Skip to main content Q3 2010 RESULT – Dof Asa Investor Presentation | Shale Experts
Loading...
Pm

Q3 2010 RESULT – Dof Asa

Dof Asa · Nov 18, 2010 · 38 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. Q3 2010 RESULT – Dof Asa – slide 1
    DOF ASA Q3 2010 CEO Mons S. Aase CFO Hilde Drnen The New Horizon DOF ASA PRESENTATION Q4 2009
  2. Q3 2010 RESULT – Dof Asa – slide 2
    Agenda Highlights Q3 Overview Group Status DOF Subsea Status Supply Q3 Financials Outlook The New Horizon DOF ASA PRESENTATION Q3 2010 - 2
  3. Q3 2010 RESULT – Dof Asa – slide 3
    Highlights Q3 Contracts: 15 years contract with Total Argentina for Skandi Patagonia 4 AHTS newbuilds, 4 x 8 years with Petrobras 3 x RSVs, 3 x 5 years with Petrobras Skandi Admiral onhire to Petrobras end September Several…
  4. Q3 2010 RESULT – Dof Asa – slide 4
    Highlights Q3 Financial: Refinancing bonds in DOF ASA and DOF Subsea AS Share issue DOF Installer ASA Listing of Norskan postponed The New Horizon DOF ASA PRESENTATION Q3 2010 - 4
  5. Q3 2010 RESULT – Dof Asa – slide 5
    Company overview DOF ASA DOF Subsea Ship owning Norskan Holding Company Modern fleet Modern fleet 17 AHTSs 3 AHTSs 7 PSVs 13 PSVs 2 CSVs DOF Subsea 2 CSV Modern fleet & Equipment 21 CSV/ROV vessels 40 ROVs + 1 AUV…
  6. Q3 2010 RESULT – Dof Asa – slide 6
    The fleet market segments PSV AHTS ROV/OCSV/DSV/ Total fleet No. of vessels SEISMIC VESSELS DOF ASA 13 3 2 18 NORSKAN OFFSHORE 7 12 2 21 DOF SUBSEA AS 0 0 21 21 DOF INSTALLER ASA 0 3 0 3 AKER DOF DEEPWATER AS 0 5 0 5…
  7. Q3 2010 RESULT – Dof Asa – slide 7
    GLOBAL PLAYER 23 Bergen Austevoll Aberdeen St. Petersburg St. Johns 1 Cairo Houston 1 Manila Singapore Brunei 2 Jakarta Macae Angola 4 Rio de Janeiro Perth Buenos Aires 21 GEOGRAPHICAL FOCUS AREAS The…
  8. Q3 2010 RESULT – Dof Asa – slide 8
    Long Term Contracted Cash Flows DOF group has solid cash flow visibility over the next 3-5 years By Nov 2010 the total back-log (incl. options) was approx NOK 34 bn Firm contract counts for NOK 19 bn Options count for NOK 15 bn The…
  9. Q3 2010 RESULT – Dof Asa – slide 9
    DOF SUBSEA The New Horizon Photographer: Harald M. Valderhaug DOF ASA PRESENTATION Q3 2010 - 9
  10. Q3 2010 RESULT – Dof Asa – slide 10
    DOF Subsea Contract Coverage (Vessels) 2010 2011 2012 2013 2014 2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O…
  11. Q3 2010 RESULT – Dof Asa – slide 11
    DOF Subsea Contract Coverage (ROV & Others) 2010 2011 2012 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Norskan Botafogo Petrobas Norskan Skandi Fluminence Petrobras Skandi Chieftain Petrobras DO F AS A Skandi Vega Statoil (May)…
  12. Q3 2010 RESULT – Dof Asa – slide 12
    Strong Competitive Fleet Positioning DOF Subsea currently has one of the largest subsea vessel fleets in the world The large fleet provides us the flexibility to substitute vessels in case of newbuild delivery delays or breakdowns An…
  13. Q3 2010 RESULT – Dof Asa – slide 13
    Skandi Singapore - DSV Delivery Q2 2011 DP II Dive Support Vessel 2 x Triton XLX W ROV 18 man saturation diving system 140 t Crane 900 m2 Cargo deck area 100 men accommodation The New Horizon DOF ASA PRESENTATION Q3…
