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3rd Quarter 2015 Results – Spectrum Asa

Spectrum Asa · Oct 30, 2015 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 3rd Quarter 2015 Results – Spectrum Asa – slide 1
    3rd Quarter 2015 Results Unaudited October 30th 2015
  2. 3rd Quarter 2015 Results – Spectrum Asa – slide 2
    CAUTIONARY STATEMENT This presentation contains both statements of historical fact and forward looking information. Any forward looking information is based on management assumptions and analysis and are subject to risks and…
  3. 3rd Quarter 2015 Results – Spectrum Asa – slide 3
    Q3 2015 Highlights Q3-15 Q3-14 Change Net Revenue MUSD 18 MUSD 53 -66% EBITDA MUSD 11 MUSD 45 -75% EBIT MUSD (5) MUSD 18 -129% Q3 2015 MC investments of MUSD 13, down from MUSD27 Q3 2014 Amortization rate of 87% in the…
  4. 3rd Quarter 2015 Results – Spectrum Asa – slide 4
    Q3 2015 Highlights New library promotion in progress A global 3 year sales and marketing plan implemented Mexico project is 70% completed in acquisition Cooperation with SLB and PGS License round in Brazil with disappointing…
  5. 3rd Quarter 2015 Results – Spectrum Asa – slide 5
    Spectrum: Then & Now 2010
  6. 3rd Quarter 2015 Results – Spectrum Asa – slide 6
    Spectrum: Then & Now 2015
  7. 3rd Quarter 2015 Results – Spectrum Asa – slide 7
    Q3 2015 Highlights Q3-15 Q3-14 Operational Cash Flow MUSD 27 MUSD 37 MC Investment MUSD 13 MUSD 27 CAGR MC investment 40% 2011-2014
  8. 3rd Quarter 2015 Results – Spectrum Asa – slide 8
    Q3 2015 MC Revenue by Region Q3 Net revenue MUSD 18 YTD Net revenue MUSD 67 24 9 9 41 2 0.2
  9. 3rd Quarter 2015 Results – Spectrum Asa – slide 9
    Financials
  10. 3rd Quarter 2015 Results – Spectrum Asa – slide 10
    Q3 2015 Income Statement Spectrum Group Quarter Quarter 9 months 9 months ended ended Change ended ended Change (USD 1000) 30.09.15 30.09.14 in % 30.09.15 30.09.14 in % Net revenue 18,203 52,843 -66% 67,833 135,435 -50% Amortisation…
  11. 3rd Quarter 2015 Results – Spectrum Asa – slide 11
    Multi-Client NBV & Investments Q3 2015 MC investments MUSD 13 Prefunding 13.8% (no prefunding recognized in Mexico) Amortization Q3 2015 87.8% (Q3 2014: 50.9%) 250 233 231 200 108 116 112 125 126 131 150 87 86 111 129 MUSD…
  12. 3rd Quarter 2015 Results – Spectrum Asa – slide 12
    Rolling Earnings & Net Sales / Book Value of MC library 2.0 1.8 1.6 1.4 EBITDA 4 quarter rolling / book 1.2 value of MC library rolling 1.0 EBIT 4 quarter rolling / book 0.8 value of MC library rolling 0.6 MC Net revenue 4 quarter…
  13. 3rd Quarter 2015 Results – Spectrum Asa – slide 13
    Investment per Vintage Net Book Value (NBV) as % of original investment per financial year vs. allowed Maximum NBV MUSD 160 146.5 140 92% 120 78% 100.0 100 100% 83.2 80 57.5 65% 60 51.3 44.9 40 40% 35% 56% 20 38%…
  14. 3rd Quarter 2015 Results – Spectrum Asa – slide 14
    Balance Sheet Key Figures SPECTRUM GROUP Assets 30.09.15 30.06.15 31.12.14 (USD 1000) (Unaudited) (Unaudited) (Audited) MC Library 231,067 233,364 131,266 Other Intangible Assets 18,137 17,085 15,434 Tangible Assets 4,964 5,329 5,868…
  15. 3rd Quarter 2015 Results – Spectrum Asa – slide 15
    Q3 2015 Cash Flow Statement SPECTRUM GROUP Quarter Quarter 9 months 9 months 12 months Cashflow ended ended ended ended ended (USD 1000) 30.09.15 30.09.14 30.09.15 30.09.14 31.12.14 Cash flows from operating activities: Profit / (Loss)…
  16. 3rd Quarter 2015 Results – Spectrum Asa – slide 16
    Operations
  17. 3rd Quarter 2015 Results – Spectrum Asa – slide 17
    Operations Summary Two active surveys during Q3 Mexico JV MC2D (three vessels) Australia Rocket MC2D Phase 1 & 2 Signing Multi-Client agreement with the government of Somalia Integration of new library
  18. 3rd Quarter 2015 Results – Spectrum Asa – slide 18
    Areas of High Interest Relevant Licensing activities Ireland - round closed Sep Brazil - 13th round closed Oct Norway - 23rd round in Dec 2015 Gabon - 11th round open Mexico - 1st round ongoing Australia - regular acreage release…
  19. 3rd Quarter 2015 Results – Spectrum Asa – slide 19
    MC2D projects in Q3 Australia Rocket MC2D Phase 1 of 4,000 km completed (red lines) Phase 2 of additional 4,000 km started end Sept (purple lines) Final products available Q2 2016 Supported by industry Mexico MC2D JV Phase 1…
  20. 3rd Quarter 2015 Results – Spectrum Asa – slide 20
    MC2D projects secured in Q3 Securing Somalia MC2D Agreement Exclusive right to acquire 28,000 km offshore South Somalia Includes brokerage of existing 20,000 km data (2014 vintage) Startup scheduled for Q4 Supported by industry
  21. 3rd Quarter 2015 Results – Spectrum Asa – slide 21
    Outlook
  22. 3rd Quarter 2015 Results – Spectrum Asa – slide 22
    2015 Outlook Multi Client investment of MUSD 160 170 Oil company seismic spending reduced with their cost cutting Spectrum focus on sales and cash Oil companies adapting to lower oil price regime

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