Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — Q1 2015 Earnings Presentation
21 slides from Compania Sud Americana De Vapores's earnings presentation, May 2015
Slide 1: First Quarter 2015 Results
First Quarter 2015 Results May 2015
Slide 2: Agenda
Agenda 1. Highlights 2. Market Situation 3. First Quarter Results 4. Cash Position 5. Outlook
Slide 3: 1. Highlights
1. Highlights EIICSAV
Slide 4: Highlights
Highlights For the period ended March 31, 2015, CSAV reported a profit of MMUS$ 71, an improvement of MMUS$ 137 compared with the same period in 2014 when the company posted a net loss of MMUS$ 66 This positive result is mainly explained by the profit recorded by Hapag-Lloyd AG (HLAG) for the fi
Slide 5: 2. Market Situation
2. Market Situation EIICSAV
Slide 6: Containership Fleet
Containership Fleet Graph 1: Orderbook / Fleet: 18.6% (May 2015) Graph 2: Idle Fleet: 348,000 TEU or 1.8% (May 2015) Fleet Orderbook Orderbook to Fleet Ratio Idle Fleet % of Total Fleet 20 90% 1.600 16% 80% 1.400 14% Idle Capacity in Th. Teus 70% 1.200 12% Orderbook/Fleet 15 % of Total Fleet Million
Slide 7: Market Evolution: SCFI vs Rotterdam Platts
Market Evolution Graph 4: SCFI vs Rotterdam Platts SCFI -RTM Margin Rotterdam Platts SCFI 1.800 Average Margin Average Margin Average Margin Average Margin Average Margin Average Margin 2010 = 918 2011 = 392 2012 = 605 2013 = 480 2014 = 536 Q1´15= 712 1.600 1.400 1.200 1.000 800 600 400 200 0 Dec-11
Slide 8: Market Evolution: Vehicles Sales Evolution (Chile and Perú)
Market Evolution Graph 5: Vehicles Sales Evolution (Chile and Perú) Light Vehicles Heavy Vehicles 160 -20% 140 10 9 120 12 7 Thousand of Vehicles 100 80 134 129 60 116 104 40 20 0 Q1'12 Q1'13 Q1'14 Q1'15 Source: ANAC (Chile) and ARAPER (Perú) 8
Slide 9: 4. First Quarter Results
4. First Quarter Results EIICSAV
Slide 10: CSAV First Quarter 2015 Result
CSAV First Quarter 2015 Result USD million 2015 2014* ∆ ∆% Operating Revenue 72 98 (26) -27% Operating Cost (71) (91) 20 -22% Gross Margin 1 7 (6) -86% SG&A and Others (4) (5) 2 -30% Other Gains (0) 0 (0) - Operational Result (3) 1 (4) n/a Financial Result 1 1 (0) -3% Share of Profit (loss) of equit
Slide 11: Hapag-Lloyd Q1 2015 Result: Strategic Highlights
Hapag-Lloyd Q1 2015 Result(*) Strategic Highlights The integration process is on track, and a portion of the cost savings generated by these synergies has already been achieved in the first quarter of 2015 Project OCTAVE, which aims at improving efficiency and optimizing costs, showed initial su
Slide 12: Hapag-Lloyd Q1 2015 key figures
Transport volume [TTEU] 1,774 1,399 375 Freight rate [USD/TEU] 1,331 1,422 91 Bunker price [USD/t] 377 595 -218 Exchange rate [EUR/USD] 1.13 -0.24 Revenue (USD ml Ea ca aes 315 267 247 Investments [USD m]*) sat | ae | 225 1) Investments in PPE Source: Company information Revenue [EUR m] Q1 2013 Q1 2
Slide 13: Transport volume breakdown by trade
Transport volume [TTEU] Breakdown by ——s ccs!) 9, p 5% MHL 5,907 5 east-west trades ranspacific @ & 426 8% | 4,774 2013 2014 Q1 2015 tlantic east-west trades ranspacific >= 1,774 TTEU Far x = 1,399 TTEU 1) CSAV container shipping activities Source: Company information
Slide 14: Freight rate vs. bunker price
rate’) [USD/TEU] vs. bunker p! Bunker cost / TEU as share 20.9% (19.3% } 11.3% of freight rate [%] ; a 91 (-6.4%) ~ Freight rate 1,499 1.476 te 1,448 1409 | 1422 1,426 1,412 1,331 Adjusted for lower CCS freight rate, the HL freight rate was 1.9% down year-on-year at 1,395 USD /TEU 627 622 603 602 59
Slide 15: Transport expenses
Trans} expenses m] Ti rt expenses (1,490) (1,404 ) (4,840) +5.0% > re 0% I Raw materials 150 8.053 and supplies 7 7,669 , | Port, canal and terminal Chartering, a 207 leases and 1 container rentals | \1 5.1 %)/ Container C+7.1 al transport costs | ~ Maintenance/ repair/ other Q1 2015 mo 1,168 <——_—_
Slide 16: 4. Cash Position
4. Cash Position EIICSAV
Slide 17: Cash Position
Cash Position Graph 6: Cash Position (USD million) 163,3 72,8 45,7 -127,5 -2,8 -2,0 -3,4 -0,4 Cash 31-Dec-14 EBITDA Working Capital Net Capex Capital Increase Net Debt Interest & Cash 31-mar-15 and Others in CSAV Others 17
Slide 18: 5. Outlook
5. Outlook EIICSAV
Slide 19: Guidance for 2015
CSAV €€ Hapag-Lloyd Guidance for 2015 Largely unchanged Decreasing moderately Clearly increasing Clearly positive Remaining adequate 1) EBIT adjusted Source: Company information @ Guidance for 2015 based on pro-forma inclusion of CCS for 2014 — however, one-off volume and rate effects not taken into
Slide 20: Outlook: SCFI vs Rotterdam Platts
Outlook Graph 7: SCFI vs Rotterdam Platts SCFI -RTM Margin Rotterdam Platts SCFI 1.800 Avg. Margin ‘10 = 918 Avg. Margin ‘11 = 392 Avg. Margin ‘12 = 605 Avg. Margin ‘13 = 480 Avg. Margin ‘14 = 536 Avg. Margin 1.600 YTD‘15 = 602 1.400 1.200 1.000 800 600 400 200 0 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 D
Slide 21: Disclaimer
Disclaimer This presentation provides general information about Compañía Sud Americana de Vapores S.A. (“CSAV”). It consists of summary information and does not purport to be complete. It is not intended to be relied upon as advice to potential investors. No representations or warranties, express or
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