Kawasaki Kisen Kaisha, Ltd. · TSE:9107

Kawasaki Kisen Kaisha — Q2 FY2013 Earnings Presentation

34 slides from Kawasaki Kisen Kaisha's earnings presentation, October 2013

  1. Slide 1: Supplementary Report - 2nd Quarter FY2013

    Supplementary Report - 2nd Quarter FY2013 - October 2013 Kawasaki Kisen Kaisha, Ltd.

  2. Slide 2: Shipping Markets, Financial Data, Historical Data

    1. Shipping Markets 2. Financial Data 3. Historical Data - For 5 Years -

  3. Slide 3: Supplementary Information 1 - Shipping Markets

    Supplementary Information -1 - Shipping Markets-

  4. Slide 4: 1-1. K Line Container Loading Volume

    1-1. “K” Line Container Loading Volume 3

  5. Slide 5: 1-2. Line/Alliance wise Vessel/Capacity Comparison

    1-2. Line/Alliance wise Vessel/Capacity Comparison Top 30 Container Carriers ranked by operating capacity as of October 2013 TOTAL Rank Operator TEU 1 APM-Maersk 2,608,470 2 Mediterranean Shg Co 2,373,983 3 CMA CGM Group 1,502,501 4 Evergreen Line 817,848 5 COSCO Container L. 788,375 APM-Maersk 6 Ha

  6. Slide 6: 1-3. K Line Container Volume & Share (Asia to North America)

    1-3. “K” Line Container Volume & Share (Asia to North America ’03-’13) TPS EB KL Results 500,000 7.0% 450,000 6.0% 400,000 350,000 5.0% 300,000 4.0% Share TEU 250,000 3.0% 200,000 150,000 2.0% 100,000 1.0% 50,000 0 0.0% 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008

  7. Slide 7: 1-4. K Line Container Volume & Share (North America to Asia)

    1-4. “K” Line Container Volume & Share (North America to Asia ’03-’13 ) TPS WB KL Results 250,000 7.0% 6.0% 200,000 5.0% 150,000 4.0% Share TEU 3.0% 100,000 2.0% 50,000 1.0% 0 0.0% 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012

  8. Slide 8: 1-5. K Line Container Volume & Share (Asia to Europe)

    1-5. “K” Line Container Volume & Share (Asia (ex.India) to Europe ’03-’13, ) 7

  9. Slide 9: 1-6. K Line Container Volume & Share (Europe to Asia)

    1-6. “K” Line Container Volume & Share (Europe to Asia (ex.India) ’03-’13 ) 8

  10. Slide 10: 1-7. Trend of Average Container Freight/Volume

    1-7. Trend of Average Container Freight/Volume (“K” Line All Trades) （2004F-2013F2Q） Volume (1000 Average Freight($) TEU) 1000 1,600 1,403 1,440 1,337 1,323 1,349 1,301 1,299 1,315 900 865 1,283 1,315 871 1,242 859 1,249 1,220 825 1,012 1,283 846 1240 1,400 804 763 810 1,235 833 793 768 811 1,262 1,

  11. Slide 11: 1-8. Dry Bulk Market

    1-8. Dry Bulk Market Dry Bulk Market (BDI) 10

  12. Slide 12: 1-9. Tanker Market

    1-9. Tanker Market Tanker Market (VLCC AG/JPN) 11

  13. Slide 13: 1-10. Cars/Trucks Transported by K Line PCTC Fleet

    1-10. Transition of Cars / Trucks Transported by “K” Line PCTC Fleet 10,000units 100 90 91 86 86 84 84 78 81 81 78 73 76 80 75 71 66 63 60 45 39 40 20 0 1Q 2Q 3Q 4Q 1Ｑ 2Q 3Q 4Q 1Q 2Ｑ 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2009F 2010F 2011F 2012F 2013F Japan・FE/North America Japan・FE/Europe Japan・FE/The Other Area

  14. Slide 14: 1-11. K Line Vessel Fleet Composition

    1-11. “K” Line Vessel Fleet Composition Heavy Lifters 2013 March 16 ships 2013 Sept 16 ships Offshore Energy E&P Support Ships 2013 March 8 ships 2013 Sept 8 ships Note: The number of Energy Resource Transportation includes 23 vessels owned by SPC of the projects ( 23 LNG Carriers). : The number of

