Royal Vopak Nv · EURONEXT:VPK
Royal Vopak Nv — Investor Day (July 2009)
27 slides from Royal Vopak Nv's investor day presentation, Jul 3, 2009
Slide 1: John Paul Broeders, Chairman of the Executive Board
_ John Paul Broeders Chairman of the Executive Board Analyst Meeting 3 July 2009 – – –
Slide 2: The world of Vopak
The world of Vopak – – – Analyst Meeting 2009 3/7/2009 2
Slide 3: Vopak Update
Vopak Update Strategy update Position in current environment Developments since Q1 2009 Outlook – – – Analyst Meeting 2009 3/7/2009 3
Slide 4: Vopak transformation process
Vopak transformation process "This is an infrastructure play; the company is benefitting from the outsourcing of this service by oil and chemical producers, which form the bulk of its customers. It is an under-recognized industry leader." Canadian Investor July 2002 2003 2004 2005/2006 2007/2008/200
Slide 5: Strategic focus Vopak
Strategic focus Vopak ACCELERATED ACCELERATED EXCELLENT EXCELLENT MAXIMUM MAXIMUM COMPANY COMPANY CUSTOMER CUSTOMER OPERATIONAL OPERATIONAL GROWTH GROWTH SERVICE SERVICE EFFICIENCY EFFICIENCY Pursue and strengthen Attain service Attain low cost position leadership in key excellence across the compar
Slide 6: Drivers of structural growth in demand remain
Drivers of structural growth in demand remain Countries setting individual specifications for products Liberalization of previously closed economies Increasing geographical imbalances Growing demand for environmentally friendlier fuels – – – Analyst Meeting 2009 3/7/2009 6
Slide 7: Market developments summarized
Market developments summarized Oil: Chemicals: - Product differentiation - Increasing demand for storage - Increasing geographical imbalance - Robust growth in developing between demand and supply markets - Liberalization of new markets - Build-up of new petrochemical - High oil price – high feedsto
Slide 8: Vopak Update
Vopak Update Strategy update Position in current environment Developments since Q1 2009 Outlook – – – Analyst Meeting 2009 3/7/2009 8
Slide 9: Important differences with previous cycles
Important differences with previous cycles Biofuel storage Industrial terminals Changed customer base and Increased contract durations role in supply chain 100% < 1yr 75% 50% 1yr < > 3yr 25% > 3yr 0% 2007 2008 Industrial terminals – – – Analyst Meeting 2009 3/7/2009 9
Slide 10: EBIT breakdown 2008
EBIT breakdown 2008 Biofuels and vegoils ~ 15% Industrial terminals Oil ~ 15% ~ 50% Chemicals Remaining ~ 20% with various mitigating factors: - Contract structure - Contract durations - Geographical spread – – – Analyst Meeting 2009 3/7/2009 10
Slide 11: Preparation for an economic downturn
Preparation for an economic downturn Approach by Vopak – – – Analyst Meeting 2009 3/7/2009 11
Slide 12: Various long-term scenarios analyzed
Various long-term scenarios analyzed Oil Chemical Demand patterns Demand patterns Trade flow patterns Trade flow patterns Customer trends Customer trends Scenarios Scenarios Evolutionary Evolutionary Supply chain Liberalization revision Alternative energy sources – – – Analyst Meeting 2009 3/7/2009
Slide 13: Most likely scenario
Most likely scenario – – – Analyst Meeting 2009 3/7/2009 13
Slide 14: Path forward: Need to balance four dimensions
Path forward: Need to balance four dimensions – – – Analyst Meeting 2009 3/7/2009 14
Slide 15: Various initiatives supporting robustness
Various initiatives supporting robustness EXCELLENT EXCELLENT CUSTOMER CUSTOMER MAXIMUM MAXIMUM OPERATIONAL OPERATIONAL SERVICE SERVICE EFFICIENCY EFFICIENCY •• Operational Operational efficiency efficiency improvement improvement •• Focus Focus on on service service and and quality quality •• Globa
Slide 16: Buckets: Which projects to execute?
Buckets: Which projects to execute? 5 4 Must do 3 Grey-zone 2 Reconsider 1 1 2 3 4 5 – – – Analyst Meeting 2009 3/7/2009 16
Slide 17: The growth of Vopak: Projects in progress
The growth of Vopak: Projects in progress – – – Analyst Meeting 2009 3/7/2009 17
Slide 18: Growth continues with 2.8 mln CBM
Growth continues with 2.8 mln CBM under construction at strategic locations YE 2007 storage capacity 21.8 mln CBM Storage capacity increase in 2008 5.3 mln CBM YE 2008 storage capacity 27.1 mln CBM Storage capacity increase in Q1 2009 0.3 mln CBM Q1 2009 storage capacity 27.4 mln CBM Remaining 2008
Slide 19: Projects commissioned in Q1 2009
Projects commissioned in Q1 2009 Tallinn, Estland Product: Oil Capacity: 111,000 cbm Gothenburg, Sweden Product: Oil Capacity: 60,000 cbm Teesside, UK Product: Chemicals Capacity: 40,000 cbm – – – Analyst Meeting 2009 3/7/2009 19
Slide 20: Vopak Update
Vopak Update Strategy update Position in current environment Developments since Q1 2009 Outlook – – – Analyst Meeting 2009 3/7/2009 20
Slide 21: Gate terminal: Project financing in place
Gate terminal: Project financing in place July 2008 Gate (9 bcm): EUR 745 mln senior project financing agreement 20 years March 2009 Gate (12 bcm): Additional EUR 136 mln senior project financing agreement 20 years – – – Analyst Meeting 2009 3/7/2009 21
Slide 22: Shareholders support the growth strategy
Shareholders support the growth strategy Dividend 2008: EUR 1.10 per ordinary share Paid in stock unless a shareholder expressly requested payment in cash +16% 1.10 0.95 0.75 0.60 0.50 2004 2005 2006 2007 2008 73% of shareholders opted for stock dividend instead of cash-dividend ……… supporting Vopak
Slide 23: Amsterdam Westpoort (Phase1)
Amsterdam Westpoort (Phase1) • Phase 1; 620,000 cbm, total planned storage capacity of 1.1 mln cbm • 20 above-ground storage tanks, 11 x 40.000 cbm & 9 x 20.000 cbm • A facility for blending (mixing) products and components • Seven berths at two finger piers and a quay wall – – – Analyst Meeting 200
Slide 24: Vopak Update
Vopak Update Strategy update Position in current environment Developments since Q1 2009 Outlook – – – Analyst Meeting 2009 3/7/2009 24
Slide 25: Confidence in the future!
“Confidence in the future!” – – – Analyst Meeting 2009 3/7/2009 25
Slide 26: Forward-looking statement
Forward-looking statement This presentation contains statements of a forward-looking nature, based on currently available plans and forecasts. Given the dynamics of the markets and the environments of the 32 countries in which Vopak renders logistics services, the company cannot guarantee the accura
Slide 27: www.vopak.com
– – – – Analyst Meeting 2009 3/7/2009 27 www.vopak.com