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AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore

Siem Offshore · Aug 19, 2010 · 27 slides

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Slides

  1. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 1
    Company Presentation Oslo 19 August 2010 CEO Terje Sorensen CFO Dagfinn Lie
  2. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 2
    Siem Offshore Inc. Company in Brief Established as a stand-alone company in July 2005 The Companys vision is to be a preferred supplier of marine services based on quality and reliability The strategy has been to grow the company…
  3. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 3
    Siem Offshore a part of the Siem Industries Group - Total group fleet of more than 100 vessels Siem Industries Inc Siem Siem Car Deep Sea Subsea 7 Inc Star Reefers Other Offshore Inc Carriers Insurance Inc 47% 72% Investments…
  4. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 4
    Shareholder information SHAREHOLDER NO OF SHARES % SIEM INDUSTRIES INC. 133,279,421 33.68 % ACE CROWN INTERNATIONAL LIMITED 76,780,808 19.40 % MP PENSJON 9,096,313 2.30 % VERDIPAPIRFONDET HANDELSBANKEN 8,400,000 2.12 % SKAGEN VEKST…
  5. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 5
    Highlights Second Quarter 2010 Awarded contracts for four AHTS vessels by Petrobras in Brazil for a firm period of four years, with clients option for additional four years on terms to be mutually agreed. Terminated the bareboat…
  6. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 6
    Subsequent Events Raised gross proceeds of NOK 349 million through a private placement on 6 July 2010 of approximately 36 million shares at NOK 9.70 per share. Took delivery in July 2010 of the two AHTS vessels Siem Ruby and Siem…
  7. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 7
    Income Statement Year Ended Q2 January - June 31 December 2010 2009 2010 2009 2009 Amounts in USD millions Unaudited Unaudited Unaudited Unaudited Audited Operating Revenue 59.6 44.1 109.4 87.9 183.6 Operating expenses ( 28.9) ( 26.7)…
  8. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 8
    Operating Margin 2010 and 2009 Comparison
  9. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 9
    Operating Margin Q2 Q2 2010 Q2 2009 Amounts in Operating Operating Operating Operating Operating Operating USD millions revenue expenses margin revenue expenses margin PSV 25.3 ( 10.7) 14.6 24.1 ( 9.0) 15.1 MRSV 16.8 ( 6.5) 10.3 13.8 (…
  10. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 10
    Operating Margin January to June January June 2010 January June 2009 Amounts in Operating Operating Operating Operating Operating Operating USD millions revenue expenses margin revenue expenses margin PSV 45.7 ( 21.3) 24.4 48.9 ( 16.5)…
  11. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 11
  12. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 12
    Associated Companies (per 30.06.2010) (Amounts in USD million) Q2 First half Result from assiciated companies 2010 2009 2010 2009 Overseas Drilling Ltd. (50%) 1.5 2.0 3.7 2.0 KS Big Orange XVlll (41.33%) 0.1 ( 0.1) ( 0.1) ( 0.1) Ocean…
  13. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 13
    Statement of Financial Position 30.jun 30.jun 31.des 2010 2009 2009 (Amounts in USD million) Unaudited Unaudited Audited Intangible assets 14.0 12.7 14.1 Vessels under construction 195.8 172.0 208.5 Vessels. equipment and other 841.4…
  14. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 14
    Employment Vessels in Operation
  15. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 15
    Geographical Footprint and Clients Regions: Clients: North Sea Mediterranean Petrobras Black Sea Middle East India Brazil Gulf of Mexico North America West Africa Far East and others 15
  16. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 16
    Vessels in Operation PSV Employment 2010 2011 2012 2013 2014 Vessel Ownership 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Siem Sasha 100 % Siem Sophie 100 % Siem Louisa 100 % Siem Danis 100 % Siem Mollie 100 % Siem Hanne…
  17. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 17
    Vessels in Operation MRSV and AHTS Employment 2010 2011 2012 2013 2014 Vessel Ownership 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Siem Swordfish 100 % Seven Sisters 100 % Siem Marlin 100 % Adams Vision 100 % Total order…
  18. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 18
    Vessels in Operation MRSV Employment 2010 2011 2012 2013 2014 Vessel Ownership 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Siem Swordfish 100 % Seven Sisters 100 % Siem Marlin 100 % Adams Vision 100 % Total order backlog in…
  19. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 19
    Vessels in Operation AHTS Employment 2010 2011 2012 2013 2014 Vessel Ownership 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Siem Pearl 100 % Siem Emerald 100 % Siem Sapphire 100 % Siem Aquamarine 100 % Total order backlog in…
  20. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 20
    Vessels in Operation Other Employment 2010 2011 2012 2013 2014 Vessel Type Ownership 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Big Orange XVIII WSV 41 % Joides Resolution SPV 50 % Total order backlog in % and USD mill.…
  21. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 21
    Vessel Delivery Shipbuilding Contracts
  22. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 22
    Shipbuilding Contracts Vessel Deliveries 2010 2011 2012 2013 2014 Owner- Vessel Type 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Siem Ruby AHTS 100 % Siem Topaz AHTS 100 % Contract USD 7.9 million Siem Diamond AHTS…
  23. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 23
    Safety and Training Siem Offshore has good safety records The best way to improve safety is through training New dedicated AHTS vessel simulator, including: Rolls-Royce AHTS winch Kongsberg DP Triplex MDH Simulator Coast…
  24. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 24
    Market Outlook The market for offshore vessels operating in the North Sea spot market has improved in second quarter 2010 compared to previous quarter. The market for AHTS vessels in the North Sea has been positively affected by the…
  25. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 25
    Appendices 25
  26. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 26
    Assets and Activities - Main vessel categories and work roles PSVs (3,600 4,700 dwt) MRSVs AHTS vessels 14 4 10 Transport supplies to and Subsea construction support Pre-laying of anchor systems from offshore installations ROV…
  27. AUGUST 2010 CORPORATE PRESENTATION – Siem Offshore – slide 27
    Assets and Activities (continue) - Additional vessel categories 2 x OSRVs (new) 2 x FSV (new) 2 x FCV (new) 1 x Core Drilling Vessel 1 x Well Stimulation Vessel 9 x Other Vessels (Brazil) 27

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