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Analyst Presentation – Vopak

Vopak · Feb 27, 2015 · 55 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. Analyst Presentation – Vopak – slide 1
    FY 2014 27 FEBRUARY 2015 ANALYST PRESENTATION 2014 Results
  2. Analyst Presentation – Vopak – slide 2
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Connecting flows Analyst presentation FY 2014 27 February 2015
  3. Analyst Presentation – Vopak – slide 3
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Vopaks ambition Presence Safety and Strong link Value Our at prime service supply creation values locations…
  4. Analyst Presentation – Vopak – slide 4
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Our strategic framework Growth Operational Customer leadership leadership leadership Our Sustainability…
  5. Analyst Presentation – Vopak – slide 5
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Strategy execution Strategic Divestment Reduce * Reduce * Growth Program Capex Cost base 4 15 100 30 categories…
  6. Analyst Presentation – Vopak – slide 6
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Product developments 2014 Oil production exceeds Chemicals: North Biofuels demand is LNG trade grew with demand…
  7. Analyst Presentation – Vopak – slide 7
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Topics influencing 2014 results Capacity Geopolitics Oil price Currency expansions and regulation volatility…
  8. Analyst Presentation – Vopak – slide 8
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Results 2014 Terminal EBITDA Network * Excl. ex items *** 33.8 763 In million cbm In EUR million Occupancy Cash…
  9. Analyst Presentation – Vopak – slide 9
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Strategy in execution 10 Analyst presentation FY 2014 27 February 2015
  10. Analyst Presentation – Vopak – slide 10
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Investments and divestments Oil Haiteng Chemicals (Industrial terminal) Industrial 890,000 cbm Gasses Banyan…
  11. Analyst Presentation – Vopak – slide 11
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Storage capacity developments Storage capacity developments In million cbm; commissioned and under…
  12. Analyst Presentation – Vopak – slide 12
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Safety performance Total injury rate (TIR) Lost time injury rate (LTIR) Total injuries per 200,000 hours worked by…
  13. Analyst Presentation – Vopak – slide 13
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Service improvements Jetty upgrades New rail loading spots Sebarok, Singapore Savannah, US Manifold Port…
  14. Analyst Presentation – Vopak – slide 14
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Efficiency enhancements Sustaining & Organizational Leverage on improvement productivity standards and capex…
  15. Analyst Presentation – Vopak – slide 15
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Key topics We are grateful towards our employees, customers and all stakeholders for their continued trust in our…
  16. Analyst Presentation – Vopak – slide 16
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Business performance 17 Analyst presentation FY 2014 27 February 2015
  17. Analyst Presentation – Vopak – slide 17
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Key topics 2014 EBITDA ended at high-end of expectations Strategic focus and actions on track Encouraging…
  18. Analyst Presentation – Vopak – slide 18
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Outlook development 2014 763 753 -5% 740 700 -10% 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 19 Analyst…
  19. Analyst Presentation – Vopak – slide 19
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers EBITDA development Alignment network and competitive position Comprehensive scenario planning Full potential…
  20. Analyst Presentation – Vopak – slide 20
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers EBITDA development EBITDA development In EUR million 202 196 196 194 193 192 187 189 187 185 183 180 Q1…
  21. Analyst Presentation – Vopak – slide 21
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Q4 2014 summary EBITDA* EBIT* In EUR million In EUR million -5% +6% -10% +5% 192.0 183.0 194.4 138.2 124.2…
  22. Analyst Presentation – Vopak – slide 22
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 summary Revenues EBITDA* EBIT* In EUR million In EUR million In EUR million -1% +2% -2% +1% 1,314 1,295…
  23. Analyst Presentation – Vopak – slide 23
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 EBITDA analysis 17.2 10.9 18.8 762.8 2.4 12.3 1.3 753.1 746.2 6.9 1.3 Americas…
  24. Analyst Presentation – Vopak – slide 24
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 EBIT 2013 2014 In EUR million In EUR million Group operating profit 411.1 394.0 Net result joint ventures…
  25. Analyst Presentation – Vopak – slide 25
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Occupancy rate developments Occupancy rate In percent Full potential playing field 90-95% Current playing field…
  26. Analyst Presentation – Vopak – slide 26
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Occupancy rate per division Netherlands EMEA -6pp +4pp 0pp -4pp 89% 83% 87% 88% 88% 84% Occupancy rate -3pp 0pp…
  27. Analyst Presentation – Vopak – slide 27
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Original contract duration Contract position 2012 Contract position 2013 Contract position 2014 In percent of revenues…
  28. Analyst Presentation – Vopak – slide 28
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers EBIT(DA) margin development EBIT(DA) margin In percent 55 50 45 EBITDA margin 40 35 30 EBIT margin 25…
