Kawasaki Kisen Kaisha, Ltd. · TSE:9107
Kawasaki Kisen Kaisha — FY2005 Earnings Presentation
19 slides from Kawasaki Kisen Kaisha's earnings presentation, May 12, 2006
Slide 1: K Line 2006 Earnings Presentation
it KLINE 2006 2006 5 12
Slide 2: A. 2005 Results
it KLINE A. 2005
Slide 3: A-1. 2005 Results Summary
A-1. 2005 2005 2004 9,408 8,284 1,124 13.6% 9,250 158 7,426 6,587 839 12.7% 7,350 76 880 1,081 -201 -18.6% 910 -30 567 853 -286 -33.5% 640 -73 886 1,072 -186 -17.4% 910 -24 578 869 -291 -33.5% 650 -72 624 599 25 4.2% 640 -16 388 490 -102 -20.8% 430 -42 18.0 16.5 1.5 9.1% 18.0 - ¥113.09 ¥107.46 5.63
Slide 4: A-2. Balance Sheet and DER
A-2. • • • • • • 2578 DER1.08 • 18 27 17
Slide 5: A-3. Sensitivities (fuel and exchange rate)
A-3. 910 1072 886 1 68 5 254 24 110 4 80 0 54 0 24 24 186 1 / +/-12 $10/K.Ton / +/-27
Slide 6: A-4. Fleet and Financial Indicators
A-4. 2004 2005 2005 5 4000TEU 3 3 CF 894 723 5500TEU 2 2 (246 286 21 Capesize 8 1 9 CF 344 Panamax 3 3 CF 550 Handymax 5 5 SmallHandy 1 1 344 Chip/Pulp - - 547 1025 Corona 2 1 3 12 189 125 800 2 2 2000 2 2 392 4300 1 2 3 1813 2578 5000 3 3 6500 2 2 2392 2782 LNG 4 ROE 39.6% 28.4% 1 1 RASGAS 3 3 ROA
Slide 7: A-5. Container Shipping
A-5. 4514 305 • 4,000TEU3 5,500TEU2 265 TEU 7.8% ) • • 40
Slide 8: A-5. Bulk Carrier Market
A-5. • 17 153 +2.9 8 3 5 1 • 2004 170 ) $53,834 $77,084 $65,459 $37,333 $38,333 $37,833 -42% 74 ) $30,667 $36,909 $33,788 $18,583 $17,900 $18,242 -46% 45 ) $22,975 $26,909 $24,942 $17,200 $16,800 $17,000 -32%
Slide 9: A-5. Car Carriers and Fleet Figures
A-5. • 8 6500 2 5000 3 4300 1 2000 2 • 255 271 +6 • 297 120 176 592 84 576 1,252 2004 321 119 181 622 98 580 1,300 618 240 356 1,214 182 1,156 2,552 286 115 197 598 68 638 1,304 2005 316 119 203 638 69 698 1,405 602 234 400 1,236 137 1,336 2,709
Slide 10: A-5. Tankers
A-5. • 30 4 3 1 • 16 1,301 1,427 +9.7 • AFRAMAX 2,957 3,098 +4.8 2004 (WS) VLCC Gulf/Jpn) 111 188 150 78 138 108 -28% 8 / ) 178 276 227 138 245 192 -16% 7 Gulf/Jpn) 186 279 233 203 256 230 -1%
Slide 11: B. 2006 Forecast
it KLINE B. 2006
Slide 12: B-1. 2006 Forecast
B-1. 2006 2006 2006 2005 5050 10,100 9,408 692 7.4% 4050 8,100 7,426 674 9.1% 310 610 880 -270 -30.7% 170 340 567 -227 -40.0% 325 630 886 -256 -28.9% 180 360 578 -218 -37.7% 240 450 624 -174 -27.9% 115 240 388 -148 -38.1% 18 18 - - ¥115 ¥113 ¥113.09 - $350 $350 $285.60 $64 22.5% • 2006 18 24
Slide 13: B-2. 2006 Sensitivities
B-2. 2006 5 20 174 135 239 5 143 0 91 0 70 0 254 120 1 / +/- 8 $10/K.Ton / +/-27
Slide 14: B-3. LNG
B-3. IN K LINE KAWASAKI KISEN KAISHA, LTD. LNG 32 23
Slide 15: C. 'K' LINE Vision 2008+
it K LINE C. “K” LINE Vision 2008*
Slide 16: C-1. 'K' LINE Vision 2008+
C-1. “K” LINE Vision2008+ • – – – – • – CSR – –
Slide 17: C-2. 'K' LINE Vision 2008+ Fleet Plan
C-2. “K” LINE Vision2008+ 500 192 8000 2006 6 5500TEU 3 3 8000TEU 3 3 2005 2006 2007 2008 30 Capesize 9 2 11 Panamax 5 1 6 64 11 77 6 83 3 86 7 90 27 Handymax 4 4 137 29 143 30 165 10 173 14 185 83 SmallHandy 2 2 70 15 93 8 90 4 94 5 90 32 Chip/Pulp 1 3 4 24 6 30 2 32 3 35 13 48 24 Corona 2 1 3 8 17
Slide 18: C-3. 'K' LINE Vision 2008+
C-3. “K” LINE Vision2008+ 2006 2005 2006 • 17 46 13 23 • 10 13 6 7 • 3 2 5 0 54 91 • ( ) ( ) 40 82 • PBCF ) ( ) 6 9 8 0 • Leaf Picking •
Slide 19: C-4. 'K' LINE Vision 2008+ Financial Targets
C-4. “K” LINE Vision2008+ 4,500 140% 2004 2005 2006 4,000 120% CF 894 723 680 3,500 (246 286 100% CF 344 3,000 CF 550 2,500 80% 344 547 1025 1300 2,000 60% 189 125 340 1,500 392 40% 1813 2578 2920 1,000 2392 2782 3400 20% ROE 39.6% 28.4% 16% 500 ROA 18.4% 13.0% 8% 0 0% 30% 34% 34% 04F 05F 06F 07F 08