PRESENTATION OF Q4 2014 27 February 2015 CEO Asle Solheim CFO Henning Nordgulen Hanytangen, November 2014 1
AGENDA Highlights in Q4 14 CEO Asle Solheim Financial and operational review Bergen Group going forward 3
KEY FIGURES Q4 2014* - GROUP LEVEL Bergen Group ASA Key figures in TNOK Q4 2014 Q4 2013 Gross operating revenues 357 110 80 203 EBITDA 14 408 (88 978) Depreciation and w rite-dow ns 24 443 5 399 EBIT (10 035) (94 377) Order backlog -…
KEY FIGURES FULL YEAR 2014* - GROUP LEVEL Bergen Group ASA Key figures in TNOK 31.12.2014 31.12.2013 Gross operating revenues 752 291 1 107 572 EBITDA (7 201) (50 872) Depreciation and w rite-dow ns 40 371 104 000 EBIT (47 572) (154…
HIGHLIGHTS IN Q4 2014 - GROUP LEVEL (I) Services with stable activity and profit margin Activity growth towards offshore segment. Temporary reduction in maritime and naval service. Strong order backlog of NOK 171 million. Option on…
HIGHLIGHTS IN Q3 2014 - GROUP LEVEL (II) Offshore segment with two rig projects in Q4 Dry-docking of Borgland Dolphin. Comprehensive 5 year classing and upgrade project successfully completed. The rig departed from the dry dock on…
Borgland Dolphin in dry dock at Hanytangen
AGENDA Highlights in Q4 14 Financial and operational review CFO Henning Nordgulen Bergen Group going forward 9
INCOME STATEMENT Q4 2014 Condensed consolidated interim statement of income Figures in TNOK Q4 2014 Q4 2013 31.12.2014 31.12.2013 Operating revenues 357 110 80 203 752 291 1 107 572 Cost of goods sold 221 856 1 874 366 407 626 208…
QUARTERLY DEVELOPMENT GROUP LEVEL* *Continued business Strong increase in revenues in the continued operations. Positive development of the EBITDA/EBIT, adjusted for non- recurring expenses and write-downs. Non-recurring…
QUARTERLY DEVELOPMENT - SEGMENTS Two rig projects at Hanytangen in Q4; solid capacity utilisation. Reduced activity in the Services segment considered as temporary. Stable profit margins in line with previous quarters. 12
QUARTERLY DEVELOPMENT - SEGMENTS Significant cost from the discontinuation of activities; Settlement with subcontractors. Claim and guarantee payments related to previous divested companies and shipbuilding projects. Increased…
CASH FLOW Condensed consolidated interim statement of cash flow Figures in TNOK Q4 2014 Q4 2013 31.12.2014 31.12.2013 Profit before tax (continued and discontinued operations) (75 812) (122 036) (182 242) (131 512) Depreciation and…
BALANCE AND LIQUIDITY END OF Q4 2014 Balance sheet: Total assets at 31 December 2013: NOK 2 342 million Total assets at 31 December 2014: NOK 1 277 million Equity as at 31 December2014: NOK 368 million (29 %) Net interest bearing…
AGENDA Highlights in Q4 14 Financial and operational review Bergen Group going forward CEO Asle Solheim 16
TWO YEARS WITH GROWTH IN ORDER BACKLOG Positive development for continued business in the last two years. Robust mix between Services and Offshore segment 17
BERGEN GROUP AND THE WAY FORWARD (I) Offshore-segment Decrease in the offshore activity related to the NCS is not expected to have a near-term impact on Bergen Group. Successful dry-docking project completed Strong interest in the…
BERGEN GROUP AND THE WAY FORWARD (II) Services Strong order backlog; growth expected 1st half 2015. Solid and varied portfolio in the market; both long term frame contracts and spot projects. Enterprise purchase of Fjell Industries;…
IR AND MEDIA CONTACTS CEO Asle Solheim tel. (+47) 993 28 465 asle.solheimbergengroup.no CFO Henning Nordgulen tel. (+47) 952 65 990 henning.nordgulenbergengroup.no SVP Communications yvind Risnes (media), tel. (+47) 480…
Hanytangen November 2014 THANK YOU FOR YOUR ATTENTION.
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