Exmar Nv · EURONEXT:EXM
Exmar Nv — Shareholder Meeting (May 2022)
22 slides from Exmar Nv's shareholder meeting presentation, May 17, 2022
Slide 1: General Meeting EXMAR
General Meeting – May 17, 2022 GENERAL MEETING EXMAR May 17, 2022 1 © EXMAR. All rights reserved
Slide 2: Speakers
General Meeting – May 17, 2022 Speakers Nicolas Saverys Francis Mottrie Christine Verhaert Emma Scheiris Executive Chairman Chief Executive Officer Chief Financial Officer Head of Corporate HSEQ at EXMAR Ship Management 2 © EXMAR. All rights reserved
Slide 3: Agenda
General Meeting – May 17, 2022 Agenda 01 EXMAR highlights 02 Infrastructure 03 Shipping 04 Financials 05 Corporate & strategic focus 3 © EXMAR. All rights reserved
Slide 4: EXMAR highlights
General Meeting – May 17, 2022 EXMAR highlights EXMAR in short Ready for the challenges of tomorrow’s world • Listed on Euronext Brussels (EXM.BB) BUSINESS • Contract signed with GASUNIE for 5-year charter FSRU S188 (2022) • Firm ongoing discussions regarding employment TANGO FLNG • Evolution from s
Slide 5: EXMAR assets and services: Infrastructure
General Meeting – May 17, 2022 EXMAR assets and services Integrated provider of gas transportation and transformation solutions INFRASTRUCTURE Assets 1 FLNG 1 FSRU 2 accommodation (barge-based) (barge-based) barges Achievements • Pioneer in FSRU (2005) and STS Transfer (2006) • Developed OPTI and FA
Slide 6: Infrastructure - Oil & Gas market update
General Meeting – May 17, 2022 Infrastructure - Oil & Gas market update New era of energy autonomy – security of supply Oil Prices Gas/ LNG Prices Drivers • Highest oil prices ever since 2014 • Highest LNG prices ever • Underinvestment over past decade • Brent> 110 USD /bbl • TTF around ~ 30 US$/mmb
Slide 7: Infrastructure highlights
General Meeting – May 17, 2022 Infrastructure highlights Re-employment efforts on the right track! Highlights • New 5-year charter for the employment of FSRU S188 with GASUNIE as floating LNG import terminal at Eemshaven in the Netherlands • Award of engineering and design of fourth semisubmersible
Slide 8: Infrastructure LNG barges
General Meeting – May 17, 2022 Infrastructure LNG barges Strong value proposition by offering cost efficient quick to market solutions Outlook • LNG and Natural Gas are considered as the transition fuel for the decarbonisation of the energy supply • Stability of energy supply in terms of volumes and
Slide 9: Infrastructure - Eemshaven LNG
General Meeting – May 17, 2022 Infrastructure - Eemshaven LNG High Level Project Overview Customer Overview • GASUNIE is a Dutch natural gas infrastructure and transportation company operating in the Netherlands and Germany • GASUNIE owns the Netherlands gas transmission network with a total length
Slide 10: Eemshaven LNG on her way to the Netherlands
General Meeting – May 17, 2022 Infrastructure - Eemshaven LNG Eemshaven LNG on her way to the Netherlands © EXMAR. All rights reserved 10
Slide 11: EXMAR assets and services: Shipping
General Meeting – May 17, 2022 EXMAR assets and services Integrated provider of gas transportation and transformation solutions SHIPPING Assets 10 Fully pressurized LPG carriers 19 Midsize LPG carriers 3 Very Large Gas carriers 1 LNG carrier Achievements • Largest Owner in the Midsize LPG/Ammonia se
Slide 12: Shipping: LPG segment overview - outlook
General Meeting – May 17, 2022 Shipping LPG segment overview - outlook Strong contract portfolio - leader in future proof ammonia transportation 2022 Charter Coverage 10 • Strong JV partner in Seapeak (former Teekay) on Fully pressurized 76 % Midsize LPG LPG Carrier • Solid overall contract portfoli
Slide 13: Shipping: bearish LNG shipping market
General Meeting – May 17, 2022 Shipping Despite the high LNG prices bearish LNG shipping market • Higher demand for LNG from Europe to replace Russian natural gas • Reduced demand from China due to COVID impact • Higher LNG costs refrain some developing countries to import LNG • Sailing distance fro
Slide 14: Shipping: strong LPG fundamentals
General Meeting – May 17, 2022 Shipping Strong LPG fundamentals despite growing orderbook VLGC and MGC TC rates (1000 $/month) Pressurised TC rates (1000 $/month) Continued strong performance for VLGC and MGC expected for 2022 Pressurized shifted to TC market post COVID-19 • Over 20 NB VLGCs expecte
Slide 15: EXMAR assets and services: Supporting services
General Meeting – May 17, 2022 EXMAR assets and services Integrated provider of gas transportation and transformation solutions SUPPORTING SERVICES • EXMAR Shipmanagement • BEXCO • EXMAR Offshore • DV Offshore • MARPOS • I.M.A. • Travel PLUS • EXMAR Yachting © EXMAR. All rights reserved 15
Slide 16: 2021 financial highlights
General Meeting – May 17, 2022 EXMAR 2021 financial highlights Transitional year REVENUE / PROFIT Decrease in 2021 as a result of one-time settlement fee YPF recognized in 2020 (USD 149 million) and unemployment of the TANGO FLNG, partially offset by early termination fee USD 56.8 million FSRU S188
Slide 17: Financial highlights: transitional year 2021
General Meeting – May 17, 2022 EXMAR financial highlights Transitional year 2021 Key financials - proportionate consolidation GROUP 2020 2021 Q1-2022 (in million USD) (audited) (audited) (unaudited) Revenue 384.2 247.0 45.7 EBITDA 239.9 113.6 14.7 Adjusted EBITDA 77.7 56.2 13.5 Operating result (EBI
Slide 18: Financial highlights: liquidity position & financing
General Meeting – May 17, 2022 Financial highlights Liquidity position & financing • New 3-year credit facility of USD 50 million • Extension existing EUR 18 million credit facility and increase up to EUR 30 million upon employment of one of the barges • Repurchase NOK 137 million of the NOK bond ma
Slide 19: EXMAR stock (Euronext: EXM)
General Meeting – May 17, 2022 EXMAR stock (Euronext: EXM) Past year – positive outlook recognized by the market © EXMAR. All rights reserved 19
Slide 20: Environmental Social Governance
General Meeting – May 17, 2022 Environmental Social Governance Care for today, respect for tomorrow Main changes compared to 2020 • Updated ESG business principles • Set up of an ESG taskforce Multidisciplenary and supported by Board of Directors • EXMAR Materiality analyses based on stakeholder a
Slide 21: ESG Projects
General Meeting – May 17, 2022 EXMAR ESG Projects Decarbonisation Sustainability • As a minimum comply with IMO targets to (versus reference year 2008): • Monitor and implement innovations in the shipping industry (potable Reduce average CO2 emissions per transport work by 40% by 2030 water founta
Slide 22: Thank you for your attention
General Meeting – May 17, 2022 Thank you for your attention WWW.EXMAR.BE © EXMAR. All rights reserved 22