Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — FY2020 Earnings Presentation
12 slides from Compania Sud Americana De Vapores's earnings presentation, March 2021
Slide 1: Investor Presentation 2020 Results
Investor Presentation 2020 Results March, 2021
Slide 2: 2020 Highlights
2020 Highlights CSAV Net income of US$ 222.1 million for 2020 Dividends distribution proposal of US$ 170 million Capital increase for US$ 350 million completed successfully Complete focus on its investment in Hapag-Lloyd Hapag-Lloyd, CSAV’s main investment Net income of around US$ 1.1 bill
Slide 3: Industry: Effective measures to mitigate COVID impact
Industry Effective measures to mitigate COVID impact Heavy demand fluctuations in global demand… Demand explosion in H2 2020 spilling over into 2021 Global Noticeable decrease in transport demand and 2020 monthly container available stocks during H1, mainly due to a drop in trade growth (Y-o-Y) 7%
Slide 4: Industry: Current challenges driven by several factors
Industry Current challenges driven by several factors Charter Rate Index and Freight Rate Indices evolution 3,000 Alphaliner Charter Rate Index CCFI (Monthly average) SCFI (Monthly average) Operational 150 bottlenecks: mainly on terminals and SCFI / CCFI (Monthly average) Alphaliner Charter Rate I
Slide 5: Industry: Supply evolution throughout the years
Industry Supply evolution throughout the years Record low Orderbook during H1 2020, improving towards Q4 and back to pre-pandemic levels by Q1 2021 12 60.8% 65% Orderbook (TEU mn) Orderbook-to-fleet (%) 50.4% 55% 10 37.9% 45% 8 TEU (mn) 27.1% 28.5% 35% 6 6.6 23.3% 6.2 21.2% 19.1% 19.9% 25% 16.2% 4 5
Slide 6: Hapag Lloyd's results
Hapag Lloyd’s results Full Year 2020 FY 2020 Capacity Financial result FY 2020 FY 2020 FY 2019 ∆% Transported volume 237 (TTEU) 11,838 12,037 (2%) Total Average freight rate vessels 1,115 1,072 4% (USD/TEU) Revenue (USD mm) 14,577 14,115 3% Transport expenses + 1,719 TTEU (1,015) (1,012) 0% D,A & I
Slide 7: CSAV's results
CSAV’s results Full Year 2020 Figures in USD million Result FY 2020 FY 2019 Y-o-Y Equity-accounted investees 312.3 147.8 164.5 SG&A -9.6 -7.8 -1.8 EBITDA (with equity-accounted investees) 302.8 140.1 162.7 Financial result & ex. rate diff. -24.5 -9.6 -14.9 Taxes -55.5 -0.1 -55.4 Discontinued operati
Slide 8: CSAV's Net Income 2019 vs 2020
CSAV’s results Full Year 2020 CSAV’s Net Income 2019 vs 2020 Figures in USD million Financial result Net Income FY Share of Effect of PPA & Exchange Discontinued Net Income FY 2019 HLAG's Result on Results Badwill SG&A rate diff. Deferred taxes operations 2020 206.7 -7.6 -34.6 -1.8 -14.9 5.1 -55.4 2
Slide 9: Hapag Lloyd's results – Dividend and financial policy
Hapag Lloyd’s results Full Year 2020 – Dividend and financial policy Extracted from HLAG’s ‘Investor Presentation Annual Report 2020 Results’ (figures from ‘Investor Report Q4 ǀ FY 2020’), available at https://www.hapag-lloyd.com/en/ir.html 9
Slide 10: CSAV's financial position
CSAV’s financial position Full Year 2020 Figures in USD million Net debt (Dec-2020) Leverage Covenant < 1.3 230.0 148.3 81.7 0.11 0.13 Financial debt Cash & cash Net debt equivalent Dec-20 Dec-19 Total assets Free asset ratio 3,036 15 13.2 2,517 10.1 Covenant: > 1,615 10 5 Covenant: > 1.3 0 Dec-20 D
Slide 11: Outlook: HLAG's 2021 guidance
Outlook HLAG’s 2021 guidance: strong earnings growth expected Guidance for 2020 FY 2021 (*) Transport volume 11,838 TTEU Increasing slightly Avg. freight rate 1,115 USD/mt Increasing clearly Avg. bunker 379 USD/mt Increasing clearly Guidance for consumption price Q1 2020 Q1 2021 EBITDA USD 3,082 m I
Slide 12: Outlook
Outlook CSAV has kept an exclusive focus on its stake in Hapag-Lloyd aiming to be an efficient pass-through vehicle to obtain exposure in Hapag-Lloyd. The CSAV Annual Shareholders Meeting will take place on April 23rd and due to the pandemic, it will be conducted remotely. Shareholders will vote
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