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Q2 2012 EARNINGS CALL – Spectrum Asa

Spectrum Asa · Aug 17, 2012 · 21 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. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 1
    Presentation of Unaudited 2nd Quarter 2012 Results August 2012
  2. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 2
    Q2 Highlights Sales revenue amounted to MUSD 24.6 15% Revenue share resulting in net revenue of MUSD 20.9 Amortization rate of 37% of net revenue EBIT of MUSD 8.1 giving a 33% margin MC Investment of MUSD 23.9 for the quarter…
  3. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 3
    Multi Client Revenue - Gross 40 3,3 35 30 11,1 0,1 25 MUSD 20 35,5 15 10,8 26,4 10 24,6 0,5 5 1,3 7,8 2,0 13,1 0 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Late Sale Early Sale
  4. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 4
    Q2 Highlights Multi Client investment of MUSD 50+ is already committed in 2012 with current prefunding of 54% by end June East Northern Margin of Brazil is proving promising as new petroleum province Spectrum prepares for the 11…
  5. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 5
    Q2 Highlights New projects planned in North West Europe, Mediterranean, South America, Africa and Indonesia Project pipeline of new MC2D and MC3D projects firming up for H2-2012 Multi Client Capex guiding increased to USD70-80m…
  6. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 6
    MC3D in Lebanon Spectrum announces its first MC3D project 1500 3000 square kilometres in Lebanon under an exclusive agreement with Lebanon Ministry of Energy and Water Spectrum operates the project in cooperation with Dolphin…
  7. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 7
    Q2 2012 Income Statement (From continuing operations) Spectrum Group Quarter Quarter 6 Months 6 Months 12 Months ended ended ended ended ended (USD 1000) 30.06.12 30.06.11 30.06.12 30.06.11 31.12.11 Total operating revenue 24,588…
  8. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 8
    Segment Results Spectrum Group Quarter Quarter 6 Months 6 Months 12 Months ended ended ended ended ended (USD 1000) 30.06.12 30.06.11 30.06.12 30.06.11 31.12.11 Multi-Client 23,847 8,282 59,565 11,620 76,881 Seismic Data…
  9. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 9
    Multi Client NBV & Investments MUSD 78,6 80 60,1 62,0 70 56,6 60 50 25,6 42,5 40 20,5 30 20 23,9 16,9 10 1,4 5,9 4,4 0 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Investment Closing Quarterly NBV
  10. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 10
    Investment per Vintage Net Book Value (NBV) as % of original investment per financial year vs allowed Maximum NBV at end of each financial year
  11. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 11
    Balance Sheet Key Figures (000s) SPECTRUM GROUP Assets 30.06.12 30.03.2012 31.12.11 (USD 1000) (Unaudited) (Unaudited) (Audited) MC Library 78,603 62,020 56,574 Other Intangible Assets 13,615 13,844 14,147 Tangible Assets 4,274…
  12. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 12
    Q2 2012 Cash Flow Statement SPECTRUM GROUP Quarter Quarter 6 Months 6 Months 12 Months Cashflow ended ended ended ended ended (USD 1000) 30.06.12 30.06.11 30.06.12 30.06.11 31.12.11 Cash flows from operating activities: Profit /…
  13. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 13
    Operational review Q2 2012 Following closing of an exclusive agreement to perform MC3D in certain area offshore Lebanon, Spectrum signs MOU to secure 3D vessel capacity from Dolphin Spectrum 2D East Mediterranean data sold to over…
  14. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 14
    Operational review Q2 2012 Six surveys about to be completed and available for the market Increased focus on core market in Mediterranean with new MC3D project in Lebanon and new MC2D in West Mediterranean
  15. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 15
    High operational ongoing activity More than 50,000 km of newly acquired MC2D available to the market in H2 2012 Spectrum will follow up with sales roadshows and seminars in Q3-Q4 Seismic Data delivered on time with high quality and…
  16. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 16
    Areas of High Interest
  17. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 17
    Focus area Namibia 13,500 km acquired over the Orange & Luderitz Basins Partially prefunded Finalizing Data Processing Started phase I reprocessing of 25,000 km existing MC2D data Great potential for survey extensions and…
  18. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 18
    Focus area Northern Equatorial Margin Phase I Northern Margins completed Fully prefunded, 100% ownership 13,200 km, discovery in Ceara basin Phase II Amazonas survey ongoing Partially prefunded, 100% ownership 15,000 km, 85%…
  19. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 19
    Other Projects Brazil Santos Campos completed 13,650 km acquired Processing ongoing Partially prefunded, in partnership with Dolphin Recent discovery in Block 33 Various data processing projects 10 active Multi-Client data…
  20. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 20
    Outlook for 2012 Strong sales pipeline for H2-2012 Multi Client capital expenditure of MUSD 70-80 expected for 2012 Expected average prefunding 60% on new projects
  21. Q2 2012 EARNINGS CALL – Spectrum Asa – slide 21
    Conclusions nd Strong EBIT and operational cash flow in 2 quarter Step change in to Multi Client 3D Large volume of new MC data available in the market

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