Wallenius Wilhelmsen Asa · OSL:WAWI
Wallenius Wilhelmsen Asa — Wallenius Wilhelmsen Logistics — Q1 2017 Earnings Presentation
27 slides from Wallenius Wilhelmsen Asa's earnings presentation, May 10, 2017
Slide 1: Q1 Presentation
Q1 Presentation May 10th 2017 Craig Jasienski (President & CEO) Rebekka Glasser Herlofsen (CFO)
Slide 2: Today's Presenters
Today’s Presenters Craig Jasienski Rebekka Glasser Herlofsen President & CEO CFO • Number of years in industry: >30 years • Number of years in industry: >20 years • Born: 1969 • Born: 1970 • Key Experience: • Key Experience: – CEO, Eukor Car Carriers – CFO, The Torvald Klaveness Group – CEO, United
Slide 3: Agenda
Agenda Business Update Financial Performance Market and Business Outlook Summary and Q&A 3
Slide 4: Business Update
BUSINESS UPDATE by Craig Jasienski 4
Slide 5: Business update Q1 at a glance
Business Update Financial Performance Market and Business Outlook Summary and Q&A Business update Q1 at a glance… Merger moving ahead as per plan Volume and cargo mix shows positive development Main trades show positive development out of Asia Total fleet increased to 128 vessels, with one delivery
Slide 6: WWL ASA listed on Oslo Børs April 5th 2017
Business Update Financial Performance Market and Business Outlook Summary and Q&A WWL ASA listed on Oslo Børs April 5th 2017 - Merger received final regulatory approval on 1 April, and WWL ASA started trading on Oslo Stock Exchange April 5th - Organizational restructuring well underway, target to ha
Slide 7: A new and more efficient structure in place
Business Update Financial Performance Market and Business Outlook Summary and Q&A A new and more efficient structure in place… From a structure of jointly controlled entities... ...to an integrated and more efficient WWL structure Public Wilh. Public Wilh. Soya Group Wilhelmsen Wallenius Wilhelmsen
Slide 8: Strong Top Management Team with average +20 years experience
Business Update Financial Performance Market and Business Outlook Summary and Q&A Strong Top Management Team with average +20 years experience WWL ASA Senior Management Team WWL ASA Craig Jasienski President & CEO Jan Dahm-Simonsen1 Rebekka Glasser Herlofsen Organizational development & CFO HR Chris
Slide 9: Volume and cargo mix shows positive development
Business Update Financial Performance Market and Business Outlook Summary and Q&A Volume and cargo mix shows positive development Volume and Cargo Mix development Million CBM and % Comments Volume HH share of volumes • Ocean transported volumes down 2% q-o-q Million CBM % 22 35 mainly due to seasona
Slide 10: Positive development in export from Asia to Europe and NA q-o-q
Business Update Financial Performance Market and Business Outlook Summary and Q&A Positive development in export from Asia to Europe and NA q-o-q EU - ASIA Asia - EU Atlantic Shuttle -5% -5% 14% 6% 1% -3% 2.9 2.9 2.8 3.0 2.6 2.8 2.8 3.0 2.9 Q1 ’16 Q4 ’16 Q1 ’17 Q1 ’16 Q4 ’16 Q1 ’17 Q1 ’16 Q4 ’16 Q1
Slide 11: Total fleet is 128 vessels, with one delivery in Q1
Business Update Financial Performance Market and Business Outlook Summary and Q&A Total fleet is 128 vessels, with one delivery in Q1 Fleet development Comments CEU, # of vessels CEU ‘000 # of vessels • One Eukor vessel delivered 30th March 1,000 180 • No further CAPEX planned past five post 929 924
Slide 12: Continued positive developments for the landbased portfolio
Business Update Financial Performance Market and Business Outlook Summary and Q&A Continued positive developments for the landbased portfolio Landbased segment business update • Continued strong performance for technical services supported by stable volumes and high content value adding services for
Slide 13: Financial Performance
Financial Performance by Rebekka Glasser Herlofsen 13
Slide 14: WWASA – Profit & Loss
