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LLX Corporate Presentation September 2011

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  • 1. Corporate PresentationSeptember 2011
  • 2. 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 Relations
    Otávio Lazcano – CEO
    Luiz Felipe Jansen de Mello – IR Manager
    Tel. 55 21 2555-5661
    ir@llx.com.br
  • 3. EBX’spubliclyheldcompanies
    LLX wascreated in March 2007, to providelogisticservicesthroughthedevelopmentof major port systems in Brazil.
    Its mainstrengths are:
    • Strategiclocationsandlargeback-areas;
    • 4. Integrationwithexistingrailandroad
    infrastructure;
    • Lowcostoperationalmodel (privateterminals);
    • 5. Longtermtake-or-paycontractsandsynergiesgeneratedwithinthe EBX Group;
    • 6. Experienced management team;
    • 7. SecuredDebtFinancing Sources;
    • 8. Social andEnvironmentalResponsibility
    MktCap
    US$ 1.8 bn
    MktCap
    US$ 2.4 bn
    MktCap
    US$ 23.4 bn
    MktCapEBX Group**
    US$ 35.7 bn
    MktCap
    US$ 3.2 bn
    MktCap
    US$ 3.0 bn
    * As of August 31st2011
    R$/USD – 1,5896
    ** Includes PortX (Mkt Cap US$ 1.9 bn)
  • 9. LLX Ownershipand Corporate Structure
    Controlling
    Shareholder
    OtherMinority
    Shareholders
    54%
    28%
    18%
    51%
    70%
    LLX Açu
    LLX Minas-Rio
    49%
    30%
    Centennial
    Açu Superport
  • 10. LLX: Location, location, location
    Hinterlandof 75% ofBrazilian GDP
    • Integrated with rail, highway – leapfrog from truck to coastal barging;
    • 11. 150 km from Campos oilbasin (85% of Brazil oil production);
    • 12. Natural workshop for the pre salt in Brazil: one stop shop for the oil and gas industry;
    • 13. AçuSuperport : Brazil’s new route to China (Source: FT; May 9th, 2011).
    Campos OilBasin
  • 14. LLX: InnovatingPort’sInfrastructure
    LLX: Açu Superport
    A TypicalBrazilianPort
    LLX´s Port-Industry Complex: world-class logistic solutions
    Environmental Reserve
    • No area for portgrowth
    • 15. Logisticbottlenecks
    • 16. Açu Industrial Complex: 90 Km2
    • 17. Environmental Reserve: 40Km2
    Industrial District concept under develpoment
  • 18. LLX: UncloggingBrazil’sLogistics
    LLX´s Ports: reinforcing Brazil´s capesize capacity and beyond
    Amazon River
    Itaquí
    Fortaleza
    Manaus
    Suapé
    Salvador
    Vitória
    Santos
    Paranaguá
    São Francisco do Sul
    Rio de Janeiro
    Rio Grande
    80% of the Brazilian population lives within 200 km (124 miles) of the coast
    Only7% ofBrazilianPorts are able to receivecapesizevessels*.
    Source : (*) CEL/COPPEAD 2008 – vol 1 andPort Sites
  • 19. LLX’s Business Model
    LLX is signing long term agreements with industry leaders guaranteeing a steady cash flow and dividends to shareholders
    RevenueModel
    Services Rendered
    Company
    • Take or Pay long-term contract (25 years) with Anglo.
    • 20. Initial ore shipment July 2013. Expected revenues of US$ 190 million.
    LLX Minas Rio
    • Iron Ore handling
    • 21. Multi product handling (Steel,Coal,Liquid & Dry Bulk,General Cargo);
    • 22. Land Lease and Services & Utilities
    • 23. Tariffs negotiated to ensure a minimum 15% py IRR to firm in US$ (under Long Term contracts) unleveraged.
    LLX Açu
  • 24. Açu Industrial ComplexA new cluster for theoffshoreandheavyindustry
    90 km² Industrial Complex (1,5x largerthan Manhattan Island)
  • 25. Açu Superport - Highlights
    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, able to receive 40 very large carriers (including Chinamax) thanks to its 25m draft.
    More than 60 contracts and MoUs signed with companies from sectors such as:
    Steelmaking (Ternium, Wuhan);
    Power generation (MPX);
    Cement (Votorantim , Camargo Correa);
    Offshore Industries (Acergy, Technip);
    Resources and cheaper energy supply security, operating and logistic efficiencies, truly just in time practices and 2% VAT instead of 18%.
    • OilandGas;
    • 26. Metal Mechanic;
    • 27. Dry & LiquidBulkHandling;
    • 28. Automotive;
    • 29. General Cargo & Services.
