Royal Vopak NV · EURONEXT:VPK
Royal Vopak NV — Investor Presentation (December 2003)
23 slides from Royal Vopak NV's investor presentation, Dec 3, 2003
Slide 1: Vopak Latin America
Vopak Latin America PROFESSIONALS IN LIQUID BULK LOGISTICS Rotterdam, December 3rd, 2003
Slide 2: Latin America Division
Latin America Division 2
Slide 3: Vopak Latin America numbers
Colombia Colterminales - Barranquilla 21,300 Colterminales - Cartagena 8,000 Mexico Vopak Altamira 62,600 Vopak Veracruz 119,000 Venezuela Vopak Coatzacoalcos 17,000 Venterminales - Puerto Cabello 89,200 Ecuador (50% ) Sipressa - Guayaqui 19,300 Brazil Vopak Brasterminais Aratu 62,500 Vopak Brasterm
Slide 4: This is Vopak LA
This is Vopak LA • Started only 6 years ago • Now Regional Market Leader • 13 terminals in 7 countries • Follows the clients (also in difficult areas) • Strong with Multinationals and Regional Groups • Decentralized • Local Multinational Vopak network – SHE – IT 4
Slide 5: 6 Years of History
1 2 6 •Brasterminais Ilha •Brasterminais Ihla Barnabe barnabe • Brasterminais Aratu •Brasterminais Aratu • LAG Chile Latin America •LAG Chile •Vopak Terminales Mexico Veracruz, Altamira, Coatzacoalcos 3 4 •Vopak Brasterminais Brazil Santos (Alemoa & Ihla Barnabe), Aratu Van Ommeren- Serlipsa •Dibal
Slide 6: Vopak Logistics Latin America
Vopak Logistics Latin America (cbm) Brazil Vopak Brasterminais Alemoa 104,400 Vopak Brasterminais Aratu 62,500 Vopak Brasterminais Ilha Barnabe 47,000 Uniao Vopak - Paranagua (50%) 44,000 Colombia Colterminales - Barranquilla 21,300 Colterminales - Cartagena 8,000 Chile Vopak San Antonio 18,700 Ecua
Slide 7: Organization Structure
Division President Pieter Bakker Analyst Market Division Director Development Finance & Control Esteban Kwist Bert Vermeer Office Management / IT Diana Spieske Miami Head Office: 4 General Manager General Manager General Director General Manager Managing Director Peru Chile - Argentina Brazil Mexico
Slide 8: Brazil
1 BRAZIL Terminals: 1. Aratu (Bahia) 2. Alemoa (Santos) 3. Ilha Barbanabe (Santos) 4. Uniao Vopak (Paranagua) 50% 1 Total Capacity: 257,900 cbm 3 2 2&3 4 Industry Segments: Products: Main Customers: •Chemical & Petrochemical Ind. •Chemicals •Food Ind. •Acids •Pharmacy & Cosmetics Ind. •VegOils •Agri
Slide 9: Andean
Terminals: ANDEAN 1. Puerto Cabello - Venezuela 2. Barranquilla - Colombia 1 1 3. Cartagena - Colombia 2 4. Guayaquil - Ecuador 3 Total Capacity: 137,822 cbm 3 4 4 Industry Segments: Products: Main Customers: •Chemical & Petrochemical Ind. •Chemicals •Food Ind. •Acids •Pharmacy & Cosmetics Ind. •Veg
Slide 10: Mexico
MEXICO Industry Segments: •Chemical & Petrochemical Ind. •Food Ind. •Pharmacy & Cosmetics Ind. •Agriculture •Distributors 1 Products: 2 •Chemicals 3 •Acids •VegOils •Fats Terminals: •Molasses 1. Altamira 1 2. Veracruz Main Customers: 3. Coatzacoalcos Total Capacity: 198,600 cbm 2 3 10
Slide 11: Chile
CHILE Terminal: San Antonio Total Capacity: 18,700 cbm Industry Segments: Products: •Chemical Ind. •Chemicals •Food Ind. •VegOils •Distributors Main Customers: 11
Slide 12: Peru
PERU Terminal: Callao Total Capacity: 181,700 cbm Industry Segments: Products: Main Customers: •Oil industry •Oil Products: •Chemical & Petrochemical Ind. Diesel Gasoline Jet Fuel Kerosene LPG Plus local distributors 12
