Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — H1 2020 Earnings Presentation
12 slides from Compania Sud Americana De Vapores's earnings presentation, September 2020
Slide 1: Investor Presentation H1 2020 Results
Investor Presentation H1 2020 Results September, 2020
Slide 2: Highlights
Highlights CSAV Mainly from its stake in the container shipping business through Hapag-Lloyd The US$350 million will be used to pay back loans taken out by CSAV to obtain a 30% stake in HLAG in January After ending its last remaining direct shipping operations in July 2020 Hapag-Lloyd, CSAV’s main i
Slide 3: Industry: Supply evolution throughout the years
Industry Supply evolution throughout the years Record low orderbook World fleet (TEU mn) Orderbook (TEU mn) Orderbook-to-fleet (%) 28 70% 24 60% Orderbook-to-fleet (%) 20 50% Orderbook-to-fleet Orderbook-to-fleet 16 2005-2008 average August 2020 40% TEU mn 54.8% 8.9% 12 (~ 3.0 – 4.0% annual equivale
Slide 4: Industry: Effective measures to mitigate COVID impact
Industry Effective measures to mitigate COVID impact Adjustment capacity in major trades (YoY %) Far East Transpacific 7% (0%) (0%) (5%) (4%) (5%) (5%) (8%) (10%) (11%) (14%) (13%) (15%) (16%) (17%) (21%) Jan-2020 Feb-2020 Mar-2020 Apr-2020 May-2020 Jun-2020 Jul-2020 Aug-2020 Recent increase in idle
Slide 5: Industry: Evolution of ex-bunker freight rate
Industry Evolution of ex-bunker freight rate SCFI⁽¹⁾ SCFI - Bunker Consumption Margin IFO 380⁽²⁾ (3,5%) VLSFO⁽²⁾ (0,5%) 1,600 1,400 1,200 1,000 USD / TEU Avg. 2010 Avg. 800 1.123 2012 893 Avg. 2020 600 Avg. 2014 YTD 846 Avg. 2013 812 Avg. 2017 Avg. 2011 Avg. 2018 Avg. 2019 778 706 400 657 Avg. 2015
Slide 6: CSAV's results: Net Income H1 2019 vs H1 2020
CSAV’s results H1 2020 CSAV Net Income H1 2019 vs H1 2020 Figures in USD million CSAV Net Share of Effect of Badwill SG&A Financial result Deferred Discontinued CSAV Net Income HLAG's PPA on Taxes operations Income H1 2019 Result Results H1 2020 50.8 (3.9) (4.5) (0.3) 0.5 (11.3) (3.1) 66.9 Equity-ac
Slide 7: CSAV's results H1 2020
CSAV’s results H1 2020 Figures in USD million Results H1 2020 H1 2019 Var. SG&A (3.6) (4.1) 0.5 Other incomes 0.8 1.6 (0.8) Operating income (loss) (2.8) (2.5) (0.3) EBITDA (w/o equity-accounted investees) (2.7) (2.4) (0.3) Equity-accounted investees 89.6 47.2 42.4 Financial result & ex. rate diff.
Slide 8: CSAV's financial position
CSAV’s financial position H1 2020 Figures in USD million Net debt (Jun 2020) Leverage 479.3 Covenant: <1.3 606.4 127.1 0.27 0.13 Deuda financiera Financial debt Efectivo Cash &y efectivo cash Deuda neta Net debt Jun Jun 2020 2020 Dec Dic 2020 2019 equivalent equivalente Total assets Free Asset Ratio
Slide 9: Hapag Lloyd's results H1 2020
Hapag Lloyd’s results H1 2020 Capacity H1 2020 Financial results H1 2020 2020 H1 2019 H1 ∆% 2019 FY Transported 5,755 5,966 (3.5%) 12,037 volume (TTEU) 1,736 TTEU Vessels’ aggregate Average freight rate 1,104 1,071 3.1% 1,072 capacity (USD/TEU) Revenue 7,005 7,047 (0.6%) 14,115 (USD mm) Transport ex
Slide 10: Hapag-Lloyd: Performance Safeguarding Program (PSP)
Hapag-Lloyd: Perfomance Safeguarding Program (PSP) Launched to safeguard earnings and liquidity related to COVID-19 Costs savings Investment prioritization Substantial capacity measures taken in coordination with our Investment plan reviewed THE Alliance partners to mitigate variable costs Pos
Slide 11: Outlook: HLAG's 2020 Guidance
Outlook HLAG’s 2020 Guidance Outlook 2019 for 2020 Transport volume 12,037 TTEU Average bunker price 416 USD/mt EBITDA EUR 1,986 m EUR 1.7 – 2.2 bn EBIT EUR 811 m EUR 0.5 – 1.0 bn Extracted from HLAG’s Investor Report H1 2020, available at https://www.hapag-lloyd.com/en/ir.html 11
Slide 12: Outlook
Outlook CSAV has focused exclusively on the container shipping business since early 2020, after close its vehicle transport business. CSAV has started its capital increase of US$350 million to obtain its final debt structure which, combined with the absorption of the accumulated losses, will all
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