Use of Non-GAAP Financial Measures Product Margin Global Partners views product margin as an important performance measure of the core profitability of its operations. The Partnership reviews product margin monthly for consistency and…
Global Partners at a Glance Master limited partnership engaged in midstream logistics and marketing Leader in the purchasing, selling and logistics of transporting domestic and Canadian crude oil and other energy products by rail…
Investment Highlights Single line haul virtual pipeline of highly valuable, origin-to-destination terminal assets in North Dakota, New Critical Logistics York and Oregon Infrastructure Serving Critical infrastructure provides…
Business Mission Leadership in gathering, storage, transportation and marketing of refined petroleum products, crude oil, renewable fuels, natural gas and propane. 6
Vital Role in Energy Infrastructure Recurring nature of our business 158 million bbls per year* 930,000 automobile tanks of gas filled a day* 18,000 diesel trucks fueled a day* Source 44,000 homes a day of heating oil delivered…
Business History Company Origins Diversification into Expansion into Retail Rail Expansion: Crude, Ethanol and Distillates Wholesaler Transportation Fuels Gasoline Operations Propane Distribution 1933: Founded as a retail heating 2007:…
Recent Highlights Energy by Rail Activities Partnering with Kansas City Southern on new unit train terminal in Port Arthur, TX Expanding crude oil gathering capabilities in Bakken through pipeline connections Construction of 170,000…
Business Overview
Globals Diversified Business Mix Gasoline Distribution & Wholesale Commercial Station Operations Business overview Business overview Business overview Bulk purchase, movement, storage and Sales and deliveries to end user customers…
Wholesale Terminals Northeast Global has 9.2 million bbls of terminal capacity in the Northeast Key to Terminal Type Burlington, VT: 419K bbls Distillate Wethersfield, CT: 183K bbls Ethanol Springfield, MA: 54K bbls…
Wholesale Supply Infrastructure Supply Infrastructure: Limited Product Pipelines in Northeast Limited Crude Pipelines to East and West Coasts Vancouver Anacortes Billings Minneapolis Chicago Casper Salt Guernsey 0.9 1.5 Lake…
GLPs Primary Terminal Assets and Rack Locations T T T T Key to Terminal Type Distillate Ethanol Gasoline/Distillate/Ethanol Residual/Distillate Residual/Distillate/Biofuel Distillate/Biofuel…
Unique Origin-to-Destination Assets Global Partners Single Line Haul, East-West Infrastructure Clatskanie, OR Terminal Basin Columbus, ND (CP) Basin Beulah, ND (BNSF) Albany, NY Terminal Storage capacity = 200,000 barrels…
Globals North Dakota Pipeline Connections Basin Columbus z Divide Header Lignite MT ND MN Station SD WY Basin Beulah Name, ND Tesoro High Plains Pipeline System Dunn Center Meadowlark Oil Gathering System Station…
Port Arthur, TX Terminal Design, build and operate unit train crude oil terminal Joint agreement with Kansas City Southern, which connects with all other Class I railroads in North America Terminal will initially handle heavy crude…
Positioned to Benefit From Energy Resurgence Refining Capacity by Region U.S. Oil and Liquid Fuels Production (mm bpd) 15 Refining Capacity Imported Crude Imports as a Percent Region (mmbpd) (mmbpd) of PADD PADD I 1.30 0.70 53.85% 10…
Albany Propane Terminal In 2013, opened rail-fed propane and butane storage and distribution terminal Can source advantaged propane and butane directly from Midwest and Canadian sources via single-line haul on Canadian Pacific…
Gasoline Distribution and Station Operations Key Facts and Figures Strategic Advantages 305 owned and 235 leased gas stations Annuity business: Year-round rental income from leased stations and margin from transportation fuel and…
Gas Station Locations* (*Excludes Getty) 22
Financial Summary
Q2 and 1H 2014 Financial Performance Results for Q2 2014 reflect backwardation in the ethanol market and higher SG&A and operating expenses to support our growing business Q2 crude oil product margin increased 10.4mm over Q2 2013 Q2…
Diversified Product Margin Product Margin by Business Segment TTM as of 6/30/2014 559MM Rent & C-Store Wholesale 15% Crude 18% Gasoline Distribution & Station Wholesale Operations (GDSO) Gasoline Distillates & Wholesale 43%…
Selected Distribution History 2.55 2.35 0.6375 2.10 2.00 0.5875 1.95 1.95 0.525 0.50 0.4875 0.4875 Q2 2009 Q2 2010 Q2 2011 Q2 2012 Q2 2013 Q2 2014 Quarterly Distribution Annualized Rate Distribution Coverage Ratio:…
Commodity Risk Management Goal is to have inventory substantially hedged Primarily NYMEX-Traded Instruments 29
Supply and Customer Diversification Supply Department Credit Department Supply expertise in the areas of strategic Rigorous credit approval procedures purchasing, blending activities and product Not a marketing tool additives Focus…
Balance Sheet at June 30, 2014 Balance sheet highlights Balance sheet highlights Tangible and liquid with receivables and inventory comprising 47% of 307mm (32%) of total debt at 6/30/14 related to inventory financing total assets at…
Global Partners LP Q2 2014 Investor Presentation
Appendix Product Margin Reconciliation GLOBAL PARTNERS LP FINANCIAL RECONCILIATIONS - PRODUCT MARGIN (In thousands) (Unaudited) Trailing Twelve Three Months Ended Six Months Ended Months Ended Year Ended December 31, June 30, June…
Appendix EBITDA Reconciliation 34
Appendix Distributable Cash Flow Reconciliation GLOBAL PARTNERS LP FINANCIAL RECONCILIATIONS - DISTRIBUTABLE CASH FLOW (In thousands) (Unaudited) Trailing Twelve Year Ended Three Months Ended Six Months Ended Months Ended December…
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