MODEC, Inc. 2011 Half-Year Financial Results Analysts Presentation August 19, 2011
Operations Review Financial Results & Outlook 2
2011 Half-Year Overview: Financial Revenue generated steadily mainly in accordance with the progress of Petrobras Guara FPSO project Revenue booked in line with the forecast despite the appreciation of yen Additional expenses in…
2011 Half-Year Overview: Projects j New order OSX-3 FPSO (Brazil) 2 FPSOs under construction FPSO PSVM (BP Angola FPSO) FPSO Cidade de Sao Paulo MV23 (Petrobras Guara FPSO) Charter terminated FPSO MV8 Langsa Venture…
New Order : OSX-3 FPSO Client OSX 3 Leasing B.V. Scope of Work EPCI First Oil Targeted late September 2013 Field Waikiki Pero Inga Fields, Brazil Water Depth 110 m New/Conv. Conversion Mooring SOFEC External Turret Storage Capacity…
3 FPSOs are under construction COSCO Dalian China J Jurong Singapore FPSO Cidade de Sao Paulo MV23 Scope of Work: EPC + Time Charter First Oil: Planned 1Q 2013 Guara Field, Brazil Brazilian local content requirement…
FPSO/FSO Time Charter / O&M Projects j (As of August 2011) FPSO Song Doc FSO Rang Dong FSO Rong Doi Pride MV19 MV17 MV12 FSO TaKuntah (T/C) (T/C) (T/C) (T/C) FPSO Fluminense (O&M) FPSO Cidade do Rio de Janeiro MV14 (T/C)…
FPSO/FSO Time Charter / O&M Period (As of August 2011) Time Charter Contract O&M Contract Fixed period Option period Fixed period Option period 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014…
Prospective p Projects j Shtokman Internal Disconnectable Turret (SOFEC) PEMEX TaKuntah FSO Life Extension PEMEX SPM (SOFEC) Russia Gulf of Mexico Southeast West Asia Af i Africa & Pacific Brazil Ghana Tullow…
Operations Review Financial Results & Outlook 10
Profit & Loss Variance (Mil. JPY) 2010 2Q 2011 2Q 2010 2Q- 2010 Remarks 2011 2Q After MV21 & MV22 FPSOs were delivered, number of EPCI Revenue 89,199 57,370 (31,829) 146,660 projects decreased from 4 to 2 Profit declined due to…
Revenue Revenue Projects EPC(I) Phase 2007 2008 2009 2010 2011 2012 (Mil. JPY) 250,000 FPSO OSX-3 FPSO Cidade de Sao Paulo MV23 204,225 FPSO Cidade de Angra dos Reis MV22 200,000 FPSO PSVM FPSO Kwame Nkrumah MV21 144,040…
Ordinaryy Profit Ordinary Profit & Ordinary Profit before Influence of Deferred Profits Deferred Profits Adjustment Deferred Realized Balance Ordinary Profit Ordinary Profit before Deferred Profits Adjustment (Mil. JPY) (Mil. JPY)…
Orders & Order Backlogs g Received Orders 2008 FPSO Cidade de Santos MV20 (Opportunity Gas) FPSO Kwame Nkrumah MV21 (Jubilee) FPSO PSVM (BP Angola) FPSO Cidade de Angra dos Reis MV22 (Tupi) 2009 Acceptance of change orders from…
Balance Sheet (Mil. JPY) 2010 2011 2Q Variance Remarks Cash and Time Deposits 12,122 13,939 1,817 Total Assets: 1. Loans receivable decreased as a result of the collection from Total Current Assets 98,135 90,081 (8,054) SPC 2.…
Key y Financial Figures g (Mil. JPY) 2007 2008 2009 2010 2011 2Q Operating profit 6,959 1,973 4,169 3,563 (1,883) Depreciation and amortization 1,656 1,619 1,380 958 1,461 Amortization of consolidated differences 13 26 264 211 134…
Forecast for FY2011 Ordinary Profit Ordinary Profit Revenue (Mil. JPY) (Mil. JPY) Ordinary Profit before Deferred Profits Adjustment 15,000 300,000 204,225 10,079 10,000 9,027 200,000 7,672 7,828 144,040 143,669 146,660…
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