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Corporate PresentationNovember 2011
Disclaimer
This presentation relating to LLX Logística S.A. (“LLX”) includes “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking statements and are often characterized by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “may”, “will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of operations. Forward-looking statements include projections regarding our operating capacity, operating expenditures, capital expenditures and start-up dates.
By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in such statements may not be indicative of results or developments in future periods. We caution participants of this presentation not to place undue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from these statements.
Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals and licenses on a timely basis or at all, and changes in economic, political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on forward-looking statements to make decisions, investors should carefully consider these factors as well as other uncertainties and events.
LLX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell (which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States, or any other jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without LLX’s prior written consent.
Investor RelationsOtávio Lazcano – CEO
Luiz Felipe Jansen de Mello – IR Manager Tel. 55 21 2555-5661
EBX’s publicly held companies
Mkt Cap EBX GroupUS$ 38.1 bn
Mkt CapUS$ 1.6 bn
Mkt CapUS$ 2.4 bn
Mkt CapUS$ 2.8 bn
Mkt CapUS$ 3.0 bn
Mkt CapUS$ 27.2 bn
October 31st, 2011
R$/USD – 1,68
LLX is part of the EBX Group, an industrial conglomerate founded and led by Brazilian entrepreneur Eike F. Batista, who has a proven track record in developing new projects in the infrastructure and natural resources sectors.
EBX Group’s investments are concentrated in the companies LLX (logistics), MMX (mining), MPX (energy), OGX (oil and gas) and OSX (offshore industry), listed on the Novo Mercado of the BM&FBOVESPA, the segment with the highest standards of Corporate Governance.
3
Brazilian Port Sector
The brazilian port facilities operate with current bottlenecks such as:— Land access restrictions— Small and low-skilled berths— Draft restrictions— Lack of automation in cargo handling
The private capital is essential to promote the development of brazilian port infrastructure
Rio Amazonas
Manaus
Itaquí
Fortaleza
Suapé
Salvador
Vitória
Santos
Paranaguá
São Francisco do Sul
Rio Grande
Typical Brazilian port: strangled by the growth of the city
80% of the population lives 200 km from the coast
4
A LLX
LLX was created in March 2007, to provide logistic services through the
development of major port systems in Brazil:
Strategic location and large back-areas;
Capability to receive large vessels;
Contiguous industrial area;
Integration with existing rail and road infrastructure;
Low cost operational model (private terminals);
Long term take-or-pay contracts and synergies generated within the EBX Group;
Social and Environmental Responsibility
5
Timeline
LLX is created
Anglo American
acquires 49% of
LLX Minas-Rio
Mar/07
LLX shares begin trading
on the BOVESPA Stock
Exchange Jul/07
Jun/08
Dez/09
Installation License
for Logistics Yard
Out/09Installation License for
MPX’s Thermal
PowerPlant
Jul/10 ANTAQ’s Authorization
Set/10
Installation
License for OTF
Out/10LLX’s Partial Spin Off/Portx is created
Jul/11
Installation License
for Onshore Terminal ANP’s Authorization for OTF
Out/11
Environmental
License for Ternium
MoU with FCAAgo/11
Out-Nov/11
TX2 land lease contracts
signed: OSX, NKTF and
Technip
6
LLX Ownership and Corporate Structure
54%
Other Minority
Shareholders
18% 28%
51% 70%
LLX Minas-Rio
LLX Açu
Centennial
30%49%
Açu Superport
Controlling
Shareholder
7
LLX: Location, location, location
Integrated with rail, highway –
leapfrog from truck to coastal
barging; 150 km from Campos oil basin (85%
of Brazil oil production); Natural workshop for the pre salt in
Brazil: one stop shop for the oil and
gas industry; Açu Superport : Brazil’s new route
to China (Source: FT; May 9th, 2011).
