Exmar Nv · EURONEXT:EXM

Exmar Nv — Pareto Oil and Gas Conference 2018

23 slides from Exmar Nv's conference presentation, September 2018

  1. Slide 1: Exmar Pareto Oil and Gas Conference 2018

    Exmar Pareto Oil and Gas Conference 2018

  2. 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”)

  3. Slide 3: Executive Summary

    > EXECUTIVE SUMMARY

  4. Slide 4: Executive Summary: Rough Seas Make Good Sailors

    EXECUTIVE SUMMARY ROUGH SEAS MAKE GOOD SAILORS  LPG fleet performing despite challenging market conditions thanks to solid contract portfolio with 1st class LPG customers and smooth operations.  Long-term charter agreement secured for two LPG fuelled 80,200 m³ newbuild gas carriers with Equinor to

  5. 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

  6. Slide 6: EXMAR LPG: Innovation and Partnership

    EXMAR LPG: Innovation and Partnership

  7. 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

  8. Slide 8: Highlights and Outlook

    Highlights and Outlook Midsize fleet • One of the most fuel-efficient midsize fleet 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 83% for 2018. VLGC fleet • Spot market almost

  9. Slide 9: Creating value through the LNG value Chain

    Creating value through the LNG value Chain

  10. 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 FSRU barge

  11. Slide 11: Highlights and Outlook 2018

    Highlights and Outlook 2018 Monetisation of LNG portfolio • Sale 50% of EXCEL in October 2017 • FRSU’s EXCELERATE (138,000 m³- 2006 built), EXPLORER (150,900 m³- 2008 built), EXPRESS (150,900 m³ - 2009 built) and EXCELSIOR (138,000 m³- 2005 built) operated under long-term charter were acquired by Ex

  12. Slide 12: EXMAR Offshore: Unlocking Untapped Values

    EXMAR Offshore: Unlocking Untapped Values

  13. 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

  14. 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 December 2018. • Outlook for 2019 is positive with new fields entering productio

  15. Slide 15: Support Services: the Power of Innovation

    Support Services: the Power of Innovation

  16. 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

  17. Slide 17: Highlights and Outlook

    Highlights and Outlook Support Services • EXMAR Shipmanagement has currently 88 vessels under management (compared to 46 in 2016) focusing on niche markets • TRAVEL PLUS: An upturn in bookings from both existing and new clients made for an encouraging 2017 result which saw a year-on-year turnover gr

  18. Slide 18: Financial Overview

    > Financial Overview

  19. Slide 19: Financial Highlights & Outlook 2018

    Financial Highlights & Outlook 2018 (In USD millions unless otherwise Comments stated) 2016 2017 H1/2018  LPG:  EXMAR continues to secure employment on its MGC fleet but at lower rates than 2017. The fleet cover is 83% for 2018. Operating Income 305.9 328,6 88.6  VLGC market fundamentals are reco

  20. Slide 20: Committed Capex

    Committed Capex CAPEX schedule  2 VLGCs to be delivered in 2020  Financing not yet in place but discussions ongoing including (partial) pre-delivery financing. * 50/50 JV with Teekay LNG Partners. EXMAR capex commitments only account to 50% of capex

  21. Slide 21: 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 1,000m expiring in July 2019  Balloon due for the Excalibur in November 2019 will be refinanced on the ba

  22. Slide 22: Key Lending Considerations

    Key Lending 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 liquefa

  23. Slide 23: Thank you for your attention

    Thank you for your attention © EXMAR, all rights reserved 23

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