Great Eastern Shipping Co. Ltd. · NSE:GESHIP
Great Eastern Shipping — The Great Eastern Shipping — Investor Presentation (November 2004)
15 slides from Great Eastern Shipping's investor presentation, November 2004
Slide 1: Business and Financial Update
Business and Financial Update GE Shipping
Slide 2: Forward looking information
Forward looking information This presentation contains certain forward looking information through statements, which are based on management’s current expectations and observations. The company does not guarantee the accuracy of these assumptions. There are a number of risks and uncertainties which
Slide 3: Business Profile
Business Profile Shipping Offshore Oil Field Services Capital Employed USD 432 Mn Capital Employed USD 111.8 Mn Revenue USD 219.9 Mn Revenue USD 69.8 Mn EBDIT USD 82.8 Mn EBDIT USD 28.6 Mn Wet Bulk Dry Bulk Oil Field Services Port and Terminal Services Crude Exploratory Drilling Product Offshore sup
Slide 4: Fleet Profile
Fleet Profile 32 Tankers: 9 Dry bulk carriers: 13 Crude oil carriers 1 Panamax 17 Product carriers 5 Handymax 2 LPG carrier 3 Handysize 2 Exploratory drilling rigs 16 Offshore support vessels 11 Harbour tugs 1 Construction barge India’s largest private sector shipping and offshore oil field services
Slide 5: On order
On order • 7 Tankers – 5 MR product carrier – 2 Suezmax crude carriers Of these 2 MR Product carriers & 2 Suezmax are Ice Class • 8 OSVs – 6 Anchor Handling Tug Supply Vessels (AHTSVs) – 2 Platform Supply Vessel (PSVs) Of these 2 AHTSVs & 2 PSVs can cater to deep water oil fields
Slide 6: Energy: the common denominator to economic growth
Energy the common denominator to economic growth
Slide 7: Business Focus
Business Focus • Servicing the energy sector • Oil is key to the economic development of Asia • Populous China & India to lead Asian oil demand • Higher energy consumption to result in additional exploration & transportation requirements Servicing both upstream and downstream segments of the energy
Slide 8: Operating Strategy
Operating Strategy • Wide asset spectrum providing earnings diversity • Judicious approach to managing the risks inherent to the industry • Identifying and acting on market opportunities both short term & long term Providing consistent long term returns to investors
Slide 9: Performance over the years
Performance over the years… .. Financial Year Tonnage ROE Earnings per Cash Earnings Dividend per (Apr-Mar) (Mn dwt) (%) share (USD) per share (USD) share (USD) 1999-00 1.34 10.0 0.10 0.26 0.03 2000-01 1.37 16.0 0.15 0.32 0.06 2001-02 1.28 17.5 0.18 0.38 0.08 2002-03 1.32 19.5 0.23 0.42 0.08 2003-04
Slide 10: Financials
Financials Figures in USD Mn FY00 FY01 FY02 FY03 FY04 What the Co. Owned Net fixed assets 385 326 344 352 532 Ships under construction - 20 27 32 51 Net current assets incl. Cash 99 81 94 119 137 Total 484 427 465 503 720 What the Co. Owed Shareholders’funds 254 229 219 245 341 Provision for deferre
Slide 11: Outlook for balance Qs of FY 2004-05
Outlook for balance Qs of FY 2004-05
Slide 12: Shipping
Shipping EXTERNAL Tankers : Tanker demand supply balance to remain very tight – Moving into winter months with low inventories – Mandatory scrapping deadline approaching Dry bulk : – Iron ore, coal trade expected to be firm INTERNAL – Improvement in TCEs for “spot” traded ships – Time charter renewa
Slide 13: Offshore oil field services
Offshore oil field services EXTERNAL – Increased E&P spending expected • Higher budgetary allocation towards ‘E’ • Precursor to increased activities INTERNAL – Enhanced asset utilisation envisaged • Corporate commitment towards E&P to percolate into business with a lag
Slide 14: Investment Positives
Investment Positives • Focussed on the energy sector • Diverse asset base • Global operations • Profitable through the cycle • Valuation Metrics: – EV/EBIDTA of 5.43 – PE to BV of 1.67 • As on Nov. 24, 2004 CMP USD 4.26 • Trailing P/E : 6.42 (Return on market cap. @ 15.5%) • Over 11% discount to NAV
Slide 15: THANK YOU
THANK YOU www.greatship.com
The Great Eastern Shipping — Investor Presentation (November 2004) on 6ix