Exmar Nv · EURONEXT:EXM

Exmar Nv — Debt Investor Presentation (May 2016)

39 slides from Exmar Nv's debt investor presentation, May 2016

  1. Slide 1: Investor Meetings May/June 2016

    Investor Meetings May/June 2016 Innovation: Our Source of Energy

  2. Slide 2: Disclaimer

    DISCLAIMER About this presentation “This presentation (the “Presentation”) has been produced by EXMAR NV (“EXMAR” or the “Company”). By attending a meeting where this Presentation is presented, or by reading the Presentation slides, the reader or the recipient, as the case may be, (the “Recipient”)

  3. Slide 3: Summary

    SUMMARY Industry leader  Innovator and world market leader in floating liquefaction (FLNG) and floating regasification (FSRU) within LNG and LPG shipping  World class reference in LPG shipping with blue-chip customers  LNG fleet has an average remaining firm charter duration of ~10 years Strong c

  4. Slide 4: EXMAR at a Glance

    EXMAR AT A GLANCE Overview Key management  Leading provider of marine logistics solutions within the Nicolas Saverys, CEO & Director of EXMAR global oil and natural gas industry  Over 30 years of experience in marine transportation  LNG transportation, storage, liquefaction and regasification, LP

  5. Slide 5: EXMAR at a Glance: Key metrics and fleet list

    EXMAR AT A GLANCE Key metrics (proportional consolidation) Fleet list (owned vessels)  Market capitalization: EUR ~430m  Revenue (2015): USD 315m 4 LNG FSRU  EBITDA (2015): USD 99m* 2 LNG CARRIER  Total assets (2015): USD 1,276m 1 FSRU BARGE  Equity ratio (2015): 32% 1 FLNG BARGE  Net Debt / E

  6. Slide 6: Panorama 2015

    PANORAMA 2015 1 December 2015 Delta House is named one of Offshore Magazine’s Top 5 Projects of 2015 and is 26 February 2015 desribed as a “game changer” in the Exmar Offshore exercices purchase deepwater sector of the oil and gas industry. option on Otto 5 accommodation 17 April 2015 17 July 2015 b

  7. Slide 7: EXMAR Group

    EXMAR GROUP Over 185 years of experience in marine industries 1829 - Boel Shipyard 2002 - Delivery of 2005 - Delivery of first 2008 - Start FLNG 2016 - World’s first FLNG close to Antwerp 138,000 m³ LNGC LNG regas vessel developments terminal “Excalibur” “Excelsior” 1978 - Construction 2003 - Delive

  8. Slide 8: Company Profile and Strategy

    COMPANY PROFILE AND STRATEGY Strategy  Provider of industrial marine and energy logistics solutions for transport, regasification and liquefaction within the oil and gas industry  Transitioning from pure shipping to a provider of a full value chain of infrastructure and integrated logistics to add

  9. Slide 9: EXMAR Business Overview

    EXMAR BUSINESS OVERVIEW LNG LPG / NH3 Offshore Services 8% 0.1% EBITDA by segment 40% 52% (2015)  LNG transportation,  Niche position in LPG,  Provides innovative  In-house engineering liquefaction, storage and chemical gases and solutions in the field of departments in Antwerp, regasification a

  10. Slide 10: EXMAR Around the World

    EXMAR AROUND THE WORLD © EXMAR, all rights reserved 10

  11. Slide 11: LNG - Creating value through the LNG value chain

    EXMAR LNG - Creating value through the LNG value chain

  12. Slide 12: LNG Shipping & LNG Infrastructure

    EXMAR LNG SHIPPING & LNG INFRASTRUCTURE Business approach Clients  Customized service with significant added value  Investments with long-term time-charter contracts  Limited or no OPEX exposure  In-house management and crewing services  Niche market - small scale infrastructure projects  Stro

