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AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa

Solstad Offshore Asa · Aug 19, 2014 · 22 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. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 1
    SOLSTAD OFFSHORE ASA Company Presentation 19 August 2014
  2. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 2
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 2
  3. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 3
    SOLSTAD OFFSHORE IN BRIEF Key facts Fleet overview Founded in 1964. In the offshore segment since 1973 Weighted New Segments Current Fleet Average Operations worldwide North Sea, Brazil, US Gulf, buildings Age 1) West Africa, Asia…
  4. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 4
    SOLSTAD OFFSHORE - HIGHLIGHTS 30.06.2014 2Q 2014 Financial & Operational Highlights Net revenues NOK 845 mill. Adjusted EBITDA NOK 385 mill / Adjusted EBITDA margin 43% Margin influenced by slower than expected spot market in the AHTS…
  5. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 5
    THE SOLSTAD OFFSHORE FLEET 47 VESSELS IN OPERATION AS PER 18. AUGUST 2014 Vessels: 23 Newbuild: 1 Skudeneshavn Aberdeen Vessels: 3 Vessels: 5 Manila Kuala Lumpur Singapore Vessels: 1 Vessels: 5 Rio de Janeiro…
  6. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 6
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 6
  7. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 7
    OPERATING REVENUE AND EBITDA (EX. GAIN / LOSS ON SALE OF ASSET / INCL. SHARE IN JV) 1200 60% 1000 50% 800 40% EBITDA % NOK mill 600 30% 400 20% 200 10% 0 0% 1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11…
  8. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 8
    PROFIT & LOSS ACCOUNTS 30. June 2014 2Q 2Q 1H 1H Total (Mill NOK) 2014 2013 2014 2013 2013 Total Operating Income (1) 845 909 1 696 1 707 3 546 Operating expenses (497) (526) (1 000) (1 018) (2 049) Ord. Depreciation (109) (109)…
  9. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 9
    BALANCE 30. June 2014 2014 2013 2013 (Mill NOK) 30.06 30.06 31.12 Long Term fixed assets 13 137 13 282 12 740 Current assets 2 691 1 904 2 285 Total assets 15 828 15 187 15 025 Equity 5 078 4 700 4 954 Long Term liabilites 8…
  10. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 10
    SOLSTAD OFFSHORE ASA - VALUES & DIVIDEND
  11. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 11
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 11
  12. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 12
    THE SOLSTAD FLEET MARKET SEGMENTS Segments based on Vessel Valution 30.06.14 (1) 60% 50% 40% Freight Income YTD EBITDA YTD 30% 30.06.2014 30.06.2014 AHTS PSV CSV AHTS PSV CSV 20% 10% 54 % 33 % 30 % 61 % 9% 0% 13 %…
  13. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 13
    CSV SEGMENT General comments High world wide subsea activity Subsea market driven by solid fundamentals The large subsea players have substantial backlog High tendering activity but some projects are also being postponed Solstad…
  14. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 14
    AHTS SEGMENT General comments Slower than expected marked conditions in the North Sea spot market through 2Q 14 Positive medium to long term outlook as market balance continues to improve Increased international bidding activity…
  15. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 15
    PSV SEGMENT General comments Slower spot-market in the North Sea than expected. Activity level is high Active tendering activity for medium and long-term work Several new companies and the total number of vessels, put pressure on…
  16. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 16
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 16
  17. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 17
    FUTURE OUTLOOK Demand for CSVs is expected to continue to be strong as a consequence of high subsea activity Focus on longer term contracts for our CSV fleet to achieve predictable EBITDA The combination of long term contracts…
  18. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 18
  19. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 19
    COMPANY STRUCTURE* Solstad Offshore ASA 100% 100% 100% 100% 100% 100% SOLSTAD SOLSTAD SOLSTAD REDERI SOLSTAD SHIPPING SOLSTAD NORMAND DRIFT AS OFFSHORE UK LTD OFFSHORE ASIA AS AS MANAGEMENT AS (GROUP) PACIFIC LTD 2 CSV 9…
  20. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 20
    CSV SEGMENT 2014 2015 2016 2017 Vessel name Built HP DWT Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 CSV Nomand Oceanic 2011 26 000 11 300 Normand Pacific 2010 20 560 4 500 Nomand Baltic 2010 12 000 4 100 Normand Subsea 2009 21 000 6…
  21. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 21
    AHTS SEGMENT 2014 2015 2016 2017 Vessel name Built HP DWT Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Large AHTS Normand Ranger 2010 28,000 4,250 Normand Prosper 2010 32,000 5,000 Normand Ferking 2007 20,000 5,000 Normand Titan 2007…
  22. AUGUST 2014 COMPANY PRESENTATION – Solstad Offshore Asa – slide 22
    PSV SEGMENT 2014 2015 2016 2017 Vessel name Built HP DWT Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 PSV Normand Arctic 2011 10 640 4 900 Normand Vibran 2008 5 310 3 240 Normand C orona 2006 8 931 4 100 Normand Trym 2006 5 310 3…

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