Business Update Financial Performance Market and Business Outlook Summary and Q&A WWASA – Profit & Loss WWASA Profit & Loss1 USD million Comments 2017 Q1 2016 Q4 2016 Q1 FY 2016 • Total operating income adjusted for non Operating income 439 450 432 1,751 recurring items and “Treasure ASA” slightly G
Slide 15: WWASA – Ocean segment
Business Update Financial Performance Market and Business Outlook Summary and Q&A WWASA – Ocean segment Total income and EBITDA ocean segment1 USD million Comments Total income EBITDA • Ocean income adjusted for non recurring items declined 3% q-o-q, but stable y-o-y Non recurring items -1% -3% • EB
Slide 16: WWASA – Landbased segment
Business Update Financial Performance Market and Business Outlook Summary and Q&A WWASA – Landbased segment Total income and EBITDA landbased segment1 USD million Comments Total income EBITDA • Landbased income adjusted for non recurring items and “Treasure ASA” was stable q-o-q, but Non recurring i
Slide 17: WWL ASA pro-forma balance sheet year-end 2016
Business Update Financial Performance Market and Business Outlook Summary and Q&A WWL ASA pro-forma balance sheet year-end 2016 Unaudited Pro-forma Balance Sheet WWL ASA IFRS, 20161 USD billion Comments ASSETS EQUITY & LIABILITIES • Net interest bearing debt per 31.12.2016 of ~3.1bn USD, of which ca
Slide 18: WWL ASA debt overview year-end 2016
Business Update Financial Performance Market and Business Outlook Summary and Q&A WWL ASA debt overview year-end 2016 WWL ASA group interest bearing debt 20162) USD billion Comments 3.9 • Bank loans are the “base funding” of the WWL 3.1 ASA fleet Wilhelmsen Lines AS, Wallenius Lines AB or the resp
Slide 19: New dividend policy was approved by the Board May 9th
Business Update Financial Performance Market and Business Outlook Summary and Q&A New dividend policy was approved by the Board May 9th DIVIDEND POLICY “Wallenius Wilhelmsen Logistics ASA’s (“WWL ASA”) objective is to provide shareholders with a competitive return over time through a combination of
Slide 20: WWL ASA – What can you expect for Q2 reporting?
Business Update Financial Performance Market and Business Outlook Summary and Q&A WWL ASA – What can you expect for Q2 reporting? • Opening balances as per April 5th 2017 and Balance sheet as per Q2 2017 INVESTOR RELATIONS POLICY • Comparable pro-forma P&L for Q2 2016 “Wallenius Wilhelmsen Logistics
Slide 21: Market and Business Outlook
Market and Business Outlook by Craig Jasienski 21
Slide 22: Total light vehicle sales in the first quarter increased by 4% y-o-y
Business Update Financial Performance Market and Business Outlook Summary and Q&A Total light vehicle sales in the first quarter increased by 4% y-o-y Global auto sales development forecast Global auto sales per main sales region1 Million units, 2016-2021E CAGR 2016-2021, CAGR Q1’17 vs Q1’16 CAGR ’1
Slide 23: Positive outlook for all main High & Heavy segments
Business Update Financial Performance Market and Business Outlook Summary and Q&A Positive outlook for all main High & Heavy segments Improving outlook for mining shipments Continued solid growth for construction Down-cycle about to turn for Agriculture 000s, 2005-2020E1 2007-2020E2 CEMA business ba
Slide 24: Moderate net fleet growth forecasted going forward
Business Update Financial Performance Market and Business Outlook Summary and Q&A Moderate net fleet growth forecasted going forward 4% of fleet are recycling candidates… ..contributing to moderate net fleet growth Fleet by year of build, 1000 CEU Forecasted net fleet growth, % p.a. 45-50 firm vesse
Slide 25: Board view
Business Update Financial Performance Market and Business Outlook Summary and Q&A Board view Market outlook Business Outlook «In mature markets, auto sales are expected to be relatively flat «The board expects that the merger will have positive impact on while the outlook for the emerging markets ar
Slide 26: Q&A
Q&A by Craig Jasienski and Rebekka Glasser Herlofsen 26
Slide 27: Thank you!
WALLENIUS WILHELMSEN LOGISTICS ASA Thank you!
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