4th Quarter 2014 Results (unaudited) 12 February 2015 1
Agenda 4th Quarter 2014 Highlights Financial Review Market update Outlook Company market Q&A 3
2. Strategy Highlights 4
Highlights for Q4 S&P Sales (deliveries) Delivery of Suezmax Cap Isabella Purchases (deliveries) Delivery of VLCC Sandra (Oct 2014) Delivery of VLCC Hojo (Dec 2014) Delivery of VLCC Hakone (Dec 2014) Time Charter In VLCC KHK…
Financial Overview 6
Financial Highlights Income Statement All figures have been prepared under IFRS as adopted by EU and have not been reviewed by the auditors. The comparative figures for 2013 have been restated following application of IFRS…
Financial Highlights P&L 4Q14 Results Net Loss : -USD 4.1m Net Loss per share: -USD 0.03 Exceptional items: Bond OID amortization: - USD 20.4m Deferred Tax Assets: USD 5.8m Cap Isabella sale (on Bareboat to us): USD 4.3 million in…
Financial Highlights Balance Sheet 9
P&L cost Breakeven Estimated P&L breakeven rates for vessel in spot market For the year 2015 (USD/day) VLCC: 27,700 Suezmax: 22,700 Comments: After repayment of the USD 235m foreseen in February. 10
Income on time charter basis 2014 2013 Q4 FY Q4 FY VLCC operated in TI Pool 31,665 27,625 27,900 20,450 VLCC under TC contracts* 33,415 38,538 37,650 42,800 Suezmax operated in the spot by Euronav 24,248 23,382 17,600 16,575…
Euronav Fleet Operating Days 2014 Total fleet operating days 2014: 14,433 Total fleet operating days 4Q14: 4,211 DRYDOCKS in 2014 Type of Vessel of offhire days Period VLCC 16 2Q14 Suezmax 24 3Q14 Suezmax 19 4Q14 12
Tanker Market update 13
VLCC Tanker Fleet Developments 14
Suezmax Tanker Fleet Developments 15
TCE rates 16
Vessel values 17
Current themes 1.Contango 2.Slow steaming 3.Bunker Costs 18
Outlook 19
Euronav outlook 1Q15 Highlights Corporate NYSE Listing USD 229 million Repayment of the Mezzanine USD 235 million - Repayment of convertible bond 2015 USD 23.1 million Repayment of sellers credit USD 40 million Conversion of…
Market outlook Demand for Oil remains robust - AG exports in Jan & Feb 2015 show month over month gains on 2014 - 50 fall in Oil Price equivalent to Global QE stimulus package - Chinese SRP 2015 expanded rollout of storage…
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