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Q3 2013 EARNINGS CALL – Era Helicopters

Era Helicopters · Nov 13, 2013 · 19 slides

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Slides

  1. Q3 2013 EARNINGS CALL – Era Helicopters – slide 1
    Exhibit 99.2 3rd Quarter 2013 Earnings Presentation 0 November 13, 2013
  2. Q3 2013 EARNINGS CALL – Era Helicopters – slide 2
    3rd Quarter 2013 Earnings Call Agenda I. Introduction Chris Bradshaw, EVP and CFO II. Q3 Operational Highlights Sten Gustafson, Chief Executive Officer III. Financial Review Chris Bradshaw, EVP and CFO IV. Closing Remarks Sten…
  3. Q3 2013 EARNINGS CALL – Era Helicopters – slide 3
    NonGAAP Financial Measures Reconciliation This presentation includes EBITDA, Adjusted EBITDA and Adjusted EBITDAR as supplemental measures of Era Groups operating performance. EBITDA is defined as Earnings before Interest (includes…
  4. Q3 2013 EARNINGS CALL – Era Helicopters – slide 4
    Q3 Operational Highlights 4
  5. Q3 2013 EARNINGS CALL – Era Helicopters – slide 5
    Q3 2013 Highlights Strong operating performance in Q3 2013 reflected by record Q3 operating revenues of 81.0mm 4% year-over-year increase from Q3 2012 9% sequential increase from Q2 2013 Q3 net income attributable to Era Group Inc. of…
  6. Q3 2013 EARNINGS CALL – Era Helicopters – slide 6
    EC225 Helicopters Return to Service After months of tests, Eurocopter identified the root cause of the service failures and implemented engineering solutions, prevention and detection measures to remedy the matters that led to the…
  7. Q3 2013 EARNINGS CALL – Era Helicopters – slide 7
    Oil and Gas Q3 operating revenues from oil and gas activities of 60.4mm 20% increase from Q3 2012 15% increase from Q2 2013 U.S. Gulf of Mexico operating revenues of 45.1mm 12% increase from prior year quarter primarily due to more…
  8. Q3 2013 EARNINGS CALL – Era Helicopters – slide 8
    Other Service Lines Contract-leasing revenues of 10.4mm in Q3 2013 36% decrease from Q3 2012 primarily due to the timing of cash receipts from Aerleo and to contract-leases that have ended since the prior year quarter 21% decrease…
  9. Q3 2013 EARNINGS CALL – Era Helicopters – slide 9
    Helicopter Order and Options Book Remaining Amount Delivery Class Type Number Firm Cancellable Current Order Book 2013 Medium AW139 2 20.7 2014 Medium AW139 2 24.6 2014 Heavy AW189 3 30.5 16.5 2015 Heavy AW189 2 33.0 2016…
  10. Q3 2013 EARNINGS CALL – Era Helicopters – slide 10
    Financial Review 10
  11. Q3 2013 EARNINGS CALL – Era Helicopters – slide 11
    Period Over Period Comparison Three Months Ended September 30, 2013 2012 Change % Variance (000s) Operating revenues 80,997 77,989 3,008 4% Operating expenses 51,338 46,235 5,103 (11%) G&A expenses 9,683 10,338 (655) 6%…
  12. Q3 2013 EARNINGS CALL – Era Helicopters – slide 12
    Sequential Quarter Comparison Three Months Ended 30Sep 30Jun Change % Variance (000s) Operating revenues 80,997 74,237 6,760 9% Operating expenses 51,338 46,945 4,393 (9%) G&A expenses 9,683 9,545 138 (1%) Depreciation 11,340…
  13. Q3 2013 EARNINGS CALL – Era Helicopters – slide 13
    Capitalization and Financial Policy September 30, 2013 (000s) Era continues to generate substantial free As Adjusted cash flow Flexibility to fund growth via organic and Cash and cash equivalents 32,417 strategic opportunities…
  14. Q3 2013 EARNINGS CALL – Era Helicopters – slide 14
    Net Asset Value 50 45 40 35 30 25 20 15 22Jan 22Feb 22Mar 22Apr 22May 22Jun 22Jul 22Aug 22Sep 22Oct NAV per Share (excl. deferred taxes) Stock Price NAV per Share (net of deferred taxes) Book Value per Share 14
  15. Q3 2013 EARNINGS CALL – Era Helicopters – slide 15
    Appendix 15
  16. Q3 2013 EARNINGS CALL – Era Helicopters – slide 16
    Fleet Overview Joint Average Owned Ventured Leased-In Managed Total Age(a) Heavy: EC225 9 9 4 Total Heavy 9 9 4 Medium: AW139 35 1 36 4 Bell 212 11 11 35 Bell 412 6 6 32 S76 A/A++ 2 1 3 23 S76 C+/C++ 5 1 6 7 Total Medium 59 1…
  17. Q3 2013 EARNINGS CALL – Era Helicopters – slide 17
    NAV per Share Calculation (as of 9/30/13) (in million, except share data) + FMV of Helicopters 924 + NBV of Other PP&E 69 + Working Capital 75 + Other Net Tangible Assets 47 Longterm Debt (240) Deferred Taxes (208) Net Asset…
  18. Q3 2013 EARNINGS CALL – Era Helicopters – slide 18
    Financial Highlights Fiscal Year ( millions) 2008 2009 2010 2011 2012 Q3 '13 Q3 '12 Revenue 248.6 235.7 235.4 258.1 272.9 81.0 78.0 Operating Expenses 181.5 148.0 147.2 162.7 167.2 51.3 46.2 G&A 20.1 21.4 25.8 31.9 34.8 9.7 10.3…
  19. Q3 2013 EARNINGS CALL – Era Helicopters – slide 19
    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 and Adjusted EBITDAR to more…

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