Results Briefing Fourth Financial Quarter, 2012* Analyst & Investor Update 20th December 2012 *Financial Quarter ending 30 September 2012
Agenda 1. Introduction 2. Subsea Business Review 3. Drilling Business Review 4. Financial Review 5. Questions and Answers 3
1. Introduction 4
Overview of Mermaid Maritime Plc. 29 5 500 Years since Mermaid regions in skilled workers, Maritimes which crews, technicians, establishment Mermaid service providers & operates management SUBSEA BUSINESS DRILLING BUSINESS 8…
Key highlights o Mermaid achieved total revenue in FY2012 of Baht 5,714.1 mil, an increase of Baht 171.3 mil, or 3.1%, from Baht 5,542.8 million in FY2011. Operating profits increased by Baht 313.2 mil to Baht 498.8 mil, an improvement…
Market Update Oil Service companies revenue growth estimates (*) o Consensus estimates for oil service companies (OSC) revenue growth have been adjusted downwards since mid- year 2012 Growth in oil service cos sectors (*)…
2. Subsea Business Review 8
Subsea Key Highlights o Subsea achieved asset utilisation of 65.0% in FY2012 versus 66.6% in FY2011, and revenue of Baht 4,624.8 mil, an increase of Baht 91.8 mil (+2.0%) compared to FY2011. Average day rates for larger vessels…
3. Drilling Business Review 10
Drilling Key Highlights o Drilling achieved asset utilisation of 64.6% in FY2012 versus 47.9% in FY2011, and revenue of Baht 1,089.3 mil, an increase of Baht 79.5 mil (7.9%) compared to FY2011. o From 2008, MTR-2 has been contracted…
Asia Offshore Drilling - Update Seadrill Mermaid 33.75% 33.75% Other Investors 29.9.11 32.5% AOD Board resolved not to exercise 2nd 01.07.11 option for 4th rig. To 2013 2nd PP successfully 15.07.11 increase water depth Delivery of…
4. Financial Review 13
Financial Highlights FY2012 Year on Year Comparison FY2012 Revenue (in THB millions) FY2012 Net Profit /(Loss) (in THB millions) Operating Cash Flow Basic and Diluted EPS (in THB millions) 5,714.1 5,542.8 0.18 975 86.0 6…
FY2012 Sector Breakdown - Subsea 4Q2011 Service Operating Operating Utilization Description Income Profit/Loss 4Q2012 Margin Rate* 3,482.8 Inspection, repair and 3,013.9 66.6% MOS maintenance; 65.0% Infrastructure 142.7…
FY2012 Profits & Losses All units in THB millions In 3Q11 there was an unrealised loss from an int rate swap contract Subtech and Mgmt of Aod Seascape have shifted from In 3Q11 there was an their best Mermaid to performance…
Debt structure Units in THB millions 0.32 0.33 Net D/E (Times) Low D/E ratio 16% 13% Net Gearing (%) Loan Maturity allows financial flexibility < 1 year Total Loans Outstanding 2011 4Q2012 Loans still decreasing < 1 year since…
Cash flow Cash & Cash Equivalents 1,352.4 1,917.0 Cash and cash equivalents increased 41.8 % by Baht 564.6 Restricted Deposits at million Financial Institutions 330.6 0.0 All units in THB millions CF from Financing CF From…
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