corporate presentation - andino investment holding€¦ · · 2014-10-02corporate presentation 1...
TRANSCRIPT
Corporate Presentation
1
We are a peruvian Holding leading to
serve the Logistics Chain for Foreign
Trade for over 30 years, and provide Port
and Airport infrastructure.
AIH is the only company from the Logistics
Sector to be listed on the BVL.
Our Vision is to become the best option in
integrated logistic solutions for our customers. To
innovate and grow proactively and sustainable,
developing new businesses and new investment
opportunities.
3
I. Historic Developement
II. Shareholders
III. Corporate Governance
IV. Company’s Description
V. Real Estate Assets
VI. Philosophy and Value Added
VII. Business Units
4
Historic Developement
5
Cosmos Agencia
Marítima is
founded.
Neptunia starts
operations at
Callao Port.
Triton Transports starts operations
to develope complementary
business activities and provide
freight services.
Cosmos acquires 52.8% of
Neptunia’s shares and becomes
controlling shareholder.
Penta Tanks is formed
and signs a 20 year
contract with Maple
Ethanol.
AAP acquires
concession of
the southern
airports.
TPE acquires concession of
Paita Port.
AIH is formed with Carlos
Vargas Loret de Mola as CEO.
February 2011, AIH acquires
minor ity shares of Neptunia
and Cosmos, becoming 100%
owner.
AIH signs a sindicated loan of
US$ 85MM structured by
Goldman Sachs.
1970 1980 1993 2005 2006 2009 2010 2011
February 02 2012
AIH is listed on
the BVL.
2012
Shareholders
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On February 2 2012, AIH issued an IPO on the Lima Stock Exchage (BVL) of 34.8 million common shares.
These shares represent 25.88% of the equity.
The remaining 74.12% equity is controlled by a group of investors that have worked together since the very
beginning of the first compay at the Group, over 40 years ago. The Vargas Loret de Mola family controls
37.1% of AIH shares, while the 37.1% left is held by Jan Matthies (16.9%), Wolf Krefft (16.9%) and Claus
Krumdiek (3.3%).
37%
17%
17%
3%
26% Familia Vargas Loret de Mola
Jan C. Matthies Estenssoro
Wolf D. Krefft Berthold
Claus Krumdiek Majewski
Float (Acciones Listadas en la BVL)
Corporate Governance
AIH has developed a Corporate Governance Code which guidelines will be extended to all the Group
Companies throughout the year 2012.
AIH’s Board is composed by 7 members, 3 of them are independent:
Dieter Matthies Wacker, President
Carlos del Solar Simpson, Vicepresident (independent director)
Wolf Dieter Krefft Berthold
Enrique Vargas Loret de Mola
Luis Vargas Loret de Mola
Miguel Aramburú Alvarez Calderón (independent director)
Luis Carranza Ugarte (independent director)
Inside the Board there are two comitees: Audit and Corporate Governance. Both Commitees are presided by
independent directors.
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Infrastructure
Maritime Services
Andino Investment Holding (“AIH”) is a group of peruvian companies, leading the Logistic Services and Port
Services and providing Infrastructure. Group Sales run over US$180 millions*.
Logistic Services
Company’s Description
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Empty Container
Storage
Warehousing
Distribution
Stevedoring Services
Pilotage and Towage
Submarine works
Modal interchange
nodes
Long term
Services/solutions
(*) Includes sales at the non consolidating companies (TPE, AAP, among others).
Strategic Real Estate Portfolio
1.2 millions m2 (Lima, Callao and Paita)
Real Estate Assets
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AIH has over 1.2 millions m2 of real Estate Assets of over US$ 300 millions commercial value, conveniently
located in Lima, Callao and Paita.
