DOF ASA Q1 2010 CEO Mons S. Aase CFO Hilde Drnen The New Horizon DOF ASA PRESENTATION Q4 2009
Agenda Highlights Overview Brazil Special Q1 Financial Outlook The New Horizon DOF ASA PRESENTATION Q1 2010 - 2
Highlights Q1 Skandi Santos on contract end February Skandi Aker delivered, on hire 1st February LOI signed with OGX for Skandi Emerald (Feb 2010) Skandi Stolmen on contract Sale of Geo Challenger Delivery of Skandi Olympia, on…
Company overview DOF ASA DOF Subsea Ship owning Norskan Holding company 100% 51% 50-100% Modern fleet Modern fleet 9 AHTSs 8 AHTSs 8 PSVs 13 PSVs 2 CSV 2 CSV DOF Installer DOF Subsea 67% 100% 3 state of the art…
The fleet market segments PSV AHTS ROV/OCSV/DSV/ Total fleet No. of vessels SEISMIC VESSELS DOF ASA 13 3 2 18 NORSKAN OFFSHORE 8 9 2 19 DOF SUBSEA AS 0 0 21 21 DOF INSTALLER ASA 0 3 0 3 AKER DOF DEEPWATER AS 0 5 0 5…
GLOBAL PLAYER Bergen Austevoll Aberdeen St. Petersburg St. Johns Cairo Houston Manila Singapore Brunei Jakarta Macae Angola Rio de Janeiro Perth Buenos Aires GEOGRAPHICAL FOCUS AREAS The New Horizon DOF…
DOF Contract Coverage (PSV) PSV Area of Operation Charterer 2010 2011 2012 J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D 1 Skandi Falcon India Reliance 2 Skandi Marstein North Sea Shell UK 3 Skandi Foula North…
DOF Contract Coverage (AHTS + CSV) AHTS Area of Operation Charterer 2010 2011 2012 J F MA M J J A S O N D J F MA M J J A S O N D J F MA M J J A S O N D 1 Skandi Stord North Sea Statoil 2 Skandi Admiral North Sea Statoil Spot 3…
DOF Contract Coverage (vessels under construction) DOF Installer ASA - 67% DOF Subsea AS Vessel Name Type Owner Charterer Delivery 2010 2011 2012 J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D 1 Skandi Sko lten (A H…
DOF Subsea Contract Coverage (Vessels) 2010 2011 2012 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Geobay Geosounder LAYUP Geograph Skandi Bergen DOF Subsea…
DOF Subsea : ROV - and other major contracts FIRM CONTRACTS OPTIONAL PERIOD The New Horizon DOF ASA PRESENTATION Q1 2010 - 11
Brazil Special DOF ASA PRESENTATION Q1 2010 - 12
Key-Milestones Norskan Norskan JV with Solstad established in 2001 DOF acquired 100% of the shares in Norskan in Dec 2006 Norskan took delivery of 6 vessels during 2003-2007 Norskan contracted 3 new-building contracts at STX in…
DOF / Norskan /DOF Subsea Contracts in Brazil 2010 2011 2012 Vessel Type Built Finance Flag Charterer Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1 Skandi Leblon PSV 2003 FMM/BNDES BRA B SHELL 2 Skandi Flamengo P SV 2003 FM M /B NDES B RA…
High Growth Brazilian and West African Oil & Gas Market Some of the most exciting, high growth oil & gas markets in the world Offshore Oil Production and Vessels Recent Discoveries in Brazil (bboe) Quantity Saudi Arabia 264…
Offshore Supply Vessel Shortage Demand is expected to more than double by 2020, versus the current Brazilian fleet of 244 vessels Market Size Estimates Government efforts to replace foreign Petrobras has announced demand for Each…
Key Regulation in the Brazilian Sector The Brazilian government is committed to developing Brazil through local content and instituting favorable policies for those who commit to the countrys growth Circularization Special…
Strong Local Presence and Qualified People Since 2000, NorSkan has assembled a strong portfolio of Brazilian-flagged vessels, allowing for superior crew training and professional development Successful track record during its 10-year…
State of the Art Fleet NorSkans state of the art fleet commands the most attractive long-term charters requiring the best equipment and crews NorSkans newbuild program continues to utilize new technology and smart engineering to…
Financial Highlights Q1 2010 Higher utilization Subsea fleet compared to Q1 2009 More vessels in operation Q1; Skandi Aker delivered and on contract 1 Feb Skandi Santos on contract end Feb Skandi Olympia aquired and on contract 4…
Result Q1 2010 ALL FIGURES IN NOK MILLION Q 1 2010 Q 1 2009 2009 Operating income 1,129 964 4,335 Gain / loss on sale of assets - - -8 Total operating income 1,129 964 4,327 Operating expenses vessels 791 733 3,094 Total…
P&L Q1 2010 ALL FIGURES IN NOK MILLION DOF ASA DOF SUB. HOLDING Total Q1 2010 Q1 2010 Q1 2010 Operating income 407 722 1,129 Gain/loss on sale of assets - - Total operating income 407 722 1,129 Operating expenses 257 534 791…
Balance Q1 2010 ALL FIGURES IN NOK MILLION 31.03.2010 31.03.2009 ASSETS Intangible assets 474 762 Fixed assets 18.613 15.337 Financial assets 212 153 Total non current assets 19.299 16.252 Receivables 1.392 1.408 Current assets…
Currency effects on Q1 2010 results ALL FIGURES IN NOK MILLION Financial items Group Q1 2010 Group Q1 2009 Group 2009 Share of loss profit from associated 1 - 197 Interest reveneue 12 31 121 Interest costs -129 -163 -574…
The DOF Group New Builds - 31-03-2010 New Builds DOF ASA Group PAID IN REMAINING Expected Vessel Name PROJECT PRICE Equity need CAPEX CAPEX financing* Sum New Builds DOF ASA Group 10.890.500.500 2.436.377.000 8.454.123.500…
Markets Supply Strong North Sea spot market Subsea Increased activity in the North Sea. High activity in Brazil and Australia The New Horizon DOF ASA PRESENTATION Q1 2010 - 27
Thank you The New Horizon DOF ASA PRESENTATION Q1 2010 - 28
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