  13. Slide 13: Innovating Along the LNG Value Chain

    INNOVATING ALONG THE LNG VALUE CHAIN Traditional LNG value chain Upstream Midstream Downstream Gas Liquefaction LNG Storage LNG Tanker LNG Storage Vaporizers To Pipeline Power Field Facility Tank Tank System Plant EXMAR today LNG Carriers + Floating Storage & Regasification (FSRU) EXMAR 3Q 2016 Inte

  14. Slide 14: LNG Asset Overview EXMAR

    LNG ASSET OVERVIEW EXMAR Commitment overview of a diverse and high-quality portfolio © EXMAR, all rights reserved 14

  15. Slide 15: Excelerate Energy

    EXCELERATE ENERGY  Private U.S. based, leading developer of LNG transportation, Excelerate Energy’s vessel portfolio storage and regasification infrastructure as well as a trader of Vessel Type Built Capacity (m3) Owner LNG Excalibur LNG/C 2002 138,000 Exmar / TK LNG Partners  100% owned by George

  16. Slide 16: EXMAR and Floating Regasification

    EXMAR AND FLOATING REGASIFICATION Established player always working on innovative solutions  Pioneered floating regasification solutions, introduced world’s first FSRU in 2005  Currently operating 10 FSRUs  1 barge-based FSRU under construction, still commercially available  Unrivalled track rec

  17. Slide 17: Floating LNG Infrastructure

    FLOATING LNG INFRASTRUCTURE First mover advantage in a growing market EXMAR Liquefaction Solution  It took some years before floating regasification (“FSRU”) really  1 FLNG on order and 1 option took off  Supporting several O&G companies and project developers:  Floating liquefaction (“FLNG”) is

  18. Slide 18: FLNG – a promising market

    FLNG – a promising market Arctic West Europe and Mediterranean Rim  Remote locations North America  Stranded gas and security concerns  Unconventional gas South East Asia production  Stranded gas and rapidly Part of the Middle East growing consumption in cities  Security concerns Brazil  Pre-s

  19. Slide 19: The World's First FLNG Developed by EXMAR

    THE WORLD’S FIRST FLNG DEVELOPED BY EXMAR Caribbean FLNG project  EXMAR to build, operate and maintain the world’s first Floating LNG (“FLNG”) unit  Commissioning to start Q2-2016 in the People’s Republic of China  Financing secured from ICBC  Alternative locations / projects being actively purs

  20. Slide 20: Caribbean FLNG employment leads

    Caribbean FLNG employment leads Different fast track prospects are being pursued Black Sea USA Indonesia Venezuela Iran Peru Nigeria Cameroon Papua New Guinea Brazil © EXMAR, all rights reserved 20

  21. Slide 21: FSRU Barge on a Stand Alone Basis

    FSRU BARGE ON A STAND ALONE BASIS Already under construction, cost efficient and tailored Buffer storage of 26,230 m³, Proven technologies and low High availability for 20 years provide sufficient margin operational expenses continuous send out Newest technologies for power and Low permanent fixed c

  22. Slide 22: Jafrabad LNG Port Project (SWAN LNG)

    JAFRABAD LNG PORT PROJECT (SWAN LNG) Project presentation  Partnership on equal basis between SWAN Energy Limited and EXMAR  Site selection  Proximity to the natural gas market (Gujarat, New Delhi and North of India)  Lower pipeline cost to reach the prime market (compared to Dahej and Hazira) 

  23. Slide 23: LPG - Innovation and partnership

    EXMAR LPG - Innovation and partnership; our strongest links in the energy supply chain

  24. Slide 24: LPG Shipping

    EXMAR LPG SHIPPING Business approach First class client base  Niche position in LPG, ammonia and chemical gases transportation  Focus on midsize carriers  Long-term relationships with blue-chip customers  Balance between Time-Charter, CoA commitments and spot trading  1st class in-house ship ma

  25. Slide 25: LPG Activities

    EXMAR LPG ACTIVITIES Owner/Operator of LPG carriers Fleet of 33 LPG carriers (owned and time-chartered)  Transportation of LPG, chemical gases and ammonia  1 VLGC (85,000 m³) in JV with TK LNG  Flexible commercial proposition  22 LPG/NH³ midsize (28,000 - 38,000 m³) JV with Teekay LNG  Time-cha

