Algoma Central Corporation · TSX:ALC
Algoma Central — Shareholder Meeting (May 2024)
26 slides from Algoma Central's shareholder meeting presentation, May 1, 2024
Slide 1: Renew Innovate Grow – 2024 Annual General & Special Meeting
RENEW INNOVATE GROW 2024 ANNUAL GENERAL & SPECIAL MEETING OF SHAREHOLDERS May 1, 2024
Slide 2: Agenda
AGENDA • Formal Meeting o Elect Directors o Appoint Auditors o Renew Stock Option Plan • Business Presentation | 2
Slide 3: Elect Directors
ELECT DIRECTORS 1. Mats H. Berglund 6. Trinity O. Jackman 2. Richard B. Carty 7. Mark McQueen 3. Jens GrØnning 8. Clive P. Rowe 4. E.M. Blake Hutcheson 9. Gregg A. Ruhl 5. Duncan N.R. Jackman 10. Eric Stevenson | 3
Slide 4: Appoint Auditors
APPOINT AUDITORS Deloitte.
Slide 5: Approve Stock Option
APPROVE STOCK OPTION To approve the continuation of the Company’s stock option plan. | 5
Slide 6: Forward Looking Statement
FORWARD LOOKING STATEMENT Certain statements in this document about our current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements. Forward-looking statements
Slide 7: Financial Snapshot – Freight Revenue
FINANCIAL SNAPSHOT NON-GAAP FREIGHT REVENUE(1) $1,000 $900 $866 $800 $700 $633 $600 $500 $463 $400 $300 $200 $100 $- 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 40% increase (1) Freight revenue from each segment includes our proportionate share of freight revenue from our respective joint
Slide 8: Financial Snapshot – Share of Marine Segment Earnings
FINANCIAL SNAPSHOT SHARE OF MARINE SEGMENT EARNINGS 2023 2018 20% 2013 12% 41% 38% 35% 34% 28% 25% 31% 23% 14% Domestic Dry-Bulk Product Tankers Ocean Self-Unloaders 65% increase 143% increase | 8
Slide 9: Strategic Advancement & Diversification
STRATEGIC ADVANCEMENT & DIVERSIFICATION Ocean Self-Unloaders | 9
Slide 10: Your Marine Carrier of Choice
YOUR MARINE CARRIER OF CHOICE HOW WE’RE PROPELLING PROGRESS BIOFUEL LEARNING DIVERSITY, EQUITY STARLINK TRIALS MANAGEMENT & INCLUSION MARITIME SYSTEM COUNCIL FUELOPT EMPLOYEE TOP EMPLOYER & SAFETY ENGAGEMENT COMMUNITY NEWSLETTER SURVEY AWARDS | 10
Slide 11: 2023 Financial Results
2023 FINANCIAL RESULTS | 11
Slide 12: Financial Snapshot
FINANCIAL SNAPSHOT REPORTED REVENUE EBITDA NET EARNINGS RETURN ON EQUITY $800 $220 $120 20% $200 18% $700 $180 $100 16% $600 $160 14% $80 $500 $140 12% $120 $400 $60 10% $100 $300 8% $80 $40 6% $200 $60 4% $40 $20 $100 2% $20 $- $- $- 0% 2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023 Im
Slide 13: Domestic Dry-Bulk Financial Performance
DOMESTIC DRY-BULK FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $450 $100 $60 $400 $90 $50 $350 $80 $300 $70 $40 $60 $250 $50 $30 $200 $40 $150 $20 $30 $100 $20 $10 $50 $10 $- $- $- 2021 2022 2023 2021 2022 2023 2021 2022 2023 Impact of impairment reversal. | 13
Slide 14: Product Tankers Financial Performance
PRODUCT TANKERS FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $140 $30 $16 $120 $14 $25 $12 $100 $20 $10 $80 $15 $8 $60 $6 $10 $40 $4 $20 $5 $2 $- $- $- 2021 2022 2023 2021 2022 2023 2021 2022 2023 | 14
