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Q1 2013 EARNINGS CALL – Siem Offshore

Siem Offshore · May 6, 2013 · 16 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. Q1 2013 EARNINGS CALL – Siem Offshore – slide 1
    First Quarter Report 2013
  2. Q1 2013 EARNINGS CALL – Siem Offshore – slide 2
    This is Siem Offshore Inc. The Companys vision is to become the leading provider and the most attractive employer offering marine services to the offshore energy service industry. The Company shall deliver quality and reliable…
  3. Q1 2013 EARNINGS CALL – Siem Offshore – slide 3
    Report For The First Quarter 2013 6 May 2013 Siem Offshore Inc. (the Company; Oslo Stock Exchange: SIOFF) reports the results for the first quarter 2013. Selected Financial Information Three Months Ended 1Q 2013 1Q 2012 (Amounts in…
  4. Q1 2013 EARNINGS CALL – Siem Offshore – slide 4
    Results Results for the First Quarter 2013 earned operating revenues of USD 20.5 mil- Brazilian owned and flagged vessels was The operating revenues for the quarter lion and had 78% utilisation (2012: USD 24.2 USD 2.6 million (2012:…
  5. Q1 2013 EARNINGS CALL – Siem Offshore – slide 5
    Financing And Capital Structure Fleet Employment And Contract past 12 months for SOC in the renewable Backlog energy segment and the total contract Cash and Equity value for all three projects in aggregate Net cash flow from operations…
  6. Q1 2013 EARNINGS CALL – Siem Offshore – slide 6
    The PSV segment experienced periods In general, the North Sea spot markets going forward. A majority of the current of strong demand during the quarter, lead- are still characterised by an imbalance OSCVs under construction are expected…
  7. Q1 2013 EARNINGS CALL – Siem Offshore – slide 7
    Consolidated Income Statements Note 2013 2012 2012 (Amounts in USD 1 000) 1Q 1Q Jan-Dec Unaudited Unaudited Audited Operating revenues 4 79,779 90,894 368,213 Operating expenses -49,159 -51,117 -210,798 Administration expenses…
  8. Q1 2013 EARNINGS CALL – Siem Offshore – slide 8
    Consolidated Statements of Financial Position (Amounts in USD 1 000) Note 31.03.2013 31.03.2012 31.12.2012 Unaudited Unaudited Audited Non-current assets Vessels and equipment 5 1,238,499 1,423,552 1,260,118 Vessels under…
  9. Q1 2013 EARNINGS CALL – Siem Offshore – slide 9
    Consolidated Statements of Cash Flows 2013 2012 2012 (Amounts in USD 1 000) Jan-Mar Jan-Mar Jan-Dec Unaudited Unaudited Audited Cash flow from operations Profit before taxes, excluding interest 25,436 34,523 47,943 Interest paid…
  10. Q1 2013 EARNINGS CALL – Siem Offshore – slide 10
    Note 4 - Segment Reporting by Business Area 2013 2012 2012 (Amounts in USD 1 000) 1Q 1Q Jan - Dec Unaudited Unaudited Audited Operating revenue by business area Platform Supply Vessels 20,455 24,223 91,433 Multi Role Support…
  11. Q1 2013 EARNINGS CALL – Siem Offshore – slide 11
    Note 5 - Vessels Under Construction and Vessels and Equipment Land and Vessels and Vessels under Capitalised (Amounts in USD 1 000) buildings equipment construction project costs Total Balance on 1 January 2013 5,069 1,526,205…
  12. Q1 2013 EARNINGS CALL – Siem Offshore – slide 12
    Note 6 - Consolidated Statement of Changes in Equity Total no. of Share premium (Amounts in USD 1 000) shares Share capital reserves Other reserves Equity on 1 January 2013 393,924,836 3,939 531,025 -11,366 Net profit to…
  13. Q1 2013 EARNINGS CALL – Siem Offshore – slide 13
    Note 7 - Long-term Debt Drawn Balance Committed amount 31.03.2013 Currency Total facility total facility currency USD Interest rate Maturity USD 223,000 223,000 223,000 98,915 Floating 2017 USD 112,000 112,000 112,000 79,145…
  14. Q1 2013 EARNINGS CALL – Siem Offshore – slide 14
    Note 8 - Net Interest-Bearing Debt (Amounts in USD 1 000) 31.03.2013 31.12.2012 Unaudited Audited Cash and cash equivalents 226,146 107,068 Total cash 226,146 107,068 Short-term interest bearing-debt -76,852 -82,287 Long-term…
  15. Q1 2013 EARNINGS CALL – Siem Offshore – slide 15
    Note 10 - Taxes Liability tonnage (Amounts in USD 1 000) tax regime Tax liability 1 January 2013 964 Tax expense 3 Paid -489 Effect of exchange rate differences -15 Tax liability, new tonnage tax legislation on 31 March 2013…
  16. Q1 2013 EARNINGS CALL – Siem Offshore – slide 16
    Financial Calender Siem Offshore Inc Financial Calendar 2013 Q2 2013 Thursday 22 August 2013 Q3 2013 Thursday 24 October 2013 Siem Offshore Inc c/o Siem Offshore AS Markensgate 8 4611 Kristiansand Norway Postal address:…

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