Welcome to presentation of Preliminary results 2002 14 February 2003

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Welcome to presentation of Preliminary results
200214 February 2003
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Preliminary results 2002
STATEMENTS OF INCOME
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Preliminary results 2002
BALANCE SHEETS
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Preliminary results 2002
RESULTS 2000-2002
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Preliminary results 2002
OPERATING PROFIT BEFORE DEPRECIATION - PER SEGMENT
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Preliminary results 2002
RESULT PER SHARE
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Preliminary results 2002
CASHFLOW
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Preliminary results 2002
CASHFLOW PER SHARE
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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 2002.
• LHC is positioned in less volatile segments
  (Ro/Ro and LNG) for which
• Entry barriers are considered high LHCs
  business is based on high level competence,
  knowledge based systems and logistics solutions
  and long term freight contracts and customer
  relations.

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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)
• HUALs 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 (145 000 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)

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