Siem Offshore Inc. Presentation CEO Terje Sorensen 10 September 2014
Contents 1. Company Overview 2. Financials 3. Contract Backlog, Future Yard Instalments and Financing 3
Company Overview Main Activities and Growth Main Activities Owner and operator of Offshore Support Vessels (OSVs) Contractor within the Offshore Renewable Energy segment, with primary focus on installation of submarine power cables…
Company Overview - Geographical Footprint - Siem Offshore has Local Presence in Key Markets Employees: Total Employees: 1,100 Offshore Employees: 850 Onshore Employees: 250 Vessels, including partly owned: Segments Current fleet…
Company Overview - Fleet in Operation - 44 Vessels in Operation Vessels in operation 101) AHTS Vessels 6 OSCV 112) 3) PSV (3,600 5,100 dwt) 17 Other vessels Scientific Core Drilling Vessel 1 6) 7) Canadian Other fleet…
Company Overview - Fleet in Operation - 10 Anchor Handling Tug Supply Vessels in operation Geographical presence Key data AHTS Segment Amounts in Operating Operating Operating Operating 2 vessels USD million revenue expenses…
Company Overview - Fleet in Operation - 11 Platform Supply Vessels in operation and 5 vessels under construction Geographical presence Key data PSV Segment Amounts in Operating Operating Operating Operating 1 vessel USD million…
Company Overview - Fleet in Operation - 6 Offshore Subsea Construction Vessels in operation Geographical presence Key data OSCV Segment Amounts in Operating Operating Operating Operating USD million revenue expenses margin margin…
Company Overview - Vessels under Construction - 11 Vessels to be Delivered Next 3 Years, including one vessel in Secunda 2014 2015 2016 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q OSRV, Siem Maragogi OSRV, Siem Marataizes PSV DF, Siem…
Company Overview Siem Offshore Contractors (SOC) - a 100% owned subsidiary of Siem Offshore Company Profile Status and Highlights Provides complex engineering solutions and Current Backlog of approx. USD 198 million(1). services for…
Company Overview Siem Offshore Contractors (SOC) - Submarine power cable activities by main projects Amrumbank West OWF Baltic 2 OWF Nordsee One Nordsee One OWF Awarded Mar, 2012 Feb, 2013 Dec, 2012 Apr, 2014 Installation of 86…
Contents 1. Company Overview 2. Financials 3. Contract Backlog, Future Yard Instalments and Financing 14
Financials - Income Statement First Half 2014 Six Months Ended 2014 2013 2013 Amounts in USD million Unaudited Unaudited Audited Operating revenue 208.6 172.3 364.0 Operating expenses ( 109.8) ( 100.3) ( 190.6) Administration…
Financials - Financial Position 30 June 2014 Comments: 1. Book equity ratio of 39%. (all in USDm) 2. Fleet value adjusted equity ratio at 50%. Other Cur. Assets Current Liabilities Cash & Equiv. 3. Secured bank debt to market…
Contents 1. Company Overview 2. Financials 3. Contract Backlog, Future Yard Instalments and Financing 17
Contract Backlog - Approximately USD 1.9bn of Firm Contract Backlog as of 30 June 2014. Comments: Firm contracts for vessels (USD 1.7bn): 2014 USD 221 million 2015 USD 300 million 2016 onwards USD 1,190 million Approximately 85%…
Future Yard Instalments and Debt Financing - From 2Q 2014 until year end 2016 Total financing gap in the period 2Q 2014-16 of approx. USD 85 million Assumed new mortgage debt of approx. USD 130 million FRN 14/19…
Scheduled Debt Maturity Profile 6M 2014 - 2019 Comments: 1. The graph reflects committed and assumed mortgage debt for all 11 vessels(1) under construction per end of 2Q 14. 2. Gross debt expected to peak in 2016 based on existing…
Summary - Fleet development 2014-2016 - Expanding in attractive subsea segment, adding new vessel technology and entering new segment 55 56 51 52 Vessels in 46 48 41 41 Operation(1) 2013 2014 2015 2016 Delivery of first two…
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