March 29, 2017
Florida East Coast Railway At a Glance
- 2016 sales: US$404mm
- 2016 EBITDA: US$154mm
- Employees: 1,227
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Fleet: 73 locomotives /4,294 cars
502 trucks / 3,850 (trailers/containers/chassis)
- Operations: Over 400 clients / 540,000 annual carloads
Transaction At a Glance
- FEC EV: US$2.1Bm
- EBITDA PRO Forma: US$930mm
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Largest Regional Railroad in North America
Highest revenue per track mile of any major railroad in North America (high efficiency and high quality infrastructure)
Direct connection between the nation's Class I railroads and Florida's largest freight markets
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Unique infrastructure asset and unparalleled location
Only freight railroad with direct intermodal service into Florida and exclusive access to Florida's largest container ports
Primary gateway to and from Florida, the 3rdlargest state in the U.S. in terms of population and 4thin terms of GDP
Only freight railroad with direct intermodal service into Florida and exclusive access to Florida's largest container ports
70% of Continental U.S. is available within 1 to 4 days
Florida is the 16thlargest economy of the world giving us access to a unique market
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Expand GMXT's exposure to the U.S. freight market
Expand and consolidate GMXT's presence and geographic footprint in the U.S. complementing our Texas Pacific operations
Further diversify revenue sources and increased exposure to dollarized markets
Increased diversification of customers, products and geography
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Strong growth track record and compelling growth potential
2009 - 2016 EBITDA CAGR of 11.7% (more than doubled since 2009)
Future growth driven by strategic investments already underway mainly focused on transformational developments
Expansion of the Panama Canal will consolidate Florida as a key gateway to North America
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Optimize GMXT's capital structure
Optimizing our capital structure while maintaining a solid financial position and disciplined leverage metrics
Powerful cash flow generation: US$929mm consolidated 2016 EBITDA
Immediate 20% EBITDA contribution to GMXT with attractive profitability, yet attractive room for improvement
− 43.8% vs. 38.1% 2016A EBITDA margin for GMXT and FEC, respectively
The only railroad in Florida's east coast Critical transportation asset with virtually impossible to replicate locationFEC extends 351 miles (565 kilometers) along Florida's east cost from Jacksonville to Miami
Owns/leases and operates ~270 miles of branch, switching and other secondary track and 115 miles of yard track
Exclusive access to the main container ports in Florida (Miami, Everglades and Palm Beach)
Key link to the United States rail network
FEC's footprint serves as a key transportation artery that must be used to access vital ports and transport goods efficiently across the state
FEC was acquired by Fortress in 2007 through the acquisition of Florida East Coast Industries, holding company that included FEC and owns other real estate and infrastructure assets
Grupo Mexico SAB de CV published this content on 29 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 April 2017 07:28:13 UTC.
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