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FULL YEAR 2013 RESULTS – Ig Seismic Services Plc

Ig Seismic Services Plc · Apr 16, 2014 · 34 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. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 1
    IG Seismic Services FY 2013 Results Conference Call Presentation Based on audited FY 2013 IFRS financial results 16 April 2014 1 www.igseis.com
  2. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 2
    Agenda Slide 4 Company Overview Slide 8 FY 2013 Highlights and Financial Results Slide 24 Russian Seismic Market Overview Q&A 3 www.igseis.com
  3. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 3
    1. Company Overview The Leading Pure-play Land & Transition Zone Seismic Company in Russia & the CIS Leading pure-play land and transition zone seismic company servicing clients primarily in Russia and the CIS Highest number of…
  4. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 4
    1. Company Overview Diversified and Blue Chip Customer Base Key Clients Diversified customer base Strong relationships with all key customers for seismic services including local NOCs, IOCs, international consortia and state…
  5. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 5
    1. Company Overview The Leading Pure-play Land & Transition Zone Seismic Company in Russia & the CIS The largest seismic business in Russia (1) Number of Crews in Russia Units Bases and data processing facilities in all the major…
  6. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 6
    Agenda Slide 4 Company Overview Slide 8 FY 2013 Highlights and Financial Results Slide 24 Russian Seismic Market Overview Q&A 7 www.igseis.com
  7. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 7
    2. FY 2013 Corporate Highlights Changes in Shareholder Structure Shareholder Structure November 2013 In November 2013 Nyala Investments Limited (formerly Volga Resources), sold its 13% stake in IGSS Free float Nikolay Levitskiy to…
  8. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 8
    2. FY 2013 Highlights Historical Stock Performance 12 December 2012 IGSS GDRs commence trading at LSE Main Market 15 April 2014 The issued share capital of IGSS: 20,833,400 shares Nominal value: US 0.01 per share 1 GDRs = 2 ordinary…
  9. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 9
    2. FY 2013 Highlights Key Financial Results Revenue Gross Profit & Margin Operating Cash Flow & % of Revenue US MM US MM US MM RUB: 18 113 MM 18 920 MM 19 340 MM 200 148.9 700 200 616.3 608.5 607.2 24.5% 600 130.2 500 150 118.7 21.4%…
  10. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 10
    2. FY 2013 Highlights Geographic Footprint as of December 2013 Key Hydrocarbon Provinces Timano-Pechora 67 crews* Operational Bases / Production Facilities Field Seismic Crews 11 DPI Facilities Operational Bases 8 28 operational…
  11. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 11
    2. FY 2013 Highlights Geographic Footprint as of December 2013 Seismic Revenue by Customer Seismic Revenue by Customer Seismic Revenue by Customer (FY 2013) (FY 2012) (2011 PF) Others Russneft 0,3% Gazprom Neft 15,2% Gazprom Neft…
  12. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 12
    2. FY 2013 Highlights Order Book Overview Seismic Order Book as of 31 December 2013 (1)(2) US MM As of December 31, 2013, the Companys seismic services order book amounted to approximately +26% 22% 1200 US1,029 million, of which…
  13. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 13
    2. FY 2013 Highlights FY 2013 Key Financial Results MM US 2013 FY 2012 FY 2011 PF 2013 vs. 2012 Chng, % Revenue 607.2 608.5 616.3 -0.2% EBITDA 132.8 119.1 115.8 +11.5% EBITDA Margin, % 21.9% 19.6% 18.8% 230 bp Normalized Net Profit/…
  14. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 14
    2. FY 2013 Highlights Important Operational Events (1/2) IGSS Signed a Long Term Agreement with Gazprom Neft The total area covered by the geophysical exploration under the contract may cover up to 5,000 square kilometers by the…
  15. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 15
    2. FY 2013 Highlights Important Corporate Events (2/2) September S&P Rates IGSS B Oultlook Positive and Rates Geotech Seismic Services ruA 2013 Geotech Seismic Services Placed Debut Issue of 5-year Bonds Worth RUR 3 bn October…
  16. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 16
    2. FY 2013 Financial Results Revenue Analysis Revenue by geographical areas Revenue by types of services US MM US Processing and interpretation Other revenue Revenue Russia Revenue Kazakhstan Field seismic operations 700 - 1.3% -…
  17. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 17
