Earnings Presentation Third Quarter November 18, 2013 12:00 noon UK time
Forward-looking statements Certain statements made in this announcement may include forward-looking statements. These statements may be identified by the use of words like anticipate, believe, estimate, expect, intend, may, plan,…
Solid Q3 2013 results HIGHLIGHTS FINANCIAL OPERATIONAL ORDER IN-TAKE Strong project 23% Adjusted Global vessel Record 11.8bn execution drove EBITDA margin utilisation of 86% backlog performance in NSC revenue Seven Borealis Awards…
Market overview Continuing postponement of some project awards around the world for various reasons Growth opportunities in all major markets, albeit at differing paces We remain positive about medium and long-term market…
Income statement key highlights In millions, unless otherwise indicated Three months ended Nine months ended 30 Sept 13 30 Sept 12 30 Sept 13 30 Sept 12 Revenue 1,564 1,744 4,711 4,686 Net operating income 269 228 464 628 Gain…
Territory performance Q3 2013 NSC 670m 111m APME Revenue NOI Brazil 73m 30m AFGOM Revenue NOI 583m 233m 10m Revenue NOI 94m Revenue NOI Note: excludes contribution from Corporate segment Page 7
Income statement supplementary details In millions, unless otherwise indicated Three months ended Nine months ended 30 Sept 13 30 Sept 12 30 Sept 13 30 Sept 12 Administrative expenses (74) (98) (215) (267) Share of net income of…
Overview of nine months 2013 cash flow millions Cash and cash equivalents at 31 Dec 2012 1,288 Net cash generated from operating Includes decrease in net operating 677 activities assets of 284m Includes capital expenditure of 539m…
2013 financial guidance We are on track to deliver full year Adjusted EBITDA in line with consensus expectations Other net income related guidance administrative expenses: 310-320 million (previously 330-350 million) share of net…
Initial thoughts on 2014 Tendering level remains good in the North Sea but has moderated elsewhere, and delays in project awards remain a feature of the industry NSC Seven Oceans and Skandi Acergy expected to be deployed outside North…
New-build vessels Pipelay Support Vessels - Dive Support Vessel - Seven Heavy Construction Vessel Seven Waves, PLSV 2, 3 and 4 Kestrel Delivery 2014-16 Delivery 2015 Delivery 2016 550t top tension 18-man twin bell 600t heave…
Summary Results in NSC, AFGOM and APME driven by strong project execution Guar-Lula NE full-life project loss previously announced remains appropriate On track to deliver full year Adjusted EBITDA in line with consensus expectations…
Appendix Page 14
Major project progression Continuing projects 100m between 5% and 95% complete as at 30 Sept 2013 excl. long-term ship charters and Life-of-Field day-rate contracts. Gumusut* (Malaysia) Terra Nova (Canada) Laggan Tormore (North Sea)…
Segmental analysis For the three months ended 30 Sept 2013 In millions, Unaudited AFGOM APME BRAZIL NSC CORP TOTAL Revenue 582.6 73.2 232.5 669.8 5.7 1,563.8 Net operating income/(loss) from ops 93.5 30.2 10.4 111.1 24.0 269.2 Finance…
Adjusted EBITDA Adjusted earnings before interest, taxation, depreciation and amortisation (Adjusted EBITDA) is a non-IFRS measure that represents net income before additional specific items that are considered to impact the comparison…
Reconciliation of Adjusted EBITDA Net operating income to Adjusted EBITDA Three Months Ended Three Months Ended For the period (in millions) 30 Sept 2013 Unaudited 30 Sept 2012 Unaudited Net operating income 269.2 228.2 Depreciation,…
Where we operate Page 19
A full range of subsea services Page 20
Aasta Hansteen Gas Field - Norway Technology-rich SURF project 1200m water depth, deepest in North Sea 300 km off northern Norway, harsh environment 1st SCRs (x4) in the Norwegian Sea, manufactured at Vigra spoolbase 1st…
Gorgon Heavy lift and Umbilicals - Australia Located 130km off the northwest coast of Western Australia The Gorgon project is one of the world's largest natural gas projects Heaviest and deepest subsea lifts in Subsea 7s history…
CLOV Block 17 - Angola Technology-rich SURF project High local content with Sonamet fabrication facility Successful deployment of Seven Borealis to install 40km of pipe-in-pipe production, 60km of water injection, 32km of gas…
Technology focus Technology Category Specific Technology Types Steel Deep water and harsh Hybrid Riser Submerged Composite Catenary environment solutions Towers buoys Materials Risers Rigid Pipe Flexible Pipe Subsea Vessels…
Technology focus - towed bundles Brief Application Partners Description Towed integrated Mainly North Numerous assembly of Sea subsea technology flowlines and production companies service systems tie partnering us lines/control…
Technology focus - Hybrid riser tower (HRT) Total CLOV Prospect (1200msw) (2000msw) Brief Application Partners 1440T Description Tower The HRT is Numerous key assembly of applicable to technology multiple most future companies…
Technology focus - Buoy supported riser (BSR) Brief Application Partners Description A submerged The BSR is Numerous buoy anchored being installed technology to the seabed on Guar-Lula companies NE project in partnering us…
Technology focus - High-performance pipe-in-pipe Brief Application Partners Description A pipe-in-pipe Subsea ITP - exclusive system pipelines agreement providing high which require thermal high thermal insulation for…
Technology focus - Reel-lay of mechanically lined pipe (BuBi) BuBi Pipe Brief Application Partners Description Use of BuBi Worlds first BUTTING - Mechanically award on a exclusive Lined Pipe Petrobras Pre- agreement offers Salt…
Technology focus - Autonomous inspection vehicle (AIV) Brief Application Partners Description A game changing Can be Seebyte inspection deployed from technology system FPSO comprising an (avoiding the autonomous need for a…
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