Royal Vopak Nv · EURONEXT:VPK
Royal Vopak Nv — Investor Day (July 2008)
26 slides from Royal Vopak Nv's investor day presentation, Jul 10, 2008
Slide 1: Analyst Meeting Antwerp July 10, 2008
ANALYST MEETING ANTWERP JULY 10, 2008
Slide 2: The world of Vopak
The world of Vopak
Slide 3: Vopak's performance
Vopak’s performance LITR OCCUPANCY RATES 6 100% ° 23 2 23 = 1 2 ¢ - of 2 ¢ 2002" 2003° 20 fpoos 2005 2006 25 = 2 ¢ | ra MENUES 22 24 - 2 _—_— 20 2 ta 2005 2006 2007 2008 6 14 600,00 4 wl 12 o 500,00 2002" 003° 2004 2005 2008 2007 =a eS, 2003" 2004 2005 Vopak
Slide 4: Many things have changed…
Many things have changed… High oil prices Scarcity of land Inflation: Financial crisis Construction costs Inflation: Growth of our Wage costs competitors SPEED IS CRUCIAL!
Slide 5: Vopak: financial flexibility
Vopak: financial flexibility Financial crisis USPP programmes & RCF Private equity less active… More M&A opportunities for Vopak…
Slide 6: High oil prices
High oil prices High oil prices No direct correlation between Vopak and oil prices… More demand for blending… Increased demand for tank storage in the insecure times…
Slide 7: Dealing with inflation…
Dealing with inflation… Inflation: Wage costs Automation… Inflation: Construction costs Process efficiency… Design standards for new terminals… Standardization of service processes…
Slide 8: Challenge: availability of land
Challenge: Scarcity of land availability of land Port Authority strives for a balance between tank storage, container storage and production in its ports… New areas: emerging markets… First mover advantages… Lack of sufficient investment in oil winning & refining infrastructure… Vopak has still many
Slide 9: Competition is learning fast…
Competition Growth of our competitors is learning fast… Cbm in million 0 5 10 15 20 25 30 Vopak 26 Oiltanking 12,5 NuStar 11,3 Kinder Morgan 11,2 IMTT 6,1 CIM S.N.C. 5 SUMED 4,2 Magellan 3,7 Vitol 3,3 EAPC 2,9 Scandinavian Tank Storage 2,8 Odfjell 2,8 Vopak’s expected growth by the end Sunoco 2,5 Un
Slide 10: It's about company growth accelerated
IT’S ABOUT COMPANY GROWTH accelerated accelerated • Focus on the right locations. company growth • Identify strategic growth opportunities. • Grow smart: • Prioritise do’s and don'ts. • Time to execute L. • Development costs L. • Hiring, education, retention. Terminal of the future Standardization V
Slide 11: Current Growth Projects
Current Growth Projects Vopak
Slide 12: Vopak Terminal Linkeroever (Left Bank)
Vopak Terminal Linkeroever (Left Bank)
Slide 13: Vopak Terminal Bahamas
Vopak Terminal Bahamas
Slide 14: Vopak EOS
Vopak EOS
Slide 15: New service development: LNG
New service development: LNG LNG storage & process LNG channel
Slide 16: Expected Growth (up to 2011)
Expected Growth (up to 2011) Total expected market growth up to 2011: 37M chm Largest Growers (excl. Vopak) — Sinochem 3.380.000 CBM — Oiltanking 3.009.000 CBM ~ Vitol — 2.0 ¥ Ss d. — JurongR
Slide 17: Competitor Growth by Location
Competitor Growth by Location • Sinochem (China) 3.380.000 • Zhuhai 1.320.000 • Zhoushan 960.000 • Tianjin 950.000 • Yangzhou 150.000 • Oiltanking 3.009.000 • Asia • Yeoshu (Korea) 850.000 • Merak (Indo.) 600.000 • Nanjing (China) 78.000 • Europe • Marseille 800.000 • Amsterdam 350.000 • Other • Vil
Slide 18: Competitor Growth by Location
Competitor Growth by Location • Vitol 2.034.000 • Rotterdam 734.000 • Amsterdam 800.000 • Fujairah 500.000 • Jurong Cavern 1.470.000 • Singapore 1.470.000 • Titan, China 1.400.000 • Quanzhou 1.400.000 • Stolt 1.329.000 • Tianjin (China) 800.000 • Ningbo (China) 204.000 • Tembusu (Singapore) 325.000
Slide 19: Competitor Growth by Location
Competitor Growth by Location • Horizon 1.187.000 • Middle East & Africa • Tangiers (Morocco) 500.000 • Yanbu (Saudi Arabia) 160.000 • Djibouti (Djibouti) 132.000 • Jebel Ali (UAE) 13.960 • Asia • Jurong (Singapore) 250.000 • Ulsan (Korea) 131.750 • KIC Group 1.000.000 • Pontian (Malaysia) 1.000.000
Slide 20: Competitor Growth by Location
Competitor Growth by Location • Sea-tank (France) 530.000 • Marseille 420.000 • Rouen 110.000 • Chemoil 500.000 • Fujairah (UAE) 500.000
Slide 21: Expected Growth North America (up to 2011)
Expected Growth North America (up to 2011)
Slide 22: Tomorrow is approaching fast
TOMORROW IS APPROACHING FAST
Slide 23: It's about all three
IT’S ABOUT ALL THREE COMPANY GROWTH OPERATIONAL EFFICIENCY CUSTOMER EXCELLENCE
Slide 24: Strategic initiatives
STRATEGIC INITIATIVES EXCELLENT EXCELLENT MAXIMUM MAXIMUM ACCELERATED ACCELERATED CUSTOMER CUSTOMER OPERATIONAL OPERATIONAL COMPANY COMPANY SERVICE SERVICE EFFICIENCY EFFICIENCY GROWTH GROWTH •• KAM KAM •• Operational Operational •• Growth Growth •• Customer Customer Metrics Metrics Efficency Effice
Slide 25: Outlook Reaffirmed!
Outlook Reaffirmed! Guidance Outlook 5 year plan EUR (mln) FY 2006 FY 2007 FY 2008 (2011) Long-term EBITDA* 309.8 388.8 475-550 Updated to EBIT** 220.9 272.9 a minimum 2009 / 2010 increase of 10% ROCE 19.4% 25.1% Around 16% Bearing Bearingininmind mindsubstantial substantial investments in greenfiel
Slide 26: Thank you!
Thank you! 26