Stolt-nielsen Limited · OSL:SNI
Stolt-nielsen — Investor Presentation (April 2024)
17 slides from Stolt-nielsen's investor presentation, April 2024
Slide 1: Investor Presentation April 2024
INVESTOR PRESENTATION APRIL 2024 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Included in this presentation are various “forward-looking statements”, including statements regarding the intent, opinion, belief or current expectations of the Company or its management with respect to, among other things, (i) goals and strategies, (ii) plans for new dev
Slide 3: SNL at a Glance | A Leading Liquid Logistics Provider
SNL at a Glance | A Leading Liquid Logistics Provider $2.8bn $853m $2.6bn $5.6bn c.6,850 3/4 5 6 LTM Revenue LTM EBITDA Market Cap Assets Employees LIQUID LOGISTICS SUPPLY CHAIN SOLUTIONS AQUACULTURE INVESTMENTS Tankers Terminals Tank Containers Sea Farm Investments5 >160 ~5.0m ~51,000 14 47.2% in A
Slide 4: Stolt-Nielsen | Integrated, Agile Bulk Liquid Logistics Solutions
Stolt-Nielsen | Integrated, Agile Bulk Liquid Logistics Solutions Our logistics businesses provide seamless supply chain solutions PHYSICAL SHIPPING, TRANSPORT AND STORAGE OF PRODUCT Land carriers Arrange rail, ISO trucks, tank trucks Stolt Tank Containers IT solutions STC information portal, online
Slide 5: Attractive Value Generation
Attractive Value Generation STRONG OPERATIONAL EXECUTION A LEADING END-TO-END LOGISTICS PROVIDER with favourable market fundamentals serving significant end-markets STOLT STOLTHAVEN STOLT STOLTHAVEN GLOBAL CHEMICAL TANKERS TERMINALS TANKERS TERMINALS SUPPLY CHAIN COSTS5 ▪ 1Q24 TCE 51% higher than 20
Slide 6: Stolt-Nielsen is Delivering on Years of Focused Strategy
Stolt-Nielsen is Delivering on Years of Focused Strategy REVENUE GROWTH (USDm) PROFITABILITY (EBITDA USDm)1 Robust revenue growth as SNL has capitalised on tightening freight markets… … becoming a more profitable organisation in the process CAGR CAGR (‘18-23) Margin: 21.5% 24.8% 24.6% 25.8% 30.7% (‘
Slide 7: 1Q24 SNL Highlights | Strong Start to 2024
1Q24 SNL Highlights | Strong Start to 2024 1Q24 vs. 1Q23 vs 4Q23 OPERATING REVENUE EBITDA PERFORMANCE DRIVERS p p $ 707.3m $ 210.3m TCE / OP. DAY(3) (US$) UTILISATION(4) (%) $ 708.7m (-0.2%) $ 213.2m (-1.3%) p +3.0% p -5.1% $ 695.2m (+1.7%) $ 216.7m (-3.0%) 29,066 29,944 97.3% 92.3% OPERATING PROFIT
Slide 8: Stolt Tankers | Increasing Spot Rates Expected to Impact Q2
Stolt Tankers | Increasing Spot Rates Expected to Impact Q2 DEEPSEA CHEMICAL INDEX TCE / OPERATING DAY(1/2) 2Q24 Indicative 250.0 $34,000 6 to 8% Increase250 $32,000 Lag Effect $29,944 200.0 $30,000 200 $28,000 150.0 $26,000 150 $24,000 100.0 100 $22,000 $20,000 50.0 50 $18,000 0.0 $16,000 0 Mar-21
Slide 9: Market Outlook | Favourable Market Fundamentals
Market Outlook | Favourable Market Fundamentals SEABORNE TRADE EXPECTED TO INCREASE RATES REBOUND – LIMITING SWING TONNAGE 50 +2.9% 1Y TC Rates 19,999 dwt ($/Day) 10.0% 20 45 Average MR Earnings ($/Day) increase expected in 2024 398 400 386 40 375 35 15 8.0% 30 25 350 10 20 6.0% 15 Seaborne Trade (m
Slide 10: Market Outlook | Drivers Supporting Attractive Freight Rates
Market Outlook | Drivers Supporting Attractive Freight Rates FREIGHT RATE KEY DRIVERS ANNUAL AVERAGE HAUL DEVELOPMENT (INDEX 2015) 114 1 p Volumes 112 110 2 Voyage Distances p 108 106 104 3 p Supply 102 100 4 CPP Market Sentiment p 98 2015 2016 2017 2018 2019 2020 2021 2022 2023 (1) 2024E ▪ Volumes
Slide 11: Significant Progress on our Environmental Ambitions
Significant Progress on our Environmental Ambitions STOLT TANKERS CARBON INTENSITY (AER)(1) SUSTAINABILITY HIGHLIGHTS A further ▪ Two newbuilding orders totalling 12 stainless-steel We are ships, designed to maximise efficiency and include 31.6% 18.4% shore power and methanol readiness improvement i
Slide 12: Share Price & P/E Development vs Peers
Share Price & P/E Development vs Peers INDEXED SHARE PRICE DEVELOPMENT SINCE SEPTEMBER 2023(1) 180 173.77 160 Indexed to SNI 140 143.01 120 118.65 100 80 60 01-Sep-23 01-Oct-23 01-Nov-23 01-Dec-23 01-Jan-24 01-Feb-24 01-Mar-24 01-Apr-24 SNL Tankers Peers 3 Logistics Peers 3 P/E RATIO DEVELOPMENT SIN
Slide 13: Concluding Remarks
Concluding Remarks POSITIVE 2024 OUTLOOK CASH FLOWS FOR EARNINGS AND RETURNS ▪ TCE expected to reach historic high levels ▪ Balance sheet strength – new RCF and concluded on MSC Flaminia ▪ Improved pricing and utilisation in 2H24 as we optimise our contract portfolio ▪ Targeted investments across ea
Slide 14: Thank You
THANK YOU
Slide 15: Financials | Summary Income Statement
Financials | Summary Income Statement Quarter Figures in USD millions 1Q24 4Q23 1Q23 HIGHLIGHTS (1Q24 vs 1Q23) ▪ Revenue in line with previous year, with strong growth in Stolt Operating Revenue $707.3 $695.2 $708.7 Tankers, Stolthaven Terminals and Stolt Sea Farm offset by Operating Expenses (453.0
Slide 16: Financials | Cash Flow and Liquidity Position
Financials | Cash Flow and Liquidity Position Quarter Figures in USD millions 1Q24 4Q23 1Q23 HIGHLIGHTS (1Q24 vs 1Q23) ▪ Cash from operating activities decreased due to lower Cash generated from operations $173.1 $340.0 $176.8 earnings from Stolt Tank Containers Interest paid (29.1) (26.8) (28.3) De
Slide 17: Robust Financial KPIs with Significant Headroom
Robust Financial KPIs with Significant Headroom DEBT TO TANGIBLE NET WORTH (MAXIMUM 2.25:1.00) EBITDA TO INTEREST EXPENSE (MINIMUM 2.00:1.00) 3,500 1.2 900 5.85 5.73 5.91 5.81 LTM EBITDA-to-Interest Expense 1.07 1.07 5.54 6.0 1.01 1.00 $770 0.93 800 3,000 1.0 $690 $711 $708 $673 5.0 700 Debt-to-TNW