International Container Terminal Services, Inc. · PSE:ICT
International Container Terminal Services — FY2020 Earnings Presentation
25 slides from International Container Terminal Services's earnings presentation, Mar 4, 2021
Slide 1: FY 2020 Investors' Briefing
FY 2020 Investors’ Briefing March 4, 2021
Slide 2: Highlights
Highlights Financial and Operational Performance Net income attributable to Volume Revenues EBITDA equity holders +0.2% +2% +6% +1% EBITDA Recurring Margin Net Income 58% +9% ▪ FY2020 Volume and revenues were flattish as global trade declined in the first half and recovered in the second half of 202
Slide 3: Quarterly Highlights
Quarterly Highlights Reaping the benefits of cost optimization measures (In US$ million except Volume, Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Yield per TEU & EBITDA margin) 2018 2018 2018 2018 2019* 2019* 2019* 2019* 2020 2020 2020 2020 Volume (in TEU ‘000) 2,326 2,389 2,438 2,584 2,479 2,563 2,548 2,5
Slide 4: Agenda
Agenda 01 Recent Financial Performance 02 Liquidity and Capital Resources 03 Other Matters 04 Questions and Answers 05 Appendix
Slide 5: Recent Financial Performance
01 Recent Financial Performance
Slide 6: Volume and Revenue
Volume and Revenue Volume Revenue (in TEUs) (in US$ ‘000) 9,736,622 10,178,018 10,193,384 1,385,785 1,481,412 1,505,500 7% 2% 5% 0.2% +9% -1% +15% 1,794,327 (18%) 1,805,865 (18%) 310,073 (21%) 305,858 (20%) 1,563,888 (16%) +1% 284,414 (21%) +6% 2,935,281 (30%) 2,979,852 (29%) 3,092,480 (30%) +4% 448
Slide 7: Consolidated P&L Highlights
Consolidated P&L Highlights (In US$ 000, except Volume and EPS) 2019 2020 % Change Volume marginally higher by 0.2% due to contribution of ICTSI Rio, a new terminal in Rio de Janeiro in Brazil; improvement in trade activities in 2H2020; and new contracts with shipping lines and services at certain t
Slide 8: Financing Charges & Other Expenses
Financing Charges & Other Expenses 2019 2020 % Change (In US$’ 000) Increased primarily due to the additional impairment charges at TECPLATA, COVID-19 Financing Charges & Other Expenses 283,991 320,693 +13% related expenses and lower capitalized borrowing cost in 2020. ▪ Interest Expense on Loans/Bo
Slide 9: Recurring Net Income
Recurring Net Income (In US$ 000) 2019 2020 % Change Net Income Attributable to Equity Holders 100,367 101,764 +1% Non-recurring item: ▪ Add: Impairment charge on the concession rights assets of TECPLATA and 156,000 180,307 other non-financial assets ▪ Add: Acceleration of DIC associated with the pa
Slide 10: Proactive FX Risk Management
Proactive FX Risk Management ICTSI’s revenue and cash expenses are favourably matched, which provides a natural currency hedge that mitigates against volatility attributable to FX movements Revenue Currency by Subsidiary Cash Expense Currency by Subsidiary US$ Revenues from Port Operations (2020 Rev
Slide 11: FX Movement
FX Movement May-18 May-19 May-20 Aug-18 Sep-18 Nov-18 Dec-18 Aug-19 Sep-19 Nov-19 Dec-19 Aug-20 Sep-20 Nov-20 Dec-20 Feb-18 Mar-18 Feb-19 Mar-19 Feb-20 Mar-20 Jun-18 Jan-18 Jan-19 Jun-19 Jan-20 Jun-20 Apr-18 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Jul-18 Jul-19 Jul-20 90 110 130 150 Currency 170 BRL COP
Slide 12: Yield/TEU and EBITDA Margin