Hinterland of 75% of Brazilian GDP
Campos Oil Basin
8
Açu SuperportAuthorization to move 1.2 mbpd
Expo
rt
Storage & Treatment
VLCC/ Chinamax Tankers
Campos Basin
85% of Brazil Oil Production
9
Açu SuperportUnique location and integration to main railway and highway network
BR 101 to be duplicated A 43 km new railway track will
connect Açu Superport to the railway and Campos withina multimodal Logistic Corridor
A Complete Logistic Corridor
10
Açu SuperportUnique location and integrationwith the railway network
11
LLX: capability to receive VLCCs/ChinamaxOnly 7% of Brazilian Ports are able to receive capesize vessels*
Source : (*) CEL/COPPEAD 2008 – vol 1 and Port Sites
12
LLX’s Business Model
LLX is signing long term agreements with industry leaders guaranteeing a steady cash flow and dividends to shareholders
Company
LLX Minas Rio
LLX Açu
Services Rendered
Iron Ore handling
Multi product handling (Steel,Coal,Liquid & Dry Bulk,General Cargo);
Land Lease and Services & Utilities
Revenue Model
Take or Pay long-term contract (25 years) with Anglo.
Initial ore shipment July 2013. Expected revenues of US$ 190 million.
Tariffs negotiated to ensure a minimum 15% py IRR to firm in US$ (under Long Term contracts) unleveraged.
13
Açu Industrial Complex A new cluster for the offshore and heavy industry
TERNIUM STEEL PLANT
TERNIUM STEEL PLANT
LOGISTICS YARD/ OTF LOGISTICS YARD/ OTF
ENVIRONMENTAL RESERVE AREA
40KM2
ENVIRONMENTAL RESERVE AREA
40KM2
X CITYX CITYWUHAN STEEL
PLANTWUHAN STEEL
PLANT
SILICON VALLEYSILICON VALLEY
METAL-MECHANIC INDUSTRIES
METAL-MECHANIC INDUSTRIES
OFFSHORE INDUSTRIES
STEEL/SOLID BULKSTEEL/SOLID BULK
MPX THERMAL POWER PLANTS
MPX THERMAL POWER PLANTS
3.000 m
1.400 m
IRON ORE IRON ORE
CRUDE OIL
CRUDE OIL
OSX SHIPYARD
OSX SHIPYARD
15.000 m
IRON ORE TERMINALIRON ORE TERMINAL
14
COALCOAL
CEMENT PLANTSCEMENT PLANTS
NKTF
3.721 m2.843
m
300 m
TECHNIP
LIQUID BULKLIQUID BULK
SUPPLY BOAT
SUPPLY BOAT
Açu SuperportHighlights
Up to 350 million tons port complex with 2 terminals (TX1 and TX2), to be ranked
among the 3 largest ports in the world.
17 km of quay, up to 40 berths and able to receive very large carriers (including
Chinamax) thanks to its 26 meters draft.
More than 60 contracts and MoUs signed with companies from sectors such as:
Resources and energy supply security, operating and logistic efficiencies, truly just in
time practices and 2% VAT instead of 18%.
Largest and most efficient port-industry complex in Latin America : total investments
of US$ 40 billion
Oil and Gas;
Metal Mechanic;
Dry & Liquid Bulk Handling;
Automotive
Steelmaking (Ternium, Wuhan);
Power generation (MPX);
Cement (Votorantim , Camargo
Correa);
Offshore Industries (Acergy, Technip);
15
TX1One of the largest offshore terminal in Latin America for Iron Ore and Oil
IRON ORE IRON ORE
CRUDE OIL CRUDE OIL
16
TX1: Main characteristicsIron Ore Pier 100% completed
Threstle Completed : 3,000 m
Quay Length: up to 4,000 m
Number of Berths: 9
5 dedicated to Oil (up to 1.2
mbpd)
4 dedicated to Iron Ore (up to
100 mtpy)
Initial Dredging: 21 m to be
dradged up to 26 m for VLCCs and
Capesizes
17
Açu Superport : Oil Treatment Facility
Desalting DewateringBlending
Oil Treatment Facility
Investment of US$ 1.45
billion
Oil Export VLCCs Business opportunity with a leveraged IRR >
70% py
FPSOs For 800,000 bpd
(+)
18
TX1: Offshore TerminalTug boat Pier and 100% of Iron Ore Pier Completed
3.000 m
444 m
27.5 m
19
TX1: Dredging for execution of Oil Treatment Facility’s landfill
20
Açu BreakwaterThe world’s largets concrete block builder
21
Kugira Docked at Porto do Forno, in Arraial do Cabo
22
Concrete Block for the Breakwater construction
23
TX2The longest and most efficient quay for bulk cargoes and offshore industries
OFFSHORE INDUSTRIES
OSX SHIPYARD
OSX SHIPYARD
COALCOAL
NKTF
STEEL/SOLID BULKSTEEL/SOLID BULK
TECHNIP
SUPPLY BOAT
SUPPLY BOAT
LIQUID BULKLIQUID BULK
MPX THERMAL POWER PLANTSMPX THERMAL POWER PLANTS
24
TX2Main characteristics
Offshore Industries/
Bulk Cargoes
Total Quay Length : 13,000 m
Onshore Channel Width: 300 m
Total Area: 8,000,000 m2
Extension: 6,500 m
Unique advantages for Oil & Gas
E&P segment
Able to handle Coal, Steel
Products, Dry and Liquid Bulks
25
TX2Onshore Channel – Dredging Sequence
26
TX2Dredging of the Cannal
27
TX2 Dredging Evolution
August/2011
Cyrus II began the process of dredging the channel and is progressing at a rate of 25 meters per day, extracting a daily volume of 34,000 m3 of sand.
