Royal Vopak Nv · EURONEXT:VPK
Royal Vopak Nv — Q1 2016 Earnings Presentation
21 slides from Royal Vopak Nv's earnings presentation, Apr 20, 2016
Slide 1: Interim Update Q1 2016 Results
INTERIM UPDATE Q1 2016 RESULTS ROYAL VOPAK JACK DE KREIJ, VICE-CHAIRMAN & CFO 20 APRIL 2016 – ANALYST PRESENTATION
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains ‘forward-looking statements’, based on currently available plans and forecasts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the
Slide 3: Key Topics
KEY TOPICS INTERIM UPDATE Q1 2016 LONG-TERM VALUE CREATION BUSINESS HIGHLIGHTS Q1 2016 KEY FIGURES OUTLOOK 2016 3 Analyst presentation Q1 2016 April 20, 2016
Slide 4: Long-Term Value Creation
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 LONG-TERM VALUE CREATION KEY ELEMENTS SUPPORTING OUR BUSINESS MODEL Focus on Strong capital risk-return structure with Stable margins and healthy Diversified and take-or-pay cash flow leverage portfolio contracts
Slide 5: FY Financial Development
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 FY FINANCIAL DEVELOPMENT Occupancy rate* EBITDA** In percent In EUR million 94 96 95 94 93 93 91 92 768 753 763 812 88 88 598 636 513 429 314 370 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 2016-2020 ’06 ’07 ’08 ’09 ’
Slide 6: Q1 2016 Business Highlights
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 BUSINESS HIGHLIGHTS RESULTS FULLY ALIGNED WITH THE OUTLOOK Terminal Revenues ** Network* -1% 0% vs. Q1 2015 vs. Q1 2015 33.7 348 In million cbm In EUR million Occupancy EBITDA *** Rate** +3pp +4% vs. Q1 20
Slide 7: Q1 2016 Occupancy Rate Exceeds 90%
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 OCCUPANCY RATE EXCEEDS 90% ALIGNED WITH 2016 OUTLOOK Occupancy rate* +3pp 90-95% 85-90% 92 93 94 94 88 88 91 91 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q1 Q2 Q3 Q4 Q1 2015 2016 *Subsidi
Slide 8: Sale of the UK Assets
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 SALE OF THE UK ASSETS STRENGTHENING VOPAK’S FLEXIBILITY TO EXECUTE ITS SELECTIVE CAPITAL DISCIPLINED GROWTH STRATEGY 3 WHOLLY-OWNED TERMINALS London, Teeside and Windmill (~700,000 cbm, <4% FY2015 EBITDA*) VOP
Slide 9: Q1 2016 Key Figures - Excluding Exceptional Items
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 KEY FIGURES -EXCLUDING EXCEPTIONAL ITEMS- ROBUST FINANCIAL RESULTS Revenues* EBITDA** In EUR million In EUR million +4% 0% 349.5 351.2 350.4 214.7 347.9 209.4 206.2 202.2 334.9 193.7 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q
Slide 10: Q1 2016 Key Figures - Including Exceptional Items
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 KEY FIGURES -INCLUDING EXCEPTIONAL ITEMS- SUPPORTED BY THE DIVESTMENT OF THE UK ASSETS EBITDA* Net profit** In EUR million +87% In EUR million +212% 496.7 378.1 265.3 121.3 Q1 2015 Q1 2016 Q1 2015 Q1 2016
Slide 11: Q1 2016 EBITDA Analysis
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 EBITDA ANALYSIS INCREASE SUPPORTED BY HEALTHY OCCUPANCY RATES, WHILST THE DIVESTMENTS HAD A DOWNWARD EFFECT +4% 0.6 0.6 4.5 214.7 1.5 1.5 7.2 206.2 202.6 4.3 3.6 5.1 Acquisitions/ Pre-OPEX Q1 2015 FX-effec
Slide 12: Segmentation: Q1 2016 EBITDA per Division
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 SEGMENTATION Q1 2016 EBITDA* PER DIVISION +11% 60.9 68.2 75.5 59.8 Netherlands 2013 2014 2015 2016 +2% 34.7 28.9 34.0 34.6 EMEA 2013 2014 2015 2016 -1% 70.7 66.4 75.4 74.6 Asia 2013 2014 2015 2016 +7% 29.4 31.4 24
Slide 13: Outlook 2016
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 OUTLOOK 2016 2015 Expansions Productivity and Divestments FX effect (and 2016 organisational pension costs) efficiency enhancements We reiterate our outlook for 2016 and expect the occupancy rate of our global net
Slide 14: Questions and Answers
QUESTIONS AND ANSWERS ROYAL VOPAK JACK DE KREIJ, VICE-CHAIRMAN & CFO 20 APRIL 2016 – ANALYST PRESENTATION
Slide 15: Appendix Q1 2016 Results
APPENDIX Q1 2016 RESULTS ROYAL VOPAK 20 APRIL 2016 – ANALYST PRESENTATION
Slide 16: Occupancy Rate Developments per Division
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 OCCUPANCY RATE DEVELOPMENTS PER DIVISION HEALTHY OCCUPANCY LEVELS IN ALL DIVISIONS Occupancy rates In percent 96 96 96 95 95 95 94 92 92 92 91 91 91 91 91 90 90 89 89 Q1 2015 85 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Net
Slide 17: Q1 2016 Netherlands Development
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 NETHERLANDS DEVELOPMENT Occupancy rate* +4pp In percent 93 96 92 85 88 2012 2013 2014 2015 2016 EBITDA** +11% In EUR million 75.5 68.2 63.3 59.8 60.9 2012 2013 2014 2015 2016 Storage capacity In million cb
Slide 18: Q1 2016 EMEA Development
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 EMEA DEVELOPMENT Occupancy rate* +5pp In percent 96 89 89 91 80 2012 2013 2014 2015 2016 EBITDA** +2% In EUR million 34.7 34.6 34.0 32.3 28.9 2012 2013 2014 2015 2016 Storage capacity In million cbm -1.8 9
Slide 19: Q1 2016 Asia Development
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 ASIA DEVELOPMENT Occupancy rate* In percent +2pp 95 95 95 92 90 2012 2013 2014 2015 2016 -1% EBITDA** In EUR million 75.4 74.6 70.7 67.3 66.4 2012 2013 2014 2015 2016 Storage capacity In million cbm +1.4 1
Slide 20: Q1 2016 Americas Development
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 AMERICAS DEVELOPMENT Occupancy rate* +3pp In percent 95 91 91 92 89 2012 2013 2014 2015 2016 EBITDA** +7% In EUR million 31.4 27.3 29.4 24.0 23.3 2012 2013 2014 2015 2016 Storage capacity In million cbm +0
Slide 21: Q1 2016 Net Result Joint Ventures & Associates
Long-term Business Q1 2016 Outlook Appendix value creation highlights key figures 2016 Q1 2016 NET RESULT JOINT VENTURES & ASSOCIATES Net result joint ventures & associates +10% Asia +4% 31.7 30.2 28.9 13.5 14.1 26.0 9.5 8.2 22.0 7.3 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 EMEA Global LNG