    2013 Revenue to Operating Profit Bridge 2. FY 2013 Financial Results US MM Cost Analysis Other 700 607.2 (477.1) 477.1 600 4.1 29.0 13.2 Operating Lease 500 67.6 400 Transportation Services 82.4 300 Depreciation and…
  18. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 18
    2. FY 2013 Financial Results 2013 EBITDA to Net Profit Bridge EBITDA to Net Profit Bridge US MM 150 132.8 (73.2) 100 59.6 (0.057) (2.8) (45.2) 50 11.6 (24.2) (12.6) 0 -50 EBITDA D&A and Adj. EBIT Current Normalized Financial…
  19. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 19
    2. FY 2013 Financial Results EBITDA to Free Cash Flow Bridge 2013 EBITDA to Free Cash Flow Bridge US MM 200 (100.8) 132.8 (1.9) 24.7 148.9 150 (6.7) 100 48.1 50 0 EBITDA Income One-off Change in Working Operating Capital FCF 2013…
  20. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 20
    2. FY 2013 Financial Results CAPEX Analysis Capital Expenditures Capital expenditures consist primarily of purchases US MM of equipment and software used in our operations, - 32.4% + 77.7% repayment of liabilities under finance…
  21. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 21
    2. FY 2013 Financial Results Debt Analysis Debt Maturity Schedule Debt by Currency as of IGSS committed to conservative financial policy 31 Dec 2013 US MM % Largely RUB denominated debt, to match cash flows 250 Relationships with…
  22. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 22
    Agenda Slide 4 Company Overview Slide 8 FY 2013 Highlights Slide 24 Russian Seismic Market Overview Q&A 23 www.igseis.com
  23. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 23
    3. Russian Seismic Market Overview (1/6) Growing Market Key Market Trends Forecast Growth in Russian Seismic Market 000 shot points Strong demand outlook both in greenfield and 1 brownfield 10 000 3D 9 002 Strong growth in demand…
  24. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 24
    3. Russian Seismic Market Overview (2/6) Russias Oil Reserves, Consumption and Production Russia in the eighth in the world by the size of TOP-10 Countries by Oil Reserves Bn bbls discovered oil reserves, and is the second by oil…
  25. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 25
    3. Russian Seismic Market Overview (3/6) Russian Oil Reserves Life and Availability of Deposits Reserves Replacement and Availability of Russias Oil Reserves Life vs. Oil Reserve Life of Deposits Key Regions of the World Years…
  26. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 26
    3. Russian Seismic Market Overview (4/6) Oil Extraction Increasingly Complex Oil extraction becoming more complex with only 31% of Structure of Recoverable Reserves in Russia Russian recoverable reserves characterized as conventional…
  27. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 27
    3. Russian Seismic Market Overview (5/6) Maintaining Production Key Priority for Russian Government Russia Oil Production MM Tonnes 600 Maintaining or growing production at the rates 459 470 481 491 489 494 505 512 518 523 421 37…
  28. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 28
    3. Russian Seismic Market Overview (6/6) Strong Demand Growth for High Tech / High Density Surveys Strong growth in 3D activity in recent years as producers Upside to Global Market Standards seek to optimise development and production…
  29. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 29
    Appendix A: Corporate Governance 30 www.igseis.com
  30. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 30
    Corporate Governance - Board of Directors Cumulative voting 3 experienced Independent Directors Maurice Dijols Sergey Generalov Dmitry Lipyavko Non-Executive Director Non-executive Director, Chairman Independent Director Holds…
  31. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 31
    Appendix B: FY 2013 Detailed Financial Exhibits 32 www.igseis.com
  32. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 32
    Detailed Financials IG Seismic Service Plc Interim Consolidated Statements of Comprehensive Income (audited) 000 USD 2013 FY 2012 FY 000 RUB 2013 FY 2012 FY Revenue 607,246 608,482 Revenue 19,339,571 18,919,531 Cost of Sales (477,076)…
  33. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 33
    Detailed Financials IG Seismic Service Plc Interim Consolidated Statement of Financial Position (audited) 000 USD 31 December 2013 31 December 2012 000 RUB 31 December 2013 31 December 2012 Assets Assets Cash and Cash Equivalents 21,735…
  34. FULL YEAR 2013 RESULTS – Ig Seismic Services Plc – slide 34
    IG Seismic Service Plc Interim Consolidated Statement of Cash flows (audited) Detailed Financials For 12 months ended For 12 months ended 31 December 31 December 31 December 31 December 000 USD 000 RUB 2013 2012 2013 2012 Cash flow…

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