Skip to main content Q3 2010 EARNINGS CALL – Siem Offshore Investor Presentation | Shale Experts
Loading...
Pm

Q3 2010 EARNINGS CALL – Siem Offshore

Siem Offshore · Oct 28, 2010 · 22 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 EARNINGS CALL – Siem Offshore – slide 1
    Earnings Presentation Third Quarter 2010 CEO Terje Sorensen CFO Dagfinn Lie 28 October 2010
  2. Q3 2010 EARNINGS CALL – Siem Offshore – slide 2
    Highlights Third Quarter 2010 Raised net proceeds of NOK 347 million through a private placement on 6 July 2010 of approximately 36 million shares on NOK 9.70 per share. Delivery of the two AHTS vessels Siem Ruby and Siem Topaz,…
  3. Q3 2010 EARNINGS CALL – Siem Offshore – slide 3
    Subsequent Events In October, the Company replaced its NOK 1.76 billion loan and guarantee facility for six AHTS vessels with a NOK 2.52 billion loan and guarantee facility for same number of vessels. The new facility provides…
  4. Q3 2010 EARNINGS CALL – Siem Offshore – slide 4
    Income Statement Year Ended Q3 January - September 31 December 2010 2009 2010 2009 2009 Amounts in USD million Unaudited Unaudited Unaudited Unaudited Audited Operating Revenue 58.0 46.5 167.4 134.4 183.6 Operating expenses ( 32.0) (…
  5. Q3 2010 EARNINGS CALL – Siem Offshore – slide 5
    Operating Margin
  6. Q3 2010 EARNINGS CALL – Siem Offshore – slide 6
    Operating Margin Q3 Q3 2010 Q3 2009 Amounts in Operating Operating Operating Operating Operating Operating USD million revenue expenses margin revenue expenses margin PSV 25.8 -12.5 13.3 21.0 -10.4 10.6 MRSV 13.6 -4.7 8.9 17.7 -8.9 8.8…
  7. Q3 2010 EARNINGS CALL – Siem Offshore – slide 7
    Associated Companies (per 30.09.2010) Amounts in USD million Q3 Nine months ended Result from assiciated companies 2010 2009 2010 2009 Overseas Drilling Ltd. (50%) 2.1 1.8 5.8 3.8 KS Big Orange XVlll (41.33%) 0.8 ( 0.3) 0.7 ( 0.4)…
  8. Q3 2010 EARNINGS CALL – Siem Offshore – slide 8
    Siem WIS Status applications Status PCD The first commercial job with the Pressure Control Device (PCD) for Statoil ASA were completed in July. The operation was performed successfully on Statoils Gullfaks field. The system is now…
  9. Q3 2010 EARNINGS CALL – Siem Offshore – slide 9
    Financial Position and Cash Flow
  10. Q3 2010 EARNINGS CALL – Siem Offshore – slide 10
    Statement of Financial Position 30 September 30 September 31 December Amounts in USD million 2010 2009 2009 Unaudited Unaudited Audited Intangible assets 13.9 12.7 14.1 Vessels under construction 182.7 178.6 208.5 Vessels. equipment…
  11. Q3 2010 EARNINGS CALL – Siem Offshore – slide 11
    Consolidated Statement of Cash Flows Amounts in USD million 30.09.2010 31.12.2009 Cash flow from operations Unaudited Audited Profit /(loss) before taxes, excluding interest 16.9 106.6 Depreciation and amortization 38.6 37.2 Effect of…
  12. Q3 2010 EARNINGS CALL – Siem Offshore – slide 12
    Future Yard Instalments Amounts in USD million Q4-2010 2011 2012 2013 2014 Total Future yard instalments AHTS Vessels 82.1 82.1 0.0 0.0 0.0 164.2 FCVs and FSVs 3.5 1.2 0.0 0.0 0.0 4.6 OSRVs 10.7 32.5 15.1 0.0 0.0 58.2 PSVs 8.1 0.0 62.8…
  13. Q3 2010 EARNINGS CALL – Siem Offshore – slide 13
    Debt Facilities (forecasted) Amounts in USD million Q4-2010 2011 2012 2013 2014 Total Debt facilities Open balance 710.1 835.4 793.2 761.7 747.3 710.1 Drawings 1) 138.1 101.3 72.1 66.6 0.0 378.2 Instalments -12.8 -143.5 -103.6 -81.0…
  14. Q3 2010 EARNINGS CALL – Siem Offshore – slide 14
    Employment and Deliveries Vessels in Operation and Shipbuilding Contracts
  15. Q3 2010 EARNINGS CALL – Siem Offshore – slide 15
    Vessels in Operation PSV Employment 2010 2011 2012 2013 2014 2015 Owner- Vessel 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Siem Sasha 100 % Siem Sophie 100 % Siem Louisa 100 % Siem Danis 100 % Siem Mollie…
  16. Q3 2010 EARNINGS CALL – Siem Offshore – slide 16
    Vessels in Operation MRSV and AHTS Employment 2010 2011 2012 2013 2014 2015 Owner- Vessel 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Siem Swordfish 100 % Seven Sisters 100 % Siem Marlin 100 % Adams Vision…
  17. Q3 2010 EARNINGS CALL – Siem Offshore – slide 17
    Vessels in Operation Other Employment 2010 2011 2012 2013 2014 2015 Owner- Vessel Type 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Big Orange WSV 41 % XVIII Joides SPV 50 % Resolution 100% Total order…
  18. Q3 2010 EARNINGS CALL – Siem Offshore – slide 18
    Shipbuilding Contracts Vessel Deliveries 2010 2011 2012 2013 2014 2015 Owner- Vessel Type 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Siem Diamond AHTS 100 % Contract USD 70 million Siem Amethyst AHTS 100 %…
  19. Q3 2010 EARNINGS CALL – Siem Offshore – slide 19
    Market outlook
  20. Q3 2010 EARNINGS CALL – Siem Offshore – slide 20
    Market Outlook The North Sea spot market has deteriorated during the third quarter 2010 compared to previous quarter, and is expected to remain weak over the winter season. The growth rate for the fleet of larger offshore support…
  21. Q3 2010 EARNINGS CALL – Siem Offshore – slide 21
    World High-End Fleet growth - Supply growth easing from 2010/2011 SIOFFs 10 AHTS all have 28,000 BHP. All of SIOFFs PSVs in this category. 21 Siem Offshore, ODS Petrodata, Carnegie
  22. Q3 2010 EARNINGS CALL – Siem Offshore – slide 22
    Global Rig Market Global Jack-Up market Global Floater market Total of Jack-Ups Non-US contracted and working stable Y/Y. Total of Non-US Floaters (semis and drillships) contracted and working up Y/Y. Both for UDW fleet and 2-4G…

From the store

Browse maps, data & reports in the Shale Experts store