Kawasaki Kisen Kaisha, Ltd. · TSE:9107

Kawasaki Kisen Kaisha — Q3 FY2013 Earnings Presentation

34 slides from Kawasaki Kisen Kaisha's earnings presentation, January 2014

  1. Slide 1: Supplementary Report - 3rd Quarter FY2013

    Supplementary Report - 3rd Quarter FY2013 - January 2014 Kawasaki Kisen Kaisha, Ltd.

  2. Slide 2: Shipping Markets, Financial Data, Historical Data

    1. Shipping Markets 2. Financial Data 3. Historical Data - For 5 Years -

  3. Slide 3: Supplementary Information 1 - Shipping Markets

    Supplementary Information -1 - Shipping Markets-

  4. Slide 4: 1-1. "K" Line Container Loading Volume

    1-1. “K” Line Container Loading Volume Loading Volume 12F1Q 12F2Q 12F1H 12F3Q 12F4Q 12F2H 12FY 13F1Q 13F2Q 13F1H 13F3Q (Unit:1,000TEU) Asia/N.America E/Bound 184 212 395 199 171 370 766 194 210 404 198 W/Bound 106 118 224 114 110 224 449 108 107 215 123 290 330 620 313 281 594 1,214 302 318 620 321

  5. Slide 5: 1-2. Line/Alliance wise Vessel/Capacity Comparison

    1-2. Line/Alliance wise Vessel/Capacity Comparison Top 30 Container Carriers ranked by operating capacity as of January 2014 TOTAL Rank Operator TEU 1 APM-Maersk 2,592,694 2 Mediterranean Shg Co 2,362,854 3 CMA CGM Group 1,511,957 4 Evergreen Line 868,953 5 COSCO Container L. 768,089 APM-Maersk 6 Ha

  6. Slide 6: 1-3. Container Volume & Share (Asia to North America)

    1-3. “K” Line Container Volume & Share (Asia to North America ’03-’13) 5

  7. Slide 7: 1-4. Container Volume & Share (North America to Asia)

    1-4. “K” Line Container Volume & Share (North America to Asia ’03-’13 ) 6

  8. Slide 8: 1-5. Container Volume & Share (Asia to Europe)

    1-5. “K” Line Container Volume & Share (Asia (ex.India) to Europe ’03-’13, ) 7

  9. Slide 9: 1-6. Container Volume & Share (Europe to Asia)

    1-6. “K” Line Container Volume & Share (Europe to Asia (ex.India) ’03-’13 ) 8

  10. Slide 10: 1-7. Trend of Average Container Freight/Volume

    1-7. Trend of Average Container Freight/Volume (“K” Line All Trades) （2004F-2013F3Q） Volume (1000TEU) Average Freight($) 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 1,242 859 1,249 1,274 1,220 825 1,012 1,283 1,235 793 768 846 1,400 804 810 833 811 1,262 1,221

  11. Slide 11: 1-8. Dry Bulk Market

    1-8. Dry Bulk Market Dry Bulk Market (BDI) 10

  12. Slide 12: 1-9. Tanker Market

    1-9. Tanker Market Tanker Market (VLCC AG/JPN) 11

  13. Slide 13: 1-10. Cars/Trucks Transported by PCTC Fleet

    1-10. Transition of Cars / Trucks Transported by “K” Line PCTC Fleet 10,000units 100 90 91 86 86 84 84 81 82 82 78 78 80 76 75 71 73 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 2009F 2010F 2011F 2012F 2013F Japan・FE/North America Japan・FE/Europe Japan・FE/The Other

  14. Slide 14: 1-11. Vessel Fleet Composition

    1-11. “K” Line Vessel Fleet Composition 600 Total 566 Total 572 Coastal /Ferry 53 Coastal /Ferry 50 Heavy Lifters 2013 March 16 ships 500 Energy Resource Energy Resource 2013 Dec 15 ships 67 68 400 PCTC 95 PCTC 98 Offshore Energy E&P Support Ships 2013 March 8 ships 300 2013 Dec 8 ships 200 Bulk Car

  15. Slide 15: 1-12. Container Vessel Fleet Composition

    1-12. “K” Line Container Vessel Fleet Composition 2013 Mar 2013 Dec K 13 13 8,000TEU K 18 18 5,500TEU K 26 25 3,500TEU（3,400-4,700） K 2,800TEU(2,700-2,900) 2 2 K 2,000TEU（1,500-2,500） 13 13 K 1,400TEU or under 3 3 300m 200m 100m 0m Total 75 74 14

  16. Slide 16: 1-13. Bulk Carrier Fleet Composition

    1-13. “K” Line Bulk Carrier Fleet Composition Total 252 Total 259 260 Chip + Pulp 10 Chip + Pulp 13 240 Small Handy 19 Small Handy 22 220 200 Handymax 50 Handymax 50 180 160 Panamax 49 Panamax 42 140 120 Over Panamax 28 Over Panamax 26 100 80 60 Capesize 99 Capesize 103 40 20 0 2013 Mar 2013 Dec 15

  17. Slide 17: 1-14. PCTC Vessel Fleet Composition

    1-14. “K” Line PCTC Vessel Fleet Composition 2013 Mar 2013 Dec 6,000units 35 39 5,000units（4,750~5,650) 23 23 4,000units（3,800~4,600） 20 19 3,000units（2,800~3,500） 3 3 2,000units（1,600~2,500） 8 8 800units（800~850） 6 6 200m 100m 0m Total 95 98 16

