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Q4 2011 RESULTS – Spectrum Asa

Spectrum Asa · Feb 17, 2012 · 18 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. Q4 2011 RESULTS – Spectrum Asa – slide 1
    Presentation of Unaudited 4th Quarter 2011 Results February 2012
  2. Q4 2011 RESULTS – Spectrum Asa – slide 2
    High operational ongoing activity Brazil campaign progressing with new Multi Client surveys for the upcoming license rounds in 2012-2013 West Africa campaign progressing with one vessel sceduled for 6-9 months Year end backlog of…
  3. Q4 2011 RESULTS – Spectrum Asa – slide 3
    Revenue and earnings growth in Q4 Revenue of USD 40.1m in fourth quarter 2011 representing an increase of 266% versus fourth quarter 2010 Increasing cash generation in second half of 2011 Reflected in trade receivables per end…
  4. Q4 2011 RESULTS – Spectrum Asa – slide 4
    Dividend 2011 The board of directors is proposing a dividend of NOK 0.5 per share for 2011
  5. Q4 2011 RESULTS – Spectrum Asa – slide 5
    Record revenue full year Record revenue of USD 81.2m in 2011 Year on year increase of 200% compared with 2010 Revenue continued operation (MUSD) 100 81.2 50 32,8 27,0 0 2009 2010 2011
  6. Q4 2011 RESULTS – Spectrum Asa – slide 6
    Q4 2011 Income Statement unaudited (From continuing operations) (000s) Q4 11 Q4 10 FY 2011 FY 2010 Revenue 40,122 10,975 81,245 26,976 Revenue share (16,230) (4,735) (30,287) (7,105) Operating expenses (5,225) (2,816) (17,043)…
  7. Q4 2011 RESULTS – Spectrum Asa – slide 7
    Segment Results (000s) Q4 11 Q4 10 FY 2011 FY 2010 Multi-Client 38,779 9,774 76,881 22,792 Seismic Data Processing 1,343 1,201 4,364 4,184 Revenue 40,122 10,975 81,245 26,976 Multi-Client 19,005 2,816 34,566 9,975 Seismic…
  8. Q4 2011 RESULTS – Spectrum Asa – slide 8
    Multi Client NBV & Investments (000s) 70 000 60 085 60 000 50 000 42 473 40 000 30 000 25 643 22 718 20 530 20 470 20 000 18 733 19 328 19 791 12 803 11 722 12 786 11 173 12 317 10 000 8 731 8 138 5 670 5…
  9. Q4 2011 RESULTS – Spectrum Asa – slide 9
    Investment per Vintage Net Book Value (NBV) as a % of original investment per financial year vs allowed maximum NBV at end of each financial year 60 56 Millions 50 83% 40 67% 30 20 16 15 10 10 92% 100% 53% 53%…
  10. Q4 2011 RESULTS – Spectrum Asa – slide 10
    Balance Sheet Key Figures (000s) Assets Q4 11 Q3 11 Q4 10* MC Library 56 574 60 085 19 791 Other Intangible Assets 14 147 13 617 11 940 Tangible Assets 1 832 33 3 172 Financial Assets 1 668 1 664 1 559 Receivables and Inventory 41 865…
  11. Q4 2011 RESULTS – Spectrum Asa – slide 11
    Q4 2011 Cash Flow Statement (000s) Q4 11 Q4 10 FY 2011 FY 2010 Profit / (Loss) before tax 8,916 1,721 14,246 2,971 Depreciation and amortisation 8,290 2,251 19,213 8,599 Financial itemes, net 1,652 (11) 456 (131) Share options…
  12. Q4 2011 RESULTS – Spectrum Asa – slide 12
    Operational review Q4 2011 Mobilizing for new acquisition in Brazil with prefunding secured Successfully taking ownership and increasing sales from expanded library Strengthening the organization to support the Multi-Client…
  13. Q4 2011 RESULTS – Spectrum Asa – slide 13
    Areas of high interest Key Current/Upcoming Licensing Rounds: Syria - 2nd licence round open Uruguay - round II open Cyprus - 2nd bid round early 2012 Brazil - 11th round expected in 2012 Lebanon - 1st licence round H1 2012…
  14. Q4 2011 RESULTS – Spectrum Asa – slide 14
    Library sales Highest late sales to date in the companys history Ongoing license rounds and block awards within library: Iceland, Gabon, Uruguay, Syria, Indonesia and Trinidad Continued strong pipeline of sales and leads
  15. Q4 2011 RESULTS – Spectrum Asa – slide 15
    New acquisitions / Investments Brazil campaign started in November with a number of programmes lined up Northern Equatorial Margin Project with 80% prefunding Phase 1 of 12,000 km MC2D in the Barreirinhas and Ceara basin Operated…
  16. Q4 2011 RESULTS – Spectrum Asa – slide 16
    Ongoing Projects Namibia Phase I Orange basin project of 7,000 km Operated by Spectrum, 50% partnership with CGGVeritas Over 50% prefunded, about 60% complete Trigger for further projects along the SW Africa Margin Brazil Phase I…
  17. Q4 2011 RESULTS – Spectrum Asa – slide 17
    Outlook for 2012 Continuing new acquisition projects in Brazil, West Africa and Indonesia Around USD 50 million capital expenditure in Multi Client expected for 2012 Expected prefunding 60% on new projects
  18. Q4 2011 RESULTS – Spectrum Asa – slide 18
    Conclusions th Strong 4 quarter Continued focus on balance sheet and cash flow Portfolio of new acquisition projects in the pipeline

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