Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — Q1 2017 Earnings Presentation
26 slides from Compania Sud Americana De Vapores's earnings presentation, May 30, 2017
Slide 1: Investor Presentation Q1 2017 Results
Investor Presentation Q1 2017 Results May 30, 2017
Slide 2: Agenda
Agenda 1. Highlights 2. Market Situation 3. Q1 2017 Results 4. Balance Sheet & Cash Flows 5. Outlook
Slide 3: 1. Highlights
1. Highlights EICSAV
Slide 4: Highlights
Highlights Q1 2017 Results The loss of US$ 22.1 M in Q1 2017 is mainly explained by the result of Hapag-Lloyd AG (“HLAG”), which was affected by a higher bunker price, only partially offset by a slower recovery of freight rates. The Other transport services segment reports a profit for a fourth cons
Slide 5: 2. Market Situation
2. Market Situation EIICSAV
Slide 6: Market Evolution: adjusting supply
Market Evolution: adjusting supply Feb-17: 15,2% Source: Clarksons (April 2017), Drewry Extracted from HLAG´s Investor Presentation Q1 2017, available in https://www.hapag-lloyd.com/en/ir.html 6
Slide 7: Market Evolution: demand growth
Market Evolution: demand growth Source: Clarksons (April 2017), IFM WEO (April 2017) Extracted from HLAG´s Investor Presentation Q1 2017, available in https://www.hapag-lloyd.com/en/ir.html 7
Slide 8: Market Evolution: freight rates slowly recovering, but volatile
Market Evolution: freight rates slowly recovering, but volatile SCFI vs Rotterdam Platts (March 2017) (1) (2) Margen SCFI - RTM Rotterdam Platts SCFI 1.800 Avg. Margin Avg. Margin Avg. Margin Avg. Margin Avg. Margin Avg. Margin Avg. Margin 2010 = 918 2011 = 392 2012 = 605 2013 = 480 2014 = 536 2015
Slide 9: Market Evolution: carriers performance evolution
Market Evolution: carriers performance evolution Source: Hapag Lloyd´s information (11 May 2017) Extracted from HLAG´s Investor Presentation Q1 2017, available in https://www.hapag-lloyd.com/en/ir.html 9
Slide 10: Market Evolution: consolidation trend
Market Evolution: consolidation trend Note: Diagram assuming that all currently announced mergers (NYK & MOL & K-Line, Maersk Source: Drewry (Forecaster 1Q17), MDS & Hamburg Süd) will receive regulatory approvals and are executed as announced. Simple Transmodal (April 2017, October 2013) sum of stan
Slide 11: Hapag-Lloyd / UASC Merger
Hapag-Lloyd / UASC Merger Extracted from HLAG´s Investor Presentation on Closing with UASC, available in https://www.hapag-lloyd.com/en/ir.html 11
Slide 12: Hapag-Lloyd / UASC Merger: balanced trade portfolio
Hapag-Lloyd / UASC Merger: balanced trade portfolio Extracted from HLAG´s Investor Presentation on Closing with UASC, available in https://www.hapag-lloyd.com/en/ir.html 12
Slide 13: Hapag-Lloyd / UASC Merger: modern, young and competitive fleet
Hapag-Lloyd / UASC Merger: modern, young and competitive fleet Extracted from HLAG´s Investor Presentation on Closing with UASC, available in https://www.hapag-lloyd.com/en/ir.html 13
Slide 14: Hapag-Lloyd / UASC Merger: expected synergies
Hapag-Lloyd / UASC Merger: expected synergies Extracted from HLAG´s Investor Presentation on Closing with UASC, available in https://www.hapag-lloyd.com/en/ir.html 14
Slide 15: 4. Q1 2017 Results
4. Q1 2017 Results EICSAV
Slide 16: CSAV Results Q1 2017
CSAV Results Q1 2017 Q1 2017 Var YoY Q4 2016 Q3 2016 Q2 2016 Q1 2016 MUS$ M US$ M US$ M US$ M US$ M US$ Operating revenue 26.0 (1.5) 34.0 35.5 30.1 27.5 Operating cost (23.4) 9.9 (29.6) (29.8) (27.3) (33.3) Gross margin 2.6 8.4 4.4 5.7 2.8 (5.8) SG&A and others (3.3) - (5.0) (4.3) (3.5) (3.3) Other
Slide 17: Reporting Segments Results
Reporting Segments Results Container transport services Q1 2017 Var YoY Q4 2016 Q3 2016 Q2 2016 Q1 2016 M US$ M US$ M US$ M US$ M US$ M US$ SG&A and others (0.8) - (1.4) (1.1) (0.8) (0.8) Other income - - - (0.1) 12.6 - Operational result (0.8) - (1.4) (1.2) 11.8 (0.8) Financial result (1.1) (0.4) (
Slide 18: Hapag-Lloyd Results Q1 2017: a US$ 66 M loss, with a positive EBIT
Hapag-Lloyd Results Q1 2017: a US$ 66 M loss, with a positive EBIT. Extracted from HLAG´s Investor Presentation Q1 2017, available in https://www.hapag-lloyd.com/en/ir.html 18
Slide 19: Hapag-Lloyd reports and information
Hapag-Lloyd reports and information For more details on HLAG´s results please visit IR Section of HLAG website – https://www.hapag-lloyd.com/en/ir.html Extracted from HLAG´s Investor Presentation Q1 2017 and HLAG´s Investor Presentation on Closing with UASC, available in https://www.hapag-lloyd.com/
Slide 20: 4. Balance Sheet & Cash Flows
4. Balance Sheet & Cash Flows EICSAV
Slide 21: Balance Sheet Position
Balance Sheet Position (Figures in USD million) Assets March 2017 December 2016 Var Cash & cash equivalents 51,8 54,6 (2,8) Accounts receivables 20,1 20,9 (0,8) Inventories 3,1 4,3 (1,2) Other current assets 4,2 4,4 (0,2) Total current assets 79,2 84,2 (5,0) Equity accounted investees 1.756,9 1.771,
Slide 22: Cash Position
Cash Position (Figures in USD million) (2.2) 0.2 (0.8) -3.4 Non recurring outflows (provisions) 54,6 +1.2 Operation related outflows - 0,1 Adj. EBITDA(*) +1,3 WkC & others 51,8 31.12.16 Operational Cash Flow Investing Cash Flow Financing Cash Flow 31.03.17 (*) EBITDA excluding non operating cash ite
Slide 23: 5. Outlook
5. Outlook EICSAV
Slide 24: Hapag-Lloyd Outlook
Hapag-Lloyd Outlook: Key benchmark figures for the 2017 outlook Global economic growth (IMF) 3.5% Increase in global trade (IMF) 3.8% Increase in global container transport volume (IHS) 3.7% Transport volume, Hapag-Lloyd Increasing moderately Average bunker consumption price, Hapag-Lloyd Increasing
Slide 25: Other Transport Services Outlook
Other Transport Services Outlook: Car Carrier business: • Demand • Retail light vehicle sales in CSAV’s local markets grew in 2016 and continue to show signs of recovery. • High and heavy vehicle sales (trucks, buses and others) start to show a positive trend in 2017. As in 2016, the company will co
Slide 26: 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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