  18. Slide 18: 1-15. Energy Resource Transportation, Offshore Support & Heavy Lifter Fleet

    1-15. “K” Line Energy Resource Transportation, Offshore Energy E&P Support & Heavy Lifter Fleet Composition 100 Total 91 Total 91 90 Drillship Heavy Lifters16 Heavy Lifters15 80 2013 Mar 1 2013 Dec 1 Offshore Support Vessel 7 Offshore Support Vessel 7 70 LPG Carrier 5 LPG Carrier 5 60 Tanker/CLEAN 4

  19. Slide 19: 1-16. Fleet Upgrading Plan

    1-16. Fleet Upgrading Plan 2013F 2014F 2015F 2016F <Fleet Upgrading Plan> Already To be delivered To be To be To be delivered by 3Q delivered delivered delivered No. of vessels to be received FY2013-2016 Containership 0 () 1 4 0 14000TEU 1 4 Dry Bulkers 23 (18) 8 10 1 FY2013 : 30 newbuildings to be

  20. Slide 20: 1-17. Group Composition of Fleet

    1-17. “K” Line Group Composition of Fleet Dec 2013 Mar 2013 Owned Chartered Total Total Type of Vessel No. DWT(MT) No. DWT(MT) No. DWT(MT) No. DWT(MT) Contianerships 10 668,214 64 3,745,122 74 4,413,336 75 4,465,732 Dry Bulk Carriers 70 7,587,946 189 21,823,485 259 29,411,431 252 28,101,549 Car Carr

  21. Slide 21: Supplementary Information 2 - Financial Data

    Supplementary Information-2 - Financial Data -

  22. Slide 22: 2-1. Transition of Operating Revenues

    2-1. Transition of Operating Revenues 21

  23. Slide 23: 2-2. Breakdown of Non-Operating, Extra-Ordinary Items

    2-2. Breakdown on Non-Operating, Extra-Ordinary Items (2013FY 3Q) 1.Non-operating Income/Loss （Billion yen） 13FY 1H 13FY 3Q Accumulated Consolidated Total 0.3 4.7 5.0 Financial Gain/Loss ▲ 3.6 ▲ 2.0 ▲ 5.6 Equity in Earnings of Affiliated Companies 1.5 0.7 2.2 Exchange Gain/Loss 2.0 5.3 7.3 Others 0.

  24. Slide 24: Supplemental Information 3 - Historical Data

    Supplemental Information -3 Historical Data - For 5 Years -

  25. Slide 25: 3-1. 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 08F 09F 10F 11F 12F ▲ 20 400 ▲ 40 200 ▲ 60 0 ▲ 80 Operating Revenues Operating Income Ordinary Income Net Income 24

  26. Slide 26: 3-2. 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 08F 09F 10F 11F 12F Total Assets Shareholders Equity DER（Market Price Base） 25

  27. Slide 27: 3-3. Consolidated ROE / ROA

    3-3. Consolidated ROE / ROA （billion yen） 80 Consolidated ROE / ROA 15% 60 10% 40 5% 20 0% 0 -5% 08F 09F 10F 11F 12F -20 -10% -40 -15% -60 -20% -80 -25% Net Income（billion yen） Ordinary Income ROE ROA 26

  28. Slide 28: 3-4. 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 08F 09F 10F 11F 12F 0 ▲ 20 ▲ 10 ▲ 40 ▲ 20 ▲ 60 ▲ 30 EBITDA EV/EBITDA 27

  29. Slide 29: 3-5. Consolidated Assets Turnover

    3-5. Consolidated Assets Turnover Consolidated Assets Turnover （billion yen） 1,400 1.40 1,200 1.20 1,000 1.00 800 0.80 600 0.60 400 0.40 200 0.20 0 0.00 08F 09F 10F 11F 12F Operating Revenues Consolidated Assets Turnover 28

  30. Slide 30: 3-6. Ordinary Income on Revenues / 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 80 8% 60 6% 40 4% 2% 20 0% 0 08F 09F 10F 11F 12F -2% ▲ 20 -4% ▲ 40 -6% ▲ 60 -8% ▲ 80 -10% Ordinary Income Consolidated Ordinary Inc

  31. Slide 31: 3-7. Consolidated Interest Coverage Ratio

    3-7. Consolidated Interest Coverage Ratio Consolidated Interest Coverage Ratio （billion yen） (multiple) 80 14 12 60 10 40 8 6 20 4 0 2 08F 09F 10F 11F 12F 0 ▲ 20 -2 -4 ▲ 40 -6 ▲ 60 Operating Income -8 Interest Coerage Ratio 30

  32. Slide 32: 3-8. 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 08F 09F 10F 11F 12F ▲ 20 ▲ 40 ▲ 60 ▲ 80 Net Income Operating Cash Flow 31

  33. Slide 33: 3-9. Consolidated Segment Information

    3-9. Consolidated Segment Information （Unit: million yen） （Unit: million yen） 08F 09F 10F 11F Operating Revenues Operating Revenues Marine Transportation 1,110,475 729,683 Containership Business 444,971 395,460 Freight Forwarting / 108,874 87,918 Bulk Shipping Business 447,111 463,507 Harbor Transpo

  34. Slide 34: 3-10. Non-Consolidated Financial Data

    3-10. Non-Consolidated Financial Data （Unit: million yen） 08F 09F 10F 11F 12F Operating Revenues 960,109 631,747 772,321 737,994 834,218 Container 497,388 332,649 419,248 373,938 434,172 Bulk Carrier & Car Carrier 414,964 254,442 305,522 323,664 364,860 Energy Transportation 45,766 42,332 44,825 38,

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