Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — FY2015 Earnings Presentation
18 slides from Compania Sud Americana De Vapores's earnings presentation, April 2016
Slide 1: CSAV’s 2015 Results
CSAV’s 2015 Results April 2015
Slide 2: Agenda
Agenda 1. Highlights 2. Market Situation 3. 2015 Results 4. Cash Position 5. Outlook
Slide 3: 1. Highlights
1. Highlights EIICSAV
Slide 4: Highlights
Highlights CSAV reported a loss of MMUS$ 14.7 for the year 2015, which is explained mainly by the dilution loss of MMUS$ 83.9 on the investment in the joint venture Hapag-Lloyd AG (hereinafter HLAG). In 2014, the company recorded a profit of MMUS$ 388.7 related to closing the transaction with HLAG.
Slide 5: Highlights
Highlights In order to improve its financing structure, on September 10, 2015, the company fully prepaid its outstanding Chilean bonds (denominated in UF). This prepayment was financed with a US dollar long-term, floating-rate loan for MMUS$ 45 from Banco Itaú Chile. On November 6, 2015, CSAV, throu
Slide 6: 2. Market Situation
2. Market Situation EIICSAV
Slide 7: Containership Fleet
Containership Fleet Graph 1: Orderbook / Fleet: 19,7% (December 2015) Graph 2: Idle Fleet: 1,359,000 TEU or 6.8% (December 2015) Fleet Orderbook Orderbook to Fleet Ratio Idle Fleet % of Total Fleet 25 90% 1.600 16% Idle Capacity in Th. Teus 80% 1.400 14% % of Total Fleet 20 Orderbook/Fleet 70% 1.200
Slide 8: Market Evolution
Market Evolution Graph 4: SCFI vs Rotterdam Platts (December 2015) SCFI -RTM Margin Rotterdam Platts* SCFI* 1.800 Average Margin Average Margin Average Margin Average Margin Average Margin Average Margin 2010 = 918 2011 = 392 2012 = 605 2013 = 480 2014 = 536 2015 = 468 1.600 1.400 1.200 1.000 800 60
Slide 9: Market Evolution
Market Evolution Graph 5: Car Carrier World Trade Evolution Word Trade Evolution South America Asia North America Europe & Intra Europe Others Annual growing (%) 30.000 30% Thousand of Vehicle 25.000 20% 10% 20.000 0% 15.000 -10% 10.000 -20% 5.000 -30% 0 -40% 2006 2007 2008 2009 2010 2011 2012 2013
Slide 10: 3. 2015 Results
4. 2015 Results EIICSAV
Slide 11: CSAV´s 2015 Results
CSAV´s 2015 Results 2015 2014 Var MM US$ MM US$ MM US$ Operating revenue 183.1 235.3 (52.2) Operating cost (180.2) (237.1) 56.9 Gross margin 2.9 (1.8) 4.7 SG&A and others (19.7) (19.2) (0.5) Other revenue net 3.8 846.6 (842.8) Operational result (13.0) 825.6 (838.6) EBITDA (5.9) 756.9 (762.8) Financ
Slide 12: CSAV´s investment in Hapag-Lloyd joint venture
CSAV´s investment in Hapag-Lloyd joint venture Hapag-Lloyd Group figures December 31, 2015 MM US$ Group Profit/Loss attributable to shareholders 123.9 CSAV equity-account on HLAG investment MM US$ Equity-account investees at December 31, 2014 1,765.0 on Hapag-Lloyd result 43.5 PPA fair value adjustm
Slide 13: Reporting Segments Results
Reporting Segments Results Container transport services Other transport services Var Var 2015 2014 2015 2014 MM US$ MM US$ MM US$ MM US$ MM US$ MM US$ Operating revenue - - - 183.1 235.3 (52.2) Operating cost - - - (180.2) (237.1) 56.9 Gross margin - - - 2.9 (1.8) 4.7 SG&A and others (4.3) (3.3) (1.
Slide 14: 4. Cash Position
4. Cash Position EIICSAV
Slide 15: Cash Position
Cash Position Graph 7: Cash Position (USD million) 67.5 52.4 45.7 -5.9 -22.6 -32.3 Cash Position of EBITDA Change in working capital Investment cash flow Financing cash flow Cash Position of Dec 31, 2014 Dec 31, 2015 15
Slide 16: 5. Outlook
5. Outlook EICSAV
Slide 17: Outlook
Outlook Graph 8: SCFI vs Rotterdam Platts SCFI -RTM Margin Rotterdam Platts* SCFI* 1.800 Avg. Margin Avg. Margin Avg. Margin Avg. Margin Avg. Margin Avg. Margin 2010 = 918 2011 = 392 2012 = 605 2013 = 480 2014 = 536 2015 = 482 1.600 1.400 1.200 1.000 800 600 400 200 0 Mar-10 Sep-10 Mar-11 Sep-11 Mar
Slide 18: 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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