LEIF HÖEGH & CO Welcome to presentation of Preliminary results 2002 14 February 2003.

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Presentation transcript:

LEIF HÖEGH & CO Welcome to presentation of Preliminary results February 2003

LEIF HÖEGH & CO STATEMENTS OF INCOME Preliminary results 2002

LEIF HÖEGH & CO BALANCE SHEETS Preliminary results 2002

LEIF HÖEGH & CO RESULTS Preliminary results 2002

LEIF HÖEGH & CO OPERATING PROFIT BEFORE DEPRECIATION - PER SEGMENT Preliminary results 2002

LEIF HÖEGH & CO RESULT PER SHARE Preliminary results 2002

LEIF HÖEGH & CO CASHFLOW Preliminary results 2002

LEIF HÖEGH & CO CASHFLOW PER SHARE Preliminary results 2002

LEIF HÖEGH & CO Strategy The strategy has been further implemented in 2002 and is paying off…  Operating results developed satisfactory for core segments Ro/Ro and LNG  We see growth opportunities in Ro/Ro and LNG and have established a basis for growth taking positions in 7 new Ro/Ro vessels and 2 new LNG vessels  The financial position of LHC is solid and was further strengthen in  LHC is positioned in less volatile segments (Ro/Ro and LNG) for which:  Entry barriers are considered high: LHC’s business is based on high level competence, knowledge based systems and logistics solutions and long term freight contracts and customer relations.

LEIF HÖEGH & CO Highlights 2002  Important long term contracts were concluded with solid partners –Airbus: transportation of aeroplane parts for minimum 20 years –Statoil and Snöhvit Seller Group: LNG transportation contract for minimum 20 years –TotalFinaElf: LNG transportation contract in minimum 20 years  Capacity growth –Kiwi Car carriers developed positively in its first year in operation within HUAL (POVs to NZ) –HUAL’s Ro/Ro capacity increases in 2003 with 3 large PCTCs taken on charter up to 10 years –3 + options PCTC (6100 ceu) ordered from Daewoo for delivery in 2005 –1 Ro/Ro for Airbus ordered from Jinling for delivery in 2004 –2 LNG vessels ( m3) ordered from Mitsubishi HI  The strategy was further implemented –The commercial operation of open hatch was transferred to Saga Forest Cariers –3 reefers were sold (one for delivery 1st quarter 2003)

LEIF HÖEGH & CO E N D