Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — FY2017 Earnings Presentation
19 slides from Compania Sud Americana De Vapores's earnings presentation, Apr 4, 2018
Slide 1: Investor Presentation FY 2017 Results
Investor Presentation FY 2017 Results April 4, 2018
Slide 2: 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
Slide 3: Agenda
Agenda 1. Highlights 2. Market Overview 3. FY 2017 Results 4. Outlook
Slide 4: Highlights
Highlights The merger between HLAG and UASC was successfully completed on May 24, 2017. – CSAV diluted its share in HLAG from 31.4% to 22.6%. – The dilution generated an accounting loss for CSAV of US$ 167.2 M (non‐recurring), as synergies were not included in the valuation under applicable IFRS s
Slide 5: Market Overview
Market Overview Extracted from HLAG´s Investor Presentation FY 2017, available at https://www.hapag‐lloyd.com/en/ir.html 5
Slide 6: Market Overview: SCFI vs Rotterdam Platts
Market Overview SCFI vs Rotterdam Platts (March 2018) Margen SCFI ‐ RTM (1) Rotterdam Platts SCFI (2) 1.400 1.200 1.000 800 Avg. Margin Avg. Margin 2013 = 480 2014 = 536 600 Avg. Margin Avg. Margin 2017 = 522 2015 = 468 Avg. Margin 400 2016 = 436 200 0 ene‐13 mar‐13 may‐13 jul‐13 sep‐13 nov‐13 ene‐1
Slide 7: Market Overview: Carrier capacity
Market Overview Carrier capacity [TEU m] Global capacity share [%] Extracted from HLAG´s Investor Presentation FY 2017, available at https://www.hapag‐lloyd.com/en/ir.html 7
Slide 8: FY 2017 Results: CSAV Net Income 2016 vs 2017
FY 2017 Results: CSAV Figures in USD million CSAV Net Income 2016 vs 2017 Container Transport Segment CSAV Net Income Other Transport Equity‐Accounted Dilution Accounting Badwill Defered Taxes GAE & Others CSAV Net Income 2016 Services Segment Investees (HLAG) Loss 2017 19.9 4.4 (23.3) (151,4) 14.8
Slide 9: FY 2017 Results: CSAV
FY 2017 Results: CSAV Figures in USD million 2017 Q4 Q3 Q2 Q1 YoY QoQ 2016 Q4 M US$ M US$ M US$ M US$ M US$ M US$ M US$ M US$ M US$ Operating revenue 109.9 27.8 31.0 28.5 22.6 0.6 (2.6) 109.3 30.4 Operating cost (102.6) (26.5) (27.7) (27.6) (20.8) 3.3 (27.7) (105.9) (26.9) Gross margin 7.3 1.3 3.3 0
Slide 10: FY 2017 Results: CSAV Segments Results
FY 2017 Results: CSAV Segments Results Figures in USD million Other transport services 2017 Q4 Q3 Q2 Q1 YoY QoQ 2016 Q4 M US$ M US$ M US$ M US$ M US$ M US$ M US$ M US$ M US$ Operating revenue 109.9 27.8 31.0 28.5 22.6 0.6 (3.0) 109.3 30.8 Operating cost (102.6) (26.5) (27.7) (27.6) (20.8) 3.3 0.7 (1
Slide 11: FY 2017 Results: Hapag-Lloyd
FY 2017 Results: Hapag‐Lloyd EBITDA Margin, EBIT Margin and Net income trends 12.5% 10.6% 11.3% 7.9% 5.1% 5.4% 4.1% 1.6% 2016 2017 Q4 2016 Q4 2017 2016 2017 Q4 2016 Q4 2017 EBITDA Margin EBIT Margin Group profit / loss 2016 2017 Q4 2016 Q4 2017 35 46 28 Figures in USD million (103) 11
Slide 12: HLAG FY 2017: Profit reverting H1 loss
HLAG FY 2017: Profit of US$ 35 M, reverting H1 loss. Extracted from HLAG´s Investor Presentation FY 2017, available at https://www.hapag‐lloyd.com/en/ir.html 12
Slide 13: Balance Sheet Position
Balance Sheet Position (Figures in USD million) Assets December 2017 December 2016 Var Cash & cash equivalents 42.4 54.6 (12.2) Accounts receivables 20.0 20.9 (0.9) Inventories 3.2 4.3 (1.1) Other current assets 3.2 4.4 (1.2) Total current assets 68.8 84.2 (15.4) Equity accounted investees 1,932.3 1
Slide 14: Cash Position
Cash Position (Figures in USD million) Cash flow 2017 Initial cash position 54.6 Operating cash flow (12.9) Investing cash flow (288.6) Equity‐accounted investees (293.7) Non‐controlling interests & subsidiaries 0.2 PP&E 3.9 Interest & dividends received 1.0 Financing cash flow 288.3 Capital increas
Slide 15: Outlook
Outlook UASC commercial integration completed in November 2017, only 5 months after closing, with sizeable optimization measures already implemented in the areas of network and shipping systems during 2017. Ongoing fleet and network optimization to extract full impact of synergies. Main focus of
Slide 16: Annexes
Annexes BIICSAV
Slide 17: Hapag-Lloyd / UASC Merger Successfully Completed
Hapag‐Lloyd / UASC Merger Successfully Completed Extracted from HLAG´s Investor Presentation FY 2017, available at https://www.hapag‐lloyd.com/en/ir.html 17
Slide 18: Hapag-Lloyd's New Shareholder Structure
Hapag‐Lloyd’s New Shareholder Structure 1) CSAV Germany Container Holding GmbH 2) Kühne Maritime GmbH 3)Qatar Holding Germany GmbH 4) The Public Investment Fund of the Kingdom of Saudi Arabia Extracted from HLAG´s Investor Presentation FY 2017, available at https://www.hapag‐lloyd.com/en/ir.html 18
Slide 19: Hapag-Lloyd / UASC Merger: Expected Synergies
Hapag‐Lloyd / UASC Merger: Expected Synergies Extracted from HLAG´s Investor Presentation FY 2017, available at https://www.hapag‐lloyd.com/en/ir.html 19
Compañía Sud Americana de Vapores — FY2017 Earnings Presentation on 6ix