Cmb.tech Nv · EURONEXT:CMBT

Cmb.tech Nv — Euronav — Q2 2019 Earnings Presentation

11 slides from Cmb.tech Nv's earnings presentation, 2019

  1. Slide 1: Earnings Call Q2 2019

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  2. Slide 2: Forward Looking Statements

    FORWARD LOOKING STATEMENTS Matters discussed in this presentation may constitute forward-looking statements under U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the Company’s current views with respect to future events

  3. Slide 3: Content

    CONTENT 1. Q2 2019 HIGHLIGHTS 2. FINANCIAL REVIEW 3. CURRENT THEMES 4. OUTLOOK 5. Q&A 3

  4. Slide 4: Highlights Q2 2019

    HIGHLIGHTS Q2 2019 30000 VLCC 25000 P&L B/E • Anticipated Q2 seasonal freight rate weakness 20000 Q2 19 • Large crude tanker market fundamentals constructive into the winter USD/day 15000 Q2 • Share buybacks total USD 29m (13c per share) during first half 18 • Dividend of USD 6c for 1h 2019 to be pa

  5. Slide 5: Financial Highlights – Income

    FINANCIAL HIGHLIGHTS – INCOME First Second First First • Anticipated (in thousands of USD) quarter quarter semester semester weakness 2019 2019 2019 2018 during Q2 following Revenue 232,589 169,347 401,936 202,748 Other operating income 2,039 1,121 3,160 2,133 resilient freight market in Q1 Voyage e

  6. Slide 6: Financial Highlights – Balance Sheet

    FINANCIAL HIGHLIGHTS – BALANCE SHEET 2019 2018 HIGHLIGHTS (in $ million) Jun-19 Dec-18 Cash 203.6 173.0 Restricted cash Other current assets 0.0 413.0 0.1 348.0 1 Leverage Long term assets: 46.0% marked to market Newbuildings 0.0 0.0 Vessels 3,340.8 3,520.1 Other long term assets 158.6 86.2 (46.7% b

  7. Slide 7: Challenging headwinds in Q2 but export growth re-emerging

    CHALLENGING HEADWINDS IN Q2 BUT EXPORT GROWTH RE-EMERGING AS EXIT INTO Q3 AG exports mom change US exports mom change Net 1,000 800 Thousamds of barrels exported month on month change 600 400 200 0 -200 -400 -600 -800 -1,000 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun 19 Source: Bloo

  8. Slide 8: VLCC ordering near 5 year lows

    VLCC ORDERING NEAR 5 YEAR LOWS RESTRICTED CONTRACTING IN LARGE TANKERS 80 70 Number of VLCCs ordered over rolling 12 months 60 50 40 30 20 10 0 Jul 14 Jan 15 Jul 15 Jan 16 Jul 16 Jan 17 Jul 17 Jan 18 Jul 18 Jan 19 Jul 19 Source: Clarksons 8

  9. Slide 9: IMO 2020 disruption to bite in 2H 19

    IMO 2020 DISRUPTION TO BITE IN 2H 19 RETROFITTING COULD REDUCE FLEET DAYS BY 3-5% 60 50 Number of vessels retrofitting per quarter 40 30 20 10 0 Q3 2019 Q4 2019 Q1 2020 Q2 2020 VLCC Suez Source: Clarksons

  10. Slide 10: Outlook

    OUTLOOK RESILIENT Q1 – HEADWINDS TO TAILWINDS FOR 2H Demand for Supply Ton miles & Vessel Euronav Oil IMO 2020 Supply Balance of Oil sheet Robust US v Saudi Positive IMO to help Flexibility from Q4 Change No change No change No change No Change No Change 10

  11. Slide 11: Q&A

    Q&A 11

Euronav — Q2 2019 Earnings Presentation on 6ix