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Q1 2012 EARNINGS CALL – Bonheur Asa

Bonheur Asa · May 10, 2012 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 1
    1st quarter 2012 10th May 2012 1
  2. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 2
    Business segments g as of 10th May y 2012 62.1% Bonheur ASA Ganger Rolf ASA (listed OSE) (listed OSE) 20.7% Offshore drilling Floating production Renewable energy Cruise Shipping / Offshore wind Other investments 53.4% 61.5%…
  3. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 3
    Bonheur ASA - Highlights 1Q 12 (1Q 11 in brackets) Operating revenues were NOK 2 543 million (NOK 2 318 million) Operating result before depreciation (EBITDA) was NOK 1 040 million (NOK 930 million) Operating profit (EBIT) was NOK…
  4. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 4
    Bonheur ASA - Group of companies C Consolidated lid t d summary (NOK million) 1Q 12 1Q 11 Revenues 2 543 2 318 EBITDA 1 040 930 EBIT 553 461 Share of result from associates 0 9 Net finance -214 -117 EBT 339 353 Net result…
  5. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 5
    Bonheur ASA - Group of Companies Segment analysis EBITDA NOK million EBITDA 1Q 12 1Q 11 Change Offshore Drilling 844 763 81 Floating Production 60 59 1 Renewable Energy 135 105 30 Cruise 30 36 -6 Shipping/Offshore wind 4 4 0 Other…
  6. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 6
    Bonheur ASA Group of companies Condensed statement of Financial Position (NOK million) 31.03 31.12 31.03 31.12 2012 2011 2012 2011 Intangible fixed assets 155 201 Equity owned by shareholders in parent co. 6 485 6 661 Deferred tax…
  7. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 7
    Bonheur ASA Group of companies C h flow Cash fl statement (NOK million) 1Q 12 1Q 11 Net cash flow from operating activities 799 145 Net cash flow from investing activities -278 -393 Net cash flow from financing activities 277 -640…
  8. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 8
    Ganger Rolf ASA - Highlights 1Q 12 (1Q 11 in brackets) Net result after tax was NOK 33 million (NOK 92 million) Earnings per share were NOK 1.00 (NOK 2.70) Fred. Olsen Windcarrier AS entered into a contract for the construction…
  9. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 9
    Ganger Rolf ASA - Group of companies C Consolidated lid t d summary NOK million 1Q 12 1Q 11 Revenues 0 2 EBITDA -12 -10 EBIT -13 -11 Share of net result from associates 95 117 N t finance Net fi -24 24 -30 30 EBT 58 77 Net…
  10. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 10
    Ganger Rolf ASA - Group of companies S Segment t analysis l i - Net N t result lt NOK million Net result per segment 1Q 12 1Q 11 Change Offshore Drilling g 104 104 -1 Floating Production 1 -2 3 Renewable Energy 28 18 9…
  11. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 11
    Ganger Rolf ASA Group of companies C d Condensed d statement off Financial Fi i l Position P ii ll NOK million 31.03 31.12 NOK million ll 31.03 31.12 2012 2011 2012 2011 Deferred tax asset 51 42 Total equity 4 961 5 112…
  12. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 12
    Fred Olsen Energy ASA Fred. Semi-submersible rig Bideford Dolphin 12
  13. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 13
    Fred. Olsen Energy Highlights 1Q 12 (1Q 11 in brackets) Revenues were NOK 1 606 million (NOK 1 479 million) EBITDA was NOK 844 million (NOK 763 million) Operating profit f (EBIT) ( ) was NOK 506 million ll ((NOK 447 million)…
  14. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 14
    Fred. Olsen Energy Operating worldwide Bideford g Borgland Bredford Byford Borgsten Borgholm Belford Borgny Blackford 14
  15. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 15
    Fred. Olsen Energy Contract schedule as per 10th May 2012 2011 2012 2013 2014 2015 2016 2017 Belford Anadarko Anadarko Blackford Reliance 1) 2) 3) Bideford Statoil Borgland Consortium Bredford Lundin 4) Lundin Borgny Petrobras…
  16. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 16
    Fred. Olsen Energy Key financials Quarter 1 NOK mill Revenues EBITDA EBIT (NOK million) 2012 2011 1800 Revenues 1 606,4 1 479,0 EBITDA 844,0 762,9 1600 EBIT 505,7 447,3 1400 EBT 395 4 395,4 382 7 382,7 Non-current assets 10…
