National Shipping Co. Of Saudi Arabia · TADAWUL:4030
National Shipping Co. Of Saudi Arabia — The National Shipping Company of Saudi Arabia (Bahri) — Investor Presentation (March 2012)
24 slides from National Shipping Co. Of Saudi Arabia's investor presentation, Mar 31, 2012
Slide 1: Bahri Profile
1 Bahri Gjwl Bahri Profile
Slide 2: Focused Vision
Focused Vision ˃ Connecting Economies, Sharing Prosperity and Driving Excellence in Global Logistics Services. Planning & Business Development 1
Slide 3: Time Line
Time Line Established National NCC ordered with Chemical Carriers (NCC) Hyundai Mipo for 4 as JV between BAHRI 80% Established JV (47000 dwt.) Tankers SABIC 20% Bahri DRYBULK, a JV “Mideast Ship for delivery 2007-08 Management Ltd” with ARASCO established Diversified into Established with RoRo Crude
Slide 4: Executives
Market update Executives Mr. Saleh Al- Jasser - Chief Executive Officer ˃ November, 2010 In charge of Bahri group’s overall business units. Experience of over 25 years in diverse industries. Holds Master’s in Business Administration and Bachelor’s degree in Industrial Engineering. Participated in ad
Slide 5: Executives
Executives ˃ Mr. Ahmed Al-Eidan- Asst. CEO (Board Secretariat & Communication) March, 1990 He is the BOD Secretariat as well as being in charge of Bahri Corporate Communication Department. His experience is mainly in the technical management and Internal Audit & Control. He holds an internal Auditor
Slide 6: Overview and Events
Overview and Events ˃ Founded in 1979 as a Public Company in Saudi Arabia ˃ Ownership Structure: ˃ Public Investment Fund owns 28% of shares. ˃ 72% free float. ˃ Total Assets as of 31st March 2012 SAR 10.7 Billion ˃ Market Cap as of 31st March 2012 SAR 5.5 Billion 5
Slide 7: Bahri operates 5 Business Units
Bahri operates 5 Business Units Oil & Gas Chemical Dry Bulk General Cargo Ship Management 6
Slide 8: Rank 6th VLCC owners Worldwide
Rank 6th VLCC owners Worldwide Oil ˃ Own 17 VLCC Double Hull. ˃ Average Age: 9 years. ˃ 15 in Spot Market. ˃ 2 in Time Charter- chartered to Hanjin. Gas ˃ Owns 30.3% in Petredec Limited- Liquefied petroleum Gas trader and ship owner. ˃ Petredec operates a total of 64 owned and charted in vessels of
Slide 9: Rank 6th VLCC owners Worldwide
Rank 6th VLCC owners Worldwide Number of DH VLCCs Owned: Sinotrans, 15 Fredriksen Group, 39 VELA, 15 A.P. Moller, 16 Overseas Shipholding,16 MOSK, 36 Bahri, 17 ANGELI, 21 NYK, 32 NIOC, 25 Source: Clarkson’s – April 2012 8
Slide 10: Rank 7th Tanker Dwt. Worldwide
Rank 7th Tanker Dwt. Worldwide ˃ Bahri operates in this segment through its subsidiary National Chemical Carrier (NCC). Joint venture 80% by Bahri and 20% SABIC. ˃ NCC owns 50% stake in NCC-Odfjell. ˃ Own 19 tankers (45,000) MT. 2013 ˃ Average Age- 6 years. 1 ˃ 3 in Bareboat (Capital Lease). ˃ 7 in
Slide 11: Rank 7th Tanker Dwt. Worldwide
Rank 7th Tanker Dwt. Worldwide 1289 1169 1088 889 858 846 844 781 738 684 Tokyo Marine A.P. Moller Odfjell ASA MISC BLT Capital NCC Eitzen Group Stolk Nielsen Formosa Co.Ltd Chembulk Maritime Ltd Plastics Note: The total DWT after delivery completion of all new building will reach 1,142 DWT. Source:
Slide 12: New RoCon Fleet under Construction
New RoCon Fleet under Construction ˃ Own 4 Multipurpose ships. ˃ Average Age: 29 years. ˃ Operate between the US/Canada, East Coast and Indian Subcontinent passing through Saudi Arabia. Q4 2012 1 ˃ 6 RoCon ships are under construction with Hyundai MIPO in South Korea. 2013 1 2014 ˃ Signed a contract
Slide 13: Diversification- Entry in the Dry Bulk
Diversification- Entry in the Dry Bulk ˃ Bahri (60%) joint venture agreement with ARASCO (40%) with a capital of SAR 200 million and total investment of about SAR 656 million reaching up to SAR 1.3 billion during three years operation. ˃ Signed a contract to construct 5 Kamsarmax bulk carriers. 2013
Slide 14: Ship Management
Ship Management ˃ Mideast Ship Management is a technical manager owned 100% by Bahri and based in Dubai, UAE. ˃ This management company works exclusively for the Bahri fleet, using highly qualified shipping professionals to ensure that the vessels are operated to the high standards of quality servic
Slide 15: Business Units Ventures
Business Units Ventures ˃ NCC – ODFJELL Chemical Tankers JLT. ˃ General Cargo Contract with Ministry of Defense (MOD). ˃ General Cargo Contract with Qatar Aluminum (QATALUM). 14
Slide 16: Transparent
Transparent Won the most transparent Saudi Public Company Award 2010 15
Slide 17: Competitive Advantage
Competitive Advantage ˃ Young and growing fleet ˃ In-house commercial and technical expertise. ˃ Financially well positioned to support growth plans. ˃ Competitively lower operating cost. 16
Slide 18: Segment Operating Profit Contribution
Segment Operating Profit Contribution General Cargo (17)% General Cargo 1% Chemical Chemical 27% 45% 74% 72% Oil & Gas Oil & Gas Quarter 1, 2012 Quarter 1, 2011 Oil & Gas Chemical General Cargo Oil & Gas Chemical General Cargo 133 49 (2) 47 29 (11) (SAR Million) (SAR Million) 17
Slide 19: Strong Cash Position and Generation
Strong Cash Position and Generation Cash & Cash equivalents as of 31st March, 2012 SAR 374 Million CASH FROM OPERATIONS 93 Q1 2012 2011 377 2010 782 2009 437 2008 1,142 150 400 600 800 1000 SAR Millions 18
Slide 20: Sustainable Profitability
Sustainable Profitability 3,000 Revenue Op. Income Net Income 2,500 2,000 SAR Millions 1,500 1,000 500 2,595 2,050 1,672 1,992 288 160 151 169 632 415 448 961 759 369 372 0 2008 2009 2010 2011 Q1 2012 19
Slide 21: Strong Balance Sheet
Strong Balance Sheet 12,000 Total Asset Equity 10,000 8,000 SAR Millions 6,000 4,000 10,337 10,598 9,966 10,734 9,819 2,000 5,225 5,091 5,090 4,988 5,063 0 2008 2009 2010 2011 Q1 2012 20
Slide 22: Consistent Dividends Payout
Consistent Dividends Payout EPS DPS DPR 2.5 90 80 2 70 60 1.5 50 % SAR 40 1 30 0.5 20 10 0 0 2007 2008 2009 2010 2011 Q1 2012 21
Slide 23: Conclusion
Conclusion Bahri continues to strive toward tomorrow’s horizon Driven Relentless Transparent Considered 22
Slide 24: Thank You!
Thank You! If you have any comments or suggestions contact: Investorrelations@bahri.sa
The National Shipping Company of Saudi Arabia (Bahri) — Investor Presentation (March 2012) on 6ix