Eimskipafelag Islands Hf. · OMXICE:EIM
Eimskipafelag Islands Hf — FY2015 Earnings Presentation
27 slides from Eimskipafelag Islands Hf's earnings presentation, Feb 26, 2016
Slide 1: Financial Results 2015 and Fourth Quarter Results
FINANCIAL RESULTS 2015 AND FOURTH QUARTER RESULTS 26 February 2016
Slide 2: Highlights
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Slide 3: Key Highlights 2015
KEY HIGHLIGHTS 2015 Comparison to 2014 Revenue EUR 499.6 million up by 10.6% EBITDA EUR 45.2 million up by 17.3% EBIT EUR 20.5 million up by 33.4% Net earnings EUR 17.8 million up by 30.8% Volume in liner services up by 4.2% Volume in reefer forwarding services up by 7.5% 3
Slide 4: Transported Volume 2011 to 2015
TRANSPORTED VOLUME 2011 TO 2015 Changes from the previous year Liner services Reefer forwarding 4
Slide 5: Transported Volume in Q4 2011 to 2015
TRANSPORTED VOLUME IN Q4 2011 TO 2015 Changes from Q4 in the previous year Liner services Reefer forwarding 5
Slide 6: Revenue by Segment
REVENUE BY SEGMENT Liner services and forwarding services 2015 2014 6
Slide 7: EBITDA by Segment
EBITDA BY SEGMENT Liner services and forwarding services 2015 2014 7
Slide 8: China Forwarders Freight Index
CHINA FORWARDERS FREIGHT INDEX China - Europe 8
Slide 9: Geographical Split of Operating Revenue
GEOGRAPHICAL SPLIT OF OPERATING REVENUE Less than half of operating revenue is related to Iceland 2015 2014 9
Slide 10: Financial Results 2015
E/EIM: COOL CHOICE INI 7 | E|EIMSKIP
Slide 11: Income Statement
INCOME STATEMENT Net earnings in 2015 grew by 30.8% from the previous year Operating revenue affected by new companies, rates, volume, cargo combination and currency exchange fluctuations EUR 2.0 million recorded in Q3 as revenue from EUR thousands Q4 2015 Q4 2014 % 2015 2014 % gain on disposal of a
Slide 12: Operating Revenue and EBITDA 2011 to 2015 by Quarter
OPERATING REVENUE AND EBITDA 2011 TO 2015 BY QUARTER Adjusted for one-off items in 2011 and 2012 Revenue EBITDA EUR million EUR million 12
Slide 13: Balance Sheet
BALANCE SHEET Remains solid with low leverage Non-current assets grew by EUR 19.0 million - Mainly due to investments in the new cold storage in Hafnarfjördur and in two new harbor cranes EUR thousands 31.12.2015 31.12.2014 Change % Dividend in the amount of EUR 6.3 million (ISK 933.2 Non-current as
Slide 14: Financial Ratios
FINANCIAL RATIOS Adjusted for one-off items in 2011 and 2012 Net debt / EBITDA (adjusted) Net debt and equity ratio EUR million EUR million 14
Slide 15: Strong Cash Flow and Cash Position
STRONG CASH FLOW AND CASH POSITION Increased investments in infrastructure and M&A projects EUR thousands Q4 2015 Q4 2014 Change % 2015 2014 Change % Cash flows from operations 15,574 12,713 2,861 22.5% 37,357 31,603 5,754 18.2% Investing activities 4,032 (4,382) 8,414 - (35,206) (18,311) (16,895) (
Slide 16: Cash Flow Bridge 2015
CASH FLOW BRIDGE 2015 Cash decreased by EUR 3.6 million from year-end 2014 EUR million 16
Slide 17: CAPEX 2011 to 2015
CAPEX 2011 TO 2015 Total CAPEX EUR 48.3 million in 2015, thereof maintenance CAPEX EUR 24.8 million EUR million Increased CAPEX in Q3 - Cold storage in Hafnarfjördur, Iceland - Two harbor cranes - Vessel dockings Not included in the chart - Refund of EUR 14.1 million received in Q4 due to the cancel
Slide 18: Dividend Proposal 2016
DIVIDEND PROPOSAL 2016 In the amount of ISK 1,213.2 million Eimskip‘s DIVIDEND POLICY is to pay annual dividend that equals an amount in the range of 10-50% of net profit after taxes. Decisions on dividend payment, and the exact amount, are subject to the company’s future investment plans, market ou
Slide 19: Ongoing Projects and Future Development
ONGOING PROJECTS AND FUTURE DEVELOPMENT 19
Slide 20: The Cold Storage in Hafnarfjörður
THE COLD STORAGE IN HAFNARFJÖRDUR Well received by customers Eimskip’s new cold storage in Hafnarfjördur was in full operation in December The cold storage has been well received by Eimskip’s customers The cold storage offers services for the following commodities - Pelagic fish • Mackerel, herring,
Slide 21: New Container Vessel and a Harbor Crane
NEW CONTAINER VESSEL AND A HARBOR CRANE A sister vessel of Lagarfoss Eimskip has chartered the 880 TEU gearless container vessel Ceres as from March 2016 Ceres is a sister vessel of Lagarfoss that Eimskip built and took into operation in 2014 The name of Ceres will be changed to Bakkafoss The vessel
Slide 22: Helguvík, Iceland
HELGUVÍK, ICELAND Regular services start in the second quarter Vessels on the Yellow Line will start regular calls at Helguvík to serve the operations of United Silicon’s plant and other customers in the area 22
Slide 23: Growth in Line with Strategy
GROWTH IN LINE WITH STRATEGY Through accretive acquisitions and joint ventures Eimskip’s plans for external growth are, in line with current vision and strategy, to make accretive acquisitions that create synergies, strengthen the company’s performance and increase shareholder value Reasonably sized
Slide 24: EBITDA Forecast for 2016
EBITDA FORECAST FOR 2016 EBITDA in the range of EUR 46 to 50 million The EBITDA forecast for 2016 is in the range of EUR 46 to 50 million The outlook for the year 2016 is positive in general - Expected continued volume growth in the Iceland-related market - The outlook for Norway is positive after s
Slide 25: Eimskip - Cool Choice in Logistics
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Slide 26: Disclaimer
DISCLAIMER Information contained in this presentation is based on sources that Eimskipafélag Íslands hf. (“Eimskip“ or the ”Company“) considers reliable at each time. Its accuracy or completeness can however not be guaranteed. Copyright of information contained in this presentation is owned by Eimsk
Slide 27: Cool Choice in Logistics
COOL CHOICE IN LOGISTICS
Eimskipafélag Íslands hf. — FY2015 Earnings Presentation on 6ix