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EAGE 2014 INVESTOR PRESENTATION – TGS

TGS · Jun 16, 2014 · 23 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. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 1
    TGS EAGE 2014 Investor Presentation June 2014
  2. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 2
    This is TGS Leading provider of multi-client seismic data and related geoscientific products to TGS Main Offices the oil & gas industry Main offices: Houston and Oslo Regional offices: London, Perth, Calgary, Singapore and Rio de…
  3. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 3
    TGS Competitive Advantage Asset light business model Flexibility Investment decisions not driven by vessel utilization Vendor neutral philosophy allows access to capacity and technology as needed Quality Global Balance sheet…
  4. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 4
    Diversified Portfolio With Different Characteristics Characteristics TGS multi-client project portfolio Return targets + 1.7X 2.0X 2.5X + 2.5X Prefunding 70 120% 40 60% 20 40% requirements Awarded acreage Mainly open…
  5. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 5
    TGS Performs in all Cycles EBIT margin vs. Seismic peers Return on Capital Employed 80% 80% 60% 70% 40% 60% 20% 50% 0% 40% -20% 30% -40% 20% -60% 10% -80% 0% -100% 1998 1999 2000 2001 2002 2003 2004 2005 2006…
  6. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 6
    Financials 7
  7. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 7
    Key Financials Net Revenues EBIT before non-recurring items 215 245 281 211 210 191 271 222 140 50% 300 13 10 250 7 120 11 40% 6 12 100 200 29 9 80 30% 139 204 150 109 218 137 127 155 60 118 120 20% 100 138 94 101 98 94 40 89…
  8. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 8
    Net Revenue Breakdown Q1 2014 Q1 2013 GPS GPS 7% 8% 2D 20% 2D 25% 3D 3D 72% 68% Q1 2014 Q1 2013 Other Other 11% 10% AMEAP 13% AMEAP 25% NSA 45% NSA Europe 64% 13% Europe 19% 9
  9. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 9
    Q1 2014 Income Statement USD million, except EPS Q1 2014 Q1 2013 Change in % Net operating revenues 222 211 5% Cost of goods sold proprietary and other 2 16 -85% Amortization of multi-client library 41% 87 70 25% Gross margin 133…
  10. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 10
    Q1 2014 Cash Flow Statement USD million Q1 2014 Q1 2013 Change in % Received payments 307 262 17% Payments for operational expenses (37) (48) -24% Paid taxes (47) (36) 32% Operational cash flow 223 179 25% Investments in tangible…
  11. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 11
    Q1 2014 Balance Sheet USD million Q1 2014 Q4 2013 Change in % Assets Cash equivalents 366 281 30% Financial investments available for sale 4 4 0% Other current assets 349 447 -22% Total current assets 718 731 -2% Intangible assets…
  12. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 12
    Investments per Vintage 3% 800 714 700 100% 100% 600 500 63% 400 381 299 300 270 60% 200 153 48% 100 40% 7% 20% 13% 0 0% 10% 2010 2011 2012 2013 WIP Original investments Maximum allowed NBV (year-end) Net…
  13. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 13
    Net Revenues vs. Net Book Value per Vintage 70% 64% 60% 51% 50% 40% 30% 26% 23% 20% 10% 7% 8% 8% 4% 5% 3% 2% 0% 0% Pre-2010 2010 2011 2012 2013 WIP Net revenues Net book value 14
  14. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 14
    Continued Growth in Returning Cash to Shareholders Proposed dividend of NOK 8.5 per share Dividend per share (NOK) and Dividend Yield for the 2013 accounting year 9 8.5 5.5% Shares quoted ex dividend on 8 4 June 2014 8 Dividend…
  15. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 15
    Outlook 16
  16. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 16
    Broker Surveys Suggest E&P Spend Growth in 2014 Broker surveys suggest E&P spending will increase in the low-to-mid single digit range this year Source: 2008-2013: Barclays; 2014 forecasts: Barclays, Cowen, ABG, Carnegie, SEB, JP…
  17. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 17
    Outlook EUR 2014 Northwest Europe acquisition season commenced with 2D, 3D, P-Cable and CSEM surveys in the Barents Sea Norwegian 23rd Licensing round and APA round announced Hoop basin block nominations in 23rd round following…
  18. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 18
    License Round Activity and TGS Positioning North & South America Africa, Middle East, Asia Pacific Europe / Russia Central GOM Mar 2015 (5-Year Plan) Madagascar 2014 (expected) Norway APA Sep 2014 (bids due) Western GOM Aug 2014…
  19. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 19
    Backlog Historical Backlog (MUSD) 2010 - 2014 300 250 200 150 281 242 100 211 213 188 185 178 134 153 143 146 106 117 110 124 50 98 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2010 2010 2010 2011 2011 2011…
  20. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 20
    NSA Capacity Secured for 2014 EUR AMEAP 3D Vessel Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CGG Alize Gulf of Mexico BGP Prospector Benin Sanco Swift Brazil JV Polar Duchess Australia Option Geo Caspian Australia…
  21. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 21
    Summary Strong start to 2014 with Q1 revenues of 222 MUSD Q1 2014 Operating profit of 94 MUSD, 42% of net revenues Q1 2014 multi-client investments of 129 MUSD TGS continues to benefit from its well positioned library and continues…
  22. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 22
    TGS Performs in all Cycles EBIT margin vs. Seismic peers Return on Capital Employed 80% 80% 60% 70% 40% 60% 20% 50% 0% 40% -20% 30% -40% 20% -60% 10% -80% 0% -100% 1998 1999 2000 2001 2002 2003 2004 2005 2006…
  23. EAGE 2014 INVESTOR PRESENTATION – TGS – slide 23
    Thank you 2014 TGS-NOPEC Geophysical Company ASA. All rights reserved.

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