Presentation for the Annual Shareholders Meeting May 14, 2015
2014 Highlights/ Strategic Actions Completed spin-off from Oil States International on May 30, 2014 o Celebrated initial day of trading on New York Stock Exchange on June 2, 2014 o Completed transition off of Oil States systems and…
2014 Operational Achievements Successfully opened new 1,997 room McClelland Lake Lodge in Canadian oil sands region supported by three-year contract Introduced service innovations at McClelland Lake location o EDI Made to order food…
Migration of Civeo to Canada On September 29, 2014, Civeo announced that the best option for the Company was to migrate to Canada Rationale for redomiciling to Canada: o Allow us to more efficiently move earnings and cash flow from…
Migration of Civeo to Canada (continued) Amended existing credit agreement (subject to completing migration transaction): o The required consents of the lenders to amend its Credit Facility, subject to customary conditions, to allow…
Annual Results (U.S. dollars in millions, except percentages and per share amounts) FY Ending December 31, % Variance 2012 2013 2014 12/13 13/14 Revenues 1,108.9 1,041.1 942.9 -6% -9% EBITDA 494.2 429.0 38.2 -13% -91% EBITDA…
Segment Results (U.S. dollars in millions) FY Ending December 31, % Variance 2012 2013 2014 12/13 13/14 Revenues Canada 717.2 710.5 661.4 -1% -7% Australia 276.2 255.5 213.3 -8% -17% US 115.5 75.1 68.2 -35% -9% Total 1,108.9…
Focused on Safety Performance Improvements achieved across the business with performance significantly better than industry averages o Canadian operations TRIR: 3.47 Year-over-year improvement: 45% Manufacturing incident rates: 75%…
Near-term Focus and Positioning for Growth Near term focus is on execution and free cash flow generation o Drive revenues: Maximize occupancy in lodges and villages, pursue incremental work for mobile assets and leverage existing…
2015 YTD and Outlook
Macro-Economic Environment Major developing economies continue to grow albeit slowly; uncertainty around impact of reduction of monetary stimulus from U.S. Federal Reserve; concerns about economic growth in key developing countries,…
First Quarter 2015 Results (U.S. dollars in millions, except percentages and per share amounts) Quarter Ended % March 31, Variance 2014 2015 14/15 Revenues 252.8 171.0 -32% EBITDA 92.3 48.1 -48% EBITDA Margin 36.5% 28.1%…
Segment Results (U.S. dollars in millions) Quarter Ended March % 31, Variance 2014 2015 14/15 Revenues Canada 180.3 116.9 -35% Australia 55.5 41.9 -25% US 17.0 12.2 -28% Total 252.8 171.0 -32% Adjusted EBITDA Canada 61.8 37.5…
Financial Position (U.S. dollars in millions, except for percentages and ratios) Actuals As of Pro Forma (1) 12/31/13 12/31/14 3/31/15 3/31/15 Cash 224.1 263.3 279.8 29.8 Working capital 342.7 345.5 349.8 110.1 Current debt (2) -…
Appendix
Non-GAAP Reconciliation (U.S. dollars in millions) Three Months Ended FY Ending December 31, March 31, 2012 2013 2014 2014 2015 EBITDA Net Income (loss) 244.7 181.9 (189.0) 36.2 (0.0) Income tax provision 84.3 56.1 31.4 12.3 1.2…
Presentation for the Annual Shareholders Meeting May 14, 2015 18
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