Natural Resource Partners Lp Limited Partnership · NYSE:NRP
Natural Resource Partners Lp Limited Partnership — Natural Resource Partners — 2018 Seaport Global Coal Conference
14 slides from Natural Resource Partners Lp Limited Partnership's conference presentation, Aug 16, 2018
Slide 1: 2018 Seaport Global Coal Conference
NATURAL RESOURCE PARTNERS L.P. 2018 SEAPORT GLOBAL COAL CONFERENCE August 16, 2018
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS The statements included in this presentation or contained in this presentation that are not historical facts are forward-looking statements. The forecasts and other forward-looking statements contained herein are based on certain assumptions made by NRP based on its experi
Slide 3: Overview
OVERVIEW NRP is a natural resource company with interests in coal, soda ash and construction aggregates • Coal Royalty owner, not a coal mine operator – Free of direct costs to mine and sell coal and other associated mining liabilities – Fixed royalty rates supported by minimum payments that kick-in
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS Business Segment Overview Last Twelve Months Ending 6/30/18 (in thousands) Business Segment Net Income EBITDA DCF FCF ROCE Coal Royalty $159,099 $181,203 $183,296 $182,202 17% Soda Ash* 35,246 49,000 49,000 49,000 14% Construction Aggregates 6,297 18,575 3,100 578 4% Corporate a
Slide 5: Strategy
STRATEGY • Stay the course • Continue to de-lever and de-risk capital structure • Achieve goal of leverage ratio less than 3.0x, currently 3.5x • Maintain liquidity of $100 million Leverage Ratio 5.3X 5.0x 3.5X 4.0x 3.0x 2.0x 1.0x 0.0x Q4'15 Q4'16 Q4'17 Leverage Ratio Goal 5
Slide 6: Q&A
Q&A
Slide 7: Appendix: Non-GAAP Financial Measures
APPENDIX: NON-GAAP FINANCIAL MEASURES
Slide 8: Adjusted EBITDA
ADJUSTED EBITDA Adjusted EBITDA is a non-GAAP financial measure that we define as net income (loss) from continuing operations less equity earnings from unconsolidated investment and net income attributable to non-controlling interest; plus total distributions from unconsolidated investment, interes
Slide 9: Adjusted EBITDA - Continued
ADJUSTED EBITDA - CONTINUED Coal Royalty Construction Corporate and (In thousands) and Other Soda Ash Aggregates Financing Total Three Months Ended June 30, 2018 Net income (loss) from continuing operations $ 40,650 $ 16,529 $ 2,941 $ (20,997) $ 39,123 Less: equity earnings from unconsolidated inves
Slide 10: Distributable Cash Flow
DISTRIBUTABLE CASH FLOW Distributable Cash Flow (“DCF”) is a non-GAAP financial measure that we define as net cash provided by operating activities of continuing operations plus distributions from unconsolidated investment in excess of cumulative earnings, proceeds from sales of assets, including th
Slide 11: Distributable Cash Flow – Continued
DISTRIBUTABLE CASH FLOW – CONTINUED 11
Slide 12: Free Cash Flow
FREE CASH FLOW Free Cash Flow (“FCF”) is a non-GAAP financial measure that we define as net cash provided by operating activities of continuing operations plus distributions from unconsolidated investment in excess of cumulative earnings and return of long-term contract receivables (including affili
Slide 13: Free Cash Flow - Continued
FREE CASH FLOW - CONTINUED ua Coal Royalty Construction Corporate and (in thousands) and Other Soda Ash Aggregates Financing Total Three Months Ended June 30, 2018 Distributable cash flow $ 52,424 $ 12,250 $ (1,751) $ (10,082) $ 52,841 Less: proceeds from the sale of assets (170) - (54) - (224) Less
Slide 14: Return on Capital Employed
RETURN ON CAPITAL EMPLOYED Return On Capital Employed ("ROCE") is a non-GAAP financial measure that we define as net income from continuing operations, plus interest expense divided by the sum of equity and debt. ROCE should not be considered an alternative to, or more meaningful than, net income or
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