    Largest and most efficient port-industry complex in Latin America : total investments of US$ 40 billion
  • 30. Açu Superport: Uniquelocationandintegration to main railway andhighway network
    A Complete LogisticCorridor
    • BR 101 to be duplicated
    • 31. A 43 km new railway track will connect Açu Superport to the railway and Campos withina multimodal Logistic Corridor
  • Açu Superport: A OneStop Shop for theOil & GasIndustry
    VLCC/ ChinamaxTankers
    Export
    Storage & Treatment
    ConsolidationandOnshoreStorage:
    Campos Basin
    85% ofBrazilOilProduction
    Small TankersShuttle
    1.2 millionbpd
    For Export & CoastalShipping
  • 32. Açu Superport : OilTreatmentFacility
    FPSOs
    For 800,000 bpd
    (+)
    Dewatering
    Blending
    Desalting
    OilTreatmentFacility
    Investmentof US$ 1.45 billion
    Business opportunitywith a leveraged IRR > 70% py
    OilExport
    VLCCs
  • 33. TX1: oneofthelargestoffshore terminal in Latin America for Iron Ore andOil
    OIL
    IRON ORE
    OIL
  • 34. TX1: Maincharacteristics
    • ThrestleCompleted : 3,000 m
    • 35. QuayLength: up to 4,000 m
    • 36. NumberofBerths: 9
    • 37. 5 dedicated to Oil (up to 1.2 mbpd)
    • 38. 4 dedicated to Iron Ore (up to 100 mtpy)
    • 39. Initial Dredging: 21 m to bedradgedup to 25 m for VLCCsandCapesizes
    Iron Ore Pier: 100% completed
  • 40. TX1: Offshore TerminalTugboatPierand 100% ofIron Ore PierCompleted
    3.000 m
    27.5 m
    444 m
  • 41. TX1: Dredging for executionofOilTreatmentFacility’slandfill
  • 42. TX1: Offshore TerminalRocksStockyard : Breakwaterconstructionunderway
  • 43. Açu BreakwaterTheworld’slargetsconcreteblockbuilder
  • 44. TX2: Thelongestandmostefficientquay for bulkcargoesandoffshore industries
    STEEL PRODUCTS / VEHICLES
    SLAG / PIG IRON / GRANITE
    OFFSHORE IND.
    OSX SHIPYARD
    COAL
    SUPPLY BOAT
  • 45. TX2: Maincharacteristics
    • Total QuayLength : 13,000 m
    • 46. OnshoreChannelWidth: 300 m
    • 47. Total Area: 8,000,000 m2
    • 48. Extension: 6,500 m
    • 49. Uniqueadvantages for Oil & GasE&Psegment
    • 50. Able to handleCoal, SteelProducts, DryandLiquidBulks
    Offshore Industries/
    BulkCargoes
  • 51. TX2: DredgingoftheCannal
  • 52. TX2: DredgingoftheCannal
  • 53. TX2: OnshoreChannel – DredgingSequence
  • 54. Açu Superport: MainActivities
    • CAPEX (for projects @ 100%)
    • 55. LLX Minas-Rio: R$ 1.0 billion
    • 56. LLX Açu (Non Ore): R$ 2.4 billion
    Iron Ore:
    SteelProducts
    Real Estate
    Industrial AreasRental
    Oil
    Up to 10.2 Mtpy
    Up to 100 Mtpy
    Up to 1.2 Mbpd
    Coal
    Up to 12.6 Mtpy
    Granite
    Up to 1.0 Mtpy
    PigIron
    Up to 2.0 Mtpy
    Slag
    Up to 2.0 Mtpy
  • 57. Açu Superport: Milestones
    Açu Superport ConstructiononTrack
    1H13
    2008
    2011
    2H13
    2H06
    1H06
    2H07
    2009
    1H12
    1H07
    2010
    2H12
    Under Construction
    UnderConstruction
    UnderConstruction
    Under Construction
    Under Construction
    Constructionbegins
    2H13
    Projectdetailing
    ConstructionLicense
    Start Up
    LLX Minas-Rio
    EnvironmentalLicense
    ANTAQAuthorization
    UnderConstruction
    OnshoreEnvironmentalLicense
    OffshoreConstruction
    License
    ProjectDetailing
    LLX AÇU
    OffshoreEnvironmental
    License
    OnshoreConstruction License
    ANTAQAuthorization
    Under
    Construction
    Construction
    begins
    Start Up
    Development
    Construction
    Operations
  • 58. CAPEX for Açu Superport
    Açu Superporttotal CAPEX: R$ 3.4 billion
    Minas Rio: R$ 1.0 billion*
    LLX Açu: R$ 2.4 billion
    Actual
    Estimated
    * Reimbursementof LLX Minas Rio CAPEX exceeding R$ 974 million
  • 59. Financial Highlights
    4.000
    3.500
    600
    547
    339
    3.000
    847
    300
    2.500
    2.415
    2.000
    3.389
    1.500
    2.542
    1.000
    500
    974
    -
    LLX
    LLX Açu
    Total
    Debt
    Total
    Equity
    LLX
    LLX
    Minas Rio
    CAPEX
    Equity
    Partners
    Equity
    Existing
    Needed
    Needed
    Equity
    Capital Increase as of March/2009
    Initial equity
  • 60. www.llx.com.br
    Email: ir@llx.com.br
    Phone: +55 21 2555 5661