Agenda Introduction Financial results Projects and operations Outlook Attachments 3
Recent Prosafe developments Record high financial results Vessel utilisation rate of 91 per cent in Q3 10 out of 11 vessels in full operation during the quarter Letter of Intent for two new accommodation vessels Positive…
Agenda Introduction Financial results Projects and operations Outlook Attachments 5
Operating revenues (USD million) Q3 13 Q2 13 Q3 12 9M 2013 9M 2012 Charter income 146.0 127.5 111.7 348.8 329.9 Mob/demob income 0.0 3.7 0.0 5.4 2.0 Gain on sale of Safe Esbjerg 0.0 0.0 4.8 0.0 4.8 Other income 13.4 12.3 25.8 34.5…
Steady growth in dividend Dividend payments 0,7 0,6 +13% An interim dividend 0,6 Q4 +11% equivalent to USD 0.15 0,5 Q4 per share declared Q4 0,5 0,4 Q4 The shares will trade Q4 Q3 USD per share +70% ex-dividend on 13…
New bond loan issued NOK 700 million bond loan issued on 9 October 5 years maturity Interest rate of 3-months NIBOR + 2.95 per cent Lowest margin in the Norwegian high-yield market since 2008 Oversubscribed Enhances growth…
Agenda Introduction Financial results Projects and operations Outlook Attachments 12
LoI for two new accommodation vessels LoI with COSCO Qidong for two semi-submersible accommodation vessels The most advanced and flexible units for worldwide operations excluding Norway Ready for operations in 2016 LoI covers two…
Two new vessels key specifications Design: Gusto MSC Ocean 500 Cabins: 28 single, 236 double Total accommodation capacity: 500 persons Air gap survival mode: 14.0 meters Air gap operational mode: 7.5-10.0 meters Operating…
Safe Boreas progress Semi-submersible to be built as NCS compliant/ harsh environment DP3 and 12-point mooring Scheduled delivery from yard end of Q3 2014 First contract (six-month plus options) with Lundin for hook-up of Edvard…
Safe Zephyrus progress Semi-submersible to be built as NCS compliant/ harsh environment DP3 and 12-point mooring Ready for operations in the North Sea in the summer season of 2015 Contract in 2016 with Statoil for Mariner in the…
Capital expenditure 2013 USD 130-150 million of which about USD 90 million capitalised in Q1/Q2/Q3 2013 Major items Safe Caledonia completion Safe Scandinavia SPS, mooring winches and life extension Regalia SPS and…
Safe Scandinavia SPS and life extension Some scope added to aim for 20 years life extension Take advantage of rare three-month yard period Fatigue life enhancement New cranes, 2 x Liebherr Upgrade mooring system New and stronger…
Large and versatile North Sea fleet in good condition Safe Boreas new build Safe Zephyrus new build Safe TBN 1 new build Safe TBN 2 new build Safe Scandinavia life extension in 2014 (20 years) Safe Caledonia life extension in…
Agenda Introduction Financial results Projects and operations Outlook Attachments 24
Clear market leader in the high-end segment No. of accommodation semis by owner* No. of accommodation semis by regional capabilites* 32 32 30 Axis Off. 30 28 28 Jasper 26 26 24 CIMC 24 22 22 20 ETESCO 20 Rest of World 18 FOE 18 16 16…
Fleet growth in offshore oil services Fleet development in selected offshore oil services segments 330 Fleet growth (indexed, 2007 fleet set to 100) 280 230 180 130 80 2007 2008 2009 2010 2011 2012 2013 2014 2015…
North Sea demand index shows robust demand North Sea accommodation rig demand index Increase in demand 120 related to hook-up and 106 112 110 103 commissioning work 100 101100 99 100 90 91 90 Driven by exploration 90 87 81…
North Sea dayrates (time charter) 28
Mexico - stable demand outlook Pemex appears to still require a substantial amount of beds offshore Currently accommodation vessels in operation at the Cantarell field and adjacent areas Longer-term it is anticipated that there…
Gulf of Mexico dayrates (bareboat) 30
Brazil growth market Long-term requirements, mainly driven by maintenance Hook-up work can appear longer term Currently eight different types of units in operation All vessels required so far have gone to the Campos basin Campos…
Rest of the world interesting opportunities Australia Several contract awards at attractive economics lately Interesting prospects still in the pipeline South East Asia Dominated by barges due to benign weather Some demand for…
Rest of world dayrates (time charter) 33
Prosafe in strong competitive position Well positioned to meet a potential increase in competition, having by far the longest operational and HSE track-record the largest and most versatile fleet the most efficient cost and…
Summary Record high results Strong order book Positive outlook Continued growth combined with high dividends Prosafe is well positioned Clear market leader High-quality, diversified fleet with growth in the high-end segment…
Agenda Introduction Financial results Projects and operations Outlook Attachments 36
Credit facility Total commitments end of Q3 2013: USD 791 million Maturity: August 2017 The current applicable credit margin on the credit facility is 1.875% The availability under the credit facility is reduced semi-annually with…
Safe Zephyrus and Safe Boreas financing USD 420 million term loan for post delivery financing of Safe Boreas and Safe Zephyrus in place Tenor is five years Repayment profile is 12 years Interest rate of USD 3-month LIBOR plus 2.95…
Current bond loan portfolio Bond loans Outstanding Maturity Margin PRS07 NOK 500 million bond (2011-16) NOK 500 million Q1 2016 350 bps PRS08 NOK 500 million bond (2012-17) NOK 500 million Q1 2017 375 bps PRS09 NOK 500 million bond…
Shareholders SHAREHOLDERS AS AT 04.11.2013 No. of shares Ownership State Street Bank & Trust (nom) 32 562 700 13.8 % Folketrygdfondet 17 489 519 7.4 % State Street Bank & Trust (nom) 17 923 937 7.6 % Pareto 8 729 861 3.7 % Clearstream…
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