SOLSTAD OFFSHORE ASA Company Presentation 11 November 2014 By Lars Peder Solstad & Sven Stakkestad
AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 2
SOLSTAD OFFSHORE IN BRIEF Key facts Fleet overview Founded in 1964. In the offshore segment since 1973 Weighted New Segments Current Fleet Average Operations worldwide North Sea, Brazil, US Gulf, buildings Age 1) West Africa, Asia…
SOLSTAD OFFSHORE - HIGHLIGHTS 30.09.2014 Financial & Operational Highlights All time high net revenues of NOK 1.127 mill Adjusted EBITDA NOK 583 mill / Adjusted EBITDA margin 50% Strong operational performance in the CSV segment…
THE SOLSTAD OFFSHORE FLEET 47 VESSELS IN OPERATION AS PER 11. Novmeber 2014 Vessels: 20 Newbuild: 1 Skudeneshavn Aberdeen Vessels: 3 Vessels: 3 Vessels: 5 Manila Kuala Lumpur Singapore Vessels: 1 Vessels: 6 Rio de…
AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 6
OPERATING REVENUE AND EBITDA (EX. GAIN / LOSS ON SALE OF ASSET / INCL. SHARE IN JVs) 1400 60% 1200 50% 1000 40% 800 EBITDA % NOK mill 30% 600 20% 400 10% 200 0 0% 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q…
PROFIT & LOSS ACCOUNTS 30. September 2014 3Q 3Q 2014 2013 Total (Mill NOK) 2014 2013 30.09 30.09 2013 Total Operating Income (1) 1 127 991 2 862 2 741 3 637 Operating expenses (571) (510) (1 610) (1 571) (2 140) Ord. Depreciation…
BALANCE 30. September 2014 2014 2013 2013 (Mill NOK) 30.09 30.09 31.12 Long Term fixed assets 14 905 13 227 12 740 Current assets 2 500 2 123 2 285 Total assets 17 405 15 350 15 025 Equity 5 317 4 925 4 954 Long Term…
SOLSTAD OFFSHORE ASA - VALUES & DIVIDEND
AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 11
THE SOLSTAD FLEET MARKET SEGMENTS 1)Basedon broker valuations as of 30.06.2014 (incl. Normand Vision delivered 02.07.14) and SOFFs 50% share in Normand Installer and Normand Oceanic
CSV SEGMENT General comments Subsea market driven by solid fundamentals The large subsea players have substantial backlog World wide subsea activity, still at a high level But, some projects are being postponed Still long-term…
AHTS SEGMENT General comments Strong activity and healthy rates in the North Sea spot-market from August and onwards. Positive medium to long term outlook, However; Lay-up/Suspensions of rigs Large number of DW rigs to be delivered…
PSV SEGMENT General comments Slower spot-market in the North Sea than expected. Activity level is high Active tendering activity for medium and long-term work Several new companies and the total number of vessels, put pressure on…
AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 16
FUTURE OUTLOOK The long-term demand for CSVs is expected to continue to be strong as a consequence of high subsea activity Focus on longer term contracts for our CSV fleet to achieve predictable EBITDA The combination of long…
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