Matson, Inc. · NYSE:MATX
Matson — Investor Presentation (January 2021)
17 slides from Matson's investor presentation, Jan 13, 2021
Slide 1: Investor Presentation January 13, 2021
1 Investor Presentation │January 13, 2021 Investor Presentation January 13, 2021
Slide 2: Forward-Looking Statements
2 Investor Presentation │January 13, 2021 Forward-Looking Statements Statements made during this presentation that set forth expectations, predictions, projections or are about future events are based on facts and situations that are known to us as of January 13, 2021. We believe that our expectatio
Slide 3: Matson: At-a-Glance
3 Investor Presentation │January 13, 2021 Matson: At-a-Glance OCEAN TRANSPORTATION • A leading U.S. carrier in the Pacific • Lifeline to economies of Hawaii, Alaska, Guam and other Pacific islands • Niche, premium, expedited services from China to Southern California • 35% ownership in SSAT that ope
Slide 4: Matson Today: Connecting the Pacific
4 Investor Presentation │January 13, 2021 Matson Today: Connecting the Pacific
Slide 5: Investment Highlights
5 Investor Presentation │January 13, 2021 Investment Highlights Unique Network Connecting the Pacific • Providing critical supply lifelines to economies throughout the Pacific • Strong market positions in attractive niche markets with multi-decade customer relationships • Dual head-haul economics on
Slide 6: Hawaii Service
6 Investor Presentation │January 13, 2021 Hawaii Service • 5 U.S. West Coast departures and 3 arrivals in Honolulu per week • Dedicated neighbor island barge service Overview of Service Matson’s Focus • Maintain best-in-class on-time arrival and cargo availability • Dedicated terminals and fully- in
Slide 7: China Service
7 Investor Presentation │January 13, 2021 China Service • 2 weekly services from Ningbo/Shanghai to Long Beach – CLX: started in 2005 – CLX+: started in May 2020 – Feeder services from other Asian port origins • CLX and CLX+ are premium services providing an alternative to deferred air freight and o
Slide 8: CLX+ Service
8 Investor Presentation │January 13, 2021 CLX+ Service Matson is confident the CLX+ service will be permanent. • 15-year track record of operating the industry leading expedited CLX service • Introduction of Alaska-to-Asia Express (AAX) helps lower the long-term breakeven economics • Favorable macro
Slide 9: CLX+ and the Alaska-Asia Express
9 Investor Presentation │January 13, 2021 CLX+ and the Alaska-Asia Express On August 26th, Matson announced the introduction of the AAX as a backhaul service on the CLX+ • Important route for Alaska seafood exports to Asia • Connecting service from Anchorage and Kodiak via Matson’s domestic Alaska s
Slide 10: Alaska Service
10 Investor Presentation │January 13, 2021 Alaska Service • Twice weekly service to Anchorage and Kodiak • Weekly service into Dutch Harbor • Matson is the only U.S. containership operator serving Kodiak and Dutch Harbor Overview of Service Matson’s Focus Current 3-Ship Deployment • Maintain excelle
Slide 11: Guam Service
11 Investor Presentation │January 13, 2021 Guam Service • Weekly service to Guam as part of CLX service • 3-to-5 day ocean transit advantage from U.S. West Coast Overview of Service Matson’s Focus • Maintain superior service and on-time performance • Fight for every piece of freight Market Overview
Slide 12: SSAT Joint Venture
12 Investor Presentation │January 13, 2021 SSAT Joint Venture • Matson owns a 35% interest in SSA Terminals, LLC (SSAT), the leading U.S. West Coast terminal operator – SSAT currently provides terminal and stevedoring services to carriers at 7 terminal facilities Overview SSAT is the best operator o
Slide 13: Matson Logistics
13 Investor Presentation │January 13, 2021 0% 1% 2% 3% 4% 5% 6% 7% 8% $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 2015 2016 2017 2018 2019 LTM Operating Income Margin Operating Income ($ in millions) Operating Income Operating Income Margin Matson Logistics Note: Acquired Span Alaska in 3Q 2016. (As of 9/
Slide 14: Span Alaska Overview
14 Investor Presentation │January 13, 2021 Span Alaska Overview • Receives LCL freight in Auburn, WA for consolidation and shipment to Alaska • Network of terminals enables transport of freight to all major population centers in AK • Matson’s largest northbound freight customer
Slide 15: Strong Cash Flow Generation and Balance Sheet
15 Investor Presentation │January 13, 2021 Strong Cash Flow Generation and Balance Sheet Cash Flow Generation Leverage = Total Debt(1) / EBITDA(2) • Weighted average cost of debt at end of 3Q20 was approximately 2.64% • Completed two Title XI transactions in 2Q20 • Target “low 2xs” leverage • Delive
Slide 16: Appendix
16 Investor Presentation │January 13, 2021 Appendix
Slide 17: Appendix – Non-GAAP Measures
17 Investor Presentation │January 13, 2021 Appendix – Non-GAAP Measures Matson reports financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company also considers other non-GAAP measures to evaluate performance, make day-to-day operating decisions, help in