  15. Slide 15: 1-12. K Line Container Vessel Fleet Composition

    1-12. “K” Line Container Vessel Fleet Composition 2013 Mar 2013 Sept K 13 13 8,000TEU K 18 18 5,500TEU K 26 26 3,500TEU（3,400-4,700） K 2,800TEU(2,700-2,900) 2 2 K 2,000TEU（1,500-2,500） 13 13 K 1,400TEU or under 3 3 300m 200m 100m 0m Total 75 75 14

  16. Slide 16: 1-13. K Line Bulk Carrier Fleet Composition

    1-13. “K” Line Bulk Carrier Fleet Composition Total 252 Total 262 260 Chip + Pulp 12 Chip + Pulp 13 240 Small Handy 21 Small Handy 22 220 200 Handymax 50 Handymax 50 180 160 Panamax 52 Panamax 42 140 120 Over Panamax 26 Over Panamax 30 100 80 60 Capesize 99 Capesize 97 40 20 0 2013 Mar 2013 Sept 15

  17. Slide 17: 1-14. K Line PCTC Vessel Fleet Composition

    1-14. “K” Line PCTC Vessel Fleet Composition 16

  18. Slide 18: 1-15. Energy Resource Transportation, Offshore Support & Heavy Lifter Fleet

    1-15. “K” Line Energy Resource Transportation, Offshore Energy E&P Support & Heavy Lifter Fleet Composition 100 Total 91 Total 92 Drillship 90 2013 Mar 1 Heavy Lifters16 Heavy Lifters16 2013 Sept 1 80 Offshore Support Vessel 7 Offshore Support Vessel 7 70 LPG Carrier 5 LPG Carrier 5 CHEMICAL Tanker

  19. Slide 19: 1-16. Fleet Upgrading Plan

    1-16. Fleet Upgrading Plan 2013F 2014F 2015F 2016F <Fleet Upgrading Plan> Already To be delivered To be To be To be delivered by 2Q delivered delivered delivered No. of vessels to be received FY2013-2016 Containership 0 () 1 4 0 14000TEU 1 4 Dry Bulkers 23 (9) 8 10 1 FY2013 : 30 newbuildings to be d

  20. Slide 20: 1-17. K Line Group Composition of Fleet

    1-17. “K” Line Group Composition of Fleet Sept 2013 Mar 2013 Owned Chartered Total Total Type of Vessel No. DWT(MT) No. DWT(MT) No. DWT(MT) No. DWT(MT) Contianerships 10 668,214 65 3,797,288 75 4,465,502 75 4,465,732 Dry Bulk Carriers 71 7,732,024 191 21,128,320 262 28,860,344 252 28,101,549 Car Car

  21. Slide 21: Supplementary Information 2 - Financial Data

    Supplementary Information-2 - Financial Data -

  22. Slide 22: 2-1. Transition of Operating Revenues

    2-1. Transition of Operating Revenues 21

  23. Slide 23: 2-2. Breakdown on Non-Operating, Extra-Ordinary Items

    2-2. Breakdown on Non-Operating, Extra-Ordinary Items (2013FY 2Q) 1.Non-operating Income/Loss （Billion yen） 13FY 1Q 13FY 2Q 1H Accumulated Consolidated Total 3.6 ▲ 3.3 0.3 Financial Gain/Loss ▲ 1.5 ▲ 2.2 ▲ 3.6 Equity in Earnings of Affiliated Companies 0.7 0.8 1.5 Exchange Gain/Loss 3.8 ▲ 1.7 2.0 Ot

  24. Slide 24: Supplemental Information 3 - Historical Data - For 5 Years

    Supplemental Information -3 Historical Data - For 5 Years -

  25. Slide 25: 3-1. Consolidated Revenues & Incomes

    3-1. Consolidated Revenues & Incomes Consolidated Revenues & Incomes （billion yen） （billion yen） 1,400 80 1,200 60 40 1,000 20 800 0 600 08F 09F 10F 11F 12F ▲ 20 400 ▲ 40 200 ▲ 60 0 ▲ 80 Operating Revenues Operating Income Ordinary Income Net Income 24

