Pbf Energy Inc. · NYSE:PBF
Pbf Energy — Merger or Acquisition (July 2015)
8 slides from Pbf Energy's merger presentation, Jul 30, 2015
Slide 1: Chalmette Refining, LLC Acquisition Update
PBF Energy (NYSE: PBF) Chalmette Refining, LLC Acquisition Update July 30, 2015
Slide 2: Safe Harbor Statements
2 Safe Harbor Statements Statements in this presentation and made by management relating to future plans, results, performance, expectations, achievements and the like are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forwar
Slide 3: Transaction Overview
3 Transaction Overview June 18, 2015, PBF announced transaction to acquire Chalmette Refining, LLC for $322 million plus working capital Assets to be acquired include: 189,000 bpd Chalmette Refinery 100% MOEM Pipeline LLC (MOEM Pipeline and CAM Connection Pipeline) 80% of Collins Pipeline
Slide 4: Acquisition Highlights
4 Acquisition Highlights Immediately accretive to earnings Provides geographic diversification into PADD 3 and increases PBF’s refining capacity by 35% Expanded commercial and optimization opportunities Opportunity to improve crude slate economics Strong logistics connectivity for raw mate
Slide 5: PBF's Chalmette Anticipated EBITDA Improvements
5 $ in millions (except where noted) EBITDA(1) Acquisition Case $160 Commercial Optimization $55 – 70 Crude sourcing and product distribution optimization Refinery Optimization and Enhancements $30 - $45 Margin improvement initiatives focused on increasing high-value product yield combined with oper
Slide 6: Appendix
6 Appendix
Slide 7: Chalmette Projected Annualized Performance and Non-GAAP Reconciliation
7 $ in millions (except where noted) Chalmette Acquisition Case Annualized Performance Projected PBF Improvements Chalmette Projected Annualized Performance Net Income $66 $51 - $69 $117 - $135 Add: Depreciation and amortization expense 15 __** 15 Add: Interest expense 35 __** 35 Add: Income tax exp
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