Infratil Limited · NZX:IFT
Infratil — Investor Day (March 2013)
10 slides from Infratil's investor day presentation, Mar 8, 2013
Slide 1: Foundations in place for the next phase
Foundations in place for the next phase Infratil Investor Day 8 March 2013
Slide 2: Accomplishments in the past three years
Accomplishments in the past three years • Transition to stand alone company • Supply capability yielding benefits • ERP and customer facing technology upgraded • Retirement of Shell and the establishment of Z as the most preferred brand • Capital efficiency through value engineering • Rollout of new
Slide 3: The drivers for changes to industry structure and related agreements remain
The drivers for changes to industry structure and related agreements remain
Slide 4: There are still opportunities from a changing industry structure and related agreements
There are still opportunities from a changing industry structure and related agreements Signs of progress • Capital recovery charge agreed through Z’s bilateral agreements, not fully between all other players nor charges always passed to customers • More inter company ‘sales’ rather than strictly bo
Slide 5: Brand and customer service metrics
Brand and customer service metrics Current Jan 2013 June 2012 Nov 2011 Ranking Behavioural preference #1 21% 15% 2% Unprompted awareness #2 78% 71% 59% Attitudinal first choice #1 30% 22% 9% Raving fans #1 31% 25% 18% Service #1 49% 43% 37% Food and coffee #2 35% 33% 29%
Slide 6: Margin changes in recent years are driven by structural changes rather than reduced competition
Margin changes in recent years are driven by structural changes rather than reduced competition 35 30 ‘Booming’ upstream and refinery margins Oil > US$100/bbl 25 20 15 Smartfuel 10 launches Supermarket 5 dockets Shell NZ sold 0 23/04/2004 23/08/2004 23/12/2004 23/04/2005 23/08/2005 23/12/2005 23/04/
Slide 7: Arguably Z is an effective integration of two companies
Arguably Z is an effective integration of two companies Infrastructure Marketing • Four majors • Four majors plus six other brands • Assets: RNZ shareholding, crude • Assets: products working capital, working capital, coastal ships, freehold property, leases, plant and terminals, JV agreements equip
Slide 8: Z is disciplined and rigorous in its management of strategy and growth options
Z is disciplined and rigorous in its management of strategy and growth options Board approved the current Strategy program in November 2010 • Focus on optimising acquired assets for the first three years • Drive towards preferred industry structure and competitor landscape • Lay down options for fut
Slide 9: There are three pathways to growth
There are three pathways to growth Internal growth • Crude and product procurement, coupled with working capital management • Optimise commercial portfolio • Investment in 40ml of tankage at Mt Maunganui and Lyttelton • Have scale rewarded through ‘commercial’ industry agreements Competitive growth
Slide 10: Z's intended positioning
Z’s intended positioning • An essential infrastructure industry supplying a large part of New Zealand’s liquid fuel requirements • A market leader with scale and a tightly integrated operating model, who is prepared to invest • An experienced management team with a track record of managing change an