Irish Continental Group Plc · EURONEXT:IR5B
Irish Continental — H1 2016 Earnings Presentation
32 slides from Irish Continental's earnings presentation, Aug 31, 2016
Slide 1: 2016 Half Year Results Presentation
2016 Half Year Results Presentation 31st August 2016
Slide 2: Half Year 2016 Performance Summary
Half Year 2016 Performance Summary Revenue EBITDA Net Debt Adjusted EPS €150.5 m €30.5 m €18.9 m 10.3 c +5.2% +19.6% -57.3% +30.4% • Revenue for the first half of the year grew by 5.2% to €150.5 million (2015: €143.1 million). In the Ferries division revenue* increased by 5.8% to €91.5 million (2015
Slide 3: ICG Business Units
ICG Business Units Ferries Division Container & Terminal Division Irish Ferries, the leading ferry company operating Eucon, the leading container shipping operator between the UK/Continent and the Republic of between Ireland and the Continent. Dublin Ireland. The division is also engaged in ship Fer
Slide 4: Ferries Division
Ferries Division 2016 Half Year Results Presentation 4 (31st August 2016)
Slide 5: Ferries Division - Routes
Ferries Division - Routes Weekly Sailings Dublin - Holyhead Ulysses 28 Jonathan Swift 28 Epsilon 18 74 Rosslare - Pembroke Isle of Inishmore 28 Total Ireland - UK 102 Ireland - France Oscar Wilde 7 Epsilon 2 9 Total 111 2016 Half Year Results Presentation 5 (31st August 2016)
Slide 6: Ferries Division
Ferries Division France 400 sailings 8% • Brand: Irish Ferries Pembroke • 4 Conventional combined 1,400 sailings Car/RoRo ferries 27% • 1 fast car carrying ferry Holyhead • 1 ferry on charter to Kiwi Rail 3,400 sailings (New Zealand) to June 2020 65% • 4 container ships on charter • 1 fast craft on
Slide 7: Ferries Division
Ferries Division Revenue 2015 (Exclusive of Chartering activities) Costs 2015 (Exclusive of Chartering activities) Other 16% Payroll 26% Freight Depreciation 39% Cars & 9% Passengers 61% Repairs/Insurance 6% Port Costs Fuel 24% 19% 2016 Half Year Results Presentation 7 (31st August 2016)
Slide 8: Ferries Division - Car Market
Ferries Division - Car Market CAGR (Volumes) YTD July/ H1 1 Year 3 Year 7 Year 15 Years 2016 August 2016 2015 2012 – 2008 – 1992 - 2015 2015 2007 Irish Ferries +4% +2% +5% +5% +5% +1% +4% Republic of 0% +1% +1% -1% +2% Ireland All Ireland +1% 0% +1% -1% +2% 2016 Half Year Results Presentation 8 (31s
Slide 9: Ferries Division - RoRo Market
Ferries Division - RoRo Market CAGR (Volumes) YTD July/ H1 1 Year 3 Year 7 Year 15 Years 2016 August 2016 2015 2012 – 2008 – 1992 - 2015 2015 2007 Irish Ferries +5% +4% +6% +10% +14% +2% +12% Republic of +7% +6% +6% 0% +10% Ireland All Ireland +6% +4% +3% 0% +6% 2016 Half Year Results Presentation 9
Slide 10: Ferries Division - Ship Chartering activities
Ferries Division -Ship Chartering activities • Revenue from ship chartering activities amounted to €6.5 million at 30 June 2016 (including €3.2m inter-segment revenue) and €1.9 million at 30 June 2015 (€nil inter-segment revenue). • The ’Kaitaki’ (22,365 GT) delivered in 1995 which has a capacity of
Slide 11: New Cruise Ferry ordered by ICG from Flensburger for delivery first half 2018
