Irish Continental Group Plc · EURONEXT:IR5B
Irish Continental — H1 2010 Earnings Presentation
33 slides from Irish Continental's earnings presentation, Aug 27, 2010
Slide 1: Irish Continental Group plc Half Year to 30 June 2010
IRISH CONTINENTAL GROUP lrish Continental Group plc Half Year to 30 June 2010 27 August 2010 rae bars IRISH CONTINENTAL GROUP
Slide 2: ICG Profile
ICG Profile cS IRISH CONTINENTAL GROUP Capital Employed 1. Ferries Division 83% Leading ferry company operating between UK/Continent and €170m Republic of Ireland 2. Container Division Leading Container operator between Ireland and the Continent with own container stevedoring terminals in Dublin & B
Slide 3: ICG - Group Results
as ICG - Group Results a IRISH CONTINENTAL GROUP Turnover €122.4m €119.8m 2.2% €260.5m Operating Costs (exc. Dep) €102.4m €101.0m 1.4% €209.8m EBITDA €20.0m €18.8m 6.4% €50.7m Profit From Operations €8.8m €7.1m 23.9% €26.5m Adjusted EPS 34.3c 22.3c 53.8% 107.7c Basic EPS 33.1¢ 19.9c 66.3% 102.4c Equ
Slide 4: ICG Cash Flow
as ICG Cash Flow IRISH ec GROUP tt 20102009 2000 EBITDA 20.0 18.8 50.7 Working Capital Movement 6.8 12.5 7.7 Pension Payments (1.1) (0.8) (5.7) Other (2.1) 0.4 0.7 Cash generated from Operations 23.6 30.6 53.4 Interest (0.1) (0.7) (1.6) Tax (0.1) (0.7) (0.1) Capex (4.6) (4.3) (4.8) Free Cash Flow 18
Slide 5: Dividends / Redemption
_ ; re! Dividends / Redemption ais: comesar Grove €74.1 million returned to shareholders over last 3 years Adjusted EPS (Cent) 107.7 148.9 178.6 108.5 54.1 Dividend/Redemption 100 100 100 10.9* 29.2 (Cent) Cumulative Payout 57% 49% 41% 25% 54% * No final paid due to offers for Company rs%e IRISH CON
Slide 6: ICG Fuel Costs
IRISH CONTINENTAL GROUP ICG Fuel Costs a Consumption (000 tons) Heavy Fuel Oil 43.1 46.5 93.1 Marine Diesel 7.3 6.3 12.8 50.4 52.8 105.9 Price (€ per ton) Heavy Fuel Oil €367 €237 €275 Marine Diesel €526 €357 €390 Total Cost (inc. lubs) €20.1m €13.6m €31.5m % of Operating Costs (exc. Dep) 19.6% 13.5
Slide 7: Group Pension Funds
Group Pension Funds a IRISH CONTINENTAL GROUP Assets 192.1 191.8 169.9 Liabilities (222.1) 207.5 187.1 Surplus/( Deficit) (30.0) (15.7) (17.2) Discount Rate 5.2% / 5.3% 5.6%/5.7% 5.90% / 6.25% Company in negotiation with Trustees on extended recovery plan to be finalised end November 2010 ICG alloca
Slide 8: Ferries Division
Fe rries Division IRISH cone oa GROUP ® 5 Conventional combined Car / RoRo ferries ° 1 fast car carrying ferry, light freight ° 4000 sailings - UK ° 300 sailings - France ° 2 ferries on charter to P&O, one to October 2010, one to July 2013 lvishferries @ Com: The Low Fares Ferry Company
Slide 9: Ferries Division
Ferries Division IRISH conraa GROUP Turnover 3.8% 149.0 Operating Costs 51.7 51.3 0.6% 109.9 EBITDA 16.3 14.2 15.5% 39.1 Depreciation/Amortisation (9.8) (10.3) -2.9% (21.0) Operating Profit 6.5 3.9 +64.1% 18.1 Passenger, Car & On Board revenue up 16% RoRo Freight revenue down 15% Fuel costs up €3.9
Slide 10: Ferries Revenues 2009
Ferries Revenues 2009 a IRISH CONTINENTAL GROUP Other 5% (2008 — 4%) ‘i => Ro Ro Freight 35% (2008 - 41%) Cars & Passengers 60% (2008 — 55%)
