Kawasaki Kisen Kaisha, Ltd. · TSE:9107
Kawasaki Kisen Kaisha — FY2008 Earnings Presentation
21 slides from Kawasaki Kisen Kaisha's earnings presentation, Apr 27, 2009
Slide 1: K Line Financial Results Briefing
IS KLINE 2009 3 2009 4 27
Slide 2: Contents
A. 2008 A-1 A-2 A-3 B. 2009 B-1 B-2 B-3 B-4 B-5 B-6 1
Slide 3: A. 2008 Results
IS KLINE A. 2008
Slide 4: A-1-1. Summary of results
A-1-1. 2008 2007 7,355 5,088 12,443 13,310 ▲ 867 -7% 12,800 ▲ 357 -3% 747 ▲ 31 716 1,296 ▲ 580 -45% 770 ▲ 54 -7% 751 ▲ 151 600 1,259 ▲ 659 -52% 670 ▲ 70 -10% 512 ▲ 188 324 830 ▲ 506 -61% 300 24 8% ¥13.5 ¥0.0 ¥13.5 ¥26.0 ▲¥12.5 -48% ¥13.5 ¥0.0 0% ¥105.66 ¥95.98 ¥100.82 ¥115.29 ▲¥14.48 -13% ¥100.21 ¥0
Slide 5: A-1-2. Results by segment
A-1-2. 2008 2007 3,148 2,153 5,301 5,998 ▲ 697 -12% 5,370 ▲ 69 -1% ▲ 59 ▲ 314 ▲ 373 47 ▲ 420 -886% ▲ 338 ▲ 35 10% 3,642 2,449 6,091 6,158 ▲ 67 -1% 6,314 ▲ 223 -4% 779 150 929 1,153 ▲ 223 -19% 973 ▲ 44 -4% 565 486 1,052 1,155 ▲ 103 -9% 1,116 ▲ 64 -6% 31 13 44 59 ▲ 15 -25% 35 9 25% 7,355 5,088 12,443
Slide 6: A-2. Factors in profit change
A-2. 867 659 • ▲ 133 0 ▲ 211 ▲6 ▲ 394 ▲ 78 • 14.5 150 ▲8 • 97 ▲ 191 15 • ▲8 ▲ 11 128 18 • ▲ 659 ▲ 70 • 5
Slide 7: A-3-1. Container shipping
A-3-1. 5,301 373 697 420 61 35 310.3 TEU 3.6% 0.5% • 14.5 • 97 • * +4.3% 17.7% 7.2% 4.3% 4.7% +28.2% +9.2% +34.9% +1.5% +13.0% * = 6
Slide 8: A-3-2. Dry bulk market
A-3-2. • 210.5 ( 4.0%) • 9 2 • 9 • 2007 2008 170 $100,500 $144,000 $122,250 $134,000 $12,000 $73,000 ▲ $49,250 ▲ 40.3% 74 $52,000 $67,000 $59,500 $52,000 $5,300 $28,650 ▲ $30,850 ▲ 51.8% 53 $43,000 $56,000 $49,500 $46,000 $5,600 $25,800 ▲ $23,700 ▲ 47.9% 7
Slide 9: A-3-3. Segment overview
A-3-3. iS KLINE . 306.9 ( 9.3%)
Slide 10: A-3-4. Tankers, LPG and Aframax
A-3-4. 2008 14 47 4,571 8.3% ( 2008 LPG 1 Aframax 2 LR 1 ) Aframax 2007 2008 (WS) VLCC ( / ) WS 60 WS 127 WS 94 WS 154 WS 63 WS 108 WS 14 14.9% Aframax ( / ) WS 137 WS 165 WS 151 WS 215 WS 118 WS 166 WS 15 9.9% 7 ( / ) WS 140 WS 157 WS 148 WS 271 WS 135 WS 203 WS 55 37.2% 9
Slide 11: A-3-5. Segment overview
A-3-5. – – – – – 10
Slide 12: B. 2009 Forecast
IS KLINE B. 2009
Slide 13: B-1. Forecast summary
B-1. 2009 2008 4,500 5,000 9,500 12,443 ▲ 2,943 -24% ▲ 50 210 160 716 ▲ 556 -78% ▲ 70 180 110 600 ▲ 490 -82% ▲ 60 125 65 324 ▲ 259 -80% ¥0.0 ¥2.5 ¥2.5 ¥13.5 ▲¥11.0 -81% ¥100.00 ¥100.00 ¥100.00 ¥100.82 ▲¥0.82 -1% $300 $300 $300 $504 -$204 -40% 2009 2.5 23 1 4.5 $10/MT 19 $300 $53 12
Slide 14: B-2. Forecast by segment
B-2. 2009 2008 2,080 2,160 4,240 5,301 ▲ 1,061 -20% ▲ 140 ▲ 80 ▲ 220 ▲ 373 153 -41% 1,900 2,260 4,160 6,091 ▲ 1,931 -32% 45 235 280 929 ▲ 649 -70% 520 580 1,100 1,052 48 5% 25 25 50 44 6 15% 4,500 5,000 9,500 12,443 ▲ 2,943 -24% ▲ 70 180 110 600 ▲ 490 -82% 13
Slide 15: B-3. Factors in profit change
B-3. 2,943 490 $504 $300 ¥100.82 ¥100.00 ▲3 520 ▲ 1,160 ▲ 180 310 7 16 ▲ 490 14
Slide 16: B-4-1. Container shipping forecast
B-4-1. 4,240 220 1,061 +153 313 TEU +0.9 +300 B-6-1 +380 * 17.4% 26.9% 13.3% 12.8% 20.7% 18.5% 15.4% 0.8% 9.2% 4.9% * = 15
Slide 17: B-4-2. Dry bulk market assumptions
B-4-2. 170 $20,000 $30,000 $30,000 $30,000 $73,000 74 $12,700 $12,500 $15,000 $13,750 $28,650 53 $10,000 $7,000 $8,000 $7,500 $25,800 16
Slide 18: B-4-3. Tanker market assumptions
B-4-3. (WS) VLCC ( / ) WS 33 WS 50 WS 57 WS 54 WS 108 Aframax ( / ) WS 65 WS 90 WS 100 WS 95 WS 166 7 ( / ) WS 55 WS 115 WS 120 WS 118 WS 203 17
Slide 19: B-5. Financial indicators
B-5. 2007 2008 2008 2008 2009 3 13,310 12,443 13,400 12,800 9,500 1,259 600 1,210 670 110 830 324 780 300 65 CF 1,412 776 620 610 348 394 418 444 CF 1,455 1,483 1,460 789 CF 43 707 840 3,558 3,348 4,260 3,206 3,327 3,297 4,396 4,313 4,590 37% 35% 37% 32% 37% ROE 24% 9% 9% 2% ROA 13% 6% 12% 7% 2% NET
Slide 20: B-6-1. Investment plan
B-6-1. ( ) 165 45 210 145 10 155 20 35 55 100 35 135 55 55 45 35 80 15 20 35 10 40 50 10 10 20 300 150 450 19
Slide 21: B-6-2. Fleet plan and Vision 100
B-6-2 ( ) 2008 2009 2010 2011 Vision (2009 ) 100 10 20 6 98 11 82 12 88 14 98 132 15 25 15 166 17 170 19 191 23 221 225 LNG 1 3 4 93 10 83 7 85 8 91 106 0 0 0 3 3 7 4 10 6 25 40 LNG 14 47 1 48 0 44 0 43 48 5 30 4 36 0 36 2 40 45 (2009 ) 3 18 0 17 0 14 0 16 18 15 2 52 0 57 0 57 0 60 60 49 504 43 496