Infrastructure Area (m2) Commercial Value
AIH
share
OPORSA 578,681 88,289,447 100%
TERRANO 140,890 41,689,625 75%
Logistic Services Area (m2) Commercial Value
AIH
share
NEPTUNIA 473,851 196,719,137 100%
ALMAFIN 18,670 6,512,773 100%
FILE SERVICE 19,716 1,405,068 83%
Maritime Services Area (m2) Commercial Value
AIH
share
COSMOS 16,568 2,368,004 100%
CRECIMIENTO INMOBILIARIO - NAUTILIUS 321 125,690 50%
TOTAL 1,248,696 m2
USD 337,109,744
AIH has expanded its service lines through a “concentric circles” strategy, consolidating a business unit and
then making it grow by expanding the scope of services it offers.
As an example, the presence of the Group at Paita has lead into additional businesses for AIH (sinergy):
AIH Philosophy and Value Added
10
Container storage
Warehouse
Distribution
Stevedoring
Pilotage
Towage
Underwater works
Container transport
EBITDA at AIH business units show the following
developement between 2009 and 2011.
2009:
2011:
Strong historic Growth
Neptunia and Cosmos, the oldest and biggest
companies have grown (sales) over the GDP
growth rate through the last decade:
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CAGR ‘00-’11 Neptunia = 11.81%
CAGR ‘00-’11 Cosmos = 30.26%
CAGR ‘00-’11 PBI = 5.58%
(millions of US$)
Exchange rate: S/. 2.75 / US$ 1
68%
29%
3%
Servicios Logísticos
Servicios Marítimos
Infraestructura
58%
17%
25%
30 27 35
45 51
58 64
77
98 87 90
94
4 5 6
12 13 16 20
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51 47 53 56
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Neptunia Cosmos
Logistic Services
Maritime Services
Infrastructure
Oportunity: Foreign Trade and Infrastructure Gap
12
Foreign Trade Growth
Annual Growth
18%
Trade Agreements
(TLC)
Sustained growth over the last 20
years
Strategic Location
Infrastructure Gap
Mining and Construction Investment
Peru: Investment
Grade
Public and Private
Investment
Ports and Airports
privatization
ANDINO INVESTMENT HOLDING
Business Units
13
13
AIH
NAUTILIUS /
CRECIMIENTO INMOBILIARIO
SVITZER ANDINO
AEROPUERTOS ANDINOS
DEL PERU
TRITON MARITIME SERVICES
PENTA TANKS TERMINALS
COSMOS AGENCIA MARÍTIMA
ANDINO SERVICIOS
COMPARTIDOS
TERMINALES PORTUARIOS
EUROANDINOS
AUGUSTO
FARFAN
OPERADORA
PORTUARIA FILE SERVICE MULTITAINER
TRITON
TRANSPORTS ALMAFIN
INVERSIONES
PORTUARIAS
INMOBILIARIA
TERRANO
50%
50%
50%
50%
NEPTUNIA
83%
75%
Business Units
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Infrastructure
Maritime Services
Logistic Services
I. Infrastructure
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Infrastructure
Maritime Services
Logistic Services
Terminales Portuarios Euroandinos Paita S.A. consortium
conformed by Cosmos and Mota-Engil Group (Portugal), created to
upgrade and operate the port terminal of Paita under a 30-year
concession contract with the Peruvian Government.
Projected Investments come to USD 270 Millions, to be
executed in 4 stages.
Stage 1 started in June 2012 and includes the building of
a new container peer of 12.6 hectareas along with 1 dock
gantry crane and 2 yard gantry cranes.
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Current Infrastructure
Projected Infrastructure
I. Infrastructure – Port
Penta Tanks Terminals (PTT) develops & operates liquid bulk cargo terminals. Its first terminal is
located in Paita and started operations in June 2012, serving Maple Ethanol, an ethanol producer, as its
first customer under a 20 year contract. All production will be stored at AIH’s facilities and then shipped
through a pipeline to the vessels. The first shipment of ethanol was successfully complied on August
2012.
