Ocean Yield ASA — Investor Day (June 2016)
13 slides from Ocean Yield ASA's investor day presentation, June 2016
Slide 1: Aker Companies Investor Day
Aker Companies Investor Day June 2016
Slide 2: The dividend yield company
The dividend yield company Fleet Diversified fleet of modern fuel efficient vessels Employment All vessels on long term charter, avg. tenor of 10.2 years Growth Delivery of 13 newbuildings during 2016 and Q1 2017 Investments Target of USD 350m in annual new investments Dividend yield Dividend yield
Slide 3: Strong value proposition to our clients
Strong value proposition to our clients Leasing is an attractive alternative source of financing – Up to 100% leverage – Up to 15 years tenor – Floating or fixed interest rate – Purchase options – On- or off-balance sheet Flexible leasing product at a competitive cost of capital June 16 Aker Compani
Slide 4: Built-in growth from delivery of newbuildings with long term charters
Built-in growth from delivery of newbuildings with long term charters Total fleet will grow to 27 vessels by No of vessels 30 Q1 2017 25 20 15 10 5 0 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 June 16 Aker Companies Investo
Slide 5: New investments
New investments Investment criteria – Modern fuel efficient vessels – Long term charters – Multi segment strategy to diversify portfolio – Counterparties with strong financials Annual growth target of USD 350 million Increased deal flow in Q2 2016 with focus on – Chemical- and product tankers – Gas
Slide 6: Funding sources for future growth
Funding sources for future growth Several funding sources for future growth – Bank loans – Bonds – Equity – Bonds in American Shipping Company June 16 Aker Companies Investor Day 6
Slide 7: Newbuilding program fully funded
Newbuilding program fully funded* Bank financing exceeds remaining payments by USD 39m USD 462m USD 423m Remaining payments Bank Financing *As per Q1 2016 June 16 Aker Companies Investor Day 7
Slide 8: Diversified fleet of modern fuel efficient vessels
Diversified fleet of 27 modern fuel efficient vessels Product tankers 3 1 Chemical tankers 5 3 Car carriers 6 Gas carriers 3 Subsea construction 3 Offshore supply 2 # Delivered FPSO 1 # Newbuildings June 16 Aker Companies Investor Day 8
Slide 9: EBITDA backlog of USD 2.6bn with average tenor of 10.2 years
EBITDA* backlog of USD 2.6bn with average tenor of 10.2 years Charter backlog by counterparty Navig8 Product SBM Offshore AKOFS / Akastor Tankers 6% 15% 10% Reliance Industries Navig8 11% Chemical Tankers 16% EMAS AMC / Ezra Holdings 10% Hartmann SPVs / SABIC Höegh 12% Farstad Supply Autoliners 6% 1
Slide 10: Quarterly EBITDA and adjusted net profit
Quarterly EBITDA and adjusted net profit EBITDA per quarter (USDm) 55.6 55.4 54.2 53.9 55.2 56.0 56.4 56.6 58.7 52.7 53.2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2014 2015 2016 Adjusted net profit (USDm) 29.0 24.9 25.6 26.3 26.2 27.1 26.9 27.1 27.9 27.6 21.5 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2014
Slide 11: Cash dividends have increased for 10 consecutive quarters
Cash dividends have increased for 10 consecutive quarters Adjusted earnings per share (USD)2 Dividend yield 0.191 0.196 0.195 0.202 0.197 0.199 0.205 0.203 0.213 10.0%1 p.a. 10.5% 0.186 0.161 Pay-out ratio on Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 adjusted Q1 EPS 2013 2014 2015 2016 Dividend per share (US
Slide 12: Summary
Summary Expect to continue to increase portfolio of vessels – Delivery of newbuildings – New transactions ● Target growth of USD 350m per year Well positioned to continue paying attractive dividends – Strong financial position with newbuildings fully financed – All vessels on long-term charter ● EBI
Slide 13: June 16 Aker Companies Investor Day
June 16 Aker Companies Investor Day 13