Dolphin enters the 4D production seismic market and successfully launch the Sanco Swift Corporate Presentation 21st August 2013 Unaudited 2nd quarter and half year 2013 Financial Result By Atle Jacobsen (CEO) & Erik Hokholt (CFO)
Table of contents I. Highlights and financials for Q2 2013 II. Company overview III. Market update 3
Atle Jacobsen, Dolphin Group CEO, commented for Q2 Dolphins current fleet of four vessels delivered revenues of USD 68 million, a respective operating margin of 20% and a pre-tax profit of USD 10.5 million for second quarter of 2013.…
HIGHLIGHTS QUARTERLY HIGHLIGHTS Q2 2013 Revenues of USD 68.4 million, compared to USD 50.0 million in Q2 2012 EBITDA of USD 23.3 million (34,1%), compared to USD 23.0 million in Q2 2012 EBIT of USD 13.7 million (20,1%), compared to USD…
Dolphin financials - quarterly developments (USDmillion) Q2 - Revenues of USD 68.4 million, compared to USD 50.0 million in Q2 2012 Q2 - EBITDA of USD 23.3 million (34,1%), compared to USD 23.0 million in Q2 2012 Q2 - EBIT of USD…
Continued high contract revenues and low Multi-Client investments for Q2 2013 Quarterly revenue split Revenue 30.1 34.6 50.1 61.2 75.5 69.2 68.4 (USDm) 100% 4% 1% 1% 2% Other 14% 10% 11% 11% 90% 13% 32% 26% Multi-Client 80% 70%…
Significant growth in Revenues and profit YoY Key Financials Figures Q2 and half year 2013 results Q2 2013 Q2 2012 YTD 2013 YTD 2012 Year 2012 Significant growth YoY Amount in USD million Q2 Net expense of transit Net operating…
Distribution of revenues and Multi-Client library performance Q2 stable and disciplined MCS pre-funding at 81% Q2 late sales low, due to late announced 22 round in Norway and delay of potential Lebanon sales Dolphin processing -…
Dolphin Multi-Client seismic data assets - BV of USD 46 million 50 Library book value 46 45 41 39 40 37 35 30 25 21 Attractive Multi-Client library, built on limited 20 cash-investments 15 13 9 10 3 6 Healthy balance between…
Dolphin has a history of strong value creation Dec 2010: Oct 2011: Feb 2013: Private Placement Private Placement Private Placement NOK 391m at NOK 2.5 NOK 215m at NOK 3.0 NOK 226m at NOK 7.4 Strong value creation, executing on 3,000…
Table of contents I. Highlights and Financials for Q2 2013 II. Company overview III. Market update 12
Dolphin Group at a glance A full service marine geophysical company providing high quality: Contract seismic Multi-Client Processing Long term charter of a fleet of eight seismic vessels: Long term charter of seven modern 3D…
Focus on operational efficiency and shareholder value Business Strategy Position Dolphin as a pure play exposure to the seismic market through Pure play seismic contract seismic, Multi-Client and seismic data processing market exposure…
Dolphin Group Business segments MARINE MULTI-CLIENT PROCESSING EXPANDING MODERN FLEET GROWING MULTI-CLIENT FULL ONSHORE AND OFFSHORE DATA LIBRARY PROCESSING SERVICE In production Library of modern 2D and In house software…
Our high-end 3D capacity more than doubles within 12 months ILLUSTRATIVE Revenues USD million Revenues SuperDuke (Mar 15) are growing with an Sanco Sword (Mar 14) expanding fleet Geo Atlantic (Jan 14) 300 Sanco Swift (Jul…
Four high-end 3D seismic vessels to be delivered in 2013-2015 complementing one of the industrys most modern fleets Artemis Atlantic (2D) Polar Duchess (3D, 12-14 str) Sanco Swift (3D, 16 str) Sanco Sword (3D, 16 str) Delivered May…
One of the most modern fleets in the seismic industry Age distribution of marine seismic 3D fleet (including newbuild orders) 2010 2011 2012 2013 2014 2015 2014 2012 2010 2008 2006 Median fleet age (including newbuild orders) :…
Swiftly into operation Sanco Swift delivered to owners Sanco Shipping from Kleven Yard end July 2013 Entered 5 year firm CP period with Dolphin Geophysical end July 2013 Entered into production for client West of Shetland 7th…
Q2 Vessel schedule (for illustration purposes) Vessel JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC FEB MAR Polar Duke North Sea Polar Duchess South Africa Artemis Arctic North Africa North Sea Undisclosed for competitive reasons…
Current Geographic presence all positioned in the North Sea Artemis Atlantic (contract) Barents Sea 2,000 km2 3D MC WoS/Faroes Polar Duchess Artemis Arctic (MC) North Sea 2,050 km 2D MC (contract) Bergen 4,000 km2 3D MC Sanco…
Multi-Client status Commenced UtStord MC 3D in Norwegian North Sea with high level of pre-funding. Survey to over 4,550km and Covers APA Round acreage Acquired first 2D SHarp BroadBand MC Regional Well- Tie survey WoS/FaroesCovers…
Multi-Client - new projects started in Q2 UtStord MC 3D Norwegian North Sea Conformable 3D coverage of 4,550 km Fast-Track delivered over APA blocks prior to application deadline Multiple geological targets The Johan Sverdrup field…
Processing status Financials External revenue inline with Q1 Revenue shift towards Multi-Client (internal) and this will continue in Q3 Q3 and Q4 backlog secured Software sales UK processing centre 2 new customers for v3.0 of…
Table of contents I. Highlights and financials for Q2 2013 II. Company overview III. Market update IV. Market update V. Market update 25
Streamer steering litigation WesternGeco v.s. Ion & Fugro August 2012 U.S. jury award of USD 106 million for infringement based on design and operation of DigiFIN Fugro settlement/license Digifin, Ion WesternGeco v.s. Polarcus…
2013 - 2014 Global market outlook Dolphin are registered with all oil companies and tender backlog is twice the volume last year - more than USD 800 million India - market showing slight increase y-o-y East Africa - same market as…
Questions and Answer Session Questions and Answer Session
Dolphin - assumptions and guidance for 2013 (unchanged from release 8th January) New Vessel capacity to be delivered on time and budget Sanco Swift (3D, 14-16 str.) expected on TC, end July 2013 Geo Atlantic (3D, 12-14 str.) expected…
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Dolphin time-charter commitments culminated in 2012 Minimum operational leasing obligations *) 353 251 *) Including all operating seismic vessels and the new committed vessels; Geo Atlantic, Sanco Sword and Super Duke…
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