  17. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 17
    Fred Olsen Production ASA Fred. FPSO Knock Allan 17
  18. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 18
    Fred. Olsen Production Highlights 1Q 12 (1Q 2011 in brackets) Operating revenues for the quarter were USD 26.9 million (USD 27.1 million) EBITDA was USD 10 10.3 3 million (USD 10.3 10 3 million) Profit before tax was USD…
  19. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 19
    Fred. Olsen Production Contract status per 10th May 2012 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Petrolo Nautipa Vaalco - Gabon 2y option Knock Adoon Addax Petroleum - Nigeria 8y option Knock…
  20. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 20
    Fred. Olsen Production Key financials Quarter 1 NOK mill Revenues EBITDA EBIT (NOK million) 2012 2011 200 Revenues 155,9 155,0 EBITDA 59,9 59,1 150 EBIT 18,8 14,9 EBT 12,2 8,3 100 Non-current assets 1 759,6 2 104,0 50 Current…
  21. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 21
    Fred Olsen Renewables AS Fred. Windfarm Pauls Hill, Scotland 21
  22. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 22
    Fred. Olsen Renewables Overview Four windfarms in Scotland (315.5 MW) and two in Sweden (7.4 MW) in operation during the quarter. Kiaby (6,2 MW): Generated throughout the quarter, and commenced full operation in February. Lista (71…
  23. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 23
    Fred. Olsen Renewables Project oject Portfolio o t o o wind d po power e Site Investigation Development Consented Construction Operation Scotland Scotland 40-50 MW Scotland Scotland Scotland Crystal Rig III Brockloch Rig 45…
  24. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 24
    Fred. Olsen Renewables Projects in the UK and Ireland 24
  25. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 25
    Fred. Olsen Renewables Projects in Scandinavia 25
  26. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 26
    Fred. Olsen Renewables Significant producer of renewable electricity Historical energy production 6 month periods 500 450 836 GWh produced in 400 2011. 350 Crystal Rig II commenced 300 generation mid 2010. GWh 250…
  27. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 27
    Fred. Olsen Renewables Key financials Quarter 1 NOK mill Revenues EBITDA EBIT (NOK million) 2012 2011 200 R Revenues 183 3 183,3 142 6 142,6 180 EBITDA 135,3 105,3 EBIT 86,5 57,0 160 EBT 80,2 57,5 140 Non-current assets 2 481,5 2…
  28. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 28
    Fred Olsen Cruise Lines Fred. Cruise ship MV Balmoral 28
  29. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 29
    Fred. Olsen Cruise Lines Overview Owned and operated four cruise ships during the quarter; MV Black Watch, MV Braemar, MV Boudicca, MV Balmoral Higher prices on fuel- and bunker oil impacted the result negatively 29
  30. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 30
    Fred. Olsen Cruise Lines Key financials Quarter 1 Revenues EBITDA EBIT (NOK million) 2012 2011 NOK mill Revenues 448,0 439,8 480 EBITDA 30,1 36,0 430 EBIT -23,6 -18,1 380 EBT -41,2 -8,3 330 Non-current assets 2 008,9 2 108,1 280…
  31. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 31
    Shipping / Offshore wind Suezmax tanker Knock Clune 31
  32. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 32
    Shipping / Offshore wind Overview Ownership of 2 suezmax vessels (Knock Sheen and Knock Clune) and 1 reefer vessel Fred. Olsen Windcarrier AS (FOWIC) has under construction two transport and installation vessels for offshore wind…
  33. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 33
    Other investments GenoMar AS (86.5%) GenoMar AS is a life science aquaculture company focusing on breeding the white fish Tilapia Operations mainly in the Far-East Far East with breeding, breeding hatchery, hatchery grow out and sale…
  34. Q1 2012 EARNINGS CALL – Bonheur Asa – slide 34
    www.bonheur.net www ganger-rolf www.ganger rolf.com com 34

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