  26. Slide 26: LPG Market Highlights and Outlook

    LPG MARKET HIGHLIGHTS AND OUTLOOK  Seaborne LPG volumes solidly remain at historically high levels but question marks arise as to future growth figures  US exports is the most important driver in LPG shipping and is expected to reach about 25 million tons in 2016 (+ 23% vs 2015)  Uncertain furthe

  27. Slide 27: LPG Fleet

    EXMAR LPG FLEET Midsize fleet  2015 a record year  Expected competition between various other segments has started for real  85% cover for 2016 at rewarding level VLGC fleet  2015 a record year  Baltic Freight Index has fallen 50% since the start of 2016  BW Tokyo on charter till mid-2016. Dis

  28. Slide 28: Offshore - Finding the answer before the question's asked

    EXMAR OFFSHORE - Finding the answer before the question’s asked

  29. Slide 29: Offshore

    EXMAR OFFSHORE Business approach First class client base  Provides engineering and design services, asset leasing and operating and management services  Cost effective approach with standardized design & engineering  Large geographical coverage, with a focus on Gulf of Mexico and West Africa © EX

  30. Slide 30: EXMAR's Activities in the Offshore Sector

    EXMAR’s ACTIVITIES IN THE OFFSHORE SECTOR Build, own, operate model Services  Owned assets: 3 accommodation barges  Pre-Operations Engineering  Development of FPSO’s and FSO’s  Marine and Maintenance Services  Development of semi-submersible platforms (OPTI series)  Operational Services  Deve

  31. Slide 31: Offshore Market Status and Outlook

    OFFSHORE MARKET STATUS AND OUTLOOK Production  Offshore operators are changing their development plans towards more efficient, repeatable solutions to improve economics in the near and long term  Few projects will be sanctioned in 2016, however, oil companies are planning ahead with smaller scale

  32. Slide 32: Supporting Services - The power of innovation

    SUPPORTING SERVICES - The power of innovation

  33. Slide 33: EXMAR's Supporting Services

    EXMAR’s SUPPORTING SERVICES EXMAR SHIPMANAGEMENT  Specialized in quality ship management & related services to asset owners  Over thirty years of know-how  Managing a diversified fleet of VLGC’s, midsize, and pressurized LPG carriers, LNG carriers, LNG regasification vessels, FPSO’s and FSRU’s an

  34. Slide 34: Key Figures

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  35. Slide 35: Debt Overview

    DEBT OVERVIEW  Strong track record with and backing from core shipping banks and Export Credit Agencies  The Group’s debt facilities amounted to USD ~729m end 2015, including the bond of NOK 1,000m (USD ~152m)  LPG revolving credit facility and newbuild debt (8 vessels) was refinanced in June 201

  36. Slide 36: Committed Capex

    COMMITTED CAPEX CAPEX schedule  Contract for building, owning and operating the world’s first FLNG, (USDm) named Caribbean FLNG, signed in March 2012 250  Total capex of USD ~298m  Estimated remaining capex of USD ~202m due at delivery in the 200 third quarter of 2016 after completed commissionin

  37. Slide 37: Financial Highlights

    FINANCIAL HIGHLIGHTS (In USD millions unless otherwise stated) 2015 2014 • Strong performance from the LPG division and stable contribution Profit & loss from the LNG division. Operating Income 315.3 331.2 • The 2015 results include a non EBITDA 99.5 133.0 cash impairment write-down of USD 14 millio

  38. Slide 38: Outlook 2016

    OUTLOOK 2016 LNG  All LNG vessels but the EXCEL remain employed on long-term contracts at rewarding level  Delivery of the Caribbean FLNG in the course of the summer LPG  Strong cover ratio of the fleet with record high utilization rates expected  Delivery of two new midsize vessels before the e

  39. Slide 39: Thank you for your attention

    Thank you for your attention © EXMAR, all rights reserved 39

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