  26. Slide 26: 3-2. Consolidated Total Assets/Shareholders' Equity

    3-2. Consolidated Total Assets/Shareholders’ Equity Consolidated Total Assets/Shareholders’ Equity （billion yen） （multiple） 1,400 4.50 4.00 1,200 3.50 1,000 3.00 800 2.50 600 2.00 1.50 400 1.00 200 0.50 0 0.00 08F 09F 10F 11F 12F Total Assets Shareholders Equity DER（Market Price Base） 25

  27. Slide 27: 3-3. Consolidated ROE / ROA

    3-3. Consolidated ROE / ROA （billion yen） 80 Consolidated ROE / ROA 15% 60 10% 40 5% 20 0% 0 -5% 08F 09F 10F 11F 12F -20 -10% -40 -15% -60 -20% -80 -25% Net Income（billion yen） Ordinary Income ROE ROA 26

  28. Slide 28: 3-4. Consolidated EV/EBITDA

    3-4. Consolidated EV/EBITDA EV/EBITDA （billion yen） （multiple） 120 80 100 70 60 80 50 60 40 40 30 20 20 10 0 08F 09F 10F 11F 12F 0 ▲ 20 ▲ 10 ▲ 40 ▲ 20 ▲ 60 ▲ 30 EBITDA EV/EBITDA 27

  29. Slide 29: 3-5. Consolidated Assets Turnover

    3-5. Consolidated Assets Turnover Consolidated Assets Turnover （billion yen） 1,400 1.40 1,200 1.20 1,000 1.00 800 0.80 600 0.60 400 0.40 200 0.20 0 0.00 08F 09F 10F 11F 12F Operating Revenues Consolidated Assets Turnover 28

  30. Slide 30: 3-6. Ordinary Income on Revenues / Total Assets

    3-6. Consolidated Ordinary Income on Revenues / Ordinary Income on Total Assets Consolidated Ordinary Income on Revenues （billion yen） / Ordinary Income on Total Assets 80 8% 60 6% 40 4% 2% 20 0% 0 08F 09F 10F 11F 12F -2% ▲ 20 -4% ▲ 40 -6% ▲ 60 -8% ▲ 80 -10% Ordinary Income Consolidated Ordinary Inc

  31. Slide 31: 3-7. Consolidated Interest Coverage Ratio

    3-7. Consolidated Interest Coverage Ratio Consolidated Interest Coverage Ratio （billion yen） (multiple) 80 14 12 60 10 40 8 6 20 4 0 2 08F 09F 10F 11F 12F 0 ▲ 20 -2 -4 ▲ 40 -6 ▲ 60 Operating Income -8 Interest Coerage Ratio 30

  32. Slide 32: 3-8. Consolidated Net Income / Operating Cash Flow

    3-8. Consolidated Net Income / Operating Cash Flow Consolidated Net Income / Operating Cash Flow （billion yen） 100 80 60 40 20 0 08F 09F 10F 11F 12F ▲ 20 ▲ 40 ▲ 60 ▲ 80 Net Income Operating Cash Flow 31

  33. Slide 33: 3-9. Consolidated Segment Information

    3-9. Consolidated Segment Information （Unit: million yen） （Unit: million yen） 08F 09F 10F 11F Operating Revenues Operating Revenues Marine Transportation 1,110,475 729,683 Containership Business 444,971 395,460 Freight Forwarting / 108,874 87,918 Bulk Shipping Business 447,111 463,507 Harbor Transpo

  34. Slide 34: 3-10. Non-Consolidated Financial Data

    3-10. Non-Consolidated Financial Data （Unit: million yen） 08F 09F 10F 11F 12F Operating Revenues 960,109 631,747 772,321 737,994 834,218 Container 497,388 332,649 419,248 373,938 434,172 Bulk Carrier & Car Carrier 414,964 254,442 305,522 323,664 364,860 Energy Transportation 45,766 42,332 44,825 38,

Kawasaki Kisen Kaisha — Q2 FY2013 Earnings Presentation on 6ix