Ocean Yield ASA — Pareto Securities Energy Conference 2020
10 slides from Ocean Yield ASA's conference presentation, September 2020
Slide 1: Pareto Securities Energy Conference
PARETO SECURITIES ENERGY CONFERENCE September 2020
Slide 2: Ocean Yield ASA | A Ship Leasing Company
OCEAN YIELD ASA | A SHIP LEASING COMPANY Ship leasing company listed on Oslo Stock Exchange COMPANY Aker ASA as majority shareholder Modern diversified fleet of 69 vessels FLEET Average age of only 4.0 years Average contract tenor of 10.3 years EMPLOYMENT EBITDA contract backlog of USD 3.2bn Strong
Slide 3: Attractive Market for New Ship-Leasing Transactions
ATTRACTIVE MARKET FOR NEW SHIP-LEASING TRANSACTIONS • Reducing shipping exposure BANKS • Focus on large and diversified companies • Focus on other products than lending • Market is more expensive and increasingly selective BONDS • Only open for the large companies • The equity market is expensive EQ
Slide 4: Investment Strategy
INVESTMENT STRATEGY Modern & Eco-friendly Long-term Reputable Multi VESSELS CHARTERS COUNTERPARTIES SEGMENT
Slide 5: Significant Growth and Diversification Since Start-up
SIGNIFICANT GROWTH AND DIVERSIFICATION SINCE START-UP
Slide 6: Well Diversified Fleet & Contract Backlog
WELL DIVERSIFIED FLEET & CONTRACT BACKLOG EBITDA1 BACKLOG OF USD 3.2 BILLION TO 18 COUNTERPARTIES FLEET2 Oil-service Product / chemical 19 Container vessels 13% 24% Dry bulk 16 Car carriers 7% Container vessels 10 Avg. remaining Crude 9 Gas carriers charter tenor of 7% 10.3 years Oil-service 8 Dry b
Slide 7: Impairments of Offshore Assets in Q3 2020
IMPAIRMENTS OF OFFSHORE ASSETS IN Q3 2020 DHIRUBHAI-1 • In lay-up pending new employment • Projects are currently being evaluated and the work are FPSO continuing • Expects to record an impairment of USD 95m in Q3 2020 • Vessel book value of USD 51m post-impairment CONNECTOR OFFSHORE • Currently ope
Slide 8: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS EBITDA ADJUSTED FOR FINANCE LEASES, CONTINUED OPERATIONS (USDM) ADJUSTED NET PROFIT, CONTINUED OPERATIONS (USDM) *Comparative information has been re-presented due to a discontinued operation. **Q2 2020 EBITDA adjusted for insurance proceeds
Slide 9: Summary
SUMMARY Stable cash flow from portfolio of modern vessels on long-term CASH FLOW charters Strong cash position BALANCE SHEET Robust equity ratio also post impairments INVESTMENTS Attractive market for new leasing transactions ESG Modern fleet with low climate footprint DIVIDENDS Intention to pay sta
Slide 10: Investor Relations
INVESTOR RELATIONS Marius Magelie, SVP Finance & Investor Relations +47 24 13 01 82 mm@oceanyield.no www.oceanyield.no/IR
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