Investor Presentaiton
US Outlook
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Management increasingly confident of meeting sales growth targets
Better visibility from being on major programmes
Better margins/mix following new product launches
EBITDA margin bottomed in Q1 2013 and rose to 10% in 3Q 2013
100
90
70
60
50
21%
Adjusted EBITDA, US$ mln
ON WAS
1Q 2012
Source: TMK data
14%
25%
20%
15%
10%
10%
9%
8%
7%
5%
2Q 2012 3Q 2012 4Q 2012
Adjusted EBITDA, US$ mln
5%
0%
1Q 2013
2Q 2013
EBITDA Margin, %
3Q 2013
EBITDA Margin, %
Improving outlook on demand side with four LNG terminals so far approved (with more seeking
approval), plus exports to Mexico through new pipelines, Coal-to-Gas switching and the CO2 kicker in
the power market. Plus industrial demand for the next 5 years could go beyond the historical 1.4%
GAGR of the last 5 years.
21
TMKView entire presentation