  29. Analyst Presentation – Vopak – slide 29
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Cash flow developments Cash flow from operating activities (net) In EUR million 703 660 619 449 475 416 358…
  30. Analyst Presentation – Vopak – slide 30
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Non-IFRS proportional information Proportionate EBITDA* In EUR million 836 817 824 617 660 537 2009 2010 2011…
  31. Analyst Presentation – Vopak – slide 31
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Financial ratios 2014 Non-IFRS ROCE* ROE** Proportional information In % In % CFROGA*** 21.9% In % 18.8%…
  32. Analyst Presentation – Vopak – slide 32
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Selective growth 33 Analyst presentation FY 2014 27 February 2015
  33. Analyst Presentation – Vopak – slide 33
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Solvency ratio Total equity and liabilities In EUR million 5,226 4,644 4,386 4,152 3,649 Net 64% liabilities*…
  34. Analyst Presentation – Vopak – slide 34
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Selective growth opportunities Storage capacity In million cbm +5.9 +13.9 39.7 36.6 37.6 37.6 36.7 33.8 29.9…
  35. Analyst Presentation – Vopak – slide 35
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Selective capital disciplined growth Total investments 2005-2019 Expansion capex** In EUR million In EUR million;…
  36. Analyst Presentation – Vopak – slide 36
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Selective capital disciplined growth Senior net debt : EBITDA ratio Maximum ratio under other PP programs and…
  37. Analyst Presentation – Vopak – slide 37
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Proposed 2014 dividend Dividend and EPS 2006-2014** In EUR 2.73 2.45 2.31 Dividend policy: 2.08 2.16 1.92 1.62…
  38. Analyst Presentation – Vopak – slide 38
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Vopaks capital structure Syndicated Ordinary shares Private placement Equity(-like)* revolving program* credit…
  39. Analyst Presentation – Vopak – slide 39
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Looking ahead 40 Analyst presentation FY 2014 27 February 2015
  40. Analyst Presentation – Vopak – slide 40
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Results FY 2014 Terminal EBITDA Network * Excl. ex items *** 33.8 763 In million cbm In EUR million Occupancy Cash…
  41. Analyst Presentation – Vopak – slide 41
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Outlook assumptions x% Share of EBITDA* Industrial terminals Biofuels & LNG Oil products Chemicals & other…
  42. Analyst Presentation – Vopak – slide 42
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Outlook elements 2014 Expansions Divestments Productivity and Fx and Uncertainties incl. 2015 and organisations…
  43. Analyst Presentation – Vopak – slide 43
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Questions answers Analyst presentation FY 2014 27 February 2015 44
  44. Analyst Presentation – Vopak – slide 44
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead We have built answers our company over 400 years on trust and reliability Analyst presentation FY2014…
  45. Analyst Presentation – Vopak – slide 45
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Appendix 46 Analyst presentation FY 2014 27 February 2015
  46. Analyst Presentation – Vopak – slide 46
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 Revenues per division Netherlands EMEA -3% 0% Revenues 457.6 +5% +4% 442.5 442.1 235.9 248.2 257.6 -1%…
  47. Analyst Presentation – Vopak – slide 47
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 EBITDA per division Netherlands EMEA -9% +4% EBITDA* 267.3 +2% -13% 242.6 252.7 132.3 135.6 118.3 -2%…
  48. Analyst Presentation – Vopak – slide 48
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers 2014 net result of joint ventures Netherlands EMEA -23% -50% 46.6 Net result of +26% +4% 35.9 joint ventures 2.4…
  49. Analyst Presentation – Vopak – slide 49
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Netherlands EBITDA* In EUR million 59.8 59.5 61.3 62.0 60.9 62.8 68.0 61.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013…
  50. Analyst Presentation – Vopak – slide 50
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers EMEA EBITDA* In EUR million 34.7 33.6 33.1 34.2 28.9 30.4 30.9 28.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2013…
  51. Analyst Presentation – Vopak – slide 51
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Asia EBITDA* In EUR million 70.7 73.2 70.6 68.0 66.4 70.0 76.9 77.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2013 2013…
  52. Analyst Presentation – Vopak – slide 52
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Americas EBITDA* In EUR million 28.0 25.9 26.3 29.5 24.0 22.1 21.2 23.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2013…
  53. Analyst Presentation – Vopak – slide 53
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers FX translation effects 2014 EBITDA transactional currencies FX translation-effect on 2013 EBITDA In percent In EUR…
  54. Analyst Presentation – Vopak – slide 54
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Debt repayment schedule Debt repayment schedule In EUR million RCF flexibility US PP RCF drawn Asian PP…
  55. Analyst Presentation – Vopak – slide 55
    Connecting Strategy Business Selective Looking Question & Appendix flows execution performance growth ahead answers Net finance costs Net finance costs 2013 Net finance costs 2014 In EUR million In EUR million Interest and…

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