Crossamerica Partners Lp · NYSE:CAPL

Crossamerica Partners Lp — Corporate Update (March 2015)

24 slides from Crossamerica Partners Lp's corporate update, Mar 4, 2015

  1. Slide 1: CST Brands, Inc Company Update March 2015

    CST Brands, Inc Company Update March 2015 CST CAP CROSSAMERICA PARTNERS L. P.

  2. Slide 2: Safe Harbor Statements

    CST CAP CROSSAMERICA PARTNERS L. P. 1 Safe Harbor Statements Forward-Looking Statements Statements contained in this presentation that state the Company’s or management’s expectations or predictions of the future are forward-looking statements are intended to be covered by the safe harbor provisions

  3. Slide 3: CST Consolidated Overview

    CST CAP CROSSAMERICA PARTNERS L. P. 2 CST Consolidated Overview • Spun from Valero Energy Corporation on May 1, 2013 • Ranks 266 in Fortune 500 for 2013 • One of the largest independent wholesaler and retailer of motor fuels and convenience merchandise in North America • Strong urban footprint, supp

  4. Slide 4: Our Footprint

    3 CST CAP CROSSAMERICA PARTNERS L. P. Our Footprint Ontario Quebec Atlantic 140 537 185 ME 8 MN NH 41 NY 21 WI 32 SD MA WY 8 12 MI 32 70 3 3 PA NJ CA OH 131 107 IN IL 76 DE 1 CO 3 8 WV 79 14 VA MD 1 138 83 KY 7 AZ OK TN 62 NM AR 50 2 38 27 Site Locations CST Service Centers TX 634 • US Retail – 1,04

  5. Slide 5: Our Family of Brands

    CST CAP CROSSAMERICA PARTNERS L. P. 4 Our Family of Brands Proprietary Brands Licensed Brands CORNER STORE NICE N EASY GROCERY SHOPPES VALERO BP EXXON GULF SUNOCO CITGO CHEVRON SASUPERAMERICA SUBWAY COUNTRY STYLE PIZZA PIZZA BURGER KING ESSO MOBIL ULTRAMAR FRESH CHOICES DEPANNEUR EXPRESS MART STOP I

  6. Slide 6: Our Business Strategy

    CST CAP CROSSAMERICA PARTNERS L. P. 5 Our Business Strategy Organic Growth Wholesale Business Growth • Grow organically through the construction of New- • Develop and expand our wholesale fuel distribution To-Industry Stores (NTIs) business Acquisitive Growth Merchandise Profit Growth • Grow our bus

  7. Slide 7: Our Value Creation

    CST CAP CROSSAMERICA PARTNERS L. P. 6 Our Value Creation SELLS CAP INVESTS CST RENT PAYMENTS NEW STORES

  8. Slide 8: Organic Growth

    CST CAP CROSSAMERICA PARTNERS L. P. 7 Organic Growth CST New-To-Industry (NTI) and Raze and Rebuild (R&R) Growth • MLP providing capital to fund high-return growth • US NTIs constructed 2008-2013 – 48 stores – $229 million in invested capital, inclusive of land – $101 million in EBITDA, through 12/3

  9. Slide 9: Acquisitive Growth (From Landmark Industries)

    CST CAP CROSSAMERICA PARTNERS L. P. 8 Acquisitive Growth (From Landmark Industries) 32 Company Operated 22 Company Operated 64 Company Operated 45 Franchisees Central New York San Antonio & Austin (MN, Upper WI, Midwest SD, MI) Nice N Easy (26) / Shell Freedom Valu / SuperAmerica Sunoco (6) Nov 1, 2

  10. Slide 10: Wholesale Business Growth

    CST CAP CROSSAMERICA PARTNERS L. P. 9 Wholesale Business Growth Benefits of Wholesale Competitive Strengths of CrossAmerica Fuels Business CrossAmerica Wholesale Dealers • Predominantly “fixed” • Prime real estate rate wholesale fuel locations 1160 margins • Long-term relationships 1074 • Limited ex

  11. Slide 11: Merchandise Profit Growth

    CST CAP CROSSAMERICA PARTNERS L. P. 10 Merchandise Profit Growth •US merchandise sales per store •US merchandise gross profit is •Opened 3x larger new Corner are up 5% from 2012 up 10% from 2012, despite Store Distribution Center in •Sales per store are up despite lower store count 1Q15 lower fuel v

  12. Slide 12: CST Key Metrics 2014

    CST CAP CROSSAMERICA PARTNERS L. P. 11 CST Key Metrics 2014 U.S. Retail Key Metrics (USD) Metrics 2014 2013 Core Stores (EOP) 989 1,036 Gross Profit (mm) 2014 2013 Motor Fuel Gallons (PSPD) 4,901 4,997 Motor Fuel $383 $262 Motor Fuel CPG (net of CC) 20.1¢ 14.0¢ Merchandise $405 $382 Merchandise Sale

