Cmb.tech Nv · EURONEXT:CMBT
Cmb.tech Nv — Euronav — Q3 2015 Earnings Presentation
17 slides from Cmb.tech Nv's earnings presentation, Oct 29, 2015
Slide 1: Euronav Q3 - 2015 Results (unaudited)
Euronav Q3 - 2015 Results (unaudited) 29th October 2015
Slide 2: Forward looking statements
Forward looking statements Matters discussed in this presentation may constitute forward-looking statements under U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the Company’s current views with respect to future events
Slide 3: Agenda
Agenda Q3 - 2015 Highlights Financial Review Market update Outlook Company Market Q&A 2
Slide 4: Highlights
Highlights
Slide 5: Q3 - 2015 Highlights
Q3 - 2015 Highlights In USD per day Third quarter Third quarter 2015 2014 VLCC Average spot rate (in TI pool) 52,368 24,661 Average time charter rate* 43,516 30,189 Suezmax Average spot rate** 40,048 21,737 Average time charter rate* 30,944 21,168 * Including profit share where applicable ** Excludi
Slide 6: Financial Overview
Financial Overview
Slide 7: Financial Highlights – Income Statement
Financial Highlights – Income Statement The most important key figures are: First Highlights Semester Third Quarter Year-to-Date Year-to-Date in thousands of USD 2015 2015 2015 2014 Revenue 416,529 204,334 620,863 329,119 Other operating Income 4,296 1,976 6,272 6,558 EBITDA in line Voyage expense
Slide 8: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Condensed consolidated statement of financial position (in thousands of USD except per share amounts) September 30, 2015 December 31, 2014 ASSETS Current assets Trade and other receivables 208.584 194.733 Current tax assets 33 36 Cash and cash equivalents 173.442
Slide 9: Euronav Fleet Operating Days
Euronav Fleet Operating Days Q3 Full Year 2015 Suezmax - Suezmax - Fixed Fixed 14% 15% VLCC - VLCC - Suezmax - Suezmax - Floating Floating Floating Floating 53% 52% 28% 28% VLCC - Fixed VLCC - Fixed 4% 6% Dry Docks Q3: 2 Suezmax Q4: 6 Vessels – 3 VLCC, 3 Suezmax (of which 1 JV) 8
Slide 10: Tanker Market Update
Tanker Market Update
Slide 11: Tanker Fleet Developments
Tanker Fleet Developments 10 10
Slide 12: Time charter rates
Suezmax VLcc W) oO .) 40) L L Le) + Cc © om O oO = a Timecharter Rates ——Syr TC ‘Syr TC ——tyr TC 45 40 35 Data Source: Clarksons. “Data to 23 October 2015 11 @euranav
Slide 13: Vessel Values
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Slide 14: Current Themes
Current Themes MARKET China Port Congestion Tier III environmental legislation (January 2016) 13 13
Slide 15: Outlook
Outlook
Slide 16: Euronav Outlook
Euronav Outlook Acquisition delivering tangible benefits Delivery of the VLCC Antigone in late September and placed into global fleet immediately Euronav – vast majority of fleet on water today Largest exposure per dollar invested in tanker sector Delivery of 3 outstanding VLCCs by May 201
Slide 17: Market outlook
Market outlook Strong Q4 winter season looks likely Ton-mile effect of new routes restricting vessel supply Seasonal refinery turnaround & congestion impacting early in Q4 Oil tanker demand – persistent upgrades through 2015 Lower oil price driving improved demand outlook China structure