Kawasaki Kisen Kaisha, Ltd. · TSE:9107
Kawasaki Kisen Kaisha — FY2013 Earnings Presentation
34 slides from Kawasaki Kisen Kaisha's earnings presentation, April 2014
Slide 1: Supplementary Report - Fiscal Year 2013
Supplementary Report - Fiscal Year 2013 - April 2014 Kawasaki Kisen Kaisha LTD
Slide 2: Shipping Markets, Financial Data, Historical Data
1. Shipping Markets 2. Financial Data 3. Historical Data - For 5 Years -
Slide 3: Supplemental Information 1 - Shipping Markets
Supplemental Information -1 - Shipping Markets-
Slide 4: K Line Container Loading Volume/Load Factor
1-1. “K” Line Container Loading Volume/Load Factor Loading Volume 12F1Q 12F2Q 12F1H 12F3Q 12F4Q 12F2H 12FY 13F1Q 13F2Q 13F1H 13F3Q 13F4Q 13F2H 13FY (Unit:1,000TEU) Asia/N.America E/Bound 184 212 395 199 171 370 766 194 210 405 198 174 372 777 W/Bound 106 118 224 114 110 224 449 108 107 215 123 112 2
Slide 5: Line/Alliance wise Vessel/Capacity Comparison
1-2. Line/Alliance wise Vessel/Capacity Comparison Top 30 Container Carriers ranked by operating capacity as of April 2014 TOTAL Rank Operator TEU 1 APM-Maersk 2,608,176 2 Mediterranean Shg Co 2,426,077 3 CMA CGM Group 1,506,139 4 Evergreen Line 874,892 5 COSCO Container L. 766,094 APM-Maersk 6 Hapa
Slide 6: K Line Container Volume & Share (Asia to North America)
1-3. “K” Line Container Volume & Share (Asia to North America ’01-’13 ) 5
Slide 7: K Line Container Volume & Share (North America to Asia)
1-4. “K” Line Container Volume & Share (North America to Asia ’01-’13 ) 6
Slide 8: K Line Container Volume & Share (Asia to Europe)
1-5. “K” Line Container Volume & Share (Asia to Europe ’01-’13 ) 7
Slide 9: K Line Container Volume & Share (Europe to Asia)
1-6. “K” Line Container Volume & Share (Europe to Asia ’01-’13) 8
Slide 10: Trend of Average Container Freight/Volume
1-7. Trend of Average Container Freight/Volume (“K” Line All Trades) （2004F-2013F4Q） Volume (1000 Average Freight($) TEU) 1000 1,600 1,403 1,440 1,337 1,323 1,349 1,301 1,299 1,315 900 865 1,283 1,315 871 1,242 1,249 1274 1,220 825 859 1,012 1,283 1,235 793 768 846 1310 1,400 804 763 810 833 811 1,2
Slide 11: Dry Bulk Market
1-8. Dry Bulk Market Dry Bulk Market (BDI) 10
Slide 12: Tanker Market
1-9. Tanker Market Tanker Market (VLCC AG/JPN) 11
Slide 13: Cars/Trucks Transported by K Line PCTC Fleet
1-10. Cars/Trucks Transported by “K” Line PCTC Fleet 10,000units 100 90 91 86 84 86 81 84 82 82 78 78 77 80 73 76 75 71 66 63 60 45 39 40 20 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2009F 2010F 2011F 2012F 2013F Japan・FE/North America Japan・FE/Europe Japan・FE/The Other Area Trad
Slide 14: K Line Vessel Fleet Composition
1-11. “K” Line Vessel Fleet Composition 600 Total 566 Total 583 Coastal /Ferry 50 Heavy Lifters Coastal /Ferry 53 2013 March 16 ships 500 Energy Resource 2014 March 16 ships Energy Resource 66 67 400 PCTC 98 PCTC 95 Offshore Energy E&P Support ship 2013 March 8 ships 300 2014 March 8 ships 200 Bulk
Slide 15: K Line Container Vessel Fleet Composition
1-12. “K” Line Container Vessel Fleet Composition 14
Slide 16: K Line Bulk Carrier Fleet Composition
1-13. “K” Line Bulk Carrier Fleet Composition Total 252 Total 271 300 280 Chip + Pulp 10 260 Chip + Pulp 13 Small Handy 26 240 Small Handy 22 220 Handymax 50 200 Handymax 50 180 160 Panamax 56 Panamax 42 140 120 Over Panamax 26 Over Panamax 30 100 80 60 Capesize 99 Capesize 99 40 20 0 2013 Mar 2014
Slide 17: K Line PCTC Fleet Composition
1-14. “K” Line PCTC Fleet Composition 16
Slide 18: Energy Transport Fleet, Offshore Support & Heavy Lifter Composition
1-15. “K” Line Energy Transport Fleet Composition, Offshore Energy E&P Support & Heavy Lifter Fleet Composition Total 91 Total 90 Drillship 2013 Mar 1 2014 Mar 1 CHEMICAL Tanker 2013 Mar 2 2014 Mar 3 Note: The number of LNG Carrier includes 23 vessels owned by SPC of the projects . 17 : The number o
Slide 19: Fleet Upgrading Plan
1-16. Fleet Upgrading Plan 2013F 2014F 2015F 2016F Already To be To be To be delivered delivered delivered delivered <Fleet Upgrading Plan> Containership 0 1 4 0 14000TEU 1 4 No. of Newbuildings during FY13-16 Dry Bulkers 23 9 10 1 Capesize 5 2 1 *Including vessels to be chartered from ship Panamax