  13. Slide 13: CST Key Metrics 2014 CrossAmerica

    12 CST CAP CROSSAMERICA PARTNERS L. P. CST Key Metrics 2014 CrossAmerica Key Metrics (USD) Metrics 2014 2013 Total Revenues from fuel sales (mm) $2.6 $1.9 Site Count 1,074 812 Gross Profit (mm) 2014 2013 Wholesale gallons distributed (mm) 888 638 Motor Fuel $69 $44 Wholesale margin cents per gallon

  14. Slide 14: CST Delight More Customers Everyday

    13 CST CAP CROSSAMERICA PARTNERS L. P. CST Delight More Customers Everyday

  15. Slide 15: Appendix

    14 CST CAP CROSSAMERICA PARTNERS L. P. Appendix

  16. Slide 16: CST/CrossAmerica Relationship on October 1, 2014

    15 CST CAP CROSSAMERICA PARTNERS L. P. CST/CrossAmerica Relationship on October 1, 2014 CST Brands, Inc. NYSE: CST 100% 100% 100% Ownership Ownership Ownership 100% Interest Interest Interest Ownership Interest Canadian Joseph V. Topper U.S. Retail Public Unitholders Retail & Affiliates 100% Ownersh

  17. Slide 17: U.S. Retail

    16 CST CAP CROSSAMERICA PARTNERS L. P. U.S. Retail Fuel Suppliers Merchandise Suppliers olesale Effective January 1, 2015, el CrossAmerica owns 5% of ness this business. y Operated Convenience Stores U.S. Retail On January 1, 2015, we closed on our first drop down of fuel supply equity interests to

  18. Slide 18: Canadian Retail

    CST CAP CROSSAMERICA PARTNERS L. P. 17 Canadian Retail Fuel Suppliers Merchandise Suppliers Wholesale fuel Business Operated Commission/Agent Heating Oil Cardlock Sites Convenience Sites Operations Stores Canadian Retail

  19. Slide 19: CrossAmerica

    CST CAP CROSSAMERICA PARTNERS L. P. 18 CrossAmerica Fuel Suppliers Independent Grocery Suppliers Wholesale Fuel Business Independent Affiliated Commission Non-Core U.S. Retail Sub-Lessee Dealers Dealers Dealers Agents Company Operated Segment Wholesalers Convenience Stores Real Estate Business Cross

  20. Slide 20: Financial Metrics – U.S. Retail

    CST CAP CROSSAMERICA PARTNERS L. P. 19 Financial Metrics – U.S. Retail U.S. Fuel Volume and CPG Margin (net) U.S. Merchandise & Other Sales and Margin % (Gallons per store per day) $0.201 (Sales per store per day) 33.4% 33.5% 33.8% 32.6% $0.147 32.0% $0.131 $0.139 $0.126 $3,533 $3,673 $3,479 $3,510

  21. Slide 21: Financial Metrics – Canadian Retail

    CST CAP CROSSAMERICA PARTNERS L. P. 20 Financial Metrics – Canadian Retail Canada Fuel Volume and CPG Margin (net) Canada Merchandise & Other Sales and Margin % (Gallons per store per day) $0.263 (Sales per store per day, CAD$) $0.229 $0.233 $0.238 $0.240 34.4% 33.8% 33.7% 32.2% 31.8% 3,223 3,320 3,

  22. Slide 22: Financial Metrics – CrossAmerica

    CST CAP CROSSAMERICA PARTNERS L. P. 21 Financial Metrics – CrossAmerica Wholesale Gallons Distributed (in millions) Wholesale Margin per Gallon (in cents) 906 $0.08 606 638 $0.07 $0.07 2012 2013 2014 Pro-Forma 2012 2013 2014 Dollar Value of 3rd Party Acquisitions (in millions) Fuel Supplied by Brand

  23. Slide 23: Incentive Distribution Rights

    CST CAP CROSSAMERICA PARTNERS L. P. 22 Incentive Distribution Rights If cash distributions to our unitholders exceed $0.5031 per unit in any quarter, CrossAmerica unitholders and the incentive distribution rights will receive distributions according to the following percentage allocations: Total Qua

  24. Slide 24: Successful New Store (NTI) Growth

    CST CAP CROSSAMERICA PARTNERS L. P. 23 Successful New Store (NTI) Growth • Developed a new store format to meet the growing needs of the growing convenience store consumer and emphasize higher margin offerings • Goals of the new format: – Develop an open, attractive, modern store that appeals to wid

CrossAmerica Partners — Corporate Update (March 2015) on 6ix