Deutsche Bank Leveraged Finance Conference September 30, 20140
Non-GAAP Financial Measures Reconciliation This presentation includes EBITDA and Adjusted EBITDA as supplemental measures of the Companys operating performance. EBITDA is defined as Earnings before Interest (includes interest income,…
Company Overview Founded in Alaska in 1948, Era is the longest-serving LTM Revenue by End Market helicopter transport company in the U.S. Air Medical FBO Flightseeing Services 3% 2% 4% Announced CEO change on August 28, 2014, with…
Areas of Operation 24 Canada 1 Norway 2 Alaska 3 Sweden UK 102 17 Continental United States Spain 3 1 12 India 1 Mexico Colombia Brazil Australia Australia Aircraft in Region ( of aircraft) Training Center Joint…
Fleet Snapshot Fleet by Type Fleet by Ownership Heavy, 9, Managed, 7, 5% Leased, 4, 4% 2% Joint EC225 Ventured, 8, 5% Light Single, 59, 36% A119 AW139 AS350 Bell 212 Medium, 61, Bell 412 37% S76A/A++ S76C+/C++ A109…
Helicopter Order and Options Book Remaining Amount Delivery Class Type Number Firm Cancellable Current Order Book 2014 Heavy AW189 3 35.8 2015 Heavy AW189 2 14.1 16.6 2015 Heavy S92 1 17.2 2016 Heavy AW189 3 51.0 2016 Heavy…
Brazil Update An Inflection Point Era initially invested in Aeroleo in July 2011 (50% Current Aeroleo Fleet economic interest) Shortly after mobilizing 4 AW139s to Brazil in 2011, Petrobras cancelled the contract award due to an…
Investment Highlights Stable and Growing Strong Customer End Markets Relationships Sound Industry Residual Value Structure Retention Substantial Attractive Growth Asset Coverage Profile 8
Stable and Growing End Markets Global Deepwater Platform With Helipad Count 75% of Eras 219 225 operating fleet is 209 200 201 servicing 200 189 production, 176 182 171 pipelines, and 175 159 government 145 150 services,…
Residual Value Retention Given helicopters retain significant value Helicopter Value Retention over their useful lives, Era has (Indexed Resale Value) 100 consistently sold helicopters at a premium to book value 80 Since 2004,…
Historical Financial Performance Fiscal Year ending December 31 Hurricane Macondo Incident Hurricane EC225 Suspension Ike (6 month deepwater Issac (25% of Era fleet 350 drilling moratorium) value on ground for 45% 9 months) 299…
Capitalization and Financial Policy June 30, 2014 (000s) Era continues to generate substantial free cash flow before growth capex Cash and cash equivalents 14,940 Flexibility to deploy capital for attractive Credit facility 55,000…
NAV per Share Calculation (as of 6/30/2014) (in million, except share data) + FMV of Helicopters 950 + NBV of Other PP&E 134 + Working Capital 63 + Other Net Tangible Assets 49 Longterm Debt (281) Deferred Taxes (214) Net Asset…
Appendix 14
Fleet Overview Joint Average Owned Ventured Leased-In Managed Total Age(a) Heavy: EC225 9 9 4 Total Heavy 9 9 Medium: AW139 37 1 38 4 B212 9 9 36 B412 6 6 33 S76 A/A++ 2 2 24 S76 C+/C++ 5 1 6 7 Total Medium 59 1 1 61 Light…
Net Asset Value 50 45 40 35 30 25 20 15 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 May-14 Aug-14 NAV per Share (excl. deferred taxes) Stock Price NAV per Share (net of deferred taxes) Book Value per Share 16
Operating Revenues by Line of Service Three Months Ended (000s) 30-Jun-14 31-Mar-14 31-Dec-13 30-Sep-13 30-Jun-13 (a) Oil and gas: U.S. Gulf of Mexico 51,715 49,141 45,435 40,503 38,443 Alaska 9,305 6,197 6,885 14,003 9,398…
Flight Hours by Line of Service Three Months Ended 30-Jun-14 31-Mar-14 31-Dec-13 30-Sep-13 30-Jun-13 (a) Oil and gas: U.S. Gulf of Mexico 11,065 9,447 10,304 10,003 9,676 Alaska 1,122 682 895 2,860 1,405 International 57 62 60…
Reconciliation of Non-GAAP Financial Measures Historically, SEACOR charged its corporate costs and overhead charges to all of its operating divisions These charges have been excluded from Adjusted EBITDA to more accurately reflect Eras…
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