November/2011
28
Açu SuperportMain Activities
CoalUp to 12.6 Mtpy
Up to 10.2 Mtpy Iron Ore: Steel ProductsReal Estate
Industrial Areas RentalUp to 100 Mtpy Oil
Up to 1.2 Mbpd
Pig IronUp to 2.0 Mtpy
SlagUp to 2.0 Mtpy
GraniteUp to 1.0 Mtpy
29
Açu SuperportMilestones
2H13Açu Superport Construction on Track
1H06 2H06
Projectdetailing
Under Construction
1H07 2H07
Constructionbegins
EnvironmentalLicense
ANTAQAuthorization
ConstructionLicense
ProjectDetailing
OffshoreConstruction
License
ANTAQAuthorization
OffshoreEnvironmental
LicenseConstruction
beginsUnder
Construction
Start Up
Start Up
Development
Construction
Operations
LL
X A
ÇU
LLX
Min
as-R
io
2008 2009 2010 2011 1H131H12 2H12
Under Construction
Under Construction
Under Construction
Under Construction
2H13
OnshoreEnvironmental
License
OnshoreConstruction
License
Under Construction
30
Açu SuperportCapex: R$ 3.8 bilion
Iron Ore ProjectLLX Açu
Capex 3T11: R$ 272 million
Total Capex (Project) : R$ 2.8 billion
Total Capex (Project) : R$ 2.273 billion
Capex (2007 -2011) : R$ 1.5 billion
Capex LLX Minas-Rio: R$ 974 million
Capex AFMR : R$ 1.3 billion
Cash Position: R$ 530.6 million
Total Debt: R$ 888.1 million
Net Debt: R$ 357.5 million
31
Contracts SignedAnnual Revenues: R$ 67 million
MPX
Term: 35 years, renewable for a further 35 years
Area:2,243,800m2
Rvenue : R$9.17 million per year
Start Date: November 24th, 2010NKTF
Term: 20 years, renewable for a further 20 years
Area:121,905m2 – with 210m of quay
Revenue: R$8 million per year
Start Date: October 20th , 2011OSX
Term: 40 years, renewable for a further 40 years
Area: 3,200,000m2
Revenue: R$28 million per year
Start Date: October 31st , 2011Technip
Term : 25 anos, renewable for a further 25 years
Area:289,800m2 – with 500m of quay
Revenue: R$22 million per year
Start Date: November 18th, 2011
32
LLX: Social & Environmental Responsibility
Professional Qualification Program Turtle Release - partnership with the Tamar Project Actions to strengthen the fishing activity
$ 70 million already invested in more than 50 social and environmental projects
Assistance programs to fishing activities, society and environment
Professional Qualification Program in partnership with Senai trained nearly 800
people and will provide 3,300 positions for professional development courses and
technical support in 2012
40 km ² area dedicated to create an Environmental Reserve
Health and safety programs
The Acu Superport at full capacity will generate 50,000 jobs
33
w w w.llx.com .br
Em ail: ir@ llx.com .br
Phone: + 55 21 2555 5661
www.llx.com.brEmail: [email protected]
Phone: +55 21 2555 5661