An Oslo Stock Exchange listed shipping company Ticker: OTS CEO: Haico Halbesma CFO: Torbjrn Skulstad Q3 2013 Presentation Oslo 7 November 2013 1 OCEANTEAM SHIPPING ASA Q3 PRESENTATION 2013
CAUTIONARY STATEMENT This presentation contains forward looking information. Forward looking information is based on management assumptions and analysis. Actual experience may differ, and those differences may be material. Forward…
AGENDA Company Overview Finance structure: OTS Bond and Equity Financials Market Outlook 3 OCEANTEAM SHIPPING ASA Q3 PRESENTATION 2013
v Company Overview 4 OCEANTEAM SHIPPING ASA Q3 PRESENTATION 2013
OCEANTEAM SHIPPING High-end-deep-water Vessels Engineering 150 people Engineering & Modular Carousels, strong Execution Support Specialist Equipment, Storage & Handling Our Mission Creating value through: Providing complex…
COMPANY OVERVIEW ENGINEERING Shipping segment REVENUE USD 6.9M Engineering segment Three CSVs and one LV Focus on Oil & Gas and Offshore through joint ventures plus Renewables two FSVs Equipment rental division SHIPPING Solid…
FOCUS GOING FORWARD Target markets Large harsh- and deep-water Construction Support Vessels (CSV) and Pipe Lay Vessels Market CSVs and Pipe Lay Vessels combined with in-house engineering know how Grow contract back log OceanWind Cable…
DELIVERING ON PROMISES 2009 - 2012 1 Refocus and restructure Renegotiation and conversion of bond loan Restructure of balance sheet and operations (2009 - July) 2 Refinancing of two vessels OTS refinanced CSV BO 101 and CSV…
SHIPPING Our Fleet CSV Bourbon Oceanteam 101 CSV North Ocean 102 High-end deep-water offshore construction CSV Southern Ocean Proven quality in the most demanding and advanced deep- LV North Ocean 105 water operations FSV…
SHIPPING Charter Status Robust back log with solid clients 10 OCEANTEAM SHIPPING ASA Q3 PRESENTATION 2013
ENGINEERING - Services Wintershall, Relocation of MPP P6-S to Q1-D Hollandia Strukton JV, 10120 Riffgat Offshore Sub Station Design Engineering Services, 150 people strong 11 OCEANTEAM SHIPPING ASA Q3 PRESENTATION 2013
ENGINEERING & EQUIPMENT RENTAL Handling, Transport & Storage Services Offshore Installation Certified Proprietary Designs Equipment Modular & Easy Transport One design concept for onshore & offshore operations 13 OCEANTEAM…
v Finance Structure 14 OCEANTEAM SHIPPING ASA Q3 PRESENTATION 2013
BOND REFINANCE New Debt Maturity Profile USD MILLION EBITDA to date - USD 20.4 million equal 43% of revenue 200 175 Cash position - USD 25.7 million 150 Net financial 125 - USD 11.9 million 100 Loan redemption 75 - USD 10.7…
EQUITY - Share Price Development Share development: - a positive increase during the year FMV developments - Stable value of modern fleet, high-end deep water assets Booked equity - 37% - USD 107 million (after 10% share buy…
COMPANY OVERVIEW Highlights Q3 Shipping segment Engineering segment Revenue USD 15.6m OceanWind awarded storage and handling contract with RWE and VSMC EBITDA USD 7.2m 4.000 ton for LS Cable Operating profit USD 3.8m progressing…
v Financials 20 OCEANTEAM SHIPPING ASA Q3 PRESENTATION 2013
P&L REPORT END Q3 2013 Figures in USD 000 Q3 2013 Q3 2012 Revenue 14 848 17 441 Total operating revenues 14 848 17 441 Net income of associates 734 1 048 Operating costs (4 514) (5 902) General & administration (3 914) (3 192)…
BALANCE SHEET Q3 2013 Figures in USD 000 30.09.2013 31.12.2012 Figures in USD 000 30.09.2013 31.12.2012 Assets Equity and liabilities Intangible assets 19 680 18 506 Total equity 106 931 112 068 Tangible assets 233 461 233 081…
LARGE TAX DEDUCTIBLE LOSSES Norway OTS has a confirmed tax loss to carry forward of USD 169 M (NOK 1 billion) The CSVs comply with the Norwegian Tonnage Tax regime with approximately 0% tax CSV 101, Southern Ocean and LV 105 are…
v Market Outlook 24 OCEANTEAM SHIPPING ASA Q3 PRESENTATION 2013
H&D - strongest market in growth areas H&D Infield pipeline forecast per region 3,500 Asia-Pacific 3,000 Mediterranean West Africa 2,500 Latin America North America 2,000 NW Europe Km 1,500 1,000 500 - 2007 2008…
HARSH & DEEP-WATER VESSELS SCARCITY EXPECTED FROM 2014 Base case has demand growth 2012-17 of 11,5% p.a. and fleet capacity growth of 9 % p.a. based on no further new building contracts, cancellations nor scrapping H&D pipelay &…
GOING FORWARD - Checklist for September 2014: Enhancement and pricing of equity instrument Continued focus on high quality assets and balance sheet New investments in high quality assets utilizing the clean capital structure Risk…
THANK YOU Oceanteam Shipping ASA Corporate Headquarters Tveitarsveien 12 T +47 55 10 82 40 PO Box 463, Nesttun F +47 55 10 82 49 5853 Bergen E infooceanteam.no Norway WWW.OCEANTEAM.NO 29 OCEANTEAM SHIPPING ASA Q3 PRESENTATION…
Loading...
