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Q3 2014 EARNINGS CALL – Spectrum Asa

Spectrum Asa · Oct 24, 2014 · 20 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. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 1
    3rd Quarter 2014 Results Unaudited October 24th 2014
  2. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 2
    Q3 2014 Highlights Q3-14 Q3-13 Change Net Revenue MUSD 52.8 MUSD 15.1 250% Early Sales MUSD 29.0 MUSD 6.1 375% Late Sales MUSD 23.2 MUSD 8.3 180% EBITDA MUSD 44.9 MUSD 7.4 507% EBIT MUSD 17.6 MUSD -0.8 One 3D survey active…
  3. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 3
    Q3 2014 Financial Highlights Q3-14 Q3-13 YTD-14 YTD-13 Operational Cash Flow MUSD 36.8 MUSD -4.7 MUSD 97.6 MUSD 64,7 MC Investment MUSD 26.9 MUSD 16.2 MUSD 82.9 MUSD 71.7 CAGR MC investment 23% 2011-2014 2,0 1,8 1,6 1,4 1,2…
  4. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 4
    Year to Date 2014 YTD Net revenues MUSD 135 (YTD 2013 MUSD 105) YTD EBITDA MUSD 108 (YTD 2013 MUSD 78) MUSD MUSD Net Revenue EBITDA
  5. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 5
    Q3 and YTD 2014 Multi-Client Revenue per Region Q3 Net revenue MUSD 52 YTD 2014 Net revenue MUSD 133 13 42 33 72 7 19
  6. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 6
    Financials
  7. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 7
    Q3 2014 Income Statement Spectrum Group Quarter Quarter 9 months 9 months ended ended Change ended ended Change (USD 1000) 30.09.14 30.09.13 in % 30.09.14 30.09.13 in % Total operating revenue 70 024 18 508 278 % 186 452 114 961 62…
  8. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 8
    Multi-Client NBV & Investments Q3 2014 MC investments MUSD 27 (Prefunding of 108%) YTD 2014 MC investments MUSD 83 (Prefunding of 97%) Sales / MC Library (rolling 12 months) 1.44 EBITDA / MC Library (rolling 12 months) 1.16…
  9. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 9
    Rolling Earnings & Net Sales / Book Value of MC library 2.0 1.8 1.6 1.4 EBITDA 4 quarter rolling / 1.2 book value of MC library rolling 1.0 EBIT 4 quarter rolling / book 0.8 value of MC library rolling 0.6 MC Net revenue 4 quarter…
  10. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 10
    Investment per Vintage Net Book Value (NBV) as % of original investment per financial year vs. allowed Maximum NBV MUSD 100 90 85.9 85.4 100% 80 70 60 57.5 51.3 62% 50 57% 54% 40 30.5 30 88% 20 39% 10 14% 17% 42%…
  11. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 11
    Balance Sheet Key Figures SPECTRUM GROUP Assets 30.09.14 30.06.14 31.12.13 (USD 1000) (Unaudited) (Unaudited) (Audited) MC Library 125,735 125,366 112,400 Other Intangible Assets 19,430 19,716 19,996 Tangible Assets 5,181 5,067 4,713…
  12. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 12
    Q3 2014 Cash Flow Statement SPECTRUM GROUP Quarter Quarter 9 months 9 months 12 months Cashflow ended ended ended ended ended (USD 1000) 30.09.14 30.09.13 30.09.14 30.09.13 31.12.13 Cash flows from operating activities: Profit / (Loss)…
  13. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 13
    Operations
  14. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 14
    Areas of High Interest Relevant Licensing activities Croatia - 1st round ongoing Lebanon - 1st round on hold Peru - round expected in 2015 Brazil - 13th round expected in 2015 Gabon - blocks awarded Namibia - open door Madagascar-…
  15. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 15
    Brazil Amazonas MC3D 3D survey outline Spectrum CGG Multi-Client 3D 11,330 sqkm BroadSeisTM acquired 6,000 sqkm over open acreage Survey completed on schedule High prefunding level Initial results 3D provides a step-change in…
  16. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 16
    Ongoing MC2D projects in Q3 Brazil, Sergipe-Alagoas basin 26,000 km MC2D data Final products available Q1 2015 Data on trend with recent Petrobras deepwater light oil discoveries Considered a prime area for inclusion in the next…
  17. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 17
    Selected reprocessing projects Peru offshore - 13,575 km Bid Round opening scheduled for Q4 2014, closing Q2 2015 Final products available Madagascar offshore - 16,900 km Nearby discoveries in Eastern Africa Access to up to…
  18. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 18
    Mediterranean Croatia 1st offshore bid round open Round closing 3rd November 2014 Block awards expected Q1 2015 1st onshore bid round opened Round closing 18th February 2015 6 Exploration blocks covering 15,000 sqkm Each cover…
  19. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 19
    Outlook
  20. Q3 2014 EARNINGS CALL – Spectrum Asa – slide 20
    Outlook Spectrum assumes overall seismic spending by oil companies in 2014 to be down compared to 2013 Spectrum is on track for growth in 2014 Spectrum see continued interest in our core areas Spectrum maintains MC investment…

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