Maybulk Bhd · MYX:MAYBULK

Maybulk Bhd — Malaysian Bulk Carriers Berhad — FY2012 Earnings Presentation

18 slides from Maybulk Bhd's earnings presentation, February 2013

  1. Slide 1: 1

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  2. Slide 2: Results 2012

    fs Results 2012 SF Malaysian Bulk ay Carriers Berhad «7:5053.w)

  3. Slide 3: Commercial Highlights: Fleet Composition

    Commercial Highlights 3  Fleet Composition - as at 31 Dec 2012  Tanker  Product Tanker (3 vessels)  Bulk Carriers  142,129 DWT  Post-Panamax (5 vessels)  435,260 DWT  Supramax (5 vessels)  Grand-total  276,009 DWT  1,009,700 DWT  Handysize (5 vessels)  156,302 DWT

  4. Slide 4: Commercial Highlights: Fleet Utilization

    Commercial Highlights 4  Fleet Utilization Fleet utilization represents the number of on hire days over the number of available days less docking days 99.5% 99.0% 98.5% 98.0% 97.5% 97.0% 2011 2012 Fleet Utilization 98.1% 99.4%

  5. Slide 5: Commercial Highlights: New vessel deliveries and newbuildings

    Commercial Highlights 5  The Group took delivery of 3 new vessels in 2012  1 Handysize vessel (Alam Suria)  2 Supramax vessels (Alam Mutiara & Alam Maju)  Newbuildings  1 Supramax vessel (61,000 mt) – Estd Dely Jun 2013  1 Supramax vessel (55,600 mt) – Estd Dely Q2 2015  1 Supramax vessel (61

  6. Slide 6: Commercial Highlights: TCE Earnings Composition and Profit Before Tax

    Commercial Highlights 6  TCE Earnings Composition  Profit Before Tax RM'million RM'million 800 600 700 10% 500 525.75 600 400 500 400 300 12% 300 90% 248.26 244.37 18% 200 14% 200 88% 82% 22% 100 100 86% 111.49 78% 66.45 0 0 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Bulkers Tankers

  7. Slide 7: Commercial Highlights: Fleet Size and Revenue Days

    Commercial Highlights 7  Fleet Size and Revenue Days Fleet Size Revenue Days 1,200,000 7,000 1,000,000 6,000 800,000 5,000 600,000 4,000 400,000 3,000 200,000 2,000 0 1,000 2008 2009 2010 2011 2012 Product Tanker 139,643 139,643 187,642 142,129 142,129 0 Handysize Bulker 79,610 84,125 84,125 178,74

  8. Slide 8: Commercial Highlights: Total Fleet Size and Average Fleet Age

    Commercial Highlights 8 Total Fleet Size Average Fleet Age 1,020,000 10 1,000,000 9 8 980,000 7 960,000 6 Years DWT 940,000 5 4 920,000 3 900,000 2 880,000 1 860,000 0 2011 2012 2011 2012 Total Fleet Size 911,979 1,009,700 Average Fleet Age 8.8 6.2

  9. Slide 9: Commercial Highlights: TCE Rates 2012

    Commercial Highlights 9 TCE Rates  2012 USD 40,000  Dry Bulk Carriers  The Baltic Dry Index took a 41% dive USD 35,000 year on year with an average of 920 points compared to 2011’s average of USD 30,000 1,549  Likewise, MBC’s Dry Bulk Fleet’s daily USD 25,000 TCE rate declined by 42% to USD 9,35

  10. Slide 10: Commercial Highlights: Baltic Dry Index

    Commercial Highlights 10 Baltic Dry Index 2nd Jan 2008 – 22nd Feb 2013  SSY estimated seaborne dry 14000 bulk trade grew by 150-160 Mt in 2012 12000  However, the Baltic 10000 Exchange Dry Index 8000 averaged less than 1,000 points for only the second 6000 time since the 1980s  Underlining the im

  11. Slide 11: Commercial Highlights: Fleet Developments

    Commercial Highlights 11  Fleet Developments  Deliveries of new ships rose to 98.7 million dwt in 2012  Removals totaled 33 million dwt  As a result, the dry bulk fleet increased by more than 12% from 2011 to 2012

  12. Slide 12: Commercial Highlights: Baltic Clean Tanker Index

    Commercial Highlights 12 Baltic Clean Tanker Index 2nd Jan 2008 – 22nd Feb 2013 1600 1400 1200 1000 800 600 400 200 0 02/01/2008 02/01/2009 02/01/2010 02/01/2011 02/01/2012 02/01/2013

  13. Slide 13: Commercial Highlights: Orderbook vs existing fleet

    Commercial Highlights 13 % of DWT on orderbook compared to existing fleet Existing fleet Orderbook 200.0 180.0 Million Dead Weight Tonnes 160.0 140.0 120.0 100.0 80.0 60.0 27% 40.0 15% 20.0 15% 13% 0.0 Panamax bulker Handymax bulker Handysize bulker Handy/MR Tanker Existing fleet 178.6 140.6 84.8 80

  14. Slide 14: Commercial Highlights: Existing fleet vs orderbook comparison

    Commercial Highlights 14 % of DWT of Existing Fleet comparison against Orderbook Beg. 2008 Beg. 2009 Beg. 2010 Beg. 2011 Beg. 2012 Beg. 2013 70% 60% 50% 40% 30% 20% 10% 0% Panamax Bulker Handymax Bulker Handy Bulker Handy / MR Tanker

  15. Slide 15: Financial Highlights

    Financial Highlights 15  Highlights of 2012 Performance  PBT down 40% to RM66.5m 2012 2011 Var TCE (US$/day) 9,805 15,737 (5,932) Hire days (days) 5,171 5,274 (103)  EPS was 6.60 cents (2011: 10.80 cents)  Moderate ROE of 4% (2011: 6.4%)  Net assets per share of RM1.72 (2011: RM1.74)  Cash and

  16. Slide 16: Group's Financial Highlights

    Group’s Financial Highlights 16 RM’million 2012 2011 Change Operating profit (7.7) 84.0 -109% EBIDTA 37.6 106.7 -65% (excl associate/jointly controlled entities) Other operating income 41.8 13.3 214% Share of associate 35.3 17.0 107% PBT 66.5 111.5 -40% EPS (cents) 6.60 10.80 -39%

  17. Slide 17: Financial Highlights: TCE Rates By Quarter

    Financial Highlights 17  TCE Rates By Quarter USD 35,000 30,263 USD 30,000 26,618 24,615 USD 25,000 22,971 21,398 USD 20,000 17,860 USD 15,000 12,644 13,421 13,643 15,938 11,608 11,671 10,793 10,512 12,610 12,302 USD 10,000 11,130 11,238 10,710 9,788 10,100 10,253 8,872 7,705 USD 5,000 USD 0 Q1 201

  18. Slide 18: 5-Year Financial Highlights

    5-Year Financial Highlights 18 In RM’million 2008 2009 2010 2011 2012 Revenue (net of voyage expenses) 721.2 303.7 404.3 256.3 157.4 % change y-o-y +19% -58% +33% -37% -39% Operating EBITDA (excl associate and jointly controlled entities) 197.6 182.4 218.4 106.7 37.6 % margin 27% 60% 54% 42% 24% Dep

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