Martin Midstream Partners L.p. · NASDAQ:MMLP
Martin Midstream Partners L.p — Conference Presentation (November 2015)
27 slides from Martin Midstream Partners L.p's conference presentation, Nov 30, 2015
Slide 1: Martin Midstream Partners L.P. Conference Presentation November - December 2015
MARTIN MIDSTREAM PARTNERS L.P. Conference Presentation November - December 2015
Slide 2: Use of Non-GAAP Financial Measures
USE OF NON-GAAP FINANCIAL MEASURES
Slide 3: Forward Looking Statements
FORWARD LOOKING STATEMENTS Statements included that are not historical facts (including any statements concerning plans and objectives of management for future operations or economic performance or assumptions or forecasts related thereto), are forward- looking statements. These statements can be id
Slide 4: Martin Resource Management (MRMC) Overview
MARTIN RESOURCE MANAGEMENT (MRMC) OVERVIEW • • • • • • • • • • • • • • • •
Slide 5: Strong General Partner Support
STRONG GENERAL PARTNER SUPPORT • • • • • • • •
Slide 6: Martin Midstream Partners L.P. (MMLP) Overview
MARTIN MIDSTREAM PARTNERS L.P. (MMLP) OVERVIEW • • • • • • • • • • • • •
Slide 7: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS • • • • • • • • • •
Slide 8: Uniquely Diversified Operating Mix
UNIQUELY DIVERSIFIED OPERATING MIX
Slide 9: Strong Fee-Based Contract Mix
STRONG FEE-BASED CONTRACT MIX Recent Fee-Based Acquisitions Driving MMLP Growth • • • • • • • • • •
Slide 10: MMLP Asset Locations – All Segments
MMLP ASSET LOCATIONS – ALL SEGMENTS
Slide 11: High Quality Long Term Customer Base
HIGH QUALITY LONG TERM CUSTOMER BASE • • • • • •
Slide 12: Terminalling & Storage Overview
TERMINALLING & STORAGE OVERVIEW
Slide 13: Terminalling & Storage: Corpus Christi Crude Terminal
TERMINALLING & STORAGE Corpus Christi Crude Terminal
Slide 14: Terminalling & Storage: Smackover Refinery
TERMINALLING & STORAGE Smackover Refinery
Slide 15: Terminalling & Storage: Martin Lubricants Packaging Facility
TERMINALLING & STORAGE Martin Lubricants Packaging Facility
Slide 16: Natural Gas Services Overview
NATURAL GAS SERVICES OVERVIEW
Slide 17: Natural Gas Storage: Cardinal Gas Storage Facilities
NATURAL GAS STORAGE Cardinal Gas Storage Facilities Cadeville Main Facility Perryville Main Facility Monroe Main Facility
Slide 18: Sulfur Services Overview
SULFUR SERVICES OVERVIEW MMLP has an integrated system of sulfur transportation assets and facilities. MMLP gathers molten sulfur from refiners, primarily located on the Gulf Coast, and from natural gas processing plants, primarily located in the Southwestern U.S. Molten sulfur is either marketed to
Slide 19: Sulfur Services: Prilled Sulfur
SULFUR SERVICES Prilled Sulfur
Slide 20: Marine Transportation Overview
MARINE TRANSPORTATION OVERVIEW
Slide 21: Marine Transportation: Marine Assets
MARINE TRANSPORTATION Marine Assets
Slide 22: Appendices
APPENDICES 22
Slide 23: Adjusted EBITDA by Segment as of 9/30/15
ADJUSTED EBITDA BY SEGMENT AS OF 9/30/15 $ millions Operating Income Depreciation and Amortization (Gain) Loss on Disposition/Sale of Property, Plant, and Equipment Non-cash Mark-to-Market on Derivatives Distributions from Unconsolidated Entities Adjusted EBITDA “” “excludes unallocated SG&A of $12.
Slide 24: Adjusted EBITDA by Segment 2014 and 2013
ADJUSTED EBITDA ADJUSTED EBITDA BY SEGMENT AS OF 12/31/14 TERMINALLING 2 SULTUR NATURAL GAS MARNE = 49/31/14 $ millions STROAGE SERVICES SERVICES TRANSPORTATION Operating Income $27.0 $25.7 $30.6 $3.3 $86.6 Depreciation and Amortization $37.6 $8.2 $13.1 $9.9 $68.8 (Gain) Loss on Disposition/Sale of
Slide 25: Pro Forma Capitalization
$ millions LL Debt $700 million RCF Due 2018" Senior Secured Debt $400 million Senior Notes Due February 2021 Total debt Partners’ Capital Total Capitalization Market Capitalization Enterprise Value Credit Metrics Revolver Capacity™ Availability EBITDA2 Debt/EBITDA” Debt/Cap ‘Revolver downsized to $
Slide 26: Distribution Growth
DISTRUBUTION GROWTH Historical Per Unit Distributions (1) February 2003 through February 2015 – based on minimum quarterly distribution paid $2.00
Slide 27: Slide 27
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