Cmb.tech Nv · EURONEXT:CMBT
Cmb.tech Nv — Euronav — Q3 2016 Earnings Presentation
10 slides from Cmb.tech Nv's earnings presentation, Oct 31, 2016
Slide 1: Earnings Call Q3 2016
Earnings Call Q3 2016 31 October 2016 1
Slide 2: Forward Looking Statements
Forward Looking Statements Matters discussed in this presentation may constitute forward-looking statements under U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the Company’s current views with respect to future events
Slide 3: Agenda
Agenda 1 Q3 2016 Highlights 2 Financial Review 3 Current themes 4 Outlook 5 Q&A 3
Slide 4: Highlights Q3 2016
Highlights Q3 2016 In USD per day Third quarter 2016 Third quarter 2015 VLCC 60000 VLCC 50000 Q3 15 Average spot rate (TI Pool) 27,100 52,368 40000 Average time charter rate* 41,480 43,516 USD/day 30000 SUEZMAX 20000 Cash B/E Q3 16 Average spot rate** 19,045 40,048 10000 Average time charter rate* 2
Slide 5: Financial Highlights – Income Statement
Financial Highlights – Income Statement HIGHLIGHTS 1 Modest Profit despite 2 Depreciation charge 3 Fixed income delivery freight rate pressure reflects full consolidation from time charter book of 2 Suezmax & 2 VLCC offset by spot rates below break even The most important key figures (unaudited) are
Slide 6: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Balance Sheet 2016 2015 HIGHLIGHTS (in $ million) sep/30 dec/31 Cash 90.5 131.5 Restricted cash 0.2 0.1 Leverage remains within Other current assets 154.1 243.4 1 company imposed limits Long term assets: at 43% marked to Newbuildings 72.1 93.9 market (40% v book
Slide 7: Current Themes – Correct Balance sheet structure vital
Current Themes – Correct Balance sheet structure vital 60 3,000 USD millions Number of ships Market Cap Total Debt 50 2,500 40 2,000 30 1,500 20 1,000 10 500 0 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 7
Slide 8: Current themes – Asset prices – approaching a low in our view
Current themes – Asset prices – approaching a low in our view ADJUSTED FOR INFLATION ASSET VALUES CLOSE TO 30 YEARS LOW VLCC (5-Year) Inflation-Adjusted VLCC (5-Year) Asset price (in millions) 160 140 120 100 80 60 40 20 0 8
Slide 9: Outlook
Outlook 1 Q4 likely to be “regular” quarter 2 Balance Sheet strength critical to long term success 3 Medium term structure for tanker markets positive Demand for Oil Supply of Oil Ton Miles Vessel Supply Financing S/TERM ROBUST HEADWINDS BALANCED REDUCED NEW BARRIER L/TERM TO ENTRY MANAGEABLE 9
Slide 10: Q&A
EURO The ocean is our environment Section 5 AK Q&A