Slide 11: Ferries Costs 2009
2 Ferries Costs 2009 IRISH ContiNENTAL GROUP Overhead/Other ‘ 9 Payroll Promotion/ 2005”. 5%) a Marketing | (2008 — 24%) 9% (2008 ~ 9%) Depreciation 7G 16% (2008 — 14%) Repairs/Insurance 5% (2008 — 6%) Port Costs Fuel 22% 16% (2008 — 22%) (2008 — 20%)
Slide 12: Irish Sea Routes 2010
lrish Sea Routes 2010 DUBLIN ~~ --~~-~~ . Om ~~ @ HEYSHAM DUN LAOGHAIRE = a .. ~@ LIVERPOOL ROSSLARE . HOLYHEAD cork oe i : ~ roy ‘@ FISHGUARD ‘ ‘@ PEMBROKE \ ys @ SWANSEA , =.” \ \ \ ‘ IRISH FERRIES oxmmmm \ PORTSMOUTH STENA LINE === \ i. P&O IRISH SEA == \ oe NORFOLK LINE == oa SEATRUCK =< Dene ee
Slide 13: Market Share
“Ss Market Share am IRISH CONTINENTAL GROUP . Irl - Freight Cars Short Sea 48% 47% 23% 92% 47% 43% Long Sea 4 9 52% 3 8% Irl — France Freight Cars |
Slide 14: Passenger Market
-s Pie, Passenger Market IRISH CONTINENTAL GROUP CAGR Irish Ferries +9% +12% -3% 1% -2% Republic of Ireland +9% -4% -3% -4% All Ireland +8% -3% -2% -4% lvishCerries & Com: The Low Fares Ferry Company
Slide 15: Market Share - Passengers
Market Share - Passengers cs IRISH CONTINENTAL GROUP 000’s Republic of Ireland — UK & France 3,500.000 3,000.000 2,500.000 2,000.000 1,500.000 1,000.000 Others @ Irish Ferries 500.000 0.000 FY 2009 Wishterries ® Com The Low Fares Faery Company
Slide 16: Car Market
as Ca r M a rket IRISH Content GROUP CAGR Irish Ferries +4% -1% 0% 2% 0% Republic of Ireland +3% 2% 0% -2% All Ireland +4% 1% 0% -2% lvishCerries @ Com: The Low Fares Ferry Company
Slide 17: Market Share - Cars
12 Market S hare “ Ca rs IRISH CONTINENTAL GROUP 000’s Republic of Ireland — UK & France 900.000 800.000 700.000 600.000 500.000 400.000 300.000 200.000 100.000 0.000 Others @ Irish Ferries FY 2009 lvishCerries SG Com: The Low Fares Ferry Company
Slide 18: RoRo Market
RoRo Market LG IRISH CONTINENTAL GROUP CAGR Irish Ferries -7% -13% -19% 6% | -1% Republic of Ireland +3% -13% -4% 0% All lreland +2% -10% -4% -1% lyishCerries @ Com: The Low Fares Ferry Company te 4, eos re
Slide 19: Market Share - RoRo
1 M a rket S h are - Ro Ro IRISH CONTINENTAL GROUP 000’s_ Republic of Ireland — UK & France 900.000 800.000 700.000 600.000 500.000 400.000 300.000 200.000 100.000 0.000 OO Others & Irish Ferries lrishfervies @cm: The Low Fares Ferry Company
Slide 20: Charters
C h a rte rs IRISH ContenwitAL GROUP e Pride of Bilbao and Kaitaki on charter to P&O e Pride of Bilbao operates Portsmouth — Bilbao e Kaitaki operates on sub-charter in New Zealand, charter fixed until mid 2013 e Charter of Pride of Bilbao ends October 2010 (171% years) ° Pride of Bilbao very flexib
Slide 21: Container & Terminal Division
Container & Terminal Division — teisu contemnwran Group Turnover 54.4 54.3 0.2% 111.5 Operating Costs 50.7 49.7 2.2% 99.9 EBITDA 3.7 4.6 -21.7% 11.0 Depreciation/Amortisation (1.4) (1.4) (3.2) Operating Profit 2.3 3.2 -28.1% 8.4 Container volumes up 9% at 204,000 teu Terminal volumes up 5% at 82,000
Slide 22: Container Routes
as Co nta | Nn e r Ro utes | IRISH Commmresren GROUP ICG owns and operates terminals in Dublin & Belfast. Other ports are operated by third parties. BELFAST @ FEEDER!
