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FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa

Farstad Shipping Asa · Feb 17, 2012 · 43 slides

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Slides

  1. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 1
    Agenda Company Company Structure Shareholder matters Financial Matters and Values Business Focus Competitors, Market, Prospects The Fleet and Employment Presentation - February 17th 2012 CEO Karl-Johan Bakken CFO Torstein L.…
  2. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 2
    Farstad Shipping brief summary No of vessels in operation: 56 (32 AHTS, 21 PSV, 3 Subsea): No of newbuilds: 8 No of employees offshore: 1.790 No of employees onshore: 200 Market value fleet (excl. newbuilds): Bln. NOK 15,4…
  3. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 3
    Farstad Shipping Company structure Farstad Shipping ASA 100% 100% 100% 100% 100% 100% 100% 100% Farstad Farstad Farstad Shipping Pte.Ltd Farstad Shipping Ltd Farstad Farstad Farstad Brasil AS Australia AS (Singapore)…
  4. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 4
    Farstad Shipping ASA Listed since 1988 Largest shareholders (10.02.11) (10 02 11) No of shares % 1 Tyrholm & Farstad AS 15 796 199 40,5 2 Folketrygdfondet 3 941 600 10,1 3 Brown Brothers Harriman Fidelity 3 200 000 8,2 4 Pareto…
  5. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 5
    Result 4th Quarter 2011 (preliminary) (NOK mill.) Res 4Q-10 Res 4Q-11 A challenging quarter in a challenging year Operating income 905,3 972,7 Sale of Lady Christine Profit on sale of fixed assets 0,0 13,4 Accruals T t l…
  6. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 6
    Development result - Quarterly (4Q preliminary) Operating income excl. sale of assets Mill NOK 1 200,0 1 000,0 800,0 600,0 400,0 200,0 0,0 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 2007 546,0…
  7. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 7
    Development result Quarterly (4Q preliminary) EBIT excl. profit from sale of vessels Mill NOK 500,0 450 0 450,0 400,0 350,0 300,0 250,0 200,0 150,0 100,0 50,0 0,0 1st Quarter 2nd Quarter 3rd Quarter 4th…
  8. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 8
    Development result Quarterly (4Q preliminary) (NOK mill.) 4Q-10 1Q-11 2Q-11 3Q-11 4Q-11 Operating income excl. Sale of vessels 905,3 801,0 880,4 970,2 972,7 Crewing expenses vessels 300,5 332,7 338,5 353,9 364,5 Other operating…
  9. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 9
    Result 31.12. 2011 (preliminary) All figures excl. profit from sale of vessels 4 000 60,0 % ((NOK mill.)) Res.31.12.10 Res.31.12.11 Operating income 3 357,1 3 624,4 Profit on sale of fixed assets 1,1 16,9 3 500 Total operating…
  10. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 10
    Result 4Q and 31.12.11( preliminary) S Sorted d by b segment Operating income- sorted by segment OPERATING INCOME *) 4. quarter 4. quarter 1.1-31.12 1.1-31.12 1.1-31.12 2011 2010 2011 2010 2009 Northwest Eurpoe Brasil Indian Pacific…
  11. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 11
    Result 4Q and 31.12.11 (4Q preliminary) C Comprehensive h i Income/Equity I /E i STATEMENT OF 4. quarter 4. quarter 1.1-31.12 1.1-31.12 1.1-31.12 COMPREHENSIVE INCOME 2011 2010 2011 2010 2009 Result 139 730 39 508 568 448 431…
  12. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 12
    Result 4Q and 31.12.11 (4Q preliminary) C h Flow Cash Fl STATEMENT OF CASH FLOW 4. quarter 4. quarter 1.1-31.12 1.1-31.12 1.1-31.12 2011 2010 2011 2010 2009 Cash flow from operating activity 228 605 447 379 1 360 054 1 666 754 1 621…
  13. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 13
    Balance Sheet 31.12.11 ((4Q Q ppreliminary) y) ASSETS 31/12/11 31/12/10 31/12/09 EQUITY AND LIABILITIES 31/12/11 31/12/10 31/12/09 Goodwill 112,1 30,2 30,2 Total equity capital 6 820,2 6 582,4 6 251,9 Vessels etc. 11 524,0 11…
  14. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 14
    Return on Equity and Capital Employed (preliminary) 40,0 % 36,1 % 35,0 % 31,1 , % 30,0 % 24,2 % 25,0 % 23,6 % 22,8 % 20 0 % 20,0 17,1 % 17,4 % 16,4 % 14,8 % 15,0 % 13,4 % 12,0 % 11,7 % 11,3 % 8,5 % 10,0 % 8,5 % 8,0 %…
  15. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 15
    Market values vessels -free free of charter and available in the market Mill. NOK Mill. NOK 575 575 550 550 525 525 500 500 475 475 Average increase in values of 450 450 425 425 Farstad fleet in 2007: 18,1% 400 400 375 375 Average…
  16. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 16
    Farstad Shipping pp g - Values NOK dividend/ share Values NOK/ share 6,00 300 5,00 250 4,00 200 3,00 150 2,00 100 1,00 50 0 00 0,00 0 2005 2006 2007 2008 2009 2010 2011* Dividend 3,00 3,00 4,00 5,00 3,00…
  17. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 17
    Long term debt 31.12.11 31 12 11 - repayment profile 1 000 000 900 000 800 000 700 000 600 000 500 000 400 000 300 000 200 000 100 000 0
  18. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 18
    Agenda Company Company Structure Shareholder matters Financial Matters and Values Business Focus Competitors, Market, Prospects The Fleet and Employment Presentation - February 17th 2012 CEO Karl-Johan Bakken CFO Torstein L.…
  19. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 19
