Sevan Marine ASA Presentation of first quarter results 2012 Shippingklubben, Oslo, May 22, 2012 Presented by: Carl Lieungh, CEO Kjetil Vangsnes, CFO 1
IMPORTANT INFORMATION THIS PRESENTATION AND ITS ENCLOSURES AND APPENDICES (HEREINAFTER JOINTLY REFERRED TO AS THE PRESENTATION) HAVE BEEN PREPARED BY SEVAN MARINE ASA (SEVAN OR THE COMPANY) EXCLUSIVELY FOR INFORMATION PURPOSES. THIS…
Contents Floating Production (FPSO/FSO) Topside and Process Technology (KANFA) First Quarter Highlights 3
Sevan Marine business model FPSO / FSO; targeting Concept and FEED studies leading up to license agreements Concept FEED License Skrugard Western Isles Goliat FPSO / FSO; Lease Contracts in cooperation with Teekay…
Status ongoing projects (1) FPSO Sevan 1000 for the Goliat Field Sevans FPSO concept selected based on the harsh and sub-arctic Barents Sea environment Technology license agreement signed in 2009 ENI has licensed the right to…
Status ongoing projects (2) Voyageur upgrade project for the Huntington Field Total progress above 94 percent Sail away expected from the Nymo yard during July or August of 2012. Pre-operations and commissioning started under…
Tendering focus: Concept- and FEED studies License contracts Concept FEED License Status: Significant interest for Sevans technology from clients post the restructuring Secured 40,000 mhrs in paid study work so far in 2012…
Hull No. 4 and No. 5 Opportunities for growth Hull No. 4 and 5 Hull No. 4 steel completed with process Hull No:4 deck, bulwark and a partially completed accommodation block Hull No. 5 is less advanced, but the structural steel…
En route to build a robust business model based on strong fundamentals Unique and proven solutions for floating 1 offshore applications Strong momentum building up in the FPSO 2 market 3 Pre-qualified by oil-majors for…
Contents Floating Production (FPSO/FSO) Topside and Process Technology (KANFA) First Quarter Highlights 10
KANFA has an ambition to become a leading processing house Leading processing house Diversified revenue mix (engineering, modules, topsides) Robust financial performance, profitable throughout the cycle Broad geographic…
Status KANFA Group Currently 48 employees throughout the KANFA Group Revenue in line with budget and significantly higher than last year Currently involved with several engineering and paid studies Tendering for FPSO process…
Contents Floating Production (FPSO/FSO) Topside and Process Technology (KANFA) First Quarter Highlights 13
Highlights Operations o Revenue and costs inline with management expectations o Normalized net burn rate in Q1 was approximately MUSD 1 per month o Current net burn rate is in the range MUSD 0.5 1.0 per month Restructuring o…
Q1 2012 Balance Sheet, Equity and Liabilities USDm 31.03.12 31.12.11 31.03.11 Share capital 34,6 34,6 16,6 Other equity 97,8 87,9 740,6 Total shareholders' equity 132,4 122,5 757,2 Minority Interest 1,0 0,8 0,6 Total equity 133,4…
Q1 2012 Financial Highlights Trade and other receivables of USD 39.9m (USD 44.4m) Note: See Q1 2012 interim report dated May 21, 2012 for a more detailed description of the first quarter interim financial results. 18
Q1 2012 Financial Highlights Other current liabilities of USD 44.4m (USD 47.5m) Note: See Q1 2012 interim report dated May 21, 2012 for a more detailed description of the first quarter interim financial results. 19
Highlights Voyageur sail away expected during July or August 2012 Skrugard FEED study for Statoil in the Barents sea Well positioned for new projects Full focus on hulls no. 4 and 5 The organisation is being adapted to fit the…
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