Slide 13: Latin America Market Specifics
Latin America Market Specifics • Growth economies (GDP) • All water access • Size Economies (population, • Legislation differences. demand). • Currency differences. • Increased local production and • Opportunities for higher imports. • National Oil companies lack of return (ROCE) capital for petroch
Slide 14: Vopak LA strengths
Vopak LA strengths: • Complete Geographical coverage (except for Argentina) • Range and diversity of Customer portfolio (Producers, end users, national/ multinationals, traders and distributors) • Vopak Global network and extensive knowledge & experience with all bulk liquid chemicals • No link with
Slide 15: Opportunities & Challenges
Opportunities & Challenges • The increase in GDP will create higher consumption of basic raw materials like Chemicals and VegOils. • Global customers who seek global contracts • Majors require connectivity with few operators • Terminal network offer room for terminal specialization and cost reductio
Slide 16: Vopak Latin America strategy
Vopak Latin America strategy: 2. Participate in logistics of 1. Drive profitable growth in new production facilities in existing chemical business Venezuela and Mexico. “To build and strengthen Vopak’s position in Latin America" 3. Develop business in three strategic locations 4. Develop oil busines
Slide 17: End of Presentation
= Vopak Vopak Latin America End of Presentation
Slide 18: Market position Chemicals
Market position Chemicals Chemical & Edible Oil Indep't Tank Storage Latin America Others 23% Vopak 31% Stolt 4% Oxiquim 4% Uniao de Terminais Odfjell 6% Tequimar 13% Cattalini 10% 9% 18
Slide 19: Market position Petroleum and Gas storage
Market position Petroleum and Gas storage Petroleum and Gas Storage Latin America Oxiquim 0.01% Others 0.29% Oiltanking 0.38% Other 1.00% 0.05% Tequimar Williams 0.01% 0.26% Nat + Major Oil Co. 99.00% 19
Slide 20: Unstable Currencies? Rate evolution in USD per cbm
20 USD 0.00 2.00 4.00 6.00 8.00 10.00 12.00 Jan-00 Mar-00 May-00 Jul-00 Sep-00 Nov-00 Jan-01 Mar-01 Unstable Currencies ? May-01 Jul-01 Sep-01 Nov-01 YEARS Jan-02 BRAZIL CONSOLIDATED Mar-02 May-02 Evolution of Rate in USD per Cbm Jul-02 Sep-02 Nov-02 Jan-03 Mar-03 May-03 Jul-03
Slide 21: Net rate compared to exchange rate variations
21 X Rate Variations (%) Ja 0 5 10 15 20 25 30 n- (15) (10) (5) Ap 9 7 r- 9 Ju 7 l- O 97 ct -9 Ja 7 n- 9 Ap 8 r- 9 Ju 8 l- O 98 ct -9 Ja 8 n- Ap 9 9 r- 9 Ju 9 l- O 99 ct -9 Ja 9 n- 0 Unstable Currencies ? X Rate Variation Ap 0 r- 0 Ju 0 l- O 00 Years ct -0 Ja 0 n- Ap 0 1 r- 0 Ju 1 l- O 01 ct -0 Ja 1
Slide 22: Latin America Potential and Growth
Latin America Potential and Growth 02 GDP 02 GDP 02 Real GDP per capita Population % Change USD billion USD million 2002 2003E 2004F Argentina 103.0 2,718 37.9 -10.9 5.5 3.8 Brazil 448.7 2,563 175.1 1.5 1.6 3.1 Chile 66.4 4,256 15.6 2.1 3.4 4.3 Colombia 71.2 1,626 43.8 1.7 2.2 3.1 Ecuador 24.5 1,869
Slide 23: Latin America compared to other areas
Latin America compared to other areas 02 GDP 02 GDP 02 Real GDP per capita Population % Change USD billion USD m illion 2002 2003E 2004F United States 10,446 36,210 288.5 2.4 2.2 3.6 Japan 3,992 31,343 127.4 0.1 0.9 0.6 Germany 1,990 24,128 82.5 0.2 0.1 1.5 United Kingdom 1,557 26,286 59.2 1.9 1.8 2