Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — Q2 2012 Earnings Presentation
16 slides from Compania Sud Americana De Vapores's earnings presentation, Sep 4, 2012
Slide 1: Second Quarter 2012 Results
Second Quarter 2012 Results September 4th, 2012
Slide 2: Agenda
Agenda 1. Market Situation 2. Second Quarter 2012 Results 3. Restructuring Costs 4. Cash Position 5. Outlook
Slide 3: 1. Market Situation
BICSAV 1. Market Situation EICSAV
Slide 4: Containership Fleet: Idle Fleet and Orderbook/Fleet
Containership Fleet Graph 1: Idle Fleet: 466,720 TEU or 2.9% (July 2012) Idle Fleet % of Total Fleet 1.600 16% 1.400 14% Idle Capacity in Th. Teus 1.200 12% % of Total Fleet 1.000 10% 800 8% 2.9% 600 6% 400 4% 200 2% 0 0% Jul-11 Feb-09 Feb-10 Sep-11 Feb-12 Jan-11 Jan-12 Dec-08 Jun-09 Dec-09 Jun-10 D
Slide 5: Market Evolution
Market Evolution Graph 3: SCFI vs Rotterdam Platts SCFI -RTM Margin Rotterdam Platts SCFI During the first quarter of the year, freight 1.800 Average Margin rates were deeply affected in most markets, Average Margin 2010 = 918 Average Margin 2011 = 392 2012 = 527 achieving historically low margins,
Slide 6: 2. Second Quarter 2012 Results
2. Second Quarter 2012 Results
Slide 7: Second Quarter 2012 Results
Second Quarter 2012 Results Graph 4: Main Financial Figures (USD Million) 1.400 -36,2% -48,3% 1.200 -3,1% -15,4% 1.000 800 600 1.284,2 -1.589,9 400 844,5 818,7 -971,2 -821,6 200 -58,8 -61,7 0 -48,6 -175,3 -200 -75,7 -381,4 20,9% -64,8 % -400 -22,3% -83,8% -600 Q2-11 Q1-12 Q2-12 Q2-11 Q1-12 Q2-12 Q2-
Slide 8: 3. Restructuring Costs
BICSAV 3. Restructuring Costs EICSAV
Slide 9: Restructuring Costs
Restructuring Costs Figures in US$ Million Provision Effective Effect on Provision Balance Costs Results Balance 31-dic-11 Q1-12 Q1-12 31-mar-12 Onerous Contracts 95,0 31,4 27,6 91,3 Vessel Lay Up 84,2 35,6 (0,2) 48,3 Container Overstock 25,5 19,1 2,9 9,3 Others 0,2 0,2 Total (1) 204,6 86,2 30,5 148
Slide 10: 4. Cash Position
BICSAV 4. Cash Position EICSAV
Slide 11: Cash Position
Cash Position Graph 5: Cash Position (USD million) 523,1 -140,4 28,9 301,0 -63,7 -46,8 Cash 31-Mar-12 Q2 Results* Net Capex Net Debt Others Cash 30-Jun-12 *Results before non controlling interests. 11
Slide 12: 5. Outlook
BICSAV 5. Outlook EICSAV
Slide 13: Outlook
Outlook Graph 6: SCFI vs Rotterdam Platts SCFI -RTM Margin Rotterdam Platts SCFI 1.800 Average Margin Average Margin 2010 = 918 Average Margin 2011 = 392 2012 = 622 1.600 1.400 1.200 1.000 800 600 400 200 0 Feb-10 Sep-10 Nov-10 Feb-11 Sep-11 Nov-11 Feb-12 May-10 Jun-10 May-11 Jun-11 May-12 Jun-12 De
Slide 14: Outlook
Outlook CSAV’s second quarter results showed a significant improvement compared to the first quarter of 2012, improving the performance of our continuing operations every month during the quarter. Freight rate increases have been implemented during the last months, with different degrees of success,
Slide 15: Outlook
Outlook Due to a number of separate initiatives taken by the largest companies in the industry, followed by the rest of the industry players, overall market conditions have improved, despite the weak global economy. During the months of May onwards, the industry has reached more satisfactory freight
Slide 16: Disclaimer
Disclaimer This presentation provides general information about Compañía Sud Americana de Vapores S.A. (“CSAV”). It consists of summary information and does not purport to be complete. It is not intended to be relied upon as advice to potential investors. No representations or warranties, express or
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