Slide 1: EXMAR General Assembly 15th May 2018
EXMAR GENERAL ASSEMBLY 15th May 2018
Slide 2: Disclaimer
DISCLAIMER About this presentation “This presentation (the “Presentation”) has been produced by EXMAR NV (“EXMAR” or the “Company”). By attending a meeting where this Presentation is presented, or by reading the Presentation slides, the reader or the recipient, as the case may be, (the “Recipient”)
Slide 3: Executive Summary
> EXECUTIVE SUMMARY 3
Slide 4: Executive Summary: Rough Seas Make Good Sailors
EXECUTIVE SUMMARY ROUGH SEAS MAKE GOOD SAILORS LPG fleet performing despite challenging market conditions thanks to solid contract portfolio with 1st class LPG customers and smooth operations. Long-term charter agreement secured for two LPG fuelled 80,200 m³ newbuild gas carriers with Statoil to
Slide 5: Exmar at a glance
Exmar at a glance Key metrics (proportional consolidation) Fleet list (owned vessels) at May 2018 Market capitalization: EUR ~340m Revenue (2017): USD 228m EBITDA (2017): USD 141.4m (*) 4 Total assets (2017): USD 1,244.8m Equity ratio (2017): 38.4% 2 Net Debt / EBITDA (2017): 3.9x 1 Em
Slide 6: EXMAR LPG: Innovation and Partnership
EXMAR LPG: Innovation and Partnership
Slide 7: Exmar LPG shipping
Exmar LPG shipping Business approach Key Financials1) Clients Niche position in LPG, ammonia LPG (USDm) 2015 2016 2017 and chemical gases transportation Turnover 124.5 109.4 97.0 EBITDA 51.3 56 31.8 Focus on midsize carriers (MGC), *REBITDA 51.4 41.7 31.7 VLGCs and Pressurized EBIT 17.8 34.2 4.6
Slide 8: Highlights and Outlook
Highlights and Outlook Midsize fleet • Increased vessel supply since 2016 has caused significant downward corrections in the MGC segment with short term Time-Charter and voyage-charter rates sliding further down averaging USD 450,000 per calendar month. • Delivery of two additional newbuild ships of
Slide 9: Creating value through the LNG value Chain
Creating value through the LNG value Chain
Slide 10: Exmar LNG Shipping & LNG Infrastructure
Exmar LNG Shipping & LNG Infrastructure Business approach Key Financials1) Clients LNG (USDm) 2015 2016 2017 Customized service with significant Turnover 88.7 91.5 68.0 added value EBITDA 39.4 59.4 87.6 Investments with a long-term time- *REBITDA 53.1 50.4 17.6 charter contract on the FSRU barge
Slide 11: Highlights and Outlook 2018
Highlights and Outlook 2018 Monetisation of LNG portfolio • Sale 50% of EXCEL in October 2017 • FRSU’s EXCELERATE (138,000 m³- 2006 built), EXPLORER (150,900 m³- 2008 built), EXPRESS (150,900 m³ - 2009 built) and EXCELSIOR (138,000 m³- 2005 built) operated under long-term charter were acquired by Ex
Slide 12: Oil Price and FLNG Correlations
Oil Price and FLNG Correlations Final Signature of negotiations CFLNG with several Contract counterparts Start of FLNG ambitions Termination of CFLNG Contract Historical price of dated Brent in USD/bbl over last 10 years 12
Slide 13: EXMAR Offshore: Unlocking Untapped Values
EXMAR Offshore: Unlocking Untapped Values
Slide 14: EXMAR Offshore
EXMAR Offshore Business approach Key Financials1) Clients Provides engineering and design Offshore (USDm) 2015 2016 2017 Turnover 74.5 52.4 33.2 services, asset leasing and operating EBITDA 8.6 -0.8 (5.6) and management services REBITDA* 10.3 -1.7 (7.2) Cost effective approach with EBIT 4.4 -3.6
Slide 15: Highlights and Outlook
Highlights and Outlook Accommodation Barges • The accommodation barge NUNCE (350 persons – 2009 built) remains on charter until 2022. • The Time-Charter on the WARIBOKO (300 persons – 2010 built) has been extended until September 2018. • Outlook for 2019 is positive with new fields entering producti
Slide 16: Supporting Services: the Power of Innovation
Supporting Services: the Power of Innovation
Slide 17: Exmar's Supporting Services
Exmar’s Supporting Services Key Financials1) EXMAR Shipmanagement Travel Plus Supporting Services 2015 2016 2017 Specialized in quality ship Service-oriented travel agency Turnover 49.2 46.3 46.2 management & related services based in Antwerp specialized in EBITDA 0.1 1.9 27.7 to asset owners bo
Slide 18: Highlights and Outlook
Highlights and Outlook Supporting Services • EXMAR Shipmanagement has currently 84 vessels under management (compared to 46 in 2016) focusing on niche markets • Sale of BELGIBO to long-term business partner Jardine Lloyd Thomson Group plc (JLT), generating a capital gain of USD 26.7 million and cash
Slide 19: Financial Overview
> Financial Overview
Slide 20: Financial Highlights & Outlook 2018
Financial Highlights & Outlook 2018 (In USD millions unless otherwise Comments stated) 2016 2017 Q1/2018 LPG: EXMAR continues to secure employment on its MGC fleet but at lower rates than 2017. The fleet cover is 71% for 2018. Operating Income 305.9 328,6 46.6 VLGC market fundamentals still in
Slide 21: Thank you for your attention
Thank you for your attention 21