ceo presentation annual general meeting 2012
DESCRIPTION
CEO Presentation Annual General Meeting 2012TRANSCRIPT
1
Årsstämma
Annual General Meeting
27 April 2012
CEO Henning E. Jensen
2
TransAtlantic in Brief
Two business areasIndustrial Shipping (IS), HQ GothenburgViking Supply Ships (VSS), HQ Copenhagen
About 850 employees
62 vessels, 48 within IS and 14 within VSS
Listed on the NASDAQ OMX Stockholm, segment Small Cap
5 854 shareholders (Dec 31, 2011)
3
2011 - Highlights
• Viking Supply Ships: New management and headquarters in Copenhagen
• Industrial Shipping: New management and headquarters in Gothenburg
• New share issue of approximately SEKM 555
• Acquisition of Österströms and SBS Marine
• Completion of newbuild program
4
2011 – highlights cont’d
• New agreements with – Cairn Energy– Shell – Sakhalin Energy
• Njord Viking begins a four-year charter for ENI Norge
• New cargo agreements with FNsteel and Stora Enso
5
Operational profit/loss Group
(SEK M)
283
-272
-121
-213
281
-350
-250
-150
-50
50
150
250
350
2007 2008 2009 2010 2011
6
Operational profit/loss Viking Supply Ships (SEK M)
233
45
-72-25
230
-350
-250
-150
-50
50
150
250
350
2007 2008 2009 2010 2011
7
Operational profit/loss Industrial Shipping(SEK M)
-140-105
81 81
-113
-350
-300
-250
-200
-150
-100
-50
0
50
100
150
2007 2008 2009 2010 2011
8
Financial position
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
2007 2008 2009 2010 2011
Equity ratio (left scale)
9
Change in cash balance (SEK M)
393
574
327
637
548
0
100
200
300
400
500
600
700
2007 2008 2009 2010 2011
Cash balance
10
Share price 2011
0,00
5,00
10,00
15,00
20,00
25,00
30,00
jan feb mar apr maj jun jul aug sep nov dec
Shar
e pr
ice
(SEK
)
0
100
200
300
400
500
600
Volu
me
trad
ed
Rederi AB TransAtlantic volume ('000) Rederi AB TransAtlantic share price (SEK) NASDAQ OMX Stockholm P I (rebased) OSE2030 Transportation
11
Key figures 2011TransAtlantic In total IS VSS
2011 2010 2011 2010 2011 2010
Net sales SEKM 2,989 2,394 2,259 1,865 568 298Operational result before tax -272 -121 -113 -105 -72 45Result before tax -466 407 -248 -352 -126 45Result after tax -435 585
Earnings per share after tax -6.6 14.3Shareholders’ equity SEK/share 22.5 43.2Return on equity, % -17.8 32.8Return on capital employed, % -6.9 12.8Equity/asset ratio 39.5 46.6
Industrial Shipping
Head of Industrial Shipping: Kim Sörensen
13
Snapshot 2011
• Acquisition of Österströms
• Relocation of headquarters to Gothenburg
• New agreement with Stora Enso
• New agreements with FNsteel and Nordkalk
• New terminal in Hull, UK
• Disclosure of Atlantic traffic and TransSuomi Line
• ISO certification of fleet and companies completed
14
2011 – a challenging year
• 2011 trended downwards and ended very weak
• The beginning of 2012 was a continuation of Q4 2011
• The overall markets are still very weak with slight improvements in the horizon
We need to make some fundamental changes to improve performance
15
Focus 2012 - Turn around Industrial Shipping
• Cost reductions by – structural changes in organization including land offices
and ships – Adjustment of ship capacity to current volumes– Renegotiation of TC costs– Bunker efficiency
• Significant upgrading of our commercial activities both in Sweden and our core markets – focus on business
• New strategy to focus on profitable growth
Viking Supply Ships
Head of Viking Supply Ships: Christian Berg
17
Focus 2011
• Renamed the Company from TransViking to Viking Supply Ships
• New main office in Copenhagen, Denmark
• New management team
• Delivery of two newbuilds
• 5 vessels reflagged to DIS
• Increase in contract backlog
• Acquired SBS Marine (6 PSVs), nowfully integrated and renamed
- improved performance
18
Focus 2012• Strategic positioning in North Sea and Arctic areas
• Strong market fundamentals with increased E&P spending, high drilling activity and significant rig newbuild orders
• 19 arctic basins with increasing E&P activity spur a need for environmentally friendly support vessels with ice class
• Demand for AHTS with sub arctic features set to increase by 15% from 2011 to 2013 (Source: RS Platou)
• Continued focus on term contracts
19
SummaryViking Supply ShipsGrowing marketWell positionedExciting story
Industrial ShippingTough marketReposition and refocus in 2012Ambition to be Best in Class
20
Thank You!