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Q3 2011 REPORT – Polarcus

Polarcus · Nov 2, 2011 · 19 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. Q3 2011 REPORT – Polarcus – slide 1
    Polarcus Limited Dubai, UAE Rolf Ronningen, CEO Tom Henrik Sundby, CFO www.polarcus.com 1
  2. Q3 2011 REPORT – Polarcus – slide 2
    Highlights Q3 2011 Revenue USD 79.8 million, up 159% from Q3 2010 EBITDA USD 23.9 million, up 181% from Q3 2010 EBIT USD 4.6 million, up 100% from Q3 2010 Net cash flow from operating activities USD 35.6 million Strong launch…
  3. Q3 2011 REPORT – Polarcus – slide 3
    Agenda 1 Financials 2 Operations & Market update 3 Summary 4 Q&A www.polarcus.com 4
  4. Q3 2011 REPORT – Polarcus – slide 4
    Financial highlights 140,0 122,7 Revenue USD 79.8 million 120,0 EBITDA USD 23.9 million, 100,0 30% margin 79,8 USD millions 80,0 EBIT USD 4.6 million, 6% margin 60,0 Net cash flow from operating 40,0 activities USD…
  5. Q3 2011 REPORT – Polarcus – slide 5
    Consolidated income statement Quarter ended Nine months ended Year ended 30-Sep-11 30-Sep-10 30-Sep-11 30-Sep-10 31-Dec-10 (In thousands of USD) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Revenues Operating revenues…
  6. Q3 2011 REPORT – Polarcus – slide 6
    Key financials Quarter ended Nine months ended Year end (In USD millions) 30-Sep-11 30-Sep-10 30-Sep-11 30-Sep-10 2010 Revenues 79.8 30.8 193.7 66.4 122.7 Vessel operating expenses (46.3) (16.0) (122.5) (39.7) (67.1) EBITDA 23.9…
  7. Q3 2011 REPORT – Polarcus – slide 7
    Improved financial position Total financing of USD 1.45 billion 1600 secured 1400 New fleet bank facility of USD 410 1200 410 million secured in the quarter 40 Bank loan 1000 Unsecured Bonds 180 Subsequent to the quarter,…
  8. Q3 2011 REPORT – Polarcus – slide 8
    Share information Share Performance Top 20 Shareholders (as per 25 Oct) Shareholder Share % 9,00 120 DRYDOCKS WORLD LLC 37,500,000 9.15 AWILCO INVEST AS 28,500,000 6.96 8,00 ZICKERMAN HOLDING LT (share lending activity) 27,994,851…
  9. Q3 2011 REPORT – Polarcus – slide 9
    Agenda 1 Financials 2 Operations & Market update 3 Summary 4 Q&A www.polarcus.com 10
  10. Q3 2011 REPORT – Polarcus – slide 10
    Operational highlights POLARCUS AMANI POLARCUS ADIRA POLARCUS SAMUR All vessels delivering solid performance V. Tikhonov Utilization held back by two long range transits POLARCUS NAILA First surveys for Statoil and…
  11. Q3 2011 REPORT – Polarcus – slide 11
    Multi-Client highlights Successful expansion into multi-client Bjarmeland MC Project Two significant projects totaling over 3,100 sq. km Catcher MC Project Prefunding well above 100% of MC cash investments 45% amortization…
  12. Q3 2011 REPORT – Polarcus – slide 12
    Delivering quality by design RightPlan provides significant results for seismic data quality Focus on holistic geophysical planning to determine optimal acquisition parameters Multiple survey design projects ongoing Polarcus…
  13. Q3 2011 REPORT – Polarcus – slide 13
    Extended backlog into Q1 2012 Vessel 2011 2012 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun POLARCUS NADIA POLARCUS NAILA POLARUCS ASIMA Average fleet backlog POLARCUS ALIMA POLARCUS SAMUR V. TIKHONOV…
  14. Q3 2011 REPORT – Polarcus – slide 14
    Pole position for Russia Strategic alliance with Sovcomflot, Russia's largest investment grade shipping company that aspires to broaden focus into energy supply Specialists in harsh environments and with a strategic focus on the…
  15. Q3 2011 REPORT – Polarcus – slide 15
    Expanding into new markets Russian Arctic North West Europe 1.2 million km of potentially energy-rich Approx. same size as Russian Arctic and Arctic territory has zero 3D absorbed 22 3D vessels last summer season www.polarcus.com…
  16. Q3 2011 REPORT – Polarcus – slide 16
    Limited supply growth Estimated Market Share 2013 (by vessels) Fugro Polarcus Estimated Supply Growth, by 3D vessels1 12% 12% (6 streamer + seismic fleet) BGP CGG 3% 60 65 66 58 24% Dolphin 55 6% excludes COSL (3 vessels) &…
  17. Q3 2011 REPORT – Polarcus – slide 17
    Polarcus new build vessels on time on budget Polarcus Amani Delivery Q1 2012 Polarcus Adira Delivery Q2 2012 Type: 3D vessel Design: ULSTEIN SX134 Length: (loa) 92.0m Beam: 21.0m Streamer capacity: 12-14 Speed 16.0 knots…
  18. Q3 2011 REPORT – Polarcus – slide 18
    Agenda 1 Financials 2 Operations & Market update 3 Summary 4 Q&A www.polarcus.com 19
  19. Q3 2011 REPORT – Polarcus – slide 19
    Summary & Q&A Delivered strong growth and business expansion Robust operational performance Successful launch of multi-client business Fleet backlog extended and operational footprint expanded into APAC and NSA…

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