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Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International

Mcdermott International · May 11, 2015 · 11 slides

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Slides

  1. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 1
    Q115 Supplemental Information May 11, 2015
  2. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 2
    2015 Priorities Focus on executing the current 3.75 billion backlog safely and efficiently Prioritize bidding on opportunities where the Company has a local presence and competitive differentiators Actively manage costs and…
  3. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 3
    1Q 2015 Financial Highlights Financial Results Order intake during the quarter of 697.8 million Comprised of 490.8 million of new orders and 207.0 million of change orders Quarter-over-quarter, new order intake was up 63% Backlog of…
  4. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 4
    Key Project Awards - YTD 1 Field or Work Work Project 2015 2016 2017 1 2 3 Client Project Region Type Scope Size Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Chevron USA Jack & St. Malo AEA BF T&I Sizeable QGEP Santos Basin AEA GF EPCI…
  5. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 5
    Revenue Pipeline Project Size - Q115 Estimated total contract value As of March 31, 2015, contract value in millions Bids Target Description Range ( in millions) Backlog 1 Outstanding 2,3 Projects 2,4…
  6. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 6
    Bids Outstanding and Target Projects 1 in billions 25.6 billion as of March 31, 2015 Business Line Oil/Gas Greenfield/Brownfield 18.8 13.5 14.1 12.1 11.5 6.8 Offshore Subsea Oil Gas Green Brown Segment Customer Contract…
  7. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 7
    EBITDA and Collateral Covenant Compliance Compliance calculations as of March 31, 2015 LC Facility LC Facility Term Loan Covenant EBITDA1,2,3 Collateral Coverage Ratio1 Collateral Coverage Ratio1 204.3 millions 169.0 Actual…
  8. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 8
    Additional Disclosures1 US GAAP Reconciliation to Covenant EBITDA Quarter ended Quarter ended Quarter ended Quarter ended March 31, 2015 December 31, 2014 September 30, 2014 June 30, 2014 (In millions) Net Income (loss) (14.5) 8.2…
  9. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 9
    Asset Utilization Definitions Actual is the real activity level of vessels (denoted in days) and fabrication yards (denoted in man-hours) over a given period of time Standard is the assumed activity level of vessels (denoted in…
  10. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 10
    Asset Utilization Summary Q1'15 Q4'14 Q1'14 Fabrication (Mhrs 000s) Actual 2,985 3,209 3,251 Standard 4,387 4,200 4,200 % of Standard 68% 76% 77% Offshore Vessels (Days) Actual 208 344 337 Standard 310 370 370 % of Standard 67%…
  11. Q1 2015 SUPPLEMENTAL INFORMATION – Mcdermott International – slide 11
    8K - Recast Segment Information Background Disclosure Year Ended December 31, Year Ended December 31, The North Sea and Africa operations were Million of U.S. dollars 2014 2013 Change 10K as filed 8K recasted 10K as filed 8K recasted…

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