Contents Highlights and material events Segment reporting Financial information Summary Page 2
Group Financial performance Q1 2015 highlights: Operating revenue of USD 240 million EBITDA of USD 71 million EBITDA-margin of 29 % EBIT of USD 34 million Profit of USD 18 million Page 3
Highlights and material events in Q1 2015 Dividend and share buy-back program suspended - In February 2015, the Board decided to suspend the annual dividend for the financial year 2014 due to the significant weakening of market…
Highlights and material events in Q1 2015 (cont.) MODU Deepsea Aberdeen commenced on its 7-year drilling contract with BP on 21 April 2015 on the Quad 204 field development project West of Shetland, UK. Deepsea Metro I has secured…
Segment reporting - Mobile Offshore Drilling Units (MODU) MODU MODU Firm MODU contract backlog at 31 March 2015 of USD 1.6 billion Financial utilisation: Financial Utilisation1 Q1 15 Q1 14 FY 14 FY 13 Deepsea Stavanger 99.0% 95.1%…
MODU - Dayrates, contract status and options Location Current day rate Drilling unit Contract status /operator (USD/day)1 Deepsea Angola 545,000 Stavanger BP Angola Deepsea Norway 566,371 Atlantic Statoil Deepsea UK…
Segment reporting - Platform Drilling and Technology Platform Drilling and Technology Drilling & Technology Firm contract backlog of USD 0.5 billion at 31 March 2015 Value of priced optional periods of USD 1.4 billion Platform…
Segment reporting - Well Services BASES : EUROPE Norway United Kingdom Key figures Holland 525 employees Romania Services from 11 bases Operations in more than 20 countries BASES : ASIA Service offering Thailand…
Market outlook Exposed to re-contracting risk in a weak drilling market over the next couple of years MODU The drilling market has continued weakening into 2015 and we expect a weak drilling market over the next couple of years. The…
Market outlook (cont.) Well Services Well Services has experienced a further reduction in its activities on the Norwegian Continental Shelf (NCS) so far in 2015. This has partly been neutralised by continued growth outside the NCS.…
Earnings visibility through USD 3.6 billion order backlog Total revenue backlog per year (for firm contracts and priced option periods)1 USD million Firm contracts USD 2.1 billion Priced options USD 1.5 billion Total backlog USD…
Financial information
Financial performance highlights Odfjell Drilling reports for Q1 2015: Operating revenue of USD 240 million EBITDA of USD 71 million EBITDA-margin of 29 % Net profit in the period of USD 18 million Group Operating Revenues…
Group summary financials Condensed consolidated income statement P&L - (USD million) Q1 15 Q1 14 FY 14 FY 13 Operating revenue 240 274 1 088 1 174 Other gains/losses 0 2 11 22 Share of profit/(loss) from joint ventures -15 -2 -82 0…
Deep Sea Metro financials Deep Sea Metro Ltd Group - Key financials (100% basis) Condensed figures - (USD million) Q1 15 Q1 14 FY 14 FY 13 Interest bearing debt: Total income 37 80 345 359 At 31 March 2015 the total interest Operating…
Summary statement of financial position Group statement of financial position Assets (USDm) 31 Mar 2015 31 Mar 2014 31 Dec 2014 Equity and liabilities (USDm) 31 Mar 2015 31 Mar 2014 31 Dec 2014 Intangible assets 36 35 37 Total paid-in…
Summary statement of cash flow Group statement of cash flow Cash Flow - (USDm) Q1 15 Q1 14 FY 14 FY 13 Profit before income tax 23 27 79 171 Cash from operations 69 88 358 339 Interest paid -12 -13 -51 -56 Income tax paid -12 -19 -68 -37…
Summary Q1 2015 Earnings visibility through USD 3.6 billion order backlog MODU exposed to current and near term re-contracting risk for several of its units Deepsea Aberdeen commenced its long-term drilling contract in April…
President & CEO Simen Lieungh EVP & CFO Atle Sb Investor relations Lasse H. Johannesen, lajodfjelldrilling.com, +47 55 92 11 01 / +47 995 06 908 Press contact Gisle Johanson, gijoodfjelldrilling.com, +47 414 40 050 Next event: Q2 2015…
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