Wallenius Wilhelmsen Asa · OSL:WAWI
Wallenius Wilhelmsen Asa — Wallenius Wilhelmsen Logistics — Non-Deal Roadshow (March 2017)
39 slides from Wallenius Wilhelmsen Asa's roadshow presentation, Mar 29, 2017
Slide 1: Wallenius Wilhelmsen Logistics ASA Company Presentation
Wallenius Wilhelmsen Logistics ASA Company Presentation EXECUTIVE SUMMARY VERSION - Updated 29th March 2017
Slide 2: Disclaimer
DISCLAIMER This presentation (the “Presentation”) has been prepared by Wallenius Wilhelmsen Logistics ASA (“WWL” or the “Company” and together with its subsidiaries the "WWL Group"). The Presentation has been prepared and is delivered for information purposes only. It has not been reviewed or regist
Slide 3: Today's Presenters
Today’s Presenters Craig Jasienski Rebekka Glasser Herlofsen President & CEO CFO • Number of years in industry: >30 years • Number of years in industry: >20 years • Born: 1969 • Born: 1970 • Key Experience: • Key Experience: – CEO, Eukor Car Carriers – CFO, The Torvald Klaveness Group – CEO, United
Slide 4: Agenda
Agenda Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A 4
Slide 5: Why we believe WWL is an attractive company
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Why we believe WWL is an attractive company 1 The undisputed market leader globally 2 Blue chip customers comprising all major OEMs1) globally 3 Improving market fundamentals – positive signals ahead 4 Simplified an
Slide 6: Shipping industry pioneers adapting to changing market conditions
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Shipping industry pioneers adapting to changing market conditions Merger to create Wallenius Wilhelmsen Logistics ASA as a listed Wallenius Wilhelmsen company incl. EUKOR, changes its name from WWL, American Roll-on
Slide 7: Among the largest listed shipping / logistics companies globally
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Among the largest listed shipping / logistics companies globally 8th largest listed shipping / logistics company globally Market cap (USDbn) A.P. Moller Maersk 1) 21.2 Glovis 5.1 Mitsui OSK Lines 3.8 Nippon Yusen K.
Slide 8: WWL ASA is the undisputed market leader globally, with an unmatched product and network
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A WWL ASA is the undisputed market leader globally, with an unmatched product and network KEY FACTS & FIGURES OUR PRODUCTS & SERVICES1) 127 2 MARINE TERMINAL 1 OCEAN TRANSPORTATION 127 vessels servicing >15 SERVICES t
Slide 9: New effective structure realizes cost synergies up towards 100 MUSD and enables accelerated growth
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A New effective structure realizes cost synergies up towards 100 MUSD and enables accelerated growth within the Logistics Services portfolio Creating the world’s leading, most agile and efficient shipping and logistic
Slide 10: Significant cost reductions and efficiency gains from a cleaner organizational structure
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Significant cost reductions and efficiency gains from a “cleaner” and more A transparent organizational structure From a structure of jointly controlled entities... ...to an integrated and more efficient WWL structu
Slide 11: New structure will allow up towards 100 MUSD in cost synergies
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A New structure will allow up towards 100 MUSD in cost synergies and provide B revenue growth opportunities CATEGORIES Cost synergies Revenue synergies SG&A1) Cost Reduction Procurement efforts Commercial co-operation
Slide 12: Logistics Services portfolio growth drivers
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Logistics Services portfolio growth driven by organic growth, new services & C segments, business development and aggressive portfolio management Organic growth of existing New services & segments Business developme
Slide 13: The RoRo shipping market has gone through some structural changes
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A The RoRo shipping market has gone through some structural changes – WWL will be well positioned for the future 1 2 3 4 MARKET Market fragmentation and Intense competition and Environmental regulations to The procure
Slide 14: Improving market fundamentals gives us tailwind into the future
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Improving market fundamentals gives us tailwind into the future A B C D MARKET TREND Auto – steady growth H&H – turning point Breakbulk – improving Market balance – firmer Executive Summary Business Portfolio Market
Slide 15: Agenda
Agenda Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A 15
Slide 16: WWL consisting of two main segments
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A WWL consisting of two main segments 1 2 OCEAN TRANSPORTATION LOGISTICS SERVICES “Market Leader” “Accelerated Growth” Note: ARC retains a separate and independent management structure 16
Slide 17: A clear market leader and the #1 operator globally
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A A clear market leader and the #1 operator globally, both in terms of CEU1) 1 capacity and number of vessels #1 player in the RoRo industry Well positioned for H&H and Breakbulk cargo Current fleet by operator group
Slide 18: Unrivalled global RoRo network and unique agility to meet changing demand
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A 1 Unrivalled global RoRo network and unique agility to meet changing demand 127 vessels with more than 1,300 sailings and 9,000 port calls per year Overview of key trade routes WWL trade routes EUKOR trade routes AR
Slide 19: Significant synergies from fleet optimisation of the combined fleet
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Significant synergies from fleet optimisation of the combined fleet, while 1 maintaining three distinct brands in the marketplace Three distinct brands… …and a fleet of 127 vessels with more than 800,000 CEU capacit
