Irish Continental Group Plc · EURONEXT:IR5B
Irish Continental — H1 2020 Earnings Presentation
31 slides from Irish Continental's earnings presentation, Aug 27, 2020
Slide 1: 2020 Half Year Results Presentation
2020 Half Year Results Presentation 27th August 2020 Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 1
Slide 2: Half Year 2020 Performance Summary
Half Year 2020 Performance Summary Revenue • Revenue for the half year reduced by 21.6% to €130.8 million (2019: €130.8m €166.8 million). In the Ferries division revenue* decreased by 33.3% to €61.6 million (2019: €92.3 million) while in the Container and 2020 2019 -21.6% Terminal division revenue*
Slide 3: ICG Business Units
ICG Business Units Ferries Division Container & Terminal Division Irish Ferries, the leading ferry Eucon, the leading container shipping company operating between the operator between Ireland and the UK/Continent and the Republic of Continent. Dublin Ferryport Terminals Ireland. The division is also
Slide 4: Ferries Division
Ferries Division Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 4
Slide 5: Ferries Division - Routes
Ferries Division - Routes Weekly Sailings 2019 2020 Dublin - Holyhead Ulysses 28 28 Dublin Swift 28* 28* Epsilon / W.B. Yeats 26/28 26/28 82/84 82/84 Rosslare - Pembroke Isle of Inishmore 28 28 Total Ireland - UK 110/112 110/112 Ireland - France Epsilon / W.B. Yeats 6/7 6/7 Total Ireland-France 6/7
Slide 6: Ferries Division
Ferries Division Sailings 2019 Brand: Irish Ferries Owned: - 3 cruise ferries 6% Holyhead: 3,300 - 1 fast ferry 26% Sailings - 6 container ships 28% Pembroke: 1,400 Charter in: - 1 ropax ferry 66% Sailings 66% France: 300 Sailings Always On irishferries.com Strategic routes Our passenger booking web
Slide 7: Ferries Division
Ferries Division Car Market CAGR (Volumes) YTD July / H1 1 Year 3 Years 5 Years 10 Years 27 Years August 2020 2019 2016 – 2014 – 2009 – 1992 – 2019 2019 2019 2019 Irish Ferries -69% -74% -65% +2% -1% +1% +1% +2% Republic of Ireland -63% -1% -1% 0% -1% +1% All Ireland -57% -1% 0% 0% -1% +1% RoRo Mark
Slide 8: Ferries Division - Ship Chartering activities
Ferries Division -Ship Chartering activities Ship Chartering Revenue H1 2020 H1 2019 FY 2019 €m €m €m External 3.0 2.0 5.3 Internal 3.5 3.4 8.2 Total 6.5 5.4 13.5 • External charter revenues up €1.0 million due to a full six months charter of the MV Thetis and income on the deferred consideration fo
Slide 9: Ferries Division
Ferries Division H1 H1 Change FY 2019 2020 2019 €m €m €m Revenue* 61.6 92.3 -33.3% 212.4 Operating Costs (60.5) (72.6) -16.7% (145.2) EBITDA 1.1 19.7 -94.4% 67.2 Non-trading item - 14.9 114.9 Depreciation/Amortisation (16.4) (15.4) (30.8) Operating Profit (15.3) 19.2 51.3 • Passenger, Car & On-Board
Slide 10: Container & Terminal Division
Container & Terminal Division Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 10
Slide 11: Container & Terminal Division
Container & Terminal Division • 5 chartered vessels • 3,800 owned and leased containers, 7,400 teu (20ft, 40ft, 45ft, reefers, flats, curtain siders) • Operating between the Ports of Dublin, Cork and Belfast to Rotterdam and Antwerp • Door to Door (52%) Transport plus Quay to Quay (48%) feeder • DFT
Slide 12: Container & Terminal Division
Container & Terminal Division Irish Continental Group 2020 Half Year Results Presentation - 27th August 2020 12
Slide 13: Container & Terminal Division - Terminals
Container & Terminal Division - Terminals 2 strategically located container handling terminals at Dublin (DFT) and Belfast (BCT). • 150 year lease in Dublin from 1972 • Concession from Belfast Harbour Commissioners (BHC) • Annual throughput of 190,600 lifts extended for 6 years to 2026 (option with
Slide 14: Container & Terminal Division - Container Handling Ireland
Container & Terminal Division - Container Handling Ireland CAGR (Volumes) 1 Year 3 Year 5 Year 2019 2016-19 2014-19 ICG 3% 4% 11% ICG*Excl. Belfast 4% 5% 5% All Ireland 4% 4% 4% Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 14
Slide 15: Container & Terminal Division
Container & Terminal Division H1 H1 Change FY 2019 2020 2019 €m €m €m Revenue* 73.2 78.4 -6.6% 154.4 Operating Costs (64.3) (68.1) -5.6% (134.8) EBITDA 8.9 10.3 -13.6% 19.6 Depreciation/Amortisation (3.1) (3.0) (6.0) Operating Profit 5.8 7.3 -20.5% 13.6 • Container volumes down 11.7% at 155,700 teu.