  14. Q3 2010 RESULT – Dof Asa – slide 14
    Skandi Skolten The new generation vessels Construction & AHTS vessel Hybrid propulsion 361 t Bollard Pull 36 000 BHP 250 t Crane 2 x W ROV 1 070 m2 Cargo deck area 90 men accommodation Design STX AH-04 Built: 2010…
  15. Q3 2010 RESULT – Dof Asa – slide 15
    Status Supply The New Horizon Photographer: Harald M. Valderhaug DOF ASA PRESENTATION Q3 2010 - 15
  16. Q3 2010 RESULT – Dof Asa – slide 16
    DOF Contract Coverage 2010 2011 2012 2013 2014 2015 J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D PSV 1 Skandi Falcon Reliance spot 2 Skandi Marstein…
  17. Q3 2010 RESULT – Dof Asa – slide 17
    Aker DOF Deepwater - Contract Coverage Aker DOF Deepwater AS - 50% DOF Vessel Name 2010 2011 2012 2013 2014 2015 J F MA M J J A S O N D J F MA M J J A S O N D J F MA M J J A S O N D J F MA M J J A S O N D J F MA M J J A S O N D J F…
  18. Q3 2010 RESULT – Dof Asa – slide 18
    Norskans Market Position in Brazil Norskan is well positioned to serve the high-end offshore support vessel market in Brazil Chasing the Day Rate Business Leading owner of a diversified Brazilian offshore support vessel fleet…
  19. Q3 2010 RESULT – Dof Asa – slide 19
    DOF / Norskan /DOF Subsea Contracts in Brazil 2010 2011 2012 2013 2014 2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Vessel J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M…
  20. Q3 2010 RESULT – Dof Asa – slide 20
    Norskan continued growth in Brazil Since 2000, Norskan has assembled a strong portfolio of Brazilian-flagged vessels, allowing for superior crew training and professional development Successful track record during its 10-year…
  21. Q3 2010 RESULT – Dof Asa – slide 21
    Financials The New Horizon DOF ASA PRESENTATION Q3 2010 - 21
  22. Q3 2010 RESULT – Dof Asa – slide 22
    Financial/Operational Highlights Q3 2010 Utilization Subsea fleet (85%) Good activity in the North Sea and Brazil Lower activity in Australia Utilization Supply fleet (91%) Two vessels in transit to new operational areas Class…
  23. Q3 2010 RESULT – Dof Asa – slide 23
    Result Q3 2010 ALL FIGURES IN NOK MILLION 2010 2009 2010 2009 2009 Q3 Q3 YTD YTD Operating income 1 237 1 120 3 888 3 166 4 327 Total operating income 1 237 1 120 3 888 3 166 4 327 operating expenses vessels 805 745 2 632 2 228 3…
  24. Q3 2010 RESULT – Dof Asa – slide 24
    P&L Supply and Subsea ALL FIGURES IN NOK MILLION DOF SUB. DOF SUB. DOF ASA Total DOF ASA Total HOLDING HOLDING Q3 2010 Q3 2010 Q3 2010 YTD 2010 YTD 2010 YTD 2010 Operating income 408 829 1 237 1 400 2 488 3 888 Other income - -…
  25. Q3 2010 RESULT – Dof Asa – slide 25
    Results - Business Segments ALL FIGURES IN NOK MILLION EBITDA EBITDA Q3 2010 Q3 2010 Q3 2009 PSV 68 68 AHTS 86 83 68 CSV 279 223 Total 433 374 86 279 EBITDA Q3 2009 68 83 223 The New Horizon DOF ASA…
  26. Q3 2010 RESULT – Dof Asa – slide 26
    Results Geographical Segments ALL FIGURES IN NOK MILLION EBITDA Q3 2010 EBITDA Q3 2010 Q3 2009 Europe/ West Africa 110 185 110 Australasia 6 25 158 Brazil 159 81 6 America/Worldwide 158 83 Total 433 374 159 EBITDA…