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I. Infrastructure – Port
Operadora Portuaria (OPORSA) is located in the industrial zone of the district of ventanilla, 14km.
north from Callao, in an area of 60 hectares. TPV plan is to develop a private port specialized in the
storage and loading/unloading of bulk cargo.
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I. Infrastructure – Port
Aeropuertos Andinos del Perú (AAP) a consortium conformed by Andino Investment Holding and
Corporación America S.A. (Argentina), won in September 2010 a 25 year concession to build,
modernize and expand a group of airports in the south of Peru (Arequipa, Juliaca, Puerto Maldonado,
Tacna and Ayacucho). First stage of works commenced in March 2012 and includes US$ 57 Millions
investments for a 3 year period. For the rest of the concession term investments will reach an amount of
over US$214millions (subjected to Government approval).
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I. Infrastructure – Airport & Logistics
Inmobiliaria Terrano owns a 14 hectares piece of land adjacent to Lima’s International Airport Jorge
Chávez and very close to the Port of Callao. It will develope a logistic complex that will include 3 areas:
corporate and commercial center, logistics center (air cargo mainly) and two hotel tower under Accor
label.
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I. Infrastructure – Airport & Logistics
II. Logistics Services
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Infrastructure
Maritime Services
Logistic Services
AIH provides the full range of logistics services, which includes: receiving, sorting and storage
of merchandise, packaging and labeling in accordance with the specifications of the end
customer as well as distribution to point of sales it requires.
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II. Logistics Services
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Import & Export Services
Empty Container Storage
Other services: Forwarder, Reefer, among others.
Its main Logistic Services are:
Customs Warehouse
Bulk cargo terminal
Distribution Center
Neptumóvil
Mineral concentrates deposit
Neptunia is the leading logistics operator in Peru with over 30 years experiences in all type of cargo
handling. It holds a key rol on the logistics chain for foreign trade and its main location is only 2 km away
from Callao Port.
Main customers at Neptunia are: (i) Shipping lines, (ii) Importers and Exporters, (iii) Cargo Forwarders and
(iv) Logistics operators and Custom Agents.
Its main Port Services are:
II. Logistics Services
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Market Share (Callao & Paita 2011) Neptunia Operations
Callao
Matarani
Paita
Chiclayo
Elaboración: AIH
Callao
Paita
NEPTUNIA 16%
TRAMARSA 13%
DP WORLD 9%
CONTRANS 9%
ALCONSA 9%
IMUPESA 8%
LICSA 7%
Others 29%
II. Logistics Services
Triton Transports: provides freight services countrywide, offering transport solutions for all types of cargo
such as containers, general cargo, bulk cargo, oversized cargo, pipeline transport, machinery and heavy
equipment, minerals, among others. Triton Transports has a fleet of over 90 trucks.
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II. Logistics Services
Multitainer: started operations in 2008 transforming containers into offices and temporary housing for
construction and mining companies. To date the company has managed to expand their operations to other
similar construction services including design, building, transportation, installation and equipment modules.
Also, the company has expanded its scope to install habitability barges that serve to support the exploration
and exploitation of oil in the continental shelf.
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II. Logistics Services
File Service: was established in 1998 and was acquired by Neptunia in 2007. The company provides
document management solutions, so that improves the handling of customer information. Its facilities are
located in Chilca. The main offered services are: record keeping, handling, storage and custody of
documents, and value added services (file management in the client's office, technical assistance, document
scanning, digital, etc.).
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II. Logistics Services
Almacenes Financieros: was established in 2009 as a General Warehouse officer and is supervised by the
SBS. The main objective of the company is to operate as an authorized trust to issue warrants according to
financial goods stored in it. With these warrants, customers can obtain financing from the banking system.
The main products Almafin receive are: wheat, fish meal, minerals, rice and cereals.
