Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — Q4 2014 Earnings Presentation
17 slides from Compania Sud Americana De Vapores's earnings presentation, March 2015
Slide 1: Fourth Quarter 2014 Results
Fourth Quarter 2014 Results March 2015
Slide 2: Agenda
Agenda 1. Restructuring Process and Transaction Result 2. Market Situation 3. Cash Position 4. Hapag-Lloyd Results 5. Outlook
Slide 3: 1. Restructuring Process and Transaction Result
1. Restructuring Process and Transaction Result
Slide 4: Restructuring Process
Restructuring Process • Capital Increases for US$ 2,6 bn (2011-2014) and • Routes optimization debt restructuring ̶ Eliminate unprofitable and uncompetitive Fleet Optimization routes. ̶ Asset structure appropriate for each route. ̶ Organic growth in markets with competitive Increase of percentage of
Slide 5: Milestones and Transaction Result
Milestones 2011 2013 2014 2-Sep 4-Dec 22-Jan 21-Mar 16-Abr 2-Dec 19-Dic CSAV inform in The company Sign of the Shareholders Sign of the Transaction CSAV suscribes a relevant confirms talks MOU approve the BCA Completed. CSAV for capital event the with HLAG transaction becomes the increase in seeking
Slide 6: 2. Market Situation
BICSAV 2. Market Situation EICSAV
Slide 7: Containership Fleet
Containership Fleet Graph 1: Orderbook / Fleet: 17.7% (March 2015) Graph 2: Idle Fleet: 242,000 TEU or 1.3% (March 2015) Fleet Orderbook Orderbook to Fleet Ratio Idle Fleet % of Total Fleet 20 90% 1.600 16% 18 80% 1.400 14% Idle Capacity in Th. Teus 16 70% 1.200 12% Orderbook/Fleet 14 % of Total Fle
Slide 8: Market Evolution
Market Evolution Graph 4: SCFI vs Rotterdam Platts SCFI -RTM Margin Rotterdam Platts SCFI 1.800 Average Margin Average Margin Average Margin Average Margin Average Margin 2010 = 918 2011 = 392 2012 = 605 2013 = 480 2014 = 536 1.600 1.400 1.200 1.000 800 600 400 200 0 Dec-09 Dec-10 Dec-11 Dec-12 Dec-
Slide 9: 3. Cash Position
BICSAV 3. Cash Position EICSAV
Slide 10: Cash Position
Cash Position Graph 6: Cash Position (USD million) 231,3 164,7 167,3 45,7 -54,7 -56,4 -2,9 -86,6 -243,1 -73,8 Cash 30-Sep- EBITDA Working Cash Capital Capital Net Capex Net Debt Interest Cash 31-dic-14 14 Capital and transfered to Increase in Increase in Others* Hapag-Lloyd CSAV Hapag-Lloyd * Workin
Slide 11: 4. Hapag-Lloyd Results
BICSAV 4. Hapag-Lloyd Results EICSAV
Slide 12: Relevant notice
Relevant notice From December of 2014, CSAV container shipping activities were merged with the German company Hapag-Lloyd. Therefore, CSAV container shipping activities have been unconsolidated as of 30 November 2014 and prior year comparisons are possible only to a limited extent. From December of
Slide 13: Hapag-Lloyd 2014 Result – Executive Summary
Hapag-Lloyd 2014 Result – Executive Summary Operating performance in 2014 clearly below previous year – dissatisfying result caused by persistently strong competition and one-off expenses Key highlight in 2014 was the merger of Hapag-Lloyd and CSAV container shipping activities – “New” Hapag-Llo
Slide 14: 5. Outlook
BICSAV 5. Outlook EICSAV
Slide 15: Outlook
Outlook Avg. Margin ‘15 = 730 Graph 7: SCFI vs Rotterdam Platts SCFI -RTM Margin Rotterdam Platts SCFI 1.800 Avg. Margin ‘10 = 918 Avg. Margin ‘11 = 392 Avg. Margin ‘12 = 605 Avg. Margin ‘13 = 480 Avg. Margin ‘14 = 536 1.600 1.400 1.200 1.000 800 600 400 200 0 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-
Slide 16: Outlook
Outlook The activity of the last months of 2014, as well as the one of the beginning of 2015, which to a large extent will explain the results of CSAV for the first quarter, it has been characterized by a significant drop in the cost of bunker. As it visible from the evolution of the Shanghai Co
Slide 17: Disclaimer
Disclaimer This presentation provides general information about Compañía Sud Americana de Vapores S.A. (“CSAV”). It consists of summary information and does not purport to be complete. It is not intended to be relied upon as advice to potential investors. No representations or warranties, express or
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