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FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa

Dof Asa · Feb 24, 2011 · 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. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 1
    DOF ASA Preliminary Result 2010 CEO Mons S. Aase CFO Hilde Drnen The New Horizon DOF ASA PRESENTATION Preliminary Result 2010 - 1
  2. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 2
    Agenda Highlights Q4 Overview Group Status DOF Subsea Status Supply Q4 Financials Outlook The New Horizon DOF ASA PRESENTATION Preliminary Result 2010 - 2
  3. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 3
    Highlights Q4 Contracts: 2 x 6 years contracts with ConocoPhillips Norway (January) 3 x 5 years contract with Petrobras for RSV vessels 2 years extension of Skandi Stord with Statoil until December 2012 New building order for…
  4. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 4
    Highlights Q4 Financing: DOF Subsea bond issue; 3,5 yrs MNOK 750 in October DOF ASA bond issue; 4,5 yrs MNOK 600 mill in November New loan facilities; MNOK 1 050 and MUSD 230 regarding new vessel deliveries Refinancing existing…
  5. FEBRUARY 2011 CORPORATE PRESENTATION – 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 15 PSVs 2 CSVs DOF Subsea 2 CSV Modern fleet & Equipment 21 CSV/ROV vessels 44 ROVs + 1 AUV…
  6. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 6
    The fleet market segments PSV AHTS ROV/OCSV/DSV/ Total fleet No. of vessels SEISMIC VESSELS DOF ASA 15 3 2 20 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. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 7
    GLOBAL PLAYER 21 Bergen Austevoll Moscow Aberdeen St. Johns 1 Cairo Houston 2 Manila Singapore Brunei 2 Jakarta Macae Angola 4 Rio de Janeiro Perth Buenos Aires 25 GEOGRAPHICAL FOCUS AREAS The New…
  8. FEBRUARY 2011 CORPORATE PRESENTATION – 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 35 bn Firm contract counts for NOK 20 bn Options count for NOK 15 bn The…
  9. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 9
    DOF SUBSEA The New Horizon Photographer: Harald M. Valderhaug DOF ASA PRESENTATION Preliminary Result 2010 - 9
  10. FEBRUARY 2011 CORPORATE PRESENTATION – 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 N…
  11. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 11
    DOF Subsea Contract Coverage (ROV & Others) 2011 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Norskan Botafogo Petrobras Norskan Skandi Fluminence Petrobras Skandi Chieftain Petrobras Skandi Aker AKOFS DOFCON Skandi Seven…
  12. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 12
    Newbuilds Newbuilds delivered in 2010 planned to deliver in 2011 Skandi Aker Skandi Singapore Skandi Niteroi Skandi Vitoria Skandi Skolten Skandi Skansen Skandi Hercules Skandi Santos The New Horizon DOF ASA…
  13. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 13
    Newbuilds delivered in 2010 Skandi Aker Skandi Vitoria Construction vessel (OSCV 06L) Construction vessel (OSCV 06) LOA: 156.9 m LOA: 141.3 m Breadth: 27.0m Breadth: 27.0m Contract: 5 years + options Contract: 4 years + options…
  14. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 14
    Newbuilds delivered in 2010 Skandi Skolten Skandi Hercules DOFSUB Atlantic project DOFSUB Asia project vessel vessel Construction & AHTS vessel Construction & AHTS vessel Hybrid propulsion Hybrid propulsion 350 t Bollard…
  15. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 15
    Newbuilds delivered in 2010 Skandi Santos Construction vessel (OSCV 03) LOA: 120.7 m Breadth: 23.0m ROV: 2 x Side Launch Crane: 250 t Accommodation: 120 men Contract. 5 years + options The New Horizon DOF ASA PRESENTATION…
  16. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 16
    Newbuilds planned to deliver in 2011 Skandi Singapore Skandi Niteroi DOFSUB Asia project vessel Construction vessel (OSCV 06) DP II Dive Support Vessel LOA: 141.3 m 2 x Triton XLX W ROV Breadth: 27.0m 18 man saturation diving…
  17. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 17
    Newbuilds planned to deliver in 2011 Skandi Skansen Construction & AHTS vessel 90 men accommodation Hybrid propulsion The Skandi Skansen also features STX's new bow design, optimised for 361 t Bollard Pull Eco-drive in all…
  18. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 18
    Status Supply The New Horizon Photographer: Harald M. Valderhaug DOF ASA PRESENTATION Preliminary Result 2010 - 18
  19. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 19
    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…
  20. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 20
    Aker DOF Deepwater - Contract Coverage Aker DOF Deepwater AS - 50% DOF Vessel Name 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…