Slide 20: K Line Group Composition of Fleet
1-17. “K” Line Group Composition of Fleet Mar 2014 Mar 2013 Owned Chartered Total Total Type of Vessel No. DWT(MT) No. DWT(MT) No. DWT(MT) No. DWT(MT) Contianerships 11 733,237 63 3,649,401 74 4,382,638 75 4,465,732 Dry Bulk Carriers 72 7,920,817 199 21,820,440 271 29,741,257 252 28,101,549 Car Carr
Slide 21: Supplementary Information 2 - Financial Data
Supplementary Information-2 - Financial Data -
Slide 22: Transition of Operating Revenues
2-1. Transition of Operating Revenues 21
Slide 23: Breakdown on Non-Operating, Extra-Ordinary Items (2013FY)
2-2. Breakdown on Non-Operating, Extra-Ordinary Items (2013FY) 1. Non-operating Income/Loss （billion yen） 13FY 1H 13FY 2H 13FY Consolidated Total 0.3 3.3 3.6 Financial Gain/Loss ▲ 3.6 ▲ 3.8 ▲ 7.5 Equity in Earnings of Affiliated Companies 1.5 1.3 2.8 Exchange Gain/Loss 2.0 4.4 6.3 Others 0.4 1.5 2.0
Slide 24: Supplemental Information 3 - Historical Data for 5 Years
Supplemental Information -3 Historical Data - For 5 Years -
Slide 25: Consolidated Revenues & Incomes
3-1. Consolidated Revenues & Incomes Consolidated Revenues & Incomes （billion yen） （billion yen） 1,400 80 1,200 60 40 1,000 20 800 0 600 09F 10F 11F 12F 13F ▲ 20 400 ▲ 40 200 ▲ 60 0 ▲ 80 Operating Revenues Operating Income Ordinary Income Net Income 24
Slide 26: Consolidated Total Assets/Shareholders' Equity
3-2. Consolidated Total Assets/Shareholders’ Equity Consolidated Total Assets/Shareholders’ Equity （billion yen） （multiple） 1,400 4.50 4.00 1,200 3.50 1,000 3.00 800 2.50 600 2.00 1.50 400 1.00 200 0.50 0 0.00 09F 10F 11F 12F 13F 25 Total Assets Shareholders Equity DER（Market Price Base）
Slide 27: Consolidated ROE / ROA
3-3. Consolidated ROE / ROA （billion yen） 60 Consolidated ROE / ROA 15% 40 10% 5% 20 0% 0 09F 10F 11F 12F 13F -5% -20 -10% -40 -15% -60 -20% -80 -25% Net Income（billion yen） Ordinary Income ROE ROA 26
Slide 28: Consolidated EV/EBITDA
3-4. Consolidated EV/EBITDA EV/EBITDA （billion yen） （multiple） 120 80 100 70 60 80 50 60 40 40 30 20 20 10 0 09F 10F 11F 12F 13F 0 ▲ 20 ▲ 10 ▲ 40 ▲ 20 ▲ 60 ▲ 30 27 EBITDA EV/EBITDA
Slide 29: Consolidated Assets Turnover
3-5. Consolidated Assets Turnover Consolidated Assets Turnover （billion yen） 1,400 1.20 1,200 1.00 1,000 0.80 800 0.60 600 0.40 400 200 0.20 0 0.00 09F 10F 11F 12F 13F 28 Operating Revenues Consolidated Assets Turnover
Slide 30: Ordinary Income on Revenues / on Total Assets
3-6. Consolidated Ordinary Income on Revenues / Ordinary Income on Total Assets Consolidated Ordinary Income on Revenues （billion yen） / Ordinary Income on Total Assets 60 6% 40 4% 2% 20 0% 0 09F 10F 11F 12F 13F -2% ▲ 20 -4% ▲ 40 -6% ▲ 60 -8% ▲ 80 -10% Ordinary Income Consolidated Ordinary Income on
Slide 31: Consolidated Interest Coverage Ratio
3-7. Consolidated Interest Coverage Ratio Consolidated Interest Coverage Ratio (multiple) （billion yen） 80 8 60 6 4 40 2 20 0 0 09F 10F 11F 12F 13F -2 ▲ 20 -4 ▲ 40 -6 ▲ 60 Operating Income Interest Coerage Ratio -8 30
Slide 32: Consolidated Net Income / Operating Cash Flow
3-8. Consolidated Net Income / Operating Cash Flow Consolidated Net Income / Operating Cash Flow （billion yen） 100 80 60 40 20 0 09F 10F 11F 12F 13F ▲ 20 ▲ 40 ▲ 60 ▲ 80 Net Income Operating Cash Flow 31
Slide 33: Consolidated Segment Information
3-9. Consolidated Segment Information （Unit: million yen） （Unit: million yen） 09F 10F 11F Operating Revenues Operating Revenues Marine Transportation 729,683 Containership Business 444,971 395,460 Freight Forwarting / 87,918 Bulk Shipping Business 447,111 463,507 Harbor Transportation Others 20,431
Slide 34: Non-Consolidated Financial Data
3-10. Non-Consolidated Financial Data （Unit: million yen） 09F 10F 11F 12F 13F Operating Revenues 631,747 772,321 737,994 834,217 954,427 Container 332,649 419,248 373,938 434,172 478,657 Bulk Carrier & Car Carrier 254,442 305,522 323,664 364,860 438,720 Energy Transportation 42,332 44,825 38,826 34,