Skip to main content FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa | Shale Experts
Loading...
Pm

FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa

Solstad Offshore Asa · Feb 25, 2015 · 21 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. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 1
    SOLSTAD OFFSHORE ASA Company Presentation 25 February 2015 By Lars Peder Solstad & Sven Stakkestad
  2. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 2
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 2
  3. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 3
    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…
  4. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 4
    SOLSTAD OFFSHORE HIGHLIGHTS 31.12.14 Good earning Major transactions 2014 margins and stable Delivery underlying of two CSVs Normand Reach and Normand Vision - both commenced long term contracts values Incrased ownership to 100% in…
  5. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 5
    SOLSTAD OFFSHORE HIGHLIGHTS 31.12.14 Good earning Operational margins & Commercial highlights 4Q 2014 and stable Increased underlying values NS spot exposure during quarter Norce Endeavour ended seasonal contract with Chevron,…
  6. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 6
    THE SOLSTAD OFFSHORE FLEET 46 VESSELS IN OPERATION AS PER 24. February 2015 Vessels: 16 Newbuild: 1 Skudeneshavn Aberdeen Vessels: 3 Vessels: 2 Vessels: 5 Manila Kuala Lumpur Singapore Vessels: 3 Vessels: 6 Singapore…
  7. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 7
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 7
  8. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 8
    OPERATING REVENUE AND EBITDA (ADJ.) (EX. GAIN / LOSS ON SALE OF ASSET / INCL. SHARE IN JVs) 1200 60% 1100 1000 50% 900 800 40% 700 EBITDA % NOK mill 600 30% 500 400 20% 300 200 10% 100 0 0% 1Q 12 2Q 12…
  9. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 9
    PROFIT & LOSS ACCOUNTS 31. December 2014 4Q 4Q 2014 2013 (Mill NOK) 2014 2013 31.12 31.12 Total Operating Income (1) 1 019 896 3 880 3 637 Operating expenses (620) (569) (2 241) (2 140) Ord. Depreciation (127) (101) (462) (431) Joint…
  10. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 10
    BALANCE 31. December 2014 2014 2013 (Mill NOK) 31.12 31.12 Long Term fixed assets 15 291 12 740 Current assets (1) 2 471 2 285 Total assets 17 762 15 025 Equity 5 124 4 954 Long Term liabilites 10 653 7 807 Current liabilites…
  11. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 11
    SOLSTAD OFFSHORE ASA - VALUES & DIVIDEND 180,0 6,00 160,0 5,00 140,0 120,0 4,00 NOK Dividend per Share Values per share in NOK 100,0 3,00 80,0 60,0 2,00 40,0 1,00 20,0 0,0 0,00 2007 2008 2009…
  12. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 12
    STRONG VALUE SUPPORT & SOLID DEBT SERVICE CAPACITY* Broker values vs. debt 31.12.14 (NOK bn) Loan to value end 31.12.14 (%) Debt / EBITDA (31.12.14 figures) ** Comments: * Including SOFFs relative shares in JVs (debt, vessel…
  13. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 13
    CONTRACT COVERAGE & REPAYMENT OVERVIEW Secured contract coverage and forthcoming Installments and Balloons Contract coverage % of available days 15 18 Contract coverage 15 17 in NOK Instalments and Balloons incl. 50% of JVs 13
  14. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 14
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 14
  15. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 15
    THE SOLSTAD FLEET MARKET SEGMENTS 1)Based on broker valuations as of 31.12.2014 (incl. SOFFs 50% share in Normand Installer and Normand Oceanic
  16. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 16
    CSV SEGMENT General comments Subsea market driven by solid fundamentals, but challenging markets ahead The large subsea players have substantial backlog, but book to bill on a low level World wide subsea activity level still OK in 15,…
  17. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 17
    AHTS SEGMENT General comments Volatile market conditions Dependent on future rig activity and that Petrobras start contracting again. Will rigs be renegotiated and kept or will they be redelivered Large number of DW rigs to be…
  18. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 18
    PSV SEGMENT General comments Activity level is quite high, but segment is oversupplied Demand will rise as new drilling rigs and production units begin their operations Still many new vessels under construction, and entry…
  19. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 19
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 19
  20. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 20
    FUTURE OUTLOOK Our solid contract coverage gives us good visibility for 15 and partly for 16 We will continue to focus on long term contracts for our CSV fleet to achieve predictable EBITDA Sale of older vessels to continue…
  21. FEBRUARY 2015 COMPANY PRESENTATION – Solstad Offshore Asa – slide 21

From the store

Browse maps, data & reports in the Shale Experts store