Slide 20: Blue chip customers comprising all major OEMs globally
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A 1 Blue chip customers comprising all major OEMs1) globally Size of Cargo Segments Main customers include all major OEMs globally AUTO HIGH & HEAVY BREAKBULK Auto ~78% of ~22% of MainCBM CBM customers include all mai
Slide 21: Factory to Dealer strategy has built a global Logistics Services network
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Through our Factory to Dealer strategy we have built a truly global network of 2 Logistics Services and are well positioned for future growth In-plant vehicle processing centres In-plant equipment processing centres
Slide 22: State-of-the-art Logistics Services set-up
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A State-of-the-art Logistics Services set-up enabling customers to reduce costs and 2 increase efficiencies throughout their outbound logistics chain Logistics Services Portfolio1) Main Customers Marine Terminals Tech
Slide 23: The Logistics Services universe is highly fragmented
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A 2 The Logistics Services universe is highly fragmented Fragmented Logistics Services industry – typical size of companies is 5-30 MUSD in EBITDA 23
Slide 24: Strong Senior Management Team with +20 years industry experience
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Strong Senior Management Team with +20 years industry experience on average WWL ASA Senior Management Team WWL ASA Craig Jasienski CEO TBC Rebekka Glasser Herlofsen Organizational development & CFO HR Christer Nygre
Slide 25: Experienced Board of Directors with broad industry knowledge
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Experienced Board of Directors with broad industry knowledge and presence – independent Chair and two independent Board Members WWL ASA Board of Directors Chair of the Board Håkan Larson • Chair of the SteerCo for t
Slide 26: Agenda
Agenda Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A 26
Slide 27: The RoRo shipping market has gone through some structural changes
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A The RoRo shipping market has gone through some structural changes – WWL will be well positioned for the future 1 2 3 4 MARKET Market fragmentation and Intense competition and Environmental regulations to The procure
Slide 28: Improving market fundamentals gives us tailwind into the future
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Improving market fundamentals gives us tailwind into the future A B C D MARKET TREND Auto – steady growth H&H – turning point Breakbulk – improving Market balance – firmer Executive Summary Business Portfolio Market
Slide 29: Healthy global auto market growth expected over the next years
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Healthy global auto market growth expected over the next years driven by firm A growth in smaller markets Global auto sales development Million units, 2016-2024E FORECAST CAGR 2016-2024E Global auto market growth +1
Slide 30: Improving outlook for the H&H segment
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Improving outlook for the H&H segment – continued strong construction activity B coupled with recovery in resource segments to influence WWL positively Continued solid growth for construction segment Improving outlo
Slide 31: Large untapped potential exists for WWL Breakbulk segments
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A C Large untapped potential exists for WWL Breakbulk segments Mining equipment Machinery & machine tools Rail Aviation Oil & gas Construction Boats & yachts Power generation & equipment Rubber & steel 31
Slide 32: Market balance expected to gradually improve going forward
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A D Market balance expected to gradually improve going forward Several recycling candidates in current RoRo fleet (CEU)… … and modest orderbook for 2017-2019E 400 100% 400 4% of capacity (CEU) > 25 yrs 300 75% 300 CEU
Slide 33: Agenda
Agenda Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A 33
Slide 34: WWL pro-forma income statement for year-end 2016 shows EBITDA of ~0.6bn USD
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A WWL pro-forma income statement for year-end 2016 shows EBITDA of ~0.6bn USD WW ASA 2013-2016 adjusted for Treasury ASA (MUSD)1) Adjusted pro-forma WWL ASA Group2) Revenue EBITDA Revenue EBITDA 2,474 2,377 383 3,530
Slide 35: WWL pro-forma balance sheet year-end 2016
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A WWL pro-forma balance sheet year-end 2016 Unaudited Pro-forma Balance Sheet WWL ASA IFRS, 2016 Comments USD Billion ASSETS EQUITY & LIABILITIES 7.3 7.3 • Net interest bearing debt per 31.12.2016 of ~3.1bn USD, of wh
Slide 36: WWL has access to a broad range of capital markets
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A WWL has access to a broad range of capital markets WWL ASA Group interest bearing debt 20162) Comments USD Billion 3.9 • Bank loans are the “base funding” of the WWL fleet • Wilhelmsen Lines AS, Wallenius Lines AB o
Slide 37: Agenda
Agenda Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A 37
Slide 38: Why we believe WWL is an attractive company
Executive Summary Business Portfolio Market Outlook Financial Review Summary and Q&A Why we believe WWL is an attractive company 1 The undisputed market leader globally 2 Blue chip customers comprising all major OEMs1) globally 3 Improving market fundamentals – positive signals ahead 4 Simplified an
Slide 39: Wallenius Wilhelmsen Logistics ASA
WALLENIUS WILHELMSEN LOGISTICS ASA
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