New Cruise Ferry ordered by ICG from Flensburger (FSG) for delivery first half 2018 Cruise Ferry Details Cost €144 million (excl Scrubber) Deck Capacity (Maximum) 165 Trucks or 1,216 Cars Deck Capacity (Mix) 165 Trucks and 300 Cars Passenger/Crew Capacity 1,885 Passenger Cabins 435 Engine output (4
Slide 12: Ferries Division
Ferries Division H1 H1 Change FY 2016 2015 2015 €m €m €m Revenue* 91.5 86.5 +5.8% 203.9 Operating Costs (67.6) (66.5) +1.7% (140.2) EBITDA 23.9 20.0 +19.5% 63.7 Depreciation/Amortisation (8.5) (7.7) +10.4% (15.6) Operating Profit 15.4 12.3 +25.2% 48.1 • Passenger, Car & On Board revenue up 0.4% to €
Slide 13: Container & Terminal Division
Container & Terminal Division 2016 Half Year Results Presentation 13 (31st August 2016)
Slide 14: Container & Terminal Division
Container & Terminal Division • 5 chartered vessels • 3,200 owned and leased containers, 6,200 teu (20ft, 40ft, 45ft, reefers, flats, curtain siders) • Operating between the Ports of Dublin, Cork and Belfast to Rotterdam and Antwerp • Door to Door (54%) Transport plus Quay to Quay (46%) (feeder) • D
Slide 15: Container & Terminal Division
Container & Terminal Division 2016 Half Year Results Presentation 15 (31st August 2016)
Slide 16: Container & Terminal Division - Terminals
Container & Terminal Division - Terminals 2 strategically located container handling terminals at Dublin (DFT) and Belfast (BCT). • 150 year lease in Dublin from 1972 • Concession from Belfast Harbour • Annual throughput of 162,000 lifts Commissioners (BHC) for 5 years from (2014: 151,900 lifts) Jun
Slide 17: Container & Terminal Division - Container Handling Irl.
Container & Terminal Division - Container Handling Irl. CAGR (Volumes) H1 1 Year 3 Year 5 Year 2016 ICG 40% 33% 10% 8% ICG (Excl. 5% 7% 5% 5% Belfast) All Ireland 6% 8% 6% 2% (Estimate) 2016 Half Year Results Presentation (31st August 2016) 17
Slide 18: Container & Terminal Division
Container & Terminal Division H1 H1 Change FY 2016 2015 2015 €m €m €m Revenue* 62.8 57.2 +9.8% 118.2 Operating Costs (56.2) (51.7) +8.7% (106.4) EBITDA 6.6 5.5 +20.0% 11.8 Depreciation/Amortisation (1.2) (1.4) -14.3% (2.7) Operating Profit 5.4 4.1 +31.7% 9.1 • Container volumes up 7.4% at 152,700 te
Slide 19: Group
Group • Results • Fuel Costs • Cashflow • Dividends/Share Buybacks • Outlook/Current Trading 2016 Half Year Results Presentation 19 (30th August 2016)
Slide 20: Group - Results
Group - Results H1 2016 H1 2015 Change FY 2015 Revenue €150.5m €143.1m +5.2% €320.6m Operating Costs €120.0m €117.6m +2.0% €245.1m (exc. Dep) EBITDA €30.5m €25.5m +19.6% €75.5m Operating Profit €20.8m €16.4m +26.8% €57.2m Basic EPS 10.3c 7.8c +32.1% 28.9c Adjusted EPS 10.3c 7.9c +30.4% 29.1c Dividen
Slide 21: Group - Fuel Costs
Group - Fuel Costs H1 2016 H1 2015 Change FY 2015 Consumption (000 tons) Heavy Fuel Oil 33.2 33.2 - 69.2 Marine Diesel 19.7 18.7 +5.3% 38.5 52.9 51.9 +1.9% 107.7 Average Price (€ per ton) Heavy Fuel Oil €192 €318 -39.6% €288 Marine Diesel €333 €516 -35.5% €468 Brent Crude (guide) $41.06/€36.74 $59.4
Slide 22: Group - Cash Flow
Group - Cash Flow H1 2016 H1 2015 FY 2015 EBITDA 30.5 25.5 75.5 Working capital movement 27.0 22.7 (1.6) Pension payments in excess of service costs (1.1) (1.4) (2.7) Other 0.1 0.1 0.6 Cash generated from operations 56.5 46.9 71.8 Interest paid (1.2) (1.4) (2.8) Tax paid (0.2) (0.3) (0.8) Capex (Inc
