Pbf Energy Inc. · NYSE:PBF
Pbf Energy — Investor Presentation (March 2018)
14 slides from Pbf Energy's investor presentation, March 2018
Slide 1: PBF Energy
PBF Energy PB March 2018
Slide 2: Safe Harbor Statements
Safe Harbor Statements This presentation contains forward-looking statements made by PBF Energy Inc. (“PBF Energy”), the indirect parent of PBF Logistics LP (“PBFX”, or “Partnership”, and together with PBF Energy, the “Companies”, or “PBF”), and their management teams. Such statements are based on c
Slide 3: PBF – A Compelling Investment
PBF – A Compelling Investment Second most complex independent refiner with geographically diverse footprint Attractive Crude and feedstock optionality provides access to most economic input slate Asset Base Strategic relationship with PBF Logistics (NYSE:PBFX) provides growth partnership Lon
Slide 4: Attractive Asset Diversification and Growth
Attractive Asset Diversification and Growth PBF's core strategy is to operate safely, reliably and responsibly Toledo PADD Pursue disciplined growth strategy through PADD 4 Paulsboro strategic refining and logistics acquisitions PADD 5 2 and development of organic projects PADD 1 Delaware City
Slide 5: Torrance Refinery – Focus on Operations
Torrance Refinery – Focus on Operations Focus on stable and reliable operations • Executed first major turnarounds in the second quarter of 2017 • Putting the right team in place to execute Achieving operating expense reductions due to improved reliability Margin enhancement • Increased rack t
Slide 6: Chalmette Refinery – Optimization Continues
Chalmette Refinery – Optimization Continues Continuing to enhance the asset Invested ~$100 million in margin improvement projects • Restarted idled reformer, hydrotreater and light-ends recovery plant • Upgrades unfinished naphtha to high- value clean products • Completed crude storage project i
Slide 7: Mid-Continent and East Coast Operations
Mid-Continent and East Coast Operations Toledo, Ohio • Processes WTI-based light crude oil and Canadian Mid-Continent syncrude which produces a high-value clean product yield including gasoline, ultra-low sulfur diesel and a variety petrochemicals including nonene, xylene, tetramer and toluene • C
Slide 8: PBFX – A Strategic and Valuable Partner
PBFX – A Strategic and Valuable Partner PBF indirectly owns 100% of the general partner Summary of Executed Drop-Downs* and ~44% of the limited partner interests of PBF Projected Projected Gross Logistics LP (NYSE: PBFX) Announcement Asset Annual Net Annual Sale Date Income EBITDA Price ($mm) ($mm
Slide 9: PBFX’s Growing Asset Base is Ideally Situated
PBFX’s Growing Asset Base is Ideally Situated Assets support the operations of all five of PBF Mid-Continent Assets Toledo Storage Facility Energy’s refineries Toledo LPG Truck Rack Toledo Truck Terminal • Approximately 255 million barrels of annual Toledo Products Terminal refining capaci
Slide 10: Macro Landscape Outlook
Macro Landscape Outlook Abundant global supply of crude oil • Increasing North American production • OPEC cuts driving near-term tightness in L-H spread Global product demand expected to outpace refinery capacity utilization and additions • Global products inventories have reverted to the norm fro
Slide 11: Appendix
PBE Appendix >
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures Our management uses EBITDA (earnings before interest, income taxes, depreciation and amortization) as a measure of operating performance to assist in comparing performance from period to period on a consistent basis and to readily view operating trends, as a measure for p
Slide 13: PBF Energy 2018 Guidance
PBF Energy 2018 Guidance (Figures in millions except per barrel amounts) FY 2018E Q1-2018E East Coast Throughput 330,000 – 350,000 bpd 330,000 – 350,000 bpd Mid-Continent Throughput 150,000 – 160,000 bpd 125,000 – 135,000 bpd Gulf Coast Throughput 175,000 – 185,000 bpd 180,000 – 190,000 bpd West Coa
Slide 14: PBFX 2018 Guidance
PBFX 2018 Guidance ($ in millions) FY 2018 Initial Guidance Revenues $276.2 Operating expenses $86.5 SG&A (includes stock-based comp. expense for outstanding awards) $16.2 D&A $26.0 Interest expense, net $39.4 Net Income $108.1 EBITDA to the Partnership $150.8 Maintenance capital expenditures $11.0