  21. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 21
    DOF / Norskan /DOF Subsea Contracts in Brazil 2 0 10 2 0 11 2 0 12 2 0 13 2 0 14 2 0 15 Vessel 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…
  22. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 22
    Newbuilds Supply in 2010 Newbuilds Supply 2011 Skandi Vega 3 x AH08 Skandi Amazonas Skandi Ipanema Skandi Gamma Skandi Peregrino Skandi Hawk Skandi Feistein The New Horizon DOF ASA PRESENTATION Preliminary Result…
  23. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 23
    Financials The New Horizon DOF ASA PRESENTATION Preliminary Result 2010 - 23
  24. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 24
    Financial/Operational Highlights Q4 2010 Utilization Subsea fleet (89%) Good activity in the North Sea and Brazil Variable activity in Australia Utilization Supply fleet (91%) Good operation in the North Sea Lower utilization in…
  25. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 25
    Result Q4 2010 ALL FIGURES IN NOK MILLION Q4 2010 Q4 2009 2010 2009 Operating income 1 574 1 161 5 462 4 327 operating expenses vessels 1 121 866 3 753 3 094 Operating profit before depreciation EBITDA 454 295 1 709 1 234…
  26. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 26
    P&L Supply and Subsea ALL FIGURES IN NOK MILLION DOF ASA DOF SUBSEA Total DOF ASA DOF SUBSEA Total Q4 2010 Q4 2010 Q4 2010 YTD 2010 YTD 2010 YTD 2010 Operating income 490 1 084 1 574 1 890 3 572 5 462 - - Total operating income…
  27. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 27
    Results - Business Segments ALL FIGURES IN NOK MILLION EBITDA Q4 2010 EBITDA Q4 2010 Q4 2009 15% PSV 70 32 AHTS 90 45 CSV 293 199 20% Total 453 276 65% EBITDA Q4 2009 12% 16% 72% The New Horizon DOF ASA…
  28. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 28
    Results Geographical Segments ALL FIGURES IN NOK MILLION EBITDA EBITDA Q4 2010 Q4 2010 Q4 2009 Europe/ West Africa 133 113 Australasia 15 13 29% 37% Brazil 138 73 America/Worldwide 167 77 3% Total 453 276 31% EBITDA…
  29. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 29
    Currency effects on Q4 2010 results ALL FIGURES IN NOK MILLION Financial items Q4 2010 Acc Q4 2010 Q4 2009 Acc Q4 2009 Share of loss profit from associated 3 -5 22 197 Interest reveneue 18 75 57 121 Interest costs -218 -772…
  30. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 30
    Balance Q4 2010 ALL FIGURES IN NOK MILLION 31.12.2010 31.12.2009 ASSETS Intangi bl e a s s ets 493 476 Fi xed a s s ets 21 541 17 263 Fi na nci a l a s s ets 289 89 Total non current assets 22 323 17 827 Recei va bl es 2 008 1…
  31. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 31
    Key figures Q4 2010 Q4 2010 Q4 2009 2010 2009 EBITDA margin 29 % 25 % 31 % 29 % EBIT margin 7% -13 % 10 % 5% Cashflow per share 0,50 6,97 8,40 12,10 Profit per share ex. minority interest -1,30 0,94 -1,88 6,87 Profit per share…
  32. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 32
    DOF High asset values Fair market values DOF fleet have been stable and slightly increased since 2007 Fair market values Brazilian built vessels have increased with approx. 25% since 2007 Market value vessel - split on segment…
  33. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 33
    Significant Asset Coverage The combined market value DOF vessels in operation per December is NOK 22 bn Supply FMV NOK 9,6 bn NIBD NOK 5,3 bn Subsea FMV NOK 12,7bn NIBD NOK 8,1 bn Asset-level gearing on the fleet including…
  34. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 34
    The DOF Group New Builds New Builds DOF ASA Group 31.12.2010 NOK 000 PROJECT REMAINING Vessel Name PRICE PAID IN CAPEX FINANCING 1) EQUITY Sum New Builds DOF ASA Group 10 943 500 2 099 500 8 844 000 7 932 042 911 958 Relative…
  35. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 35
    OUTLOOK The New Horizon Picture of Skandi Mongstad DOF ASA PRESENTATION Preliminary Result 2010 - 35
  36. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 36
    SHORT TERM OUTLOOK Q 1 2011: Repositioning of vessels: Geograph transit to Brazil, importation and onhire testing. Expected onhire to Petrobras next week Geobay, transit to Australia, onhire mid February Spot exposed vessels:…
  37. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 37
    Long Term Outlook Ebitda growth new vessels H1 2011 H2 2011 2012 2013 Skandi Urca (8 yrs Petrobras) Skandi Iguacu (8 yrs Petrobras) Skandi Angra Skandi Paraty (8 yrs Petrobras) Skandi Kvitsy (6 yrs CPh) Skandi Vietnam 5…
  38. FEBRUARY 2011 CORPORATE PRESENTATION – Dof Asa – slide 38
    Thank you The New Horizon DOF ASA PRESENTATION Preliminary Result 2010 - 38

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