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II. Logistics Services
III. Maritime Services
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Infrastructure
Maritime Services
Logistic Services
III. Maritime Services
Maritime Services provided by AIH include:
Services to the Shipping Lines: offered to the ships that arrive at the ports, such as pilotage,
transportation of personnel and cargo, general supplies, as well as underwater works.
Services to the cargo: procedure and documentary process to customs.
AIH provides services to all kind of vessels: full container, bulk carriers, tanks, passengers’ vessels among
others. AIH has a sophisticated and efficient IT platform that makes possible to provide vessels, ship
owners, exporters/importers and clients in general, with on-line communication, precise information during
the process of reception, permanence and handling of the vessels, as well as the status of their cargo.
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III. Servicios Marítimos
Cosmos Agencia Marítima S.A.C. was established in June 1972. Cosmos is one of the leading maritime
and stevedoring agency nationwide.
Its main services include:
Maritime Agency;
Stevedoring;
Underwater operations;
Several services at marine and riverside terminals.
Cosmos customers are Shipping Lines from all over the world, as well as mining and energy companies.
Cosmos operates the main oil and gas terminals over the country, with companies like Pluspetrol, Camisea,
Perú LNG, Petroperú, Savia, BPZ Energy among others.
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III. Maritime Services
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Market Share (2011) Cosmos Operations in Peru
Elaboración: AIH Ilo
San Martín
Huarmey
Chimbote
Salaverry
Pucallpa
Callao
Talara
Matarani
Paita
Zorritos
Bayovar
San Nicolás
Mollendo
Iquitos
OTROS 49%
RENADSA 6% TRIDENTUM
3% IAN TAYLOR
5%
MEDITERRANEO SHIPPING
6%
COSMOS 15%
TRAMARSA 16%
III. Maritime Services
Svitzer Andino is a joint venture with Svitzer Americas, the world leading towage company with 177 years
experience worldwide. The main services provided by Svitzer Andino are: Los principales servicios que
brinda SA son: Towing to port, docking and undocking of ships, rescue and assistance to ships, prevention
and containment of spills, transfer operations from ship to ship, emergency.
Triton Maritime Services is the company that provides pilotage services. It has over 10 years experience
and operates at the main peruvian ports: Zorritos, Paita, Bayovar, Salaverry, Callao, Pisco and also at the
PERU LNG terminal. In addition, Trimser offers spill containment services.
Nautilius: is a maritime agency operating in Callao for over 30 years. This a consortium with the Romero de
la Puente family (50% / 50%). Its services include: stevedoring, bulk cargo, oil & gas and towage services.
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AIH Presence through the Logistics Chain
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Logistics Management
at Origin (Imp) or
Destination (Exp)
Multimodal Services
Storage
Multimodal Transport
Support
⁻ TPE
⁻ AAP
⁻ Neptunia
⁻ Penta Tanks ⁻ Cosmos
⁻ Neptunia
⁻ Multitainer
⁻ Almafin
⁻ File Service
⁻ Cosmos
⁻ Triton Transports
Export Flow
⁻ Cosmos
⁻ Neptunia
Import Flow
Project Portfolio
As part of the Group growth strategy, AIH has identified a set of potential projects to invest in,
for example:
Misti Bus Terminal
Private initiative to build and operate a bus terminal on a location next to the Arequipa
Airport (competitive advantage).
Se estiman entre 4-5 millones de pasajeros anuales.
Chinchero Airport Concession
AIH has been prequalified to participate in this concession process. Estimated
Investment: US$389MM.
Cusco is the main turistic destiny in Peru.
Port concessions at Ilo, San Martín and Pucallpa
Ongoing businesses would benefit from the related services. Estimated investment:
US$130MM.
Jet Fuel
Jet fuel storage for the southern airports. This service would be provided by penta
Tanks.
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Infraestructura
Servicios Marítimos
Servicios Logísticos
Contacts:
José Balta Del Río
Corporate Chief Financial Officer
(511) 7144444
Susanne Noltenius Aurich
Investor Relations
(511) 3154200
