Polarcus Limited, 16 FEB 2011 Armani Hotel, Burj Khalifa, Dubai, UAE Rolf Ronningen, CEO Polarcus Tom Henrik Sundby, CFO Polarcus
Highlights Q4 2010 Revenue of USD 56.3 million and EBITDA of USD 21.2 million Positive Net Cash Flow from operating activities High end operational capabilities and fleet backlog continued to grow Reacquired and financed Polarcus…
Financials highlights 60 56.3 50 Revenue of USD 56.3 million 40 EBITDA of USD 21.2 million 30.8 USD millions 30 EBIT of USD 7.9 million 24.8 21.2 20 Vessel utilization of 89% 10.8 10 8.5 7.9 4.6 2.3 0.1 0 Q1 Q2…
Consolidated income statement Quarter ended Year ended 31-Dec-10 31-Dec-09 31-Dec-10 31-Dec-09 (In thousands of USD) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenues 52,848 - 119,256 - Other income 3,478 - 3,478 - Total revenues…
Consolidated statement of cash flows Quarter ended Year ended 31-Dec-10 31-Dec-09 31-Dec-10 31-Dec-09 (In thousands of USD) (Unaudited) (Unaudited) (Unaudited) (Audited) Cash flows from operating activities Profit/(loss) for the period…
CAPEX cash flow Q4 2010 180.0 160.0 140.0 Q4-11 E Q3-11 E in Millions of USD 120.0 Q2-11 E 100.0 Q1-11 E Q4-10 80.0 60.0 40.0 20.0 - Polarcus Nadia Polarcus Naila Polarcus Samur Polarcus Asima Polarcus Alima…
New financing secured 1200 1000 USD 130 million new equity 180 70 USD 80 million bond at 12.5 % 800 135 Sale lease back interest, 5 years Vendor 600 USD 55 million bank loan at 170 Bank loan Bonds approximately 5%…
Guiding 2011 Opex Nadia, Naila, Asima & Alima to stay within USD 90k-100k Opex Samur USD 80k-85k SG&A MUSD 35 Maintenance Capex MUSD 15 (4% after first year in production) 2011 Polarcus Limited www.polarcus.com Slide 10
Share information Share Performance (NOK) Top 20 Shareholders (per 07 FEB 2011) Shareholder Share % 9.00 DRYDOCKS WORLD LLC 37,500,000 9.15 ZICKERMAN HOLDING LT 37,451,616 9.14 8.00 AWILCO INVEST AS 31,000,000 7.57 ZICKERMAN GROUP LTD…
POLARCUS NADIA Operational update TGS-NOPEC, UK: Completed 30th October 2010 10 x 5100m 50m streamer separation Polarcus first HD3D & HD4D acquisition successfully acquired Total project downtime < 3% over 1762 sq.km acquired 100%…
POLARCUS NAILA Operational update OMEL, Nigeria: Completed 15 November 2010 10 x 8100m 100m streamer separation AGIP, Nigeria: Completed 28th December 2010 4D monitor survey: 6 x 6000m 100m separation Multi-vessel 4D monitor…
POLARCUS ASIMA Operational update Rosneft, Black Sea: Completed 15th December 12 x 6000m 100m streamer separation 100% 2069 km2 delivered on time in a challenging environment complete Completing this project while working within…
Backlog firmed up well into Q2 2011 Vessel 2010 2011 Q1 Q2 Q3 Q4 Q1 Q2 POLARCUS NADIA TGS South America POLARCUS NAILA T Noble Gassnova Nexen Gassnova OMV OMEL Eni TAP SW Africa North Sea POLARCUS ASIMA T Rosneft South America…
Polarcus Selma Option for POLARCUS SELMA (8 streamers) Option exercisable until actual delivery, then right of first refusal Delivery postponed until end Q2 2011 The company has several strategic alternatives for capitalizing the…
Summary Solid financial performance with 3 vessels Demand/Supply in balance Fleet, capabilities, and track record growing Uniquely positioned for the sector recovery Slide 20 2011 Polarcus Limited www.polarcus.com
RIGHTPLAN RIGHTSIZE RIGHTDESIGN Polarcus Limited, 16 FEB 2011 Armani Hotel, Burj Khalifa, Dubai, UAE Phil Fontana, Chief Geophysicist Polarcus Peter Zickerman, EVP Polarcus The presentation will commence in a few minutes
Loading...
