BW OFFSHORE Q3 2013 presentation CEO Carl K. Arnet CFO Knut R. Sthre Photo credit: Petrobras news agency
Highlights Q3 2013 EBITDA Stable operations with an uptime of 99.4% USD million EBITDA of USD 115.5 million 140.0 Reported One-offs FPSO P-63 starts production at Papa Terra 120.0 field 11 November Dividend of USD 0.03 per share…
OPERATIONS
Operational highlights HSSEQ performance Uptime Lost time injuries (LTI*) of 0.47 100% Fleet uptime 99.4% in Q3 2013 95% Five year average of 98.3% 90% BW Offshore has received a notice of early 85% termination from Murphy to be…
Fleet overview U nit T yp e C o nt r act 2009 2 0 10 2 0 11 2 0 12 2 0 13 2 0 14 2 0 15 2 0 16 2 0 17 2 0 18 2 0 19 2020 2021 2022 2023 2024 2025 Sendje Berge FPSO Lease & Operate Addax/Sinopec, Nigeria: 2005-2014 Berge Helene FPSO…
FPSO P-63 in production First oil on 11 November Technical specifications Project milestones Hull length: 340 m hull Accomodation: 110 people Signed contract in January 2010 Total topside weight 18,500 tons Sail-away from Cosco…
FINANCIALS
Financials Net debt and equity ratio EBITDA of USD 115.5 million USD million and percentage Total equity of USD 1,141 million Net debt (USD mill, LHS) Equity ratio (RHS) 2 000 40% Equity ratio 34.3% 1 800 35% Quarterly dividend…
Income statement USD million Q3 2013 Q2 2013 YTD 2013 Operating revenues 238.4 255.1 715.7 Operating expenses -123.0 -147.7 -376.2 Share of profit from associates 0.1 0.3 0.7 EBITDA 115.5 107.7 340.2 Depreciation -66.5 -65.5 -196.3…
Statement of financial position USD million 30.09.2013 30.06.2013 31.12.2012 Total non-current assets 2,946.9 2,984.7 3,084.5 Total current assets 382.5 381.7 339.2 Total assets 3,329.4 3,366.4 3,423.7 Total equity 1,141.4 1,143.0…
Financial strength Gross debt of USD 1,741 million Net debt of USD 1,629 million Available liquidity of USD 400 million in November 2013 Financial capacity to take on a new lease project Fully financed by existing liquidity and new…
Orderbook Orderbook of USD 7.0 billion as of 30 Total orderbook and clients September 2013 Whereof USD 3.5 billion are firm contracts Option years for Azurite removed from orderbook Long term lease contracts with solid 28%…
FUTURE
Global footprint Belokamenka BW Athena BW Pioneer Yum KakNab BW Cidade de So Vicente BW Joko Tole Cidade de So Mateus Umuroa Polvo P-63* Espoir Ivoirien Berge Helene Sendje Berge Units Offices * O&M Peregrino**…
Current priorities Project opportunities Catcher Kudu New tenders and FEED studies Conclude long term extension contracts for Sendje Berge and Abo Execute life extension programs in line with plans Start work on Azurite…
Q&A
Further information: www.bwoffshore.com IR contact: Kristian Flaten, Vice President IR and Corporate Finance kristian.flatenbwoffshore.com 21 November 2013 18
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