  27. Q3 2010 RESULT – Dof Asa – slide 27
    Currency effects on Q3 2010 results ALL FIGURES IN NOK MILLION Financial items Q3 2010 Acc Q3 2010 Q3 2009 Acc Q3 2009 Share of loss profit from associated -8 -7 4 176 Interest reveneue 21 57 15 64 Interest costs -232 -554 -148…
  28. Q3 2010 RESULT – Dof Asa – slide 28
    Balance Q3 2010 ALL FIGURES IN NOK MILLION 30-09-10 30-09-09 31-12-09 ASSETS Intangible assets 485 663 476 Fixed assets 20,164 16,354 17,263 Financial assets 255 40 89 Total non current assets 20,904 17,058 17,827 Receivables…
  29. Q3 2010 RESULT – Dof Asa – slide 29
    Key figures Q3 2010 2010 2009 2010 2009 2009 Q3 Q3 YTD YTD Profit per share ex. minority interest 1.85 6.24 -0.08 10.84 9.16 Profit per share ex. unrealized loss/gain -1.81 0.01 -1.16 -0.12 0.52 Cashflow per share 1.50 2.61 7.90…
  30. Q3 2010 RESULT – Dof Asa – slide 30
    DOF High asset values Fair market values DOF fleet have been stable through 2008 and 2009 Fair market values Brazilian built vessels have increased with approx. 25% since 2006 All vessels (built 1983-2010) are valued higher then…
  31. Q3 2010 RESULT – Dof Asa – slide 31
    Significant Asset Coverage The combined market value DOF vessels in operation per September is NOK 20bn Supply FMV NOK 9 bn NIBD NOK 4,5bn Subsea FMV NOK 11bn NIBD NOK 6,0 bn Asset-level gearing on the fleet including new-builds is…
  32. Q3 2010 RESULT – Dof Asa – slide 32
    Debt to be refinanced next 12 months ALL FIGURES IN NOK MILLION DOF BOND 500 maturity in July 2011 Fleet loan 5 vessels DOF 600 A new facility in progress, planned completion Q4 2010 Fleet loan 4 vessels DOF Subsea 900 A new…
  33. Q3 2010 RESULT – Dof Asa – slide 33
    The DOF Group New Builds New Builds DOF ASA Group 31.10.2010 NOK 000 PROJECT REMAINING Vessel Name PAID IN FINANCING ** EQUITY LTV PRICE CAPEX Sum New Builds DOF ASA Group 11.135.466 1.955.123 9.180.343 8.352.620 827.723 75 %…
  34. Q3 2010 RESULT – Dof Asa – slide 34
    OUTLOOK The New Horizon Picture of Skandi Mongstad DOF ASA PRESENTATION Q3 2010 - 34
  35. Q3 2010 RESULT – Dof Asa – slide 35
    SHORT TERM OUTLOOK High contract coverage for both supply and subsea in Q4 More vessels contributing compared to previous quarters Ebitda in Q4 expected to be better than Q2 Ebitda The New Horizon DOF ASA PRESENTATION Q3…
  36. Q3 2010 RESULT – Dof Asa – slide 36
    Long Term Outlook Ebitda growth new vessels Q4 2010 H1 2011 H2 2011 2012 2013 Skandi Urca (8 yrs Petrobras) Skandi Angra Skandi Iquazu (8 yrs Petrobras) Skandi Paraty (8 yrs Petrobras) Skandi Vietnam 5 Skandi Vietnam 6…
  37. Q3 2010 RESULT – Dof Asa – slide 37
    MARKET SUMMARY DOF FLEET Supply Weak North Sea spot market expected near term Several long term opportunities for PSVs in the North Sea Strong market in Brazil several new tenders Subsea Expected lower activities in the North…
  38. Q3 2010 RESULT – Dof Asa – slide 38
    Thank you The New Horizon DOF ASA PRESENTATION Q3 2010 - 38

From the store

Browse maps, data & reports in the Shale Experts store