Royal Vopak Nv · EURONEXT:VPK
Royal Vopak Nv — Q1 2017 Earnings Presentation
19 slides from Royal Vopak Nv's earnings presentation, Apr 19, 2017
Slide 1: Interim update Q1 2017 results
Interim update Q1 2017 results• Jack de Kreij, Vice-chairman & CFO 19 April 2017 – Analyst presentation 1
Slide 2: Forward-looking statement
Forward-looking statement This presentation contains ‘forward-looking statements’, based on currently available plans and forecasts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the
Slide 3: Key figures excluding exceptional items
Key figures -excluding exceptional items- Positive developments in Q1 2017 compared to the previous quarter, while results are lower compared to Q1 2016 Revenues* EBITDA** In EUR million In EUR million Terminal network In million cbm 347.9 341.8 214.7 +3% vs. Q4 16 338.8 206.2 203.8 203.1 332.0 328.
Slide 4: Capacity developments
Capacity developments Successful commissioning of the Banyan Cavern Storage services in Singapore in Q1 2017 Storage capacity +2.8 In million cbm 2.5 38.5 0.3* 1.0 35.7 34.7 FY 2016 Expansions Q1 2017 Brownfield Greenfield 2019 *Includes the newly announced brownfield expansion in the Port of Santos
Slide 5: Occupancy rate developments
Occupancy rate developments Performance in line with outlook. Confident to achieve an average occupancy rate of at least 90% in 2017 Occupancy rate* In percent 90-95% 85-90% 93 93 92 93 94 94 93 92 91 88 88 91 2010 2011 2012 2013 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 2016 2017 *Subsidiaries only Q1 2017 Int
Slide 6: Q1-Q4 EBITDA analysis
Q1-Q4 EBITDA analysis Improved results in Asia, the Americas and LNG offset mainly by the Netherlands +2% 4.4 5.1 4.7 203.1 1.3 2.2 2.4 199.8 0.6 1.2 197.6 0.2 Acquisitions/ Pre-OPEX Q4 2016 Divestments FX-effect Actual Q4 Asia Americas LNG Netherlands EMEA Other Q1 2017 Greenfields, 2016 against FX
Slide 7: Q1-Q1 EBITDA analysis
Q1-Q1 EBITDA analysis Improved results in EMEA, the Americas and LNG more than offset by mainly the Netherlands -3% 4.3 0.9 214.7 1.1 2.3 1.2 3.8 209.1 1.0 203.1 9.4 12.2 Acquisitions/ Pre-OPEX Q1 2016 Divestments FX-effect Actual Q1 EMEA Americas LNG Asia Netherlands Other Q1 2017 Greenfields, 2016
Slide 8: EBIT to Net profit analysis
EBIT to Net profit analysis Q1 2017 Q4 2016 Q1 2016 EBIT 135.4 128.9 150.4 Net finance costs 25.8 25.9 25.8 Profit before income tax 109.6 103.0 124.6 Income tax 21.6 19.4 17.1 Net profit 88.0 83.6 107.5 Non-controlling interests 11.5 12.1 10.7 Net profit to holders 76.5 71.5 96.8 of ordinary shares
Slide 9: Segmentation
Segmentation Occupancy and EBITDA development per division Occupancy rate* Netherlands Asia EBITDA** 92 80 100 80 91 91 91 92 96 96 90 75 94 94 75 90 92 95 70 70 88 75.5 90 74.6 75.6 74.0 75.4 65 72.5 70.7 65 72.5 86 67.8 63.1 60 85 60 84 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 2016 2016 2016 2016 2017 2016 2
Slide 10: Update projects
Update projects Alemoa (Brazil) Brownfield expansion with 16 new tanks (61,000 cbm) and five additional loading bays Supported by long-term contracts Ethanol exports and fuel imports Exmar The finalization of the transaction is still ongoing and is subject to consent and cooperation of multi
Slide 11: Looking ahead
Looking ahead 2005 - 2007 2008 - 2010 2011 - 2013 2014 - 2016 2017 - 2019 812 822 763 Continue long-term 304 growth journey 88 104 124 37 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 • As previously stated in the full year 2016 disclosure in February 2017, Vop
Slide 12: Questions & answers
The world’s leading independent tank storage company building Questions & on an impressive history of more answers• than 400 years
Slide 13: Appendix
Q1 Interim update Appendix • Jack de Kreij, Vice-chairman & CFO 19 April 2017 – Analyst presentation 13
Slide 14: Q1 2017 Netherlands developments
Q1 2017 Netherlands developments Occupancy rate* Revenues* In percent In EUR million 92 96 92 126.4 119.2 85 88 110.8 109.9 117.6 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Storage capacity EBITDA** EBIT** In million cbm In EUR million In EUR million 9.5 9.5 9.9 9.9 9.9 75.5 49.4 68.2 63.1 41
Slide 15: Q1 2017 EMEA developments
Q1 2017 EMEA developments Occupancy rate* Revenues* In percent In EUR million 89 91 96 93 63.0 68.3 80 58.4 58.5 44.6 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Storage capacity EBITDA** EBIT** In million cbm In EUR million In EUR million 9.4 9.6 9.7 34.7 34.0 34.6 25.6 25.2 7.9 7.9 28.9 27.6
Slide 16: Q1 2017 Asia developments
Q1 2017 Asia developments Occupancy rate* Revenues* In percent In EUR million 95 95 90 92 91 95.6 94.8 99.5 89.7 86.7 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Storage capacity EBITDA** EBIT** In million cbm In EUR million In EUR million 12.7 75.4 74.6 75.4 59.3 58.3 58.8 11.7 70.7 57.1 10.3
Slide 17: Q1 2017 Americas developments
Q1 2017 Americas developments Occupancy rate* Revenues* In percent In EUR million 91 91 89 92 90 78.1 67.6 68.0 61.1 56.9 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Storage capacity EBITDA** EBIT** In million cbm In EUR million In EUR million 3.7 36.4 24.3 3.3 3.3 3.4 3.4 29.4 31.4 19.2 20.7
Slide 18: Q1 2017 JVs and associates
Q1 2017 JVs and associates Netherlands Americas In EUR million In EUR million 0.7 0.7 0.7 0.4 0.4 0.2 0.1 0.2 0.0 0.0 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 EMEA LNG In EUR million In EUR million Net result JVs and associates 10.9 8.8 8.7 In EUR million 6.3 6.5 8.7 6.7 8.0 8.3 9.4 31.7 20
Slide 19: Interim update Q1 2017 results
Interim update Q1 2017 results • Jack de Kreij, Vice-chairman & CFO 19 April 2017 – Analyst presentation 19