Earnings Presentation Fourth Quarter & Full Year 2011 March 16, 2012 12:00 2 00 noon UK time i
20 2011: a year off many successes Delivered strong results in line with expectations Prepared for the future well positioned for profitable growth Combination successfully completed: - Integration ahead of plan - On track to…
Fleet l enhancement h programme: S Significant f progress SURF Conventional Life-of-Field Divest / Release JVs *Oleg Strashnov delivered to the SHL JV 16-Mar-12 Page 4
Brazil: l GGuara Lula l NE Project Q4 2011 recognised loss of c.50 million; which represents total loss over the lifetime of project, including additional contingencies Acceptance of design and engineering testing progressing to…
Income statement highlights h hl h Three Thirteen Months Months Ended Ended In millions, except Adjusted EBITDA margin, share and per share data Dec.31.11 Dec.31.11 Unaudited Audited Revenue from continuing operations 1,417…
O Operational l performance f Q4 Q 20 2011 586m 308m 308 m 97m (8m) Revenue (8m) NOI Revenue NOI Revenue NOI 605m 38m (7m) 308 m 186m Revenue NOI 112m (11m) (8m) Revenue NOI Revenue NOI Revenue NOI…
Income statement highlights h hl h contd d Three Thirteen Months Months Ended Ended In millions Dec.31.11 Dec.31.11 Unaudited Audited Administrative expenses (103) (404) Share of net income of associates and joint ventures 1…
C h flow Cash fl and dbbalance l sheet h overview FY 2011 20 Cash generation from operating activities of 579 million Net cashflows used in investing activities of 125 million reflects: Capex of 672 million in line with…
Financiall assumptions - 2012 20 2 Expect to deliver revenue and Adjusted EBITDA for twelve months of 2012 ahead of thirteen month period ended December 31, 2011 Joint Venture contribution 2012 lower than 2011 Administrative…
Market k overview Continue to see growth opportunities in all major markets, albeit at differing paces: North Sea: high levels of tendering driving strong order flow; higher activity with improved pricing for projects expected to be…
Summary 2011: a year of many successes Delivered strong results in line with expectations and good order flow resulting in backlog of 8.5 billion Robust oil price and strong tendering activity underpins good order book momentum…
Appendix 11-May-11 2-Nov-11 Page 13
Major project progression Continuing projects 100m between 5% and 95% complete as at December 31, 2011 excl. long-term ship charters and Life-of-Field day-rate contracts. Block 18 GEL (Angola) Oso Re (Nigeria) EGP3B (Nigeria)…
Backlog kl In millions as at: Dec.31.11 Sep.30.11 p Dec.31.10 Nov.30.10 (1) Subsea 7 S.A. 8,538 7,903 - - Acergy S.A. - - - 3,552 Subsea 7 Inc. - - 2,800 , - (1) Backlog refers to expected future revenue under signed…
S Segmental l analysis: l Three months Th th ended d d T t l Total Dec.31.11 NSMC AFGoM APME Brazil CORP Continuing Unaudited operations In millions Revenue 586.1 605.1 38.0 186.2 2.0 1,417.4 Net operating 97.4 112.0 (7.0)…
S Segmental l analysis: l Thirteen Thi teen months ended Total Dec.31.11 NSMC AFGoM APME Brazil CORP Continuing Unaudited operations In millions Revenue 2,054.4 2,542.9 180.7 686.3 12.2 5,476.5 Net operating 179.0 490.3 18.2…
Adjusted d d EBITDA The Group calculates adjusted earnings before interest, income taxation, depreciation and amortisation (Adjusted EBITDA) from continuing operations as net income from continuing operations plus finance costs,…
Reconciliation l off net operating income to Adjusted d d EBITDA Three Months Ended Three Months Ended Dec.31.11 Nov.30.10 Total Total In millions (except percentages) Continuing Discontinued Continuing Discontinued operations…
Reconciliation l off net income to Adjusted d d EBITDA Three Months Ended Three Months Ended Dec.31.11 Nov.30.10 Total Total In millions (except percentages) Continuing Discontinued Continuing Discontinued operations operations…
seabed-to-surface b 7 www.subsea7.com 10.01.11 Page 21
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