Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — FY2019 Earnings Presentation
16 slides from Compania Sud Americana De Vapores's earnings presentation, Mar 26, 2020
Slide 1: Investor Presentation 2019 Results
Investor Presentation 2019 Results March 26, 2020
Slide 2: Agenda
Agenda 1. Highlights 2. Market Overview 3. 2019 Results 4. Outlook
Slide 3: Highlights
Highlights CSAV – Net income of US$ 124.6 m in 2019, a record high since its merger with HLAG in 2014. Improvement of 585% over 2018, mainly related to its investment in HLAG's container shipping business. – Increased interest in Hapag-Lloyd to 30%. After purchases of 1.93% at the stock market in 20
Slide 4: Market Overview
Market Overview Extracted from HLAG’s Investor Presentation FY 2019, available at https://www.hapag-lloyd.com/en/ir.html
Slide 5: Market Overview
Market Overview Extracted from HLAG’s Investor Presentation FY 2019, available at https://www.hapag-lloyd.com/en/ir.html 5
Slide 6: Market Overview
Market Overview Extracted from HLAG’s Investor Presentation FY 2019, available at https://www.hapag-lloyd.com/en/ir.html 6
Slide 7: Market Overview: SCFI vs Bunker Consumption
Market Overview SCFI vs Bunker Consumption (Mar 2020) SCFI - IFO 380 (3.5) Margin (3) SCFI (1) IFO 380 (3.5%) (2) VLSFO (0.5%) (2) 1.200 1.000 800 600 Avg. Margin Avg. Margin Avg. Margin Avg. Margin 2015 = 625 2017 = 706 2018 = 674 2019 = 671 400 Avg. Margin 2016 = 564 200 0 Mar-15 Sep-15 Nov-15 Mar
Slide 8: 2019 Results: CSAV Net Income 2018 vs 2019
2019 Results: CSAV CSAV Net Income 2018 vs 2019 Figures in USD million Container Transport Segment CSAV Net Share of Effect of Badwill Deferred Exchange rate diff. Other CSAV Net Income HLAG's PPA on Taxes Financial result Transport Income 2018 Result Results & GAE Services 2019 Segment 33.6 (7.3) (
Slide 9: 2019 Results: CSAV
2019 Results: CSAV Figures in USD million 2019 2018 YoY Operating revenue 93.0 91.4 1.6 Operating expenses (93.9) (87.2) (6.7) SG&A (12.2) (10.5) (1.7) Others incomes 2.4 10.0 (7.6) Operating income (loss) (10.7) 3.7 (14.4) EBITDA (w/o equity-accounted investees) 19.8 3.9 15.9 Equity-accounted inves
Slide 10: 2019 Results: CSAV Segment Results
2019 Results: CSAV Segment Results Figures in USD million Container transport services 2019 2018 YoY Equity-accounted investees 147.8 14.0 133.8 SG&A (4.8) (4.2) (0.6) Financial result & Ex. rate diff (10.1) (6.2) (3.9) Taxes (1.6) 5.7 (7.3) Net income (loss) 131.3 9.3 122.0 Other transport services
Slide 11: 2019 Results: Hapag-Lloyd Evolution of Revenue, Transport Expenses and Group Net Income
2019 Results: Hapag-Lloyd Evolution of Revenue, Transport Expenses and Group Net Income ∆ +3% ∆ -1.1% ∆ USD +363.6 m Revenue Transport expenses Group net income USD 14,115 m 1,012 USD/TEU USD 418 m +2.7% -1.2% +355* Freight rate Bunker price EBITDA 1,072 USD/TEU 416 USD/mt USD 1,700 m* -0.5% +350* +
Slide 12: HLAG 2019: Improved results, EBITDA and EBIT compared to 2018
HLAG 2019: Improved results, EBITDA and EBIT compared to 2018 Overview of IFRS 16 Effects on P&L Accounts Extracted from HLAG’s Investor Presentation FY 2019, available at https://www.hapag-lloyd.com/en/ir.html 12
Slide 13: Financial Position: CSAV
Financial Position: CSAV (Figures in USD million) Net Debt (Dec 2019) Leverage 227.6 7.9 IFRS 16 174.0 Covenant: <1.3 219.7 53.6 0.13 0.06 Financial debt Cash and cash Net debt Dec 2019 Dec 2018 equivalent Total Assets Free Asset Ratio 23.6 2.517 2.258 Covenant: >1,615 10.1 Covenant: >1.3 Dec 2019 D
Slide 14: Outlook: HLAG's Guidance 2020
Outlook HLAG’s Guidance 2020 Extracted from HLAG’s Investor Report FY 2019, available at https://www.hapag-lloyd.com/en/ir.html 14
Slide 15: Outlook
Outlook CSAV’s has been exclusively focused on the container shipping business since 2020, after closing its car carrier business. Regarding the global context, the container shipping industry is in a much better position now than it was for the 2009 crisis, but under high uncertainty surrounding CO
Slide 16: 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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