Slide 23: Group - Dividend / Share Buybacks
Group - Dividend / Share Buybacks Cash Returned to Shareholders 2007 - 2016 Year Interim (Cent) Final (Cent) Total (Cent) €m Buyback/ Tender Offer €m 2007 Nil 10.0c 10.0c 24.5 2008 Nil 10.0c 10.0c 24.6 2009 Nil 10.0c 10.0c 25.0 2010 Nil 10.0c 10.0c 25.1 2011 3.3c 6.7c 10.0c 24.9 4.0 2012 3.3c 6.7c 1
Slide 24: Group - Current Trading
Group - Current Trading General • Irish economy continues to grow (ESRI GDP forecast 4.6% for 2016 and 4.2% in 2017). • UK GDP growth forecast at 1.7% in 2016. Eurozone GDP growth forecast 1.7% in 2016. (Both OECD June 2016) • Irish unemployment forecast to fall to 7.6% by the end of 2016, down from
Slide 25: Appendix Fleet
Appendix Fleet 2016 Half Year Results Presentation 25 (30th August 2016)
Slide 26: Appendix – Fleet
Appendix – Fleet Ulysses Year Built 2001 Cost €106m GT 50,900 tons PAX 1875 Cars 1342 Lane Meters 4.1km Speed 22 knots Route Dublin/Holyhead Isle of Inishmore Year Built 1997 Cost €81m GT 34,000 tons PAX 2200 Cars 855 Lane Meters 2.1km Speed 21.5 knots Route Rosslare/Pembroke 2016 Half Year Results
Slide 27: Appendix – Fleet
Appendix – Fleet Jonathan Swift Year Built 1999 Cost €38m GT 6,000 tons PAX 800 Cars 200 Speed 39 knots Route Dublin/Holyhead Oscar Wilde Year Built 1987 Purchased in 2007 - plus upgrade €51m GT 32,000 tons PAX 1458 Beds 1376 Cars 580 Lane Meters 1.2km Speed 21.5 knots Route Rosslare/France 2016 Hal
Slide 28: Appendix – Fleet
Appendix – Fleet Epsilon Year Built 2011 GT 26,375 tons PAX 500 Beds 272 Lane Meters 2.8km Speed 23 knots Route Dublin/Holyhead, Dublin/France Kaitaki Year Built 1995 Cost €62m GT 22,300 tons PAX 1650 Beds 274 Cars 600 Lane Meters 1.7km Speed 19 knots Route Chartered Out 2016 Half Year Results Prese
Slide 29: Appendix – Fleet
Appendix – Fleet Westpac Express Year Built 2001 Cost $13.25m GT 8,400 tons PAX 900 Cars 251 Speed 35 knots Route Chartered Out New Build Delivery Early 2018 Cost (excl Scrubber) €144m GT 50,000 tons PAX 1,885 Beds 1,885 Cars (Max) 1,216 Lane Meters (excl Car Deck) 2.8km Speed 22.5 knots 2016 Half Y
Slide 30: Appendix – Fleet
Appendix – Fleet Ranger IMO 9322542 Built 2005 LOA 140.59 Breadth 21.8 GT 7,852 Dead Weight 9,300 Size TEU 803 TEU @ 14tns 518 Elbfeeder IMO 9388522 Built 2008 LOA 139.60 Breadth 22 GT 8,246 Dead Weight 11,157 Size TEU 974 TEU @ 14tns 580 2016 Half Year Results Presentation 30 (31st August 2016)
Slide 31: Appendix – Fleet
Appendix – Fleet Elbtrader IMO 9388534 Built 2008 LOA 139.60 Breadth 22 GT 8,246 Dead Weight 11,153 Size TEU 974 TEU @ 14tns 580 Elbcarrier IMO 9388510 Built 2007 LOA 139.60 Breadth 22 GT 8,246 Dead Weight 11,166 Size TEU 974 TEU @ 14tns 580 2016 Half Year Results Presentation 31 (31st August 2016)
Slide 32: Disclaimer
Disclaimer This presentation contains confidential information including price-sensitive information the use of which may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and you undertake not to use any such information for a
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