partnership interest in West Texas LPG Pipeline L.P. (WTLPG).…
SULFUR SERVICES
SEGMENT OVERVIEW SULFUR SERVICES MMLPs Sulfur Services includes the following key assets: Adjusted Segment EBITDA 4 sulfur prillers (Texas & California) with a combined 50.0 44.6 prilling capacity of 6,500 tons per day 7…
SULFUR SERVICES LEGACY SULFUR INTEGRATED VALUE CHAIN Provides transportation, processing and marketing services necessary to move product from producer to consumer Intermodal transportation offers multiple fee opportunities for the…
MARINE TRANSPORTATION
SEGMENT OVERVIEW MARINE TRANSPORTATION MMLPs Marine Transportation segment includes the following key assets: 56 inland marine tank barges 26 inland pushboats 4 offshore tug barge units Ability to handle specialty products…
MARINE TRANSPORTATION: ASSETS/CONTRACT STRUCTURE Asset(s) Description Services Size (Total Capacity) Location Products Profitability Drivers 56 inland marine tank barges Marine transportation of Inland barges from under Inland GICW…
FINANCIAL OVERVIEW
CONSERVATIVE FINANCIAL STRATEGY Target Leverage: Less than 4.50x Total Debt to EBITDA Distribution Policy: Conservative approach to LP distributions Growth Opportunities: Predominantly organic growth in both natural gas services and…
FURTHER FINANCIAL INFORMATION EBITDA RECONCILIATIONS
Loading...
