Mpc Container Ships Asa · OSL:MPCC

Mpc Container Ships Asa — Capital Link Corporate Presentation Series (January 2024)

21 slides from Mpc Container Ships Asa's conference presentation, Jan 17, 2024

  1. Slide 1: Capital Link Corporate Presentation Series

    January 17, 2024 CAPITAL LINK CORPORATE PRESENTATION SERIES

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation (the “Presentation”) has been prepared by MPC Container ships ASA (the “Company”) for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. Please note that no representation or war

  3. Slide 3: Agenda

    AGENDA 01 ABOUT MPC CONTAINER SHIPS 02 MARKET UPDATE 03 COMPANY OUTLOOK MPC Container Ships | Capital Link - Corporate Presentation Series | 3

  4. Slide 4: Market-leading container ship company with strong financials and emphasis on shareholder returns

    MARKET-LEADING CONTAINER SHIP COMPANY WITH STRONG FINANCIALS AND EMPHASIS ON SHAREHOLDER RETURNS LEADING INTRA-REGIONAL STRONG BALANCE SHEET AND CLEAR CAPITAL ALLOCATION POLICY ESTABLISHED CORPORATE SET-UP TONNAGE PROVIDER SIGNIFICANT EARNINGS BACKLOG AND INVESTMENT PRINCIPLES WITH STRONG GOVERNANCE

  5. Slide 5: Distinct focus on intra-regional trade

    DISTINCT FOCUS ON INTRA-REGIONAL TRADE FLEET EMPLOYMENT BY REGION TOP TONNAGE PROVIDER < 6K TEU 1 MANAGING OWNER TOTAL FLEET SIZE (TEUK) 1 # OF VESSELS Europe 6 Med & 60 134 Latin North Intra-Asia Africa 15 Peter Doehle 151 48 America & Caribs 6 ME & Contships 52 47 16 West SEA Africa 12 Kotoko Kaiu

  6. Slide 6: Capital market and corporate profile

    CAPITAL MARKET AND CORPORATE PROFILE Listing venue Euronext Oslo Børs/Oslo Stock Exchange SHAREHOLDER STRUCTURE 2 Ticker MPCC IPO April 2017 17,1% Shares Outstanding 443,700,279 MPC Group & Affiliates 41,2% Free Float int. investors Market Cap 1 USD ~612m (NOK ~6.3bn) Free Float Norwegian investors

  7. Slide 7: Providing significant shareholder returns

    PROVIDING SIGNIFICANT SHAREHOLDER RETURNS DIVIDEND DISTRIBUTIONS RECURRING EVENT-DRIVEN PERIOD TOTAL USD million 732.7 DPS (NOK) DPS (NOK) 62.1 Q4 2021 0.95 - 0.95 Event-driven Recurring 97.6 66.6 31.1 Q1 2022 1.30 3.30 4.60 66.6 Q2 2022 1.57 0.42 1.98 84.3 66.6 13.3 Q3 2022 1.58 0.30 1.87 84.3 71.0

  8. Slide 8: Agenda

    AGENDA 01 ABOUT MPC CONTAINER SHIPS 02 MARKET UPDATE 03 COMPANY OUTLOOK MPC Container Ships | Capital Link - Corporate Presentation Series | 8

  9. Slide 9: Subdued macroeconomic outlook but carriers well positioned

    SUBDUED MACROECONOMIC OUTLOOK BUT CARRIERS WELL POSITIONED GDP GROWTH & MACROECONOMIC OUTLOOK CARRIERS1 ARE WAY LESS LEVERAGED TODAY THAN IN 2019 Net Debt / Equity Ratio (RHS) Cash and Cash Equivalents Equity Percent 7 6,3 USD bn World GDP Growth 6 2000-19 Avg. GDP Growth 1,3 140 134 1.3 5 1.2 3,8 3

  10. Slide 10: Newbuilding prices decoupled from charter markets

    NEWBUILDING PRICES DECOUPLED FROM CHARTER MARKETS CHARTER RATES & ASSET PRICES IDLE STATISTICS Total idle fleet as of November 06, 2023: HARPEX 2nd Hand/Newbuild Price Index No. of vessels 121 vessels (289k TEU; 1.1% of total fleet) 5,000 HARPEX 180 350 2nd Hand Price Index 3-5.1k 4,500 301 160 300

