Nmtp · RUS:NMTP
Nmtp — NCSP Group — Q1 2012 Earnings Presentation
19 slides from Nmtp's earnings presentation, Jun 22, 2012
Slide 1: First Quarter 2012 Financial Results Presentation
NCSP Group First Quarter 2012 Financial Results Presentation 22 June 2012 22 June 2012
Slide 2: Disclaimer
Disclaimer These materials are being supplied to you solely for your information and for use at a presentation by PJSC “Novorossiysk Commercial Sea Port” (the “Company”). These materials may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in w
Slide 3: Key Highlights
Key Highlights Operational performance – twice as fast as the market Highest quarterly total cargo turnover volumes in the Group’s history (41 million tonnes, +10.4% YoY) despite severe weather conditions in Novorossiysk causing cargo handling to be shut down for 14 to 30 days depending on perform
Slide 4: Operational performance
Section 1 Operational performance 3
Slide 5: Taking lead over the market
Section 1. Taking lead over the market Total cargo turnover of NCSP Group**, mln tonnes +10.4% +3.3% 37.2 39.6 40.4 39.8 41.1 21.5 20.6 20.5 18.9 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Total cargo turnover increased by 10.4% compared to Total cargo turnover change*
Slide 6: Strengthening positions in oil handling market
Section 1. Strengthening positions in oil handling market Oil handling, mln tonnes +5.2% (2.1%) 28.7 28.6 29.1 28.5 27.1 16.2 18.8 17.0 18.1 17.9 10.7 9.8 11.2 10.4 10.9 9.9 11.5 11.0 10.5 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 PTP NCSP NCSP Group monthly crude oil h
Slide 7: Oil products – record quarterly volumes
Section 1. Oil products – record quarterly volumes Oil products, mln tonnes +5.9% +42.5% 4.7 5.0 4.2 4.1 1.5 3.5 1.8 1.5 1.2 0.8 2.9 2.9 3.2 3.3 2.7 2.9 2.7 3.2 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 PTP NCSP NCSP oil products monthly volumes, mln tonnes Comments 2.0 The G
Slide 8: Grain – consistently high volumes
Section 1. Grain – consistently high volumes Grain, mln tonnes +3,273.5% (16.1%) 3.0 2.7 2.3 2.3 1.3 0.0 0.1 0.0 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 NCSP grain monthly volumes, mln tonnes Comments 1.4 1.2 YoY growth attributed to grain export ban removal from 1 July 201
Slide 9: Containers – volumes influenced by weather and temporary capacity limitations
Section 1. Containers – volumes influenced by weather and temporary capacity limitations Containers, ths TEU (2.5%) (0.4%) 160.9 145.6 153.0 149.8 149.2 133.7 117.7 122.0 40.8 36.8 46.2 40.1 53.1 37.8 42.3 50.8 106.8 120.1 113.0 109.1 92.5 96.0 75.4 71.1 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 20
Slide 10: General cargo: iron ore and timber
Section 1. General cargo Iron ore. Positioned for growth, ths tonnes Timber, ths tonnes 1,143 1,003 341 789 812 265 +8.5% 572 565 194 169 172 153 141 380 121 337 Q2Q2 2010 Q3Q3 2010 Q4Q4 2010 Q1Q1 2011 Q2Q2 2011 Q3Q3 2011 Q4Q4 2011 Q1Q1 2012 Q2 Q2 2010 Q3Q3 2010 Q4Q4 2010 Q1Q1 2011 Q2Q2 2011 Q3Q3 20
Slide 11: Metals: ferrous and non-ferrous
Section 1. Metals Ferrous metals. Strong growth, record volumes, mln tonnes Non-ferrous metals. Stable volumes, ths tonnes +32.6% +57.9% 318 Average volume: 284 ths tonnes 294 284 279 285 284 267 259 2.3 2.1 2.0 1.8 1.7 1.7 1.7 1.5 Q2Q2 2010 Q3Q3 2010 Q4Q4 2010 Q1Q1 2011 Q2Q2 2011 Q3Q3 2011 Q4Q4 201
Slide 12: Financial Performance
Section 2 Financial Performance 11
Slide 13: Key Financial Highlights
Section 2. Key Financial Highlights Q1 2012 Q4 2011 Change, Q1 2011 Change, Change, % Change, % ‘000 USD ‘000 USD ‘000 USD ‘000 USD ‘000 USD Revenue 274,678 267,498 7,180 2.7% 233,056 41,622 17.9% EBITDA 174,111 146,467 27,644 18.9% 117,641 56,470 48.0% EBITDA margin,% 63.4% 54.8% 50.5% Operating Ca
Slide 14: Revenue Reconciliation
Section 2. Revenue Reconciliation 290 3.13 1.38 1.35 274.68 36.35 (6.61) 6.02 270 250 233.06 USD mln 230 210 190 170 150 Revenue Grain Bunkering Additional port Fleet services Volumes, other Tariffs Revenue 3 months services and than grain and 3 months 2011 other sales bunkering 2012 Revenue Q1 2011
Slide 15: Improving cost management
Section 2. Improving cost management Cost of Services 3 months Change, Change, Improving Cost and SG&A Control (USD ‘000) 2012 2011 '000 USD % ▪ Q1 2012 cost of services of USD108 mln represents Fuel 36,340 45,770 (9,430) (21%) a 6% decrease vs Q1 2011 Depreciation and amortisation 21,091 19,317 1,7
Slide 16: EBITDA Reconciliation
Section 2. EBITDA Reconciliation(1) EBITDA Reconciliation(1) Improved EBITDA margin 180 1.13 0.40 174.11 3.74 2.63 170 13.85 63.4% 160 34.72 150 140 55.8% USD mln 130 54.8% 120 117.64 50.5% 110 100 48.0% 90 80 EBITDA Grain Revenue Bunkering Joint Cost of FOREX EBITDA Q1 2011 Q2 2011 Q3 2011 Q4 2011
Slide 17: Improving Cash Flow Generation and Gradual Decrease in Leverage
Section 2. Improving Cash Flow Generation and Gradual Decrease in Leverage Net cash generated by operating activities, USD mln Net Debt/LTM EBITDA +3.6x +18% 142.9 6.3 6.2 121.2 5.2 4.3 3.8 73.1 86.8 39.3 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Debt repayment
Slide 18: Appendix. Positive statistics
Appendix. Positive statistics Change Q1 2012 vs Q1 Change Q1 2012 vs Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 2011, ths tonnes Q1 2011, % Cargo turnover, total, ths tonnes 37,245 39,574 40,415 39,753 41,114 3,869 10.4% Liquid cargo, total 31,894 32,969 32,762 32,822 33,714 1,820 5.7% Crude oil 27,082
Slide 19: Thank you for your attention!
Thank you for your attention! Contacts: Mikhail Grigoriev Head of Investor Relations Tel: +7 (495) 771-6060 ext. 238 e-mail: MGrigoriev@nmtp.info Kristina Senko Press-centre Tel: + 7 (8617) 60-43-93, Fax: + 7 (8617) 61-21-40 e-mail: senko@ncsp-net.com 18