International Container Terminal Services, Inc. · PSE:ICT
International Container Terminal Services — Q2 2017 Earnings Presentation
23 slides from International Container Terminal Services's earnings presentation, Aug 8, 2017
Slide 1: 2Q 2017 Investor Briefing Presentation
2Q 2017 INVESTOR BRIEFING PRESENTATION August 8, 2017
Slide 2: Agenda
AGENDA Recent Financial 1 Performance Liquidity and Capital 2 Resources 3 Other Matters Questions and 4 Answers
Slide 3: Volume
Volume Recent Financial Performance Liquidity and Capital Resources Other Matters Questions and Answers (in TEU) First Half Second Quarter 3,888,130 4,264,633 4,545,405 1,905,357 2,210,994 2,272,758 3% 16% 274,026 357,643 12% 16% 216,057 11% 7% 764,623 718,502 35% 32% 684,752 10% 36% 694,925 532,408
Slide 4: Revenues
Revenues Recent Financial Performance Liquidity and Capital Resources Other Matters Questions and Answers (in US$ ‘000) First Half Second Quarter 552,107 550,814 603,716 256,045 284,345 306,511 8% 11% 36,505 58,318 13% 19% 24,837 10% 96,699 102,947 95,691 34% 34% 10% 37% -0.2% 109,886 51,755 18% 135
Slide 5: Consolidated P&L Highlights (1H)
Consolidated P&L Highlights Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers (in US$ ‘000, except Volume & EPS) 1H 2016 1H 2017 % change Volume up 7% due to improving global trade particularly in the emerging Volume (in TEU) 4,264,633 4,545,405 7% mark
Slide 6: Consolidated P&L Highlights (2Q)
Consolidated P&L Highlights Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers (in US$ ‘000, except Volume & EPS) 2Q 2016 2Q 2017 % change Volume up 3% due to improving global trade particularly in the emerging Volume (in TEU) 2,210,994 2,272,758 3% mark
Slide 7: Recurring Net Income
Recurring Net Income Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers (in US$ ‘000) 1H 2016 1H 2017 % change 2Q 2016 2Q 2017 % change Net Income Attributable 19% 15% 87,283 103,636 45,107 51,896 to Equity Holders Non-recurring item: Gain on the termina
Slide 8: Financing Charges & Other Expenses
Financing Charges & Other Expenses Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers (in US$ ‘000s) 1H 2016 1H 2017 % change Financing charges & other expenses 45,883 59,046 29% Interest Expense on Loans/Bonds 45,469 53,245 17% Higher interest expense d
Slide 9: Historical Volume, Revenue & EBITDA
Historical Volume, Revenue & EBITDA CURRENCY RISK ANALYSIS Recent Financial Performance Liquidity and Capital Resources Other Matters Questions and Answers 400 2,500 350 Volume (in TEU thousands) 307 2,000 296 293 297 300 282 284 284 269 266 (in USD millions) 261 256 259 249 250 240 1,500 200 147 14
Slide 10: 1H 2017 Revenue Profile by Currency
1H 2017 Revenue Profile by Currency Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers Revenue Currency by Subsidiary Revenue Breakdown by Currency Subsidiaries USD EUR Local Currency MICT 44% 56% PHP PTMTS 100% IDR YICT 100% RMB OJA 64% 36% IDR Others P
Slide 11: 1H 2017 Cash Expense Profile by Currency
1H 2017 Cash Expense Profile by Currency Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers Cash Expense Currency by Subsidiary Expense Breakdown by Currency Subsidiaries USD EUR Local Currency MICT 35% 65% PHP PTMTS 100% IDR YICT 100% RMB OJA 16% 84% ID
Slide 12: FX Movement since January 2015
FX Movement since January 2015 Recent Financial Performance Liquidity and Capital Resources Other Matters Questions and Answers 90 100 110 120 130 January-June 140 Currency Ave 2016 Ave 2017 Growth (%) BRL 3.70 3.18 13.94 PKR 104.71 104.81 (0.09) 150 EUR 0.90 0.92 (3.10) RMB 6.54 6.87 (5.16) PHP 46.
Slide 13: EBITDA Margin Evolution
EBITDA Margin Evolution Recent Financial Performance Liquidity and Capital Resources Other Matters Questions and Answers 50% 0.1% 49% 1.3% 48% 2.7% 47% 46% 48.0% 46.5% 45% 44% EBITDA % Organic Forex New Terminals EBITDA % YTD Dec 2016 June 2017 13
Slide 14: 2017 Yield/TEU Comparison
2017 Yield/TEU Comparison Recent Financial Performance Liquidity and Capital Resources Other Matters Questions and Answers 2Q 2016 2Q 2017 % Change 1H 2016 1H 2017 % Change 2,211 2,273 3% Volume (TEU ‘000) 4,265 4,545 7% 284 307 8% Revenues (US$ million) 551 604 10% 129 135 5% Yield/TEU (US$) 129 13
Slide 15: Yield/TEU Evolution
Yield/TEU Evolution Recent Financial Performance Liquidity and Capital Resources Other Matters Questions and Answers 136 134 1.9 1.6 132 2.6 130 128 126 132.8 129.9 124 122 120 Yield/TEU New Terminals Organic Forex Yield/TEU Dec 2016 June 2017 15
Slide 16: Agenda
AGENDA Recent Financial 1 Performance Liquidity and 2 Capital Resources 3 Other Matters Questions and 4 Answers
Slide 17: Balance Sheet Summary
Balance Sheet Summary Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers (in US$ millions) 2015 2016 1H2017 Intangible and Property and equipment 2,864 3,102 3,142 Cash and cash equivalents 354 325 263 Other current and noncurrent assets 613 755 751 Tota
Slide 18: Principal Redemption Profile
Principal Redemption Profile Recent Financial Performance Liquidity and Capital Resources Other Matters Questions and Answers (in US$ million) Capital structure is well positioned to match the long-term nature of port concession contracts. LME3 in October 2016 as of June 30, 2017 600 600 LME 500 500
Slide 19: Capital Expenditures
Capital Expenditures Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers 2016A 2017B US$25M (7%) US$30M (8%) US$30M (13%) US$354M US$135M US$299M (56%) (84%) US$240M US$75M (31%) US$41M US$25M Greenfield Expansionary Maintenance Investment (SPIA) 2016 CAP
Slide 20: Agenda
AGENDA Recent Financial 1 Performance Liquidity and Capital 2 Resources 3 Others Matters Questions and 4 Answers
Slide 21: Recent Events
Recent Events Recent Liquidity Questions Financial and Capital Other and Performance Resources Matters Answers 2017 May Lekki International Container Terminal Services LFTZ Enterprise and Lekki Port LFTZ Enterprise have mutually agreed to terminate their Sub-concession Agreement effective May 24, 20
Slide 22: Agenda
AGENDA Recent Financial 1 Performance Liquidity and Capital 2 Resources 3 Other Matters Questions and 4 Answers
Slide 23: 2Q 2017 Investor Briefing Presentation
2Q 2017 INVESTOR BRIEFING PRESENTATION
International Container Terminal Services — Q2 2017 Earnings Presentation on 6ix