Kawasaki Kisen Kaisha, Ltd. · TSE:9107
Kawasaki Kisen Kaisha — FY2006 Earnings Presentation
21 slides from Kawasaki Kisen Kaisha's earnings presentation, May 10, 2007
Slide 1: K LINE FY2006 Results Presentation
it KLINE 2007 3 2007 5 10
Slide 2: A. 2006 B. 2007 C.
A. 2006 A-1 A-2 A-3 B. 2007 B-1 B-2 B-3 B-4 C. K LINEVision2008+ C-1 C-2 2006 C-3 C-4 2
Slide 3: A. 2006
it KLINE A. 2006
Slide 4: A-1. FY2006 results summary
A-1. 2006 2005 10,855 9,408 1,447 15.4% 10,800 55 8,573 7,426 1,147 15.4% 8,400 173 614 880 ▲ 266 -30.3% 610 4 281 567 ▲ 286 -50.4% 280 1 639 886 ▲ 247 -27.9% 630 9 319 578 ▲ 259 -44.7% 300 19 515 624 ▲ 109 -17.4% 515 - 253 388 ▲ 136 -34.9% 240 13 ¥18 ¥18 - - ¥18 - ¥117 ¥113 ¥4 - ¥116 ¥1 $319 $286 $
Slide 5: A-2. Ordinary income variance analysis
A-2. +1,447 247 05F 886 06F 630 => 06F 639 • 25 5 47 ▲ 88 ▲6 • ▲ 179 10 • 398 7 ▲ 364 ▲8 ▲ 39 1 ▲ 247 9 • • +55 9 5
Slide 6: A-3. Segment overview
A-3. it K LINE AKI KISEN KAISHA, LTT <AHLK > Fe _£5035(8 FA (521 ty) FA ee 7S (038308 ze) HPNE A - BAAR K 4 th A AOS OOOTEURB ES TL ADARERT V7 ALK ARERR ALKA SRO S ¢ «PARTS (293. SATEU) : SEPARATES IC LOT HA LL 10.9% BE LR EIA 9 S88 kit 2A ° 322% (ATHALL) dae RN KE Faak EMR) ASS ASG +2% A2% Ash fem)
Slide 7: A-3. Market and charter rates
A-3. • 22 168.8 187.4 +11.0 • • • 2005 2006 170 $37,333 $38,333 $37,833 $42,167 $66,833 $54,500 44% 74 $18,583 $17,900 $18,242 $23,434 $34,708 $29,071 59% 53 $17,200 $16,800 $17,000 $24,200 $30,592 $27,396 61% 7
Slide 8: A-3.
A-3. it K LINE KAWASAKI KISEN KAISHA, LTD. ° 271 312 +15
Slide 9: A-3. Tanker segment: VLCC, Aframax
A-3. • 31 • VLCC 1 AFRAMAX 3,098 3,240 +4.6 • 2005 2006 (WS) VLCC / ) 78 138 108 105 67 86 -21% Aframax / ) 138 245 192 180 148 164 -14% 7 / ) 203 256 230 205 149 177 -23% 9
Slide 10: A-3.
A-3. K LIN KAWASAKI KISEN KAISHA, LTD. 10
Slide 11: B. 2007
it KLINE B. 2007
Slide 12: B-1. FY2007 forecast
B-1. 2007 2007 2006 6,000 12,000 10,855 1,145 10.5% 4,700 9,400 8,573 827 9.6% 470 940 614 326 53.2% 310 600 281 319 113.5% 480 950 639 311 48.7% 330 630 319 311 97.2% 320 630 515 115 22.3% 200 390 253 138 54.5% ¥10 ¥20 ¥18 ¥2 - ¥115 ¥115 ¥117 ¥-2 - $340 $340 $319 $21 - 12
Slide 13: B-2. FY2007 forecast by segment
B-2. 2007 2006 2,900 2,800 5,700 2,439 2,596 5,035 665 70 15 85 ▲ 32 ▲ 46 ▲ 78 163 3,100 3,200 6,300 2,741 3,079 5,820 480 410 455 865 278 439 717 148 6,000 6,000 12,000 5,180 5,675 10,855 1,145 480 470 950 246 393 639 311 13
Slide 14: B-3. Ordinary income forecast variance
B-3. 1,145 311 $319 $340 ¥117 ¥115 1,500 50 $300 $340 ¥110 ¥115 06F 639 07F 900 =>07F 950 ▲ 24 60 ▲ 55 ▲ 104 269 196 255 ▲ 35 ▲ 139 ▲ 67 5 0 311 50 1 12 $10/MT 26 14
Slide 15: B-4. Fleet changes
B-4. 5700 +665 85 +163 321 TEU ( +9% ) 2005 2006 2007 - - - 15
Slide 16: B-4. Market assumptions
B-4. 4 BRICs 2006 22 2007 10 2007 170 US$105,000 $60,000 $60,000 $60,000 74 US$46,000 $30,000 $30,000 $30,000 53 US$38,500 $27,000 $27,000 $27,000 LNG 3 34 3 2007 (WS) VLCC ( 55 70 70 70 Aframax ( / ) 155 140 140 140 7 ( / ) 135 150 150 150 16
Slide 17: C. K LINE Vision 2008+
it K LINE C. K LINEVision2008*
Slide 18: C-1. K LINE Vision 2008+
C-1. “K” LINE Vision2008+ • – – – – • – – – 18
Slide 19: C-2. K LINE Vision 2008+
C-2. K LINEVision2008+ 2006 2007 86 52 14 10 6 13 2 6 108 81 ( 100 60 8 21 19
Slide 20: C-3. K LINE Vision 2008+ fleet plan
C-3. K LINEVision2008+ 2006 2007 2008 2009 6 3 6 14 1620TEU 0 2 4 3 2400TEU 0 0 1 2 4000TEU 0 0 0 4 5500TEU 3 0 0 0 2007 2009 6400TEU 0 0 0 2 8000TEU 3 1 1 3 22 10 13 16 Capesize 9 2 4 6 Vision2008+ 2008 Panamax 4 4 0 5 Handymax 4 2 2 1 SmallHandy 2 1 3 2 500 Chip/Pulp 1 0 3 0 Corona 2 1 1 2 2006 47
Slide 21: C-4. K LINE Vision 2008+ financial targets
C-4. K LINEVision2008+ 2006 2007 2008 140% 4,500 10,855 12,000 11,000 4,000 120% 639 950 1,100 515 630 700 3,500 100% CF 665 1,085 3,000 (345 80% CF 1,029 1,300 2,500 1,150 2,000 60% 380 470 1,500 1221 320 40% 3,445 4,000 4,000 1,000 3,262 3,600 3,500 20% 500 ROE 17% 18% 19% ROA 8% 11% 11% 0 0% 04F