Exmar Nv · EURONEXT:EXM
Exmar Nv — CPS Conference January 2019
22 slides from Exmar Nv's conference presentation, January 2019
Slide 1: Exmar CPS Conference January 2019 London
Exmar CPS Conference January 2019 London
Slide 2: Disclaimer
DISCLAIMER About this presentation “This presentation (the “Presentation”) has been produced by EXMAR NV (“EXMAR” or the “Company”). By attending a meeting where this Presentation is presented, or by reading the Presentation slides, the reader or the recipient, as the case may be, (the “Recipient”)
Slide 3: Executive Summary
EXECUTIVE SUMMARY
Slide 4: Executive Summary: Reaching full employment
EXECUTIVE SUMMARY Reaching full employment LPG fleet performing despite challenging market conditions in 1H 2018 thanks to solid contract portfolio with 1st class customers and smooth operations; improved market conditions in 2H 2018 looking to strengthen into 2019. LPG Long-term charter agreeme
Slide 5: Exmar at a glance
Exmar at a glance Key metrics (proportional consolidation) Fleet list (owned vessels) at May 2018 Market capitalization: EUR ~380m Revenue (2017): USD 228m EBITDA (2017): USD 141.4m (*) 4 Total assets (2017): USD 1,244.8m Equity ratio (2017): 38.4% 2 Net Debt / EBITDA (2017): 3.9x 1 Em
Slide 6: EXMAR LPG: Innovation and Partnership
EXMAR LPG: Innovation and Partnership
Slide 7: Exmar LPG shipping
Exmar LPG shipping Business approach Key Financials1) Clients Niche position in LPG, ammonia LPG (USDm) 2015 2016 2017 and chemical gases transportation Turnover 124.5 109.4 97.0 EBITDA 51.3 56 31.8 Focus on midsize carriers (MGC), *REBITDA 51.4 41.7 31.7 VLGCs and Pressurized EBIT 17.8 34.2 4.6
Slide 8: Highlights and Outlook
Highlights and Outlook Midsize fleet • One of the most fuel-efficient midsize fleets in the sector following a modernization. program commenced in 2014 and fully delivered in July 2018. • Steady forward employment program being secured. • The fleet cover is 76% for 2019. VLGC fleet • Spot market alm
Slide 9: Creating value through the LNG value Chain
Creating value through the LNG value Chain
Slide 10: Exmar LNG Shipping & LNG Infrastructure
Exmar LNG Shipping & LNG Infrastructure Business approach Key Financials1) Clients LNG (USDm) 2015 2016 2017 Customized service with significant Turnover 88.7 91.5 68.0 added value. EBITDA 39.4 59.4 87.6 Investments with a long-term time- *REBITDA 53.1 50.4 17.6 charter contract on the Tango FLN
Slide 11: TANGO FLNG – YPF
TANGO FLNG – YPF Contract signed with YPF – preparing for mobilisation! Project intro Fully effective agreements signed on 20 November 2018. Location: Existing Mega Jetty, Bahia Blanca, Argentina. Use of FLNG for the export of natural gas from amongst others the Vaca Muerta gas field to the internat
Slide 12: EXMAR Offshore: Unlocking Untapped Values
EXMAR Offshore: Unlocking Untapped Values
Slide 13: EXMAR Offshore
EXMAR Offshore Business approach Key Financials1) Clients Provides engineering and design Offshore (USDm) 2015 2016 2017 Turnover 74.5 52.4 33.2 services, asset leasing and operating EBITDA 8.6 -0.8 (5.6) and management services REBITDA* 10.3 -1.7 (7.2) Cost effective approach with EBIT 4.4 -3.6
Slide 14: Highlights and Outlook
Highlights and Outlook Accommodation Barges • The accommodation barge NUNCE (350 persons – 2009 built) remains on charter until 2022. • The Time-Charter on the WARIBOKO (300 persons – 2010 built) has been extended until June 2019. • Outlook for 2019 is positive with new fields entering production En
Slide 15: Support Services: the Power of Innovation
Support Services: the Power of Innovation
Slide 16: Exmar's Support Services
Exmar’s Support Services Key Financials1) EXMAR Shipmanagement Travel Plus Supporting Services 2015 2016 2017 Specialized in quality ship Service-oriented travel agency Turnover 49.2 46.3 46.2 management & related services based in Antwerp specialized in EBITDA 0.1 1.9 27.7 to asset owners. both
Slide 17: Highlights and Outlook
Highlights and Outlook Support Services • EXMAR Shipmanagement has currently 75 vessels under management (compared to 46 in 2016) focusing on niche markets; approved supplier of crew and management services for all the largest Oil and Gas companies. • TRAVEL PLUS: An upturn in bookings from both exi
Slide 18: Financial Overview
> Financial Overview
Slide 19: Financial Highlights & Outlook 2019
Financial Highlights & Outlook 2019 (In USD millions unless otherwise Comments stated) 2016 2017 H1/2018 LPG: EXMAR continues to secure employment on its MGC fleet. The fleet cover is 76% for 2019. Operating Income 305.9 328,6 88.6 VLGC market fundamentals are recovering sharply. EXMAR is we
Slide 20: Debt Overview
Debt Overview Strong track record with and backing from core shipping banks and Export Credit Agencies. The Group’s debt facilities amounted to USD ~692m June 2018, including the bond of NOK 1,000 million expiring in July 2019. Balloon due for the Excalibur in November 2019 is being refinanced
Slide 21: Key Investments Considerations
Key Investments Considerations MARKET POSITION: Exmar is a leading independent owner and operator of specialised gas carriers and barge based maritime infrastructure. ASSET BASE: Exmar owns a diversified fleet of assets, including fully refrigerated and pressurised gas carriers, the floating sto
Slide 22: Thank you for your attention
Thank you for your attention 22