Slide 23: Operations
O pe rat O nN S IRISH CONTINENTAL GROUP ° 10 chartered vessels ° 3,400 owned containers °® 13 ports served (2 owned terminals) ° — Ireland / Continent - Door to Door plus Quay to Quay (feeder) ° — DFT Terminal in Dublin - Principal terminal in ROI ° BCT Terminal in Belfast ° —UK/ Continent - Quay to
Slide 24: Container Terminals - Dublin Ferryport Terminal
Container Terminals bers vom Grove = Dublin Ferryport Terminal (DFT) ° 150 year lease of 33 acres from 1972 ° Direct access to Port Tunnel / Motorway Network ° 480 metres of berths — 300m at 9.5m depth and 180m at 11m depth ° Recently completed investment programme in new cargo handling equipment °
Slide 25: Dublin Ferryport Terminal (DFT)
<x . F por Dublin Ferryport Terminal (DFT) IRISH CONTINENTAL GROUP
Slide 26: Container Terminals - Belfast Container Terminal
Container Terminals re ee = Belfast Container Terminal (BCT) ° 11.5 acre site area operated under licence from Port of Belfast ° 150m quay wall at 7.5m depth ° Recently completed investment programme in new cargo handling equipment ° Scope for further expansion BELFAST CONTAINER TERMINAL
Slide 27: Belfast Container Terminal (BCT)
Pe Belfast Container Terminal (BCT) IRISH CONTINENTAL GROUP
Slide 28: Container Handling
Container Handling Ith. sresn comeeran Grove Market Share 28% in 2009 CAGR -23% 0% 3% All Ireland -22% -9% -2%
Slide 29: Outlook
Outlook IRISH cone ea GROUP * RoRo volumes continue to be affected by weak economies, challenging trading environment continuing ° Car & passenger market more resilient, benefiting from air capacity reductions ° Unhedged on fuel, in line with historic practice * Chartering costs of container vessels
Slide 30: Ferries - Fleet Appendix
| 8 Ferries = Fleet IRISH CONTINENTAL GROUP APPENDIX FLEET
Slide 31: Ferries - Fleet
Ferries - Fleet Fe a ee es Jonathan Swift lvishCerries @ Com The Low Fares Ferry Company IRISH CONTINENTAL GROUP Year Built 2001 Cost €106m GT 50,900 tons PAX 1875 — Cars 1342 Lane Metres 4.1km Speed 22 knots | Year Built 1999 Cost €38m GT 6,000 tons PAX 800 Cars 200 Speed 39 knots
Slide 32: Ferries - Fleet
Ferries = Fleet | IRISH comm GROUP Isle of Inishmore Year Built 1997 Cost €81m GT 34,000 tons PAX 2200 Cars 855 Lane Metres 2.1km Speed 21.5 knots Oscar Wilde Year Built 1987 Percheae OT est GT 32,000 tons PAX 1458 Beds 1376 Cars 580 Lane Metres 1.2km Speed 21.5 knots lvishCerries @ Com: The Low Far
Slide 33: Ferries - Fleet
Ya Ferries - Fleet IRISH CONTINENTAL GROUP Pride of Bilbao Va aaae Purchased 1993 €71m , . GT 37,500 tons Sar SC Se PAX zs 2 7 Beds 2447 Cars 580 Lane Metres tkm Speed 22 knots Year Built 1995 Cost €62m GT 22,300 tons PAX 1650 Beds 274 Cars 600 Lane Metres 1.7km Speed 19 knots CONTINENTAL GROUP ee -
Irish Continental Group — H1 2010 Earnings Presentation on 6ix