Sc Scans nshi hip p Hol oldi ding AS ASA Vilnius September 23, 2016 Henrik Badin – CEO
Disclaimer This presentation (the “Presentation”) has been produced by Scanship Holding ASA ("Scanship" or the "Company") exclusively fo r information purposes. This Presentation includes forward-looking statements regarding Scanship, including projections and expectations, which involve risk and uncertainty. Such statements are included without any guarantee as to their future realization. Although Scanship currently believes that the expectations regarding the Company reflected in such forward-looking statements are based on reasonable assumptions, no assurance can be given that such projections will be fulfilled. Any such forward-looking statement must be considered a long with the knowledge that actual events or results may vary materially from such predictions due to, among other things, political, economic, financial or legal changes in the markets in which Scanship does business, and competitive developments or risks inherent to the Compan y’s business plans. Many of these factors are beyond Scanship’s ability to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Accordingly, the Company does not accept any responsibility for the future accuracy of the forward-looking statements expressed in this Presentation or the actual occurrence of the forecasted developments. The Company does not intend, and does not assume any obligation, to update any such forward-looking statements as of any date subsequent to the date hereof. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including, without limitation, projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, the Company does not accept any liability whatsoever arising directly or indirectly from the use of this Presentation. By receiving this Presentation, the recipient acknowledges that he will be solely responsible for its own assessment of the market and the market position of the Company and that he will conduct his own analysis and be solely responsible for forming his own view of the potential future performance of the businesses of the Company. This Presentation must be read in conjunction with the recent financial information, as well as other publicly disclosed information. Nothing in this Presentation, nor any other information provided to the recipient by the Company or any of its advisers constitutes, or may be relied upon as constituting, investment advice or any financial, tax or legal advice by such persons or anybody else. 2
Cruise Industry 3
Cruise Industry in 2016 – fact sheet Passenger Cruising Total Economic Impact Cruise Fleet $120 billion 315 ships 23,6 million 31,7 31,2 29,6 Passenger Origin Capacity Deployment Passenger Development 27,4 (million passengers) 26,0 What about What about 4 % 23,6 China ? China ? 14 % 6 % 22,1 3 % 9 % 34 % 21,5 5 % 20,4 19,5 53 % 17 % 18,1 17,9 25 % 16,3 16,8 30 % Industry Capacity 15,4 2016 = 505,000 Caribbean Europe 14,5 US Europe … lower berths Others Asia Australia China 13,2 Others Australia Alaska 11,4 12,2 11,2 4
Cruise Space 2016 – largest players + capacity 5 year newbuld plan current berth capacity Will NCL allow MSC to pass in size during the next 5 years ? 185 cruise ships ≈ 420,000 berths ≈ 83% of market ≈ 38% growth with firmed newbuilds until 2021 5
Cruise newbuilding market until 2021 18 newbuilds 11 newbuilds 8 newbuilds 4 newbuilds $14 billion $7,9 billion $8,2 billion $3,5 billion 70,000 berths 40,000 berths 38,000 berths 13,000 berths Carnival placed an order When will NCL confirm for 2+2 newbuilds new orders ? September 23, 2016 in addition 8 newbuilds 3 newbuilds 4 newbuilds 12 newbuilds $6,6 billion $1,8 billion $1,2 billion $3,5 billion 8,400 berths 3,800 berths 20,000 berths 9,000 berths TPG with partner injected Rumours speaks of 22 Market rumorus: $500m to strenghten balance newbuilds and a total 50+ projects in the sheet = to build more ships ? investment of $15 billion expedition / luxury (TPG took NCL public) segment 68 newbuilds ≈ $47 billion of aquisitions ≈ 200,000 berths 6