  11. Slide 11: Expected oversupply will weigh on total market going forward

    EXPECTED OVERSUPPLY WILL WEIGH ON TOTAL MARKET GOING FORWARD DEMAND/SUPPLY DEVELOPMENT TOTAL MARKET GLOBAL AND INTRA-REGIONAL DEMAND DEVELOPMENT Demand Total Market % Demand Intra Regional Trades 10 Supply growth (TEU capacity) 5,9 Demand growth (TEU throughput) 4,1 4,6 4,6 8,2 3,7 4,0 4,0 4,0 4,1 8

  12. Slide 12: Favorable orderbook-ratios & recycling potentials in smaller sizes

    FAVORABLE ORDERBOOK-RATIOS & RECYCLING POTENTIALS IN SMALLER SIZES FLEET EXPANSION HEAVILY SKEWED TOWARDS LARGER SEGMENTS TEU FLEET (BY AGE) TEU ORDERBOOK FLEET VS TOTAL ORDERBOOK (2024-2028) 25+ 20-24 15-19 0-14 2024 2025 2026 % (Order Book/fleet) (capacity based) >17k TEU 17% 90 High OB/fleet, rel

  13. Slide 13: Impact assessment of the current Red Sea situation

    IMPACT ASSESSMENT OF THE CURRENT RED SEA SITUATION OVERALL MARKET IMPACT DEVELOPMENT OF SPOT FREIGHT RATES (SCFI) Index Impact on trades 4,500 4,000 » Far East (SGP) – Med (Malta) : + 3,400 nm and 10 days extra sailing time (@14knts) 3,500 » Far East (SGP) – North Europe (RTM): +5,700nm and 17 days

  14. Slide 14: Agenda

    AGENDA 01 ABOUT MPC CONTAINER SHIPS 02 MARKET UPDATE 03 COMPANY OUTLOOK MPC Container Ships | Capital Link - Corporate Presentation Series | 14

  15. Slide 15: Robust backlog and counterparties provides forward visibility

    ROBUST BACKLOG AND COUNTERPARTIES PROVIDES FORWARD VISIBILITY FIXED OPERATING DAYS AND REVENUE / PROJECTED EBITDA 1, 2, 3 COUNTERPARTIES Revenue backlog 2, 3 / Proj. EBITDA 2 ,3, 4 USD 1.0bn / 0.7bn Contracted forward 140 386 180 84 247 TOP 10 revenues (USD m) 1, 3, 5 OTHER Contracted forward TCE (U

  16. Slide 16: Strong value proposition with attractive implied yield

    STRONG VALUE PROPOSITION WITH ATTRACTIVE IMPLIED YIELD CURRENT ENTERPRISE VALUE FULLY COVERED OPEN RATE SENSITIVITY In USDm In USDm 503 Further Upside Potential 473 242 ~830 425 213 364 Recycling Value 5 151 218 89 82 110 72 612 684 712 2024 2025 2024 2025 Operating Revenues 8 Net Profit 9 NIBD Q3 2

  17. Slide 17: Operating with industry-low leverage and a flexible balance sheet

    OPERATING WITH INDUSTRY-LOW LEVERAGE AND A FLEXIBLE BALANCE SHEET TRADING FLEET NEWBUILDINGS COMMENTS 366 » Continuation of de-levering the ~360 balance sheet with further envisaged debt repayments towards the end of 2023 ~250 » No significant debt maturities up until 217 220 2027 » Maintaining high

  18. Slide 18: Well-positioned for sustained shareholder value creation

    WELL-POSITIONED FOR SUSTAINED SHAREHOLDER VALUE CREATION SUMMARY » Strong financial and operational performance with continued dividend distributions » Continuation of low-leverage strategy while executing on fleet optimization » Continued market softening with prevailing uncertainty OUTLOOK » Robus

  19. Slide 19: Questions & Answers

    QUESTIONS & ANSWERS non MPC Mi CONTAINER SHIPS

  20. Slide 20: References slide

    REFERENCES SLIDE SLIDE 15: ROBUST BACKLOG AND COUNTERPARTIES PROVIDES FORWARD VISIBILITY 1. Underlying min/max periods for contracted charter based on management assessment. Contracted Revenue and Projected EBITDA not including IFRS adjustments 2. Revenues / Periods / TCE’s / costs in good faith, bu

  21. Slide 21: oe MPC

    oe MPC

MPC Container Ships — Capital Link Corporate Presentation Series (January 2024) on 6ix