Slide 16: Group
Group • Results • Fuel Costs • Cash Flow • Share Performance/Dividends/Share Buybacks • Net cash and available borrowing facilities • Current Trading/Outlook Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 Irish Continental Group 2020 Half Year Results Presentation – 2
Slide 17: Group - Results
Group - Results H1 2020 H1 2019 Change FY 2019 Revenue €130.8m €166.8m -21.6% €357.4m Operating Costs (exc. Dep) €120.8m €136.8m -11.7% €270.6m EBITDA €10.0m €30.0m -66.7% €86.8m Non-trading items - €14.9m €14.9m Operating Profit / (Loss) (€9.5)m €26.5m €64.9m Basic EPS (6.2)c 12.8c 31.7c Adjusted E
Slide 18: Group - Fuel Costs
Group - Fuel Costs H1 2020 H1 2019 Change FY 2019 Consumption (000 tons) Heavy Fuel Oil 35.9 42.6 -15.7% 88.3 Marine Diesel 14.8 16.9 -12.4% 31.7 50.7 59.5 -14.8% 120.0 Average Price (€ per ton) Heavy Fuel Oil €303 €395 -23.3% €363 Marine Diesel €387 €516 -25.0% €523 Brent Crude (guide) $42.0/€38.2
Slide 19: Group - Cash Flow
Group - Cash Flow H1 2020 €m H1 2019 €m FY 2019 €m EBITDA 10.0 30.0 86.8 Working Capital Movement 6.9 17.6 2.0 Pension Payments (0.6) (0.9) (1.3) Other (0.5) 1.4 2.0 Cash Generated from Operations 15.8 48.1 89.5 Interest paid (1.7) (1.6) (3.5) Tax (0.3) (0.7) (1.2) Purchases of property, plant and e
Slide 20: Group – Share Performance/Dividends/Share Buy Backs
Group – Share Performance/Dividends/Share Buy Backs ICG shares: Total return CAGR last 10 years to 31/12/19 17.3% Total return CAGR since flotation on 14/04/88 17.3% Cash Returned to Shareholders 2008 - 2019 Buyback/ Year Interim (Cent) Final (Cent) Total (Cent) €m Tender Offer €m 2008 Nil 10.0c 10.
Slide 21: Net Cash and Available Borrowing Facilities
Net Cash and Available Borrowing Facilities Latest Fixed Rate Facility Undrawn On-hand / drawn Maturity €m €m €m Cash - 132.5 132.5 Committed lending facilities: Bank overdrafts Annually Variable 15.4 15.4 - Revolving credit Up to 2024 Variable 75.0 75.0 - EIB Amortising Loan #1 2030 1.724% 75.0 - 7
Slide 22: Group - Current Trading/ Outlook
Group - Current Trading/ Outlook General • Covid 19 has had a material impact on our passenger business. • We have been encouraged by the strong performance of our freight business in both divisions, reflecting the vital lifeline nature of our service. • Any recovery in passenger traffic in unlikely
Slide 23: Appendix Fleet
Appendix Fleet Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 23
Slide 24: Appendix – Fleet
Appendix – Fleet Ulysses Year Built 2001 Cost €106m GT 50,938 tons PAX 1875 Cars 1342 Lane Meters 4.1km Speed 22 knots Route Dublin/ Holyhead Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 24
Slide 25: Appendix – Fleet
Appendix – Fleet Isle of Inishmore Year Built 1997 Cost €81m GT 34,031 tons PAX 2200 Cars 855 Lane Meters 2.1km Speed 21.5 knots Route Rosslare/ Pembroke Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 25
Slide 26: Appendix – Fleet
Appendix – Fleet Dublin Swift Year Built 2001 (refurbished 2018) Cost $13.25m GT 8,403 tons PAX 817 Cars 250 Speed 35 knots Route Dublin/ Holyhead from March-September Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 26
Slide 27: Appendix – Fleet
Appendix – Fleet W.B Yeats Delivery 2018 Cost (incl. Scrubber) €151m GT 50,000 tons PAX 1,885 Beds 1,706 Cars (Max) 1,216 Lane Meters (excl Car 2.8km Deck) Speed 22.5 knots Route Dublin/ Holyhead, Dublin/ France Irish Continental Group 2020 Half Year Results Presentation – 27th August 2020 27
Slide 28: Appendix – Fleet
Appendix – Fleet Ranger IMO 9322542 Built 2005 LOA 140.59 Breadth 21.8 GT 7,852 Dead Weight 9,300 Size TEU 803 TEU @ 14tns 518 Elbfeeder IMO 9388522 Built 2008 LOA 139.60 Breadth 22.0 GT 8,246 Dead Weight 11,157 Size TEU 974 TEU @ 14tns 580 Irish Continental Group 2020 Half Year Results Presentation
Slide 29: Appendix - Fleet
Appendix - Fleet CT Rotterdam IMO 9395575 Built 2009 LOA 139.60 Breadth 22 GT 8,273 Dead Weight 11,157 Size TEU 974 TEU @ 14tns 580 Thetis D IMO 9372274 Built 2009 LOA 168.11 Breadth 26.8 GT 17,488 Dead Weight 17,861 Size TEU 1,421 TEU @ 14tns 1,039 Irish Continental Group 2020 Half Year Results Pre
Slide 30: Appendix – Fleet
Appendix – Fleet Elbtrader IMO 9388534 Built 2008 LOA 139.60 Breadth 22.0 GT 8,246 Dead Weight 11,153 Size TEU 974 TEU @ 14tns 580 Elbcarrier IMO 9388510 Built 2007 LOA 139.60 Breadth 22.0 GT 8,246 Dead Weight 11,166 Size TEU 974 TEU @ 14tns 580 Irish Continental Group 2020 Half Year Results Present
Slide 31: Disclaimer
Disclaimer This presentation may contain certain forward-looking statements. These statements are made by the Directors in good faith based on the information available to them up to the time of their approval of this presentation. These forward-looking statements should be treated with caution due
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