Yield/TEU and EBITDA Margin Yield/TEU Evolution 160 - 1.73 150 1.56 2.32 140 145.55 147.69 130 120 Yield/TEU Organic New Terminals Forex Yield/TEU Dec 2019 Dec 2020 EBITDA Margin Evolution 59% -0.34% 0.05% 58% 2.50% 57% 56% 58.24% 55% 56.04% 54% EBITDA Margin % Organic New Terminals Forex EBITDA Mar
Slide 13: Yield/TEU Analysis
Yield/TEU Analysis (In US$ million) % 2019 2020 change Volume (TEU ‘000) 10,178 10,193 +0.2% Revenues (US$ million) 1,481 1,505 2% Yield/TEU (US$) 146 148 +1% EBITDA (US$ millions) 830 877 +6% EBITDA Margin 56% 58% FX due to unfavorable translation impact of BRL, -2 MXN and AUD , partially tapered b
Slide 14: Liquidity and Capital Resources
02 Liquidity and Capital Resources
Slide 15: Balance Sheet Summary
Balance Sheet Summary Financial Ratios (In US$ millions) Dec 31, 2019 Dec 31, 2020 Dec 31, 2019 Dec 31, 2020 Intangible and Property and Equipment 3,521 3,457 Gearing: Debt/SHE 1.02 0.95 Current Ratio: Lease Assets 576 612 Current Assets/Current Liabilities 0.72 1.98 Cash and Cash Equivalents 235 73
Slide 16: Principal Redemption Profile
Principal Redemption Profile As of December 31, 2020 (US$ millions) Perp NC26 (4) Perp NC22 (3) 300 Perp NC24 (2) 400 394 Perp NC21 (1) 400 375 400 198 290 89 105 55 29 22 6 6 4 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Relationship banks Bonds Perp Notes: (1) Callable in 2021 with rate rese
Slide 17: Capital Expenditures
Capital Expenditures (In US$ millions) 2020B 2020A 2021B $7m $54m 3% $1m $35m $57m 20% $23m 1% 18% 23% 14% $24m US$270m US$160m 12% US$199m US$250m $139m $210m 70% 77% $136m $193m 85% 77% ORIGINAL REVISED 2020B CAPEX mainly for: 2021 CAPEX mainly for: EXPANSIONARY: Manila, Mexico, Ecuador & DR Congo
Slide 18: Other Matters
03 Other Matters
Slide 19: Recent Events
Recent Events 2021 March ICTSI signs Lease Agreement with the Nigerian Port Authority for the development and operation of a multipurpose terminal in the Port of Onne in Rivers State, Nigeria Nov ICTSI successfully raised close to US$100m from the sale of 40 million treasury shares Oct ICTSI started
Slide 20: ICTSI Sustainability Reports
ICTSI Sustainability Reports OUR SUSTAINABILITY REPORTING JOURNEY Edition Covered 2017 2018 2019 2020 Published 2018 2019 2020 2021 • Selected metrics: Group-wide Coverage: • Selected metrics: Group-wide • Selected metrics: Group-wide • Selected metrics: Group-wide • For performance in Environment,
Slide 21: ESG Initiatives
ESG Initiatives • Altogether—and in unity with its host communities in the fight against COVID-19—the ICTSI Group contributed over USD 9.5 million to national and local government agencies, immediate communities, employees, and port stakeholders. ICTSI terminals across the globe continue to play an
Slide 22: Concluding Remarks
Concluding Remarks ▪ Delivered a positive performance despite a very challenging backdrop ▪ Business strength and resilience achieved through disciplined cost control and capex assessment ▪ Firepower to invest in existing terminals and value-accretive acquisitions ▪ Current trading is positive and s
Slide 23: Questions and Answers
04 Questions and Answers
Slide 24: Appendix
05 Appendix
Slide 25: Thank you!
International Container Terminal Services, Inc. wom | ~~ Ss : é | x : . ) thank you!
International Container Terminal Services — FY2020 Earnings Presentation on 6ix