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H1 2013 EARNINGS CALL – Ig Seismic Services Plc

Ig Seismic Services Plc · Sep 19, 2013 · 32 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. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 1
    IG Seismic Services: 1H 2013 Results Conference Call Presentation Based on unaudited 1H 2013 IFRS financial results 19 September 2013 1 www.igseis.com
  2. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 2
    Agenda Slide 4 Company Overview Slide 9 1H 2013 Highlights and Recent Events Slide 11 1H 2013 Financial Results Slide 18 Order Book Overview Slide 19 Russian Seismic Market Overview Slide 20 Appendix A. Corporate Governance and IGSS…
  3. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 3
    1. Company Overview (1/5) 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…
  4. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 4
    1. Company Overview (2/5) The Leading Pure-play Land & Transition Zone Seismic Company in Russia & the CIS Number of Crews in Russia The largest seismic business in Russia (1) Units Bases and data processing facilities in all the…
  5. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 5
    1. Company Overview (3/5) 12 December 2012 Stock Performance IGSS GDRs commence 18 September 2013 trading at LSE Main Market The issued share capital of IGSS: 20,833,400 shares Nominal value: US 0.01 per share 1 GDRs = 2 ordinary…
  6. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 6
    1. Company Overview (4/5) Geographic Footprint as of 30 June 2013 Key Hydrocarbon Provinces 75 crews* Timano-Pechora Operational Bases / Production Facilities Field Seismic Crews 12 28 operational bases DPI Facilities Operational…
  7. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 7
    1. Company Overview (5/5) Diversified and Blue Chip Customer Base Key Clients Diversified customer base Strong relationships with all the key customers for seismic services including local NOCs, IOCs, international consortia and…
  8. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 8
    2. 1H 2013 Highlights and Recent Events (1/2) Key Performance Results Revenue EBITDA & EBITDA Margin Net Profit US MM US MM US MM 600 150 - 11.7% + 11.8% 5 500 2.6 391.5 + 450 bp 400 345.5 100 300 66.5 74.3 (1.4) 0 200 50 17.0%…
  9. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 9
    2. 1H 2013 Highlights and Recent Events (2/2) Major Events since the Beginning of 2013 First Season of the First UniQ Technology Project IGSS successfully conducted the first season on the project at Vakunayskiy oilfield license area…
  10. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 10
    3. 1H 2013 Financial Results (1/7) Key Financial Highlights 000 US 1H2013 1H2012 Change, % Revenue 345,536 391,487 -11.7% EBITDA 74,312 66,478 11.8% EBITDA Margin, % 21.5% 17.0% 450 bp Net Profit/ (Loss) 2,554 (1,352) -…
  11. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 11
    3. 1H 2013 Financial Results (2/7) Revenue Analysis Revenue by geographical areas Revenue by types of services US MM US - 12.5% 1H 2012 Processing and interpretation Other revenue Field seismic operations 1H 2013 400 381.6 391.5…
  12. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 12
    3. 1H 2013 Financial Results (3/7) Cost Analysis 1H2012 Revenue to Operating Profit Bridge 1H2013 Revenue to Operating Profit Bridge US MM US MM 391.5 (329.9) 345.5 (273.1) (34.1) (33.9) (8.6) (5.7) 32.8 18.8 Revenue Cost…
  13. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 13
    3. 1H 2013 Financial Results (4/7) Adjusted* EBITDA to Net Income Bridges 1H2013 Adjusted* EBITDA to Net Income Bridge US MM Notes: 100 Positive 4.2MM change in 74.3 (37.2) Net Profit in 1H2013 vs. 1H2012 is a result of the 50 37.1…
  14. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 14
    3. 1H 2013 Financial Results (5/7) Adjusted* EBITDA to Free Cash Flow Bridges 1H2013 Adjusted* EBITDA to Free Cash Flow Bridge US MM Notes: Favorable effect on Free 200 Cash Flow is due to the 83.2 152.7 (52.5) 150 following factors…
  15. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 15
    3. 1H 2013 Financial Results (6/7) CAPEX Analysis Capital expenditures consist primarily of Capital Expenditures US MM purchases of equipment used in the operations, repayment of liabilities under finance lease + 120% agreements…
  16. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 16
    3. 1H 2013 Financial Results (7/7) Debt Position IGSS committed to conservative financial policy Debt Breakdown by Short Term and Long Term Largely RUB denominated debt, to match cash flows US MM Relationships with wide range of…
  17. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 17
    4. Order Book Overview Order Book Dynamics As of September 13, 2013, the Companys seismic Order Book as of 13 September 2013 (1)(2) services order book amounted to approximately US MM US 809 million, of which approx. US 607 million…
  18. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 18
    5. Russian Seismic Market Overview Robust Growth Expected in Near Term Key Market Trends Strong Forecast Growth in Russian Seismic Market 000 shot points Strong demand outlook both in greenfield and 1 brownfield 10 000 Strong growth…
  19. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 19
    6. Appendix A: Corporate Governance 20 www.igseis.com
  20. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 20
    6.Corporate Governance - Board of Directors Cumulative voting 4 experienced Independent Directors BOD is chaired by Independent Director Maurice Dijols Dmitry Lipyavko Sergey Generalov Non-Executive Director Independent Director…
  21. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 21
    6.History of Group Structure Current group structure was created on 30 December Shareholder Structure Before Listing 2011 as a result of the transaction to combine Russia & Schlumberger CIS seismic assets of the three leading…
  22. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 22
    6.History of IGSS December 2011 Combination of 2006 2008-2009 2010 2011 Integra and Geotech Geotech formed Geotech significantly Volga Geotech Seismic Assets under IGSS through acquisition expands its operations to Resources…
  23. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 23
    7. Appendix B: Detailed financial exhibits 24 www.igseis.com
  24. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 24
    Detailed Financials IG Seismic Service Plc Interim Consolidated Statements of Comprehensive Income (unaudited) 000 USD 1H 2013 1H 2012 000 RUR 1H 2013 1H 2012 Revenue 345,536 391,487 Revenue 10,716,212 11,994,770 Cost of Sales…
  25. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 25
    Detailed Financials IG Seismic Service Plc Interim Consolidated Statement of Financial Position (unaudited) 000 USD As at 30 June 2013 As at 31 December 2012 000 RUR As at 30 June 2013 As at 31 December 2012 Assets Assets Cash and Cash…
  26. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 26
    Detailed Financials IG Seismic Service Plc Interim Consolidated Statement of Cash flows (unaudited) For six months ended For six months ended 000 USD 30 June 2013 30 June 2012 000 RUR 30 June 2013 30 June 2012 Cash flow from operating…
  27. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 27
    8. Appendix C: Russian Seismic Market Overview 28 www.igseis.com
  28. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 28
    8. Russian Seismic Market Overview (1/5) 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…
  29. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 29
    8. Russian Seismic Market Overview (2/5) 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…
  30. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 30
    8. Russian Seismic Market Overview (3/5) Oil Extraction Increasingly Complex Oil extraction becoming more complex with only 31% of Russian recoverable reserves characterized as Structure of Recoverable Reserves in Russia…
  31. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 31
    8. Russian Seismic Market Overview(4/5) Maintaining Production Key Priority for Russian Government Russia Oil Production MM Tonnes Maintaining or growing production at the rates 600 518 512 491 489 494 505 envisaged by the…
  32. H1 2013 EARNINGS CALL – Ig Seismic Services Plc – slide 32
    8. Russian Seismic Market Overview (5/5) Strong Demand Growth for High Tech / High Density Surveys Upside to Global Market Standards Strong growth in 3D activity in recent years as producers units seek to optimise development and…

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