Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — Q1 2013 Earnings Presentation
19 slides from Compania Sud Americana De Vapores's earnings presentation, May 29, 2013
Slide 1: First Quarter 2013 Results
First Quarter 2013 Results May 29, 2013
Slide 2: Agenda
Agenda 1. Market Situation 2. First Quarter 2013 Results 3. Restructuring Costs 4. Cash Position 5. Outlook 6. Relevant and Subsequent Events
Slide 3: 1. Market Situation
BICSAV 1. Market Situation EICSAV
Slide 4: Containership Fleet: Idle Fleet and Orderbook
Containership Fleet Graph 1: Idle Fleet: 634,000 TEU or 3.8% (May 2013) Idle Fleet % of Total Fleet 1,600 16% 1,400 14% Idle Capacity in Th. Teus 1,200 12% % of Total Fleet 1,000 10% 800 8% 600 6% 400 4% 3.8% 200 2% 0 0% Jun/09 Jun/10 Jun/11 Dec/12 Oct/08 Oct/11 Oct/12 Nov/09 Apr/10 Nov/10 Jul/12 Fe
Slide 5: Market Evolution
Market Evolution Graph 3: SCFI vs Rotterdam Platts o During the first quarter of 2012, freight rates SCFI -RTM Margin Rotterdam Platts SCFI *Average Margin 2013 = 565 were deeply affected in most 1,800 Average Margin 2010 = 918 Average Margin 2011 = 392 Average Margin 2012 = 605 * markets, achieving
Slide 6: 2. First Quarter 2013 Results
2. First Quarter 2013 Results
Slide 7: First Quarter 2013 Results
First Quarter 2013 Results Graph 4: Main Financial Figures (USD Million) 1,200 1,000.0 -0.8% -14.4% 1,000 0.5% 9.5% 500.0 800 600 856.4 845.4 849.8 -983.1 0.0 400 -768.6 -841.8 24.3% 200 -10.4% -69.3% -500.0 -69.5 -62.3 7.3 0 -50.1 -1,000.0 -200 -54.2 -176.8 -400 -1,500.0 Q1-12** Q4-12 Q1-13 Q1-12**
Slide 8: 3. Restructuring Costs
BICSAV 3. Restructuring Costs EICSAV
Slide 9: Restructuring Costs
Restructuring Costs Figures in US$ Million Q1-13 Q4-12 Q1-12 Onerous Contracts signed during the period - (33.3) (27.0) Additional Provisions during the period - (11.5) Reduction in costs from those provisioned - 17.2 (3.5) Sub Total - (27.5) (30.5) Taxes - 7.2 3.2 Total - (20.3) (27.3) The total pr
Slide 10: 4. Cash Position
BICSAV 4. Cash Position EICSAV
Slide 11: Cash Position
Cash Position Graph 5: Cash Position (USD million) 212.0 43.1 198.8 22.8 -15.5 -38.0 -24.1 -1.5 Cash 31-dec-12 EBITDA** Working Restructuring* Net Capex Net Debt Interest Cash 31-mar-13 Capital and Others * Restructuring Cash Flow includes all the contracts signed and the provisions recognized in re
Slide 12: 5. Outlook
BICSAV 5. Outlook EICSAV
Slide 13: Outlook: SCFI vs Rotterdam Platts
Outlook Graph 6: SCFI vs Rotterdam Platts *Average SCFI -RTM Margin Rotterdam Platts SCFI Margin 2013 Average Margin 2010 = 918 Average Margin 2011 = 392 Average Margin 2012 = 605 = 526 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 May-10 Nov-10 May-11 Nov-11 May-12 Nov-12 May-13 Jan-10 Mar-10 Jul
Slide 14: Outlook
Outlook The operational activity of the first quarter of 2013, which will explain to an important extent the financial results of second quarter of 2013, slightly improved compared with the previous quarter. In addition to this slight operational improvement, the positive effects of the repayment of
Slide 15: Outlook
Outlook Our cost structure has continue to develop significant improvements when compared to the same periods of last year, due to the positive impacts of the measures that the company has implemented to reach economies of scale provided by larger vessels, better utilization levels and a number of i
Slide 16: Outlook
Outlook The forecast for deliveries of new container vessels in 2013 is of around 10% of the total existing fleet. This unfavorably compares to a forecasted global volumes/demand growth of 3% to 7%, depending on different analysts. Due to this, during 2013 the conditions for the industry will remain
Slide 17: 6. Relevant and Subsequent Events
6. Relevant and Subsequent Events
Slide 18: Relevant and Subsequent Events
Relevant and Subsequent Events New building Project, Financial Debt Prepayment and Capital Increase On April 3, the Board of Directors approved an investment plan of up to MMUS$ 570 for the acquisition of seven new container vessels with a capacity of 9,300 Teus and the prepayment of financial debt
Slide 19: 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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