Slide 15: Ocean Self-Unloaders Financial Performance
OCEAN SELF-UNLOADERS FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $220 $80 $50 $200 $45 $70 $180 $40 $160 $60 $35 $140 $50 $30 $120 $40 $25 $100 $20 $80 $30 $60 $15 $20 $40 $10 $20 $10 $5 $- $- $- 2021 2022 2023 2021 2022 2023 2021 2022 2023 | 15
Slide 16: Global Short Sea Shipping Financial Performance
GLOBAL SHORT SEA SHIPPING FINANCIAL PERFORMANCE FREIGHT REVENUE EBITDA NET EARNINGS $160 $60 $35 $140 $30 $50 $120 $25 $40 $100 $20 $80 $30 $15 $60 $20 $10 $40 $10 $5 $20 $- $- $- 2021 2022 2023 2021 2022 2023 2021 2022 2023 (1) Freight Revenue from the Global Short Sea segment is not included in ou
Slide 17: Shareholder Returns
SHAREHOLDER RETURNS DIVIDENDS PAID PER SHARE TOTAL SHAREHOLDER RETURN (TSR) $3.50 $200 $3.00 $175 $166 $2.50 $150 $2.00 $125 $100 $100 $1.50 $75 $1.00 $50 Annual Return: 7.3% $0.50 $25 $- 2019 2020 2021 2022 2023 2024 $0 Regular Dividend Special Dividend 2018 2019 2020 2021 2022 2023 | 17
Slide 18: 2024 First Quarter Results
2024 FIRST QUARTER RESULTS | 18
Slide 19: Financial Snapshot Q1 2024
FINANCIAL SNAPSHOT Q1 2024 FREIGHT REVENUE REPORTED REVENUE EBITDA NET LOSS $160 $120 $- $- $140 $(1) $100 $(2) $(5) $120 $100 $80 $(3) $(10) $(4) $80 $60 $(5) $60 $(15) $40 $(6) $40 $(7) $(20) $20 $20 $(8) $- $- $(9) $(25) 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 | 19
Slide 20: Domestic Dry-Bulk Financial Performance
DOMESTIC DRY-BULK FINANCIAL PERFORMANCE REVENUE EBITDA NET LOSS $40 $- $- $35 $(5) $(5) $30 $(10) $(10) $25 $(15) $20 $(15) $(20) $15 $(20) $(25) $10 $(30) $(25) $5 $- $(35) $(30) Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 | 20
Slide 21: Product Tankers Financial Performance
PRODUCT TANKERS FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $40 $10 $4 $35 $9 $3 $8 $30 $7 $2 $25 $6 $20 $5 $1 $15 $4 $- $3 $10 $2 $(1) $5 $1 $- $- $(2) Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 | 21
Slide 22: Ocean Self-Unloaders Financial Performance
OCEAN SELF-UNLOADERS FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $50 $16 $9 $45 $14 $8 $40 $7 $12 $35 $6 $30 $10 $5 $25 $8 $4 $20 $6 $3 $15 $4 $2 $10 $5 $2 $1 $- $- $- Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 | 22
Slide 23: Global Short Sea Shipping Financial Performance
GLOBAL SHORT SEA SHIPPING FINANCIAL PERFORMANCE FREIGHT REVENUE(1) EBITDA(2) EQUITY EARNINGS(2) $35 $9 $3.0 $30 $8 $2.5 $7 $25 $6 $2.0 $20 $5 $1.5 $15 $4 $3 $1.0 $10 $2 $5 $0.5 $1 $- $- $- Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 (1) Freight Revenue from the Global Sho
Slide 24: 2024 Business Outlook
2024 sac BUSINESS OUTLOOK ===
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Slide 26: Questions?
QUESTIONS? ALGOMA CENTRAL CORPORATION 63 Church Street, Suite 600 St. Catharines, ON L2R 3C4 Canada +1 (905) 687-7888 | algonet.com