Q3 Trading update Business performance Divisional results - PowerPoint PPT Presentation

Q3 2014 11 NOVEMBER 2014 ANALYST PRESENTATION Q3 Trading update

Business performance Divisional results Selective capital Looking ahead Forward-looking disciplined growth 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 future, and Vopak cannot guarantee the accuracy and completeness of forward-looking statements. These risks and uncertainties include, but are not limited to, factors affecting the realization of ambitions and financial expectations, developments regarding the potential capital raising, exceptional income and expense items, operational developments and trading conditions, economic, political and foreign exchange developments and changes to IFRS reporting rules. Vopak’s EBITDA outlook does not represent a forecast or any expectation of future results or financial performance. Statements of a forward-looking nature issued by the company must always be assessed in the context of the events, risks and uncertainties of the markets and environments in which Vopak operates. These factors could lead to actual results being materially different from those expected, and Vopak does not undertake to publicly update or revise any of these forward-looking statements. 2 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Business performance 3 Analyst presentation Q3 2014 Vopak staff at the recently acquired Haiteng terminal

Business performance Divisional results Selective capital Looking ahead disciplined growth Highlights Q3 2014 trading update Actions business review, 2 July, in progress • Divestment program • Capex reduction plans • Sharpen business development plans • Organizational efficiency • Actions resulted in exceptional items Q3 results encouraging • Positive but cyclical developments • Challenging and competitive business climate remains We raised our Outlook 2014 • Q4 result expected to be lower than our Q3 result 4 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Outlook 2014 EBITDA -excluding exceptional items- outlook In EUR million 753 -5% >740 >700 Spot Difficult Currency contracts business effects climate Europe -10% Whilst we expect our Q4 result to be lower than our Q3 result we raise our outlook and 2013 Q1 2014 Q2 2014 Q3 2014 expect EBITDA – excluding exceptional items - for the year 2014 to exceed EUR 740 million. 5 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Q3 2014 summary EBITDA* EBIT* On 2 July 2014, Vopak In EUR million In EUR million published the outcome of the business review. Vopak has +9% -5% updated its terminal portfolio -9% +7% criteria for existing terminals 196.3 201.9 185.6 and new projects and will 145.2 141.5 131.8 enhance its capital and organizational efficiency. Q3 2012 Q3 2013 Q3 2014 Q3 2012 Q3 2013 Q3 2014 Occupancy rate*** Net profit** On 29 September 2014, Vopak In percent In EUR million announced it has obtained all regulatory approvals and -18% +13% finalized registrations for the acquisition of a 30% equity 88.8 91% 89% 87% 82.3 72.6 interest in Haiteng. Q3 2012 Q3 2013 Q3 2014 Q3 2012 Q3 2013 Q3 2014 * Excluding exceptional items; including net result from joint ventures and associates; ** Net profit attributable for holders of ordinary shares – excluding exceptional items- ; *** Subsidiaries only. 6 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Q3 YTD 2014 summary EBITDA* EBIT* In EUR million In EUR million -1% 0% -4% -5% 576.4 570.1 568.4 427.5 412.1 392.8 Q3 YTD 2012 Q3 YTD 2013 Q3 YTD 2014 Q3 YTD 2012 Q3 YTD 2013 Q3 YTD 2014 Occupancy rate*** Storage capacity Net profit** In percent In million cbm In EUR million -10% -6% 33.0 91% 30.6 88% 89% 29.9 259.9 235.0 220.5 Q3 YTD 2012 Q3 YTD 2013 Q3 YTD 2014 Q3 YTD 2012 Q3 YTD 2013 Q3 YTD 2014 Q3 2012 Q3 2013 Q3 2014 * Excluding exceptional items; including net result from joint ventures and associates; ** Net profit attributable for holders of ordinary shares – excluding exceptional items- ; *** Subsidiaries only. 7 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Q3 YTD 2014 EBITDA analysis 12.1 11.8 570.1 568.4 15.3 0.7 4.5 557.1 13.0 1.1 Q3 YTD 2013 FX-effect Q3 YTD 2013 against FX 2014 /Divestments Americas Netherlands Asia EMEA LNG Q3 YTD 2014 /Greenfields Acquisitions /Pre-opex • 8 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Q3 YTD 2014 net result of joint ventures Netherlands EMEA -22% -53% 36.2 Net result of +11% 28.3 +64% joint ventures 13.3 2.0 1.8 1.1 -2% -21% Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD 83.0 81.7 2012 2013 2014 2012 2013 2014 64.5 Americas Global LNG Asia +16% -8% +2% +7% Q3 YTD 2012 Q3 YTD 2013 Q3 YTD 2014 29.0 26.8 24.9 -11% -75% 22.1 21.7 20.2 0.9 0.8 0.2 Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD 2012 2013 2014 2012 2013 2014 2012 2013 2014 Note: Amounts in EUR million; including associates; excluding exceptional items. 9 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Q3 YTD 2014 EBIT Q3 YTD 2013 Q3 YTD 2014 Delta In EUR million In EUR million In EUR million - 21.7 Group operating profit 318.2 296.5 Net result joint ventures - 44.1 92.5 48.4 incl. exceptional items EBIT incl. exceptional items 410.7 344.9 - 65.8 - 19% (46.5) Exceptional gain (loss) (1.4) (47.9) - 5% EBIT excl. exceptional items - 19.3 412.1 392.8 1.73 EPS excl. exceptional items * 1.84 - 0.11 1.39 - 0.46 EPS incl. exceptional items * 1.85 During Q3 2014, exceptional losses of EUR 32.6 million were recognized due to impairments (EUR 28.6 million) and organizational alignments (EUR 4.0 million). *Attributable to holders of ordinary shares in EUR. 10 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Occupancy rate developments Occupancy rate In percent 90-95 % Full potential playing field Current playing field 85-90 % 96 95 94 94 93 93 93 92 91 91 90 90 88 89 88 87 87 88 88 89 84 ’ 04 ’ 05 ’ 06 ’ 07 ’08 ’ 09 ’10 ’ 11 ’ 12 ’ 13 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2012 2013 2014 Note: Subsidiaries only. 11 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Non-IFRS proportionate information Proportionate Q3 EBITDA* Proportionate Q3 YTD EBITDA* In EUR million In EUR million +5% -1% -1% -4% 626 619 213 216 612 205 Q3 2012 Q3 2013 Q3 2014 Q3 2012 Q3 2013 Q3 2014 Occupancy rate subsidiaries and joint ventures Cash Flow Return on Gross Assets In % In % 94% 92% 92% 90% 88% 88% 12.3% 12.2% 11.8% 11.6% 10.9% 10.4% 2009 2010 2011 2012 2013 Q3 YTD 2009 2010 2011 2012 2013 Q3 YTD 2014 2014 * excluding exceptional items. 12 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth Divisional results 13 Analyst presentation Q3 2014 New tankpit Midex at Europoort terminal

Business performance Divisional results Selective capital Looking ahead disciplined growth Netherlands EBITDA* In EUR million 69.6 68.2 68.0 66.2 63.3 62.8 61.2 62.0 59.8 60.9 59.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 Occupancy rate** Storage capacity In percent EOP in million cbm 9.5 9.5 9.5 93% 89% 88% 88% 87% 87% 86% 85% 84% 82% 83% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 2012 Q3 2013 Q3 2014 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 * Including net result from joint ventures and associates; excluding exceptional items; ** Subsidiaries only. . 14 Analyst presentation Q3 2014

Business performance Divisional results Selective capital Looking ahead disciplined growth EMEA EBITDA* In EUR million 36.7 34.7 34.2 32.3 33.6 33.0 31.8 31.5 30.4 28.9 28.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 Occupancy rate** Storage capacity In percent EOP in million cbm 9.6 9.7 89% 89% 90% 87% 87% 87% 88% 85% 85% 9.0 83% 80% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 2012 Q3 2013 Q3 2014 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 * Including net result from joint ventures and associates; excluding exceptional items; ** Subsidiaries only. . 15 Analyst presentation Q3 2014