About Scanship In brief Company structure • Cruise industry greentech company • Revenue driven by industry growth, adoption of new environmental policies, need for efficient waste handling aboard. Financials Q performance • Headquartered in Norway with subsidiaries in USA and Canada for sales and service Revenue & Gross margin and Poland for production 60 • 35% 50 FY2015 - Revenue NOK200m, EBITDA NOK 40 30% 11,3m and Net Pre-Tax NOK 7m 30 25% • 20 Orderbook 2Q16. NOK 200m 20% 10 • New game changing technologies in pipeline - 15% Project Aftersales Margin % Business model scope of services Aftersales Manufacturing Sales & Engineering & Service, spares & assembly Commissioning R&D Procurement Installation marketing Design & chemicals (outsourced)
Company offering
Scanship AWP – NCL & RCCL newbuilds 9
Scanship Waste Mgmt. System 10
11
Scanship references – with the biggest players # of system installed Customers Main Projects [total system] Retrofit of AWP for Alaska of the entire NCL fleet between 2002-06, Retrofit on Oceania Sirena in 2016 1) On all NCL newbuilds from 2004 including ship class Jewel, PoA, Epic, [ ] 9 11 6 26 Breakaway (from 2010) and Breakaway Plus (from 2013) 6 newbuilds with total clean ship systems AWP Retrofit on Serenade of the Seas for Alaska in 2004 AWP Retrofit of Voyager Class and Vision class prepared for Helcom 2010 - [ ] 2014 7 10 5 22 Total Clean ship on Freedom Class 2005-08 & Waste on VI/RP 1996-98 AWP on Quantum class (Helcom) & Oasis class (Alaska) from 2012 Carnival Destiny & Conquest Class, 7 newbuilds 1995-04 HAL’s Vista Class, 7 newbuilds & Cunards QM2 1999 -05 [ ] 1 21 2 24 P&O Arcadia 1999-05 and Costa newbuilds, 5 newbuilds 2003-09 Foodwaste retrofits Costa Tropical 2001 & Queen Elisabeth 1995 Carnival Vista in in service 2016 with Scanship AWP Waste mgmt systems on the Musica Class – 4 newbuilds 2005-12 [ ] 4 8 12 Total Clean ship systems with waste mgmt & AWP on Fantasia Class – 4 newbuilds 2006-2013 ResidenSea, SilverSea Cruises, Viking Ocean Cruises, TUI Cruises, Jamaica 2) Airport Authority, Paul Gauguin Cruises for newbuilds – total 10 newbuilds Other [ ] 7 5 8 3 23 Discovery Sun, Regent Seven Seas Navigator, Hurtigruten, Star Cruises; Color Line, Paul Gauguin for retrofits – 8 retrofits Number of Scanship Total Clean Ship Systems – 4 newbuilds AWP newbui uild ld AWP retrofit fit Waste mgmt. newbui uild ld Waste mgmt. retrofit fit [ ] [ ] [ ] [ ] 28 48 26 5 1) Scanship has delivered systems to previous NCL vessels that have been sold explaining higher number of deliveries than current NCL fleet 2) Includes 2 land based waste managment plants at airports in Jamaica
Scanship orderbook - 21 newbuilds until 2020 NCL Brekaway Class CCL Vista Class RCCL Quantum Class MSC Meraviglia Class RCCL Harmony (Oasis) Class Genting Dream Class TUI Mein Schiff Class Viking Star Class Silver Muse Class
Shipyard orderbook until 2021 20 newbuilds 25 newbuilds 12 newbuilds 5 newbuilds 6 newbuilds $17,9 billion $12,3 billion $10,7 billion $4,7 billion $1,2 billion 78,000 berths 54,000 berths 52,000 berths 13,000 berths 5,000 berths Fwd project revenue opportunity for Scanship ≈ NOK 500 million in existing yard orderbook 14
AWP retrofit growth opportunity • High tendering activity expected to bring orders - higher industry focus AWP retrofit potential • IMO decision on Helcom implementation (# of vessels) is expected to re-boost demand 128 • Oceania Cruises placed an order with 382 138 ~ NOK 2.3bn Scanship for a Helcom compliant system 116 on the Oceania Sirena Total Already installed Excluded Retrofit potential AWP • AWP retrofit cruise market size is estimated to be ~ NOK 2.3bn Fwd project revenue opportunity for Scanship ≈ NOK 2,3 billion in retrofits 15
New technology to “fuel” growth • Waste to energy system based on microwave assisted pyrolysis • More compact than conventional waste management systems • Will operate unrestricted 24/7/365 as it will not have a flue gas, Zero discharges to the sea, other than clean water • Significant carbon capture in char, with revenue opportunities • Expected attractive ROI for ship-owner will drive growth within newbuilds, retrofits and new markets 16
Scansh nship ip Holding ng ASA Lysaker Torg 12 P.O. Box 465 1327 Lysaker Norway Phone: +47 67 200 300 E-mail: mail@scanship.no www.scanship.no 17
Recommend
More recommend