    Farstad Shipping - International competitive position backed by the Norwegian maritime cluster Values Business Focus z To be a leading provider of Safety minded quality Support Vessel Services to the international Value creative…
  20. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 20
    Farstad Shipping HSEQ LTIF - (No of incidents per mill. work hours ) 14 12 10 8 6 4 2 0 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Farstad…
  21. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 21
    Farstad Shipping The Fleet F b February 2012 11 PSV lesund 2 SUBSEA Aberdeen 2 AHTS 5 AHTS Singapore Macae Rio 2 PSV 11 AHTS Perth 1 SUBSEA 8 PSV Melbourne 14 AHTS
  22. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 22
    Farstad Shipping important events New offices in Rio (Rio Branco 1, 15. etg) 22
  23. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 23
    Fleet Structure Supply Vessels Worldwide PSV2.000 dwt AHTS10.000 bhp 692 vessels l + 255 newbuilds b ild (37%) 469 vessels+78 l 78 newbuilds b ild (17%) DWT BHP Approx. 43% Approx. 2.700 vessels worldwide 23…
  24. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 24
    North Sea AHTS - Spot p Market ((week 07)) Source: RS Platou 24
  25. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 25
    North Sea PSV - Spot p Market ((week 07)) Source: RS Platou 25
  26. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 26
    26
  27. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 27
    Worldwide semisubmersible market No of rigs No of rigs 80 250 E-Dec-12: Total demand 192 rigs, rigs 70 Total supply 219 rigs, 200 Marketed supply 199 rigs 60 50 150 40 30 100 Total rig demand 20 50 10 0 0 NW…
  28. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 28
    North Sea Fleet S Supply- l Demand- De d Utilisation Utili ti 350 96 % 95 % 95 % 100 % 93 % 90 % 91 % 91 % 91 % 305 308 90 % 293 300 278 282 277 265 268 80 % 252 251 251 250 241 236 70 % 226 212 Boat- yeears 198…
  29. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 29
    North Sea Fleet S Supply- l Demand- D d Utilisation Utili ti 350 100,0% 95,0% 300 90,0% 250 85,0% 200 80,0% 75,0% 150 70,0% 100 65,0% 50 60,0% 0 55,0% Term demand Spot demand Fleet size Total utilisation…
  30. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 30
    AHTS 10.000 BHP and PSV 2.000 DWT W ld id sorted Worldwide t d by b owners// managers No of vessels AHTS = 469 vessels PSV = 692 vessels Newbuilds = 333 vessels Total fleet incl. newbuild count 1494 140 vessels 165 owners. The…
  31. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 31
    Newbuildings sorted by regions AHTS 10.000 BHP and PSV 2.000 DWT No of vessels 90 AHTS = 78 vessels PSV = 255 vessels Subsea=41 80 14 70 60 50 3 40 55 10 30 52 44 20 13 33 2 6 10 1 15 15 10 7 2 4 20 11 3 9 7 6…
  32. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 32
    Newbuildings sorted by deliverytime AHTS 10.000 10 000 BHP, BHP PSV 2.000 2 000 DWT…
  33. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 33
    AHTS 10.000 BHP and PSV 2.000 DWT W ld id andd the Worldwide th Northwest N th t Europe E *) PSV 2000 DWT AHTS 10.000 BHP No of vessels No of vessels 800 500 Other markets Northwest Europe Other markets Northwest Europe…
  34. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 34
    AHTS 10.000 BHP Worldwide Fleet Growth No of vessels No of vessels Increase in fleet Total fleet incl. Newbuilds Increase in fleet Total fleet incl. Newbuilds 600 600 546 551 545 547 527 529 500 500 469 443 443 401 401 400…
  35. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 35
    PSV 2.000 DWT W ld id Fleet Worldwide Fl t Growth G th No of vessels Increase in fleet Total fleet 900 No of vessels Increase in fleet Total fleet 803 815 933 946 947 800 749 1000 903 664 900 812 700 575 800 600 692 664 501…
  36. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 36
    AHTS 10.000 BHP W ld id sorted Worldwide t d by b regions i No of vessels Jan.-06 Jan.-07 Jan.-08 Jan.-09 Jan.-10 Jan.-11 Jan.- 12 180 158 160 150 138 140 120 116 116 100 94 88 77 80 71 74 72 65 64 59 60…
  37. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 37
    PSV 2.000 DWT W ld id sorted Worldwide t d by b regions i No of vessels Jan.-06 Jan.-07 jan-08 Jan.-09 Jan.-10 Jan.-11 Jan.-12 250 202 200 187 179 171 168 158 152 150 135 128 123 123 112 114 105 103 97 97 100…
  38. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 38
    Farstad Shipping Renewal of the Fleet 38
  39. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 39
    Contract Summary AHTS February 2012 39
  40. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 40
    Contract Summary PSV/ SUBSEA February 2012 40
  41. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 41
    Farstad Shipping Contract Summary Fleet total February 2012 *)) Options Term contracts 100 % 68,0%**) 43,9%**) 31,6%**) 23,7%**) 19,4%**) 90 % 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0% **) AHTS = 62,2% 42,0% 31,4%…
  42. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 42
    Summary Oil price in a positive territory. Growth in all markets. Market recovery for PSV pushed back by new build orders. Limited availability of competent resources. resources FS positioned for further growth. FS strong…
  43. FEBRUARY 2012 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 43
    Takk for oppmerksomheten Better by Far 43

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